BY SHAWN DOBBINS
The federal government has passed three separate COVID relief laws to cover losses during a pandemic year. Christians will not agree on whether these bills were prudent or necessary, but this has resulted in individuals and families receiving money they never expected.
Christians want to know what is right and how to handle this extra money. We know that God has called us to honor Him and to be good stewards of our money, even our incentive money. The answer begins with understanding that God is sovereign and owns all of our financial resources.
It is our duty to manage the money he has given us. Some use that money for basic needs and what a blessing that is! Others will be to varying degrees freer to spend this stimulus in different ways. Below is some biblical advice on how to manage your stimulus money.
Budget your money
One of the fastest ways to lose control of your money is by not having a plan on how to use it in the first place. Sitting down with a simple budget form and planning your regular income only makes sense for each person.
“For which of you who wants to build a tower doesn’t you sit down first and calculate the cost to see if you have enough to complete it?” (Luke 14:28, CSB)
If you don’t have a plan for your stimulus money, you will regret where that money was weeks or months ahead.
Give purposes to your local church and kingdom
The Bible teaches that we should regularly give generously to our local church in the form of tithing or more. By giving to your church, you are helping the Grand Commission in your ward fund events like VBS, summer camps, missionary travel grants, seniors distributing food, and pastors preaching the word.
You support missionaries in your state and around the world through your Southern Baptist Church, who donates a portion of every dollar for the cooperation program. You may want to set aside an item above your tithing / offering to support mission offerings, save yourself a missionary trip, help your church pay off debts, or encourage a missionary. There is no better way to honor God than to give something to our churches and the Grand Commission!
Save some money
Even as adults we have problems with “money that burns a hole in our pockets”. This can be a time to save wisely.
“There is precious treasure and oil in a wise man’s home, but a fool consumes them.” (Proverbs 21:20, CSB)
We don’t know what tomorrow will bring, so saving that money can make sense.
repaying debts; to repay debts
The Bible wisely tells us to avoid debt. Anyone in great debt understands the weight of this verse: “The rich rule over the poor, and the borrower is a slave to the lender” (Proverbs 22: 7, CSB)
Get away from someone else’s control and free your money so that you can use it for the glory of God and for your family.
Long-term benefits for your family
“But if someone doesn’t look after his own family, especially his own household, he has denied the faith and is worse than an unbeliever.” (1 Timothy 5: 8, CSB)
Think about how you can invest for the long-term good of your family. It could be an investment in your home, your children’s education, a new education to boost your career, or maybe a vacation that strengthens your marriage and family.
Find a lawyer
If you are overwhelmed by numbers or struggling with anxiety, seek advice. A wise advisor can help you decide what your next steps should be.
There should be no shame in asking for advice. In fact, the Bible says it is advisable to seek help. “Plans fail if there is no lawyer, but with many advisors they are successful.” (Proverbs 15:22, CSB)
Talk to your pastor, elder, church member, or financial advisor about how to use your funds wisely.
There are many ways that you can use this money to glorify God that are not listed above. Let us all thank God for all of the supplies He gives us, and may we use all of these gifts to glorify Him!
Shawn Dobbins is a senior pastor at the Hebron Baptist Church in Hebron, Kentucky.