Christian Response to Global Recession

Greed, mistrust and heavy clouds of recession! Some have lost their savings! For some finances have been wiped out! The ripple effects are being felt worldwide. The world is waiting for an economic savior to emerge. As Christians, what is our response to recession? As God’s children we can look to Him for our providence.

Recession is a decline in business activity which results in a slowdown in growth as compared to the past few years where we experienced economic growth. The effects of recession have ripple effects on an average person and the family as a unit. For an average person there would be a dip in sales in the place he works, causing people to lose jobs creating a sense of uncertainty. The uncertainty leads to financial insecurity and conflicts, resulting in loss of peace. Family members work overtime with a fear of losing their jobs resulting in the loss of family time, bringing stress and strain in relationships.

Our wisdom in these troubled times comes from the Word of God. In Deuteronomy 8, God reminds the people of his providence in the past, assures that it would continue in the future but he warns them of the consequence of discontentment and focus on material benefits.

Very often, we think that life is based on satisfying our needs, leading a life style not appealing to God. Such things do not satisfy our deepest longings and very often leaves us empty and dissatisfied. We often take God’s protection for granted and seldom take notice or thank God when our clothes don’t rip, when we have an ordinary meal, or when our car does not break down. The Israelites failed to take notice of all that God had provided for them in the 40 years of wandering in the dessert. They forgot to thank God for these blessings. In times of plenty, we often take credit for our prosperity. Recession is a reminder for us to give God the first priority in our lives and keep our gaze on him.

But remember the Lord your God, for it is he who gives you the ability to produce wealth, and so confirm his covenant, which he swore to your forefathers, as it is today. Deuteronomy 8:18. Deut 8:1 – 6 - reminds us of God’s providence in the past; Deut 8:7- 11 - gives us hope for the future; Deut 8:12-20 - explains the outcome of loosing focus on God and being content with our basic needs and worldly security, the consequence would be God’s wrath. A strong reminder indeed for our times!!

Overcome recessional fear by taking inventory of your financial status. Review and check your income, giving, loan repayments, tax liabilities, expenditure, and savings and build sufficient reserves. Have enough savings to meet three to six months of family reserves. Try writing down everything you spend in a month. By writing we may discover several items and services that we can do without. For example, if you are spending Rs. 30/- a day on a drink or snacks at work or school, cutting out just that one expense could result in Rs. 600/- of extra money to invest or save over the course of one month, or Rs. 7200/- a year!

Often the desire for more or better possessions is really a longing to fill an empty place in a person’s life. There are people who have won millions and then lost it all. “I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.” Philippians 4:12

The wisdom from Solomon is even clearer, Do not wear yourself out to get rich; have the wisdom to show restraint. Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle. Proverbs 23:4-5
 
Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law. Romans 13:8. The question that often becomes our focus is - How much debt is safe in times of recession? Answer - Monthly debt payments should not exceed 30% of your gross income (before tax and deductions). Postponing major investments and purchases if in debt would be ideal. In case you have excess cash reserves, this may be a good time to invest too. But remember what the scriptures say, “The wicked borrow and do not repay, but the righteous give generously.”
Psalm 37:21

When times get rough and money gets short, it is necessary to cut back on discretionary spending. The LORD Almighty says: Give careful thought to your ways. You have planted much, but have harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it. Haggai 1:5-6
 
All our material riches will avail us little if we do not use them to expand the opportunities of other people. Giving is returning to God what He already owns. ”Giving is a result of spiritual growth, not a cause of spiritual growth. God can have our money and not have our hearts but he cannot have our hearts without having our money.” Kent Hughes

Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. II Corinthians 9:6-7

Seek Advice: Seek Advice from a professional who can consider the facts of your individual situation. Above all remember the 2D’s – “Depend Upon God” and “Dedicate it All to God.”

In moments of insecurity and anxiety the voice of Jesus is an echo to us filling us with the hope “Peace, Be still”. A God of all possibilities is in control – Sovereign, Omnipotent, Counselor, and Prince of Peace. Financial kingdoms, economic empires may come and go but we have Christ as our rock and refuge. We can be a channel of blessing by first determining the purpose for our life and then become a channel of God’s blessing in this time of recession by restoring hope to those who have lost their livelihood and homes and pray for peace and healing to families and couples whose relationships have been strained.