Steve Repak's Blog, page 8
March 5, 2014
The Honeymoon is Over… What To Do With All of the Money?
Through my many years of working with them I have learned that couples will resist taking advice from their better half but they will take advice from a total stranger. It is not an insult to you or your better half, it is just the truth. With that said I don’t come bearing gifts of money but instead I want to share with you four things to do with the wedding money your friends and family have given you.
Proverbs 11:24 (NIV)
“One person gives freely, yet gains even more; another withholds unduly, but comes to poverty.”
(1.) Give God His due
If you really want to start your marriage on the right track, learn to give at the beginning. If you have your priorities in order now it will make life so much easier later. How can it help you financially? When you give, you have no choice but to live on less which is not just biblical but also the cornerstone of personal finance. Show God what your true priorities are by giving to Him a part of your financial treasures.
1 Corinthians 16:2 (NIV)
“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.
(2.) Fund your “life happens” account
Nobody plans on bad things happening such as your car’s transmission going out or needing to replace your refrigerator, but you need to have some cash in safe, short term savings to cover these types of emergencies, because it isn’t a matter of if they will happen, it is only a matter of when.
If you don’t have anything in savings and an unplanned expense does come up, you won’t have any choice but to use a credit card. Your ultimate goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you are not starting out with this, consider setting aside a portion of your wedding money to start or add to your “life happens” account.
Proverbs 15:22 (NIV)
“Plans fail for lack of counsel, but with many advisors they succeed.”
(3.) Talk to a counselor
You are probably thinking to yourself that you just got married so why would you need to talk to a counselor. You may not need a marriage counselor, but you would be wise to talk to a financial counselor. A Certified Financial Planner ™ (CFP®) can help both of you plan a road map to your golden years and help you decide where to put some of your wedding cash for your longer term financial goals. You can find a local CFP® by going to www.cfp.net.
1 Timothy 5:8 (NIV)
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.”
(4.) Blow some of your cash
I know I will get some negative comments and 1 Timothy 5:8 is speaking more towards the area of balance at work, family, etc. but I believe there should be balance also when it comes to money. Give God His due, but find balance with the rest of your money. Extremes seldom work and I have found that couples who have balance in their lives are happier. Spend, spend, spend will lead to poverty while save, save, save can lead to resentment. Be responsible with most of your wedding cash, but do set aside a small portion to spend on things you both like or things you both like to do!
http://www.bethanyjett.com/2014/03/05...
Bethany Jett
Proverbs 11:24 (NIV)
“One person gives freely, yet gains even more; another withholds unduly, but comes to poverty.”
(1.) Give God His due
If you really want to start your marriage on the right track, learn to give at the beginning. If you have your priorities in order now it will make life so much easier later. How can it help you financially? When you give, you have no choice but to live on less which is not just biblical but also the cornerstone of personal finance. Show God what your true priorities are by giving to Him a part of your financial treasures.
1 Corinthians 16:2 (NIV)
“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.
(2.) Fund your “life happens” account
Nobody plans on bad things happening such as your car’s transmission going out or needing to replace your refrigerator, but you need to have some cash in safe, short term savings to cover these types of emergencies, because it isn’t a matter of if they will happen, it is only a matter of when.
If you don’t have anything in savings and an unplanned expense does come up, you won’t have any choice but to use a credit card. Your ultimate goal is to have at least 3-6 months of your monthly non-discretionary spending in an account separate from your checking account. If you are not starting out with this, consider setting aside a portion of your wedding money to start or add to your “life happens” account.
Proverbs 15:22 (NIV)
“Plans fail for lack of counsel, but with many advisors they succeed.”
(3.) Talk to a counselor
You are probably thinking to yourself that you just got married so why would you need to talk to a counselor. You may not need a marriage counselor, but you would be wise to talk to a financial counselor. A Certified Financial Planner ™ (CFP®) can help both of you plan a road map to your golden years and help you decide where to put some of your wedding cash for your longer term financial goals. You can find a local CFP® by going to www.cfp.net.
1 Timothy 5:8 (NIV)
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.”
(4.) Blow some of your cash
I know I will get some negative comments and 1 Timothy 5:8 is speaking more towards the area of balance at work, family, etc. but I believe there should be balance also when it comes to money. Give God His due, but find balance with the rest of your money. Extremes seldom work and I have found that couples who have balance in their lives are happier. Spend, spend, spend will lead to poverty while save, save, save can lead to resentment. Be responsible with most of your wedding cash, but do set aside a small portion to spend on things you both like or things you both like to do!
http://www.bethanyjett.com/2014/03/05...
Bethany Jett
February 19, 2014
February 14, 2014
February 10, 2014
New Title for 2015
I want to thank my friends & fans for all of your support. Never in a million years would I have ever imagined the success I would experience with my book “Dollars & Uncommon Sense”. I have been truly blessed. Last week I signed a book deal with a Christian Publisher to write a book on “how to secure your financial future God’s way”. The book is scheduled to be released in January 2015. I am so excited that I have the opportunity to use the gifts and passions God has given me to help others and I wanted to share the good news with all of you!
