The first of the month will be here before you know it. That means the mortgage or rent is due. So is the water and electric bill. Maybe even the car payment and auto insurance. Oh, and don’t forget the car needs more gas soon. You can fuel up on your way to the grocery store.
That’s how it goes with money, doesn’t it? It comes in, and the money goes right back out. And, for a lot of us, there’s not much left over when it’s all said and done. It’s a never-ending cycle that leaves many families wondering how to get ahead when they’re barely making it.
Generally, the most common solution couples discuss is to make more money. Although extra income may ease the immediate financial pressure, it’s usually not a long-term solution. The more money we earn, the more we’re likely to spend to elevate our standard of living. That’s why couples who make $200,000 per year are as strapped as those making three or four times less.
Ultimately, the most effective long-term solution is to live on what you make – no matter your income level. But what do you do when controlling spending isn’t one of your strengths? There are a lot of ways to develop financial discipline, but author Michelle Singletary has a unique approach.
She calls it “financial fasting,” which teaches you to be content within the means that God is providing you. It follows the basic premise of the “Daniel Fast,” which mimics the Old Testament character’s 21-day diet, except instead of abstaining from food, you avoid unnecessary spending for 21 days. You also specifically invite God into your finances during this time following the acronym PAY as a guideline for spiritual connection:
- PRAY daily about your financial situation.
- ACT on godly principles that will help you gain control of your money.
- YIELD to God’s will.
If money is a constant source of stress in your life, I hope you’ll join us for our conversation with Michelle Singletary on our Focus on the Family Broadcast “Fasting for a Financially Fit Future.” She is an author and a personal finance column writer for The Washington Post. Her practical ideas may be just the thing you need to get your money on the right track.
Michelle’s book The 21-Day Financial Fast: Your Path to Financial Peace and Freedom is available for a gift of any amount. Visit our website or give us a call at 1-800-A-FAMILY (232-6459).