“And when money failed in the land of Egypt, and in the land of Canaan, all the Egyptians came unto Joseph, and said, Give us bread: for why should we die in thy presence? for the money faileth.”
Proverbs 23:5 reminds us, “…for riches certainly make themselves wings; they fly away as an eagle toward heaven.” No matter who you are, you are going to find yourself in a financial famine. How you prepare before the famine will determine how you come out of it. You can have the mentality that money is always going to be there, but you will one day find yourself scratching the bottom of the financial barrel without any way out of your situation.
The Egyptians found themselves in a financial famine. Joseph prophesied that they were going to have seven years of famine, but nobody listened to his advice. The only one who listened to his advice was Pharaoh. Had Pharaoh not listened, the entire Middle East would not exist today. When the money failed, Pharaoh still had a way to make it and to support those whom he led. You will find five financial principles Pharaoh followed that will help you to survive your financial famine.
First, you need to have storage. Pharaoh stored corn for the day when money would fail. You would be wise not to live off a day-by-day balance in your bank account. If you are barely surviving off what you make each week, you are not going to make it through the financial famine. You need to tighten your financial belt so you can save money to live on when your money fails. This storage is your emergency fund to tap into during the financial famine.
Second, you need to have an investment. In verse 16, these people had cattle they sold for money. Every person needs to have investments they can cash in on when the day their famine comes. No, you don’t want to have to touch it, but it can be a resource to help you through your financial famine. You may not be able to spend as much money you want during the time of plenty because of setting money aside in the investment, but you will be thankful you have that investment when money fails.
Third, you need to have a good work ethic. These people were willing to work just to eat. In a time of financial famine, a good work ethic makes you more valuable than a lazy person. Your work ethic will help you to find ways to make extra money with side jobs to help you pay your bills when you are enduring the financial famine. If there is any reason to have a good work ethic, it is to find a way to earn extra money when your money fails.
Fourth, you need to tighten your spending. In verse 18, these people admitted that they had spent all their money. Stop being frivolous with your money. Learn to live by a budget and be a conservative spender. Conservative spenders tend to find a way to make it when money fails. If you don’t learn how to spend conservatively when money is bountiful, you won’t know how to tighten the belt when money is scarce.
Fifth, you need to downsize and sell. These people were willing to sell anything they had to make it. There are plenty of things in your home you can get rid of to help you during the financial famine. Don’t be tied to possessions. Be willing to sell them when the financial famine comes. These five principles will help you make it when money fails.