Christian Money Manners 2
Know the difference between good debt and bad debt
What if there is a good second-hand smartphone for sale, but you are a little broke at this time? You decide to take a loan with interest payment conditions, you buy the phone and spend the next 3 months paying back the loan with its interest. Within 4 months, the phone falls into water & stops working. That is a bad debt. On another day, a similar thing is on sale, you decide to borrow cash from your friend with no interest conditions. You get it and also spend a little to replace its outer casing. You then resell it at 3 times the price you bought it for. That is a good debt.
The difference between a good and a bad debt is that a bad debt will cost your finances more, while returning little or no value to your life. While a good debt is when you borrow for a good cause: for something that will add value to your life and probably bring profit. Borrowing to finance luxury items, groceries and rent payments is considered bad debt. Try as much as you can to avoid that. On the other hand, borrowing to advance your career or to purchase an item for business is considered good debt. We need to make informed decisions about this and be able to manage our debts effectively.
Find your value in Christ, not in money
I have noticed that most people are humble and kind, only because the bad economy forces them to. Watch that same person start to grow in their financial income and notice how they change their attitude into a cruel, unkind monster who looks down on everybody else. Unfortunately, it's part of our African society that our value is found in money. Citizens are respected based on what they possess materially. This is the major reason why people buy expensive goods and cars they cannot afford. All to impress their friends and perhaps gain more “respect”. Christian believers are no exception in this trap. Teach yourself this: your human worth and your net worth don’t correlate. As you live, probably a lot of cash will come your way, or perhaps you will spend your whole life with very little to show in terms of financial possessions. Either way, let that not define who you are. Let not money change your character! If I were you, I would resolve this: it doesn’t matter whether I find myself begging on the street or dining with the president, I will remain who I am. Because our value of who we are is found in what Christ has done, not in earthly riches.
Learn from your financial mistakes
If you are like me, you have already been a victim of scams and many other costly financial decisions that depress me all the time I think about them. The financial world is a very complex system for everyone; therefore, you will, once in a while, make those bad economic decisions. Nevertheless, there is no point in regretting your past mishaps. Be kind to yourself and use those disasters as lessons for the future. One bad financial misuse that I have already mentioned is gambling. And there is nothing that breaks my good heart than to see that people never seem to learn that the betting algorithm was not created to give you money, but to take from you. I mean, one bet and loss should be a lesson to never go back. Always keep learning new ways of being financially responsible. According to my favourite language, “Amandl’ endod’ awapheli.” Which means it doesn’t matter how much money you have lost, as long as you live, you can still recover and even do better.
Set goals
In the first part of this money topic, I highlighted the fact that we need to save a portion of our profits for future investments. That cannot happen though, before we establish the principle of setting goals with our finances. Ever heard this statement, “I don’t know where my money goes all the time”? What they mean is that they have not set any clear goals about what they want to do with money beforehand. They just use it randomly as it comes. That is not good. You and I need to be purposeful with that money that the Lord brings our way. To decide how you will improve your life and when you want to achieve that goal (timeframe). It’s called planning. If possible, write down all your expenses and take stock of every other cent that goes out of your pocket. From there, it will be much easier to create a consistent saving strategy. And when I talk about goals, I recommend setting big goals that seem impossible to achieve. We need to start thinking big numbers if ever we are going to improve our current financial status. That is what will motivate us to work hard and be disciplined in our spending.
It’s okay to take risks
Our minds are wired to hold onto as much as we can to our wallets, which means taking as little risks as possible. However, based on my experience, I have realised that some good financial decisions often involve taking risks with our cash. Again, I don’t mean gambling. But I am aiming towards potential investment opportunities that may require cash input. The same principle applies to any successful business. It’s necessary to risk your capital upfront to kick-start that business. And yes, the word ‘risk’ means there is a real possibility of failure. However, I think it’s better to fail having tried, at least you can take good lessons for next time.
Be thankful for your current financial status
Complaining and comparing our lives with others are signs of a lack of gratitude. Ultimately, we are all trying our way into this world, hence everything we have or don’t have is down to the opportunities that the Lord has given us. Therefore, the least we can do is to be thankful. The biblical word is ‘contentment.’ Let’s live with appreciation for that little that the Lord has given us. It is sinful to feel pressured to the point of depression because you do not have this and that, in comparison with so and so. The size of our bank accounts can never be the same. As long as you can provide basic needs for yourself and your family, you can be grateful. Salute.
Sinothi Ncube
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