Wise Stewardship in the Face of Recession

Here are some suggestions as to what we can do in the face of recession. Let's grow this list - email our own suggestions to this list: click here.

Work on getting out of debt - rather than going deeper into debt. It may require major life changes.

• Proverbs 6:6-8: "Go to the ant, O sluggard, observe her ways and be wise, which, having no chief, officer or ruler, prepares her food in the summer and gathers her provision in the harvest." God teaches us the biblical principle of not spending everything we have, but saving for future needs.

Be very conservative in your own spending.

• Reduce your Christmas spending. (And at the same time, convert your shopping energy into celebration energy. Celebrate the season all month by attending free or low-cost Christmas activities, by creating points of celebration at home or with friends, etc. You might just find that the celebration is better than the gifts!)
• Postpone that big family vacation and put the money into savings. You can always spend the money after the economy turns.
• Drive the old car one more year.
• Internet, cable and phone service: there's a good chance you're buying more features than you need. Can you drop down to basic cable? Have you checked your Internet service fees lately? Do you have both a cell phone and a land line? Could you drop the land line?
• Buy store brand groceries. You can save 20% to 50% buying store brand items - especially items where there is no quality difference, such as paper and plastic goods, frozen fruits and vegetables and spices. (Or talk to the grocery savings guru, Kate Duff, for her top tips.)
• Buy generic prescription drugs. They sell for a fraction of the cost of name brand drugs, but the FDA certifies that they contain the same amount of active ingredient as the name brands. Many of the big chains are selling a month's supply of hundreds of generic prescription drugs for only $4, without an insurance plan. That's tough to beat.
• Eat out less. Invite friends over for a pot-luck dinner rather than meeting them at Chili's.

Consider how you can prepare to help those who lose their jobs.

• Help them find another job through your network of friends.
• Send them some gift cards for the grocery store or the gas station - or maybe even offer to cover their mortgage for one month.
• Clean out those spare rooms so you could provide shelter for a church family or a friend in need of housing. If jobs are lost, it could result in homes being lost. Would you be willing to share your home?

Now, as always, is a great time to invest in God's economy rather than the world's economy.

 

That is an investment that has guaranteed rewards for all eternity. Village Bible Church is in a financial crunch, as are most ministries around the globe. Prayerfully consider where in God's economy He would lead you to invest. How can we build God's kingdom rather than our own?

Pray. Above all, let these times drive you to God and to His Word. Seek first the Kingdom of God!