Over 800 times, the Bible points to our need to think about how we use our resources. Jesus parables are almost 40% focused on how we use money. In Luke 12, Jesus tells the story of a man who is selfishly focused on building bigger and better, not really worried about anyone except himself. Jesus calls him a fool.
In America, we are a wealthy nation and as disciples of Jesus, we should consider others and our own families in how we use the resources God has blessed us with. The average person in the world makes about $2 a day. Out of 195 countries, only one holds 30% of the world’s wealth…it’s the United States.
And we know God is not opposed to people having money and comforts. All through the Bible, God’s story is full of people God uses to promote his agenda. People like Abraham, Isaac and Jacob. Folks like Joseph, Cornelius and Lyda. There are many well-resourced people who have been a part of what God is doing in the world.
As we move toward a less restricted time from our COVID event…as we move toward a summer of travel, vacations and renewing our relationships…let me give you some practical advice about how a disciple of Jesus should interact with the resources God has given.
One fundamental idea is to stay away from debt when possible. There’s not one place in the Bible where God blesses someone and used debt to do it. Now, there are moments when we need to. Not many of us can purchase a house outright but there are some questions you need to ask yourself before you purchase big-ticket items. Questions like:
Do I have $1000 in an emergency fund? Do I also have 3-6 months of salary saved up?
Can I put down between 12-15% on a house purchase?
Do I have enough cash to cover closing costs and moving expenses?
Is the house payment 25% or lower of my take home pay?
Can I afford a 15-year note verses a 30-year note?
How do you know if your credit card spending is out of control?
Are you paying for groceries, utilities, or gas with a credit card?
Have you consolidated credit card debt with a personal loan but not cut up the cards?
Are you hiding a credit card from a spouse?
Also, be a good manager. Get on a budget right now if you are not currently on one. If you don’t have a budget, you can end up any where. Discover how you are spending money and create a plan to get your spending under control.
And be wise with your spending. You can live above your means which almost means you’re always going into debt. Living within your means which can bring some peace because you are spending what you are making. And then there’s living below your means. This way, you always have money left over at the end of the month. That money can then be used for retirement investing.
Right now, the average monthly payment of a new care is $563 a month over 70 months. Imagine if you bought used and then invested that monthly payment into a mutual fund over your lifetime. Depending on the funds you invested in and the length of investment, you could have between $3-7 million to retire with. The 10-10-80 rule is a good foundation to use. It means 10% of your income goes to God. Then next 10% is for saving and/or investment. Then you learn to live on 80% of your take-home.
Finally, Don’t wander from God with your resources. Make him the priority in your life and God will take good care of you. That’s what Jesus says in Luke 12. You may be sitting there thinking, “I am such a loser. I haven’t done any of this”. But this is not about beating you up. It’s just reminding us that today is a new day and you can start today living differently with how God has blessed you. When you do make God the priority, there is less anxiety, less worry and more kingdom work you can do. Blessings on the journey.