Here are some articles that caught my eye this week…
I believe often times we don’t get ourselves into financial trouble because of the huge mistakes. Sure there are cases where a major hospital stay with no insurance or a prolonged job loss or other major trauma absolutely destroyed the family finances. For the most part though I think those are the exception. What is most common are the little choices we make day after day. We don’t think they are significant because the dollar amounts are small and so we don’t pay attention. But small decisions compounded over weeks and months and years can have a dramatic effect on our success.
Some fascinating studies detailed in this article. Retailers spend millions of dollars studying how to make us part with a little bit more of our money. There is nothing wrong with buying things we want. It is important though to understand the factors that motivate us to buy.
If you are looking for a little extra money to get that debt snowball rolling, make ends meet, or maybe to save for that special purchase, one way you can do it is by renting out extra space you may have. People have been doing this for many years and it is still one excellent way to bring in a little more income.
I had a pastor once tell a story about the time that a well-meaning friend gave them a new king size bed. But they had a queen before so that meant they had to buy a new bed spread, which didn’t match the old curtains, and the new bed needed more pillows, and, and, and…. He said that “free” bed cost me a lot of money. So often that is true of our possessions. When you add up the real cost of that item, it is often far more than the price on the sticker. If we aren’t careful the never-ending chase for stuff will lead us down a path of debt and ultimately bondage, because we trade away our freedom when our mailbox is full of payments.
Debt is a thief. It steals your peace. It steals your freedom. It steals your future. Don’t believe the lie that you must live in debt.
Often times when we are young the last thing we are thinking about is retirement. It seems so far off that we think there will be plenty of time to start saving later. But time can be our friend or our enemy. Have the wisdom to start early. Even a little saved from a young age can turn into a life changing total when you get to retirement age. If you wait until later though you can still save to have a comfortable retirement, but it is much more difficult.