Be Disciplined in Money Matters

No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it. Hebrews 12:11

The importance of being disciplined in money matters

We are vulnerable people when it comes to temptations to over spend. This fact alone makes it important to actively pray for discipline in money matters. to stay out of financial trouble.

I rolled my eyes as I opened yet another offer to borrow money from my bank’s lending department. They all start with the same concept. “If you need money for [whatever], please call us.” In this case they’d like me to open a home equity line of credit–which I refuse to do. But if I would take them up on this offer, the borrowing is sweetened with no application fees, no closing costs, no annual fee, no balance transfer or cash advance fees either. Why wouldn’t I accept such an appealing opportunity? Because getting mired down in debt is not how I choose to live.

Prayer adds a layer of awareness to our spending

A house is more than walls and windows. It is a home where family feels secure and not a way to fund our lifestyles. Home equity loans, even if they bring immediate relief to a greater financial problem, could eventually jeopardize that position.

Many families in debt get there so slowly that they do not realize it until it becomes an overwhelming problem.[i]

All of us are inundated, from multiple sources, by a barrage of get-what-you-want and get-it-now attempts to draw us into financial bondage. The voices warning us how to do otherwise, how to be disciplined in money matters, are far outnumbered. And sadly, training children to develop good money habits in their formative years rarely happens. Cultural norms push instant gratification. Today it’s quite common for young people to grow up without a good example of how to manage money responsibly.

Family of origin influences the degree of discipline we apply to money matters

Discipline in money matters starts in childhood. (In all fairness, parenting is largely influenced by what took place in our own generation.) Did our parents exercise discipline with their money? Were they set a good example or not? Depending on the answer, a choice is made to copy the parent or do the opposite based on growing up with a negative experience where needs were unmet. My dad was very disciplined with money. So I had a good example of keeping track of daily spending. However, he often held too tightly to his dollars. There needs to be balance in all aspects of money management.

How can overspending, or over-hoarding, be confronted? First, we’ve got to address our inclination to bargain hunt, whether we need the item or not. Second, we’ve got to quiet those thoughts urging us to find a quick fix to make it through a rough patch. Both concepts are strong motivations to borrow. And, if the cash is being held too tightly, lets pray to loosen that grip enough to enjoy some extras.

Be disciplined in money matters by doing more

But there’s still more that can be done to be disciplined money managers. We can deliberately shred those appeals to borrow more money! Out of sight. Out of mind. And we can choose not to spend more than our income dictates. Another smart move is to seek financial guidance from an expert mentor.

The toughest defense is built on a solid offense. I’ve found that without Scripture knowledge and prayer an offense breaks down. Until we know what the Lord has to say about using money, we won’t have enough wisdom to get the desired results, or the motivation to say “No” to tempting offers and spontaneous purchases.

Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless. Ecclesiastes 5:10

Yes, financial discipline is hard work, but with prayer the goal can be achieved. It’s worth pursuing to find the joy of financial freedom.

[i] Howard L. Dayton, Jr., Your Money Frustration or Freedom, 1979, Tyndale House, p. 33