Finding Financial Freedom

It is not always a lack of money that leads to financial problems. It is a matter of attitude. Money itself is not evil, our attitude toward money can be (1Tim. 6:10). Jesus warned his followers to guard their hearts against greed (Mat. 6:24).

Here are 10 steps to gain a right heart attitude toward money and gain financial freedom:

Step #1: Transfer Ownership To God

God is Creator and Owner of all that there is (Exo. 19:5, Psa. 24:1; Psa. 50:10; Hag. 2:8). All we have and all we are belong to him (Deut. 32:6, Ezk. 18:4; Rom. 14:8, 1Co. 6:19). By faith we must transfer ownership of all that we have over to God.

Step #2: Accept God's Provision

God is good toward his people. He is the great giver (1Chr. 29:14-16; James 1:17). He gives:

	wisdom (Prov. 3:13f, 4:7, 8:11, James 1:5);
	wealth and the power to get it (Deut. 8:17,18);
	work and the ability to enjoy life (Ecc. 5:18-20);
	food and all things to enjoy (1Tim. 4:3-5, 6:17);
	riches and honour (1Chr. 29:11-16);

Most importantly he gave us his own dear Son (John 3:16).

God's provision is sufficient for our needs (Phil. 4:19). We must learn to be content (Phil. 4:12; 1Tim. 6:6, 8; Heb. 13:5 Deut. 31:6). We learn contentment by giving thanks for the good things the Lord provides day by day.

Step #3: Accept Your Responsibility As God's Steward

A steward is someone who manages the property of another.
As God's stewards, we are responsible for managing his property in a way that will please him. From "The Parable of the Talents" (Mat. 25:14-30). we see:

	The Talents belonged to the Master.
	Each servant was given responsibility according to his ability.
	Each was expected to make a return only in proportion to his ability.
	The faithful stewards were rewarded.
	The unfaithful steward lost everything, even the little that he thought he had.

Step #4 Be A Generous Giver

Our giving is a testimony to our belief in God's ownership. Our giving should be of the "firstfruits" of our income (Prov. 3:9).

Tithe means "tenth." The giving of a tithe or 10% to God did not originate with the Law:

	It was practised by the patriarchs (Gen. 28:22).
	The Law made the tithe holy (Lev. 27:30-33, Num. 18:21-32, Deut. 12:5-18, 14:22-29).
	Jesus himself approved of the tithe in the New Testament (Matt 23:23).

Christians are not under Law (Rom. 6:14, Gal. 5:18) but our giving should be (1Cor. 16:1, 2):

	systematic and not haphazard;
	on an individual basis;
	in proportion to how God has blessed us.

The righteous of Israel gave at least 10%. Statistics tell us the average Christian gives 2.9%. Can any New Testament believer be less blessed than their OT counterparts? (2Cor. 8:9).

Step #5 Develop A Budget

A good steward will work with a budget (A written plan of expected income and expenditure). It will include such things:

Tithes and Taxes; Housing and Utilities.
Food and Clothing and Automobiles.
Insurances and Medical / Dental expenses.
Debt reduction and Savings.
Entertainment and Recreation.
Miscellaneous.

We must have money set aside for these bills when they fall due or we will meet with disaster. Solomon urges us to follow the example of the ant (Prov. 6:6-8). Jesus acknowledges that it is prudent to count the cost (Luke 14:27-29).

Step #6 Get Out And Stay Out Of Debt

Credit is not a problem. It is the misuse of credit that is a problem.

It is not wrong for a Christian to be in debt, but it is wise to get out of debt quickly. God's minimum for his people is that they pay back what they owe (Psa. 37:21). The Christian is most free to serve God when he or she is free from debt (Prov. 22:7). So:

	Commit yourself to allow no more debt, including bank and personal loans;
	Cut up all credit cards if unable to pay them off each month;
	Develop a realistic budget that will allow every creditor to receive as much as possible;
	Start paying back the debt, beginning with higher interest loans, smallest debt first;
	Once the smallest is paid off, put all the money on the next, and so on;

You can be debt free in five to ten years.

Ten Ways To Pay off Your Mortgage Faster

You can save by paying off your mortgage faster:

1. Borrow less to begin with.
2. Make your payments more often (from 12 monthly to 26 fortnightly).
3. Increase regular payment ($25 per f/n on $100000 @ 6.95% saves +6 years & +$33000)
4. Make extra payments when you can ($1000 now saves 1 year & +$6700 as above).
5. Pay the full amount during the "honeymoon" period.
6. Have a revolving credit account with declining balance.
7. Pay fees upfront (Don't load them on the mortgage)
8. Make sure the loan is portable to another property.
9. Refinance if you find a better deal.
10. Shop around for a package deal.

Step #7 Start A Savings Plan

One should get into the habit of putting something aside as savings out of every pay. Savings can be used for specific purchases or emergencies, rather than credit.

God considers it wise to "put something aside" (Prov. 6:6-8).
There is a difference however between saving and hoarding: establish financial maximums. When you begin to invest remember it is wise to diversify (Ecc. 11:2).

Step #8 Avoid Indulgences

Most Western Christians are self-indulgent. Indulgence is greed (Eph. 5:3). If you want to be free always ask yourself: Is this expenditure or purchase a need (a basic necessity such as food, clothing, and housing),a want (things that make life easier, such as more expensive clothes, a better car, a VCR), or a desire (expensive wants, such as designer clothes, a new BMW, or a wide-screen TV).

Step #9 Avoid Snap Decisions

Avoid impulse buying, get-rich-quick schemes, financial decisions under pressure (Prov. 21:5). Pray about each purchase, each decision, each opportunity (Remember 1Tim. 5:8!). Many times we get involved in doubtful schemes prompted by envy (Psa. 37:7).

Step #10 Put Others First

Christians seeking financial freedom must always be willing to put other people first.

	Is only by losing our life that we will find true life!
	We are to be "good stewards of the manifold grace of God" (1Pet. 4:9-10).
	The welfare of others must be considered (Heb. 13:16).

It is not God's plan for us that we should get ahead at the expense of another or at the expense of our testimony.

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