- Do I need it? Am I at peace in my spirit about this purchase? (Colossians 3:15; Proverbs 1:5,7; 20:27; 22:4.)
- Is my spouse in agreement? How will it affect my wife? husband? children? (Amos 3:3; Proverbs 11:5; 12:15; Matthew 18:19.)
- Have I compared prices? Will its value rapidly increase or decrease? Does it matter? Can I get along without all the bells and whistles? Would a less expensive unit do as well? (Proverbs 13:16 AMP, 20:14; 27:23.)
- Will I want this item as much next week, next month, next year, as I do today? Delay does not mean denial. (Proverbs 27:12,20; Ecclesiastes 3:1.)
- Will this purchase improve the quality of my life or that of my family? How often will I use it? Am I buying this for appearances or to meet a need? (Proverbs 11:2; 12:9, 26; 13:7,10; 16:18.)
- Do I have a plan to repay this debt rapidly? Is the plan written out with timetables? Can I wait and pay all or part of it in cash? (Proverbs 12:11, 27; 13:12; 21:5; 22:7; Hebrews 6:12.)
- Is this affordable in my present financial situation? Am I buying this only because it is on sale? Remember: if you really don't need it, it's not a good deal. (Proverbs 16:2,3; 21:20.)
- Have I considered the cost of owning this after I have paid the price for getting it? For instance, what will upkeep and maintenance cost? (Luke 14:28; Proverbs 31:16.)
- Will this purchase help me in achieving God's goals for my life? Is there another way this goal could be met? (Proverbs 13:19; 19:21; 20:18.)
The rich ruleth over the poor, and the borrower is servant to the lender. Proverbs 22:7
Avoid the Five Enemies of Planned Spending
- Don't be a penny pincher. If there is no allowance for pleasure, the plan is doomed from the start. Plan a family reward when the goal is met or schedule a pleasurable time together. Without a planned reward, a splurge will bring guilt and make the spending plan look like a failure.
- Have the entire family help in the plan. Children old enough to spend money should have their say. Otherwise the family feels controlled by the deciding parent.
- Avoid the gratification syndrome. Realize people sometimes use money as a cure for feeling low or a reward for a job well done. Keep sight of your goal.
- Don't allow money to replace self-esteem. When times are tight, some people "pick up the tab" or do other things not in their budget to "appear" in good shape.
- It's foolish to give unless God is in it. Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom (Luke 6:38). If we give, we shall receive, but giving should be God-directed. If you need to know where to sow, ask. If you are directed by the Spirit of God, you can fully expect a miracle in your finances.
Excerpt permission granted by Harrison House Publishers