Several years ago I preached a series on financial stewardship. Members of the congregation shared advice given to them about money. I’ve listed a sampling of their fiscal wisdom below.

Do not spend more than you make each month.

Credit cards should be a convenience only. If you can’t afford to pay off credit cards at the end of the month, then don’t charge it!

If you make $1, don’t spend $2!

Watch the pennies and the dollars will take care of themselves.

Compounding interest is a great thing! Learn it, love it, live it.

“Income 20 shillings. Expenditure 19 shillings and sixpence. Happiness. Expenditure 20 shillings and sixpence. Destitution.” (Charles Dickens)

Never co-sign a loan or loan money and expect to get it back. Look at it as a gift instead. If you’re not prepared to give the money as a gift, then don’t do it!

There is nothing wrong with being broke, as long as you live that way.

If you can live without it today, you can live without it!

A fool and his money are soon parted

Perform plastic surgery on yourself and your spouse.  (Dave Ramsey)

Our income should be divided three ways: 10% to God; 10% to savings, and 80% for everything else.

If you have an option to directly deposit money to a savings or retirement account, then DO IT!  It is as if you never make the money so you really don’t miss it.  If you actually have to move the money yourself to savings or a retirement account, it sometimes doesn’t make it.

Don’t use your credit card for a month.  This will get you in the habit of saying “NO” to unnecessary purchases.

When you do get a bonus or raise, use the FULL amount to deposit to savings or pay off extra on a car, etc.  Do not celebrate by purchasing something.

Baby Jesus only got 3 gifts for Christmas! Our children can do with less.

Tithe – God expects it, the Bible tells us to do so, and you will be amazed at the difference in your life when you do so!

Determine a dollar amount (for example $100) and do not make purchases exceeding that amount without first discussing them with your spouse.

Think about how many hours you have to work to earn the money before you make an extravagant purchase.

Make all you can, save all you can, and give all you can.”  (John Wesley)

Life is tough, but it’s tougher if you’re stupid!

The most important financial lesson is to create a budget for paying bills, saving money, and the cost of leisure activities.  Use the budget as a goal, always placing an emphasis on saving so that when the unexpected expenses occur, there is a savings’ reserve to handle them.

Get out of debt as soon as possible by concentrating on paying off the smaller bills first; once that is done, then take the “extra” money toward the next smallest bill.

Never agree to an adjustable rate mortgage!

Try to have a 6 month emergency fund for hard times.

Lock your credit cards in a safe deposit box at the bank or freeze it in a container of ice in your freezer.  Your “frozen assets” aren’t easily accessible but available for emergencies.

Read Total Money Makeover by Dave Ramsey.

The best financial advice I ever received is simple: spend less than you make

The very best advice is to live beneath your means.

Learn the difference between speculation and investment. Then INVEST!

Spend less, save more, and avoid getting ripped off. (Clark Howard)

If your outgo exceeds your income, your upkeep will be your downfall!