Step 1: Give
Step 2: Save
Step 3: Spend
From the perspective of a teen, I didn’t see any arguing or even a whole lot of planning when it came to my parent’s money. It seemed they simply followed the three steps and we always had enough.
When my father passed away pre-maturely, it was then that I truly saw the wisdom my father had when it came to finances. Working two manual labor jobs to take care of his wife and eight children, he still managed to set aside enough funds to more than provide for my mother for the rest of her life. Mom was a beneficiary of Dad’s wisdom.
Proverbs 6:6-8 compares wise men like my dad to the ant:
“Go to the ant, O sluggard, Observe her ways and be wise, which, having no chief, Officer or ruler, prepares her food in the summer and gathers her provision in the harvest.” Proverbs 6:6-8
I don’t know how my dad calculated what to save and what to spend, but from our first day of pre-marital counseling, Greg and I started saving the recommended 10% of our income. We gave 10%, saved 10% and lived on the rest.
And we’ve always had enough.
We need to teach our kids to prepare for tomorrow and that begins with saving. Systematically setting aside funds so we’re ready for what may lay ahead.
You can read all the April You and Your Girl series here.