Divorce is almost always a sad turn in life. It certainly is not the Christian ideal nor is it ever the plan. Life does not always go according to our plans, though, and life does not always snugly fit into our box of ideals. As such, today we’ll take a look at the impact that a divorce can have on ones finances.

When the initial emotions surrounding a separation begin to subside, individuals must look toward the practical aspects of their newly altered finances.

Married finances are quite different from single finances and many divorce proceedings will greatly revolve around financial issues. The Financial Planning Association cites divorce as one the leading causes of bankruptcy in America. The hurt feelings that are often involved in a divorce mixed with the powerful emotions surrounding our money can be a recipe for trouble.

We must keep in mind that we are to imitate Christ in all of our dealings, even with an ex-spouse and even when money is involved.

The Golden Rule

The funny thing about Christ’s admonition in Luke 6:31 (a.k.a.The Golden Rule) is that we easily forget that it does not only apply in certain situations.

If someone cuts you off in traffic or your neighbor lets their dog tear up your trash those are times to use The Golden Rule. If you have been betrayed by a spouse and are facing a complicated divorce this does not mean that all bets are off and it’s every man for himself! This is not scriptural- we are to behave as Christians even under the worst betrayals.

Personal Security

This is not a time to let your basic financial sense be thrown out the window.

The tenants of sound financial action that held true for you as a married couple still hold true for you as a divorced person. You still need an emergency fund set aside for unexpected expenses. You still need to be paying down debts. Even if you are distraught emotionally and strapped for cash, maintain those basic best-practices.

Who Pays What?

Very early on in a separation or a divorce you should establish who is responsible for which debts. A couple will often work together to pay down things such as student loans, car payments and medical bills. However, just because you were married does not mean that all of your ex-spouse’s debt is your responsibility.

Figure out which debt you are legally responsible for and continue to consistently pay it. If you can continue to work as a team, do what is necessary to ensure all debts continue to be paid so that your credit reports do not suffer.

Legal Investment

While it would be ideal to have a friendly and well-mannered separation, it is not always the case.

If you sense a difficult divorce, consider the use of an attorney. Think of the money you will have to pay for legal representation as an investment. If you invest in a good lawyer you increase your chances of coming out on the other side of your divorce without too much financial damage to your financial plans.

Divorce laws can be a complicated labyrinth of loopholes that could be used to your detriment. Having a lawyer you can trust will guide you through this confusing process.

Change of Beneficiaries

Do not overlook small details such as who is the beneficiary on insurance policies and other financial accounts.  Make sure to change this information very soon after your divorce so that it does not negatively affect your family in the event of your death.

Tackling Retirement Alone

In most cases couples have planned their retirement investments with the thought in mind of growing old together.

When a divorce has changed that scenario it is important to take charge of your own retirement plan. If you had left much of the financial planning up to your spouse then it might be a good idea to consult with a Christian financial advisor so that you will be aware of what all of your options are and you can start making decisions that are good for you.

Scary but Necessary

Taking control of your own finances and facing life as a single, divorced person is scary, but there is always a silver lining.

Having sole control of your finances, savings and investments can also be an empowering feeling that you may not have been able to enjoy while married. Use this time to take control and find out just what you are capable of. You might be surprised at just how capable you are.

Throughout the recent recession we have heard the term downsizing quite a bit. Downsizing is the act of moving to a new home or apartment in order to better your financial situation. Many individuals have found bigger more comfortable houses for less money because they tweaked their idea of the acceptable home. Most people are very emotionally attached to their homes, and moving can be an emotional event which is why it is important to carefully consider this drastic financial step.

When It Is a Must

There actually are not many situations in which downsizing is the only option.

If you are facing a possible foreclosure in which you have exhausted all means of reversing the situation, then selling or short selling your home may be your only option. This may seem like a bleak option at first, but it is a far better option than outright foreclosure.

Many people find that once they are out from under a burdensome mortgage they are very relieved and can focus better on work, family, God and rebuilding their finances. Selling your home to avoid a foreclosure is not the end of the world; it could be the beginning of a much better financial life for you.

Wiggle Room

Beyond pending foreclosure, another reason to downsize might be because the payments on the home just take out too big a chunk of the budget. There is no money for savings, giving, investing or other actions that could improve your financial situation.

When the house has become a big money pit, downsizing could be an option that would give you more wiggle room financially. You should only consider this huge step, though, if you are committed to using the extra money to improving your financial health or using it to pay off other debts.

If there is no plan in place for the money you will be no better off than you were to start with.

Owning vs. Renting

Selling a house, getting rid of a mortgage entirely and switching to a rental home is another form of downsizing that many people find financially liberating. There are a lot of hidden costs associated with owning a home. You are responsible for all maintenance, home owner’s insurance and property taxes.

When you choose to rent, all of those costs simply disappear as well as the stress of dealing with repairs. Renting can be a great permanent choice, or it can be a great temporary choice to help you while you are paying off other debts or working through a Christian debt settlement program.

Cheaper but Bigger

Some families have discovered that when they reevaluate their standards of housing, they can actually get a bigger home for less money. The closed minded ideas of having a home only in a certain neighborhood or only of a certain appearance can really hinder your efforts to find affordable housing.

Housing farther out in rural areas is almost always cheaper. Think outside the box and you might really like what you find.

It may be well worth foregoing certain luxuries to be more financially comfortable. This is a temporary dwelling, after all!

Family Concerns

If you have a spouse or family you must consider that they will all be very greatly impacted by a decision to move. Although you may understand all of the financial reasons that would make downsizing a great option, you must understand that the other members of your family may not have that same knowledge.

A move is a huge step that should not be done suddenly if possible. It should be discussed in depth with your entire family. When huge changes are sprung on people suddenly it can sometimes result in resentment. You do not want to sacrifice your family relationships for what looks like a good financial move. Take time to discuss this with your family and make an effort to understand everyone’s emotions on the topic.

Avoiding the Downsize

Want to avoid the stress of the move? Consider the option of renting a room of your home. That mother-in-law suite could be the exact solution to help you navigate debt troubles.

If that isn’t possible or doesn’t quite cut it, our Christian debt settlement program can help you resolve your credit card debts with a much lower payment. Complete the form on the right hand side to find out how what a debt settlement program would look like for you.

The new year finds many folks making resolutions to lose weight and get in shape. Some of us may be in great physical shape but what we need is to go on a spending diet.

Did you know that a lot of the same tricks that can help you lose weight can also help you save more money and cut down on unnecessary spending?

Write It Down

One of the best ways to keep track of the calories you eat every day is to write down everything you eat. The same is true when you are trying to better understand your spending habits. Writing down everything you spend for several days, can help you pinpoint where you are blowing money. It can also help you identify what you are doing right as well. Spending like eating has a mysterious quality to it, and in many cases individuals never truly know how much they are spending until they can see it written down in front of them in black and white.

Make a Plan

If you do not have a set plan for what you will eat each day then you run a greater risk of just eating whatever you like in whatever amounts. This works the same with your money.

Money left to itself tends to disappear.

A well-established budget will designate a job for every dime. Some of that money may be for spending freely, but you must decide ahead of time what that amount will be. To simply pay your bills and then consider all of the rest of your income as “extra” is a recipe for disaster. Assign every dime in your budget and then stick to that religiously.

Accountability

Setting up a system of accountability for your eating and work out plan can increase your chances of success with your weight loss goals. The same holds true for financial goals.

Many people accomplish this by incorporating the help of an accountability partner. You can do this with your money goals as well. Choose a friend or relative who you can trust but whom you know will use tough love with you to make sure you stick to your money commitments. Designate certain check in times either weekly or semi-weekly to go over your spending journal and discuss the strengths and weaknesses during the past few days. It doesn’t need to take very long, just a few minutes should do. Knowing that you will have to sit down and discuss your choices will help you to think twice about unnecessary spending.

Get Professional Assistance

To achieve weight loss goals, many people will consult a dietitian or a personal trainer. When you are trying to shed some extra credit card debt, it may be wise to consult with a debt relief company. The Christian debt relief programs offered by FaithWorks Financial can help you set and achieve your financial goals.

Avoid Temptation

If you are truly committed to your diet, Dairy Queen should not be somewhere you hang out regularly. There are also certain places or people you should avoid when you are on a spending diet as well. If certain malls or stores are always a spending temptation to you, do not visit those places. If certain people influence you to spend more than you should, then either limit your time with them, or make sure you have no money with you when you spend time with them. This may not go over well at first with some friends or family members, especially if these people are taking advantage of you in some way, but stick to your commitments and soon they will learn what the new boundaries are.

Reward Yourself

When you reach a weight loss goal it is a good idea to reward yourself in order to encourage yourself to further success. When you have reached a money goal you should reward yourself as well. Your rewards should not necessarily be a spending reward, though. If you have successfully contributed to your savings account every week, perhaps you could reward yourself by using some of that savings to open a CD, money market account or some other low risk investment. The boost in confidence will further fuel your financial efforts.

A smart runner entering their first marathon does not simply lace up their shoes and show up at the start line on the day of the race. They prepare for the marathon through daily training runs. Often, they will compete in smaller distance races – maybe a 10K or a half-marathon – to help their body become acclimated to the rigors of running long distances.

The same principle can be applied to eliminating debt. Getting rid of debt is often the no.1 goal when someone wants to manage their money with Christian principals. Dismantling the debt in baby steps is often a necessary task.

Like a runner preparing for a long distance race, debt needs to be attacked in stages. Nothing good is accomplished in paying off so much debt at once that it forces you to go without basic necessities like food and clothing. Cash flow should always be an important part of the debt reduction equation.

Not all debt is equal. When deciding how much debt you need to pay down, there are a few questions that you should always ask yourself.

How big is your debt?

Small debts are easier to eliminate without having a negative effect on your cash flow. In this situation, it makes sense to pay off the remaining balance right away. You’ll save money by avoiding interest and it will not be too difficult to replenish your cash flow. If your debt still requires more than a year to pay off, wiping out your savings to pay it all now can cause problems down the road – especially if an emergency arises.

How high are your interest rates?

The interest rates on your accounts can be a major determining factor in how quickly you pay down a loan balance.

If the interest rate is low enough that paying it off quicker results in negligible savings, it makes more sense to just make smaller loan payments that fit within your monthly budget. You might want to approach high interest accounts before lower ones, especially when it is a 0% interest rate.

If your interest rates average 13% or higher, you might greatly benefit from our Christian debt relief programs.

How much on-hand cash do you have available?

If you do have large cash reserves, paying off a loan rather than continuing to pay interest makes more sense. The rule of thumb for an average household is to have a savings account with enough cash to cover your monthly budget for 3 to 6 months. If you have surplus savings on top of that amount, reducing the debt right away may make the most sense.

Proverbs 27:12 counsels that “The prudent sees danger and hides himself, but the simple go on and suffer for it.” Planning ahead is the smartest thing you can do to balance debt reduction efforts with your cash flow needs. Anticipate major expenses – car repairs, household costs, medical bills – and set aside enough money in your monthly budget to cover these things.

Though simple in concept, budgeting can be a daunting task in the eyes of many people. Keeping track of where your money goes may seem like a chore that is time-consuming and difficult, but it doesn’t have to be this way. Budgeting and keeping track of expenses can be as simple or complicated as you want it to be.

A budget is the foundation of your finances.

Why Keep Track?

Keeping track of your expenses will show you where your money really goes.

Do you know how easy it is to spend an excessive amount of money on unnecessary items? If you get a mocha or latte at Starbucks twice a week for the year, you’ve spent well over $500 on coffee alone.

Removing the Unnecessary Sink Holes

Almost all of us have opportunities for improvement in our budgets. Once you have created your budget and realize where you are spending the largest amount of money each month, you will be able to think about cutting down unnecessary costs that are dragging you down.

Perhaps limiting yourself to one coffee shop trip a month (and making your own the rest of the week) is something that helps you have more cash for other important things. Or maybe you realize you are pumping money into cable TV each month, when you are barely home to enjoy it. Or maybe you find that the money you spend going out for food more often than not would be less costly if you chose to cook at home a few more times a week.

If you aren’t willing to take a good look at where your money goes, then you will continue to spend the same. Saving up, paying debts and living within your means are facets of a solid steward. Don’t squander what you’ve been given–be responsible with it.

You Can Still Have Fun

This might sound like if you keep track of where your money goes then you will feel guilty for having any fun, but that shouldn’t be the case. Having a special column in your expenses for entertainment is a good idea, but this should be the lowest cost of the month or a treat for when you settle your first debt on your Christian debt settlement plan. Entertainment would include TV, desert and coffee, shopping for fun and doing other entertaining things like going to a basketball game or concert.

Getting Started

Whether you use a piece of paper, an excell spreadsheet, or software you find online, the important thing is to take action.

There are programs out there that offer to take your card spending and filter it into a readable format of expenses. You can also do it yourself, but the most important part about this is that you start immediately and you keep up with it!

Each week you should enter your costs that you have paid out and any money you have brought in. Keeping your receipts for the day until you can enter them into the computer will help you not forget what you’ve spent money on.

Your budget is going to be the foundation of your finances. Take the time to create an honest budget and you will be well on your way to achieving your financial goals.

It would be ideal if the life stages involved in raising children and caring for aging parents occurred at separate times. However, many parents of young children find themselves caring for their own parents.

According to the Pew Research Center, 47% of adults in their 40s and 50s are both rearing children and caring for aging families. These members of the “sandwich generation” are simply following the words of 1 Timothy 5:4 which reminds us, “But if a widow has children or grandchildren, these should learn first of all to put their religion into practice by caring for their own family and so repaying parents and grandparents, for this is please to God.”.

Anyone who has been in this situation knows that juggling the priorities of multiple generations and maintaining financial balance can be quite difficult.

Open Communication With The Older Generation

Communication is the key to navigating this could-be stressful situation.

Loss of independence and financial matters are both sensitive topics. In the early stages of caring for a aging parent, ask them which financial matters they feel capable of taking care of themselves and which ones they feel comfortable handing over. Specifically discuss who will pay bills, who will make bank deposit and withdrawals, and who will work with insurance companies.

Lean toward helping them maintain as much independence in their own finances as possible, but keep an eye open for signs they may need more assistance. Even if they don’t tell you something is a struggle, it might show through in time.

Aside from the financial aspects, multiple generations living within the same home raises questions about raising children. Talk with your parents about your approach to child rearing, including schedules, who will provide discipline and which discipline methods you use. Being sure everyone in on the same page in the beginning will save frustrations and misunderstanding later.

Open Communication With The Younger Generation

The age of your children will largely guide your discussion about caring for their grandparents. However, even young children can understand the message of Acts 20:35; “It is more blessed to give than to receive” and this is an excellent opportunity to teach compassion and empathy.

Children can play a helpful role in helping a grandparent adapt to a new living situation.

The good news is, multigenerational households offer an excellent opportunity for children to form strong bonds with grandparents. Encourage children to listen to stories and ask questions about their grandparent’s younger days. The older generation will love reminiscing, and the younger generation will cherish the memories they make.

Organize Financial Information

It is important to organize financial information as early in the process of caring for aging parents as possible. The will prevent scrabbling for the information, or being denied access, when it is needed. Round up and organize…

• Social Security Numbers
• Bank account numbers and safety deposit box information
• Insurance policies
• Past tax returns
• Contact information for doctors, lawyers and other professionals

Consider All The Options

Caring for aging parents can take many forms. The arrangement you select will depend on the older generation’s health, as well as the financial impact.

Caring for aging family members while they continue to live in their own home, known as “aging in place”, allows for the highest level of continued independence. However, this plan requires the financial resources to maintain two households. Though it can be difficult, it may be possible if the older generation owns their home, has no debt and significant retirement savings.

Nursing facilities offer the lowest level of independence and can come at a high cost. However, they provide higher levels of skilled care than a family member can provide. Depending on income, there may be financial assistance available to mitigate the cost.

Merging households offers a compromise between the two extremes, and can be a cost-effective solution. Don’t assume that your parents need to move into your home. If their home is already paid for, while yours has a mortgage, it may be better for your family to move in with them.

Whichever solution you choose today, don’t assume it will always be the right one. As health conditions and finances change, it may be necessary to make another move.

Set Aside Time For Your Children

In addition to the financial commitments, caring for aging parents creates new demands on time and emotions. In order for children to continue to thrive and grow, you’ll need to take special care that they get one-on-one time with Mom and Dad.

Plan ahead for special outings and private quite time with children on a regular basis. When children know that they’ll soon have time alone time with parents, they are better able to handle the day-to-day distractions. Also, check in with children continually to find out how they are feeling about the situation and be sure they know they can come to you at any time to talk, ask questions of just for a hug.

Continue To Plan Ahead

Though caring for an aging parent forces the focus to the here and now, it is still important to plan for the future. Trim the budget, to the bare necessities if necessary, so that you do not dip into emergency accounts or your own retirement savings.

In the best-case scenario, continue to contribute to education savings for your children and to your own retirement accounts.

Ask For Help

When caring for an aging parent, the road can be long and difficult, but you do not have to walk it alone. Engage siblings and other family members in honest conversations and develop a plan for managing both the day-to-day responsibilities and the financial obligations together. Also, contact your county’s Office On Aging to find out what resources are available in your area.

Caring for aging parents, while also raising your own family, can be a difficult journey, emotionally, practically and finically. However, it is a responsibility with it’s own rewards.

The Christian life is one of sacrifice in its very nature. Our entire religion is based on the sacrifice that Christ himself made. Throughout the New Testament we are urged to sacrifice; sacrifice our selfish desires for Godly desires, sacrifice our evil pleasures for holy pleasures, and yes sometimes even to sacrifice our money.

There are folks who would say, “God doesn’t need my money, so I’ll just keep it for myself.” True, God Himself does not need money, but money is and always has been a magnifying glass that can reveal an individual’s heart pretty quick. Money in the hands of an evil man can empower that man to do greater evil. While money in the hands of a good man can empower that man to do greater good. Money does not cause people to be good or bad it is just one way that their goodness or badness is revealed to the rest of the world.

This is why Jesus told the rich young ruler in Mark 10 to go sell everything he owned and give it to the poor. Not only would this help the poor, but also reveal what was really in the young man’s heart. The young man chose to keep his money rather than help the poor and follow Christ. The money was just a peep hole into his soul.

When you feel the internal push to make a financial sacrifice the first emotion that wells up in you is an indicator of what state your heart is in. Here are a few areas in which we are most commonly asked to sacrifice financially.

Tithing

The tithe may be an Old Testament idea but the logic never grows old. Even if God does not need money, a church must have money to operate. When you are a member or attendant of a church, you are benefiting from that church each time you visit. You get spiritual help from the pastor who needs to be financially compensated for his time and efforts. You are being warmed or cooled by the heating and air system which must be paid for monthly. You are reading your bible because of the electricity which must also be paid for. You use the facilities which also cost money. The church is there to be a blessing to the congregation, and the congregation has an obligation to contribute financially so that the church can continue to be a blessing to the community.

Personal Giving

There is no systematic rules for personal giving like there might be for tithing. Personal giving is just that, personal. The key to personal giving is to be tuned in spiritually to the needs of those around you. We all know what it feels like to be nudged into action internally. When you feel that nudge, your own personal desires should be put on hold for the good of the one in need.

If you feel as if you never have money available to help others, sit down and do a really honest evaluation of your spending. If you find you have more going out than coming in, you may want to speak with an advisor about Christian debt relief programs that can help you improve your financial situation so you can give more.

As you look through your budget, try to find one thing you or your family do that is unnecessary. It could be monthly movie rentals, or office coffee runs. Saving up that money, even for just one month can be contributed to a worthy cause. Start a change can for a missionary, cash it out monthly then send the gift with a letter of encouragement. Even these small acts of sacrifice are pillars of Christian money management and make a difference and feed your spirit.

Personal Finances

There is a good amount of sacrifice that must go into reinventing your finances. A household drowning in debt and stress does not glorify God. A budget so strapped with debt payments that tithing and personal giving goes out the window does not glorify God. In order to turn that situation around an individual must buckle down and sacrifice some of the loose spending habits, feelings of entitlement and sometimes even a few possessions in order to accomplish this goal.

When we take the time to conduct a true and honest evaluation of our spending we will often find that we have a greater capacity for giving than we may have thought. If you find room in your budget for giving but have a difficult time actually giving the money away, spend some time in prayer to find out why. It may be insecurity, it may be greed, or it may be something else. No matter the reason, it is an opportunity for spiritual growth.

Social status is a mysterious element of our society. All of us feel its presence, but few of us understand it. The Encyclopedia Britannica describes social status this way, “The relative rank that an individual holds, with attendant rights, duties, and lifestyle, in a social hierarchy based upon honor or prestige.” This “prestige” of course is relevant to your own personal social circle. What might not be looked upon as social status in some circles may be very important to social status in other circles.

In our “middle class” society, social status is most often defined by our education, occupation and possessions to varying degrees. Our homes would probably be the top possession that can influence our social status, but coming in at a close second is definitely our vehicles.

From the moment the vehicle was invented it has been a symbol of just what kind of person you are in the eyes of the people around you. In the early years only the wealthy, modern families had a “horseless carriage.” The same judgments, however, are still being passed today on individuals who perhaps do not own a car, and more often judgments are passed on you based on the year, make, model and condition of your car. This pressure springs us into the “vehicle trap” where we place much too high a value on our vehicles, an emotional value, that will often come at a major financial expense.

This is a problem for the Christian who is attempting to get out of debt or reinvent their financial life to reflect more control and security. Why is this a problem? It is a problem because the root of this entire social status issue has always been pride and our vehicles are a daily reminder of our social or financial status. Most people are familiar with the twinge of embarrassment at some point in their life of having to drive or be driven around in a car that they felt was “beneath” them. That feeling was your pride revolting against something.

“Pride goes before destruction.” Proverbs 16:18

Nowhere is this passage better reflected than in our finances. Pridefulness can cause certain financial destruction when you allow your emotions to influence your spending decisions.

It has become a norm in our society to have monthly payments on our vehicle. For most purchases in our lives, we know that we should save the money and then buy the item. Mortgages and vehicles have become an exception because of their high cots, but in the case of the vehicle it is largely because we are living beyond our means.

Car payments are, in most cases, one of the most unnecessary of all debt payments that individuals strap themselves to. You may say, “I must have a car.” That may be true, but must you have a car that was so expensive that it required you to take on payments? In many cases the answer is no. You chose a car that was above your financial means because it was cool, it was fast, it was pretty, it would make people say, “Wow, nice car.” People want to hear this, and they want to hear it because of their pride.

Affording a nice car is entirely different from strapping on debt for a nice car. If you are already making debt payments on other items or if you have set as a goal for yourself to be debt free, then there is no excuse for taking on an exorbitant car payment when there are cheaper vehicle options available.

Four Surprising Benefits to Avoiding Car Payments

Savings on Interest

Okay, this one isn’t so surprising in and of itself, but the numbers are! According to Edmonds.com, 55% of loans taken out in 2012 were for terms longer than 60 months. That added anywhere from $2,115 to a whopping $5,548 in interest charges above the purchase prices of the vehicle.

Lower Insurance Premiums

When you take out a loan for a vehicle vehicle, the lender holds a lien against the car. You must then meet lien holder insurance requirements that are often above what your coverage would normally entail. Purchasing a vehicle outright eliminates that additional expense.

Opportunity for Personal Growth

If you battle with the desire to keep up with society’s expectations of what kind of car you should be driving, purchasing a car that might not be quite as shiny as the new ones on the lot is an opportunity for personal growth. A shift in your priorities can help you become a more humble individual.

Freedom

This one is especially true as compared to the alternative option of leasing a vehicle. If you own your car outright, there is no concern for how many miles you will drive, or how long you must keep the vehicle. If you find your situation has changed a year after buying the car, you can sell it or trade it in for a new car. With a lease you might be stuck with the car longer than you would want. With a loan, you might be upside down and be unable to trade it in without creating financial pressure.

Ask yourself these questions if you are in need of a vehicle right now:

How much cash do I have on hand to purchase a vehicle?

If you can pay cash for a cheaper, older car do so! This is the wise financial choice.

If I must make a payment which vehicle will have the lowest payment?

Think of this car as a temporary car. This is your “getting out of debt” car. Once you are financially free you might be able to upgrade a bit with cash!

If I knew that no one at all would ever get to see my car, which car would I choose?

This will help you evaluate whether you are functioning off of prideful emotions or practical need.

Buying a vehicle is a major purchase. Take the time to review your budget and carefully evaluate your financial situation before making the decision to take on a monthly payment when it may not be necessary.

If you live in your average American community, it is easy to miss seeing the struggles of others in areas where money and resources are scarce. In poor countries, and even right here at home, a few dollars can have a tremendous impact on the lives of the needy.

Looking at money from this perspective allows you to better manage your finances and apply Christian principles to your budgeting.

How much can a few dollars do?

To help put things in perspective, we found a few Christian charities that provide examples of how a small donation can make a big difference in the lives of recipients. A different outlook can show you the real value of money.

$10- The cost of two specialty coffees

Give a homeless child a full day of meals.- Covenant House

$13- A trip through the drive through

Help support a child in poverty for an entire week.- Compassion

$16- The price of an average t-shirt

Provide a hygiene kit to a needy individual.- World Vision

$20- Going to the theater for a date

 Provide two mosquito bed nets and help prevent disease in poverty stricken areas.- Compassion

$35– “That cool new Chomecast thing”

Provide bedding for homeless children and teens.- Covenant House



$54- The monthly gym membership you aren’t using

Feed a family in America for three days. World Vision

$67- The cost of a new video game

Buy a share of a bakery cart in Bolivia, which helps those in need start a business and build a livelihood.- ChildFund International

$137- The expense of a single day at a theme park

 Help impoverished mothers get small business loans. ChildFund International

Using Our Blessings

When we take the time to plan our finances, we can reduce impulse purchases that not only save money, but also give to charity. I know that much of the money I spend would be put to much better use elsewhere.

Somewhere along the line we got our priorities mixed up. We make unnecessary purchases without though or consequence. For someone struggling to acquire food and shelter, small amounts of money make a big difference.

Whether the funds go to hungry children or homeless teens, every dollar counts. Keeping the real value of money in perspective shows just how better off we would be putting that money elsewhere.

 

It is a fact: more Americans are in debt today than ever before. According to Forbes, consumers saw their credit card debt jump to $856.5 billion as of May 2013, and credit cards are only one source of debt that people carry with them.

While financial troubles can certainly be the result of a difficult economy, let’s face it, we all play a role in our own finances. Short of a sudden job loss or a financial emergency, most financial struggles are a result of our behavior. Let’s take a look at what might be keeping you in debt.

You Are Relying on Credit Cards

“Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it?” – Luke 14:28

As tempting as it can be to put purchases on a credit card, resist doing so. Use them only in case of a true emergency. An example of this might be if your vehicle breaks down unexpectedly and you need to have it towed. Ideally, you could rely on your emergency fund to cover those costs, but if you aren’t there yet this is when you will want to reserve using those cards.

If you often reach for your credit card on impulse, leave your cards at home when you shop. If you see something you want and you do not have the cash budgeted for it, do not buy it. Go home and think it over for a few days. If you still want it then, make a plan for the purchase and save up the money for it.

You Are Over-Complicating Your Life

“A pretentious, showy life is an empty life; a plain and simple life is a full life” -Proverbs 13:7

We live in a world where more is better, and that spills over into the way that we live our life. So many of us try to add so much onto our list of things to do that we cannot enjoy the simple gifts that God has provided to us.

Rather than trying to have your child add take on another extracurricular activity (which often cost money), set aside a day or two each week to go to the park as a family. Take some time and use some creativity to find some ways that you can simplify your life, you will often find that over-complication comes at a cost.

You Are Not Living Within Your Means

“Keep your lives free from the love of money and be content with what you have, because God has said, ‘Never will I leave you; never will I forsake you.'” – Hebrews 13:5

These days, we are all bombarded with images that scream Buy! Buy! Buy! As a result, it is incredibly common to fall into the materialism trap, though. Living in a bigger house or driving a new car will not make you happy in the long term. It is likely to only make you want more stuff.

If you are tempted to ‘keep up with the Jones’ by buying the latest and greatest things other people have, a shift in priorities may be in order. Coveting another’s possessions only leads to grief and debt.

This is certainly not to say that we cannot have nice things, we need only be sure that our priorities are in order. When considering a purchase I will often ask myself if it is going to bring added fulfillment to my life, or allow me to spend enjoyable time with my family. Not all purchases will fall into those categories, but do your best to make sure it isn’t going to pull in the opposite direction.

If nothing changes, nothing changes. Follow the basics of Christian finance and apply God’s word, and you too can enjoy a debt free life.