Happy 4th of July! Are you resolving to become financially independent? Or falling under the bondage of money? It’s one or the other. Either you control your money or your money controls you. Today we’ll help you determine which path you’re on. 
<ul><li>What exactly is true financial freedom? It means you have choices … options. When you have control over money, you have a greater ability to decide where and how you live. In some cases, even where you work, and how much you work.</li><li>Financial freedom also enables you to be more generous. Folks often say they’d love to give more to God’s kingdom, but they just can’t afford to. The more you control the money flowing through your household, the more generous you can be. That’s financial freedom. </li><li>HOW DO YOU KNOW WHICH PATH YOU’RE ON? </li><li>Obviously, the biggest signpost on the road to financial bondage is debt. The greater your debt, the less free you are. </li><li>Proverbs 22:7 says it all, “…the borrower is slave to the lender.”</li><li>That’s because when you’re in debt, you’re really working for someone else, not yourself and not God. The more you have to pay out each month to service your debt, the less freedom you have to use that money in other ways, like serving God more fully.</li><li>Now, unfortunately, debt is just one form of financial bondage. There’s another form that’s more difficult to recognize. You may not have any debt at all. In fact, you can be rolling in money and still be a slave to it.</li><li>We’re talking about the mindset that material things will make you happy and content. But when you think that way, things come to own you, not the other way around.</li><li>At some point you may start to realize that money isn’t freeing you, it’s enslaving you and keeping you from fulfilling God’s purpose for your life. In fact, although the Bible doesn’t say there’s anything inherently wrong with wealth, it has clear warnings about our attitude toward wealth. It comes down to a heart issue.</li><li>First— you think so much about money that you have no peace with God. Your focus is “day to day” rather than eternal.</li><li>Another sign that might be easier to spot is that you can’t give as generously as you would like or think you should. An opportunity comes along to be more generous, but you just can’t make yourself do it. </li><li>Now, we’ve probably all experienced that at some point. But it becomes financial bondage when it happens to you over and over and begins to weigh on your heart. God is trying to tell you something.</li><li>Here’s another danger sign: a lack of contentment. You always want bigger, better, faster. You’re not content with God’s provision— you crave more. When you think that way, it doesn’t matter how much money you have, it’ll never be enough.</li><li>And here are more tangible, outward signs of financial bondage. You might constantly argue with your spouse about money. Most couples disagree about money occasionally, but when it becomes a habit, it’s a sign that money is controlling you.</li><li>Another outward sign relates back to debt. If you don’t pay off your credit card balance in full each month, you’re in financial bondage. </li><li>WHAT CAN YOU DO ABOUT IT?</li><li>Obviously, you have to stop charging things, get on a budget, and start paying down your debt. We have coaches that can help you do that at MoneyWise.org. You can also download the free <a href="https://app.moneywise.org/">MoneyWise app</a>. It has three different ways to set up a budget, so there’s something for everyone.</li><li>But if you have the other form of financial bondage— with plenty of money and possessions but no peace— try giving more. Giving breaks the power that money can have over us.</li><li>And keep in mind, underlying all of God’s financial principles is His desire that we remain free to serve Him.</li><li>Our founders often looked to the Bible for inspiration, and God’s Word is found in one of our greatest symbols of freedom. The Liberty Bell is inscribed with Leviticus 25:10, “Proclaim liberty throughout the land … to all its inhabitants.”</li><li>Those are some things to remember as we celebrate freedom today.</li></ul>On this program, Rob also answers listener questions: 
<ul><li>What’s the best way to build a high credit score? </li><li>Is it wise to invest largely in “growth” stocks?</li><li>What are the rules surrounding drawing a spouse’s Social Security benefits? </li><li>When does it make sense to pay for major home repairs rather than selling? </li><li>How can you get the best possible deal on a late-model used car without financing?</li></ul>RESOURCES MENTIONED: 
<ul><li><a href="https://www.ssa.gov/">Social Security administration</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

FaithFi

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

Are you resolving to become financially independent? Or falling under the bondage of money? It’s one or the other. Either you control your money or your money controls you. On this MoneyWise Live, Rob helps you decide which path you’re on.

True Financial Freedom

FaithFi | Jul 4, 2022

Show Notes

Where Faith Meets Finance

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