A new year means new possibilities. You likely have set some goals for yourself about your spiritual life, your health, or your finances. Of course, setting goals is one thing. Changing your habits often proves more challenging.
Listed below are three financial goals to consider in 2019. Start with these goals and build off of them to address the specific needs of your family.
Goal #1: Give to Christ’s church.
God is a giver. Our own generosity is a pale imitation of His own. When we invest our financial resources in the work of His kingdom, it is a helpful reminder that God is the owner of all things. We are but stewards.
Set aside money every month to give to the church. Put it at the top of your budget. Treat it like an essential like your mortgage or transportation. Every year, we set goals for how much money we want to make or save. Do you have a goal for how much you want to give?
Make a goal for your charitable giving, whether it is 10% like Abraham (Gen. 14:19-20) or 100% like the widow (Mark 12:41-44).
Goal #2: Limit your expenses.
God is the sovereign Lord of all things but he has given us dominion as well. We can’t control every aspect of our financial lives. We don’t have control over interest rates, utility rates, or the price of gas. Many of us don’t even control our own salary. However, we are called to control what we can control, which is most of our expenses.
How do you limit your expenses? Create and follow a budget. A budget simply helps you see and direct how your income is allocated. It also makes sure you limit your expenses so they don’t exceed your income. There are plenty of tools online to help you create a budget. It’s not too hard to create a budget. It is more difficult to actually stay within it.
Goal #3: Contribute to your future.
One of the dangers when it comes to personal finances is only thinking short term. When you live in the tyranny of the urgent, it’s hard to think about what life will look like decades from now. However, your future self will thank you when you contribute to your retirement. Compounding interest helps your money snowball over time. Sow small seeds today with contributions to your retirement and reap large rewards in decades to come.
How much should you contribute? The first correct answer: anything. Seriously. This is where most people fall short. Because they are not in position to contribute much, they decide not to contribute anything at all. The second correct answer: more than you are contributing now. Unless you have been faithful in your contributions from an early age, there is a good likelihood you need to increase your level of contribution.
At RBI PCA Retirement & Benefits , we can help you limit your risk and plan for your future. Schedule a consultation with one our financial planning advisors.
If you have a church or Christian school staff of at least 15 people, we’d love to talk with you about setting up a meeting specifically for your staff. Please complete the Seminar Request Form and we will reach out to you.
About PCA Retirement & Benefits
We guide PCA pastors and ministry workers through the complexities of financial planning and employee benefits, so they and their families are able to live generously in every season of ministry.