Confronting Financial Pressure

July 22, 3:11 PMColumbus Pentecostal ExaminerBurton Campbell

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It seems that worry about finances has gripped many people, and with significant cause.  The nation is experiencing the highest unemployment rate in more than a quarter century.  Ohio’s rate has now topped 11%. Though the immediate Columbus area is fairing slightly. better than the rest of the state, the near forecasts indicate the strong likelihood of further significant economic contraction  These pressures, combined with a drop in wages and wage value, contribute to a climate of fear and uncertainty about the days to come. 

The problem is two-fold.  First, there are the economic realities that are certainly difficult and daunting.  Second, there are the economic perceptions about personal finance that can seem even more overwhelming.  For example, the Center for American Progress reported in February 2009 that the average household credit card debt was $10,678.00.  At the current average APR of 12.04%, it will take that same family six and a half years to pay off that debt at a minimum rate of $200 per month.  That’s the facts.  The perception, however, for many families is that it cannot be done.   Rather than work to control spending or change lifestyles, many people will simply look to borrow more, apply for more credit, or go bankrupt.  The truth is there are other options, but they only become viable when individuals decide to change their thinking and then their behavior.

It’s often said that the journey of a thousand miles begins with a single step.  The steps to financial freedom are many and include things like simplicity, budgeting, savings, careful buying, and prudent review.  Some of these steps are about practical decision making.  Some are about identity and lifestyle.  Unless issues of the latter are addressed first, the practical steps will never matter.  Some people allow their happiness to be shaped by materialism.  Personal malaise is often treated through the purchase of something new: clothes, shoes, gadgets, jewelry, cars, electronics, etc.  That’s a lifestyle issue.  No amount of budgeting or sale finding will accomplish anything long term if the tendency is to alleviate emotional pain through material purchasing, whether small or big.  In the end, the relief is fleeting and the cycle continues.

The first step to becoming free from the pressures of money is learning the secret of contentment.  The Apostle Paul wrote to Timothy, “But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that” (1 Timothy 6:6-8).  Finding contentment requires lifestyle change, including the embrace of simplicity and disengaging from the need to “keep up” with the latest trends.  Instead of filling one’s head with the continual lust for more, prudence requires moving in the opposite direction.  Consider the following actions as one works to embrace a spirit of contentment:

• Go for regular walks.  Whether during the lunch hour or at the end of the day (or both), there’s nothing like a good walk to clear one’s mind and focus on what is truly important.  The endorphins released through this simple exercise will decrease stress and elevate your mood.
• Spend regular time outdoors.  Take in some sunshine.  Breathe fresh air.  At a bare minimum, open a window.  The outside world engenders perspective.  Sunlight helps overcome depression and moodiness.  Instead of pursing countless hours on the internet or in front of the television, spend an hour in a garden or working on the lawn.  You’ll have something to show at the end of it.
• Get to know people.  Regularly connecting with friends, neighbors, and co-workers in non-work settings can be an important step in changing one’s mindset.  Finding joy in people and relationships is a significant factor in overcoming materialism and a self-serving focus.
• Visit the library.  Read magazines and journals in fields you’d like to discover.  Pick out one self-help book a month and work on an area of your life you’d like to change.  The resources are free and readily available!
• Drink water.  Lots of it, all through the day.  Regular water intake helps ward off migraines, fights depression, flushes out toxins, raises the metabolism, increases energy levels, and can even help with weight loss.  All of these combine to decrease both physical and mental stress, affecting clarity, mood, and impulse spending.

Of course, none of these things necessarily produce any immediate changes to one’s financial situation.  However, they do work to help change individual lifestyle and thinking patterns.  Finding contentment in the simple things is a mandatory first step to overcoming dependence on credit and/or materialism.  Our nation is in need of real fiscal change at all levels, but nothing changes until people change.  Learn to find joy in simplicity and you’ll be on your way to making other positive changes that are practical and prudent.  You’ll have the emotional energy and clarity to make the necessary changes that do move you toward greater financial freedom.