A financial crisis never comes alone. It brings uncertainty, fear, sleepless nights, and the shame of being unable to meet one’s expenses. Can faith bring meaning amid financial chaos?
When financial security is shaken, our very identity suffers. Phrases that we once used without much thought, such as “my salary,” “our savings,” and “our house,” become a threat to our sense of self. Once we no longer have enough, we feel insufficient ourselves. But what is really “ours”?
From a biblical perspective, nothing truly belongs to us. Everything we have, from our daily bread to our savings, is a gift from God. “Everything comes from you, and we have given you only what comes from your hand” (1 Chronicles 29:14). According to the biblical paradigm, since we do not actually own anything that we have not received, we are not absolute owners of our resources, but merely their temporary stewards. This view challenges the current cultural norm of measuring personal worth by material goods. However, embracing this perspective can lead to a sense of freedom by relinquishing the illusion of total control, which lies at the heart of the notion that value is equivalent to wealth.
The biblical perspective that “every good and perfect gift is from above” (James 1:17) invites us to manage our money more carefully but doesn’t attack our identity or value. Rather than being a source of anxiety, financial resources become a tool through which we can participate in a mission greater than ourselves. Therefore, in times of financial crisis, we can view shortages not as personal failures, but as opportunities to practise dependence on God rather than money.
If everything is a gift…
Developing such a perspective requires courage in two forms: the courage to swim against the tide and the courage to face the truth, no matter how uncomfortable it may be. Often, when finances become problematic, we are tempted to avoid direct confrontation with reality. We put off opening our banking app, “forget” about bills in a drawer and delude ourselves that next month will be better. However, denial leaves us vulnerable because problems do not disappear just because we close our eyes.
To find viable solutions, we need the clearest possible picture of our financial situation. We can build this picture in three steps: recording all income and expenses, no matter how insignificant; making a complete list of all debts, including interest; and categorising all expenses as either needs or wants. The last step is the most difficult, but also the most revealing. If we approach it honestly, it will help us decide what is truly essential. Basic needs include paying for maintenance, rent, food, medicine, and education. Dining out, exotic holidays, and impulse purchases fall into the “wants” category and can be adjusted or postponed. Once we have gained clarity on where our money goes, we can develop a sustainable strategy for hard times based not on fear, but on the belief that, no matter how much instability we experience, one thing remains constant: the promise that the righteous will never be hungry (Psalm 37:25).
Prioritisation is key to reversing the narrative that keeps us as consumers and to transforming us into stewards of God’s gifts. It takes conscious effort to postpone a holiday or the purchase of a new phone, resist the temptation to order food, or avoid buying clothes that are not necessary. However, rather than being a punishment, this conscious effort is an act of protection and hope-building that transforms us from victims into free agents.
In difficult financial times, setting up an emergency fund can bring peace of mind. Even a modest sum of €5 or €10 per month, set aside regularly, can act as a safeguard against personal financial collapse.
Before we can build an emergency fund, many of us will first need to pay off our existing debts and avoid taking on more when we are in a tight spot. In a crisis, quick loans with high interest rates can seem like a lifeline. In fact, they are traps that create lethal vicious circles. A wise strategy requires patience and starts by paying off the debt with the highest interest rate first. Many people are unaware of or do not understand the benefits of early loan repayment.
Then, in a paradox of faith, there is an element that, at first glance, seems contrary to financial logic in a crisis: generosity. How can you give when you can barely cover your own needs? However, there is a mysterious mechanism at work in the act of sharing what little you have with others. Christ Himself praised the widow who put two coins in the temple treasury—all she had to live on. While her gesture seemed absurd to the world, it was an act of faith in the eyes of God (Mark 12:41-44). When practised deliberately and wisely, generosity is a tacit declaration of freedom: “It is not my shortcomings that define me. They cannot truly hold me back or prevent me from being who I am: someone who helps and shares with others.” We then realise that our financial resources are not our only source of security, which has a profound effect on how we perceive ourselves, making us feel richer in the most important way: spiritually.
Peace in the midst of economic turmoil
The Apostle Paul advised the Christians in Philippi: “Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God” (Philippians 4:6). This shows that the peace a believer can have in austere times does not depend on external circumstances, but on transferring our burdens to God. Rather than viewing the future as a threat, we can begin to see it as an area in which God is already active, even if we cannot yet see the results. In this way, the financial crisis loses its power to push us into a race for survival and propels us into a new stage of our development amidst scarcity. We learn that stability does not come from what we accumulate, but from what our hearts lead us to. This is why the real gain in times of crisis is not to come out of it with money, but with peace.
The great gain in times of instability
The world’s great financial crises have left behind tales of bankruptcy and despair, but also tales of reinvention. The crisis itself has no morality; it is neither good nor bad. What matters is how we respond to it: Do we focus on ourselves through selfishness and isolation, or do we open ourselves up completely in solidarity, connecting with others in need and building support networks? We saw the difference between these options most recently in the pandemic, but the wave of austerity measures imposed by the Romanian government will create new contexts in which we will have to decide how to act.
The financial crisis is becoming a testing ground for our faith and the values we claim to have. In times of scarcity, our true loves and the people we trust are revealed. If money has formed the basis of our identity until now, then losing its security will leave us feeling empty and frightened. However, if God is our foundation, we can stand firm even in the midst of the storm. As Christ warned us, where our treasure is, there our heart will be also (Matthew 6:21).
Ultimately, if we train our hearts to respond with hope rather than fear, we will have gained more than we could have hoped for. This is the true victory that can be achieved amidst instability.
