Faulty Financial Thinking

Wrong thinking? Yes I have done so when it comes to my finances. I get set in my ways, in old paradigms, old school thinking and can easily perpetuate the myth that everything is ok, when in fact my financial world was about to collapse on top of me. Impending disaster, yet totally unaware…

Do you suffer the consequences of bad financial decisions because you have faulty thinking? Do you need to change your thinking? Life seems busy as we hurry through our hours, days, weeks, months and years. At various seasons of our lives we need to stop and re-assess what we have been doing, where we are now and the direction we are headed.

Proverbs 14:12
“There is a way that seems right to a man…..”
Proverbs 3:5
“…lean not on your own understanding.”
Proverbs 3:7
“Do not be wise in your own eyes…”

What past financial decisions have you made that affect the way you are now living? Many of those in financial difficulty really don’t know how they got into trouble. They just know that all of a sudden they find themselves in financial jeopardy. It is easy to let our decision making be based upon our current surroundings and the circumstances in which we find ourselves.

Is your financial future being influenced by your season in life, your current friends and your need to be accepted? If so, this influence can be positive and productive if you have the right influences, or it can be negative and devastating if you are keeping the wrong company.

Our culture often pushes greed, materialism and a mind-set of “you’ve got to have it all right now.” Our judgment and decision making are easily influenced by the commercials we see and hear, by the friendships we keep and by are inability to distinguish our needs from our wants.

Proverbs 23:4 says, “Do not wear yourself out to get rich; have the wisdom to show restraint.” We need to be on guard against personal greed that will lead us to want everything we see and cause us to spend all our energies in a futile attempt to have it all. We must restrain ourselves from seeking things even when we have enough money to purchase them. Additionally, we should also restrain ourselves from purchases for which we have no money and have to go into debt to obtain them.

Going into debt for wants certainly suggests that a person needs a renewal of the mind and a change in the thinking process. Debt is potentially enslaving and we should avoid it at all costs. Proverbs 22:7 makes this very clear to us when it says, “The rich rule over the poor, and the borrower is servant to the lender.”

What other areas of faulty thinking can you think of? Drop a comment and let us know.

Content © Rich Brott, 2011

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