I’m still having conversations with people regarding the recession that started in 2007 and ended in 2010 for a lot of people. There are people today, 7 years later still suffering from the “fall out” of that downturn in the market. There were some good people who lost their retirement savings or their fortune. I learned a lot during that time and I made some decisions about being in that place of fear and struggle. I started reading, researching and learning how to avoid the decisions that caused such harm to so many people. I studied the teaching of Dave Ramsey about dumping debt and how Romans 13:8 is good counsel. Check this out….
8 Do not owe anyone anything, except to love one another, for the one who loves another has fulfilled the law. (Romans 13:8 CSB)
I don’t know a lot of people who were not affected profoundly by the recession. I have seen many start to repeat some of the same behaviors that cost them severely during that time. I have also seen wisdom in others determined to not ever be that vulnerable financially again.
Paul gives Timothy some excellent instruction regarding wealth management. I’m trying to look at my money different than I ever have before. Check this out…
17 Instruct those who are rich in the present age not to be arrogant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy. 18 Instruct them to do what is good, to be rich in good works, to be generous and willing to share, 19 storing up treasure for themselves as a good foundation for the coming age, so that they may take hold of what is truly life. (1 Timothy 6:17-19 CSB)
According to research done by Forbes magazine, the poor in America live better than 95 percent of the world’s population. (June 1, 2013) I believe that with our wealth, comes responsibility. I think it’s critical to bring our money management under the authority of The Lord. Check this out…
9 But those who want to be rich fall into temptation, a trap, and many foolish and harmful desires, which plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil, and by craving it, some have wandered away from the faith and pierced themselves with many griefs. (1 Timothy 6:9-10 CSB)
Money is not evil. Money is a medium – it does the work of people in possession of it. I can use it to evil or I can use it to do good. I would be wise to grow in my management of money. It’s way too easy to spend and harder to earn and keep. Becoming aware of my money management skills (or lack thereof) is critical to handling it wisely and with a godly spirit. I do enjoy having extra money. I feel blessed to have learned some valuable lessons during the recession that I plan on implementing into my life for the rest of my life.