Personal finances are just that: Personal. One blog post can’t answer everyone’s questions on what they should do in their own family’s money situation. One blog post shouldn’t be taken as all there is on this subject. But everyone needs a place to start. Anyone who thinks that money isn’t important is just plain wrong. The bible talks a lot about money. It must be pretty important if God put it in the bible. And yet, it’s one of the biggest areas of our life that we ignore, but that we hope all works out. But it won’t by ignoring it. Especially the subject of debt. The bible has nothing good to say about debt. Nothing. So, with that being said, if you’re in debt and you want to get out of it and take control of your money, keep reading. So without further ado, here are the 3 basic principles to get out of debt and start on the road to take control of your personal finances:
1) Stop going into more debt. Stop borrowing more money. Seems simple huh! You can’t get out of a hole by digging out the bottom. This one’s not too complicated but it will be hard to start. Cut up your credit cards and most importantly, follow the next 2 steps because it’s a packaged deal. NO MORE DEBT!
2) Get on a written budget. Do a new budget, every month, before the month begins. Tell your money where to go. John Maxwell said “a budget is you telling your money where to go instead of wondering where it went”! Dave Ramsey says “When you spend your money on paper and on purpose each month with a written budget, you’ll actually experience more freedom than before!” DO A BUDGET!
3) Get on the same page with your spouse. It is vital, let me repeat that, it’s VITAL that you and your spouse be on the same page with your finances. Since money issues are the number one cause of marital issues and divorce, it’s also the number one opportunity to strengthen your marriage. Please hear this: if you and your spouse talk about your finances and agree on your spending, you’ve just agreed on your value system. Your marriage will be so much better because of it. WORK TOGETHER!
There you go. Simple and basic huh? Yep. It’s easy right? Nope. It’s actually easier said than done. You have to really want it. It’s like a diet. Find your why factor, make the decision and then go for it. If you’re like me, you like basic and easy to follow steps to get you started. Especially in an area that’s so big and intimidating. It’s not easy… But it’s worth it. Trust me. Start handling money God’s way! Basic principles. Baby steps. GO!
Please see my resources “Finances 411” page for tools to help with the above steps.