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SeedTime Money (Christian Personal Finance)

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Why You Need a Financial Fast

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Why you Need a Financial FastThe Bible talks about fasting in both the New and Old Testaments.

We read about Nehemiah fasting and praying for the children of Israel because they were in a time of trouble.

Daniel fasted and prayed for three weeks drawing nearer to God.

David fasted and prayed in a time of personal repentance.

Paul and Barnabas fasted and prayed before presenting leaders in the church.

There’s a close relationship between fasting and praying because fasting is a time for you to draw nearer to God.  Spending time with God in prayer allows us to hear from him and discern things that may be troubling us.

Jesus spent 40 days in the desert fasting and praying before going into ministry because he knew that it was important.

How much more should we follow his example and fast the things that demand so much of our attention?

What’s a Financial Fast?

The Bible doesn’t limit fasting only to food and drinks. Anything that can be given up temporarily so that we can focus our full attention on God can be viewed as a fast.

Paul references how a husband and wife might abstain from being together for a time (yes, sexually) so they can devote themselves to prayer. So while the Bible doesn’t have a section devoted to a ‘Financial Fast,’ I think the principles can be applied to our finances.

There isn’t a lot of specific material to guide Christians in a financial fast, which is why I wanted to cover it here. Financial fasting isn’t meant to be easy or unintentional – it involves denying yourself so that you can refocus your reliance on Christ.

How to Fast with Your Finances

In holding to the principles of fasting that we see in the Bible, I think we can fast financially by practicing the following:

1. Identify necessities and luxuries.

If you already have a budget, this may be a little easier for you to do. Take some time to really focus your expenses on the things that you have to pay for – items like your house payment, term life insurance, food, etc. If you can go without it (be honest with yourself – eating out, iTunes music, going to the movies, etc) list it as a luxury and do your best to go without purchasing it during your financial fast.

The financial fast is not meant to keep you from enjoying the things you already own. It’s a practice in contentment and reliance on God to be our provider.

2. Resist the temptation to purchase luxuries.

This is the difficult part of the financial fast. It’s so easy to justify small (and sometimes large) purchases for convenience sake or because we feel that we deserve it. Yes, I’m talking about the afternoon trip to the vending machine, the morning Starbucks, and the $1 Redbox movie. The point of a financial fast is to help us to use our money with purpose and to avoid irrational purchases that only inflate our standard of living. It’s challenging and you will notice the sacrifices – which is the point of the financial fast.

3. Focus on contentment, thankfulness, and giving.

While you’re making these financial sacrifices, take a moment to reflect on all that God has blessed you with and learn to be content with what you have. Don’t be tempted to complain about what you can’t buy during the financial fast. Instead, be thankful for all the things you do have.

You may start to see a few extra dollars because of the drop in your spending habits. This is a great thing and should be used as a way to cultivate a spirit of giving. Use the extra funds to bless a ministry in your church, help a friend in need, provide for a family that needs support, or any way that you feel God leading you to give.

4. Grow in prayer.

Throughout your financial fast, prayer should be at the cornerstone of all your decisions. Yes, as Christians we should engage with God as much as possible – but fasting should involve a focused time of prayer to seek God’s will and His direction in your life.

If there was one verse to guide your financial fast, I think it would be this:

Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.” So we say with confidence, “The Lord is my helper; I will not be afraid. What can mere mortals do to me?” Hebrews 13:5-6 NIV

A financial fast is your declaration of freedom from money and acknowledgment of your dependence on God. Whether you practice a financial fast for three days or three weeks, I think it can help you grow spiritually and further your desire to give freely.

Have you ever considered a financial fast? Do you think it would be beneficial? Leave a comment!

15 Fundamental Truths of Personal Finance

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fundamental truths of personal finance

It’s best to set in stone some core financial principles sooner rather than later. Here are some fundamental truths you should always keep in mind.

1. You should pay God first.

Where your treasure is, there your heart will be also (Matthew 6:21). It’s important to understand that money shouldn’t be the sole reason behind why we work each day. Our hope doesn’t lie in the dollar, euro, or gold; it’s founded in Christ.

Personal finance is no different. When we acknowledge our dependence on Christ, we can start to see how faithful God really is. This is why giving is so important. We give so that others might hear the Gospel and find the same hope that we have.

2. You should pay yourself second.

You may have heard of the 10-10-80 principle: Pay God 10%, pay yourself 10%, and pay the bills with 80%. For some, that may seem impossible in your current financial situation.

There’s no magic way to suddenly change your financial picture so that you can use 80% of your income to pay bills and give/save the other 20%. The reality is that it’s easiest when you implement this practice early and make it a priority.

But regardless of your current situation, ask God to help you get there and He will.

3. Roth IRAs are awesome.

Saving for your retirement years doesn’t need to be complicated. Putting money aside in a Roth IRA can mean huge tax savings for you in the future.

Remember, the contributions you make into a Roth IRA have already been taxed, so both the earnings and principal within the IRA will be distributed tax-free.

4. Take the match!

If you aren’t taking advantage of your employer’s 401(k) match, you’re leaving free money on the table. You cannot afford to NOT take the match, so always be sure to contribute as much to a 401(k) or 403(b) that will qualify you for any company match.

5. Build an emergency fund.

Having 3-6 months of expenses in an emergency fund is an excellent goal for someone who has already created a baby emergency fund of $1,000. If you have to tap into your emergency fund, make it a habit to refill the emergency fund as soon as possible!

6. Make a budget that works for you.

It will take a little time to work and rework your budget. In fact, I often find that it takes about 3 months of adjusting before you will get it right.  Be patient.  It is a challenge at first, but once you get it dialed in, it really helps!

7. Spend less than you make.

Sounds too simple, but it’s true. It goes hand in hand with creating a budget and should be a no-brainer. Unfortunately, credit card debt is still a problem in America today, which tells me that we’re living on borrowed money.

8. Eliminate debt with fury.

The borrower is slave to the lender. Do all that you can to pay down debt as fast as you can. Put every spare dollar towards debt and you’ll soon realize the freedom that comes with being debt free.

9. Invest wisely.

Don’t invest in something that you don’t understand. And work to stay diversified with your investments (i.e. don’t invest all your money in a single stock). If you are thinking of the investment as a get-rich-quick scheme, you should avoid it and think long-term instead.

10. Use insurance properly.

Whether you’re looking for car insurance or finding rates for term life insurance, be sure that you don’t compromise your coverage for the monthly premium. Also, it’s always wise to do your research before signing the contract with an insurance company as there are often many caveats and fine print that can be overlooked if you aren’t careful.

11. An investment should increase in value.

Unfortunately, I’ve heard people say that cars, clothes, and electronics are to be called investments. Unless you’re buying a very rare car or a collectible, these items are simply expenses. A real investment will increase in value and provide a return for your investment.

12. Side income is achievable.

You can make money with your passion. With a little creativity and a lot of persistence, there’s no reason why you shouldn’t have opportunities to make as little as $50 each month to $500 or more by doing what you love on the side. (also check out these legit home based business ideas)

13. Keep impulsive behavior out of your purchases.

This can be a challenge, especially with the holidays coming soon.

One of the best pieces of advice that I’ve ever heard regarding impulse spending was to create a 30-day rule. Before you buy something on impulse, make it a point to wait 30 days before you buy. If you’re still passionate about buying it, give it some serious thought. If you’re over it, you’ve just successfully saved yourself some money!

14. Enjoy your money.

There’s a careful balance that you need to keep as you become better at managing your personal finances. If you don’t leave room for enjoyment, you’ll soon become a slave to your budget and feel overwhelmed and trapped by it.

Make it a point to have a little fun money each month and reward yourself (within reason) for a job well done.

15. Generosity is contagious.

All our resources are from God and we can use our finances to spread the Gospel.

Outside of giving to your church or to missions, you can practice generosity in the smallest of areas. Sometimes small things like paying for a friend’s coffee, buying lunch for someone, or buying some school supplies for a teacher in need can speak volumes!

Below is a recent video we did about how to be more generous – check it out!

What are some other fundamental truths of personal finance you’d like to share? Leave a comment!

5 Christmas Shopping Mistakes to Avoid

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Before you rush to the store or add something to your cart online, now’s the perfect time to think about some of the biggest mistakes that you should avoid this season. Whether you’ve already completed your shopping, or still have a lot to do, these five mistakes could make for a blue Christmas if you’re not careful.Christmas is around the corner, and with Black Friday behind us you might need to up your game if you’re not done with your list.

But before you rush to the store or add something to your cart online, now’s the perfect time to think about some of the biggest mistakes that you should avoid this season.  Maybe think about making some homemade Christmas gifts this year.

Whether you’ve already completed your shopping, or still have a lot of gifts to buy, these five mistakes could make for a blue Christmas if you’re not careful.

1. Going into debt for a good deal.

I’m fully aware that WalMart is practically giving away flat screen TVs, but a good deal doesn’t justify going into debt.  Financing a TV through a credit card can really add up, so your best bet is to make sure you have the money for it first.

Don’t get me wrong, I enjoy using credit cards for the perks but I’d only recommend doing this if you can pay off the balance at the end of the month.  Keep debt out from under the tree this year.

2. Ignoring the budget.

I hope you’ve set your Christmas budget and follow it this year.  We usually keep our budget on Mint.com because it’s easy, but sometimes it’s just nice to see it on paper.

One sure way to stick to the budget is to use cash and to put each person’s gift money into an envelope.  Yes, it takes a little longer, but if you’re strapped for cash as it is, this will keep you from pulling out the credit card to pay for it throughout the year – a mistake we know to avoid!

For those who feel like Christmas sneaks up each year, try automating a Christmas budget.  Many small banks and credit unions still have Christmas savings accounts that draw a few dollars from your checking account automatically.

It’s worth checking into so that you’re better prepared for next year!  You can even invest your savings through the year by using Betterment to automate your investment.

3.  Getting the warranty.

I have mixed feelings about warranties, but most of the time I choose not to get the warranty.  Most electronics and high dollar items will already have a manufacturer’s warranty, so if breaks, you’re already covered.

Signing up for extra warranties on your computer, TV or printer may sound wise, but think through it before you commit to an extra $49 warranty at the register.

We purchased a TV one year and passed on the warranty.  When we brought it home, it didn’t work.  Talk about disappointment!  We didn’t need a warranty to exchange it to for a new TV because it was covered under the manufacturer’s warranty.

If you’re afraid your kids will break something expensive or if you’re generally clumsy, purchasing a warranty might give you peace of mind and could pay off for you.

The chance of you using the warranty is less than you would expect – but the fear of being ‘the one’ to need it often drives people to purchase expensive.  Do your research and don’t let fear drive you to buy a warranty at the register.  Often times you can add a warranty later when you’ve done some research.

4. Not understanding return policies.

You’re probably aware of most return policies, but is your gift recipient aware of their options for returning a gift?  Make sure you get a gift receipt and tell the person to return the item promptly if they want to exchange it.

Holiday Policies at WalMart

WalMart generally allows you to return an item 90 days after you’ve purchased it, but has 15 day and 30 day rules for certain purchases (including: electronics, video games, lawn equipment, power tools).

If you buy an item with a 15 or 30-day return window, WalMart is extending the start date of the return clock to begin on December 26, giving the recipient adequate time to return an item.

5. Defaulting to a gift card.

Sometimes a gift card is nice, especially since you can buy what you want.  But the downside to giving a gift card is that you might be passing up some great deals that the recipient wouldn’t get after the holidays.

There are two sides to this dilemma because after-Christmas sales can mean great deals for someone with a gift card, but just make sure that the gift card is to a place they’ll enjoy shopping at.

But before you spend face value for that gift card, make sure you check out sites to find discounted gift cards.

What are your thoughts about these mistakes?  How do you plan on avoiding them this Christmas?

Fun & Easy Way To Memorize Bible Verses (Step-By-Step)

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When it comes to memorizing verses, the psalmist put it best:

I have hidden your word in my heart that I might not sin against you. – Psalm 119:11 NIV

How you can easily memorize bible verses - easy! That’s just one of hundreds of Bible verses that many children memorize in Sunday school. This one has stuck with me throughout the years along with many others.

Take a Bible Quiz!

In my high school years, I gave up sports for a different activity – Bible Quiz. For those who have never heard of Bible Quiz, it’s an activity in the AG churches that brings together youth to quiz them on different books of the Bible each year. 

Yes, it sounds dorky, but we ended up memorizing over 2,000 verses that sharpened our minds and strengthened our faith!

You heard right, over 2,000 verses. My first year was the book of Luke (1151 verses), next was I & II Corinthians (693 verses), Gospel of John (879 verses), Hebrews and I&II Peter (469 verses).

It was quite a challenge to not only memorize bible verses, but entire chapters of the Bible, and it would take quite a while. But when you could simply quote entire passages of the Bible, it was an awesome feeling!

Every day after school from 4:00-6:00 I would sit down and try to memorize a few new verses. My method took a while, but the verses stuck. I’d spend about 20 minutes per verse and move onto the next one, adding about 6 new verses a day. The next day, I’d review what I did the day or two before and I’d always try to quote through everything on the weekend to make sure I was ready for the quiz matches.

How I Memorize Bible Verses:

Realize that I would spend 1-2 hours a day – it was what I did instead of playing sports, so it took a lot of dedication, just like any sport’s practice would.

Pre-Game Memorization

1. Highlight Names and Underline Places

Before I’d even start studying a block of scripture, I would read through it and highlight names in yellow and underline places in orange. This technique will help you to visually remember passages better and will act like a ‘roadmap’ when you think back to the page of scripture.

2. Highlight Old Testament Quotes in Green

Did you realize that the New Testament is full of quotes from the Old Testament? Authors like Paul were extremely well-versed in the Old Testament and would use these verses to emphasize the Gospel of Christ. It’s worth highlighting these as additional points of reference.

Memorization is very visual! If you spend time memorizing a passage of scripture, you’ll literally close your eyes and envision the page in your mind. So highlighting can really help you to memorize more effectively!

3. Read the Entire Passage of Scripture

Read through the chapter and get an understanding of what’s going on.

My Memorization Process

Not everyone memorizes things the same, but if you’re curious to know how I was able to memorize 500 verses a year, this is it:

  1. Work on one verse at a time – not multiple verses.
  2. Read the verse aloud 20 times – don’t rush through this part.
  3. Read the verse aloud once, then speak the verse once from memory (10 times).
  4. Quote the verse without mistakes 5 times in a row. Once you can do this, move to the next verse.

Sometimes going through the process would take 15 minutes per verse, other times it would be about 20 minutes per verse. It’s not about spending a certain number of minutes – it’s about repetition and using your eyes, ears, and voice to get each verse down.

Are You Up for the Challenge?

Even if you could only spend 1 hour a day memorizing scripture, you could easily memorize 3-4 verses a day. That’s over 20 verses in one week – about an entire chapter in many books of the Bible. Imagine being able to quote an entire chapter after just one week of studying.

Trust me, it’s possible!

When was the last time you memorized a verse in the Bible? Here are a couple chapters to consider for your challenge: Hebrews 1, Luke 6, and 1 Corinthians 13.

7 Ways to Control Your Spending

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Ways to Control Your SpendingSpending must be a conscious activity

What do I mean by that?

Have you ever said the following at the end of the week or month: “Where on earth did my money go?”  I know that I’ve said that!

The idea behind conscious spending is to break the habit of spending whenever you ‘feel’ like it.

Emotions have just as much of a role in spending as knowledge does, so getting the emotional side under control will help you put your knowledge to use!

BUT…building self-discipline can be tough, especially when we’re talking about finances.

If you’re trying to control your spending or looking for ways to help you know where your cash is going, explore a few of these ideas to help you to get your budget under control.

1Envelopes

You’ve heard of this route before, but may not see its usefulness.  If you’re having trouble with overspending in certain areas, try using envelopes for a trial period with certain categories.

For example, your cell phone payment may be automated…no envelope needed.  Your grocery bill may fluctuate more than you’d like it to – so set out an envelope.

The same can be done for eating out or entertainment.  You don’t need a lot of categories to be successful with envelopes, start small and you’ll see how effective it can be!

2Gift Cards Only

This is similar to the envelope system, but an alternative to carrying cash.  If you want to set a limit on gas, groceries, or entertainment, you can use a gift card to control your spending.

It takes a little more involvement, but you can prepay your gas, groceries (if you buy them at a place with gift cards, like WalMart) or entertainment like a movie store.

I’d rather do cash only, but it’s an idea for people who like plastic.  Just be careful that you don’t get stuck with any unnecessary fees.

3Limit Trips To The Store

Creating a shopping schedule for groceries, or personal items can help control your spending.  Plan out the days you absolutely need to shop and avoid the ‘pick it up after work’ routine.  That’s a sure-fire way to forget how much you’re spending on things.

4Write Down Every Purchase

If the small things are breaking your budget, try carrying around a mini notebook and writing down each item you’re purchasing.  Coffee here, snack machine there, or whatever it may be – write it down!

It’ll feel like a hassle (good!) and hopefully slow you down to really consider what you’re spending money on.

5Automate The Savings

If you don’t see it, you’re less likely to miss it.  Try paying the savings account each month like you would do with a bill.

How you do it will be up to you.  Many online banks will set up automated transfers each month.  If you cash your checks, put a portion in a jar or envelope marked as savings.

The point is to get into the habit of living on less so that you have room to breathe in your budget.

6Find A Money Buddy

Setting goals with a friend can make saving money easier, especially if you like a challenge.  If you really need accountability (and trust the other person), have a bi-weekly or monthly comparison of expenses.

If you don’t want anyone to see your actual expenses, keep it focused on the amount saved. Challenge each other to increase your savings month after month – it’ll naturally cause you to shape up your spending.

7Make a 30 Day Rule

The ultimate discipline for controlling your cash is the ability to say NO, and to let a period of time go by before you commit to the purchase.

This works best with big ticket items like a computer, TV, car, hobby items, or home décor.  The main idea is to kick that impulsive buying habit we can all fall prey to.

What ways have you found to be helpful in controlling your cash flow?

What’s Your Financial Personality?

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PersonalityEver notice how finances can affect you emotionally? I’ve known people who hate the idea of spending their money altogether and some people who don’t know how to make a budget at all.

What if there was a scale that you could use to classify your financial personality?

Yes, I can see it now. Instead of making up a boring answer when your financial planner asks how things are going, you can simply select your personality from the chart and they’ll know exactly what to do to help.

Unrealistic? Maybe so, but you might relate to a few of these:

The Spending Freeze

You’re the type of person who tries to avoid spending at all costs. You like to watch your savings grow and the thought of spending $7 on lunch makes you cringe. Your excuse when asked to go to lunch? “Sorry, we’re on a spending freeze this month.” Works every time.

The Tight Wad

Are prices the first thing you look at on the menu at a restaurant? Will you wait five minutes to cross the busiest intersection in town just to save $0.03 on a gallon of gas? You might be a tight wad. No, it’s not always bad thing, but your friends might call you names.

The Penny Pincher

You have a book of coupons and you’re not afraid to use it. Does the idea of saving $0.50 on a tube of toothpaste keep you up at night? Do you want to scream when you realize that a coupon for Kraft Macaroni and Cheese expired? It’s ok, go ahead and say it: My name is [insert name] and I’m a penny pincher.

The Envelope Guy

You’ve listened to one too many episodes of Dave Ramsey and you keep your budget envelopes in your fireproof safe. Sure, your family thinks you’re weird, but you’ll have the last laugh at Christmas when you re-gift your copy of The Total Money Makeover.

The Unsure Spender

Budgets just aren’t your thing and you kind of like winging it every month. You think you have a good memory on what you spent in groceries last week, but you’re just not sure. “It’ll all work out in the end” is your mantra.

The Credit Card King

“I do it for the points.”

Sure you do. What your friends really don’t know is that you buy too much stuff and don’t have the cash to cover it. You call yourself the credit king, when really you’re more like a jester.

The Nonchalant Swiper

Debit or credit? It doesn’t matter to you. As long as there’s plastic of some sort, you’ll be swiping it. The last time you used cash was to pay the late fee on your overdue VHS in 1994. Besides, you can get 15% off if you sign up for the store rewards. Booyah.

The Big Spender

If it’s not the biggest, newest, most expensive model, you don’t even want to consider it. The very thought of having anything but the ‘best’ is downright insulting. Forget about layaway, put it on the VISA.

If you had to select from these personalities, which would you pick? Don’t see one that fits you? Create your own and share it in the comments!

Subsidized vs. Unsubsidized Student Loans

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StudentAs educational costs continue to rise, many students find themselves borrowing money using student loans in order to come up with the cash they need to pay for expenses. These loans can be used to pay for college tuition, room and board, fees, books, and other necessary items.

When borrowing money for college, students have two different types of federal student loans that they can access: subsidized and unsubsidized. What are the differences between these two types of loans? Which type of loan is more attractive for students?

Subsidized and Unsubsidized Loans: How to Qualify

In order to qualify for federal student loans, students have to fill out a Free Application for Federal Student Aid or FAFSA. This document asks for specific financial information about the student and his parents. Once this application has been submitted, the government will be able to determine the student’s need for financial aid.

Students who have a significant financial need may be able to qualify for subsidized student loans. Those who do not have a financial need – as determined by the government – will not be able to qualify for subsidized loans. Instead, they can typically qualify for unsubsidized student loans.

Subsidized vs. Unsubsidized Loans: What’s the Difference?

When a student qualifies for a subsidized student loan, the interest rate will be a bit lower on these types of loans in most cases. For example, back during the 2011-2012 school year, the interest rate for subsidized student loans was 3.4 percent while the rate for unsubsidized student loans was 6.8 percent. These rates are changed by the government every year.

In addition to getting a cheaper interest rate some years, those who qualify for subsidized student loans can also get help paying some of their interest. While students are in school, they do not have to start making payments on their student loans. They can choose to defer the interest until after they get out of college or they can choose to make interest payments only while attending class. Those with subsidized student loans can choose to have the government pay their interest charges for them while they are in school.

Students who receive unsubsidized loans do not have the option of getting their interest paid for them. Instead, they can avoid making payments while in school by deferring the interest and adding on to the principal balance of the loan. This can really add up quickly over time and result in a much higher student loan debt at the end of their college education.

Minimizing Interest on Unsubsidized Loans

Those who qualify for unsubsidized student loans may be tempted to defer interest payments while they are in school. The problem with this is that after interest has been added onto the principal balance, more interest is charged on that new amount during the next period. This turns into a debt snowball over time and causes the loan to grow fast.

Instead of deferring the interest payments, it is usually better to pay the interest as it accrues. This way, the interest charges will be minimized overall. This has the potential to save you quite a bit of money on student loan debt.

Loan Limits: Subsidized vs. Unsubsidized Loans

Another key difference between these two types of loans is the loan limit for each. Both subsidized and unsubsidized loans come with a particular loan limit. This means that students can only borrow up to a certain amount with each type of loan. This means that students have to be aware of how much they are borrowing, and how much they can qualify for with each type of loan program.

One of the attractive things about these types of loans is that they can be combined to help pay for a student’s school. For example, if an individual qualifies for subsidized student loans, they can borrow the maximum amount of money allowed for the year. Then if they still need to borrow more money for school, they can use money from unsubsidized student loans up to the legal limit as well. This makes it easier for those who need to borrow large sums of money with these loan programs.

Students who can qualify for subsidized student loans should take full advantage of them before venturing into unsubsidized loan territory. Both of them can provide financial assistance, but subsidized loans are obviously more attractive.

Were you helped by subsidized loans in college? Any tips on paying the loans off? Leave a comment!

Faith and Giving Lessons from C.S. Lewis

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BookIn his book, Mere Christianity, C.S. Lewis explains an aspect of the Christian faith by comparing it to receiving and giving a gift. The first ‘discovery of faith’ as Lewis puts it, is to understand that there is no way that we can earn our way to God. There’s no exam that we need to take or pass with a certain percentage. It’s simply a gift that we can choose to accept or reject. We know this from scripture:

For it is by grace you have been saved, through faith—and this is not from yourselves, it is the gift of God—not by works, so that no one can boast. – Ephesians 2:8-9 NIV

The second discovery that C.S. Lewis points out is that when you accept the gift of salvation, there is a realization that “every faculty you have, your power of thinking or of moving your limbs from moment to moment, is given you by God.”

Even if we were to spend every waking minute of our life devoted to serving God, we couldn’t possibly give Him anything that wasn’t already His own already. I like how C.S. Lewis explains this point with a brief story:

Mere ChristianitySo that when we talk of a man doing anything for God or giving anything to God, I will tell you what it is really like. It is like a small child going to its father and saying, ‘Daddy, give me sixpence to buy you a birthday present.’ Of course, the father does, and he is pleased with the child’s present. It is all very nice and proper, but only an idiot would think that the father is sixpence to the good on the transaction.

There is no way that we can ever give God more than he’s given to us.

For from him and through him and for him are all things. To him be the glory forever! Amen. – Romans 11:36 NIV

That’s the beauty of grace. We haven’t earned anything, yet God has blessed us with all that we have. If we really want to be challenged in our giving, we should strive to imitate Christ’s generosity. There’s no grading scale or minimum score here. Giving like Christ is something that is ongoing and isn’t measured by a certain dollar amount or hours.

Cultivating a Giving Lifestyle

So how do we even begin to live a more generous life? Three keys come to mind that can help us with the initial steps of integrating giving into our lives.

1Recognize the Source

Sometimes, it’s easy to forget that all things come from God. When we constantly remind ourselves to give thanks and acknowledge where our resources come from, we can start to grasp the concept of a generous lifestyle. Recognizing the source of our resources will naturally cultivate a thankful heart and can lead us to giving more than we could ever imagine.

2Understand the Purpose Behind Your Gift

If you’re already giving to your church, missions, or other causes, you probably have an understanding of the purpose behind your gift.  Knowing why your gift makes a difference can help to spur ongoing generosity.

3Catch the Vision and Plan for the Gift

If you’re passionate about the mission behind your gift, you’re more likely to continue supporting it with your resources. If your vision is to see missionaries share the gospel in third world countries, your gift to those groups will become more of a priority in your life. Actively setting aside money each month (budgeting for the gift) will help you to cultivate generosity.

In what ways have you been challenged to be more generous? How do you cultivate generosity in your own life? Leave a comment!