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Showing posts with the label Financial Literacy

6 Practical Ways to Spend Less and Create Financial Margin

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Feeling like you're living paycheck to paycheck? The secret to building wealth and reducing financial stress isn't always about earning more; it’s about creating financial margin —the space between what you earn and what you spend. By taking control of where your money goes, you can align your spending with your values and start working toward your goals. Sometimes it seems that God’s financial provision for us isn’t constantly growing larger and larger and we need to be wise about how we spend these resources.  If you are not regularly receiving raises at work and extra income for side jobs or business isn’t a possibility in this season of life, you may want to consider how to save money by spending less on your everyday expenses.   In Genesis 41: 34-36, we read, “Let Pharaoh proceed to appoint overseers over the land and take one-fifth of the produce of the land of Egypt during the seven plentiful years. And let them gather all the food of these good years that are comi...

What is the Financial Legacy You are Leaving Behind?

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Most of us don’t want to talk about what’s going to happen when we are gone. Are we thinking we are going to live forever? Are we leaving our children a legacy of debt and despair or of blessing and hope? Are we communicating with our family about our desires or holding that back until the reading of the will? Do we even have a last will and testament? What documentation do we really need? What could happen if we don’t have estate planning documents? If these are some questions you have, you have come to the right place for some basic information. For more personal and specific information, I would direct you to a qualified estate planning attorney and a financial advisor. Nolo.com offers some great legal information and naepc.org can guide you to an estate planning professional. I was speaking with a friend of mine who recently lost her husband. She thought that once he passed, she didn't have to pay his hospital bills. She had a house that she wanted to keep, and they were bot...

Are We Setting Our Kids Up for a Successful Launch?

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As parents, we want the best for our children. We want them to have fulfilling lives and to achieve their dreams. But are the financial messages they're receiving—both from us and the world—truly preparing them for success? Our kids are bombarded with commercials and social media feeds that equate worth with what you own. They see a culture that prioritizes instant gratification, from expensive cars to luxury vacations. We might have built our lives and wealth over many years of hard work, but are we inadvertently teaching them that they should have it all right away ? The Homeownership Trap A common piece of advice many of us have heard is, “renting is just throwing your money away.” While the desire to own a home is a wonderful goal, encouraging a child to buy before their finances are in order can be a recipe for disaster. Owning a home isn’t just about the mortgage payment. It's about property taxes, insurance, and unexpected repairs—costs that fall to someone else when you...

The Family Financial Legacy: Actively Training your Kids about Money

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  I recently heard a friend describe what she had learned about love and struggles. She described a wonderful 40-year marriage that started with a few bumps when it came to finances. She and her husband had to learn how to communicate and use money together, because they came from vastly different family backgrounds. She grew up in a family that would save and plan for trips and vacations, always looking for cost-saving opportunities. He, on the other hand, grew up in a family that would say at 5 p.m. on a Friday, “Let’s go camping!” and by 9 p.m., they would be out at a campsite—no planning, no thought to the cost, just enjoying their time. Read more about Getting on the Same Page for Money Conversation here . We all come from different financial backgrounds, and we learn a lot about money by watching our parents. As another friend reminded me recently, “More is caught than taught.” Have you thought about what you are teaching your children or grandchildren by your actions? What...