The 11 Godly Financial Advice For Young Couples
She just walked in, beautifully dressed in a white overflowing gown. She was followed by her husband behind her. OMG! Did they look awesome? Of course, they did. Anyone would have loved to be in their shoes at this moment. A little moment later, however, Camille was in tears. Why? You would ask. Her husband, Peter, had stormed out of the room, banging the door as he left without telling her how much they had gotten at the wedding.
I can feel her pain. Days turned into months, months, and years but Peter never seemed to care about finances in their home. They never sat to discuss, had no financial plans and I guess you can already imagine the outcome of their marriage. Consequently, their financial life was in jeopardy- a complete mess, and their marriage was threatened. If only they knew, If only they knew!
Just like in the story above, there are many couples who are faced with this dilemma. We can well attest to the fact that many marriages today are destroyed due to financial crises. There will always be the need for food, shelter, clothing, education, and other necessities. All of these are purchased with money. In fact, the institution of marriage requires and cannot operate, to a large extent without money. If we understand this, then we, therefore, know that it is of paramount importance to learn about money right from the foundation of marriage (Ps.11:3). We are to learn not only how to make it, but how to spend it wisely and also build a sound and solid financial future from it.
The 11 Godly Financial advice for young couples is geared to help young couples know their stance in the world of finance and be on a path to a sound financial future. Let’s get started having said that.
1) SEEK AND LIVE FOR THE GIVER OF WEALTH:
The richest man to have ever roamed the earth was blessed with riches by God- the giver of wealth (1 Kgs 3:11-13). He was also endowed with the wisdom to sustain, maintain and multiply it. Anyone who truly desires to be financially sound must be in tune with God for He owns everything and gives to all at His own will (Ps. 24:1). God blesses us with riches if we obey His commands. Ask God for wisdom, He said we should (James 1:5). Also ask for the guidance, leadership, teaching, and direction of the Holy Spirit concerning your finances as a couple. He is a faithful and sure guide. If you obey Him, you would be out on the right path.
2) FOLLOW GOD’S BLUEPRINT FOR FINANCES:
God’s Word is our blueprint and it has the answer to every question we may possibly ask in life including finances. The richest man in the world wrote books that are in the Bible. Amazing right? Learning from him would not be a bad idea at all. From carefully observing how the ancients used and managed money, a lot of lessons can be learned. The Word of God is rich with financial principles including tithing, giving, proper management of funds, hard work, planning, and a host of others on which some modern-day principles stand (Lk 16:10-12, Mal.3:10, Prov. 22:4). If a young couple wants to grow financially, then they must be obedient students of the Word (Josh. 1:8).
3) SET FINANCIAL GOALS:
Back then in school, before a session starts, I would write all that I planned to achieve that session. If my goal was to achieve a 90% average, I would work for it wholeheartedly. Just like I did, to be financially sound, I would advise that a young couple sit together to discuss and set financial goals for a specified time frame- weekly, monthly, or yearly as the case may be. Their needs should be in the order of priority and after they have been set, they should be written and prayerfully acted upon (1 Chr. 28:19). It can be hung on the wall in the room or set as a reminder on their phones for easy reference. This will serve as a guide and propel them to succeed financially.
4) MAKE A BUDGET:
From my little knowledge of Accounting, I know that if expenditures exceed income, then that person or company is running at a loss. This is the scenario for some of our young couples. How can we remedy it? One of the simple ways I would recommend is making a budget. A budget is simply a plan showing the amount of money that goes out and comes in. If a couple creates a budget through proper planning and is willing to stick to it, then frivolous spending will be reduced and extravagance limited in that home thereby setting them closer to their financial freedom.
5) BE SELF-DISCIPLINED:
Naturally, the mind acts on impulse and is inclined to do its free will. Consequently, due to that influence, wrong choices can be made even concerning finance. Because there is a need to control oneself, God has given it to us as a fruit of the Holy Spirit (Gal 5:23). Self-control will make one jump out of bed early in the morning to work. It will make one see a new pair of shoes in the store but leave it because it has not been budgeted for. It will make one not buy that luxury sports car simply because his/her friend did. We all need self-control, especially as young couples on our way to financial freedom.
6) HAVE MEANINGFUL FINANCIAL DIALOGUES:
From getting to know each other better, the ‘spender’, as well as the ‘saver’ in the relationship, will be known. The couple must be open and honest with each other. With this in mind, it will be of greater value to entrust the funds to the person who saves more and does not spend recklessly. Also, things like whether they are to operate personal or joint accounts should be discussed. Together, they should sit to discuss how each one of them intends to use his/her finances to handle the needs in the home, that is, responsibilities should be shared amongst them and there should be mutual consent by them to avoid ‘had we known’ later on in the future (Amos 3:3).
7) BE DILIGENT AND HARD WORK:
Prov.10.4 says, “Lazy hands make a man poor, but diligent hands bring wealth”. No one ever gets rich by sleeping or slouching. The Bible uses the word, ‘diligent’ which means, hardworking, determined, and persevering. If a couple intends to build a sound financial future, then they must be diligent. Being idle, complaining about the economy, or even too much sleep will not help a couple who wants to double their paycheck. The Lord rewards everyone according to what they do, if you sleep, your reward is poverty, if you work with diligence, then your reward is wealth (Prov. 6:10-11, Gal. 6:7). Hope we get this?
8) MAKE SAVINGS AND INVESTMENTS (Ex. 16:23-24, 2 Cor. 12:14):
There will always be the ‘rainy days’ in marriage. Thankfully, we have an umbrella- savings. As a young couple, it is of great necessity to plan beforehand for unforeseen needs and emergencies that may arise. Savings is a habit that must be imbibed by a couple who desires a strong financial future. In the future, there will be kids, they will need a house, a car, and even need to pay hospital bills. If they plan early and save, then the better for them because when the rain comes, the umbrella will be quite handy and helpful. We should also invest in the right ventures (Eccl. 11:6).
9) DO NOT BE A SLAVE:
As a couple who may have just entered into marriage, there may or may not be some outstanding debts incurred especially during preparations for the wedding. The Bible urges us to pay our debts and do this on time (2 Kgs. 4:7, Rom.13:7). Debt is just like a form of bondage. If there are outstanding debts, then a young couple should sit together, discuss these and see how they can offset these debts. In the long run, this couple may need to borrow loans for some major projects. I would advise that before they borrow, they should have a detailed plan for recompense and if there is not, they should not borrow at all. No one wants the drama of an angry debtor!
10) EMULATE FINANCIAL ROLE MODELS:
No man is a repertoire of knowledge. I’m still yet to see a man that knows it all. The Bible in Prov.15.22 says, “Plans fail for lack of counsel, but with many advisers, they succeed.” For a couple who desires to be financially sound, I would advise that they take and heed advice from well-meaning individuals, especially of God’s household whom they have observed financial success. Some mistakes can be avoided and milestones achieved through these pieces of advice. There are books, websites, audio, and videos that are rich in financial wisdom. Ignorance kills so we have to be intentional about reaching out to these and implementing what has been learned.
11) DO REVIEWS AND EVALUATIONS:
After any exam is taken, there is usually a report card issued to show the student’s performance. Also, for a young couple who desire a sound financial future, they have the responsibility of coming back to review all they have done after the specified period they have set and ask themselves questions like, “Were we able to achieve our goals? Did we stick to our budgets? Were we able to save? Did we incur bad debt? What was our spending like? What was our progress like this year?”. These and many other questions will help them check their progress, make necessary adjustments, and plan better for the next period.
Finally, money and wealth are gifts from God and are to be enjoyed by us all. Christ died that through His poverty, we might be rich. It is also God’s will for us to lead productive lives, especially as a couple because the future of others (our kids) depends on us (Eccl. 5:19, Tit. 3:14). We cannot lead these lives if we do not have a basic foundation and knowledge about our finances. With all these said above, even though there is still more to write, I believe a young couple can build a sound financial future to a reasonable, commendable level.
I hope the read was worthwhile. But tell us, did you learn something from the 11 Godly financial advice for young couples?