2008 Resolutions to save money
Son,
Budget, budget, budget. Plan, plan, plan. Then execute the planned budget with resolve. There are some general rules – and some specifics. For someone with no plan – plan. For someone with a plan, expand the plan.
But why save – what is the purpose? There are many reasons – retirement, security, education of children… But these are so boring. And some would say selfish. What does the Bible say – buy a coat, give a coat. I suppose in an ideal world we could all share everything we have and never have to worry about saving – but this is the real world – where others will not necessarily share with us when we have nothing. So save your money.
One of my fears is that I will one day become a burden on my children. My children will feel compelled to take care of me. That day will be my worst nightmare – I suspect I would have two dominant feelings. First would be guilt for putting the burden on my children. Second would be a bruised pride. And third would be total contempt for the decisions made – I cannot imagine that I would agree with the choices made on my behalf. So if I want to maintain control of my own life – then I must be prepared.
First – resolve to save. If you save nothing – resolve to save something. Start with four or five percent of income, next year you can raise the amount to ten, then more. But save. Initially it will seem quite impossible. People say, “I can’t pay my monthly bills now! How could I possibly save?” Well, you can.
Investments – All of us do not have to be authorities in investment strategies, and we should recognize that we are not authorities. Find a stable investment manager – conservatives will want to go to the trust department of their local bank – but the point is to get advice from those who know.
I am not Dave Ramsey or Joel Osteen. I am not a financial adviser. But I believe in saving – and I don’t think the idea contradicts any church or faith ideology – if it does – find a new church.
Start with a few resolutions:
I will save five percent of my income.
I will invest my savings wisely.
I will prepare for long term security.
Let’s examine this issue further in future posts.
Dad
Comment by Daniel on 3 January 2008:
Hey Ohg Rea Tone,
For me, this issue is not nearly as simple as you make it seem. 🙂 You wrote:
“…I believe in saving – and I don’t think the idea contradicts any church or faith ideology – if it does – find a new church.”
May be true…I would just like to add that there ARE verses regarding saving money in the Bible. They seem to go more the other way for me, but I haven’t figured it out yet.
Look up and read the passages about “Do not lay up for yourselves treasures on earth, where moth and rust destroy and thieves break in and steal” and (I believe it’s in the same context?) “If God clothes the lilies of the field, will He not also clothe you…”
Does this mean that any saving is against the teachings of Christ? Personal opinion? No. My wife and I still save some money…two reasons mostly. 1) Her work has a 401K matching program and I believe it’s just stupid not to claim that money, and 2) We probably will buy a house in another couple years, and we want to be able to put down a large amount on the house so as to not go into a huge debt.
I just write to remind that the Bible does speak of debt, of saving, of riches, and of giving. And we must not conclude that, because we live in a totally different society today, all of these verses don’t apply. Let us at least encourage people not to build bigger barns. Let’s “command the rich” (I Tim) to give, to be generous and to not be selfish with their money when Jesus is dying in Haiti. Let’s remember that sometimes our Lord asks us to be idealistic in a real world as we bring His radical Kingdom to our cities.