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Mar 7, 2013

10 Days of Financial Wisdom: DAY 8

Leaving a Legacy

When my children were teenagers, one of them came to me complaining about how "hard" it was to be a Ramsey kid. She whined about having to buy her own car and learn to manage her own checkbook when her friends didn't have to.
"You cut us no slack," she said.
She was right. Sharon and I did expect a lot from our kids, and we worked hard to make sure they understood the biblical principles of giving, saving and spending. But we didn't do it to be mean. We did it because we want wealth to be a blessing to our children - not a curse.
See, I've checked the statistics, and I know that 100% of humans die. We all have an expiration date in terms of our time on earth, and Sharon and I are no exception. And one day our three children will inherit everything we've built and saved.
I reminded my daughter that the inheritance we pass to her and her siblings will either bless their lives beyond belief or ruin their lives beyond repair. And the difference rests in our ability to teach them how to handle money right now.
I see that truth spelled out in Proverbs 13:22. As a believer, I should be using my wealth to make a difference in the world. But I'm also called to leave a legacy for generations to come. Leaving a legacy doesn't just mean leaving them some money; it means leaving them with the character to manage that money from a biblical perspective.
If you have children, you have legacy responsibilities as well. Make sure you have a will that is current and appropriate for your state laws. It should explain how your assets should be distributed, but it also needs to answer questions that could be asked when you pass - like custody of minor children, your feelings about life support, and your organ donor wishes.
And if you aren't teaching your children how to handle money, you need to start, regardless of their age. After all, the best financial legacy you can leave is a generation of wise and competent stewards.
By: Dave Ramsey

Teaching my kids about money seems like such a far off topic because they are so young but also because what can I teach them when I don't know the answers. After reading this I feel a great sense of haste in that we need to take care of our finances now so we can begin to build for our kids' future. BUT money is not what's it's all about, yes we want to leave our kids an inheritance but more importantly its just one of the things that encompasses overall parenting. I'm constantly reminded that God entrusted me with my children and it's my privilege to decide how I will train them up with hope. If I'm trusting on God to guide me on how to teach me kids about money then that's all I need, Faith! One of my favorite books, Premeditated Parenting the authors explain Parent in a way that teaches your kids how to follow God wholeheartedly, and expect that to bear good and lasting fruit in the lives of your kids. I think this applies to all aspects of parenting, not just money. But

Grace to You,
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