Are you satisfied?

“He who loves money will not be satisfied with money, nor he who loves wealth with his income; this too is vanity.” Ecclesiastes 5:10

People who love money will not be satisfied with money, nor he who loves wealth with his income

Money is a tool to use.

Even in our pursuit of financial freedom, we must never allow money or wealth become the end-goal. It is only a means to a different end: freedom to pursue God’s calling in your life; freedom to give generously; freedom from poverty and its added stresses and anxieties; a legacy of ministry for future generations…

If money for money’s sake is the goal, you will never be satisfied!

What is your end-goal?

Could you come up with $400 in an emergency?

in an emergency
Rich Legg/iStockphoto.com NPR

“If a financial emergency struck — say, a health problem or a car that needed repair — would you be able to come up with $400? According to the Federal Reserve Board, 47 percent of Americans would have trouble doing so — they would have to sell something, borrow money or simply couldn’t pay.”

$400 in an emergency? Of course!
Without borrowing it? Sure, just put it on my credit card! (um…)

Yesterday on Weekend Edition, NPR reported the startling findings that almost HALF of US Citizens couldn’t come up with an emergency $400 without borrowing it or selling something to get it.

And think of what “in an emergency” means:

  • $400 is a simple car repair.
  • $400 is an airline ticket to your Aunt Ruth’s funeral.
  • $400 is Fido’s vet appointment.
  • $400 is a chipped tooth.
  • $400 is Jr’s emergency room visit.

Before we got control of our finances, a $400 emergency would have caused us to go into a panic! And then we would have sucked it up and charged it on our already-maxed-out credit cards.

This is why we have a $1,000 starter emergency fund before we do anything else. Click To Tweet

Before you can save for college, before you can budget, before you can start aggressively paying off debt, before you can invest, before you can vacation, before you can be truly generous, you must have a baby emergency fund. If you don’t, every little $400 emergency will set your whole plan back by a year!

These 47% of Americans aren’t all poor people. These are the American middle class. And they’re living paycheck-to-paycheck.

Here’s another quote from the interview:

“We have been taught that a middle-class existence is … maybe a $250,000 house, and a vacation every year, and a car for each adult, and education for the children. And, indeed, those are the very metrics that the commerce department has used in defining what a middle-class life is. But as I point out in the article… the price tag for that middle-class life is $130,000. Only 1 in 8 Americans makes $130,000. So the middle-class life that we’ve all been taught is ours — if only we work for it — is out of the reach of all but a very small number of us.”

So some of this is about contentment:

Would you be content living a lifestyle you can actually afford? Click To Tweet

And some of this is about processes:

Are you doing the right things in the right order to win with money? Click To Tweet

If you find that you wouldn’t have $400 in an emergency, you may need help with contentment or help organizing your finances. Who do you know that could help you with that?

What is your money personality?

Your money personality is a big deal! Research continues to show that money fights are the number one predictor for divorce in North America!

Mostly, your money personality isn’t something you’ve chosen. It’s something you’ve learned – from parents, peers, or the school of hard knocks. And like other parts of your personality, your attitudes toward money are complicated and some seem to be naturally ingrained.

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