Principle #1: The Means to Financial Freedom
The Sound Stewardship Principles™ are at the heart of how we serve. Over upcoming months, we’re going to break down each of these principles in greater detail and take a closer look at what we believe leads to financial success.
Principle #1: The means to financial freedom
We’ve all heard the phrase “living beyond your means” over and over when it comes to finances. It conjures up images of stifling credit card debt and paycheck-to-paycheck living. But it can lead to something more lasting than those emergency situations that often come with a certain season of life — it can lead to long-term financial immobility. Living beyond one’s means is inherently dangerous.
At Sound Stewardship, we have seven principles that are crucial to long-term financial success. They create the foundation of how we serve our clients. The first of these principles is “live within your means.” We like to say that wealth cannot be created if it all goes out the door. This might seem obvious, but for many, this value can easily get overlooked when life gets tough.
Living within your means leads to freedom
So why is it so important to live within, or even below, your means? My answer to that is simple: freedom. We believe that every financial decision is a spiritual decision, and when we enslave ourselves to money, to debt, to financial stress, we limit our ability to thrive as humans. We limit our ability to give generously and to be content.
If you can’t figure out how to live within your means, the rest of our seven principles are almost impossible to access:
- You can’t give when you’re broke
- You can’t be diversified when you have nothing to invest
- You can’t achieve a long term plan without resources
When we live beyond our means, it creates a downward spiral that impacts our entire future.
The Biblical Basis
Paul writes in Philippians, “I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do all this through him who gives me strength.” (Philippians 4:10-13)
This is our inspiration for living within our means. When our means seem small, we adjust accordingly because we are obedient to God and content with the blessings he’s already provided. No matter our circumstances, giving is still a priority. No matter what challenges come our way, we move forward without becoming overwhelmed.
We know it’s not easy
If you’re stuck in a financial rut, being content and generous can be a lot to ask! At Sound Stewardship, we understand the stress that money can cause and are here to help. We believe that one of the secrets to sustaining healthy finances throughout your lifetime is tracking what’s coming and going. We can help you understand first what your means are, and second how to live within them.
And when those things are in place, a life of generosity and financial freedom isn’t far behind.
Read more from the Sound Stewardship team on financial freedom:
- The Only Way To Get Wealth
- The Least Sexy, Most Important Money Skill
- The Three Most Common Money Mistakes
- Cultivating the Art of Contentment