I grew up in a home where we didn’t talk about money very often. I never had a savings account, I never made long-term financial plans, and when I received a paycheck, it was usually spent within a few days.  Fortunately, over time I have learned a better approach to handling my finances.

Proverbs 15:22 says “Plans fail for lack of counsel, but with many advisers, they succeed.” I have been blessed to have had many counselors over the years who have given me sound financial advice. Today, I am glad to say that by the grace of God, my wife Rose & I are completely debt free. This gives us incredible freedom to continue to serve in ministry and also be generous to others.

Below are 7 tips that have helped us to manage our finances well:

#1. Tithe 10% back to God.

1 Chronicles 29:14, “But who am I, and who are my people, that we should be able to give as generously as this? Everything comes from you, and we have given you only what comes from your hand.”

King David understood that everything he owned was a gift from God. Being able to manage our finances well involves having our priorities in order. Our first priority should always be God, so make sure to give Him what is already His.

#2. Just say “no” (to debt).

Proverbs 22:7 “The rich rule over the poor, and the borrower is slave to the lender.”

Debt is not spoken well of in scripture.  ” Yet in our society, we are constantly bombarded with phrases like “90 days same as cash”, or “1-year free financing”, or “Only $199/month”. Each of these phrases speaks of buying something that we can’t yet afford, so we make ongoing payments instead. Biblical wisdom would challenge us to wait on these purchases until we have the cash in hand and to exercise the spiritual fruit of patience.

#3. Start an Emergency Fund.

This advice is the first step in Dave Ramsey’s Financial Peace University training course. We will never know what emergencies are coming our way, and without an emergency fund, we will be forced to borrow money to pay for them when they come. Start by saving weekly until you have a savings account of $1,000. Trust me, you will be glad you did this.

#4. Plan your meals weekly.

I don’t know about you, but if I’m hungry and I don’t have a plan, I will simply go out to eat. Eating out is easily one of the biggest wastes of money in our culture. When we go out to eat, we are paying not only for the food but also for the purchasing, preparation, and serving of the food.  It makes sense that eating at restaurants is much more expensive than cooking at home. I’m not saying to never go out to eat, but go because it’s in your plan, not because you don’t have a plan.

#5. Make lists before shopping.

Every mall, grocery store or department store is counting on you to make emotional purchases. The candy bar display at every checkout register is one example of it. Before you enter into that arena, make a list of what you need to purchase and stick to the list. It’s amazing how much money you can save by simply doing this.

#6. Create a budget.

Every project I’ve ever managed in my professional career came with a budget. We all know that managing our finances with a budget makes sense, but it also takes time. It’s worth the time. Create a budget, track your spending and review your spending every month. It makes a huge difference!

#7. Lastly, be content.

1 Timothy  6:6-8 says “But godliness with contentment is great gain.  For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.”

I’ve had the privilege of visiting several countries around the world on mission trips. I’ve seen first hand what absolute poverty truly looks like, and I’ve always come home with increased gratitude for what I have. Don’t let the American materialistic culture convince you to live a life always trying to keep up with the Jones’.  Be content with what God has already blessed you with.

 Clint Schwartz is the Executive Pastor. He oversees a number of areas that include Young Adults, Vineyard Kids, Communications, Outreach, and Missions. Clint is married to his wife, Rose, and together they have five children.

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