BLESSING OF FUN MONEY

By: Dennis Harworth

As the Christmas cheer has faded into the month of January, the bills from credit cards become accusing reminders of December’s excess.  With a sense of dread, the bill envelopes are slowly opened.  The numbers inside quickly replace any remaining holiday warmth with the sober reality of the consequences of festive overspending.  Unfortunately, this is not the first time.  This seems to happen every year only with the credit card debt deeper than the year before.  Don’t you think it is time to change something?

          Would you like to have $500 to spend next Christmas any way or on anyone you want to – guilt free?  Of course you would.  I call this $500 “fun money” and it is truly freeing to be able to spend it without going any farther into the red.  Plus, you will not be paying more of your hard-earned money in the long run because of the interest charged from a credit card.

          This can happen if you start in January and save only $10 a week for the next 50 weeks.  Let me suggest opening up a separate savings account with the highest interest rate possible.  Have the $10 automatically deposited every week from your paycheck into your savings.  (If you get paid monthly or every two weeks, adjust so the total is $40 for the month).  You can do this!  It might take altering some spending habits, but it is totally doable.  Here are some suggestions.  If you often eat lunch out, bring a lunch once a week from home instead.  If you buy coffee out, brew it at home, or reduce the number of snacks and soda you buy.

          The common excuse not to save versus using a credit card is that the minimum monthly payments are affordable.  Let’s take the same $500 dollars charged to your card from Christmas shopping.  With the average credit card APR of 22%, and the minimum monthly payment of $20, (without any new charges added), it will take roughly 3 years to pay off.  In addition to the length of time, it will cost you $150-$180 dollars extra in interest.  By doubling your monthly payment to $40, it will still take fourteen months to pay it off with $60 in interest–as the vicious cycle continues.

          Saving instead of charging will make spending fun.  What is even better is that God will command a blessing on your savings accounts (storehouses) (Deuteronomy 28:8).  He will also bless you by diligently obeying His Word to keep out of debt (Romans 13:8 AMPC).  It will be so worth the effort when you are not stressed and depressed about the credit card bills.  Worry and anxiety will no longer cause sleepless nights and you will be money ahead from not paying interest.  So, don’t delay in starting to save as little as $10 a week.  You can use this savings plan for any large purchase or expense.  Do your part and then trust our faithful God to do His part by keeping His Word.  You will then be able to spend the money you saved - freely and guilt free as you so richly enjoy the BLESSING OF FUN MONEY!