Welcome to Day 1 of our 10 day study following Dave Ramsey's Financial Wisdom from Proverbs. The focus verse of today is Proverbs 27:23 Know well the condition of your flocks, and pay attention to your herds.
The connection: The oldest form of money is probably livestock and plant products. Domestication of animals had begun long before civilizations began; so too had farming, and initially, cattle and grain were two very common mediums of exchange. Gradually a newer, more common, form of money came in the form of metals. Eventually coins were invented in Lydia, which were made of metal. Its usage was quickly adopted by many of the Greek states, and so on to today where we use money as the most convenient form of payment. To know you flocks is the same today as knowing your $$ amount in your bank account.
Dave Ramsey's main points for this study are:
1. Money is active! The most important thing is to know what you have and what you're doing with it. Manage your money well.
2. Build a monthly budget on paper to: get out of debt, have an emergency fund, save for the future.
3. "Money, if properly trained (like a thoroughbred horse) is a beautiful and powerful thing. But left on its own, can become wild-even dangerous!"
I truly need to read this study and take it to heart. My biggest problem with money is not counting it! I'm not naturally a good planner so if I have $100.00 in my wallet I usually find a way to spend it! (cough Target) Instead of thinking about the future, even just one week out I regretfully use the funds.
Dave Ramsey teaches to use only cash because studies have shown when you pay with cash typically you pay less.
However, for me money is spent either with or without plastic and let's just say I can go through it, quickly.
My personal goal for this week is to keep money in my wallet and train myself to not spend it. Why? Because if I leave money at home then obviously I won't have it in hand to spend it. BUT if it's in my wallet well then I have to force myself to manage money!
Long ago a friend told me and my husband that he and his family were at a store with a whole shopping cart full of stuff, not anything important or needed--came to their senses and left the full cart and the store without buying a thing. Seriously this should probably be a regular occurrence for most of us but all too often we just spend. Do we need it, nope. Do we want it, yup. Will if affect our eternal salvation? Well...Here's where that question get's sticky. If you idolize money and buying buying buying, then yes you're sinning. Most of the time this isn't the case but I reckon that if I (we) truly evaluate ourselves and our spending then half the time the purchase, even if 'it was on sale' is not worth it.
My prayer is this,
Lord teach me to be wise with money. Control my desires and help me to focus on You instead of my what my flesh wants. Lead and direct every decision I make financial or not and to implement what I've learned today with the wisdom you've granted me.
Psalm 2:1-6
My child, if you accept my words and treasure up my commandments within you, making your ear attentive to wisdom and inclining your heart to understanding; if you indeed cry out for insight, and raise your voice for understanding; if you seek it like silver, and search for it as for hidden treasures--then you will understand the fear of the Lord and find the knowledge of God. For the Lord gives wisdom; from His mouth come knowledge and understanding.
So many times its unclear of what decision to make in many life circumstances but when it comes to money the answer should be simple. Do I need it? Will I regret buying this later? Do I need the more expensive item? How will this purchase effect my future and the future of my family?
One final thought from Dave Ramsey, "Know the condition of your flocks and pay attention to your herds. If you don't manage your money, the lack of money will always manage you!"
Grace to You,
Jenna
