Market Correction

Due to the current economy, many people have adjusted their financial habits. Reckless spending is much lower and financial discipline is growing significantly. People are keeping a closer eye on their debt (especially the credit cards!) and trying to save more. This newfound financial discipline has spiritual implications as well.

Now, I’m no financial expert, so when the analysts are discussing the Dow Jones and the gross national product, I pretty much glaze over. But the idea of “market correction” caught my attention. According to analysts, a series of poor financial practices, such as overlending by banks, overspending by consumers (mostly on credit), and overambitious interest rates have led to current market conditions. And the resulting foreclosures, unemployment rates, and national debt are the price we now have to pay—literally.

Undisciplined financial behavior leads to serious financial consequences. Now take the word “financial” out of that previous sentence. It’s a basic spiritual principle that a lack of discipline leads to poor outcomes. So as Christians, taking stock of our financial habits is closely tied into taking a closer look at our overall lifestyle. During this period of market correction, maybe there are areas in which we will achieve spiritual correction as well. There are a few examples:

• More people are using coupons now when shopping. I heard someone once say, “Retail price is for suckers.” Getting the best price for purchases just makes sense. But of course, this type of discipline involves planning your shopping trip to the grocery store or mall to ensure you have the coupons you need—which means fewer wasteful impulse purchases.

• Many have cut down on non-essential spending, such as dining out. I can only begin to tell you how many benefits this offers. The first is the ability to spend more family time at home. In addition, by preparing your own food, you control the ingredients—which has tremendous nutritional benefits for your family.

• Most of us are also keeping a watchful eye on the credit card bills and our accumulated debt. Paying down and controlling debt has always been essential. Many lost sight of that during more prosperous times. But now, outrageous spending is down, allowing more people to appreciate what they currently have and save for the future.

Have you been more responsible with your finances lately? Or are you in the market for some correction? I’m reminded of the parable of the bags of gold in Matthew 25:14-30. Take a read—and ask yourself if you are like the servant who was pleasing to his master. Then ask God for ways in which you can be an even better steward of the finances He has entrusted you with.

What are some ways in which you have been led to be more financially responsible? Leave a message!