Tag Archives: Money

Money Gifts to Kids: 3 Rules Every Parent Must Follow


Rule 1: Let your kid have total control of 50% of the money. And I do mean total control. Do not suggest how it can be spent (or saved). Do not judge the choices your child makes. Let your child learn through personal experience. What they learn today will impact financial choices they make in the future.

Rule 2: Have your child save 40% of the money. You want to tie this to specific goals. I personally think every child should be saving as much money as possible for college, even if it is 10 years away. This is a natural way to start talking in an age appropriate way about the cost of an education, and how as a family you plan to tackle it. Or if you anticipate your child will want a car, have them start saving up now.

Rule 3: Give your child the gift of giving. At least 10% of the money should be donated to charities. This is a fantastic opportunity to talk as a family about the importance of helping others, whether they are in our neighborhood or halfway around the globe. If there is a local charity your child wants to donate to, I would highly recommend an in-person visit to drop off the contribution.

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Money Decisions

money decisions

1. Accept admission to the most expensive college that accepts you even though you have no idea what your career will be or how much you’ll earn.
You are not doing yourself any favors by attending an expensive school that may saddle you with tens of thousands of dollars in student loans until you have a clue as to what you may be doing for a career. Until you find your passion, keep expenses in mind and consider a lower-cost university or community college and limit the amount of loans you secure.

2. Get married without checking your fiance’s credit report.
Show me yours and I’ll show you mine. I know it’s not very romantic, but neither is finding out you won’t be able to buy a home when you wanted because your spouse has horrible credit and a large debt load. Knowledge is power. You owe it to yourself (and your intended) to find out what financial situation you are marrying into before you say I DO.

3. Apply for a job without first checking your credit report.
Like it or not, many employers use the information contained in applicant credit reports as part of their selection process. You don’t want to be surprised by a question about your finances in an interview. Or worse, never get to be a finalist because of an inaccurate or explainable negative item from your credit report. Remember, 25 percent of all credit reports have errors!

4. Don’t save for emergencies because you can’t afford to.
This is an oldie but a goodie. No emergency savings means you are setting yourself up for debt. You can’t be the master of your finances if you don’t have a savings cushion in place.

5. Take out a payday loan just until you get paid next week.
The payday loan cycle is very hard to break. If you didn’t have the money for that unexpected expense this paycheck, why do you think you will have the money next paycheck? Look for alternatives to fund the expense such as selling something you don’t need or borrowing from a friend or family member.

6. Purchase a car with little or no money down.
Cars immediately depreciate in value by as much as 25 percent in the first year. Without a large down payment to compensate for depreciation, you’ll be upside down in your loan quicker than you can text JLM!

7. Co-sign a loan for a friend or relative to help them out.
Never, ever co-sign a loan unless you can afford to and want to make their payments for them, period! Unless, of course, you never want to speak to them again.




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I find within my members a temptation to live outside the will of God and yet I also understand his way is better. I have come across the news of the Miss USA winner Olivia Culpo from Rhode Island and … Continue reading

Would Jesus have an emergency fund?

emergency fund, saving, rainy day

Jesus had one purpose on earth to shed his blood, for without the shedding of blood there is no remission of sins. If there is no remission there is no salvation, and if there is no salvation than being on earth would be most miserable for all.

It is my opinion that Jesus did not have an emergency fund. I also believe that as humans we are to imitate Christ but also understand that we are human and can never be Jesus. While the disciples were with Jesus they did not need to fast they didn’t need to store in barns because the bridegroom was with them. Hence, Peter receiving the coin from the fishes mouth. Notice the change after the death and resurrection of Jesus. The disciples then began to fast and individuals shared all the wealth so that all had sufficiency.

Where are the five loaves and two fish miracles? Don’t misunderstand me, Jesus still performs miracles today and uses his people to perform them, however the new covenant is that each individual who believes in Jesus Christ receives the Spirit of God and through obedience of the Spirit receives his revelation and knowledge to lead a life that keeps the saved individual from becoming busybodies.

So wisdom for us today is save for the bridegroom is coming, but not yet here.