While thinking through some issues relating to eating with self-control, I remembered some of my old Bible study notes about practicing self-control with money. The comparison between managing money and managing food is worthwhile to consider. So let’s start by looking at money management.
I am a tightwad. Before you get any crazy ideas about me, let me clarify that my definition of a tightwad is someone who cheerfully and systematically chooses when to spend or not to spend money in order to meet a financial goal. Please note that my definition includes purposely making decisions how to use money, which requires determining and setting short- and long-term goals, applying wisdom to the decision-making process, and practicing self-control with a good attitude. A tightwad is not the same as a miser who, because of his love of money, is stingy, greedy, anxious and bitter.
When we make plans and decisions, my husband and I start with our book of wisdom, the Bible. Here are a few of my favorite Biblical principles of money management:
- Give to the Lord – Proverbs 3:9-10
- Work hard; don’t be lazy – Proverbs 6:9-11; Proverbs 10:4
- Pay your debts – Proverbs 6:1-3
- Contentment; don’t rely on money – Proverbs 11:28; Proverbs 16:8
- Save for the future; invest – Proverbs 13:22; Proverbs 14:4
- Be generous – Proverbs 11:25; Proverbs 19:17
- Seek wisdom and righteousness – Proverbs 8; Proverbs 13:21
I am motivated to be a good and godly money manager because God gave us lots of practical wisdom in the Bible about it. God, the Creator of heaven and earth, gave people the responsibility to be good stewards of what He has given us. My family wants to be able to give generously to help others, but we cannot do that if we are burdened with debt. I desire to handle our family money wisely in order to receive praise from my husband and to be an encouragement to him. We also try to model wise money management to our children to show them the way they should go, too.
A tightwad is someone who cheerfully and systematically chooses when to spend or not to spend money in order to meet a financial goal.
In part 2 of What is a Tightwad, I will share my three practical tips to becoming a tightwad. Then we will make the connection between self-control with money and self-control with food. Do you see a connection yet?