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Affluent Christian Investor | September 21, 2017

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What is Your Highest Financial Priority for Next Year?

(Photo by seniorplanning.org) (CC BY) (Resized/Cropped)

(Photo by seniorplanning.org) (CC BY) (Resized/Cropped)

Now, you are likely thinking about your Christmas list and trying to get your shopping done, but which of these will be your top financial priority in 2016?

  1. Saving more?
  2. Paying off debt?
  3. Trying to stay current on your bills?

This isn’t a new development.

“For the 4th consecutive year, staying current on living expenses or getting caught up on the bills is the runaway winner among Americans’ highest financial priorities,”

says Greg McBride, CFA, chief financial analyst at Bankrate.

According to a recent article at Yahoo Finance,

“Though people are feeling more positive about their financial prospects overall, many Americans are running just to stay in place.

Fewer than 1 in 5 people, 18% of those surveyed, say that saving is their top financial priority. Only slightly more, 21%, are focused on paying down debt, but 38% of Americans say they are just trying to stay current on their bills.”

Here’s my advice:  Make giving your top financial priority next year. I may sound like a broken record but this priority is clearly stated in God’s Word. After that, make a plan to follow this process: save $1,000, then save 3 months of your living expenses and set it aside in an Emergency Savings account. Next, pay down debt.  If you feel you are among those treading water, remember, nothing is impossible with God. Don’t be discouraged, make a plan and seek His help.

 

 

Originally posted on Crown.

Chuck Bentley is CEO of Crown, a non-profit business and personal finance policy and educational organization, and author of “The S.A.L.T. Plan. How to Prepare for an Economic Crisis of Biblical Proportions” and “Root of Riches, What if everything you think about money is wrong?”

 

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