Prodigal Financing
Luke 15:14
"And when he had spent all, there arose a mighty famine in that land; and he began to be in want."
When you think of the story of the prodigal son, rarely would you think of financial lessons. Though there are many lessons we can learn from the prodigal, I believe some of the lessons that are often overlooked are the financial lessons. This young man left his father's house with quite a bit of money; yet, when he came back home it was all gone. Let me show you some lessons you can learn from the financial mistakes of this young man so you won't be guilty of prodigal financing.
First, don't be wasteful with your money. In verse 13, the Scriptures say that the prodigal "...wasted his substance..." This is a tragic mistake of many people. Wasting your money is so easy. Purchasing a candy bar here and there is very wasteful. Buying sodas here and there is very wasteful. Very few people understand that they can waste a lot of money simply by spending a dollar here and there on items that are not really needed. If you don't want to be guilty of prodigal financing, then you need to curb your spending on unnecessary items. I am not saying that you cannot have these things every once in awhile, but you need to keep track of what you spend on them.
Second, be sure to live within your means. Verse 13 says that the prodigal "...wasted his substance with riotous living." This young man tried to live a lifestyle that he could not afford. First, there are some lifestyles that will waste your money. Living the world's lifestyle will cause you to waste money. You cannot party your life away and think that money will continue to be a part of your life. We often hear stories about sports figures who live extravagant lifestyles in the party world only to find themselves broke after their sports career is over. You can criticize them for this, but you are no different than they are if you live in the party world. Second, don't live above your lifestyle. Don't try to be something that you are not. Be careful about trying to "stay up with the Jones'." If you will live within your means, you will always have money to spend.
Third, don't spend everything that you have. The verse above says that the prodigal "...spent all,..." I am amazed how many people run their bank account on a zero balance. This is very unwise! I know there are times when finances are very tight, but you must be careful about running your accounts to zero. Whether it is personal, business or church finances, running your accounts to zero is prodigal financing. Always keep a balance in your bank accounts.
Fourth, always lay aside for a famine. The mistake the prodigal made was that he always thought times would be good. Everybody will have a financial famine at some time in their life. This is why you need to have a good balance in a savings account that you don't touch or consider part of your daily balance. This money needs to be set aside for those times when a financial famine hits you. If you don't have money set aside for a financial famine, then you are guilty of prodigal financing.
Last, get counsel when you are in financial trouble. The one area where I will commend the prodigal is in the area of humbling himself and going home to get help from his father. When you are in a financial mess, you need to get wise financial counseling. Don't be afraid to go and get counseling from someone when your finances are a mess. Yes, it will be humbling, but you will be thankful for the guidance in the long run. Prodigal financing will always lead you to the same result of no money. So, learn from the prodigal's financing so that you don't end up in the same condition.