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‘Tis the season of graduations.
My husband and I moved to our home in North Dakota eighteen years ago, so the babies of yesterday are the graduates of today.
It is fun to watch them walk that stage and be honored by their families.
At the parties afterward, I asked several what they want to do. Maybe be an electrician. Maybe be a nurse. Maybe go for a doctorate. The possibilities are endless.
One thing is universal though: they will need good personal finance skills.
As I think about my own highschoolers swiftly approaching graduation, I know that whatever career path they choose, they will need to be able to budget, manage, save, and spend their money wisely.
According to Crown Financial Ministries, “There are more than 2,350 verses [in the Bible] on how to handle money and possessions. And Jesus Christ said more about money than almost any other subject.”
As a family, we have discussed a lot of these Biblical money management principles, but on a recent visit with my parents, I asked my dad to teach my kids about personal finance.
My dad taught personal finance to highschool seniors for twenty-five years, and he is the expert I go to when I have money questions. The Bible informs his ideas, and my kids enjoyed his stories. We all came away with a better foundation of Biblical personal finance.
David Bahnsen, a financial advisor writing for World News Group, recently wrote, “A grasp of economics has never been more important for Christians… Economics is about the human person, and our unique aim as believers is for an economic activity that drives human flourishing.”
Much of what Jesus taught about finances and possessions stems from the greatest commandment: “‘Love the Lord your God with all your heart and with all your soul and with all your mind and with all your strength.’ The second is this: ‘You shall love your neighbor as yourself.’”
How we view money influences our relationship with God and with others. Letting money become an idol ruins both. Viewing our possessions as ultimately belonging to God helps both to flourish.
While we visited my mom and dad, I talked dad into letting me record his “10 Golden Rules” as a podcast. It is our prayer that this free resource will be a blessing to young people who are wanting to love God and neighbor by being faithful in their personal finances. I hope to share it with the graduates in my life, and I hope that it blesses their relationship with the Lord and others, in addition to providing financial stability.
Dad’s 10 Golden Rules are
- Have a plan.
- Be debt free.
- Only borrow for appreciating items.
- Borrow for the least amount of time as possible.
- Fight the want.
- Buy smart.
- Use wise tax and insurance strategies.
- Save first.
- Put money in its place.
- Share the wealth.
It was a great crash-course for my kids on how to be good stewards of their finances while loving God and their neighbor. Anyone can listen in for free at www.SarahDixonYoung.com/personalfinance . New episodes will release every Monday during this summer.
Sarah Dixon Young 