Tag: honoring-God-with-money

Stewarding Well: Exercising Self-Control in Spending and Giving

The final fruit of the Spirit is self-control. When we hear that term, our minds often go straight to resisting temptation — avoiding that extra dessert, holding our tongue in a heated moment, or passing up an impulse purchase.

But self-control runs much deeper than momentary restraint. It’s about aligning our actions with godly wisdom and long-term values. In the financial realm, self-control not only guards against overspending but also ensures our generosity is Spirit-led rather than emotionally driven.

It might surprise you that even our giving requires self-control. While the world often celebrates extravagant generosity, the Bible reminds us that not all giving honors God. Some people find themselves in financial trouble, not because they’ve overspent on themselves, but because they’ve given beyond their means — motivated by guilt, pride, or the desire for approval.

True self-control helps us navigate both sides of the financial equation: when to say “no” to unnecessary spending and when to give thoughtfully, as the Holy Spirit leads.

The Dangers of Unchecked Spending and Impulsive Giving

The Bible is filled with warnings about the consequences of poor financial management:

“The rich rule over the poor, and the borrower is slave to the lender.”
Proverbs 22:7

“He who loves pleasure will be a poor man; he who loves wine and oil will not be rich.”
Proverbs 21:17

Whether it’s overspending on pleasures or giving to impress others, a lack of self-control leads to debt, stress, and missed opportunities to use our resources wisely.

Jesus cautioned against performing acts of charity for the wrong reasons:
“Take heed that you do not do your charitable deeds before men, to be seen by them. Otherwise, you have no reward from your Father in heaven.”
Matthew 6:1

Generosity should never be a tool to seek validation or soothe a guilty conscience. Spirit-led giving, balanced with financial stewardship, honors God and builds peace in our lives.

Cultivating Financial Self-Control

So how do we grow in self-control? It starts with intentional, Spirit-led living. Self-control is not self-generated discipline alone; it’s a fruit of the Spirit cultivated through prayer, wisdom, and surrender to God’s guidance.

Paul highlights this quality as essential for believers:
“For the grace of God… teaches us to say ‘No’ to ungodliness and worldly passions, and to live self-controlled, upright and godly lives in this present age.”
Titus 2:11–12

And Peter reminds us to actively pursue it:
“For this very reason, make every effort to add to your faith goodness; and to goodness, knowledge; and to knowledge, self-control…”
2 Peter 1:5–6

Here are some practical, biblical steps to develop financial self-control:

  1. Ask God to transform your perspective on money.
    “I can do all things through Christ who strengthens me.” (Philippians 4:13)
  2. Seek wisdom to establish a spending and giving plan.
    “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault.” (James 1:5)
  3. Let the Holy Spirit direct your charitable giving beyond your tithe.
    “You are to receive the offering for me from everyone whose heart prompts them to give.” (Exodus 25:2)
  4. Pause before making unplanned financial decisions. Ask yourself:
    • Why do I want to spend or give this money?
      • Am I meeting a true need or reacting impulsively?
      • What adjustments will I need to make if I use this money now?
      • Is this Spirit-led or emotionally driven?

If the decision aligns with wisdom and biblical stewardship, adjust your budget accordingly, ensuring you’re not sacrificing long-term stability for a temporary impulse.

The Reward of Self-Control

As you consistently practice self-control in both spending and giving, it will become easier and more natural. The reward isn’t deprivation — it’s peace of mind, financial freedom, and the joy of being a faithful steward of God’s resources.

Self-control guards us against debt, stress, and the temptation to find our identity in material things or the approval of others. And it positions us to give generously in ways that truly honor God.

May we ask the Lord daily to help us exercise self-control, trusting Him to meet our needs and lead us in wise, Spirit-directed generosity.

Discussion Questions:

  1. In what areas of your finances do you find it hardest to practice self-control? How can you invite God into those decisions?
  2. Have you ever struggled with giving impulsively or for the wrong reasons? How can you better discern when and how to give?
  3. What practical steps can you take this week to grow in self-control regarding your spending, saving, or giving habits?
  4. Think of a time when practicing financial self-control brought you peace or helped someone else. How did it impact your relationship with God or others?
  5. How might growing in self-control influence other areas of your life, such as your relationships, time management, or health habits?

Financial Help with a Gentle Heart: Extending Mercy in Money Matters

The eighth fruit of the Spirit is gentleness. When I think of gentleness, I picture a mother lovingly cradling her baby in her arms. She carefully supports her infant’s head, providing the nourishment and love the child needs. Paul describes this in his first letter to the Thessalonians: “We were gentle among you, just as a nursing mother cherishes her own children” (1 Thessalonians 2:7).

It’s natural to be gentle with an infant or an elderly person who is frail and in need of assistance. But it’s not always easy to be gentle when you’re bailing someone out of trouble or when they’ve wronged you.

  • How do you respond to the person who has failed to repay the money they borrowed from you?
  • How do you react to the person who just caused significant damage to your vehicle?
  • How do you assist a relative who has gotten himself into a financial mess—again?

Hopefully, you respond with gentleness and the love of Christ.

True gentleness can be defined as “treating others as you want to be treated; showing mercy and forgiveness without judgment.” In terms of money, gentleness can be applied to helping someone in need in a way that maintains their dignity and self-esteem. This means offering financial assistance without judgment. If I am showing gentleness, I cannot berate someone for their financial difficulties. In fact, gentleness may even require me to forgive the debt they owe me, just as Christ forgave my much larger debt.

Gentleness in Helping Others

If the Lord has provided for your needs, He expects you to help others: “But whoever has this world’s goods, and sees his brother in need, and shuts up his heart from him, how does the love of God abide in him?” (1 John 3:17).

It’s easy to feel compassion and gently help someone who has faced financial setbacks due to illness, an accident, a job layoff, or a national economic downturn. But it can be more difficult to extend compassion to someone who has mismanaged their money, lived beyond their means, or made reckless investments in hopes of getting rich quickly. You might even feel that their difficulties are the result of sin and find yourself reluctant to help. However, gentleness compels us to help others without making them feel ashamed. Galatians 6:1 reminds us, “If someone is caught in a sin, you who live by the Spirit should restore that person gently.”

If you struggle with gentleness, remember that fortunes can change quickly. Today, you might be in a position to give, but tomorrow, you might need help yourself: “Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle” (Proverbs 23:5).

Offering Assistance with Gentleness

Seek God’s direction before offering help: “But the wisdom that is from above is first pure, then peaceable, gentle, willing to yield, full of mercy and good fruits, without partiality and without hypocrisy” (James 3:17).

Consider how you would want to be approached for assistance and follow the Golden Rule: “Do to others as you would have them do to you” (Luke 6:31).

Offer assistance discreetly and with humility: “Be careful not to practice your righteousness in front of others to be seen by them. If you do, you will have no reward from your Father in heaven. So, when you give to the needy, do not announce it with trumpets, as the hypocrites do in the synagogues and on the streets, to be honored by others. Truly I tell you, they have received their reward in full. But when you give to the needy, do not let your left hand know what your right hand is doing” (Matthew 6:1–3).

Offer help not to seek praise from others, but as an opportunity to share the gospel: “Nor did we seek glory from men, either from you or from others, when we might have made demands as apostles of Christ. But we were gentle among you, just as a nursing mother cherishes her own children. So, affectionately longing for you, we were well pleased to impart to you not only the gospel of God, but also our own lives, because you had become dear to us” (1 Thessalonians 2:6–8).

Practical Ways to Assist Someone Financially with Gentleness

  • Pay a bill anonymously.
  • Send a check with a note that says, “The Lord instructed me to give this to you.”
  • Drop off a bag of groceries or a gift card to a grocery store.
  • Pay attention to their needs and purchase specific items to meet those needs.
  • Offer them an opportunity to do paid work for you, such as:
    • Yard work
    • Home repairs and maintenance
    • Errands and/or shopping
    • Housecleaning
    • Temporary work at your business (e.g., seasonal sales or extra labor for large jobs)
  • Contract work for your business (e.g., website design, bookkeeping, marketing, or janitorial services)

Conclusion:

Gentleness is more than just a soft-spoken demeanor; it is an intentional choice to treat others with dignity, compassion, and humility, especially when it comes to our financial dealings. Whether helping someone in need, forgiving a debt, or practicing patience in difficult financial situations, gentleness reflects Christ’s love and grace in practical ways. As we cultivate this fruit of the Spirit, we not only honor God, but we also create an environment of peace, trust, and healing in our relationships with others.

Ask God to open your eyes to those in need around you and pray for wisdom to meet those needs, as led by the Holy Spirit, with gentleness and a heart that reflects His love. Let gentleness guide you in your financial decisions and interactions, and watch how it transforms not only your heart but the lives of those around you. May we continue to be faithful stewards of the resources God has entrusted to us, using gentleness as a reflection of His love in all things.

Discussion Questions:

  1. How can you apply gentleness when helping someone with a financial need, especially if their situation is a result of poor financial decisions? How can you balance compassion and wisdom in such situations?
  2. What are some ways gentleness can influence how you manage your own finances? For example, how might gentleness affect your approach to budgeting, saving, or giving?
  3. In what areas of your life do you struggle to show gentleness in your financial interactions, whether it’s forgiving a debt, giving to others, or paying your bills on time? How can you ask God for help in those areas?
  4. Think about a time when you needed financial help or guidance. How did the gentleness or lack thereof from others impact your relationship with them? How can you practice gentleness in your own financial dealings to build trust and understanding?

Comparing Your Financial Ratios to Industry Standards

Business woman studying her business's financial ratios

Knowing your financial ratios is critical to managing your small business successfully. If you are applying for a business loan, the lender will want to see that your net operating income is more than sufficient to cover your loan payments. In fact, most lenders expect net operating income to be approximately three times the required loan payment. This standard holds true across the industry.

However, other ratios can vary greatly depending on the type of business you have. For example, inventory turnover should be much faster in a restaurant or grocery store compared to a retail clothing or appliance store. Grocery stores often have low profit margins per item but sell a large volume of products, while appliance stores sell fewer items but need a higher margin per sale to stay profitable.

Fortunately, there are several sources of standard industry data that can help you assess how your business compares to industry averages. These resources include:

  • IBISWorld: Offers comprehensive industry analysis, financial statistics, and industry trends. It’s a fee-based service, but you may be able to access it for free through a university or public library. Many Small Business Development Centers (SBDCs) use these reports in client consultations.
  • ReadyRatios: This financial software allows business owners to input their financial statements and automatically calculate key financial ratios. It also compares your business’s performance to industry benchmarks. ReadyRatios offers both free and fee-based versions depending on your needs.
  • Statista: A platform providing a wide range of data, including industry-standard ratios, market trends, and consumer behavior. It also has both free and premium options.

Other sources include:

  • Trade Associations
  • U.S. Census Bureau
  • Bureau of Labor Statistics
  • Market Research Firms

Key Ratios to Compare

There are several important financial ratios you can use to assess your business’s performance. Here are a few to consider:

Revenue Growth

If your industry is experiencing strong revenue growth but your business is lagging behind, it’s important to investigate why. Ask yourself:

  • Are new competitors eating into your market share?
  • Have you cut back on marketing and advertising?
  • Are you failing to provide an exceptional customer experience?

Profit Margin

Before starting your business, you should research the industry’s standard profit margin and compare it to your projected margins. If you’re projecting a profit margin much higher than industry standards, you’ll want to carefully review your assumptions about costs and operating expenses. If your business is already running and your profit margin is too low, consider:

  • Are your costs rising faster than you’re able to increase prices?
  • Are you failing to collect receivables in a timely manner?
  • Have revenues fallen below the point where they can cover fixed costs?
  • Has the quality of your product declined, leading to returns and waste?

Cost of Goods Sold (COGS)

The COGS ratio varies widely by industry, and yours should align with the industry’s average. If it’s not, investigate the following:

  • Are your prices too high, leading to reduced sales?
  • Is your markup too low, cutting into profits unnecessarily?
  • Are you offering deep discounts to move inventory, suggesting a misalignment with customer demand?
  • Are you over-ordering perishable items, resulting in waste?

Inventory Turnover Ratio

Your inventory turnover ratio indicates how quickly you’re selling and replacing inventory. If your ratio is higher than the industry average, it may indicate that you’re turning over inventory too quickly, which could lead to lost sales on high-demand items. On the other hand, a lower turnover ratio could mean that you’re ordering too much or the wrong items. Striking the right balance between inventory levels and demand is key to boosting sales and minimizing excess investment.

Interpreting Industry Benchmarks

These are just a few of the key financial ratios you can compare. It’s important to remember that deviating from the industry standard doesn’t necessarily indicate a problem, but it should prompt further investigation. You may find that your business is more efficient than average, or you may uncover areas for improvement that could help you optimize operations and boost profitability.

Conclusion: Understanding Your Ratios in Context

By comparing your financial ratios to industry standards, you can gain valuable insights into how your business is performing. Regularly reviewing these ratios will help you stay on track, identify potential issues early, and make informed decisions about the future of your business. Industry benchmarks serve as a useful tool, but remember that each business is unique, and your financial strategy should reflect your individual goals and circumstances.

If you need help analyzing your business’s financial ratios or understanding how they compare to industry standards, feel free to reach out. I’m here to help you navigate your financial strategy and grow your business confidently! You can email me @ susan.ball5@aol.com

Goodness and Money: How Practicing Goodness Can Transform Your Finances

Goodness is the next fruit of the Spirit. While it includes acts of kindness, goodness goes beyond that—it encompasses honesty, fairness, and always choosing to do the right thing.

We display goodness when we use our financial resources to demonstrate God’s goodness and direct others toward Him. To embody goodness, we must first acknowledge that only God is truly good, and that all goodness flows from Him.

God is Good, and He Provides for Us by His Goodness

God is inherently good, and He blesses His children with good things. Recognizing God’s goodness in our lives is key to understanding how we should use our finances. We must thank Him daily for His faithfulness. Psalm 34:8 reminds us:

“Oh, taste and see that the Lord is good; blessed is the man who trusts in Him!”

1 Chronicles 16:34 echoes this truth:

“Give thanks to the LORD, for He is good; His love endures forever.”

Psalm 107 starts with an invitation to give thanks for God’s goodness:

“Oh, give thanks to the Lord, for He is good! For His mercy endures forever.” (verse 1)

The chapter goes on to highlight how God demonstrates His goodness: He redeems us, protects us, provides for us, heals us, and lifts us out of distress. The psalmist concludes with the call to reflect on God’s loving deeds:

“Let the one who is wise heed these things and ponder the loving deeds of the Lord.” (Psalm 107:43)

Jeremiah 33:9 further illustrates how God’s provision is rooted in His goodness:

“Then it shall be to Me a name of joy, a praise, and an honor before all nations of the earth, who shall hear all the good that I do to them; they shall fear and tremble for all the goodness and all the prosperity that I provide for it.”

God Is Pleased When We Do Good

We honor God when we do good for others, especially by sharing the blessings He has given us. Hebrews 13:16 tells us:

“And do not forget to do good and to share with others, for with such sacrifices God is pleased.”

Demonstrating goodness points others to God’s love. 1 John 3:17-18 challenges us:

“But whoever has this world’s goods, and sees his brother in need, and shuts up his heart from him, how does the love of God abide in him? My little children, let us not love in word or tongue, but in deed and in truth.”

Loving in deed means that we share what God has entrusted to us, including our finances. Failing to do so, particularly when it comes to caring for those in need, is a missed opportunity to reflect God’s love. James 4:17 says:

“Anyone who knows the good he ought to do and doesn’t do it, sins.”

Proverbs 21:13 offers a stern warning:

“Whoever shuts their ears to the cry of the poor will also cry out and not be answered.”

Being Good Points Others to God

Jesus taught His followers in Matthew 5:16:

“Let your light so shine before men, that they may see your good works and glorify your Father in heaven.”

We let our light shine when we share our resources and show goodness to others. Paul also encouraged the Galatians to persist in doing good:

“Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up. Therefore, as we have opportunity, let us do good to all people, especially to those who belong to the family of believers.” (Galatians 6:9-10)

The harvest we reap by doing good will be souls added to God’s kingdom—a true treasure in Heaven.

Conclusion

God has been incredibly good to us, and He expects us to reflect His goodness by doing good for others, especially when it involves sharing our financial resources. By following God’s example, we can trust that He will meet all our needs.

Discussion Questions:

  1. Recognizing God’s Goodness:
    How have you experienced God’s goodness in your life recently? How does recognizing His goodness impact the way you manage your finances?
  2. The Role of Finances in Showing Goodness:
    In what ways can our financial decisions reflect God’s goodness to others? Can you think of a time when you were able to use your resources to bless someone else?
  3. Sharing and Generosity:
    1 John 3:17-18 challenges us to love in deed and truth. What are some practical ways we can demonstrate God’s love through our financial resources, particularly in times of need?
  4. The Connection Between Goodness and Obedience:
    James 4:17 tells us that failing to do the good we know we should do is a sin. How does this verse challenge you to reconsider your approach to generosity and caring for others?
  5. God’s Provision and Trusting Him:
    Jeremiah 33:9 speaks about God’s goodness leading to prosperity. How does trusting in God’s provision influence your decisions about managing money and sharing with others?
  6. Persevering in Doing Good:
    Galatians 6:9-10 encourages us to continue doing good, especially for those in the faith. How do you stay motivated to keep doing good when you feel weary or discouraged, especially when it comes to financial giving?
  7. A Life That Points Others to God:
    Matthew 5:16 says we should let our good works shine before others to glorify God. How can we intentionally use our finances to point others to Christ, both within and outside the church community?
  8. Reflecting on Personal Action:
    As you reflect on your current financial situation, how can you align your use of money more closely with God’s goodness? Is there a specific change or action God is calling you to make?

The Power of Kindness: Transforming Your Finances and Relationships

Kindness is the fifth fruit of the Spirit. A kind person is friendly, generous, and compassionate. The root word “kin” in kindness reminds us to treat others as family. As God’s people, we’re called to show kindness, especially by helping those less fortunate. Kindness can be as simple as offering a kind word or as significant as giving one’s resources, time, and energy to improve the situation of another.

True kindness eases others’ burdens and points them to Christ. As we grow closer to the Lord and allow the fruit of the Spirit to develop within us, the Holy Spirit empowers us to demonstrate kindness.

Kindness Cannot Co-Exist with Unforgiveness

Having the right attitude is essential when practicing kindness—particularly when it comes to sharing our financial resources. If we harbor animosity or unforgiveness in our hearts toward someone, it will be difficult to open our hearts (and our pocketbooks) to help them when the Holy Spirit nudges us to do so.

The Bible teaches us that in order to please God and cultivate kindness, we must rid our hearts of bitterness and unforgiveness. Ephesians 4:31-32 reminds us:
“Get rid of all bitterness, rage and anger, brawling and slander, along with every form of malice. Be kind and compassionate to one another, forgiving each other, just as in Christ God forgave you.”

Paul also emphasizes this in Colossians 3:12-13:

“Clothe yourselves with compassion, kindness, humility, gentleness and patience. Bear with each other and forgive whatever grievances you may have against one another. Forgive as the Lord forgave you.”

God Expects Us to Be Kind

In the Old Testament, God commanded His people to show kindness. He even withheld His favor when they failed to do so. In Isaiah, God expresses His displeasure when kindness is withheld, especially toward the poor and oppressed. Isaiah 58:6-7 states:

“Is not this the kind of fasting I have chosen: to loose the chains of injustice and untie the cords of the yoke, to set the oppressed free and break every yoke? Is it not to share your food with the hungry and to provide the poor wanderer with shelter—when you see the naked, to clothe them, and not to turn away from your own flesh and blood?”

Job also reminds us of the importance of kindness in relationships:
“Anyone who withholds kindness from a friend forsakes the fear of the Almighty” (Job 6:14).

Jesus taught that when we serve the least among us, we are serving Him (Matthew 25:31-46). The acts of kindness Jesus described involved sharing our possessions—food, water, clothing—with those in need. As God provides for us, He expects us to share those resources with others.

God Rewards Those Who Show Kindness

God blesses those who are kind and share their resources. Solomon wisely wrote, “A kind man benefits himself” (Proverbs 11:17), and “Whoever is kind to the poor lends to the Lord, and He will reward them for what they have done” (Proverbs 19:17).

When we are kind, we are building treasure in Heaven. This is especially true when we do so without making a spectacle of it. Jesus warned against doing good deeds for the sake of recognition, teaching His disciples:

“Take heed that you do not do your charitable deeds before men, to be seen by them. Otherwise, you have no reward from your Father in heaven. Therefore, when you do a charitable deed, do not sound a trumpet before you as the hypocrites do in the synagogues and in the streets, that they may have glory from men. Assuredly, I say to you, they have their reward. But when you do a charitable deed, do not let your left hand know what your right hand is doing” (Matthew 6:1-3).

When we show kindness to others, we honor God and demonstrate His love to those who are hurting. We should not show kindness to gain God’s favor or heavenly rewards, but when done in obedience to God’s commands and with the right attitude, God will reward our kindness.

A Reflective Question for Your Heart

As you reflect on your relationship with money and kindness, consider the following questions:

  • How has kindness played a role in your financial decisions?
  • Can you think of a time when showing kindness to someone changed their situation—or yours?

Take a moment to reflect and invite God to help you be more intentional with your kindness, especially in how you manage and share your resources. Remember, the kindest act you can do is to share the gospel of Jesus Christ, so that others can look forward to eternity in Heaven.

Patience: A Fruit of the Spirit that Transforms Our Financial Journey

Patience is the ability to wait for someone or something without becoming agitated or frustrated. It’s a calm, self-controlled attitude that isn’t instinctively present at birth but rather develops over time, especially through challenges and adversity. The apostle James teaches that patience grows in the midst of trials and hardships

James 1:2-4, says: “My brethren, count it all joy when you fall into various trials, knowing that the testing of your faith produces patience. But let patience have its perfect work, that you may be perfect (mature) and complete, lacking nothing.”

A patient person reaps many benefits: reduced stress, greater perseverance, improved problem-solving skills, and healthier relationships. In contrast, impatience often leads to restlessness, irritability, and rushed decisions without proper thought.

When it comes to finances, patience plays a crucial role in making wise financial decisions, avoiding costly mistakes, and preventing the burden of debt. Patience helps us delay gratification and trust God to meet our needs, while also teaching us to manage our money in a way that allows us to grow our savings over time and make big purchases without relying on debt.

Patience to Delay Gratification

It’s no secret that waiting for something you really want can be frustrating. Whether you’re saving for a special vacation, a new car, your first home, a new outfit, or the latest gadget, delaying that immediate gratification isn’t easy. However, the benefits of saving and waiting are substantial.

  • Avoiding Debt: By saving for an item instead of charging it, you avoid the stress of debt that can take months or even years to pay off, often with interest.
  • Increased Satisfaction: The anticipation of waiting often heightens your satisfaction when you finally make the purchase, and the joy of avoiding debt adds to that satisfaction.
  • Better Deals: Waiting gives you the time to research the best deals, potentially finding better prices or discovering a product that better meets your needs.

As Solomon wisely observed in Proverbs 22:7, “The rich rules over the poor, and the borrower is a servant to the lender.” Patience helps you avoid this type of financial bondage.

Patience to Accumulate Wealth Over Time

One of the best financial strategies is to start saving small amounts early, allowing your investments to grow over time. Consider this: If you begin saving $25 a month at age 25 into an annuity paying 3% interest, by the time you turn 65, your $12,000 investment will grow to $23,209. It’s not hard to save $25 a month—just skip one dinner or two lunches out each month, and you’ll be able to invest that money. If you increase it to $25 a week, your balance would grow to $100,547.

This principle is found in Proverbs 13:11, “Whoever gathers money little by little makes it grow.”

Trying to get rich quickly can often lead to risky, costly mistakes. Some people resort to gambling or high-risk investments that promise large returns. However, gambling can lead to addiction and financial ruin, and get-rich-quick schemes often end in loss. In fact, the Federal Trade Commission estimates that Americans lost more than $8 billion in 2023 to risky investments and scams, and nearly $117 billion was lost to gambling.

Patience to Wait on God

Patience is also about waiting on God’s timing. It’s about trusting that He will fulfill His promises, even when it seems like our prayers go unanswered. Patience allows us to stay faithful, even when we feel overwhelmed by financial difficulties. God has promised to meet all our needs, and He is faithful to His word.

In Philippians 4:19, Paul expressed his confidence that God would provide for the needs of the Philippians: “And my God shall supply all your need according to His riches in glory by Christ Jesus.” Despite the trials Paul faced, he had learned to be content, knowing that God would meet his every need. Patience and faithfulness during trials helped Paul grow in his trust in God’s provision.

When we wait on God, we develop patience and maturity, learning that God’s timing is perfect. Even when waiting feels difficult, remember that the trials we endure can build perseverance, and perseverance leads to maturity in our faith.

A Reflective Question for Your Heart

As you reflect on your relationship with money, consider the following:

  1. Have you made financial decisions in the past that might have turned out better if you had been more patient?
  2. Can you recall instances where God rewarded your patience with a better outcome than you expected?

Take a moment to think about these questions, and feel free to share your thoughts in the comments. Let this be an opportunity to invite God’s peace and patience into your financial journey.

How LOVE Shapes Our Financial Choices

Love is a word we use frequently, but often in different ways. We say “I love that!” when we talk about food, clothing, or even our favorite vacation spots. While these may reflect strong preferences, they’re far from the deeper, more self-sacrificial love we’re called to show our family, friends, and ultimately, God.

In his paper The Fruit of the Spirit: Love, James Hernando defines love as a relationship term within the context of redemption. He writes, “Love…defines our relationship to ourselves, to God, to our neighbor, and to the members of God’s body.” God’s love is self-giving, intimate, and requires personal involvement. It’s the kind of love that drives us to share our resources—especially our finances—to meet the needs of others.

Love and Giving: A Call to Action in Christian Finances

We demonstrate love in tangible ways when we open our pocketbooks and share the financial blessings God has given us. The Bible is clear about this. In the Old Testament, God commands the Israelites to care for the poor: “For the poor will never cease from the land; therefore, I command you, saying, ‘You shall open your hand wide to your brother, to your poor and your needy, in your land.’” (Deuteronomy 15:11) Similarly, in the New Testament, John reminds us that the love of God isn’t just a feeling; it’s actionable: “But whoever has this world’s goods, and sees his brother in need, and shuts up his heart from him, how does the love of God abide in him?” (1 John 3:17)

You might be thinking, “I work hard for my money. Why should I sacrifice my earnings for others?” The answer lies in understanding the depth of God’s love for you. He loved you so much that He gave His only Son to die for you. Jesus’s love was sacrificial—it cost Him everything. Our love should reflect that same generosity, both spiritually and financially, as we strive to honor God with our money.

Intimacy in Love: A Heart Connection in Financial Stewardship

God’s love is intimate. Hernando writes, “Intimacy involves close personal interaction resulting in commitment, emotional bonding, and mutual care and concern.” Jesus modeled this intimacy with His disciples—He spent time getting to know them, understanding their needs, and responding with love.

As we grow in love, our relationships deepen, and we naturally start to care for others, not just emotionally, but practically, including financially. This was evident as the early church met daily to pray, fellowship, share meals and meet one another’s needs. “Now all who believed were together and had all things in common, and sold their possessions and goods, and divided them among all, as anyone had need.” (Acts 2:44-45) Christian stewardship means being generous with our resources to help those around us.

Avoiding the Love of Money: A Biblical Warning

As we mature in the Fruit of the Spirit, we become less attached to money and more devoted to loving God and others. Jesus warned that it’s impossible to serve both God and money: “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” (Matthew 6:24, NIV)

The love of money can harm our relationship with God and create all kinds of problems. “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.” (1 Timothy 6:10) Money, when idolized, becomes a barrier to a relationship with God and others. It can even destroy relationships, as people prioritize wealth over love and well-being.

Loving money leads people away from God and into many types of sin.  “For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy.” 2 Timothy 3:2 The sins depicted in this verse are attitudes that destroy relationships with God, family members, and friends.  As these attitudes take root in a person’s heart, he or she may go to great extremes to get more money. For some this involves sacrificing their families and relationships to seek promotions and raises in order to earn larger salaries and achieve more status.  Others violate the law to gain more money.  Stealing, fraud, tax evasion, identity theft, and robbery are just a few of the ways that greedy people try to gain more money.  No matter how much money they obtain—either through hard work and ingenuity or through theft and crime—lovers of money will never be satisfied.

Despite what culture tells us, money can never fulfill our spiritual and emotional needs. “He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity.” (Ecclesiastes 5:10-11, ESV) Biblical stewardship teaches us that contentment comes not from accumulating wealth, but from trusting God to provide all we need.

Loving Others: A Practical Application of Financial Stewardship

Romans 12 offers practical instructions for loving others, many of which tie directly into how we handle money. Take your Bible or open your Bible app and look up Romans 12:9-15 & 20-21. Discover how some of the instructions apply directly to our use of money:

  • Entertain strangers
  • Demonstrate hospitality
  • Feed and give drink to our enemies
  • Provide for the needy

These actions often require us to spend our resources—time, energy, and yes, money. Christian hospitality doesn’t have to be extravagant, but it does require sacrifice. We are called to share freely, not to impress others, but to genuinely care for their needs.

As you grow in your relationship with God, your heart for others will deepen. Be attentive to the Holy Spirit’s promptings, and seek opportunities to love others with your finances, just as Christ loves you. In doing so, we demonstrate biblical generosity and honor God with the resources He has entrusted to us.

Final Thoughts on Stewardship and Love

As we reflect on how love impacts our finances, we are reminded that it’s not about the amount we give, but the heart behind it. True love—God’s love—compels us to be generous, sacrificial, and intimate in our care for others. Let that love guide your financial choices today, and trust that God will bless your generosity.

Itemizing Deductions vs. Standard Deduction

When doing your taxes this year, it’s essential to ask yourself whether you should itemize deductions or take the standard deduction. The standard deduction has significantly increased over the past few years, resulting in fewer taxpayers benefiting from itemizing.

If your deductions exceed the standard deduction, you will reduce your tax burden by itemizing. On the other hand, itemizing is a time-consuming process that you may only want to go through if you know it is to your advantage.

For 2023, the standard deduction is:

  • Single taxpayer:  $13,850
  • Head of Household:  $20,800
  • Married filing jointly:  $27,700

If you are 65 or older or blind, your standard deduction is increased by $1,850 for a single taxpayer or head of household and $1,500 per qualifying spouse for married filing jointly.

Questions to Ask Yourself

You can make a quick assessment as to whether it is worth your time and effort to deal with itemizing deductions by asking yourself these five questions:

  1. Did I spend a significant portion of my income on medical bills and prescriptions in 2023?
  2. Do I own a home with a mortgage?
  3. Do I live in an area with high income and property taxes?
  4. Do I give a large amount of money to tax-exempt charities?
  5. Have I experienced any uninsured losses from theft, natural disasters, or other casualty?

If the answer to two or more of these questions is Yes, then it is worth your time to do a quick calculation to estimate your deductible expenses. Your most significant deductions and the easiest to determine are (1) your mortgage interest, (2) your property taxes, and (3) regular charitable donations.  

Add these values. If the sum approaches your standard deduction, totaling all your deductions is most likely worth the effort. Otherwise, you are done, and you should take the standard deduction.

Itemizing Your Deductions

Medical Expenses: Multiply your adjusted gross income by 7.5%. You can only deduct medical expenses over this amount. If you think your medical expenses exceed this value, you will want to total all deductible expenses. Keep in mind that you can only deduct your out-of-pocket costs. Eligible expenses include:

  • Health insurance, dental insurance, and long-term disability insurance premiums
  • Doctor visits and prescriptions
  • Medical tests, lab work, surgeries, and procedures
  • Hospitalization costs
  • Cost of eyeglasses, contact lenses, braces, dental appliances, crutches, wheelchairs, and guide dogs
  • Mileage for trips to the doctor’s office, hospitals, and pharmacies.

State and Local Taxes:

  • State income taxes paid. This includes taxes withheld from your paycheck and/or estimated taxes you paid in 2023. If your state does not have a state income tax or you elect not to deduct your state tax withheld, you can deduct state sales tax. This can be done using actual calculations of sales tax paid or by using the optional sales tax tables.
  • Real estate taxes paid. Include only real estate taxes you paid on property you own that was not used for business. Typically, this is your primary residence, but it can only include taxes on a vacation or second home.
  • Personal property taxes paid. These taxes are typically paid on cars, boats, motorcycles, and campers. You can only deduct the portion of taxes based on the value of the items.

Interest Paid: You can deduct mortgage interest and points on your primary home or second home.

  • These costs can be associated with a first or second mortgage, refinanced mortgage, or home equity loan.
  • For this purpose, your home can be a house, condominium, cooperative, mobile home, boat, or other property that provides sleeping space, toilet, and cooking facilities.
  • Generally speaking, the loan proceeds must have been used to purchase, build, or substantially improve your home.
  • Investment interest paid on money borrowed to purchase an investment property may also be deductible.

Gifts to Charity

Donations made to qualified charities can be cash, property, or out-of-pocket expenses for volunteer work done for the charity. Expenses include mileage, tolls, and parking fees incurred while volunteering.

  • Deduct the value of any benefit you received from your donation.
  • If you gave more than $250 to any one charity, you need a receipt from the charity to verify your gift.

Loss from Casualty or Theft

  • You must complete Form 4684 for each loss.
  • You may deduct only losses that were not recovered by insurance.
  • If you have a qualified loss and you have decided against itemizing, you may be able to claim the loss by increasing your standard deduction.

Please note that this list of deductions is not comprehensive; it only covers the most common deductions. If you decide to itemize, you will want to review IRS Schedule A thoroughly for other possible deductions or discuss with your tax preparer.

Check back next week for options for filing your taxes for free.

Are You Stressed about Your Finances?

Many Americans ended 2023 feeling more stressed about their finances than they did at the beginning of the year. Perhaps you are one of them.

According to a survey conducted in mid-December by Allianz Life Insurance Company, Americans cited concerns about rising interest rates, lingering inflation, and debt repayment such as student loans. They listed as their primary financial resolutions for 2024:

  • Creating an emergency fund
  • Paying down credit card debt
  • Increasing deposits to their retirement account

Many Americans reported receiving pay raises in 2023 that did not keep up with inflation. To combat the increased costs of living, one-fourth of all Americans took second jobs or sought other ways to bring in additional income. At the same time, one-third reported cutting their spending to keep financially afloat. For many people, cutting back on spending meant dining out less and doing more meal planning.

Tightening one’s budget and reducing dining out are appropriate responses to financial stress. Seeking additional sources of income is also an appropriate response. The resolutions listed above will not be an option for people in these situations. You can only create an emergency fund, pay down debt, and save for retirement if you can live below your means. If you are in the minority of Americans who feel you ended 2023 in a better financial situation than you began the year, you should prioritize these resolutions. However, if you feel stressed financially, you must take constructive steps to improve your situation.

Your first step should be to examine all your expenses to see what cuts you can make. Reduce all your costs as much as possible without compromising your family’s health and well-being.  Here are some ideas to consider:

  1. Cut gym memberships. Many gym memberships go unused. Even if you use your gym membership, you may want to take a break from it until your budget balances. 
  2. Examine subscriptions, including magazines, tv channels, streaming services, music subscriptions, and personal improvement programs. If they do not truly add value, permanently eliminate them. Otherwise, cut them off temporarily and re-evaluate when your finances improve.
  3. Reduce dining out. You can save significant money if you eat at home and pack lunches for school or work. Planning menus and shopping with a list are the best ways to discourage eating out for convenience. Many social media accounts walk you through plans and menus to help you organize. 
  4. Buy store brands rather than name brands. You may find that you prefer some store brands and stick with them.
  5. Put a moratorium on buying anything new unless it is essential. If you make a purchase, research the best deal and consider purchasing the item second-hand.
  6. Sell unneeded clothing and other items. Many apps allow you to dispose of unneeded items and get immediate cash.
  7. Eliminate unnecessary insurance coverages. Review your insurance policies to ensure you are not paying for coverages that no longer apply to your situation.
  8. Avoid paying others to do tasks that you can do yourself. Can you mow your lawn yourself? Can you drop off your garbage at a convenience site rather than paying for trash pickup? 
  9. Lower utilities bills. Reduce your electric bill by turning off lights in rooms you are not in and adjusting your thermostat so the heat or AC is not running as much. Cut your water bill by taking shorter showers and only running the dishwasher when it is full. Open curtains in the winter to warm up your space and close them in the summer to cool off your house.
  10. Reduce communication bills. Cell phones and the internet consume a significant portion of most families’ budgets. Examine your plans and determine if you are paying for more time and speed than you need. If you work from home and need higher service levels to do your job, ask your boss to cover some of those expenses.

Your second step is to find ways to increase your income. For many, this has meant taking on a second job or joining the gig economy. I know several people delivering groceries, meals, or products to make ends meet. Many opportunities are available through companies such as DoorDash, UberEats, Instacart, and Amazon Flex, allowing you to earn a bit of extra money in your free time.

Whatever steps you take to help put your family in a better financial position, remember that you need to create a budget, and everyone in your family needs to have input into developing your budget. Also, be sure to go to God with your problems. Ask God to help you make wise financial decisions to provide for your family. God cares for you and wants you to take care of your family. Jesus illustrated God’s care for you in the Sermon on the Mount. “Therefore, I say to you, do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? Which of you by worrying can add one cubit to his stature?’ Matthew 6: 25 – 27 

If you have other suggestions for reducing expenses, please share them in the comment section.

Please read my other blog posts for more ways to manage your money and reduce stress. My book, Honoring God with Your Money, is another valuable resource to help you manage your money.

Learning From Your Financial Struggles

Financial struggles are a reality for most people. You can learn from these challenging times whether the problem is something you created or from an external source like an employer who laid you off or an extended hospital stay. Perhaps you invested in an opportunity that seemed to be sound but failed. Whatever the cause of your struggles, it is easy to blame yourself and feel that God is punishing you. What feels like punishment, however, may be God bringing you through a situation to draw you closer to Him.

Recently, I met with a client who shared that his passion for helping people facing food insecurities arose from a time when his finances were tight. The tenderness in his heart directly resulted from his own struggle with money. God saw him through that period and has blessed him, so now he can be a blessing to others. You can turn your personal struggles into a way to bless others. 

If you are going through financial challenges, remember that they will not last forever. You may feel like you are in a pit you will never escape. Try asking God what He wants to show you through this struggle. Remember, many of us have walked through lean financial times. 

Let’s look at what we can learn from financial challenges. 

Ask For Help from God: Learn to depend more fully on God. God cares about every aspect of your life. He wants us to rely on Him entirely. He might even use your financial challenges to remind us that He is all we need. The Lord cares for you and will take care of you. Start by asking Him for what you need. “Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. 8 For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened.”  Matthew 7:7-8

Open Your Heart: Like the client I mentioned above, God uses your time of struggle to open your eyes to the needs of others. If you have experienced homelessness, God may call you to minister to the homeless. If you have been out of work for a time, God may call you to start a business and create jobs. God uses our experiences to give us the insights needed to help others currently in those situations.

Accept The Challenge: Realize that you may be able to live on much less than you had previously thought. Financial challenges force us to make changes to our budgets and lifestyles. You may need to cut premium television channels or not dine out to make ends meet. Rise to the challenge, and you will emerge stronger and able to live comfortably with fewer amenities than before.

Change Your Focus: If your financial challenges mean you must dine out less, embrace cooking at home with your spouse and children. If you must cut back on television and streaming services, pull out a deck of cards or board games and spend quality time with those you love. If your clothing budget has shrunk, make a game out of going to thrift stores to find gently used clothing items that you need. Financial struggles can reawaken your spirit to what is important and give you a better quality of life.

Search For Free: Learn to appreciate “free” activities and quality time with family. Many activities in life do not cost money that you may have overlooked when you had more discretionary spending. Check to see if your community offers free concerts in the park or movie nights; visit state and national historic sites; take bike rides around your neighborhood; attend VBS and other free activities put on by local churches; or spend an afternoon geocaching.  

Receive Humbly: Humble yourself and accept help from others. No matter where you live, you should have access to a local food pantry that will provide food to help you during your down times. Local churches often distribute food at accessible locations throughout your community. Additionally, your local utility may have a program to help those struggling; our utility encourages its customers to donate a few dollars a month to help those in need. If you are struggling to pay rent, you may be able to get help from your church. James 4:10 says, “Humble yourself before the Lord, and He will lift you up.”  God often uses others to meet our needs, but we must make our needs known.

Generate Gratitude: Develop an increased level of gratitude for all that you have and God has done for you. Financial struggles are not enjoyable. Yet, for most of us, they are short-lived. And even in our darkest times, we have much more than people in other countries. Try to focus on what you can afford rather than on what you do not have now.

If you are facing a financial struggle right now, please pray, ask God for help, and let others know of your need. If God is blesses you financially in this season, ask Him how you can bless others. Take a few minutes this week to reflect on what you have learned during past times of struggle. Thank God for His care for you, and consider how you can be His hands extended to others in need