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Why do I indulge in excessive spending?

Avoiding the Pitfalls of Excessive Spending
by Dianne Becker

“Eat, Drink and be Merry for tomorrow you may die”—Epicurus

This was the Greek way of thinking and has become an American lifestyle. As Americans, we are blessed with so much abundance and easy credit that it makes it easy to get whatever we want, whenever we want it, without waiting until we are financially able to afford it. The problem with this philosophy is that the credit card bill usually comes in before the money does, leaving behind unwanted debt.

The bible says in Proverbs 21:17 (NIV) “He who loves pleasure will become poor; whoever loves wine and oil will never be rich.” What this means is that you must be accountable for your spending and guard your heart from too much self-indulgence.

For example, when you shop, do you plan your trips with purpose or just shop on impulse? Do you save and plan for major purchases? Do you live one day at a time or do you live in view of your future? Do you live within your means or live outside your comfort zone?

Too many impulse purchases can lead to an overload on credit with the inability to pay debt quickly. Worse still, you may find yourself paying a much higher interest rate than you had anticipated. Another downside of using credit cards is that it is easier to slip those extra items in the cart. Studies show that credit card spending results in up to 35% higher purchases, on the average, compared to shopping and paying cash.

Stop, think and look for the best interest rate before you consider purchasing that new car, boat, or house. Take time to consider the total cost instead of just looking at the monthly payments. That can save you money in the long run. In fact, think very, very hard about any new debt! Spending money is simple but it often leads to the slippery slope of debt bondage.

Eating out has become a way of life for many who are too busy, too tired, or too stressed out to cook at home. Dining out on a regular basis can easily triple or quadruple your food allowance.

So what must you do to avoid the pitfalls of excessive spending? This calls for a change of heart and a focus on God’s goals for your life. The Bible says in Proverbs 3:5 (NIV) to “trust in the Lord with all your heart and lean not on your own understanding.” To trust in the Lord means that you must give up your ways of doing things. Easy credit has opened the door to easy spending which in turn leads to debt bondage. It is not God’s will for you to be in debt. He has a plan of freedom for all who will trust Him. If you allow the Lord to make the necessary changes, then you will be on the pathway to freedom from debt.

Find out what God has to say about debt and discover His freedom plan for you. Financial Freedom in 7 weeks Plus will answer many of your questions concerning God’s plan for your finances. As you learn that all financial decisions are really spiritual decisions, you’ll be well on your way to “living loud and leaving a legacy.”