You are currently viewing In Case You Missed It Series 2 Day 5: Money Management

In Case You Missed It Series 2 Day 5: Money Management

In Case You Missed It Series 2 Day 5: “Money Management” by Jonathan Draper

This is a fabulous study that gives some great insight on managing our money. Jonathan is a tax accountant and has a firm grasp of the subject. For any believer, this subject is so applicable and helpful, so follow along this week to learn more.

(Whose Money Is It?) “A steward is someone who manages or looks after another’s property. As stewards, it is essential that we understand that what we have is not our own. The money and possessions that we have do not belong to us; they have merely been entrusted to us. We are responsible to use them in the right way, and we will be held accountable for how they are managed. Even if you are blessed with unspeakable riches like Jerry Seinfeld, you are still just a steward of God’s possessions. We do not give some of our wealth to the Lord and do what we please with the rest—it is all His.” 

(Potential Pitfall of Money) “We as Christians are not called to put our trust in the riches of this world. Fortunes can be lost overnight, markets can crash, disasters can happen, and wealth can dwindle quickly. Let us instead be content with what we have and be generous with the blessings we have received from the Lord. It would be my prayer that a spirit of contentment would characterize each one of us and that we would be reminded daily that our treasure is not here on earth but in Heaven.”

(Giving) “Giving is one of the most important topics when it comes to biblical money management. It’s a concept that’s very well understood by the population at large, too. A recent world survey found that Americans were the most generous people in the world. I am not entirely sure how true that is, but the National Philanthropic Trust estimates that Americans gave about $450 billion in 2019. Corporations were responsible for giving $21 billion, foundations gave $76 billion, and bequests accounted for $43 billion. However, the largest share of giving in the United States came from individuals at a whopping $310 billion.”

(Dealing with Debt) “I am not going to say that there is no circumstance in your life in which you should not take out a loan of any kind. We do not own our house (there is still a mortgage attached), we use credit cards to pay bills and earn cash back (balance is paid every month), and we have even used loans for larger purchases, like an HVAC system (0% interest!). Realistically, most of us would probably have paid off a mortgage by the time we were able to save up enough cash to buy a house. That being said, we should strive to live our lives without depending on debt at every turn.”

(Saving and Investing) “I prefer to have an account for short-term savings and an account for long-term savings. The short-term savings account is just our joint checking account. There is a small cash buffer in the account that stays there until there is an immediate need that comes up (new tires, medical bill, etc.) and our monthly earnings are not enough to cover the expense. We also have a long-term savings (money market) account that has a higher balance in it for larger, unplanned expenses that could come up (car dies, HVAC unit needs replacing, roof is leaking, etc.).”

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