Wednesday, October 20, 2010

Spend, Save, Give

As Joel and I go through the Financial Peace University Program in small groups our kids are also going through FPU Jr in their Kids Church Programs.  For Joel and I we are so shocked that just the awareness of our money flow has made a huge change in our financial situation.  Our kids though have truly started to look at money in a different way and it so neat to see them going through this.  I would have never thought that instead of feeling how are we ever going to get ahead and save for the future could truly be changed by such simple steps and a mind awakening.   Now we can start putting our money to things that would please God and it's all from trusting Him to give us what we need.

As we proceed into the future our outlook for the kids future of money has changed as well.  With the Spend, Save, Give plan we are showing them to be wise and also to honor God in the process.  We have changed it a bit because we also feel that they need to save for more than just their current wants.  So we have broken down the percents of how the incoming money is broken down.  They get to have 40% for Spend, 30% Save, 20% Long term Savings, and 10% Give.  I can see that for the most part the girls are planning for now only keeping a very small amount of the Spend and putting the rest into their Save for their next awesome purchase.  It's so great to see that!

I hope that by next month I can truly say that the 2 credit cards we are planning to pay off are paid off and closed accounts.  They aren't interest growing ones just those pesky no interest pay plans we set up to buy things from certain stores.  How ever they keep money from going to other things.  At a long term plan we hope to be 100% Credit Card Debt free by end of summer and hopefully by Sept 2012 we hope to have no payments for anything but the house!  That is the point we will be screaming we are debt free.  So we will fully pay off the student loans of mine, the camper, and our car all about 4-6 years early saving us money in the long term too!!!

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