Mastering Your Money in an Uncertain Economy
Excerpted from Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment by Ron Blue
It was during the early 1970s, and for the first time in the nation’s history, that Americans began experiencing “tremendous” inflation rates of 4 percent and 5 percent. The prime rate hit an unbelievable high of 10 percent and then even went to 12 percent. The dollar was taken off the gold standard, and for the first time in recent history, the United States began running a trade deficit. In the midst of personal affluence, I began to experience the fear that comes from wondering, Will I ever have enough? Or, If I do have enough now, will it be enough when I retire? And, By the way, how much is enough?
I believe that everyone, rich and poor, asks themselves these underlying questions more frequently than they would like to admit. These questions are constantly in our subconscious, and therefore, we all deal with them somehow in our decision-making. Either we tend to hoard our resources, or we tend to live out the philosophy of “get all the gusto you can—you only go around once.”
The Christian, additionally, is confronted with the question, “What is the appropriate Christian lifestyle?” This book, by the grace of God, will attempt to answer each of these questions by providing a framework of financial planning that is both biblical and relevant in our unique society.
Through the mid-1970s I dealt with these questions, both personally and as an advisor to a largely wealthy, secular clientele. In 1977 my wife, Judy, and I experienced God’s call to leave the businesses I was involved in and join a new ministry in Atlanta, Georgia. For two years, as our family grew to five children, I helped to develop seminar materials in the areas of decision making, time management, faith planning, and problem solving. During this time, I traveled to Africa eleven times, assisting a large Christian organization to apply the principles that we were teaching. I observed during all of this that the same financial questions my former clients and I had been asking were being asked by others as well: missionaries, affluent Africans, poor Africans, full-time Christian workers, successful American executives, pastors, and friends. The questions were:
Will I ever have enough?
Will it continue to be enough?”
How much is enough, particularly in view of my Christian convictions and understanding of Scripture?
Four Economic Possibilities
The context of personal money management is that God is still in control, and under His control, there are four broad economic possibilities: (1) inflation, (2) deflation, (3) monetary collapse, or (4) political upheaval. Although I am neither an economist nor a prophet, and I do not know what is going to happen, I can plan for possible eventualities and base my planning on basic biblical financial principles. In the early 1980s, almost everyone was projecting increasing double-digit inflation. One of the consequences of that belief was a rapid escalation in raw land prices, especially farmland. However, at the beginning of the twenty-first century, farmland could be purchased for one-third to one-half of what it was selling for in the early 1980s, and today it costs only 33 percent more than it cost in the early 1980s. Almost no one predicted the collapse in farmland prices or oil prices at the beginning of the twenty-first century, and the consequent devastation to many families, corporations, and even cities.
God’s Sovereignty in Every Scenario
In the early 2000s, economists began mentioning deflation in the midst of the upheaval of the war on terrorism, and they are now mentioning inflation in the wake of historically low interest rates over a long period of time. The point is that neither inflation nor deflation is a sure thing. God is sovereign and can direct the course of our economy in any way He wants. In any case, planning one’s finances must take place under the sovereignty of God, recognizing His omnipotence, wisdom, purposes, and plans. Because there are only four economic possibilities, I must plan for all four in answering those three fundamental questions: Will I ever have enough? Will it continue to be enough? How much is enough? I believe that God is more interested in each of us individually than He is in any failure or success of our economic system. I do not believe that the Bible sets forth any one economic system. God is interested in how I glorify Him wherever I live—whether under capitalism, communism, socialism, or any other system. God has called each of us to a unique role in an uncertain economy.
Faith & Finance Perspective
Although the book from which this article was excerpted was originally published in 1986, many of the economic realities described ring true today. And it’s no coincidence. Turbulence in the world’s economic structures has occurred throughout history, often marked by inflation, recessions, depressions, wars, natural disasters, speculative bubbles, shifts in labor and social structures, or monetary disruptions.
Around 2000 BC, Economic instability in Mesopotamia was attributed to poor harvests, warfare, or debt crises. A few centuries later, Hammurabi’s Code tried to regulate lending and debt slavery, suggesting recurring problems with credit. In Ancient Greece, economic inequality and debt crises led to reforms by Solon, who canceled debts and restructured society to ease tensions. In Ancient Egypt, famines and shifts in Nile flooding patterns often caused food shortages, leading to social unrest and inflation. A little more recently, 17th-century Europe was marked by economic and political upheaval due to war (e.g., the Thirty Years’ War), poor harvests, and climate shifts (the Little Ice Age).
Christians throughout history have endured financial hardship in various ways, often guided by principles of faith, community support, stewardship, and hope. These responses are rooted in Scripture and shaped by historical experiences, from persecution and poverty to economic upheaval.
The early Church (Acts 2:44–45) practiced radical generosity, selling possessions to help others in need. Monastic communities in the Middle Ages lived communally and provided shelter and aid. In times of economic crisis (e.g., during the Great Depression), churches often served as lifelines, offering food, shelter, and support.
Christ followers continue to face economic uncertainty by trusting in God’s provision; building spiritual resilience through prayer, Scripture, and worship; finding contentment in what they have; and placing their security in the eternal vs. the material.
Ron Blue is a pioneering figure in the field of Christian financial planning, renowned for integrating biblical principles into personal finance and stewardship. For more on experiencing financial contentment during challenging economic times, consider his book, Master Your Money, or other resources available through Orchard Alliance’s Faith & Finance website.
. . . so that, having been justified by his grace, we might become heirs having the hope of eternal life.
- Titus 3:7