In life, you will need to make many decisions regarding your finances. Whether it is to purchase a home, determine how much to save, or create a monthly budget, you’ll need to seek God’s direction. And while you may not know which road to take, you should know God has the best wisdom to make the right financial decisions.
Even before you set out to make Godly decisions, there is one place you should consider starting, and that is through tithing. God promises us when we tithe, He will open the windows of heavens for us and pour out a blessing for which we don’t have room enough to receive (Malachi 3:9-12).
Secondly, we must be good financial stewards of what He has provided us. How can you seek more from God when you’re not responsible for the smaller blessings He has already given you?
So whether it is your time, resources, or money, God wants to know how you will handle a little before He blesses you with much (Luke 16:10)!
5 Key Steps To Make Godly Financial Decisions
There are five key steps I believe can help you make better financial decisions. I like to refer to them as the BADGE. Generally, a badge is defined as a means of identification. It allows people to know what or whom you represent. Let’s look at each part of the B-A-D-G-E!
1. Budget
It would help if you started by building a budget.
While some may cringe at the word budget, it’s a simple guide to help you direct your spending. It lets you know if you can afford to eat out several times a week or need to cut back for some time. It gives you confidence and a game plan for your money.
You can create a budget by listing your expected monthly income and expenses. You should determine which expenses to cut back if your income exceeds your expenses.
Find ways to reduce your discretionary expenses, which are nonessential to your household. For example, cell phones, entertainment, or dining out are considered discretionary expenses.
It would help if you also track your expenses throughout the month. If you have any money left over (surplus), you should direct that money to reducing debt or increasing your savings or investments.
If you need help creating a budget, consider using my BADGE book. It’s a great tool to use.
2. Ask God To Grow Your Assets
Who do you turn to when you have to make a financial decision? Do you turn to social media, friends, or family? Or do you ask God for wisdom so that you can grow your finances?
God tells us that if we lack understanding, we can ask Him. He promises us when we ask that He provide us with Godly wisdom. Let me be clear: it is wise to seek financial professionals to help grow your assets, but you should first seek God’s wisdom.
You should request of God the following concerning your finances:
- God, help me create long-lasting assets from my daily income.
- God, help me build my assets to bless me and others.
- God, help me make the right decisions concerning my business, investments, real estate, and other financial choices to obtain assets that would further your kingdom.
3. Declare and Decree Your Debts are Cancelled
If you want to change your financial situation, your words must align with what you want God to do.
You can’t speak lack and expect to have enough. You can’t say statements such as, “I am always broke,” or “If it ain’t one thing, it is another.” God tells us in Romans 4:17 to call those things which are not as though they were!
So what are you speaking about concerning your finances? You should declare the following statements:
- I have more than enough financially.
- My debts and loans are canceled and dissolved.
- My savings, investments, business, properties, and income are blessed and growing in leaps and bounds.
And while declaring is an excellent start, ensure you’re doing the work. Remember, faith without works is simply dead on arrival! Begin today to make wise financial decisions, put a plan together, and get to work so that you will grow where you want to be.
4. Goal Setting
What’s your financial vision? Where do you see yourself in 3, 5, or even ten years? You have to write your vision and keep it somewhere you can see it daily.
The Lord says where there is no vision; the people shall perish. You have to have an idea of where you want to go financially.
Once you determine your vision, create short and long-term goals. Your goals should serve as benchmarks to help you make your financial vision. Here is an example to help you create your financial vision and goals.
Let’s say, for example, you would like to pay off $30,000 in debt in one year. Your financial vision would be to become debt free. Your goals could be as follows:
- Obtain a part-time job to earn an additional $2,500 per month
- Reduce monthly expenses by $1,500 and use the funds to pay debts
- Determine how much to pay monthly to have a zero balance by the end of the year
The biggest takeaway is that reaching your financial vision will require you to work and create goals to ensure your financial vision comes to pass.
5. Evaluate Your Earnings
Finally, evaluate your financial picture to determine how to increase your earnings.
God has given all of us a God-given talent. We can use this talent to get out of debt, invest in our future or build generational wealth. But often, we underutilize the gift God has given to us.
What gift can you use to generate more wealth? Take time to evaluate your income and determine what steps you can take to build a better financial future for yourself and your loved ones.
Remember Your Choice, Your Future!
Kemberley Washington is a certified public accountant and author of 21 Days of Powerful Breakthroughs!
