Money and the Bible | Personal Finances From the Perspective of GodExemplo

TIME, SELF-CONTROL AND DEBTS

One of the most important items about money is to understand that everything has a set time. The concept of sowing and harvesting requires waiting, whether at the time of land preparation, planting, irrigation, growth, or harvesting the fruits. We live in an accelerated world, a "microwave generation," which no longer values the habit of waiting. It is essential to understand that waiting time is not wasted time - some things just take time.

A study conducted by Stanford University entitled the "Marshmallow Experiment" had as one of its purposes, to understand the consequences of waiting. In the study, children were offered the choice between a marshmallow delivered immediately or two marshmallows if they waited until the researcher's return. The researchers found that children who could wait longer for the reward tended to have better success in life, better school performance, and a lower body mass index. This demonstrates the need to practice self-control, a characteristic of the fruit of the spirit, in our lives.

The act of controlling and mastering our impulses and emotions allows us to have a different posture in the face of debt. This fruit of the spirit is an expression of the nature and character of Christ. When it comes to buying or consuming, we can control our desire of the soul and body, and make financial decisions aligned with God's will; spending wisely and at the same time not failing to live in the present.

The Bible discourages the use of debt, but we have to understand that debt means failure to fulfill a duty. If you make a one-time installment purchase three times, you create a duty to pay the lender in three installments; however, this will only become debt if you fail to fulfill your duty. To understand this concept, some steps are essential; such as learning to spend less than you earn, not defaulting, paying bills on time, and avoiding a tight budget.

When we have debt, it is vital to face the situation. We often have a "lizard" within our finances, and that would easily be solved. Still, by not confronting the problem, we let it become an "alligator." Seek out the lender, negotiate, cut expenses, seek alternative income sources. If necessary, change your standard of living and make a payment plan; eliminate small debts; and prolong deadlines. Always prioritize those debts of higher interest. Walk with transparency and sincerity, align expectations, and do not destroy personal bonds.

In short, avoid debt and do not mold yourself to the world's standard about consumption. Unfortunately, we see people buying things they don't need, with money they don't have, to impress those they don't even like or know. We need to establish a new model. The pattern established by Jesus involves the practice of self-mastery in our consumption.

APPLICATION

Do you have any debt? If so, make a payment plan to get rid of it. When making purchases, one of the ways you have your own domain is to see if you're in doubt; if so, don't buy it. Another way is to ask three questions before making the purchase: Do I want to buy? Can I buy it? Do I need to buy it? If the answer isn't yes to all of these, move on.