7 Steps to Prepare for Economic Resilience
Now is the time to build.
Greetings Prosperous Souls,
The election has come and gone, and here we stand with the results. Now, as we turn to what lies ahead, let’s set our sights on next year and beyond.
Regardless of where your support lands, it’s wise to recognize the season we’re in. Economic changes are coming—some will bring abundance; others won’t.
Regardless, the best time to prepare is now. Here are some steps you can use to get ready for what’s coming.
Practical Steps to Fortify your Finances
1. Pay Down Debt: Household debt in America has ballooned to record highs, and high-interest loans trap us in cycles of lack.
Use a debt snowball or avalanche to systematically tackle loans. If feasible, consider low-interest offers from family or friends. Each debt you eliminate creates more financial breathing room.
2. Live Within Your Means with the LGS Model: Budgets can feel overwhelming. The LGS simplifies things by dividing income into 3 categories: Living (groceries, insurance, housing), Giving (tithes, offerings), and Saving (emergency funds, retirement).
If you’re stretched thin, use the LGS to manage your income. I recommend an 80-10-10 split: 80% Living, 10% Giving, and 10% Saving.
3. Stretch Every Dollar to Combat Inflation: As prices increase, make sure every dollar counts. Focus on essentials and look for ways to save without sacrificing quality.
Buy bulk items and whole cuts of meat. Prep meals in advance. Opt for low-cost entertainment options like family game nights or pickleball. Every dollar stretched protects your quality of life.
4. Simplify Your Life: Life’s complexities distract us from what really matters. Simplify where you can. Focus on true riches like your relationships and well-being.
Some how-to’s? Limit digital distractions. Invest time with family and friends. Swap an evening in front of the TV for quality connection time. Declutter your schedule and experience greater peace.
Spiritual Steps to Fortify your Finances
5. Seek Heaven’s Provision: Come to God with your needs. Implore Him to expedite your financial journey. Jesus invites us to abide in Him. As we do, He promises to supply our needs (John 15:7).
Approach prayer as a child would a loving Father. Ask confidently, knowing that He’s aware of your desires.
6. Give Generously: Generosity is a powerful tool that aligns our hearts with God’s abundance. Paul reminds us in 2 Corinthians 9:6-7: “Whoever sows generously will also reap generously.”
Look for ways to give, even if your resources feel limited. Offer groceries to a neighbor, give encouragement, or provide financial help. Generosity reflects God’s heart and opens doors for His blessing.
7. Practice Gratitude and Forgiveness: Gratitude and forgiveness are essential to building resilience. Such practices create space for peace and alignment with God’s heart.
To expedite this, start a daily gratitude journal. List 10 things you’re thankful for, especially on hard days. Be quick to forgive when conflicts arise. If you make a mistake, ask for grace.
Building Resilience for the Journey Ahead
Practical and spiritual preparation creates a sturdy foundation for the future. As you deepen your relationship with Christ and steward your resources wisely, you’ll be more ready for what lies ahead.
May the Lord bless you on your journey toward Financial Healing.
P.S: if you need further guidance, please become a paid subscriber. For only $7 a month, you can gain access to a live discussion with me every Wednesday at 3:30 PM (California time). This hour is designed to connect you with like-minded stewards and expedite your path to Financial Healing.
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God bless your Prosperous Soul,
Stephen K. De Silva
About: Stephen K. De Silva is an author, speaker, and financial mentor. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s blend of experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@prosperoussoul.com