"If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?" – Luke 16:11

Managing money wisely in today’s fast-paced world isn’t always easy. With so many financial demands, it’s tempting to take shortcuts—grabbing coffee on the go, eating out instead of cooking, or neglecting a budget altogether. But faithfulness in finances requires intentionality. Here’s how you can stay faithful in managing your money according to biblical principles.

Before making financial decisions, seek God’s wisdom. James 1:5 reminds us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.” Set aside time each week to pray over your finances and seek God’s direction.

Create a Spending Plan

A budget is essential for financial faithfulness. Without one, it’s easy to overspend and struggle to meet obligations. If you don’t have a budget, download the free FaithFi app, which provides step-by-step guidance for setting up a plan and tracking expenses.

If your income isn’t covering expenses, you have two choices: cut spending or increase income. Trimming expenses is often the easier option.

Cut Unnecessary Expenses

Start by reviewing where you spend the most. While housing costs may be fixed, food expenses can be reduced with intentional planning:

Limit dining out to once or twice a month.
Meal plan and shop with a list to avoid impulse purchases.
Consider online grocery shopping to stick to a budget and avoid overspending.

Beyond food, look for other savings opportunities:

Cancel unused streaming subscriptions.
Form a babysitting pool with other parents.
Seek out free local activities for entertainment.

Build an Emergency Fund

Financial stability requires preparation. Start by setting aside $1,500 for unexpected expenses like car repairs or medical bills. Gradually work toward saving three to six months’ worth of living expenses. The peace of mind an emergency fund provides is worth the effort.

Tackle Debt Strategically

If you’re burdened by debt, follow Proverbs 22:7, which warns, “…the borrower is slave to the lender.” Develop a plan to pay off consumer debt using the snowball method:

Pay minimums on all debts.
Focus extra payments on the smallest balance.
Once that debt is paid, roll payments into the next smallest.
Repeat until you’re debt-free.

If you’re struggling to make minimum payments, consider a debt management plan through Christian Credit Counselors, who can help reduce interest rates and speed up repayment.

Save for the Future

Once consumer debt is eliminated, shift your focus to retirement savings. Aim to invest 10-15% of your income in a tax-advantaged account like an IRA or 401(k). If your employer offers matching contributions, take advantage of this free money as soon as possible.

Practice Generosity

Giving is at the heart of financial faithfulness. Commit to tithing regularly to your local church and seek opportunities to bless others through sacrificial giving. As Jesus said in Acts 20:35, “It is more blessed to give than to receive.”

By following these principles—prayer, budgeting, saving, eliminating debt, and giving—you can remain faithful in managing the resources God has entrusted to you.

On Today’s Program, Rob Answers Listener Questions:

My wife is retired. I am 59, and I want to retire next year. So our house is paid off. Vehicles, we have some rented houses. They're almost paid off. When should we take or try to take our Social Security?
I'm 50 years old, self-employed, and max out my Roth IRA yearly. I have a question about Social Security—do you expect it to still be around in the next 20 years, or should someone like me be concerned about its future?
I have a universal life insurance policy worth about $10,500, and my premiums were recently updated to $50 per month until 2031. However, I don’t necessarily need the policy since I’ve donated my body to a hospital, which means I won’t have funeral expenses. Therefore, I’m considering surrendering the policy, depositing the cash value into a bank account, and redirecting the $50 monthly premium into savings instead of continuing the policy. Is this a wise financial decision?
My son has about $10,000 in credit card debt. He called the Christian Credit Counselors, who could help him. But he's also $30,000 in debt to payday cash loans, which charge him 300% interest. Unfortunately, they have said that they can’t help him with those. Is there any avenue through which he can get help with payday loans?

Resources Mentioned:

Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources.

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