Advice About Money
Frugal Ways to Save Money
Some of the best advice about money and frugal ways to save money come from a book by Richard Foster titled: Freedom of Simplicity: Finding Harmony in a Complex World.
Foster's basic advice about money is that we are not a slave to money if our needs and wants do not exceed the provision for them. The book is richer in its scope than that, however in any discussion about money, there is no wiser advice.
Here are a couple of quotes from the book:
We are dependent upon God for even our sense of worth as individuals. Our uniqueness and dignity is rooted in our creation in the image of God. Our value is not tied to wealth, status, accomplishments, or position. It is a gift. Obviously, this wonderful truth flies in the face of the modern technology to define people by what they produce or what they have done. ~Richard Foster, Freedom of Simplicity
God’s blessing is not for personal aggrandizement, but to benefit and bless all the peoples of the world. The theology of wealth says, “I give so that I can get.” Christian simplicity says, I get so that I can give.” The difference is profound. ~Richard Foster, Freedom of Simplicity
Of one thing we can be certain: our wants will always exceed both our needs and our funds. If our own egocentric greed does not ensure that, then advertising will. If we allow our wants to determine our buying patterns, the result will be chaos—and considerable debt. ~Richard Foster, Freedom of Simplicity: Finding Harmony in a Complex World
Advice About Money for Kids
Teaching Your Kids How To Handle Money
It is up to us as parents to provide advice about money to our children. Here are some tips on how to accomplish this difficult process.
Kids learn by example. If you are in debt, odds are they will be too. You need to teach fiscal responsibility at an early stage. The earlier you discuss money with your kids, the better prepared they will become. Open up a savings account with your kids; allow them to deposit and make withdrawals. Give them the option to use the account in whichever way they decide. By allowing them this freedom to choose, you are also giving them the opportunity to make mistakes and learn from them. Always be there in case they need your advice in this regard.
Give them an allowance. If they run out of money before the following week; do not replenish it. This will teach them about choices; the good and the bad. This is especially true if they are saving to buy something special. If they use their money unwisely, and cannot buy that which they were saving for, a valuable lesson will be learned.
Do not spoil your kids by giving them everything they want. Give them just enough money via a weekly allowance and no more. If they choose to buy something you think is not appropriate, discuss it with them. Teach them about the importance of saving money and what they can look forward to as they get older. Give them examples of your own experience as a child, particularly if you had a problem handling money.
Finally, teach them the pitfalls of borrowing. If they ask for money to buy a certain item; inform them they will have to pay it back with interest. Tell them exactly how much they will have to pay back and figure out together how long it would take. Undoubtedly, they may change their mind; but if not, stick to the terms you set. Teaching your kids how to handle money begins with you. Whether you were a saver or a spender, it is incumbent upon you to pass on to your child all the tools he or she needs to make worthwhile decisions; now and in the future.
It's important at times to see and think outside the criteria our own culture sets and develop a more global perspective on wealth---and our position in the world.
Take a look at this short video titled
The Miniature Earth.
Other wonderful resources include Margaret Lukasik's site: The Way to Wealthy Living.
Margaert says: I've been helping people just like you focus upon God's Word to substantially increase their finances. When I first learned about God's financial plan I began using the principles right away. It took a little time at first to get out of debt, but I soon learned that with some practical thinking and the power of God's Word, the process of growing our finances and getting out of debt can happen sooner than later if we put forth the faith effort.
And read what Melanie Fine of
Money Management and Debt Free Living
shares: Transform Your Money through easy and fun tips and techniques. This site is about taking you from where you are to where you want to be through money management (personal finance, money management, etc.).
A budget is nothing more than making the decision where our money goes. Without a budget we forfeit the ability to make that decision. A budget merely controls how much goes where. It keeps us honest with ourselves ~Richard Foster, Freedom of Simplicity
and finally...
The last "strategy" and piece of advice about money is that we have a responsibility to others. I will devote
another page on this site
to why we must, and how we can, invest in ways that will make a lasting difference in the lives of others.
Related Links:
Money Management Advice
Frugal Money Saving Tips
Frugal Savings
Frugal Investing
Surviving Hard Times
How to Survive a Recession
Surviving a Layoff
Creating Your Home Business...Free Ebooks for Instant Download
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