"If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?" – Luke 16:11
Managing money wisely in today’s fast-paced world isn’t always easy. With so many financial demands, it’s tempting to take shortcuts—grabbing coffee on the go, eating out instead of cooking, or neglecting a budget altogether. But faithfulness in finances requires intentionality. Here’s how you can stay faithful in managing your money according to biblical principles.
Before making financial decisions, seek God’s wisdom. James 1:5 reminds us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.” Set aside time each week to pray over your finances and seek God’s direction.
Create a Spending Plan
A budget is essential for financial faithfulness. Without one, it’s easy to overspend and struggle to meet obligations. If you don’t have a budget, download the free FaithFi app, which provides step-by-step guidance for setting up a plan and tracking expenses.
If your income isn’t covering expenses, you have two choices: cut spending or increase income. Trimming expenses is often the easier option.
Cut Unnecessary Expenses
Start by reviewing where you spend the most. While housing costs may be fixed, food expenses can be reduced with intentional planning:
- Limit dining out to once or twice a month.
- Meal plan and shop with a list to avoid impulse purchases.
- Consider online grocery shopping to stick to a budget and avoid overspending.
Beyond food, look for other savings opportunities:
- Cancel unused streaming subscriptions.
- Form a babysitting pool with other parents.
- Seek out free local activities for entertainment.
Build an Emergency Fund
Financial stability requires preparation. Start by setting aside $1,500 for unexpected expenses like car repairs or medical bills. Gradually work toward saving three to six months’ worth of living expenses. The peace of mind an emergency fund provides is worth the effort.
Tackle Debt Strategically
If you’re burdened by debt, follow Proverbs 22:7, which warns, “…the borrower is slave to the lender.” Develop a plan to pay off consumer debt using the snowball method:
- Pay minimums on all debts.
- Focus extra payments on the smallest balance.
- Once that debt is paid, roll payments into the next smallest.
- Repeat until you’re debt-free.
If you’re struggling to make minimum payments, consider a debt management plan through Ch