Do you view the holiday season as a time of celebration or expense? While most people look forward to spending time with their family, creating and eating lavish meals and exchanging gifts, others think about the price tag associated with each holiday activity. As you celebrate the holidays, consider these 3 simple biblical principles that will help you manage your money this Holiday season.
Today, Jem is sharing with us some powerful truth found in the Bible so we can manage our money better and enjoy this Holiday season!
Jem is a Christian wife and stepmother to two children. She’s found that for every issue we may have, the Bible has a solution. She loves sharing these answers with people as she breaks down how biblical principles can be applied in daily life. You can find out more about her at Scriptural Gems.
Let’s take a look at 3 biblical principles that will help you manage your money this holiday season
The Bible Can Help You Save Money
It is not easy to save money. Despite the effort we put into building up our savings account, it takes only one emergency to wipe it out.
Recently, a friend of mine shared how her husband went to the dentist for a routine visit and they ended up spending $7,000 in dental expenses. They had to use the money they had saved for gifts to pay for this unexpected incident.
It was fortunate that they had a savings account they could turn to but what if you don’t have any money saved? Now is the time to start.
Most financial planners encourage their clients to save money. As soon as you receive your paycheck, deposit the money in the bank to help you resist the temptation to spend it. Along with accruing interest, the money you save will prepare you for those “rainy days” that constantly occur.
In 1 Corinthians 16:2, the apostle Paul encouraged the Christians to set aside savings every week so that they can later help those in need. That scriptures states,
“On the first day of the week, each of you is to set something aside and save in keeping with how he is prospering, so that no collections will need to be made when I come.” 1 Corinthians 16:2
How can you apply that scripture today? You can sit down with your family and decide together to make saving money a priority. Think of practical ways everyone can save money and each day make a conscious effort to follow your plan. At the end of each week or month, deposit the money saved.
There are many tools out there that can help you save and manage your money this holiday season, including meal planning to avoid eating out, couponing, buying discounted items, buying in bulk etc.
These may require time and effort but will save you money for future use, including helping those you know are in need.
For more ideas on how you can save and manage money, you can check out the other posts found in the Saving More, Spending Less Series:
- 6 Ways to Save Money When You’re Broke
- 5 Easy Ways to Start Saving Money for Christmas Now
- 5 Ways Your Family Can Save Money on Healthcare Expenses
- My Top 5 Secrets to Save More Money
- 3 Things the Bible Says About Money and How to Manage Your Finances Better
- 7 Reasons to Start Building Your Emergency Fund and How to Do It
The Bible Can Help You Budget Your Money
Saving money and budgeting goes hand and hand. Budgeting is the easiest way you can monitor what you spend or reduce your spending.
I mentioned getting together with your family earlier. This is the perfect time to make a list of expenses each month and budget exactly how much you plan to spend.
When you budget correctly, you will have a clear picture of where your money goes. When I first started working as a teenager, it was difficult for me to determine why my bank account wasn’t growing as much as it should be. I had no clue where my paycheck was going.
At age 19, I went online, found a basic budget spreadsheet and downloaded it. This was helpful in showing me what I was buying and how often. I was then able to differentiate between the items I needed and those that I wanted. After focusing on what I really needed and cutting out the less important things, I finally began to see my savings increase.
Creating and following your budget can also help you to reach your financial goals. You will be able to plan for all your expenses including the items you need to buy during each holiday season.
However, you still need to be careful during this time of year. If you haven’t budgeted for holiday expenses, instead of going to the bank to get a loan, think of creative ways to accomplish your goals. In Proverbs 22:7 the bible advises that,
“The rich rule over the poor, and the borrower is a slave to the lender.”
Too many people today are “slaves to the lender” or the bank. We should do all we can to avoid unnecessary debts. Using a budget tracker will help you manage your money this Holiday season.
The Bible Can Help You Plan Your Money Wisely
All the money management tips above involve planning. You must plan how you will save money. You must plan how you will budget your expenses. Planning includes carefully considering all your needs. In Proverbs 21:5, we are reminded,
“The plans of the diligent certainly lead to profit, but anyone who is reckless certainly becomes poor.”
During this holiday season, consider your needs. If you know what meals you plan to prepare, begin to look for coupons or specials on the ingredients.
Instead of buying all your gifts, why not make some of them? Instead of spending money on family activities this winter, why not plan activities that don’t require spending money? Having a good time during the holidays doesn’t have to leave you broke for the upcoming year.
Manage Your Money this Holiday Season
There are many other principles found in the bible that can help you to manage your money. By following its practical advice, you can avoid the pitfalls others face when they spend beyond what they have.
We want to wisely save our money using any of the free budget tools out there and plan for our future. We do not have to be among those early next year that are regretting what they are spending now.
We want to manage our money so that we can have a happy holiday season. We also want to have a happy and financially secure new year.