spending Archives : Living Success

7 Rays of Hope for the Unsatisfied Spender

Financial Empowerment, Financial Success

“Why do you spend money on what cannot nourish you and your wages on what does not satisfy you?” Isaiah 55:2 (GW)

The words written in Isaiah 55 are some of my treasured scriptures. As I was preparing for this blog post on emotional or excessive spending, Is. 55:2 first came to mind. Then while reading the Globe & Mail I came across an article that highlighted the devastating effects of spending excessively.

In Isaiah 55, God Himself addressed the exiles and it’s interesting that He should ask a money related question: “Why do you spend money on what cannot nourish you and your wages on what does not satisfy you?” Why did He ask? He wanted them to stop practicing the ways of Babylon and follow Him.

Hmmm, that’s food for thought. The same is true for Christians today. God does not want you and me to behave like and/or embrace the practices of the world even though we live in it. He wants you to live by His word and make Him your first priority. He doesn’t want you to worry about what you have or don’t have because He promises that what you need He will make sure you have (Matt. 6: 24-34).

But really, why do so many spend and yet remain unhappy? Why do some many think that they need “retail therapy” (as some like to call it)? Emotional and excessive spenders want to:

Fill an emotional void such as when a person experiences a breakdown in a relationship
Get away from the reality of life as some think that shopping is a great stress reliever. But wait until they receive the credit card statement.
Impress or try to impress others with what you have or supposedly can “afford” only to worry later about how and when they can payoff that debt

The problem with this way of spending is that there are always negative results. You can end up with:

Excessive debt and have difficulty making the repayments
Too much stuff and not enough time or energy to make use of it all and the heavy weight of trying to manage it
Strained or severed relationships with loved ones because your focus is on money and not enjoying the gift of family and friends
Little or no savings or investments because most of your money is going toward debt repayment and basis living expenses

This all sounds quite depressing and so it is. But I want to focus on that fact that there is hope and there is help for those who desire to change.

First of all, seek the Lord. Yes, come to Jesus. Spend time in the word of God (Isaiah 55: 3) to gain insight on how to manage your money. You can even read books to help. You can check out Financial Empowerment which gives both biblical and practical solution.
Please whatever you do, seriously and earnestly pray about your spending habits. Ask God to remove your desire to go off on spending sprees. Ask Him for help, strength and grace for the journey ahead to make sound financial decisions and to follow through on each of them.
Ask for forgiveness from God and from others you may have hurt on account of your actions. Forgiveness is the healing balm you need to move forward with your life in a positive way. Forgiveness will bring newness to your life – a fresh start for you and your loved ones (Luke 15:17-24).
Make a strong decision to reduce or eliminate the purchase of certain items for an extended period. For example, maybe for 6 month or a year you can choose not to buy clothes, electronics, home accessories, dine out, and so on. Basically, don’t buy anything you don’t need and have enough of.
In the midst of asking for forgiveness, ask a few people to support you. Make yourself accountable to a few trusted friends. And to the ones you often go shopping with, give them notice that your shopping spree days are over and you’ve started a new chapter in your life.
You may consider getting professional help – if you can afford to and you believe that the return or value would far outweigh the investment. You can hire a money coach or debt counselor. This is totally up to you.
Set a goal. Determine when and how you will pay off your debt. Have a plan that you see and work towards daily. With your new no-excess-spending policy, you can funnel more money into debt repayment and savings.

This may seem like a lot to do but my friend, take one step at a time. It took time to form bad money habits. Therefore time will also be needed to break them – particularly the chain of consumerism that has many bonded up. So consider this, with God being your Help you have all you need including time to change your money habits and change your life.

I wish you success on the journey to a satisfying life.

Now, it’s your turn…

If you have conquered excessive spending and debt, share your victory with us. I would love to hear your story. Help give hope to someone today.

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Are You Eating Your Seed? PART II

Financial Empowerment, Financial Success

Eating your money

Sometimes we make hasty spending decisions that we later regret (see last week’s post). In the moment when we need to decide whether to buy or not, we forget how much effort and time (work) we put into earning the money we’re about to quickly blow away. We need to stop, think and make a quick assessment before we spend that cash or swipe that card (often the credit card) before we decide.

Do All the Planting First

This may sound weird but plant first, then eat or consume after. Most people as soon as they have money (salary or gift receipt or other income stream) think of how they can spend it. We need to reverse our thinking: How can we invest it? In my book, I recommend you start where I have always started – tithe i.e. give to God what is His, then do save and invest some it and pay your obligations including feeding yourself and your family. Then you spend a little on yourself. Shift your priority from spending (eating seed) to giving, saving and investing (planting seed for your future).

Question the Timing of Your Purchase

I know that there may be something on your wish list and you been thinking of having it for a long time; but is now the right time to buy it? Can you wait a little longer for a better price or save towards it if you really think it is worth having? Are there more immediate matters to consider or a bigger goal (like a buying house) that need priority?

Question the Value of Your Purchase

At times we don’t even give thought to the items – more clothes, the latest electronics, the dine-outs, etc. – that we want to buy. Stop yourself in your tracks. Do you really need to spend money in that area? Can you live without it or consider it at a later date?

Delay the Purchase, Even For a Little While

Don’t get me wrong. We are blessed with what we have for our enjoyment (2 Peter 1:3) but sometimes it is necessary to delay the gratification. Walking away from that store, and giving yourself 24 hours to think about it could be the best decision you make for that day. Often times you will not go back to buy the item because you’d realize that you don’t need it.

The Benefits of Not Eating Our Seed

Not eating your seed equates to my simple advice that was featured in The 2014 Woman’s Advantage Calendar, “Buy only what you need.” Doing this will save you not only money and help secure your financial future but you will have peace of mind. You will avoid the unnecessary stress of paying the extra amount on your credit card.

If you did not pay with your credit card, you’ll avoid having limited cash available in your account because of that unplanned purchase. Your cash resources would be “freed up” and available to invest in opportunities that are of interest to you – personal development or educational course, money for a long sought-after and much-needed vacation, investment into a new business venture and a new career path.

As in my case, I spent money that I could be used for more promotion and advertising to get the message out about Financial Empowerment. When you and I spend where we shouldn’t we are negatively impacting our future. We are reducing our spending power and our ability to take care for ourselves and family in the years ahead. But if we use our money well, we would have enough for:

Our current needs – food, housing, clothing, education
The unexpected event – medical care, car repairs, household big-ticket purchases
The future – life insurance, health insurance, retirement fund and other investment that would give us the ability to take care of ourselves and to leave an inheritance for future generations

So when we eat our seed we are not like wise farmers. We are destroying our future. Like a farmer, we plant our seed (work) and the harvest (income) comes, we should eat (consume) some of it, store away (save) a part and then we should sell (generate income) or replant (invest) the rest. Why? If we eat all our seed (our money) we would have nothing left for our future needs. Some when you plant the seed and have received a return, consider carefully what you will do with it. You can 1) consume by spending and borrowing; 2) sell or invest to generate more income; 3) invest in others by giving or lending or 3) save to keep for short-term and long-term needs.

It is a disservice to ourselves when we eat our seed that God provided. We don’t experience the joy of giving, the return on investing, and the rest in knowing that there is something set aside to aid in the future. Like the P31 woman, we should be smiling at our future (Proverbs 31:25) because we have used our seed well to take care of the present and beyond.

Since God is the One who gives the seed and the food, we should try to plant and nurture it since He is able to increase it (2 Cor. 9:10; Is. 55:10). Use your seed well.

Living Success Minute: This week, make a list of what you do with your money. What did you spend it on? Was it worth it? Was it necessary or just a buy on the whim? How can you make better money choices next time? Take note of your answers as you make a conscious decision to use your money well.

Are You Eating Your Seed? PART II Read More »

Are You Eating Your Seed? Part I

1 Comment / Financial Empowerment, Financial Success

Eating your money

Recently after making a purchase the Holy Spirit confronted me about it? Why? I had just left home pondering over making a small but reasonable purchase in advertising that would help me spread the word about Financial Empowerment: Realign Your Finances to God’s Will. I even had the option of taking a trial period but didn’t. What did I do instead? I spent money (more than the cost of the advertising) without hesitation on something else. I convinced myself that it was good because I was celebrating a special event but at the same time it was short-lived.

I realized how easy it is to make frivolous or unplanned purchases. Those type of purchases that have no lasting value and eat away at your future. I noticed how hesitant I can be at times when it comes to investing in my future via savings, business or career building. Do you experience that sometimes? I guess what the Apostle Paul said even applies how we manage money – what we should do we don’t and what we shouldn’t do we do. Thankfully by the time I reached home, I decided to make the investment in promoting my book and trust God that it would help reach those who need it.

I think that we can all identify with making these types of unplanned purchases. It’s an ongoing battle to keep focused on our goals. The problem with these out-of-order purchases is the negative impact on our future. It’s like a farmer eating all his seed. That wouldn’t be right now, would it? But what really is your seed? To the farmer the seed has potential to do be (1) food and (2) income generation and reinvestment. So to us, the seed is money.

For us, the seed (money) carries the same potential. Whatever money we have can be divided into (1) food and consumables for our daily living and (2) investment for our future.

Generally, most of our money tends to go towards food or bread. But do you understand what bread is?

Bread is a by-product of the seed. It is derived from the seed
Bread is for instant gratification or enjoyment
It’s a consumable item to be used now or within a short period. If not used within a specified time it becomes of no use or value to the consumer. e.g. Bread spoils within a few days; other foods if not consumed after a specified period are not safe for consumption; electronics or cars or other items loose value with use or deteriorate or become obsolete
It has no long term future benefit

In summary, bread has a now benefit not a future one.

On the other hand, the seed also have another benefit if treated differently. If it is planted instead of consumed, then the gains can be far-reaching. For the farmer, a planted seed means future profit or income. What we give, save or invest is the seed we are planting for our future. When we plant our money it grows, increases in value or amount, brings a return to you or benefits you.

What you give grows. Giving doesn’t seem to have an initial benefit but it gives much needed blessings to the giver. The kind of blessings money cannot buy.

Bring all the tithes (the whole tenth of your income) into the storehouse, that there may be food in My house, and prove Me now by it, says the Lord of hosts, if I will not open the windows of heaven for you and pour you out a blessing, that there shall not be room enough to receive it. –Malachi 3:10

Give, and [gifts] will be given to you; good measure, pressed down, shaken together, and running over, will they pour into [the pouch formed by] the bosom [of your robe and used as a bag]. For with the measure you deal out [with the measure you use when you confer benefits on others], it will be measured back to you. –Luke 6:38

What you invest grows. Investing can provide streams of income that is expected or unexpected.

His master said to him, Well done, you upright (honorable, admirable) and faithful servant! You have been faithful and trustworthy over a little; I will put you in charge of much. Enter into and share the joy (the delight, the blessedness) which your master enjoys. –Matthew 25:21

Then you should have invested my money with the bankers, and at my coming I would have received what was my own with interest. –Matthew 25:27

If you give, save, invest the seed it will benefit your life. If you eat all the seed, it is consumed and gone forever and not able to provide any future benefit. You and I have a choice.

The Lord also pointed out why we so easily eat our seed, that is, waste your financial future:

(1) Fear of the unknown. In my case, I wasn’t sure of the outcome of my investment in advertising. I would pay now but would have to wait to see the results of doing this type of business – if I would gain any exposure at all, if it would convert into sales and other connections. However, with frivolous purchases the thought about our financial future often does not come until after the purchase as been made!

(2) The strong urge for instant gratification. When we buy and consume something we wanted (clothing, food, electronics, etc) we receive an immediate tangible item in exchange for our money. Although these things are short-lived, the pull for instant gratification is what compels us to spend. Unfortunately the feeling quickly dies along with the item we purchased.

This is a situation most of us find ourselves in. We are trying to balance the financial scales which often topple over to the spending side. Even though we have dreams or goals that require an initial outlay of our time, money and efforts we often spend for instant gratification or temporal gain rather than for delayed satisfaction and a better future.

Not only did the Lord bring this to light from a personal perspective but spiritually as it relates to building the kingdom of God. You see, looking at my scenario, the investment in advertising was not just about selling books but about (1) sharing the message of the good news (2) helping people in the body of Christ move from financial struggle to success and (3) encouraging others to serve God wholeheartedly with their money.

Not making such an investing in the kingdom of God displeases the Lord and negatively impacts the work of the gospel. Often times the toss-up between spending on ourselves and making an investment in our future and in God’s kingdom result in our seed being eaten. Why? We want to please ourselves more and think we are deserving of or entitled to whatever we want.

But there is a danger in this. How can we avoid eating up our seed? Next week’s post will explore this.

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