Manage Money in Midlife and Still Have $$ in Your Pocket - EncouragementMama.com
Hello Encouragement Sisters,
Managing money in midlife, while still having $$ in our pockets, is no easy thing! It seems the older we get, the more money demands we experience. There are kids who are entering college, mortgages to be paid off, and health expenses we don’t want but have anyway.
Who can relate?
As I feel the pressure of managing my money well, while being honorable to God and having a few extra $$ in my pocket, I realize I need a new plan. For the first time in a long time, I’m determined to refocus my money managing efforts, and get ahead financially. Here’s my plan of attack:
My first plan of attack is to change my thinking.
“And my God will meet all your needs according to his glorious riches in Christ Jesus.” (Philippians 4:19)
When we are overspending, we often lose sight of what is needed vs. what is wanted. Things that seem like needs, such as T.V. cable, new cell phones, specialty coffees or ump-teen pairs of boots, aren’t needs at all.
On the flip side, there are legitimate needs such as money for the electric bill, groceries, and winter coats. In our media-driven world, I’m afraid we’ve lost sight of what our true needs are. And I, for one, want to gain some clarity in this area.
So, my first plan of attack will be to change my thinking, by asking myself, “Do you need this or want this?” If the expense is a true need, I will trust that the Lord will provide for it–without anxiety or guilt about the purchase. However, if it’s a want, I will be honest about it and commit it to God, asking for His wisdom and direction.
Do you struggle with buying out of want instead of need? Be honest with yourself and with the Lord. It isn’t sinful to have wants, but it can be destructive to impulsively buy without addressing the true need.
My second plan of attack is to change my devotion.
The truth is, my heart is devoted to the Lord. I love Him. I need Him. I seek Him. But there are distinct times–more often than I’d like to admit–when I am serving money more devotedly than I am serving God.
Does this ring true for anyone else?
“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” (Matthew 6:24)
Here are the ways we sometimes serve money over God:
- We know in our hearts we shouldn’t be making the purchase, but we do it anyway.
- We spend more time studying our budgets than studying the Word of God.
- We constantly worry about money and lack peace in our finances.
While the above things are easy to do, we must remember Who we are serving. God is our ultimate Provider. We can trust Him. Money will fail us, but God will not. Here is an excellent article called 3 Signs That You’re a Lover of Money. (So convicting!)
Instead of turning our devotion to material things, or the want thereof, let’s devote ourselves to the One who provides the increase and allows the decrease.
My third plan of attack is to have a doable plan and stick to it.
Part of the problem of forming a budget or financial plan is the suffocating restrictions we put on ourselves. In our attempts to spend less, save more, and “buckle down,” we quickly hit a wall of impossibility.
Have you felt overly restricted by your budget?
I still remember the Christmas when our oldest boys were younger and I literally felt like we didn’t have 2 pennies to rub together. I had become so consumed by money worries, I felt trapped. The truth was, there was room in our budget to celebrate the birth of the Savior in a meaningful, memorable way. But I had convinced myself we couldn’t celebrate because our budget was too restrictive.
I now know that my financial plan has to be doable. It has to have margin–even if it’s the narrowest of margins. And most of all, I have to have grace for myself and my family.
Therefore do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble. (Matthew 6:34)
Sisters, a lack of grace and peace over our finances does one of two things:
1. It cripples us, leaving us feeling trapped.
2. It sends us into a spiral of spending what we don’t have, in order to escape the feeling of being trapped.
Instead of backing ourselves into a financial corner, which will inevitably lead to a “fight or flight” mode, let’s allow grace and margin to manage our finances well, while leaving a few extra $$ in our pockets. (Check out my post from a few years ago, called 16-mini Steps You Can Take to Save Money in a Big Way.)
My fourth plan of attack is to slow down.
For some reason, the sentence “Slow down to get ahead” has been mulling over and over in my head. I’ve prayed about it, and realize that I need to remain in-step with the Spirit in every area of life–even my finances. And one way of doing that is to slow WAY down.
Slowing down financially means to…
Think before I act.
Pray before I purchase.
Listen to God before I listen to my feelings.
Resist before I cave.
Rest in the peace of His provision.
If you are always racing ahead to make more money, but feel like you are falling short, try slowing down and getting in-step with the Holy Spirit. He will lead you in the way you should go and help you give, save, and spend accordingly.
Sisters, wherever you find yourself financially, during this midlife season, I want to encourage you today. Seek God. Rest in Him. Trust His provision.
And before you spend, ask yourself these questions:
Do I need this or want this?
Am I more devoted to money or God at the moment?
Is my financial plan doable or too restrictive?
Am I in-step with the Holy Spirit, or running ahead in my spending?
I pray this post is a help and encouragement to you, as you manage midlife finances wisely and within the Lord’s provision.
