7 Steps Create YOUR Financial Reset

With prices going up every day, it’s hard to keep a good attitude. Do you lie awake at night wondering how you’ll pay the bills? Do you find yourself consumed with concern over income and ways you can make more? Do you worry that your financial future looks dim as far as retirement?

Well, let’s address worry first. And please know, I am speaking to myself as I write this. I‘ve had my share of sleepless nights and rising concern and worry. So, I am not writing as one who knows it all, but as one who struggles with you and am attempting to make a paradigm shift myself as well.

Firstly, I think it’s important to remember that God is in control and we can trust Him. I think we have to start there. If you belong to Him, because of your faith in Jesus Christ, then you are His child. He loves you and somehow in ways only He can know, no matter what happens in your life, this is His promise, “And we know that God causes everything to work together for the good of those who love God and are called according to his purpose for them,” (Romans 8:28).

Secondly, there are three verses I firmly stand on in faith believing:

And God is able to bless you abundantly, so that in ALL things at ALL times, having ALL that you need, you will abound in every good work. (2 Cor. 9:8 Amp emphasis mine)

And my God will liberally supply (fill until full) your every need according to His riches in glory in Christ Jesus. (Phil. 4:19 Amp)

“Now to Him who is able to [carry out His purpose and] do superabundantly more than all that we dare ask or think [infinitely beyond our greatest prayers, hopes, or dreams], according to His power that is at work within us, to Him be the glory in the church and in Christ Jesus throughout all generations forever and ever. Amen.” (Ephesians 3:20-21Amp)

God does not change. He is not fickle either in His love or His promises and that is why you can trust Him. We are told, “…He never changes or casts a shifting shadow,” (James 1:17).

So, with those thoughts in mind here are some TIPS and STRATEGIES Reen and I use to help you navigate the current economic difficulties and create YOUR Financial Reset:

1. Update Your ExpectationsThe biggest mistake people make right now is budgeting based on what things used to cost. Inflation has added roughly 25% to everyday expenses over the past five years. If groceries were $100 a week, now they are $125.  Go category by category and update your numbers with what you actually spend, not what you wish you spent.
   
2. Meal Plan Before You Shop
   Consistent meal planning is the most powerful tool for reducing food costs. Families who shop from a written plan consistently spend 15–25% less per trip, because it usually eliminates impulse buys and purchases they never use. How to do this: check your fridge and pantry first, plan 3–5 dinners around what you already have, write a list, and stick to it. It is statistically proven that buying produce in season and choosing frozen vegetables can cut produce costs 30–50% further.
   
3. Rethink Eating Out
   As I shared above, restaurant prices have really climbed.  A few strategies make a real difference: Eating out at lunch instead of dinner typically saves 20–30%, since lunch menus are priced lower. Eating out on weekends costs more as well. Look for midweek specials where restaurants try to attract customers for low traffic days or times. Also, ask for a Senior menu as many restaurants now feature that possibility. Choosing to cook one of your restaurant favorites at home once a week instead adds up fast in savings…a single home-cooked dinner in place of a restaurant meal can save $50–$80 a month for a couple.
   
   When you do go out, skip appetizers, sodas, and alcohol, which carry the highest margins. Reen often brings pre-packaged powder drink packets (like Crystal Light) to flavor his water. Take advantage of early-bird specials or loyalty rewards programs. If you are a veteran or senior, ask for appropriate discount which can be 5-10%. Look for special coupons on Groupon and savings apps.  I know we apply these tips and strategies without any hesitation!
   
4. Move Your Savings to a High-Yield Account
   If your emergency fund is sitting in a traditional savings account earning the national average of 0.38–0.61% APR, you’re leaving money on the table. High-yield savings accounts (HYSAs) currently offer rates of 3.1–5.0% APR, up to eight times more with the same FDIC insurance and easy access to your funds. (We put some money in a CD for a year and made money on our money). A $10,000 emergency fund earns about $38 a year at the average bank rate but over $300 in a quality HYSA. Look for accounts with no monthly fees and no minimum balance requirements. Most financial experts recommend keeping 3–6 months of essential living expenses accessible in an emergency fund; a HYSA is the best place to keep it growing while it waits.
   
5. Pay Off Debt Consistently
   High-interest debt, especially credit cards, is one of the fastest drains on a tight budget. Two proven methods: the Debt Avalanche (paying the highest interest rate first, saves the most money overall) and the Debt Snowball (paying the smallest balance first, builds momentum and motivation). Both work; the best one is whichever you’ll actually stick to. While paying down debt, avoid opening new credit lines, and put even a small emergency fund ($500–$1,000) in place first.  Without a cushion, an unexpected car repair or medical bill sends you right back to the card. Once debt is gone, redirect those same payments into savings or retirement.
   
6. Pay Yourself First Automatically
   One of the most reliable saving strategies is removing the decision entirely. Set up an automatic transfer to your savings account on the same day your paycheck arrives, even $25 or $50 a week adds up to $1,300–$2,600 a year without any ongoing willpower. We’re starting this one tomorrow…never thought of it. The key principle: decide how much to save before deciding how much to spend, not after. Pair this with a clear goal (emergency fund, debt payoff, retirement contribution) so the number isn’t arbitrary. Many employers allow you to split direct deposit between accounts. Being sure a fixed amount goes directly to savings means it never touches your checking account.
   
7. Audit Your Subscriptions and Online Spending
   It’s never been easier to shop online… or to unfortunately pay subscriptions unknowingly. Online shopping and subscription creep are quiet budget killers. Do you know how many online streaming services you’re paying for monthly? How many app subscriptions have you forgotten? What recurring charges for things you no longer use still steal money from your bank account or credit cards? Be on the alert. For online shopping, delete shopping apps from your phone, clear browsing cookies to reduce targeted ads, and implement a 24–48-hour waiting rule before purchasing anything non-essential. Ask Google or You Tube if you’re unsure how to do these things. For safety use a credit card instead of a debit card to catch fraud or scams. (We recently had an issue where our credit card company system automatically suspected a scam and declined the payment. Boy, were we grateful because it did later turn out to be a scam.)

Make these simple changes and create your own financial reset. The freedom from stress and anxiety you will feel and powerful, positive sense of accomplishment is worth it! We’ll pray for each other in the process!