Money Management Tips That Work

July 24, 2023 · by LaDonna Harrell

I truly believe that everyone can get out of debt if they put their mind to it.

My husband and I are currently on our advanced debt-free journey. While we rarely use credit cards and do not have vehicle payments, we are pursuing not having to owe anyone at all, including a mortgage.

The Bible says in Proverbs 22:7 “...the borrower is servant to the lender.”

Think of ALL of the amazing things that you could accomplish when your money is to be used how you choose.

Now let me tell you, I am by no means a money expert. But my husband and I do host a Money Management Bible Study Class at our local church, and we have seen God do many things in people's lives when they put forth the effort. I would love to share with you a few tips that have helped.

Track Monthly Spending

•Prioritize Reducing Debts

•Create A Budget

•Learn To Say “NO” (To yourself and others)

•Use The Cash Envelope System

•Have An Emergency Fund


•Save For Retirement

•Stop Spending Money You Don't Have

•Go Over Monthly Bills Every Month

•Know Where Your Money Is Going

•Spend Less

•Meal Plan

•Change Your Thought Process About Money

Most of the things that I just listed are biblical money management tips that align with God's Word.

Just remember that God has entrusted you with this money to be a good steward of it. He did not give this to you to go and blow and live a life in bondage, stress, anxiety, and debt. There are times when God calls us to be self-disciplined and to use self control.

Even though I did not list this in the section above, tithing is also a biblical money management tip that is a must. Tithing is a great way to receive God's blessings.

Did you know that living a good life is a reward from God? Read the book of Ecclesiastes in the Bible and you will see throughout the chapters where it says living a good and happy life is a reward from God.

Ecclesiastes 2:24 CSB “There is nothing better for a person than to eat, drink, and enjoy his work. I have seen that even this is from God's hand.

•Ecclesiastes 3:12-13 CSB “I know that there is nothing better for them than to rejoice and enjoy the good life. It is also the gift of God whenever anyone eats, drinks, and enjoys all his efforts.”

•Ecclesiastes 5:18 CSB “Here is what I have seen to be good: It is appropriate to eat, drink, and experience good in all the labor one does under the sun during the few days of his life God has given him, because that is his reward.”

These are just a few scriptures in this particular book in the Bible. There are more so I'd encourage you to go read them and pray over them when you begin feeling discouraged.

Instead of living a good and happy life, many are living a stressed and anxious life. This is not what God has for you, and you can change this quickly.

It is easy to feel overwhelmed when you're bogged down in debt. But knowing what the Word of God says is a great reminder that you aren't alone in this.

And guess what...it's okay to be grateful for money!

Here are a few ways to be grateful for what you do have:

•Every morning thank God for 5 things that you are grateful for.

•Think about the job that you have, or want to have, and say something that you are grateful for about it.

•Tell 3 people at least one thing that you are grateful for and why.

When you begin doing these few things on a regular basis, the money management tips above become easier to work through!

An important part of money management is to save your money. Stop spending it on things that will not matter a year from now. 


You're probably wondering what are ways to save money that you most likely don't have.

Print off the last three months of your bank statement and do some digging.

Highlight in one color what your monthly bills are. Use a different color to highlight what you spent on eating out/coffee/snacks. Next you will highlight what you spent on extracurricular activities. This includes movies, shopping, spa dates, etc.

Once you have all three categories highlighted, calculate each category by month. You will be able to see how and where you are spending your money each month. But the big reveal is when you combine the three months' total in each category; that will truly show you where your money is being spent.

You can absolutely have more categories but for now I want you focus on these three.

It's an eye-opener and possibly can be a punch in the gut. I know...I've been there!

Then you will have to decide what is a need and what is a want.

Let's say you are spending $500 a month on eating out. This is a want because you can eat at home and do not have to have coffee or snacks every day.

Give yourself a budget of $100 a month to eat out and try to find family friendly places that are cheaper.

This will give you an extra $400 a month to put toward debt. The same goes with extracurricular activities. Perhaps some things need to be cut out for a bit while you are doing your best to get debt paid down.

This goes back to the Money Management Tips of learning when to say “NO”. Remember that we are a steward of God's money and sometimes that means self-discipline and self control.

You can absolutely get out of debt and live a beautiful life that is pleasing to God. I have seen time and again when people commit themselves to being good stewards of the money that God gives them. He begins to move on their behalf and create different avenues for them to be able to fast track getting out of debt. 

I hope these money management tips have helped you to learn how you can have a debt free lifestyle.

LaDonna Harrell

About LaDonna Harrell

LaDonna Harrell lives in Magnolia, AR with her amazing husband and wonderful son. She loves to travel around the Unites States with her family, reading, being a mom and wife, playing the piano, decorating, and studying God's Word. Being a southerner, LaDonna's love for hospitality, decorating and southern charm shines through. She enjoys hosting Women's Bible Study luncheon's in her home. She and her husband work in many areas of their church, including teaching a Biblical Finance Class, and enjoy being "hands-on" in the ministry and Kingdom of God. She is the owner of the blog Faith Family and Miracles, where she provides resources and speaks to woman about real life issues of being a Godly mom and wife. Follow LaDonna on Facebook at facebook.com/faithfamilyandmiracles

Website: www.faithfamilyandmiracles.com