Today I was talking with Rebekah about money and her budget as she gets ready to move to Slovakia and marry Andrej. We had a great conversation at the pancake house.
When I think of our financial journey, I think of several things:
1. I was raised in a home where my Mom and Dad were excellent with money. We lived in Miami, FL then moved to London, England when I was 11 in 1965. While we were in London, we lived in Golders Green and in Knightsbridge. These experiences had an impact on my thinking about money, success and investments.
2. My Dad always encouraged me to work. My first job was working in a pony rink at the age of 11, where I had to shovel poop from the horses. When we moved to England, I was working in a butcher’s shop gutting chickens on the weekends. One summer, when I was 16, I came back to the USA and worked on a cattle farm in Minnesota and in Canada building fences. These are great memories.
3. I was able to speak often with my Dad who used many expressions as it relates to money:
a. Men at work or money at work
b. One wise investment is worth a life time of labor
c. When buying real estate go out…waaaay out and wait for the growth to come to you. This is what happened to my Dad. He bought two 20 acre pieces of property in Miami, FL for 1600.00 an acre and ended up selling them for 60,000 an acre before he died.
4. Debbie and I were first exposed to money/budgeting ideas with Larry Burkett. He was the one who taught us “Net Spendable Income”. Before that, if we received a $1000.00 check, we would wonder how we could spend the whole thing. He was the one who showed us…
a. 100.00 = 10% Giving
b. 100.00 = 10% Savings
c. 100.00 = 10% Investment for future…401 k stuff
d. 350.00 = 35% Taxes
e. 350.00 = 35% Net Spendable Income
5. This is not an easy practice or habit but one that pays great dividend. If we live our lives according to biblical truths and principles, we can trust God to supply all of our needs in Christ Jesus.
6. I have seen over the last 32 years, that this is sooooo true. We have lived our lives according to God and His Word and biblical principles and we have seen our wealth grow little by little.
7. This is our practice today…whenever we get any check, we apply to the following categories, in the following order…giving, saving, investing, taxes then our net spendable income…this is the harder but better way to go.