Christian Family: Managing Your Money

In the first quarter of 2025, credit card debt in the USA increased to $1.209 trillion, with the average family carrying approximately $9,144 in credit card debt.  During the past year (2023-2024), 9.1% of credit card balances transitioned into delinquency.  The average credit card APR was 21.9%.

Sad to say, Christians make up a good portion of this debt picture.

Christians must manage their money wisely as good stewards of the gifts God has given them.  In all of my other “Christian Family” articles, I have focused on parents training their children.  But, for this subject, training is needed for parents first, so that they can teach their children by example.

What does the Bible say about managing your money?

Recognize God’s ownership of everything, including your body.  “The earth is the LORD’s, and the fulness thereof; the world, and they that dwell therein.”(Psalm 24:1).  “What?  Know ye not that your body is the temple of the Holy Ghost which is in you, which ye have of God, and ye are not your own?  For ye are bought with a price: therefore glorify God in your body, and in your spirit, which are God’s.”  1 Corinthians 6:19) God is the owner of the material possessions you have.  He has merely entrusted you with them temporarily.  You are the steward of your God-given resources.  “Moreover, it is required in stewards that a man be found faithful.” (1 Corinthians 4:2)

First things first: The Purpose to give.  “But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.” (Matthew 6:33). Consider the following statistics from Health  Research  Funding:

1. “For Christian families making less than $20k per year, 8% of them gave at least 10% in tithing. For families making a minimum of $75k or more, the figure drops to just 1%.”   Does that mean that the more money people have, the less generous they are?
2. “37% of people who attend church every week and identify themselves as Evangelical don’t give any money to their church.” The Christianity of these people does not extend to their pocketbook.
3. “77% of those who tithe give 11–20% or more of their income, far more than the baseline of 10%.” These people have found joy in giving, which motivates them to give more.
4. “People are more likely to practice tithing when they begin the practice in their teens or early twenties.” Be an example first to your children and then teach them to give.
5. “People who tithe regularly typically have less debt than other demographics – 8 out of 10 have zero credit card debt and 28% of them are completely debt free, including not having a mortgage.” The principle here seems to be that when you put the Lord first in your budget, God blesses you

Pay yourself first. Saving should be at the top of your list, AFTER tithing and giving.  Save for emergencies and save for retirement.  “ Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, Provideth her meat in the summer, and gathereth her food in the harvest.  (Proverbs 6:6-8)  ^“ A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.  (Proverbs 13:22).  The ant provides for emergencies by gathering and storing food ahead of time for the cold winter.  A man cannot leave an inheritance for his children’s children if he does not first save money.

There is nothing wrong with wealth or with saving money –  if it is for the right motive and right cause.  “And whatsoever ye do in word or deed, do all in the name of the Lord Jesus, giving thanks to God and the Father by him.” (Colossians 3:17) “Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: For where your treasure is, there will your heart be also.  (Matthew 5:19-21) While some advocate saving a specific percentage for emergencies and retirement, you may not be able to do that.  Just start saving.  Even a small amount saved over the years can accumulate to a substantial sum over 30 to 40 years.

.Prepare a Budget.    “For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?  (Luke 14:28) The only way you can prepare a reasonable budget is by keeping an accurate track of your current spending – every major and minor expense, every credit card charge, every cash and pocket change transaction, every impulse purchase.  Tedious?  Yes.  But necessary.

Control Your Spending.  After you see where all your money has been going, several ways to decrease your spending should be obvious. Is your contemplated purchase a need or a want?  Is it something you planned to buy?  Or will it be an impulse buy?  (You see it, you want it.) Why do you suppose the retailers put all those impulse items close to the checkout register?

Eliminate or control credit card spending.  Only use your card for expenses you can pay off each month. By doing so and paying promptly, you will build your credit rating.

Monitor your spending, “Be thou diligent to know the state of thy flocks, and look well to thy herds.” (Prov. 27:23).  It’s your responsibility to know how much money you have in your account.  Make decisions on what you know you have, not what you hope to have in the future.

Avoid debt.  Don’t be a slave to the lender.  “The rich ruleth over the poor, and the borrower is servant to the lender.”  (Proverbs 22:7).  You don’t own your car.  The banker does – and your home, and your furniture and appliances purchased on credit.  And you will do what he says concerning those possessions, or he will repossess them.

Money is earned and comes after hard work and diligence – “The soul of the sluggard desireth, and hath nothing: but the soul of the diligent shall be made fat.  (Proverbs 13:4).  “For even when we were with you, this we commanded you, that if any would not work, neither should he eat.”  (2 Thessalonians 3:10).  God does not promise to provide for the lazy or slothful person.

Beware of coveteousness and greed.  Riches are transitory.  “Labor not to be rich: cease from thine own wisdom.  Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven.”  (Proverbs 23:4-5) Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth.  (Luke 12:15).

Don’t be a co-signer.  “Be not thou one of them that strike hands, or of them that are sureties for debts.  If thou hast nothing to pay, why should he take away thy bed from under thee?”  Proverbs 22:26-27.  Many Christians are unaware of this warning.  They feel compassion for a friend or relative who has thus far proved to be untrustworthy.  The friend or relative promises passionately that they will pay their debt.  After a couple of months, they default, and you are left to pay their debt for a property you will probably never own.  Let your friend or relative pay their own debt.  They need to learn responsibility.

Pay your taxes.  “Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom.”(Romans 13:7).  A few Christians wrongly think they don’t have to pay taxes.  The Bible is very clear.  Pay your taxes.

There is one Biblically prescribed debt.  “Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law. (Romans 13:8).

Get started today managing your money God’s way.  The verses used in this article are a tiny percentage of Bible verses on money.  There are approximately 2,000 verses related to money, with Jesus discussing it in about one out of every ten verses.  In comparison, there are only about 500 verses on faith and fewer than 500 on prayer.

When you accepted Christ as Savior, was your pocketbook converted?