How do we keep our pay cheque when all around are losing theirs and blaming it on student loans, CDs, clothes, holidays, drink, rent . . .

More important, how do we learn to use our money wisely and well?

Leaving university and moving into the ‘big bad world' can seem especially daunting when it comes to handling money. You may have spent the last few years struggling with spending and building up significant debt. Suddenly you may be earning quite a lot and you are wondering about your priorities. What do you need to live on? Can you afford to start saving yet? And, of course, as a Christian, are you giving generously and happily?!

Although this may not be reflected in the sermons you hear, there is an immense amount of teaching about handling money and possessions in the Bible. For example, there are around 500 verses on prayer and a similar number on faith, yet there are more than 2350 verses on handling money God's way. This teaching is as important now in our materialistic society as it ever has been. It is so easy when starting out to think that life is all about earning more, and each year having more than the year before. But Jesus clearly teaches us not to store up treasures on earth which rot and destroy but to find ways of storing up treasures in heaven (Matthew 6:24). This is not easy when our society seems to worship money and will even use others to get more for ‘self'.

So how can we learn to handle money God's way? We need to look at the teaching on the main issues - debt, giving and saving - and then apply them to today's society.

Debt

Debt is a major problem in the western world today - especially in the English speaking nations. It has been estimated that the average unsecured debt (i.e. credit and store cards) of each individual in Britain stands at around £14,000. With over 47 million credit and store cards in use in Britain, compared to under 3 million in Germany this is perhaps inevitable. There are in fact more than 1200 different cards to choose from!

Debt causes all sorts of negative emotions including fear, guilt and loneliness. In a society where success is measured by what you have this is not surprising but it makes it very hard to admit to. Money problems are frequently named as the major cause of relationship breakdown; they can cause health problems due to stress and lead to an increasing sense of isolation. As debts mount, so ‘the borrower becomes a slave of the lender' (Proverbs 22:7). It is important to remember that whenever you take out credit you are making assumptions that you will be able to repay out of future income. Now with very few jobs for life, this needs careful thought.

As Christians it is not wrong to have debt. There is a big difference between having a mortgage (which is a debt) and being behind on it (which is being in debt). We should remember that we are called to ‘let no debt remain outstanding' (Romans 13:8). So when we borrow, as we inevitably will have to if buying a house for example, we need to ensure that it is well within what we can afford to repay out of monthly income. We should think long and hard before borrowing to buy non-essentials or things that just glorify ourselves.

Avoiding Debt

Every Christian can usually avoid debt and at the same time demonstrate that they are being good stewards by budgeting. What this means is simply working out what your income is, where the money is being spent and whether there is a surplus or a deficit. The easiest way of doing this is to have a notebook and pen and spend a month writing down literally where every penny goes. At the end of the month categorise the spending and look at the totals. This can be quite horrifying! Often you will find that you are spending more than you thought on things that are not important to you. This can enable you to cut down spending sharply and help you to increase both giving and saving. Credit Action has a range of guides to help you in budgeting effectively.

Giving

If ever there is a subject to get Christians hot under the collar this is it! Law or grace, tithes or gifts, net or gross, the battles are endless. One thing is clear: we are to be generous givers and in 1 Corinthians 16, Paul shows that our giving needs to be planned, prioritised and premeditated. In other words giving needs to come first and be the thing that we continue to do regardless of what other pressures there are on us to spend elsewhere. It is simply a matter of priorities. Often we think we would give more if only we had more, not realising that in worldly terms we are very rich. It is much easier for us to compare ourselves with the 10% who have more rather than the 90% who have less. But God does not want to condemn and neither should we. I believe that God does not look so much at what we give as to what we keep. This is why the story of the widow's mite is so powerful.

Giving is about priorities. Do our priorities really reflect our belief in eternity and the fact that whilst on earth we actually can, by putting others first, store up treasures in heaven?

It is important when giving that maximum advantage is taken of the tax incentives available to both church and charitable giving through things such as Gift Aid and Payroll Giving. Both Sovereign Giving and Stewardship Services are Christian organisations that can help you plan this effectively.

Saving

Saving may seem like the last thing possible when just starting out on your career. But you should try to do so, even if it is small amounts to start with. It has been calculated that someone who saves £100 a month between the ages of twenty and thirty will have a larger pension on retirement than someone who saves £100 a month between the ages of thirty and sixty-five. With people living longer the percentage of the population that is working is constantly declining and you should plan to protect yourself and your family. Some people seem to think that they do not have to save as ‘God will provide'. However, this is not faith but mere presumption and in reality can mean that other Christians will be asked to bail out those who should have been more responsible with their money.

In fact it is clear that God calls us to save. We are called to provide for our children and to ensure we are not a burden to others. ‘In the house of the wise are stores of choice food and oil, but a foolish man devours all he has' (Proverbs 21:20). It is important to realise that saving requires self-denial. Just as Joseph saved in the years of plenty so should we when the job is going well and things look bright.

Saving can be quite a complicated area and with scandals of mis-selling over recent years it is sensible to seek advice. The Association of Christian Financial Advisers can put you in touch with someone in your area.

Conclusion

As Christians we need to be giving generously, saving sensibly but not hoarding and expecting to have some debt but trying hard not to be in debt. We need to remember just what Jesus has given for us and try and demonstrate this love by showing that other people matter more than things. Importantly we need to pray about the use of money and possessions as much as anything else. We must be prepared to reject the values of consumerism for the eternal values of love, grace, forgiveness and generosity as displayed by our Lord.

For more information please contact CREDIT ACTION who have a wide range of material covering all aspects, both biblical and practical, on all matters relating to handling money and possessions.