One sneaky side effect of inflation (and what you can do about it)
Without a financial target, money can be lost. It becomes like sand and can just slide through our fingers.
“I don’t know where all my money went.”
“My budget has gone out the window.”
“I have a really hard time building my savings. There’s just always something more urgent for me to do with my money.”
Aimlessness with money is a sign of financial disease. As people say, “Aim at nothing, and you’re sure to hit it.”
That is a true statement where money is concerned—especially during times of inflation.
Why should you have a financial target in 2023?
In the United States, inflation is officially around 8 percent, but I would say that unofficially it is closer to 11 percent or more. Living costs have grown materially, and many people find themselves using their money in ways they did not intend.
“Inflation is killing me right now.”
“I just can’t afford to give as much as I used to.”
“I am watching my savings account dwindle away to nothing.”
Inflation comes with an unexpected side effect. The invisible “tax” of inflation is more serious than having to spend extra money on Christmas presents or at the gas pump. That’s bad enough, but inflation also secretly consumes our seed for the future.
As the cost of living goes up, many of us are taking money out of our giving or savings, so we can apply it toward our current needs. The problem is, the money we put toward giving and savings are the seeds we are planting for the future. The biblical principle of sowing and reaping is still in effect. It sits above even the best-laid economic plans of man.
Part of having a financial target is knowing exactly what is going on in your household—how much money is coming in and how much you’re spending. When you have a financial target and are proactively heading toward it, inflation will not have as much power over you. You can conquer inflation—instead of the other way around.
Your story doesn’t have to be “Inflation is happening to me!”
But it can be this instead: “I am happening to inflation. I am aware of my numbers, and I know my target. I am asking God for His help, and I will be successful.”
What is your financial target?
In this season of inflation, what are you aiming for?
How much money is coming into your household and how much is going out?
What is on your heart for your household? And what are you asking God for?
Be aware of your numbers, and keep your target in mind.
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