Manage Your Money God’s Way: Planning is easy; Millennial Savings Rate; What do You Treasure

October 1, 2016

Planning is easy

It’s easy to make mental plans but difficult to turn those plans into reality.

Some people get a 30-year mortgage and plan to make extra payments, but can you be disciplined enough to do it every month?  

To help you make your financial plans a reality, remember these core principles of personal finance:

  • Spend less than you earn

  • Find smart ways to cut spending

  • Invest the extra money, first in an emergency fund

  • Pay off debt

  • Diversify investments

How to make changes:

  • Concentrate on today. What can I do today to reach my future goals?

  • Track you progress. Use a budget to see where you can make better spending and saving choices.

  • Spend time with like-minded people. If you are struggling to cut your spending, spend time with frugal people and less time people who want to spend, spend, spend.

  • Go as fast and as hard as you can, but don’t burn yourself out.

  • Be consistent in implementing your plans. Remember this is a marathon not a sprint.

Millennial Savings Rates

Millennials are saving at an abysmal rate. Here are some tips to reverse that trend:

  • Understand that there is no amount too small to get started

  • Invest at least some money in the stock market

  • Consider finding other Millennials with like-minded goals to share the journey

What is Your Treasure

We’ll share an excerpt from our pastor’s very touching homily about defining what it is that we truly treasure.  We guarantee this will make you think about the treasures that are important to you.  Click HERE to listen to the complete homily.

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