Happy Thursday, friends!
Today I’m continuing with the mini-series on money from last week. You can click here to read Part 1 of this series – so you can see our story, where we’re coming from, and also catch the other half of these tips!
Also, psst – there’s a giveaway and a reader survey going on! Don’t miss out!
To reiterate our little mission statement, Bjorn and I are passionate about using money wisely in this household – since money is something that God, the ultimate Provider, has entrusted to us. We feel that how we humans deal with money determines whether or not we will bring glory to Him in the process.
Without further adieu, here’s Part 2 of our:
5 // Pay off bills ASAP! Even the online credit card bills. We have some bills set to pay automatically, but we still check online balances quite frequently and pay off credit card bills two or three times a month!
6 // Avoid debt like the plague (and if you have it, attack it!). I don’t talk about it much (yet!) but Bjorn and I plan to build our own home, something we are extremely excited about! Although we have no debt now, we aren’t fooling ourselves – we know that some amount of debt will come in a house-building journey and our future farming operation.
7 // Don’t spend more than you have. Another common sense rule Bjorn and I hold to. It’s frustrating how our culture allows people to spend money they don’t actually have, in order to live at a false (often luxurious) level.
8 // Enjoy the rewards of credit cards IF AND ONLY IF you’re disciplined enough to keep up with them. I know credit cards are a bit controversial among the financially-savvy crowd – “cut ’em up!” people yell! I know Dave Ramsey does promote this idea as well. However, Bjorn and I actually do love using our credit cards to make our purchases. They are awesome if you’re disciplined with them – Bjorn says it’s like free money, if you’re planning on spending that money anyway…meaning, swipe them, get those cash-back rewards, then go home and pay them off right away! 🙂 As a result of watching our credit cards closely, we have never paid a penny of interest, plus we’ve accumulated over $1400 in rewards! These rewards will…well, reward us as we plan our big trip for next year!
9 // Don’t buy into what our culture says you should have. “Are you married? Then you should buy a house right away!” “You deserve the newest, biggest TV!” “Extravagant vacations are our RIGHT!” I’m not saying that house-buying is bad, or that TVs or vacations aren’t great. All of these things can be useful, even wonderful. But think about why you’re aching to get into that “perfect” neighborhood, or buy the newest/biggest/greatest product. If it’s simply because you feel you have to have it – take a step back. Maybe there’s something more rewarding or worthwhile you could spend your hard-earned money on!
Finally, know that Bjorn and I are not absolute experts on money. Opinions, at the end of the day, are opinions, and you may have totally different ways of running your household finances. But after learning to use money as wisely as we can as a team, we wanted to share with you what we have discovered thus far!! We hope it brings you something to think about, or even a new system/rule you want to try. Most of all, remember that money is something (temporary) that God, the ultimate Provider, has entrusted to us. How we humans deal with money determines whether or not we will bring glory to Him in the process. We want to mimic Solomon in the Bible, as we continue to pray for God’s wisdom in dealing with our earthly gifts and circumstances.
How about you? What financial advice have you come to learn over the years? Did any of these tips resonate with you as something you already implement?