Then, stop doing the non-essentials. This may not be the best time to go on expensive vacations or try out that new restaurant.  Presently, Bonnie and I have cut way back on all of our spending. We aren’t going on long trips as often. We are eating most of our meals at home. We’re spending more time in the evening playing Scramble than going to shows.

6. Don’t give up on the plan to move.  Granted, if you live in a $300,000 home, it is probably worth less than that right now. But, if you were already planning to move to a smaller, less costly home, this might still be the best time to do it. Why? Because, even though you may take less for your present home, the other house may be equally devalued. Thus, although you sell low; you may also get the benefit of buying low and reducing your overall costs.

7. Consider postponing your Social Security payouts.  If you were planning to begin pulling money out of Social Security before your fully qualified to take the full benefit, try to develop a plan that will allow you to earn enough income to avoid this in the meantime. Experts point out that if you wait until age 66 to begin Social Security withdrawals (instead of starting them at 62) you’ll increase your monthly income by roughly a third. Of course, as with all these thoughts, your situation is unique. Go to for more on Social Security, and consider talking to a qualified pro about your personal situation.

8. Finally, remember, we are God’s kids.  As the old song says, “This world is not our home, we’re only passing through.” Paul promised in Romans 8, that “all things work together for good to those who love the Lord and are called after His purpose.” This is a wonderful opportunity for Christians to witness to a worried world.  Despite the present circumstances, we know Who will win the final war.  This can be a time of victory!

Published February 16, 2009

Steve Diggs presents the No Debt No Sweat! Christian Money Management Seminar at churches and other venues nationwide. Visit Steve on the Web at or call 615-834-3063. The author of several books, today Steve serves as a minister for the Antioch Church of Christ in Nashville. For 25 years he was President of the Franklin Group, Inc. Steve and Bonnie have four children whom they have home schooled. The family lives in Brentwood, Tennessee.

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