It’s human nature to be concerned about having enough, but would you know it when you get there?
It’s a question we don’t ask ourselves enough…how much is enough? We have a great story in the Bible that gives us a clue, and Dr. Kelly Rush joins us today to talk about it.
Dr. Kelly Rush is a Professor of Finance, Department Chair, and Financial Planning Program Coordinator at Mount Vernon Nazarene University in Ohio.If you’re unfamiliar with the concept of "lifestyle creep," it’s where individuals tend to spend more on lifestyle comforts and luxuries as they earn more money. For example, a college student on a Taco Bell budget may progress to eating at Panera and eventually to dining at more expensive restaurants like the Cheesecake Factory as their income increases.
Lifestyle creep isn't limited to dining choices. It affects various aspects of life, including vacations, clothing, entertainment, and cars. For instance, a high school student might start with an old Ford Taurus, but they may drive a luxury car like a Mercedes or BMW by their peak earning years. This progression happens gradually and can lead to significant lifestyle changes over time.
Increases in lifestyle spending can be healthy and motivating but can also be a slippery slope if left unchecked. It's essential to monitor our budgets and hearts to avoid falling into the trap of excessive spending.
Lifestyle creep is fundamental to the human condition and not just a result of cultural norms. There are parallels to the biblical story of Lot, who progressively moved closer to the affluent and corrupt city of Sodom, illustrating that the desire for more is a timeless human trait.
Lot's story in Genesis 13 shows how he chose the greener pastures of Sodom for greater financial gain, eventually becoming influential in the corrupt city. This progression highlights the dangers of prioritizing wealth and lifestyle over spiritual and moral values.
While Sodom is often associated with sexual sins, Ezekiel 16:49-50 reveals that their iniquity also included arrogance, gluttony, idleness, and neglect of the poor and needy. Wealth gave them a false sense of superiority and security, leading to their downfall.
To avoid the pitfalls of lifestyle creep, it’s crucial to set financial finish lines—real dollar limits on spending that help define "how much is enough." These limits can be for lifestyle expenses and assets, ensuring that any financial blessings beyond these limits are used to bless others.
Setting financial finish lines increases giving and sharing of the Lord's abundance. As Paul advised in 2 Corinthians, giving should be decided in one's heart and done cheerfully. Establishing these limits helps align our financial decisions with our values, creating greater joy and purpose.