By Ruthven Phillip

ne of the most covered topics in the news today is inflation. Economists define inflation as “a decline in the purchasing power of a given currency over time.”

It can also be described as the rise in the general level of prices, which means that a unit of currency effectively buys less than it did in prior periods. If you have recently filled your vehicle with gasoline or visited the supermarket, inflation is no longer some abstract or obscure economic theory. It’s a pragmatic and practical global experience impacting our daily lives.

Because of inflation, you now put thought into your commute or travel experience. Because of inflation, you now list and order your grocery needs by priority. Because of inflation, so many of your financial decisions have changed.

But what about your spiritual life? Could inflation cause an awakening of your faith, reliance and trust in, dependence on, and your communication with, God?

Faith-Based Budget

For years the financial experts have said creating a budget and living within your means is critical to being successful. But what happens when inflation meets your budget, absent faith? As necessary as having a budget is—and I believe in having one—a budget is nothing more than a tool used to assist you in becoming a better steward. The budget should not rule our faith. It should be the other way around. You can’t have more faith in the budget you create than in the Creator Himself!

For so many, when budgets meet inflation we either create new budgets or put our faith- giving on the chopping blocks. It is much easier to chop the unseen versus the seen; the intangible versus the tangible; the invisible versus the visible; and the miracle versus the unremarkable.

If nothing else, when your budget meets inflation it should ignite and re-engage your faith about what should be on the chopping block. If your budget is not built on faith, then on what is it built?

Your Storehouse

Has inflation shined a light on your resources and made you realize that what you have accumulated in your personal storehouse is not enough, and that it is never going to be enough?

Let’s revisit that earlier definition of inflation: “A decline in the purchasing power of a given currency over time.” Here is where inflation intersects with your financial prayer life over time.

Like any investment, the longer your leave it, the more compounding of the interest, the greater the return and the less inflationary impact on your earnings. Consider the power and protection promised from the compounding financial blessings earned stemming from a committed financial prayer life and stewardship over your resources. I assure you, it will provide a shield against the dire predictions of economists. Your money may have less purchasing power over time, according to economists, but God’s trademark is His practice in deficits! Why not develop a financial prayer life conversation with Him during these inflationary times?

Ruthven R. Phillip, Esq., is a tax attorney, Stewardship and Philanthropy Ministry Advisor, and CEO of Give2Getrich, LLC Give2Get Rich, LLC 2022. All Rights Reserved. Any distribution or reproduction of part or all of the contents in any form is prohibited.