Broke? We May Have to Grind for a Time
Most people are in the midst of a money problem or have had one (or more). It’s nothing to be ashamed of. Money problems are realities of life and mastering our money is something we’d fair well to do sooner than later. For me, it was later: I was 47. I wish it were earlier, but still say, better later than never.
Our money problems can range from too little income, possibly loss of a job, medical bills, tax debt/levy, student loans, high credit card usage, personal loans, loss of a spouse or income contributor in the household, etc. These things can be classified into two categories (low income and high expenses). Whatever the reason, we were left with a money problem to contend with. And while there is no shame in having a money problem, it’s also nothing to glory in. It does not reflect well upon us…or our God.
We may have to grind, for a while; some of us more than others. If income is low, we need a raise, a job that pays better, or another income stream. There are only so many hours in a day, so getting a greater return on the work hours we are already putting in, would serve us best, if possible. Maybe we can get a raise for the job we are already doing; or get a promotion to a position that fits our more specialized experience and skillset- possibly with the same employer.
Otherwise, maybe we can get a second job or better yet, start a side-hustle using our passions, gifts, and/or abilities. It can range from virtual services to cooking/baking, selling crafts, babysitting, or pickup and delivery. We can do these things as an employee or contractor for someone else or we can do these things as a solopreneur. We can have a yard sale (or 2 or 3); or we can sell things we don’t need or want on eBay, Craigslist, or Facebook Marketplace. Very important to remember is that no matter how much money we make, it won’t fix our money problem, if our spending goes up, too. In order to make ground we need to make more money and spend less money. Surplus most go towards ramping up saving and/or getting out of debt.
Now we look at our spending and see what we can do there. It might
serve us well, to track our expenses for a thirty-day period or more to get a sense of where our dollars and cents are going. Whether we chose to do that or not, at the very least we need a list of all our bills and expenses- everything we spend money on. First, we go through the list and divide our expenses into needs vs wants or priorities vs preferences. The needs/priorities are our essentials. It isn’t as easy as it seems because some wants are treated like needs. But needs are things like tithes, insurance, housing, utilities, basic food, and transportation. Many times, there is very little wiggle room when it comes to needs, but that doesn’t mean we should check. Maybe we can get a better interest rate, use less water and energy, eat more whole foods, etc.
Then, there are wants/preferences- some of which stand out as obvious candidates to put on pause until our situation is better. So, do just that. Go online, stop subscriptions, reduce plans, cancel services, and learn new skills; make calls to haggle for better rates, find out what options are available; review current policies to see if there are any ways we can save on auto and home insurance, etc. Generally, financial advisors recommend getting quotes every 6-12 months. The short-term goal is to reduce spending to free up cash to throw toward savings and debt.
There’s something almost magical that happens when we start paying attention to our money. We start seeing habits we never paid attention to; questioning whether we need certain things; and seeing opportunities we hadn’t noticed before. It’s very unlikely that someone will come in and fix our money problems. All of the “helping” in the past, didn’t help us in the long run- because our behaviors remained the same. In fact, some relationships may have been damaged or lost in the process. But, as we continue our current path towards financial wellness, we can feel good about becoming educated on the subject, applying new tools, owning our own situations, and making long-term and life changing progress. We can feel good about honoring God in our finances, the way we do in other areas of our lives. So, let’s learn from our experiences, grind for a time, and create a better way of living.
“But let every man prove his own work, and then shall he have rejoicing in himself alone and not in another. For every man shall bear his own burden” (Galatians 6:4,5).
