Proverbs 22:7 NIV
The rich rule over the poor, and the borrower is servant to the lender.
What are your thoughts with regards to money and debt? What is your family's approach to money? Money is the number one cause of discontent and divorce in our nation. In addition to this the bible says; 1 Timothy 6:10 NIV
For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
Notice it says the LOVE of money, I don't wanna be taken out of context. So having said that, what do you teach your son or children about money. My sons are taught and will be required to explain the aforementioned verses. Why? Because there is so much that money can effect when it's not properly prioritized in our lives, and in relation to our values. Money is a tool to further God's kingdom, and besides it's not ours anyway, it all belongs to him.
My wife and I are fortunate that we are debt free, we have no other debts other than our house. We started that quest back in December of either '97 or '98 when me and Mary decided that we would no longer charge Christmas. It was soon after that, that the slow road towards becoming debt free began, and what a tedious road it was. I would encourage you to take that road if you haven't already.
Here are the rules that we wish to impart to our sons regarding their finances.
1. Be debt free (there may be some exceptions with regards to home ownership, I'm not quite sure as to where that line may be, and it may differ with you)
2. 10% Goes to tithe
3. 10% Goes to savings
4. Pray for God to guide you in offering
5. Live beneath your means
If I can instill these values in my sons now they will be far ahead of the power curve. I didn't learn some of these truths or implement some of them till I was in my late 20's. I can only imagine where I might be now financially if I had followed these guidelines. But we can empower our kids now and give them that edge, don't they deserve it?
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