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Feb 27, 2013

10 Days of Financial Wisdom: DAY 1

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!"

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