It's all His

Over the past month, our Wednesday night study has been on managing life, and so far we've covered money and time. In our study we've learned that the key to managing these things is balance, to not go extreme in any area, but to find balance between it all. In managing time you are not to be a sloth or a workaholic, in money to not be a chronic spender, or a miser. In all this, the way to achieve balance is to remember this one thing:

It's all His

Psalm 24:1 "A psalm of David. The earth is the LORD's, and everything in it. The world and all its people belong to him." 

We must remember that everything we have is on loan from God. Not just the tithe you put in the offering plate every week, but everything. Every penny, every breath, everything. Jesus tells a parable about a master giving talents in Matthew 25:14-30. The master was angry at the servant that just held on to his money. Why? He didn't invest. What does God want us to do with the money (and time) He's given? He wants us to invest in the Kingdom of God. That may look different for different people. Here is how it might look for a Saver and a Spender:

Spender

If you are head over heals in debt, can't go to a sale without loading your cart, or must constantly have the newest thing, you may be a spender! Perhaps you think you're in the clear here. You give generously to the church, and basically to anyone who asks! What does investing in the Kindgdom look like for you? If you are in a great amount of debt, would you be able to go to a new mission field if God called you? Since God has given you this money, are you being the kind of steward that He would want you to be? Part of being a child of God is being ready to answer His call, whatever that may be. Would your finances allow you to do that?

Saver

I know someone who is what I would call an extreme saver. He literally thought of the cost of everything. He never accumilated debt, and if he loaned you money, he made you regret ever asking in the first place.  If he didn't say anything to you personally, behind your back he would talk about how much it cost him. For instance, one time the pastor's wife called and asked if she could borrow 10 boiled eggs for a 'Minute to Win It' game they were doing at the church. He said yes, but as soon as he hung up, and went on and on at how much those eggs cost him and how he would now have to pay for more eggs for himself! (They were about a dollar!!) This guy is a very extreme case, but there are those of us who do have a hard time letting go of what we feel like is 'ours'. But the thing is, it's not ours to begin with, but only on loan from the Lord to invest in his work. Doesn't mean we can have vacations and nice things, but means that our hearts are in a giving mode. For a saver this means changing your mindset and giving God a tithe of what is already his anyway. This means proactively looking for chances to give to others, and when you do so to not stress over how much it cost you. 


For most of us, we may fall somewhere in the middle of these two extremes. Whatever the case may be, let's look at our mindset of money and view it from the standpoint that it never was ours. It's always been His. How are we investing what He has given us? 

Saving When There is Nothing in the Budget to Save

My husband and I were newly married, living off of one income (teacher's aid and small youth pastor's salary combined to equal about $1200 a month), using one vehicle, and just trying to survive. We were both familiar with Dave Ramsey's approach to money, and although we had no debt, we also had no savings. Wanting to remedy that, we both started thinking of ways to build a savings, when we really didn't have means to do so. It was a blown tire that caused us to have to borrow money, that helped us really start putting money into savings. We wound up building a $1000 emergency savings before my husband ever moved to a more profitable job. Here is how we did it:

We Put Money in a Savings Account

'Duh!' you might say, but its funny how hard it is to put money back even when you've decided you are going to save. Be it $15 or $150, to start feels like an accomplishment in and of itself! Once you put that first amount in, determine how often you are going to add money into savings. It can be weekly or monthly, but it needs to be somewhat consistent. Build a habit while you build a savings! 

We Found Ways of Making Money on the Side

For us it was me teaching piano. I loved teaching, so turning my piano playing skills into something profitable was easy for me. I mention some ideas in my blog post 'How I Can Afford to be a Stay-at-Home Mom' that you can go check out. If you believe you have no talents, or no time for your talents, then perhaps it's time to declutter your home! Find things you don't need anymore, and turn it into profit. It might not make a whole lot, but it's money that you didn't have before that can help you build a savings. 

It's easy to want to put that side money into checking right away, or buy that pair of shoes that you've been eyeing. Remember your goals, and put the money into savings without a second thought! Ten dollars here and there does add up, and you'll feel better and more secure for having an emergency fund set aside. 

We Changed Parts of our Lifestyle 

Fewer movies, less expensive meals, thermostat set on a lower/higher temperature (according to the season), all to cut costs. When we noticed we had more money at the end of the month because of it, we put it into savings. Some things seemed easier to give up than others, but because we knew it was a short term deal to have a long(er) term savings, it felt doable. 

We Didn't Spend out of Savings Unless it was an Emergency

This is a very hard one, and sometimes there are circumstances that seem like emergencies at the time, but later you feel like you could have done without. Sudden vehicle trouble, health emergencies, etc, are why you have a savings. Don't second guess those circumstances, however, there are less important things that come up that may leave you wondering if you should dip into savings. Pray about it. See if you can move around your main budget to fit the 'emergency' (don't eat out that week, avoid the dollar bin at Target, etc.). If you feel like you need to use it, go ahead, but have a plan on how you will build your savings back to where it was before, and don't let getting money out of savings be an easy decision.

Hope this helps you build an emergency savings, and perhaps beyond! It's also nice to have put back enough to live on for a month, or so on, just in case you lose your job. However, an emergency savings is a good place to start, and will help you build habits to save for other things. What are some ways you build your savings?

Happy Saving!