Navigating Abundance and Scarcity test
Welcome to The Bible Money Journal, a brief for Christian professionals who want to learn more about God’s ways of managing money. In each edition, I share a verse, a story, and a money lesson to help you in your journey.
This brief is a resource for navigating the scriptures through the lens of financial planning and learning how to apply them in your life.
Let’s get started!
Genesis 41:29-36
29 The next seven years will be a period of great prosperity throughout the land of Egypt. 30 But afterward there will be seven years of famine so great that all the prosperity will be forgotten in Egypt. Famine will destroy the land. 31 This famine will be so severe that even the memory of the good years will be erased. 32 As for having two similar dreams, it means that these events have been decreed by God, and he will soon make them happen.
33 “Therefore, Pharaoh should find an intelligent and wise man and put him in charge of the entire land of Egypt. 34 Then Pharaoh should appoint supervisors over the land and let them collect one-fifth of all the crops during the seven good years. 35 Have them gather all the food produced in the good years that are just ahead and bring it to Pharaoh’s storehouses. Store it away, and guard it so there will be food in the cities. 36 That way there will be enough to eat when the seven years of famine come to the land of Egypt. Otherwise this famine will destroy the land.”
In this passage, we'll delve into the story of Pharaoh's dream and how Joseph interpreted it. The dream revealed seven years of abundant harvests, followed by seven years of severe famine. Joseph received wisdom from God on utilizing the season of blessing to prepare for the hardships ahead. Although Pharaoh’s dream was given for a specific situation in time, I believe there is much wisdom we can apply to our seasons of plenty and scarcity.
Now, let's explore practical strategies inspired by Joseph's story that can help us effectively navigate both seasons of abundance and scarcity.
Building Resilient Financial Foundations
When abundance comes knocking, Joseph's story teaches us the importance of saving and investing. During times of abundance, it's critical you create a solid financial foundation. Start by establishing an emergency fund to protect yourself from unexpected expenses or a sudden loss of income. This fund should ideally cover three to six months' worth of living expenses. Additionally, pay off high-interest debt as much as possible to reduce financial burdens and free up cash flow.
Once you’ve built a wall of protection from emergencies and cleared your debts, don’t forget to prepare for the more distant future when you may be unable to work. Regularly set aside a portion of your income for savings and long-term investments. Diversify your investments to minimize risk. Let’s talk more if you need guidance through these investment decisions.
Riding Out Seasons of Scarcity
In times of scarcity, having a well-thought-out financial plan can make a significant difference. Start by identifying areas of your budget that are essential vs. discretionary. This will help you identify areas where you can cut back during lean times. Your budget should include enough margin for savings. If you feel like your financial plan won’t hold up to a season of scarcity, consider where you could create additional income or if there are large items you could sell that are no longer adding value to your life.
By applying Joseph's principles of recognizing different seasons, building resilience, and making prudent financial decisions, we can navigate our own financial journeys with wisdom and faith. As a Christian financial advisor, I am here to walk alongside you, offering guidance and support as we work together toward your financial goals.
Leo Marte is a Christian financial advisor and CERTIFIED FINANCIAL PLANNER™. Abundant Advisors provides financial advice for Christians with convenient virtual meetings. Let’s talk if you are ready to make the next move.