Some pretty sobering news from the World Bank. As the world economy is forecasted to shrink and countries begin to lean toward global economic solutions, what can we Christians do? First, we need to strengthen our faith on the Rock of our Salvation. Historically, difficult times have resulted in a resurrection of faith and a return to biblical principles. It’s that foundation that will carry us through our current crisis. The second strategy we can employ is to create a household budget and pay down debt. This requires a bit of discipline, but the benefits far outweigh the sacrifice. Begin by listing household income followed by monthly expenses and then debts listed smallest to largest. Once all of the monthly expenses are covered and the minimum payments on debt has been made, apply the remaining income towards an emergency fund and pay down an additional amount on the least debt. It will take a couple paychecks to get this strategy perfected, but soon every dollar will be allocated before it is spent. A third strategy to utilize in the shrinking economy is to make ourselves marketable. That means becoming the best employee at our current job and broadening our skill set. If we make ourselves valuable, then it will be more difficult for an employer to let us go if things get tougher. For those not employed, this strategy will work too. Seek part-time jobs with the “go-getter” mentality. When we apply a “whatever it takes” attitude, it provides more job security.
Published March 9th, 2009 by wpengine