By Waylon Bailey.
Beginning very soon, many—maybe most—Americans Will receive a stimulus check from the federal government. It will amount to $1200 for adults and $500 for children, depending on eligibility.
This is to offset the huge costs some people are experiencing from the Covid-19 Crisis.
What should you do with your money? This question is being debated in many different ways.
Here are some ways I would suggest you consider.
First, this check is given to keep you afloat. By all means, use it in that way – – to pay rent, a mortgage, buy food but not for anything frivolous or throw away. This is a time for sober, wise, thoughtful, godly wisdom. More difficult times will be ahead, if not now sometime in the future.
Second, establish an emergency fund. The number of families who are one paycheck from disaster is astounding. If you are one of those families, use this money to set up a fund for the inevitable unexpected expenses. Then plan to add to that amount every month. Pay yourself first. Then plan to add to that amount every month.
The Bible is very clear about the wise use of funds. Therefore, be wise.
Third, save long-term. Set up a education fund for your children or a retirement fund for yourself. Your children’s education and your retirement will come much quicker than you ever expected. Be prepared then by being disciplined now.
Fourth, tithe on whatever amount you receive. Your tithe (10 percent of your income) is a tangible way to say to God that you are thankful for all your blessings.
It is beyond time for God’s people to tithe on all their income. Start with this stimulus check. It is a biblical mandate.
Fifth, give your check away. If you have not been significantly harmed by this time in American history, consider a family that has been and find ways to help one or more families with their needs. You can also give it to your local church, Food Bank, or some other reputable charitable group
Here is a biblical teaching: my money is not my money. It belongs to God and should be used according to God’s will. Pray about your blessings and ask God to show you how to use this stimulus check.