I am starting a new Sunday School class session this quarter taught by Aaron Cruse and Chris Von Cannon about managing money. Therefore, I am going to writing several articles related to what I learn concerning money matters. These articles will not only be about managing money, but also legitimate ways to make money from home that I have either researched and found to work, or things that I am actively doing to earn money from home, or I have done in the past and had success with.
It might be hard for you to see your children making poor decisions when it comes to money. However, this is the best way for them to learn how to manage money. Remember that if you try to make their decisions for them, or try to tell them what to do regarding their own money, they aren't going to learn. Making mistakes is the best way for them to learn, and it is much better for them to make those mistakes when they have to deal with you, and not when they have to deal with credit card companies. Be sure that you allow them to make their own mistakes and you'll see that they learn much faster.
Everybody that manages their money has a reason why they manage their money. For some people, it may be to make sure that they can pay the bills on time. Others may manage their money so that they always have some spending cash. Others, like me, may manage their money so that they can save money and accumulate wealth. All of these reasons are good reasons to begin managing money, however all these reasons are just another part of a greater goal. Your immediate goal may be paying your bills on time. But the greatest goal that everybody in the world shares is the same: everyone wants to enjoy their money.
Being a bit tight wadded with your home based business is not a bad thing, assuming that you take care of all aspects of the businesses need including reinvesting and growth potential as well.
A Christian home is based on God's purposes for you. This is where producing the income you need in your home comes into play. Are you doing what God's purpose is for you as a career? If you are doing what God has designed you to do, chances are you will be extremely passionate about it. If you are extremely passionate about it, chances are the income will reflect your enthusiasm. A great book to read about doing work you were designed for is 48 Days To The Work You Love by Dan Miller.
That is why the best thing we can do for ourselves is get out of debt, prepare an emergency fund, and then invest as much income as possible during the good times. This will help us be prepared for when we need additional money in the future. Below are some tips on money management to help you achieve those goals.
If you are contacted by a debt collector, express willingness to negotiate. Your debt was probably purchased for a small amount of money. So, even if you can only pay them a small piece of what you originally owed, they will probably still read this make a profit. Get rid of your debt for much less using this in your favor.
Gone are the days when a parent's earning was never revealed. These days, one can find that children discuss their parent's income and also their positions and then decide on making friends. It is my assumption that when a child can discuss a parent's income, he/she can also be made aware of the importance of money.