Being a NEXUS Peer Coach over the past few semesters has been an amazing opportunity that has taught me a lot. The thing I didn’t realize, though, is that even with the same information and the same teaching and training each semester, I would be learning new things every single day. At the Ron Blue Institute NEXUS Financial Discipleship Center, we have what is called the 5 Wise Principles. Those consist of spending less than you earn, avoiding the use of debt, giving generously, planning for the unexpected, and setting long-term goals. I have taught these 5 principles to students for just over six semesters. In those six semesters, I have had a ton of opportunities to live these out. I would love to say that it has been easy, but it has NOT. However, it is extremely rewarding over time if you stick to it, and I would love for you to experience the contentment brought by following these principles. So, I would like to take a moment to share my journey as an encouragement to you!

I find it extremely hard to spend less than I earn because of my fear of missing out along with not making a lot of money, but you must accomplish this principle in order to reach the others! I have seen when I am disciplined, I can work towards things that I want to accomplish, my savings begins to build, and I feel more content.

Avoiding the use of debt has been difficult for me. I view debt as anything I owe to someone else. I have student loan debt that I am paying off, and while recently I have paid off my credit cards each month, any amount I charge to the card is a debt I must repay as well. My student loan debt is now decreasing slowly thanks to the government deferring required payments and accruing interest during COVID, but the debt that gets me is my credit card debt. A viewpoint that I am getting out of is that if I don’t have enough money, I can use my credit card and pay it back later. This has bitten me because if you consistently “don’t have enough,” the credit card balance continues to get larger, and it turns into a snowball that gets bigger and bigger. Avoiding the use of debt allows you to not get caught in that dangerous cycle.

Giving generously has been something that I have been creative about. Something that I have done to supplement some income has been donating plasma. I have used some of the plasma donation money to give to the church, missionaries, local ministries, and people going on trips to do ministry. I am not saying, “go donate plasma to give more.” For me, it was a way that I found to give above my tithe while still having enough to pay my bills. This area will look different for everyone.

Planning for the unexpected is probably my least favorite thing for which to plan. I mean, who really likes paying for something that has broken or gone wrong? For me the unexpected could also mean unexpected giving opportunities and times to hang out with others; therefore, I have recently added some unexpected giving funds along with unexpected social gatherings to this category. This allows me flexibility, yet I still cannot spend more than I have saved for these areas so that I stay on track to complete my goals. While we often don’t like to admit it, we all have “the unexpected” that come up in our lives. Planning for it is both wise and can help provide security and contentment.

Setting long-term goals has been fun and rewarding, but also difficult. This is because I can set any goal in the world, but then it is up to me to be disciplined to work towards and achieve those goals. While it is fun, it can also be easy to get distracted when “short-term” opportunities come up. I often have to remind myself that there are unlimited opportunities to spend money, but limited resources for which to use on those opportunities. Knowing this makes us face the reality that we must think through our priorities in accomplishing goals and how  quickly you want to accomplish them.

These five wise principles are something that I am working at and continually getting better every single day. It has been important for me to keep these principles at the forefront of my mind before I make any spending decision. I would encourage you, take control of your financial journey instead of it controlling you; the time is now! Put these principles into practice, and I promise you will begin moving toward the things you want to accomplish!