There are many ways to reduce costs in our every day lives, so to help do just that each Monday I will post a money saving “Tip of the Week”.
This weeks tip involves…the benefits of financial fasting!
What is fasting?
Noah Webster originally defined fasting as “The act of abstaining from food.“ In his definition Webster also said of fasting that it is, “a day of religious mortification and humiliation.” While voluntary abstinence from food is indeed the prime example of biblical fasting, today I challenge you to apply this concept to your finances, that you may benefit.
The following areas of your life can all be greatly influenced by a voluntary decision to abstain from normal activities.
- Your personal finances – regular abstinence from all spending is a fantastic exercise for all of us.
- Your health – voluntarily abstain from food one day a week has been shown to be very beneficial to the health of your digestive system.
- Your spiritual well-being – the main focus of any fast should always be to get closer to the Lord.
Effects of Financial Fasting…
Though I could go into an enormously long post explaining all areas of fasting, today I will focus solely on the benefits of fasting as it relates to our personal finances.
My wife & I recently discovered how hugely beneficial financial fasting can be. During the month of March we decided to fast from spending altogether! This may not seem like that big of a challenge at first, but when you stop to consider & meditate on not spending any money for an entire month…you will begin to understand the enormous effect such a decision would have on your life!
Shortly after starting the fast we quickly realized we were not only saving a lot of money, but were also noticing the following effects:
- We are much more thankful for what God has entrusted us with, and much more in tune with the fact all our possessions are not ours…but His.
- We are much more patient with those who provide services.
- We are much more aware of how much money we were spending unnecessarily.
- We are much more excited about “going out to eat” and no longer take it for granted.
- We are much more disciplined about how we will spend our money from here forward.
Although I would encourage you to start with a month long financial fast, that may be a little much for some people. If it seems overwhelming to you then start with a day long, or week long fast. Keep in mind that the longer you fast the more beneficial it will be.
Are you going to commit to a financial fast? Have you participated in a financial fast in the past, what did you discover? Leave your comments…
Click here to see all our past DFA Tips of the Week.