Mindful Money Matters
As much as we dislike to think on these matters, now is the best time to set some financial goals. Whether you wish to get out of debt or save for retirement, it is essential to take an intentional approach. Consider your daily behaviors; staying present and mindful, not acting out of habit or lack of impulse control. Your spending behaviors must align with your long term goals. Prioritizing your financial goals will also have the added benefit of peace-of-mind. It is important to create a written spending plan. I have heard it recommended to use the 50-30-20 rule. Spend 50 percent of your income on necessities, 30 percent on wants, and 20 percent on savings and debt reduction. Depending on your income, age, values, and specific goals, you may need to adjust these numbers a little more conservatively. And of utmost importance, be clear on what is a want and what is a true need.
Being in debt is an unpleasant place to be, especially if you are carrying large balances on your credit cards. According to TransUnion, one of the largest credit reporting agencies in the U.S., average credit card debt per person in September 2025 was $6,523 and the average interest rate was 22.83 percent. Calculated on Greenpath, if this is your debt and interest rate, and you only make the minimum payment, it would take nearly 14 years to pay it off and cost you double. While credit card debt is considered short-term debt, it can start to feel like an eternity. The rich rule over the poor, and the borrower is slave to the lender. (Proverbs 22:7 NIV) If at all possible, pay off your credit card balances every month. This may seem impossible now, but is achievable with systematic, mindful practices and the right tools.
Most people, it seems, have moved away from paying with cash. We just throw everything on our cards. This can be a good thing if you have cards with good rewards programs, but again, this only works to your benefit if you pay the balances every month. I have all of my accounts set up to pay the full amount automatically every month, however, this only works if you have a good cushion or overdraft protection. Also, most accounts of all types have gone paperless. When your statement came in the mail, there was the possibility that you would look it over. Having to log-in to access it online may make that less likely. Make a habit of checking your bank account and credit card statements regularly. In this way, you can identify patterns and bad habits or even mistakes and identity theft. Seeing your daily $6+ Starbuck’s coffee and frequent stops for fast food can add up very quickly. (Stay tuned for an upcoming post with tips for feeding yourself and your family when time is at a minimum.)
It is very easy to forget about a myriad of subscriptions that you’ve signed up for over time and may not even use anymore. Checking your statements can bring these to your attention and make a quick, easy way to make budget cuts. I like to sign up for streaming services or educational services when companies offer special pricing. I don’t like when I forget to cancel them and wind up paying full price. Be sure to put these things in your calendar or make reminders on your phone so you cancel them before the renewal date. There are also many budgeting apps, like Rocket Money, that now identify subscriptions for you that you may have forgotten about. The down side of these apps is that they usually have a monthly fee and you need to share your account information on them. If you think you may find an app beneficial for your financial planning goals, you may want to check out this article, 7 Best Subscription Manager Apps to Track and Cancel Recurring Charges [2026 Guide].The author does recommend a few free options: Empower or Rocket Money’s free version.
Here are a few other beneficial resources. The U.S. Securities and Exchange Commission’s investor.gov offers many financial tools and calculators, investing information, avoiding scams, and much more. Free financial online courses and a free financial hotline can be accessed at savvyladies.org.
Biblical principles also guide how we should be good stewards of the resources God allows us to be managers over. We need to be disciplined and responsible, living within our means, mindfully overseeing what God has provided for us. The earth is the LORD’s, and everything in it. The world and all its people belong to him. (Psalm 24:1 NLT) We must also have a heart of gratitude and trust in the Lord. Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. (1 Timothy 6:17 NIV) I welcome your comments, hearing what has worked well for you, and your successes.
