7 Healthy Habits for Financial Freedom

Whatever you do, do it enthusiastically, as something done for the Lord and not for men, knowing that you will receive the reward of an inheritance from the Lord. You serve the Lord Christ.
Colossians 3:23-24

As believers, we are called to do things enthusiastically—and not just to cross them off our list. It honors God when we put our hearts into what God calls us to. “Stewardship” means managing or looking after another's property. Since God owns it all, we want to be faithful stewards of everything He’s trusted us with. When it comes to managing the money God’s entrusted us with, here are seven ways to become a more enthusiastic and faithful steward:

1. Make Prayer Your First Response 

Pray about financial decisions—especially the big ones. Make prayer your first response, not your last resort. 

Take care, and be on your guard against all covetousness, for one's life does not consist in the abundance of his possessions.
Luke 12:15

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2. Find an Accountability Partner

Find someone in your life to help keep you on track with your finances. Having an accountability partner helps in a variety of ways: when you’re shopping—in person or online—and the latest gadget catches your eye, your accountability partner can help you think critically about your spending decisions. 

Without counsel plans fail, but with many advisers they succeed.
Proverbs 15:22

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3. Set a Financial Target

Set financial goals that help you prioritize your spending, saving, and giving. A financial goal is anything that you want to accomplish within a certain time frame, whether that means saving for a car by your next birthday or your child’s college tuition. 

Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?
Luke 14:28

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4. Track Your Spending & Budget 

Create a system that helps you itemize your spending so you know where every dollar is going. Budgets help you live within your means and progress toward your financial goals. 

The plans of the diligent lead to profit.
Proverbs 21:5

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5. Fully Stock Your Emergency Fund

Work toward having three to six months of expenses in savings to cover you in the event of something unexpected. 

Without an emergency fund, you’ll likely have to utilize a credit card—which takes a while to pay off. However, with a fully stocked emergency fund, you can move past unplanned situations quickly.

Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.
Proverbs 6:6-8

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6. Get Debt-Free

If you owe money on your credit cards, pay them off fully at the end of each month. It might take a while, but it’s important to do—for your paycheck and for your peace of mind. 

The wicked borrows but does not pay back, but the righteous is generous and gives.
Psalm 37:21

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7. Be Generous

Tithing—giving the first 10% of your income to your local church—is a practical way to demonstrate putting God first in your life. Once you get in the habit of living with an open hand, generosity and giving beyond the tithe becomes not just something you do—it becomes who you are. 

The world of the generous gets larger and larger; the world of the stingy gets smaller and smaller.
Proverbs 11:24