3CI Biblical Business – Session 3

On Wednesday evening 24^th March, the 3Ci Business Forum turned momentarily away from the business of business and focused on that often scary area of personal finances. For who can even think of running a successful business when their personal finances are in disarray? In the arena of learning about business from the perspective of the Kingdom of God, this is even more important. This evening was devoted to the area of personal finances and developing and managing a Kingdom budget in our homes.

The Importance of Developing a Christian Worldview

Christianity is the only faith that accurately explains the world and how we ought to live in it. If you feel that is an arrogant statement, then learn from the life of Jesus “…who, though he was in the form of God, did not count equality with God a thing to be grasped, but made himself nothing, taking the form of a servant, being born in the likeness of men. And being found in human form, he humbled himself by becoming obedient to the point of death, even death on a cross. (Philippians 2:6-8, ESV)” The ultimate antidote against Christian arrogance takes root in our hearts as we begin to model our worldview and our lives on Jesus Christ himself.

We need to avoid the mistake of thinking that having the right vision and the strategy and the right actions to underpin it will automatically bring us success. So often our best intent fails because we have failed to address the underlying assumptions and perspectives we hold about the matter at hand. Our worldview influences everything that we do – to paraphrase Francis Schaeffer “A man’s worldview will flow through his brain and out through his fingertips, shaping the world that he builds and ultimately that within which he lives.” If we want to get our finances right, we need to pray for revelation regarding God’s perspective on finances and our business. In fact, we need God’s revelation regarding every area of human endeavour in which we are involved – whether it be business, work, marriage, parenting, or even politics. Part of our work as Christians therefore is to develop a Christian Worldview.

Real vision in life starts with revelation. People who succeed in life have a God-thing burning in their chests and the grace to make it happen. Get a revelation from God about His purpose for your life and your business and then let Him guide and direct your steps as He takes you to that ultimate purpose.

Personal Finances: from bondage to freedom

The first thing business people must do is separate their personal finances from their business. This is done by drawing up a personal (home) budget and then drawing down a salary in order to meet that budget. Manage your home finances and your business finances separately thereafter. Failure to do this is guaranteed to result in poor financial management on both fronts.

We need to understand that money is a tool that can easily destroy us if we are not cautious. The way God blesses all of mankind is that some people have enough or even more than enough, others have just enough and some never have enough. One of the reasons we cannot get ahead financially is often because we are unwise in our approach to our finances. We get into debt and ultimately allow our money to control us. We must avoid the myth that money is power. Jeremiah 6:13 warns us against giving money an inappropriate place in our lives "For from the least to the greatest of them, everyone is greedy for unjust gain; and from prophet to priest, everyone deals falsely,” and Malachi 2:2 warns that we must walk cautiously with our finances for if we don’t, the blessing of financial wealth can become a curse “If you will not listen, if you will not take it to heart to give honor to my name, says the LORD of hosts, then I will send the curse upon you and I will curse your blessings. Indeed, I have already cursed them, because you do not lay it to heart (ESV).” Jesus reminds us in Luke 12:15 “And he said to them, "Take care, and be on your guard against all covetousness, for one's life does not consist in the abundance of his possessions (ESV)."

Just as it is wrong to think that our security subsists in our finances and possessions, it is equally irresponsible and sinful to mismanage what we have. One of the rules of stewardship is that if we cannot manage R10,000 per month then we will not manage R50,000 per month. We must take responsibility for our finances and our belongings and manage them to the glory of God. If we manage our finances wisely and well, we will live in the freedom of God and have plenty of treasures. Pro 24:3,4 states “By wisdom a house is built, and by understanding it is established; by knowledge the rooms are filled with all precious and pleasant riches (ESV).”

Get out of debt! Quickly!

The world system is geared towards getting us into debt and keeping us there. People who are chronically indebted are not free to manage their money in accordance with God’s principle of generosity. Do not confuse personal and business debt. There are some benefits to having certain types of debt for certain reasons in business, but the rule at home is to be as debt free as possible – get out of it quickly. In fact, if you are in debt, RUN

HELP!!!

First off is to face your debt. Don’t avoid it. Make a detailed list of all of your debts, from home to clothing accounts. Make a commitment to get out of debt and then go cold turkey. Stop it this minute. Then:

• Cut up your credit cards
• Make arrangements with creditors
• Sell surplus assets
• Pay them off one by one starting from the smallest to the biggest and when you have paid one off, add that amount to the next one’s payments. This way you pay off your debts with ever-increasing speed

The only debt that one may wisely entertain is for a car and a house, but make sure that you are within your means and that you pay off these items sooner rather than later. You will save oodles of cash in interest avoidance.

Active Budgeting

(See the budgeting spreadsheet on this website as a guideline.)

Whoever is best at admin should manage the budget, even if it is the wife, but the whole family should be part of the process in drawing up the budget and taking responsibility for meeting its demands. Once it is set up (the guidelines are a good measure), stick to it. Review it monthly and have family meetings about your financial outlook. When you are still short, a detailed budget will allow you to analyse wisely where the problem areas are and these can be addressed.

Do it!

If this session served for you as an alarm bell, good! Don’t fall into despair and know that God will help you apply wisdom to your finances – just ask for wisdom. James 1:5 says “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.(ESV)” Just get on with it, though! If you are wise in managing your financial life, God’s blessings will abound and you will find that you have enough and beyond with which to live the Christian life – supplying the needs of your family and having enough to share with others.