28 Jul, 2009
20 Ways We Waste Our Money
Whether a newbie or seasoned budgeter, nearly everyone has spending holes -- leaks in your budget that drain money with you hardly noticing. This article lists 20 common ways people waste money. Only the first five have been included, but be sure to check out the full article. There are a lot of great tips here!
How to waste your money
1. Buy new instead of used. Talk about a spending leak -- or, rather, a gush. Cars lose most of their value in the first few years, meaning thousands of dollars down the drain. And you'll pay less in collision insurance and taxes, too.
2. Carry a credit-card balance. If you have a $1,000 balance on a card charging 18%, you blow $180 every year on interest. Get in the habit of paying off your balance in full each month.
3. Buy on impulse. When you buy before you think, you don't give yourself time to shop around for the best price. Do your comparison shopping, check your budget and oftentimes, you'll decide you don't need the item after all.
4. Pay to use an ATM. A buck or two here and there may not seem like a big deal. But if you're frequenting ATMs outside your bank's network, the surcharges can add up quickly.
5. Dine out frequently. A habit of spending $10, $20, $30 per person for dinner can be a huge drain on your wallet. Throw in a $6 sandwich for lunch and a $4 latte in the morning, and you've got quite a leak.
(Provided by Kiplinger.com. To see the full story, go to http://www.zacks.com/personal-finance/670/20+Ways+to+Waste+Your+Money)
Luke 12:16-21 [NIV]
16 And he told them this parable: "The ground of a certain rich man produced a good crop. 17 He thought to himself, 'What shall I do? I have no place to store my crops.'
18 "Then he said, 'This is what I'll do. I will tear down my barns and build bigger ones, and there I will store all my grain and my goods. 19 And I'll say to myself, "You have plenty of good things laid up for many years. Take life easy; eat, drink and be merry." '
20 "But God said to him, 'You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?'
21 "This is how it will be with anyone who stores up things for himself but is not rich toward God."
Matthew 6:19-20 [NIV]
19 "Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. 20 But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal."
What does God's Story teach us about managing finances?
Today's article provides some insight into the many ways that we can be careless with the finances that God has given us. Another way that the Bible suggests we can waste our money is to "store up" treasures here on earth that will one day not matter at all.
We can so easily fall into this trap of buying more "stuff". Sometimes adults end up building extra storage spaces or even buying a bigger house to hold all of their stuff. (Which sounds a lot like this "fool" in the story Jesus shared in Luke 12). As a Christian, this is a far bigger waste of our money than carrying a credit card balance or paying to use an ATM. God has entrusted us with finances and we have a choice. We will either use them on ourselves for temporary gratification or we will invest them into eternal matters that will store up treasures in heaven.
How can we connect today's story and God's Story with my story?
Certainly some of what we purchase needs to be spent on temporary items. Jesus wasn't teaching against using His resources to cover our needs. What He was pushing us towards is using as much of those funds as possible for things that matter eternally. So here are a few questions to ask yourself:
- Do I see the money that I have as mine or God's?
- Do I pray about purchases...especially larger ones...if that is what God would have me buy?
- Do I at all resemble the guy in Jesus' story who was storing up stuff for himself? (Take a look around your bedroom.)
- Regardless of how I had to honestly answer those questions now...how do I want to answer them for the future?
How does all of this connect with my friend's story?
If you find yourself wondering how you can begin to invest into eternal matters...here are a few ideas!
- Begin to give to your church regularly. If you have an income, giving 10% is a good place to start.
- Instead of getting the newest phone or iPod, make do with the one that you have and instead use that money to bless someone in need. (And, yes, there are plenty of needs around you...once you start looking for them you will be amazed at how many there are!)
- Instead of going to the mall or a movie on a regular basis, use those funds to support a child overseas. There are many organizations through which you can do this.
These are just a few examples...but the point is, the "stuff" of this world will one day fade into nothing. So instead of wasting our money on such things, look around you for ways to impact people in an eternal way. You will be amazed at how many relationships this builds that will allow you then to share Christ. You will be amazed at how much joy this will bring you. And you will be amazed at the eternal reward that will be awaiting you one day!
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