Finances

Here's a post that I originally wrote a few months back, and just never posted it.  Thanks for reading, and I hope you enjoy!

This last year has been an incredible year of growth in Christ for me.  I had my first wedding anniversary a couple of months ago, and have a salaried position as a resident in internal medicine with a full year of experience under my belt.  In this last year I have witnessed the growth and change of my local church, with a transition to a new pastor over this last summer.  All through this year, I have studied God's Word, sometimes not as often as I feel I should, read numerous books and watched many video-based curriculum for Christians.  One thing that never ceases to amaze me is the fact that culture and Christ seem to always be at odds with each other.  In fact, I remember reading early on that the bible will always contradict at least one aspect of every culture on earth; if it did not, that culture would be perfect, and nothing on earth is perfect. 

I have discovered over the last year that nothing we assume as reasonable, rational, or even morally correct can be taken at face value.  This discovery comes mostly from just reading the bible on a regular basis, along with the other Christian material I've read, watched or listened to.  I'd like to talk about some of the different discoveries I've made along the way, in a series of instalments, and perhaps challenge your thinking on some aspects of your own life, or at least the life of a 'regular member of society.'

Finances

Western society has a completely backward view of finances and how to manage money.  It wasn't until digging into what God has to say about financial matters that I realized that my own assumptions about money and fiscal responsibility were off the mark.  There is a portion of the New Testament, where Jesus talks about money, and this is what he has to say:

"No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money."

- Luke 16:13 NIV

As Andy Stanley points out in one of his sermons, when Jesus identifies two masters, he does not talk about God and the devil!  He puts God and money in direct opposition to each other.  That doesn't mean that money is a bad thing, but anytime we take a good thing and make it an ultimate thing, we are slaves to that in which we put our hope.  In this case it's money, but this principle applies to anything that we are capable of idolizing, whether it is money, sex, success, beauty, acceptance, a nice car, love, a relationship, children, and the list goes on forever. 

So how do we become slaves to money?  The book of Proverbs has a great answer to that question.  Keep in mind, that the wisest man aside from Jesus, ever to walk the earth, wrote the book of Proverbs.  He said:

"The rich rule over the poor, and the borrower is slave to the lender."

-Proverbs 22:7 NIV

So the question is, who in our society is debt free?  Who has not borrowed money to be able to 'afford' that which their income at the present time could not provide for?  Andy Stanley points out in his sermon series titled "Balanced" that there was a time, not in the distant past, when borrowing money was something that only poor people did, because they actually couldn't afford to buy the item in question.  Somewhere along the way, though, being in debt became an indication of success; after all, a bank wouldn't loan you much money if you were poor, but the richer you are, the more you can borrow.  So we get caught up in a materialistic rat race, where a Honda Civic is beneath your status if you can "afford" a Mercedes, and taking public transit is unthinkable.  A two-bedroom home isn't good enough because the bank tells you that you can "afford" to buy a four-bedroom home, despite the fact that it would require 40% or 50% of your monthly income just to make the payments.  Oh, and that 52 inch flat screen television?  Don't worry if you don't have $1500, we'll let you take it and then take 2 years to pay it off.  But don't misunderstand me, for I don't want to come across as a hypocrite.  The average debt for a medical student when they've finished their 4 years of undergraduate training is $125,000, an amount that I somewhat surpassed.  My wife and I spend approximately 20% of our net income on debt repayment, and at least 2/3 of that is interest.  The bulk of the debt that I accumulated was primarily attributed to a sense of entitlement, stemming from the fact that I had been a student for so long, that now I “deserved” to have a few nice things.  One of the first things I ever bought once I was given access to what I lovingly refer as "fake money" was a $1200 television - a television that I currently struggle to use as little as possible.  I wish God had sat me down and talked to me about finances before now - or rather that I had not hardened my heart so that I would not listen.

The effect of all this is extraordinarily far reaching.  The United States economy went into a recession when the housing market collapsed, and the straw that broke the proverbial camel's back is said to be the "subprime loans" that were meant to allow poorer people to get a mortgage, but at a higher rate of interest.  Here in Canada, the industry that has always made my stomach turn is the payday cash advance industry, which allows a person to cash their cheque before payday.  The catch is that one must sacrifice a portion of their income to take advantage of this service.  It never made sense to me that someone would go to a business to get cash in advance of payday, in order to pay bills that they can't keep up with in the first place, and end up with even less money at the end of the month.  The whole system should be outlawed, for it is a system that exploits the weakness of their clientele. 

The issue of money really revolves around society's perception of what money is actually for.  Again, Andy Stanley gives us great insight into God's word when he points out a great definition of greed.  He states that greed is "The assumption that everything I have is for my consumption."  Even Christians have a tight-fisted approach to money, tithing 10% and telling God "you have your share, the rest is mine to do with as I please!"  The problem is that God does not tell us that everything we have is ours, and that he asks only for a percentage.  What he does tell us is this:

"To The Lord your God belong the heavens, even the highest heavens, the earth and everything in it." 

-Deuteronomy 10:14 NIV

So, for the Christian at least, 100% of what we have in our possession belongs to God.  Tithing is not a matter of giving 10% of what is "mine" and keeping the rest for my own consumption.  It is a matter of making it a habit of contributing an amount each month of every year, sometimes more, sometimes less, but always giving as much as God directs us.  And sometimes that means loving our neighbour, even when it hurts us, and we have to sacrifice our lifestyle so that we might bring life to others.  After all, we find in God's word that:

"If anyone has material possessions and sees his brother in need but has no pity on him, how can the love of God be in him?"

-1 John 3:17 NIV

Remember also that we all have a deceitful heart (Jeremiah 17:9), and know that pretending not to see, or simply not looking, does not exempt us from having to live as God expects.  We all know that we have brothers and sisters in need, and that we would be just fine with less material possessions in order to reflect to those people the love that God has shown us.

So, how do we manage to live right with God in a culture that is greedy by definition, that consistently as a society spends more than it makes in a month or year? We remember the words of Jesus:

"For where your treasure is, there your heart will be also."

-Matthew 6:21 NIV

If you want to know where your priorities really are, and if you're a Christian and you wonder if you're really a disciple, you look at where your money is going.  I found out over the last couple of months that my household was spending as much on food in a month as we were on debt repayment, and almost twice as much as our monthly rent.  Half of what we spent on food was for dining out or fast food.  Until we started keeping track of where all our money was going, we had absolutely no idea.  Even after I had spent a month keeping track of all our expenditures, when I told my wife how much we had spent on restaurants, she exclaimed "There's no way we spend that much!"  It wasn't until after I sat down and showed her the spreadsheet that her next remark was "Ok, now I'm a believer."  The thing is, we were far over budget on both restaurants and groceries, but chronically under budget for savings and charity. 

I have struggled with my weight and the consumption of food (especially junk food) for a long time.  At one point I weighed almost 200 lbs.  While I don't weigh near that anymore, I still struggle with food, and the most difficult is fighting the sense of entitlement that comes with being on call in the hospital.  It's easy to work for 24 hours straight and then stop for an ice cream on the way home because "I deserve it."  Willpower just wasn't cutting it.  More recently though, my resolve is strengthened by the fact that I know that if I buy that ice cream, or that amazing pumpkin spice latte, or spend $15 per week on coffee because I'm too lazy to make my own, I won't meet my goal for charity.  If I don't meet my goals for charity, then I haven't been a good steward with what God has given me, and God will know that since my treasure has gone to my stomach, my heart lies there and not with Him.  While I know we will all disappoint God sometimes, the desire not to be wilfully disobedient is a powerful motivator to be financially prudent.

Consider, then, the purpose of having money at all.  It isn’t to buy ourselves the necessities of life; after all, we are clearly told that God will provide us with everything we need.

“Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Can any one of you by worrying add a single hour to your life?”

“And why do you worry about clothes? See how the flowers of the field grow. They do not labor or spin. Yet I tell you that not even Solomon in all his splendor was dressed like one of these. If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you—you of little faith? So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”

-Matthew 6:25-34 NIV

A bit of a long quote, I realize, but so beautifully emphasizes that God is our provider, and that no amount of our own striving will ensure that we always have the things we need.  So if the purpose of having money is not to provide us with necessities and sustain ourselves by our own works, what is the point?  One of my favorite quotes from the bible explains:

“Anyone who has been stealing must steal no longer, but must work, doing something useful with their own hands, that they may have something to share with those in need.”

-Ephesians 4:28 NIV

Luke also wrote in the book of Acts, we are also told something that most people partially recite around Christmas time:

“In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: 'It is more blessed to give than to receive.'”

- Acts 20:35 NIV

Based on these verses of scripture, we are supposed to work in order to have something to share with those in need.  As an incentive, we are told it is more blessed to give than to receive.  We are also reminded that we are to first seek God’s kingdom and his righteousness, and the necessities of life will also be given to us. 

Western society has a proclivity to assume that everything we earn is for our consumption.  We spout niceties around Christmas time and tell our children that it is better to give than to receive, and then demonstrate throughout the rest of the year that we’d rather give to ourselves than other people.   In general, our culture tells us that more stuff will make us happier, and yet we know from observation and many of us from personal experience that money does not bring happiness.  In one of his sermons, Timothy Keller, using the Myth of Sisyphus as an example, puts it this way: “Hell is an activity from which nothing good ever comes except the need to do it again.”  Buying more and more material items brings nothing good, only the need to buy something else. 

The solution then to our money problems is twofold.  First, we must break from the imposed mould that what we have in our possession is for our own consumption.  Andy Stanley in a podcast entitled Enemies of the Heart states that the remedy to greed is to write a big cheque, bigger than we’ve ever written before, and give it away.  It takes a decision to do something that greed would encourage you not to do, a decision to use what you currently have to help someone else rather than waiting for “a little extra” to come along so that you can give it away.  Second, we need to be good stewards of what we have been given, and create budgets, spending plans and track our spending so that every purchase is a conscious decision.  Knowing where our money is going and how much money we have left in all of the little pots that add up to make our budget is paramount.  Only by knowing where our money is going and how much we spend on everything can we make adjustments in our spending and saving pattern to avoid going into debt.  Last, don’t buy what you don’t have the cash for.  The only things I can think of that might (I emphasize that word) fall outside this category would be a house and education, but even those things could be paid for in cash if we were serious enough about avoiding debt.  What it would mean is living with our parents for longer, getting part-time jobs while we’re in school, and not living as if we’re entitled to all the luxuries that life has to offer.  Of course, our culture would encourage us to do everything exactly the opposite. 

In my own life, I started out by buying a vehicle that I could afford the purchase price but not the regular upkeep.  I didn’t budget for my tuition, and so when that came up, I couldn’t afford to keep my vehicle going and then had to run to my parents for a loan.  I continued on with my poor spending habits without revisiting my financial plan (which was non-existent).  Next I got a job after my undergraduate degree that paid minimum wage, and used my line of credit to buy great outdoor clothing at amazing discounts because I worked at an outdoor outfitting store.  The following year I got into medical school and obtained the proverbial professional student line of credit.  This seemed like the holy grail at the time, and my first purchase was a $1200 flat screen television.  I also moved out of my parents’ house, and got a debit card that was directly connected to my line of credit.  So now, after 8 years of undergraduate education, with a year between each degree, I owe more than the average medical student debt of $124,000.  Le sigh.  I have never before been a good steward of the money I’ve been given, and have worked myself into debt primarily due to my sense of entitlement, which was only recently revealed to me as being such.  In retrospect, I could have stayed under my parents’ roof a while longer, I could have done without a vehicle, and I certainly didn’t need to buy a frivolous television. 

Now, I have a spending plan and a budget.  I know exactly how much of my savings is for which purpose, our bills are arranged so that we never overdraft, and we have a plan for meeting our charitable donations goal.  One of the startling things that we realized was that when we budgeted and planned for all our expenses, we would need about $500 per month more than we currently make.  So my wife and I have decided that we need to sell my vehicle in order to reduce our expenses, and put us into a positive balance.  Sometimes being financially responsible means taking the bus and walking to work, instead of paying a second vehicle payment.

So what are you doing with your money?  Do you give any of it away?  Do you spend it all on yourself, and the things you “need?”  Do you even know where it all goes?  Being wise with your money and simultaneously letting go of materialism are definitely first steps toward true peace and happiness.  Remember, no one can serve two masters; you cannot serve both God and Money.