Articles > Spending
How am I spending my money each
month and does my outgo of cash exceed my income?
Are My Monthly Living Expenses
Ruling How I Live Monthly?
By Elaine Bechtel
Are you not able to do what you want, when you want,
because your money has already been spent? Have automatic
debits taken over your checking account? Are you afraid
to answer the phone or door because it may be another
creditor? Is Stress taking a toll on your health and
relationships? Do you argue about money? If you are
answering yes to these questions, then your spending
is ruling and ruining your life. It’s time to
step back and take a look at what is happening. Ask
yourself: “Is there a way to live so that I reduce
my expenses now?”
I can remember a time when I thought I would never
get out of debt. But I made a plan and committed to
repayment. I set up a spending plan and cut back on
excesses. By applying the action steps below, I found
I could control my spending while I was getting out
of debt. This gave me a sense of accomplishment and
strengthened my resolve to live debt free.
The action steps below will help you avoid going further
into debt:
- Set up values and goals to direct your spending.
Ask yourself: “Does this purchase reflect my
values or help me achieve my goals?”
- Avoid using credit cards. If you do, pay them off
when the bill comes.
- If you are an impulse buyer, wait three days before
you buy anything over a specific amount. (Ex.: $100)
- Evaluate your purchase:
a. Is it value for price?
b. Does it meet a need or a want?
c. Will it be around long after it’s been paid
for.
- Research the purchase:
a. Find the store with the best price.
b. Can you save up and pay cash?
- Visualize your debt free life; positive daydreaming
encourages you to reach your goals.
God owns everything and we are His stewards, so every
spending decision is really a spiritual decision. Let
God’s Word from Romans 13:8 (NAS) be your target:
“Owe nothing to anyone except to love one another;
for he who loves his neighbor fulfills the law.”
And, draw your strength from Philippians 4:13 (NAS):
“I can do all things through Him who strengthens
me.”
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