According to the latest statistics, over one-half of all families in America are experiencing financial difficulties. This includes single parent homes.  Most people have financial problems, but don’t know 

In order to be aware of the financial difficulties one has and know what causes them, a person must educate himself to the reasons for the difficulties.  The following are a list of reasons that most people find themselves in financial difficulty.

1. FAILURE TO FOLLOW SCRIPTURAL PRINCIPLES.  The Bible is full of guidelines regarding financial principles.  In fact, one-half of all parables and one out of six verses in the New Testament deal with stewardship.  Get your Bible out and start studying.  Ask your pastor for more information.  See a Christian Financial Counselor for assistance.  You will find great guidelines and principles in the Word of God.
2. FAILURE TO IDENTIFY YOUR PRIORITIES.  Just exactly what do you want?  More things or better financial stability?  Prioritize your desires and needs and stick to it.
3. NO DISCIPLINE!  That one horrible word causes us more problems than anything else in the world.  We need to exercise discipline in every phase of our life, especially when it comes to discipline!  Discipline yourself to limit unnecessary purchases and wasting money.  Discipline yourself to set down once per month to analyze your finances.  Discipline will be the greatest thing you can establish in your life. Work diligently with disciplining yourself.
4. FAILURE TO ESTABLISH GOALS.  A person who has no goal is a person without direction.  A person without direction is going…nowhere!  To solve your financial difficulties, you have to establish a clear goal.  Where do you want to be one year from now; five years from now, etc.?  Write your goal down and work toward it.
5. NO CONTROLS.  This compares to discipline, however, it means to have written controls over your spending.  Write down what your limits are.  Review them frequently. 
6. FAILURE TO ESTABLISH A BUDGET.  A budget is not a nervous breakdown on paper.  It is a clear cut guideline of where your money comes from and how it is to be spent.  It only takes about 1 hour per month to maintain a budget so that you can control the process of knowing where your money is and how it is spent.  Don’t negate the importance of a written budget…it will be the greatest factor in helping you get your finances under control.
7. UNABLE TO CONTROL IMPLUSIVE SPENDING.  If you don’t follow the direction of your budget and discipline yourself, you will be unable to stop spending when you see that item that you just must have.  Don’t spend any unnecessary money until you discuss it with someone. You must control your spending if you ever hope to get ahead financially.
8. FAILURE TO IDENTIFY NEEDS AND WANTS.  We all have desires.  When we go shopping sometimes our desires override our needs.  We need to identify what is really necessary to purchase and what can be put off until the finances are in better order.  Again, it doesn’t hurt to write down the necessary items that you must purchase so that you will constantly be aware of how you can spend your money.
9. FAILURE TO ADJUST YOUR LIFESTYLE.  We live in a society that promotes “keeping up with the Jones’”.   Too often that process gets us in trouble because we over extend ourselves in order to gain and accumulate in order to impress others.  We must learn to adjust our lifestyle so we can live within the means of our income.
10. FAILURE TO RESIST CREDIT BUYING.  It is so easy to get credit cards today.  In fact, many people get pre-approved applications in the mail each month.  The reason credit card companies promote their credit card is because it is much easier to spend if you have credit cards, and they know it.  The facts are a person will spend over 30% more if they have a credit card.  Establish limits to your spending and stay within that boundary so you don’t get caught in the horrible trap.
11. FAILURE TO RECOGNIZE WRONG COUNSEL.  You can get any type advice you want from anyone you talk to.  But the facts are when you need financial help you should talk to people who are in that business.  There are many financial advisors, accountants, bankers, etc., who are willing to assist anyone who seeks help.  Talk to the right people and you will get the right advice.
12. FAILURE TO BE ACCOUNTABLE TO GOD.  We are guilty of thinking that God is not concerned about our finances.  But remember, God has made you a manager of your possessions.  You are responsible for managing them in the correct and proper manner and if you don’t then God may not can trust your with more.  Pray about your financial decisions.  Read the Bible…there are hundreds of scriptures that give sound principles for financial help.  You are accountable to God for everything you have, and that includes your finances.
13. FAILURE TO SAVE.  Those gifts you received at the wedding shower won’t last a lifetime!  You are always going to have “a rainy day”.  There will be emergencies when you least expect them.  Because of that, you must plan and prepare by saving.    Not only will you have to replace items, but there are many reasons to save.  You will have medical emergencies; kids will need braces; you may want to take a vacation; the kids will need college funds; retirement will not be an option one day.  These are only a few reasons you must save.  Establish a consistent plan of saving and stick with it.
14. FAILURE TO EXECUTE A WILL.  Everyone needs a will, but very few have executed one.  It is so important to have a will that clearly establish wishes and desire of the parties executing one.  If you don’t have a will, then you allow the State to make your plans for you.  It can also cost your heirs additional legal fees and estate taxes.  At your earliest convenience, contact your attorney to draw us a will.  You will have a peace of mind and will help your heirs considerably.
15. FAILURE TO BALANCE INVESTMENTS.  There is an old saying that goes like this:  “Don’t put all your eggs into one basket.”  There is a need to diversify your investment portfolio.  Discuss various type investments with those who know about them and invest accordingly.
16. INVESTING IN SPECULATIVE INTERESTS.  There are many “quick, get rich schemes available to the investor.  In addition there are high risk ventures that may pay high interest rates, but are risky.  Most people can’t afford to lose their investment, so don’t fall for these type investments.
17. FAILURE TO COMMUNICATE WITH YOUR SPOUSE.  This can cause great difficulty, not only in the area of financial means, but also in the marriage.  Discuss your investments and financial decisions with your spouse.  Let him/her know what you have done and who can be contacted if necessary.
18. FAILURE TO MAINTAIN PROPER RECORDS.  One of the saddest stories I have every heard was with the lady who came to my office after the death and burial of her husband.  He had left her well off financially, but had failed to inform her where important documents were.  He had kept it all to himself, and several years later, she has still not been able to find all the papers she needed for financial decisions.
19. FAILURE TO ‘STICK WITH IT’.  Too often we become lax and fail to keep up with what it necessary to stay out of financial difficulty.  Don’t quit!  Don’t get weary in well doing!  Stay with your plan until you see the end result.
20. FAILURE TO MAINTAIN THE DESIRE.  You must be able to see the end result of your plan and without that desire your dream will fade away.  You can be financially secure and free from debt and worries.  Don’t lose sight of the anticipation of being free of financial worries.  Let your desires remain high and work together to see the results.

 You can learn more about the importance of tithing & giving at http://www.pastoralhelps.com/where-your-treasure-is/

     It is not God’s desire that people continually struggle and battle with financial worries.  You and I can see relief if we will only do what is necessary and trust the Lord.

Copyright 2004 Rev. AUBREY JAYROE