“Okay, that’s an interesting title---my interest is peaked. Just one question: ‘Why would I want to know how to destroy my family’s finances? Isn’t the goal to avoid financial destruction?’”
Exactly! This article contains 10 things to avoid doing if you want to succeed financially. It’s like 10 “Do Not Enter” signs. If you do these things, you’ll be in grave danger. By avoiding these things, you’ll avoid lots of heartache and pain. So let’s get started:
1. If you want to destroy your finances, Don’t Tithe.
Malachi 2:8-12 says, “Will a mere mortal rob God? Yet you rob Me.”“But you ask, ‘How are we robbing You?’ “In tithes and offerings. You are under a curse—your whole nation—because you are robbing Me. Bring the whole tithe into the storehouse, that there may be food in My house. Test Me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it. I will prevent pests from devouring your crops, and the vines in your fields will not drop their fruit before it is ripe,” says the Lord Almighty. “Then all the nations will call you blessed, for yours will be a delightful land,” says the Lord Almighty.”
This verse makes it very clear---if you want to destroy your finances, don’t tithe and you’ll be under a curse from God. Tithing is only for those who want to be financially blessed. If you don’t want the windows of Heaven to pour out blessings on you and God’s protection over your family and property, then don’t tithe. Because if you tithe, you’re going to be blessed and protected. It’s your choice.
2. If you want to destroy your finances, Don’t Live on a Budget.
Living without a budget is like trying to build a house without blueprints. You can’t just put a wall up here, pour some cement there, and nail a few shingles wherever you want without having some direction. In both cases, you’ll end up with the same result—A BIG MESS. Living on a budget avoids the big mess. It gives you a plan to follow to avoid financial destruction. It tells you how much money you have and where it must go. It provides boundaries for how much can be spent in an area. It also provides freedom, because you know that when you need something the money is there. It is an absolute necessity if you want to be financially successful, but if you’re trying to destroy your finances AVOID IT AT ALL COSTS.
3. If you want to destroy your finances, Rack up lots of Credit Card Debt.
A sure fire way to destroy your finances is to buy things you can’t afford using a credit card and then delay paying the bill. This will let the credit card company compound the cost of your purchase by adding high interest payments onto the cost of your original purchase. The longer you avoid paying off your credit card, the more interest will accumulate until you pay 2, 3, even 10 times the cost of your original purchase.
If you let your balance rise high enough, you’ll have the opportunity to make a new friend when the phone starts ringing off the hook from collection agencies wanting you to pay now. You might even get to move to another part of town if they put a lien on your house or they start repossessing things. Aren’t credit cards wonderful?
Now, if you want to avoid paying more than your purchases are actually worth, adding to your debt load, hearing from collection agencies and possibly having your possessions repossessed, you should avoid using credit cards or pay off your credit card balance at the end of each month. My advice is avoid using them altogether. But if you want to destroy your finances, CHARGE, CHARGE, CHARGE!!!
4. If you want to destroy your finances, Keep Secrets about Money.
Nothing will destroy your finances (and your relationships) like keeping money secrets. It removes accountability, makes you carry the entire burden for managing the money on your own, and keeps you from receiving the help and wisdom of others.
If you want to have a successful, prosperous financial future (and successful relationships), the family budget should be an open, honest document that all members of the family are familiar with and accountable to follow. However, if you’re trying to ruin your finances, your relationships, and your life keep money secrets. Guaranteed to destroy your life!
5. If you want to destroy your Finances, Gamble and Play Games of Chance.
It never ceases to amaze me the amount of money people waste on gambling, lottery tickets, and other games of chance. Yet these same people always seem to be complaining about having no money. It doesn’t make sense to me.
But then, I’m one of those people who want to be wise with my finances. I’ve lived through one financial disaster and I don’t want to live through another! No, gambling isn’t for me---it’s for people who really don’t care how much money they waste. They don’t care if they lose their hard-earned cash---it’s worth it for the thrill of the moment. If you want to jeopardize your financial stability, gambling is definitely one way to go!
6. If you want to destroy your finances, Bounce Lots of Checks and Pay High Overdraft Fees.
A great way to lose all of your money is by paying it all to the bank in late fees, overdraft fees, and fees for bounced checks. Just think: 3 overdraft fees a month and you’ll have $100 less money because you’ll have given it to the bank. What do you need it for anyway?
Now, if you were worried about saving money and prospering financially, you could balance your checkbook at the end of every day and make sure you’re account is never overdrawn, but who has time for that? No, that would only help if you wanted to be financially successful. If you want to live through a financial nightmare, never balance your checkbook and let the bank drain your accounts dry in overdraft fees.
7. If you want to destroy your Finances, let PLAY Control your Life.
One of the principles that the Bible teaches is the value of hard work over Play. Diligence in our work is seen as a key to financial success.
Proverbs 10:4 “Lazy hands make for poverty, but diligent hands bring wealth.”
Proverbs 21:5 “The plans of the diligent lead to profit as surely as haste leads to poverty.”
On the other hand, the Bible warns us against laziness and too much Play.
Ecclesiastes 10:18 “Through laziness, the rafters sag; because of idle hands, the house leaks.”
Ultimately, overindulgence in Play will destroy us financially. Why? Because Play is expensive! Tickets to sporting events, movies, theatres, amusement parks, and other entertainment facilities are skyrocketing. It costs over $200.00 for the average family of four to spend one day at a theme park. That’s just the cost of admission. That doesn’t include food, drinks, and other extras once you get inside. That is a big chunk out of the weekly budget. Combine this with the cost of multiple events throughout a week or month, and we find that percentage of our income spent on Play is out of control. It’s like a monster that is eating up our money. Unless we put it in a cage and set limits on it, play will certainly destroy us financially!
8. If you want to destroy your finances, Don’t Pay Your Bills on Time.
Think it’s not important to pay your bills on time? Think again. Not paying your bills on time can have a severely negative impact on your financial future. You’ll get charged late fees, and get behind on your bills as your balance continues to grow and grow. Plus, it will negatively impact your credit score and your credit worthiness. This can make it difficult to get approved for new credit including auto loans, mortgages, refinancing, credit cards, and lines of credit. A bad credit score can hurt your personal life, too. It could keep you from getting a job, affect your car insurance payments, and keep you from being approved to rent an apartment.
If you keep putting off paying your bills, you’ll meet the nice people at the collections agency. Not only will they put enormous pressure on you to pay your bill, but they’ll charge you a BIG fee for managing your account. They’ll probably also charge you interest and late payments. That’s more money out of your pocket! Not being a group known for keeping secrets, they’ll report your problems to the credit reporting agencies and your credit score will get even worse.
If all of this isn’t enough, not paying your bills on time will give you a bad reputation.
You’ll become known as unreliable and a financial risk. Companies won’t want to do business with you---they might even make you pay up front before they will give you service. It will be harder to get cell phone service, cable service, and many other basic utility services---all because you didn’t pay your bills on time. It’s like being in the fast lane to financial disaster!
9. If you want to destroy your finances, Never Say “No” to Yourself or Your Kids.
It was really hard saying, “NO”. Who wants to be the bad guy all the time saying, “We can’t afford that”, “We have to wait”, and “No, you can’t have it” all the time? Still, it comes with the responsibility of managing money. If we are going to follow God’s principles for money, live on a budget, and avoid debt, we must learn to say “NO” when we can’t afford something. Whether we are saying it to ourselves or our families, it is hard to hear, but necessary to our financial survival. On the other hand, if you want to end up in lots of debt and no money for necessities, just keep saying, “Yes” to everything. In no time, you’ll have destroyed your finances and your family.
10. If you want to destroy your Finances, Ignore God’s Financial Principles.
Matthew 7:13-14 says, “For wide is the gate and broad is the road that leads to destruction, and many enter through it. But small is the gate and narrow the road that leads to life, and only a few find it.”
Psalm 119:105 “Your Word is a lamp for my feet, a light on my path.”
The Bible has a lot to say about money! He’s given us more than 2,350 verses in the Bible to instruct us how to manage our money, assets, and resources. In fact, the topic of money is second only to the topic of love in the Bible. Jesus said more about money and possessions than almost any other subject, dedicating over two-thirds of His parables to the subject.
Why did God give us all of this instruction?
So that we could prosper financially and avoid financial destruction.
The best way to learn how to be financially successful is to study God’s money managing principles. The fastest way to financial destruction is to avoid learning God’s principles and disobey them if you do learn them. Even though many people make this choice, in the end, it’s a first class ticket to financial destruction. The choice is yours, which road are you going to take?