Since I was 20 years old I personally made over 40k a year. Nevertheless, because of my mismanagement of money I struggled to pay my basic bills including rent. I owned a broken down truck and I had no savings until I was 25 years old. It was not until I was getting ready for the next step in my life (marriage), that I finally put my foot down and got serious about controlling my finances. Below are my top 10 things I did to go from struggling to pay my bills too successfully being able to provide for my stay at home wife, a baby, generous giving, newer vehicle and a mortgage, all while making the same money!
1. Admit I had a problem
The Bible says, ”You shall know the truth and the truth shall set you free". Most people don’t like admitting their faults. No one Wants to look weak and admit his or her mistakes. However, the only way to move forward is to realize your errors and seek help. The moment I humbled myself and recognized my errors, I was able to open my mind for changes that were the past due.
2. Applied biblical principles regarding tithing and generous giving
The Bible says that God owns all the gold and silver in the world. It also says that if God provides for the birds in the air then he will definitely provide for you! The Bible says if you seek to honor God, that he will honor you. Therefore, when I learned to give to the ministry on regular bases, God began to bless my mind and taught me how to control my money. Did you know that the Bible talks more about finances than Salvation?
3. Check accounts every day
There is something very sobering about looking at your bank account and seeing exactly how much you have in your account. This process helps you remember that you don’t spend what you don’t have.
4. Before I purchase something i ask if i want it or need it
Most people justify needing something. "each of my children need a cell phone (new)”, some parents say. "I need my pop, cigarettes, alcohol, junk food, expensive vacations and so on; these are not things you need just want. Needs are the thing like food (healthy), used cloth, toiletries, utility bills and so on.
5. Pray and earnestly ask God to give me a heart of appreciation.
The Bible says, "If any lack wisdom, ask the Lord who gives abundantly , wisdom cries out in the streets” read proverbs, ”looking for someone to listen.” When we can appreciate the little stuff, we live happier, not needing to buy things to make us feel happy.
6. I began to pay bills before they were due
This lesson is pure strategy. If I have less money to spend at the beginning of the month then I can spend less also. Delayed gratification is key.
7. Avoid being cheap and greedy
Plan ahead to be generous. The Bible says it is better to give than to receive. Once you start giving to worthy causes, you will feel better! Try it!
8. When I controlled most of my money I began to heavily invest in my retirement and my children’s future.
No one is guaranteed the future. What happens to you when you are old or God forbid you are X out. Protecting your children is your responsibility. Wise men/ women plan for the future.
9. l celebrated the little victories to keep me motivated.
Motivation is key to a successful plan. To keep the engine moving, you need to keep adding fuel!
10. l figure out NOT to give my children everything I didn’t have. Consumption in moderation is key.
Have you ever heard of spoil brats that do not know how to appreciate what they have? Teach them while they are young, the value of hard work and money.