Spring is a dangerous time of year for your financial security. I know so many of you will be getting a tax refund; some of you may be getting money back from both Uncle Sam and your state. The danger is that you blow the money on a want, rather than focus on your needs.
And that’s a shame, because chances are your refund could be a serious chunk of change. The average refund last year on federal returns was nearly $2,800.
Don’t you dare spend that money on a vacation or a new flat screen. Or anything that qualifies as a “want”. You are to focus on needs first.
My short list of important needs:
- Pay off high-interest credit card debt.
- Pay-down a high interest car loan.
- Pay down student loan debt.
- Build up your emergency savings. 8 months of living expenses is the ultimate goal.
- Fund a Roth IRA.
It is important that you understand that whoever you support financially for a cause you have joined yourself with that person. You have made an agreement with them. Whatever evil spirit that person has your home will receive it. Do not be deceived. God watches over all of our actions and will judge us accordingly. Satan is also watching with his many demons waiting for access, when you seek to serve His agenda through someone else. This open door brings in sexual immorality, depression and deception into your home.
Be careful who you support. Don’t fight against your prayer by supporting with your money things you are praying against. This behavior is double minded and unstable.
Sanctify your money by supporting the things that God is pleased with and you will be rewarded by Him for being obedient to His Word and for not being double minded.
How was I to know that the result of hard work is money stacked in the ATM? Unknowingly, parents miss valuable opportunities to teach their children what it means to earn and manage money.
Money, and the concept of earning and managing money, is a process that must be respected. As soon as the child is ready for school, they should be given their own income to manage. It doesn’t have to be a lot of money, but enough to show them the importance of earning, saving, and giving the money he/she has made. The amount of the income that you give your child is not as important as how they handle it.
If little Brittany/Brian wants to cry to get that new toy from the shelf at the toy store, a Happy Meal from McDonalds, or a drink from the grocery store, let them blow their entire budget on the item. When the “law of natural consequences” takes place, and they realize that they have blown their entire income on the first day for an unwise purchase, don’t think about bailing them out. Create some boundaries and offer advice on how the money should be spent, but give the child freedom within these boundaries.
Since money is important part of life and a huge tool used by the devil it helps to have a healthy respect of it. It also, helps to establish a correlation between work and money. We know that money answers all things and that we can either serve God or money. Giving them the proper understanding of money will set them up for ruling over money and wants, instead of being ruled by them.
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