Torch, Spring/Summer 2009

Spring–Summer 2009 | TORCH 21 poverty overflowed in the wealth of their liberality.” Then, after first offering themselves to the Lord, the Macedonians pleaded with others to participate “in the support of the saints.” Needs will likely increase because of this global economic hardship. As we have the opportunity, we ought to be unselfishly helping others. This is a time when we can demonstrate our love for those made in God’s image and allow the Gospel to spread, not only through our words but also through our deeds. Spend Less Than You Earn This is always true, but particularly so in difficult financial times. Many of our current economic woes have been built on consumerism and overspending. Spending less than one earns requires intentionality. It will likely include a spending plan or budget. One of my students once called a spending plan “an answer sheet to your finances.” A budget answers questions such as “What income is available?” and “How much money can I spend in various categories?” A handy rule in making a budget is 10/10/80 — tithe 10 percent, save or invest 10 percent, and live on the remaining 80 percent. Creating a budget is a good and necessary step, but it’s not enough. You have to put it into practice. The individual or family should monitor actual results compared to the budget and then make choices based on that information, including changing spending priorities and habits. This might consist of reducing expenses such as restaurant visits, entertainment choices, and even decisions about housing. Multiple resources are available to help establish a budget. Organizations such as Crown Financial Ministries and those led by Dave Ramsey and Mary Hunt have experience assisting others in this area. The local church may be a resource VICKI REID / ISTOCKPHOTO