By SALTY Admin
Posted in Success
By Robert Williams
Debt is a chain that will hold you in bondage. As it says in Proverbs 22:7, “The rich rules over the poor, and the borrower is servant to the lender.” This issue really hit home with me when I made the decision to attend graduate school. I would ask the Lord, “Why would you give me this calling where I would need debt financing?”
Thinking about the seemingly impending doom that comes from paying off student loans, I contemplated the Lord’s heart behind his warnings and instructions on money. Ironically, I received my answer by reading Robert Kiyosaki’s book entitled Rich Dad, Poor Dad. The content opened my eyes to the power that money has. In a consumer driven society, no matter where you sit in the financial totem pole, you will be encouraged to spend, spend, and spend. You eventually spend so much money on consumer goods and expenses that you find yourself in an endless cycle of money-in, money out.
Suddenly everything the bible said about the evils of loving money made sense. Money is not inherently evil and having wealth is not a capital offense. However, it can become the ultimate master of modern men if we give it that power. A master that gives reason to wake up in the morning, consumes your time and mental capacity, and becomes your sole comfort in times of trouble. For me, the solution to the problem was this: learn financial literacy, become master of my money, and stop living in fear of it.
Financial literacy is the understanding of how money is used to create debt or to create wealth.
Every time I make a purchase now, I consider whether or not this purchase will generate income (asset) or pull away from my income (liability). For instance, buying a new video game system could become an asset if invested into a business that runs video game tournaments, or it could become a liability if I leave it in my living room and pay monthly fees for online usage. To become master of my money, I began practicing the mindset of paying myself first. This means before I pay any expenses, I set aside money for acquiring assets. This ensures that I am always generating more income; and I am incentivized to work harder to pay my bills. Shedding my fear of money comes with submitting everything to God in prayer and in practice. That means tithing even when in seems crazy to do so. And through daily prayer, the Lord teaches me that my fears have no merit because he would never let me be consumed or destroyed by money.
In a consumer driven society, money will always be a major issue. Financial literacy is key to becoming free of money’s control. As believers in Jesus Christ we must get to a place where we become the master of our funds; giving glory to God with our wealth and never fearing the prospect of becoming wealthy.