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,

Jenna 

10 Days of Financial Wisdom: Day 7

Working Together 
 
When I read Psalm 31: 10-31 I feel like God is talking directly to me. I replace she and her with my name as a way to motivate myself to be the women God has given me the potential to be. The only thing I need is to value the words of my King over the words of my flesh. Easier said then done right? Does the wife in this passage have a name? NO, and I think the reason is because it can be applied to every wife. The verse says she's a diamond in the rough and I know this to be true but it doesn't mean that every day when I wake I can't pursue this goal. All the things in this passage are the qualities God admires.

Today's verse focuses on Psalm 31:10. When you read this verse you can either A: feel like you're not anything like this gal or B: think of it as a way to humble yourself and ask your spouse some hard questions. Do you possess any of the characteristics of this wife? How will he answer? Don't be offended, look at it as a way to grow in your marriage and in your walk with Christ.

Now on to the Dave Ramsey lesson:

I'm a financial person. My wife, Sharon, is not. So maybe you can imagine my surprise several years ago when I discovered that she actually had some opinions about money. But what really got me was how often I was wrong and she was right!

Sharon fits all the ideals of a genteel Southern woman. She never pushes to get her way, but she does tend to have "feeeeeelings" when it comes to big decisions. At first, I never paid much attention to those feeeeeelings. But after my personal pride left our family bankrupt, I learned to trust them.

Now, I won't make a major move without Sharon's insight. For example, in the early days of my company, I wouldn't hire anyone before they had dinner with Sharon and me because I needed to hear her input and wisdom. That's something I've passed down to my leadership team today. Our company doesn't hire anybody until they've completed a spousal interview with the department leader and his or her spouse.

I really believe Proverbs 31:10–11 is a prescription for wise financial decisions. If you're married, you and your spouse are one. If you run off and make a huge purchase or sink money into an investment without talking with your spouse, you're only operating with half your brain!
And the results are rarely a blessing. Every time I've made a major decision without Sharon's advice, it's caused me huge amounts of heartache - and cost me lots of money!

If you're single, you can rely on your accountability partner to play that role in your life. Either way, the point is to get outside your own head, share the plan out loud, and let others tell you if they think it's a bad idea.

I'll admit that talking about money can cause some disagreements, but that's normal and healthy in a marriage. Just remember that your spouse is not the enemy. In fact, God has placed the two of you on the same team to make each other better. And who knows - if you can agree on the checkbook, the only real fight left may be over who gets the remote.
 
 This is really encouraging for me. I need to stop looking to myself for financial advice because hey let's face it, I'm not doing so well. However, having conversations about money is a commonly procrastinated topic until just the last few months. Luckily my hubby and I agree that we need to talk about money and start telling it where to go but like everything it's gonna take practice. We aren't going to wake up tomorrow and become penny-pinchers but my goal is that as I grow and learn about money then I can baby-step my way into becoming totally healthy with money alongside my spouse. 

If you like this reading plan so far, feel free to join in with YouVersion. It's an app Bible for your devices and in addition to keeping your Bible with you anywhere you can read this and many other great short reading plans. Just go to www.youversion.com and look up Bible reading plans.

Grace to You,
Jenna   

10 Days of Financial Wisdon: Day 6

Secret to Success
On the first day of every year, people make resolutions about how things are going to be different this time around. Unfortunately, few of those resolutions ever make it to January 7.

For example, polls consistently tell us that two of the top resolutions involve losing weight and managing money. But every year, the results are the opposite of what we hoped for: Our waistlines get bigger, and our net worths gets smaller!

To be honest, resolutions are a joke! We know life would be better without extra pounds and credit cards, but we just can't say no. Why can't we follow through with our January 1 resolutions? Because without teeth, resolutions are nothing more than wishes we make to ourselves.

We can give them teeth by sharing them with someone else. It's called accountability, and it's one of the most powerful motivators for change you can imagine. In Proverbs 15:22, Solomon challenged his readers to build accountability into their lives. He understood that the worst crashes often happen when we're flying solo. We can make a lot of plans, but the chances of failure increase when we try to go it alone.

On the other hand, "many advisers" (otherwise known as accountability partners) lead to success. When we are willing to hear and heed the advice of others, we can prevent a landslide of future headaches.

Of course, that doesn't mean we let someone else run our lives or that we have to follow through with every suggestion. But it does mean that we let others speak into our lives and - for a moment, at least - entertain the idea that we don't know everything about every situation. We're teachable.

Who are some people you trust? Family members, lifelong friends, pastors, fellow church members, leaders and co-workers can all serve as guides for your money questions. Find a few key people and let them help you reach your financial goals.
Don't set yourself up for failure. Accountability is biblical … and it works!
By: Dave Ramsey

I struggle with this kind of accountability but know that ultimately it is exactly what I need. There is no veil when it comes to being accountable for your actions when spending money. Sometimes I have anxiety about sharing where I am really at with other women but it always surprises me when they either understand exactly where I'm coming from or they've already been there and can offer great words of wisdom. I found the key to these kind of relationships is really to trust people and combine that trust with wisdom to know when to follow their advice or maybe just a piece of it. 

If you would like a short and simple study like this one but not related to money, but other main mom topics YouVersion offers a wide array of reading plans for your Bible.  
Plus...
Here are just a few of the new Reading Plans you might want to try:

• The Overflow presents new video devotionals from artists such as Casting Crowns, Matthew West, Rhett Walker Band, RED, Sho Baraka, and more! Various lengths
• Dave Ramsey’s Financial Wisdom from Proverbs takes you through ten practical, biblical steps to help you start getting your finances in order. From trusted voice on money and business, Dave Ramsey. 10 days
• New City Catechism video series offers a collection of questions and answers teaching foundational theological principles. Designed to serve both children and adults. From The Gospel Coalition and Redeemer Presbyterian Church. 20 days

Follow along with me as I discover knew things about God's word every day!
Blessings,
Jenna

10 Days of Financial Wisdom: DAY 5

Gazelle Intensity!
"I never knew much about gazelles. I never really gave them much thought - until I read Proverbs 6 one day in my quiet time.

Of course, any biblical reference to debt catches my eye. And if the Bible offers a way to escape debt, I want to know the secret! But when I saw that this answer focused on gazelles, I was a little confused.

I was looking for a great spiritual principle, and God gave me animal metaphors!
God must have known I needed some help because He gave me a little more insight later that day. I was watching a nature documentary, and guess what showed up? Gazelles! Of course, you know the gazelles weren't out there all alone! Before long, Mr. Cheetah showed up looking for lunch. Suddenly, God had my attention.

The cheetah sprang into the clearing, and the gazelles took off in 14 different directions. Now, a gazelle can't outrun the world's fastest land animal, but it can zigzag around long enough to wear him out. And that's exactly what happened.

I learned that cheetahs rarely win these races. Because the gazelle is so focused on doing whatever it takes to survive, the cheetah only catches it about once in every 19 attempts. That's what I call intensity!

That documentary helped me understand the gazelle reference in Proverbs 6:5. The only real way to beat debt is to be intense! You've got to work hard. You've got to fight for survival. You've got to run for your life!

The truth is, you will never wander out of debt. You won't stroll out. It won't happen by accident. You only get out if you set your eyes on the goal and attack your debt with gazelle intensity!"
By: Dave Ramsey

After reading through today's lesson I realized something new: Gazelle intense looks different for me then maybe another family. After reading the book The Total Money Makeover and hearing about family after family of being Gazelle intense and getting out of debt while dad works crazy hours and mom brings in income too I thought, 'man my husband already works crazy hours and really feel God has led me to be home with my kids, how can this happen?' Ramsey says the gazelles went in 14 different directions. So what gazelle intense looks like to one family might not look the same for my family. However, the point is keep your get-out-of-debt goals VIBRANT AND ALIVE.

The one thing I've learned about parenting from others is consistency is the key. Well now I'm seeing that consistency is the key to everything, including money.  Gazelle intense for me means chipping a little off many areas: groceries, clothes, presents, travel (so less on gas), and so on to end up with a few extra hundred dollars toward saving and debt. After setting a budget that seems like too little and hitting that budget I hope to learn and see that living with much less is possible while breaking down our debt. Making more money (right now) isn't the answer for my family but cutting back on our budgets is practical.

Link up with this study and many great others with YouVersion.

• Dave Ramsey’s Financial Wisdom from Proverbs takes you through ten practical, biblical steps to help you start getting your finances in order. From trusted voice on money and business, Dave Ramsey. 10 days 

Leaning on God for provision and wisdom,
Jenna

10 Day of Financial Wisdom: DAY 4

Slaves to Debt

"After nearly three decades of talking to people about money, I've figured something out. If you tell a lie loud enough and long enough, people will begin to believe it's true. Even if they know in their hearts that the myth is complete bunk, they'll live as if it's real.

These days, there's a big myth that's fooling a lot of people. It's the myth that debt is an effective part of their financial plan. Credit has been marketed to us so effectively that most people think they can't live without it. They think it's a good thing, a necessary thing. And they think anyone who lives without debt must be crazy!

Well, I've been called crazy before, and I'm okay with that. When it comes to debt, I don't want to be normal. And I'm in pretty good company because King Solomon - who knew a lot about money and wealth - felt the same way.

In Proverbs 22:7, he was adamant about avoiding debt. Why? Because he understood what so many people today totally miss: Debt enslaves us!

The Bible says that the borrower is slave to the lender. That's pretty strong language, but it's totally on target. Think about it. A slave can't give because he doesn't have anything. He can't go where he wants to go or do what he wants to do because he always has a master calling the shots. That's exactly how it feels when you're up to your eyeballs in debt. Hey, why do you think they call it MasterCard?

Solomon knew what he was talking about. This guy was the wisest man who ever lived! He didn't use the word “slave" by accident, and he wasn't being overly dramatic. He was just showing us what debt really is: a cruel master."
By: Dave Ramsey

I am really enjoying the positive affirmation this study is bringing me. If you'd like to follow along with this 5-minutes per day study go to YouVersion. Create a free username and password. YouVersion is an app for you smart phone, tablet or computer.

Here are just a few of the new Reading Plans you might want to try:

• The Overflow presents new video devotionals from artists such as Casting Crowns, Matthew West, Rhett Walker Band, RED, Sho Baraka, and more! Various lengths
• Dave Ramsey’s Financial Wisdom from Proverbs takes you through ten practical, biblical steps to help you start getting your finances in order. From trusted voice on money and business, Dave Ramsey. 10 days
• New City Catechism video series offers a collection of questions and answers teaching foundational theological principles. Designed to serve both children and adults. From The Gospel Coalition and Redeemer Presbyterian Church. 20 days

To check out all of YouVersion’s newest plans, visit the main Reading Plans page at Bible.com or look in the "New" category inside the Bible App.

I hope, like me, you're gaining little tidbits of information and advice that's helpful to your life.

Jenna