4 Simple Steps to Money Management for Young Christians

Christians don’t like to talk about money.

Some don’t want to be told how to handle their money: It’s mine, I’ll do what I want with it.

Some think the church should stay out of it: Pastor Jones is always preaching about money.

And some look at God as if he were a bull market: If I give this much to the poor, he’ll give me back twice as much.

For the young adult reading this? You’re probably thinking along the lines of I hardly have any money, so why worry about it?

Sorry, guys, but on this blog, we talk about everything, including taboo topics like gender identity, premarital sex, abortion arguments… and Christian stewardship.

Money Management for Young Christians: Why Here?

Why would a blog for Christian teens and young adults get into something as earthly as money management? Three reasons:

1. The life of a Christian is not an ice cube tray, neatly compartmentalized so that each little section has its separate place. No part of a Christian’s life can be separated and kept from God’s touch. And money is a big part of our lives.
2. The habits you develop as a teen will follow you into college—and beyond. And the debt you acquire when you are young doesn’t dissipate later simply because you have an income.
3. Those strapped with financial troubles tend to be less useful, both to society and to Jesus’ ministry. Face it, when you’re suffocating under a thousand pounds of debt, you aren’t thinking about how to bless others or share your faith.

What Does the Bible Say About Money Management?

A lot, actually.

Ecclesiastes 5:10 warns that money is a pit: “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.” 

Deuteronomy 8:18 reminds us that our money really isn’t ours alone: “But remember the LORD your God, for it is he who gives you the ability to produce wealth.” 

Proverbs 13:11 encourages earning and saving: “Dishonest money dwindles away, but whoever gathers money little by little makes it grow.” 

2 Corinthians 9:6-7 says God loves—and blesses—one who gives willingly: “Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.”

And, my favorite… Psalm 81:10 tells us to boldly ask God (rather than the bank) to provide all our needs: “I am the Lord Your God, who brought you up out of the land of Egypt. Open your mouth wide, and I will fill it.”

Time to get your financial ducks in a row so you can open wide your mouth and let God fill it!

4 Steps to Money Management for Christian Teens

1. Remember Whose Money It Is

Everything you do should be reflective of the one who purchased you.

God owns 100% of your money, not just the few dollars you put into the collection plate on Sunday. If you can remember that one piece of information, you will already be way ahead of 99% of the world.

You are not your own, you were bought at a price and everything you do—including how you spend your money—should be reflective of the one who purchased you. If God has chosen to bless you with wealth, then he’s given you the ability to contribute more to the mission field or help the needy.

But, still, it’s his money.

2. Get Into the Habit of Giving

This is a big part of Christian money managment. And like most habits, this one is easiest when you start young.

You might be making minimum wage packing groceries at the local supermarket, but you still can and should set aside a regular allotment for the church (part of Christian stewardship). God’s ministry has expenses, too, and you can play an important part by giving what you can. Remember, the widow in Mark 12 gave only a few cents and Jesus commended her for it.

Ten percent is a great start. Most of us can afford to give at least that much, but feel free to be more generous!

3. Learn to Operate on a Budget

Something I strongly believe every person who has money should do, no matter how little or how young you are, is set a monthly budget—and follow it. This involves simple math: If you make $100 a month, your budget should add up to exactly $100—not $120 or $150—and this includes money for charity, paying of debts and building up savings. 

Budgeting is a chance to practice waiting on God for his provision.

There are tons of resources, online and in print, dedicated to the hows of creating a budget so I won’t go into that here. But I do want to emphasize that a budget only works if you follow it. If you decide to put $15 into your “Going Out With Friends” pot each month, you can’t buy a $20 ticket to an amusement park. (However, if last month you only spent $5 in that category, that means you have $15 still in the pot and now have $35 to work with. Ah, the power of saving!)

Budgeting is a chance to practice waiting on God for his provision, and a key starting point for Christian money management.

4. Spend wisely. No, really. Think before you buy anything.

Wise spending is sort of like the muscles in your arms. The more you use them, the stronger they get. The more you practice making wise choices with your money, the better you are at it. If you’ve created a budget, you’ve probably noticed you can’t afford everything you want, so you have to make choices with how you will spend what you have.

A few things to keep in mind:

• A good deal isn’t a good deal if you can’t afford it. Those $87 shoes might be a steal at $42, but if you don’t have $42, the only steal is what they’re stealing from you.
• You won’t save money by spending. To build up your savings account, you actually have to put money in it and leave it. For real.
• Just because you can afford to buy something, doesn’t mean it is a wise purchase—or that God wants you to have it. I could afford a late model Toyota Yaris, or I could purchase a reliable older vehicle for way less and put the extra money in a place where it is making more of an impact on the ministry of the church.
• Little expenses add up. More simple math: A movie rental costs about $2. Ten movie rentals cost $20. It doesn’t take long for the money to disappear.
• You can’t buy contentment. This is a biggie, and it only comes from God.

But godliness with contentment is great gain.

1 Timothy 6:6

If you keep your focus on eternity, the flashy things of this life will fade into the background and your need to spend will diminish. Everything, from shoes and video games to colleges and houses, can be purchased with a Godly mind or a worldly mind.

Keep your eye on the real prize: Jesus.

Money Management Resources for Young (and Old) Christians

As previously mentioned, there are literally tons of websites and books on this topic. I recommend anything by Dave Ramsey, mostly because I’ve used his resources myself and find he makes the concepts easy to grasp. Consider checking out his book, The Total Money Makeover, for starters.

And while this article states there are 4 Steps to Money Management for Young Christians, there is actually a fifth step that deals with a topic with a weight so crushing for so many people—especially college students—I’ve reserved discussion of it for my next post: Avoiding the Prison of Debt, Even in College!

Hang on to your wallets!