Key Lessons About Money
What’s the first thing you need in order to handle money and possessions wisely? Proverbs 18:15 holds the key, “The mind of the prudent acquires knowledge, and the ear of the wise seeks knowledge.” Today, we’re seeking knowledge to better manage the resources God’s entrusted to us. MoneyWise host Rob West has some lessons all good stewards should learn based on some of the Bible’s 2,300 verses on the topic.
• One lesson to be learned is to not get bogged down in the little stuff. A penny saved may be a penny earned, but a thousand dollars saved is a whole lot more.
• The next lesson is, “Today counts more than tomorrow.” This one is for procrastinators who think that somehow saving or investing will be easier someday in the future so they put off doing it today.
• “Prepare for the inevitable.” We usually call this an emergency fund and a lot of folks think it’s for “unexpected” expenses. But that’s not really the case. You can and should expect them.
• Next is “Avoid doing too much too fast.” Sometimes people who may have gotten a late start on investing, for example, feel they have to play catch up.
• Finally, “Don’t fool yourself about your spending.” You can’t get ahead unless you live on less than you earn and you can’t do that unless you know what you spend each month.
On today’s program we also answer your questions:
• Will the cost be less if I were to change my representative already appointed in my living will?
• What does it mean to sacrificially give?
• Should I buy my first home with cash (and I’m fortunate to have enough) or take out a mortgage for it?
Ask your questions at (800) 525-7000 or email them at questions@moneywise.org. Visit our website at moneywise.org where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.
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Featured Resources From Faith & Finance
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