Whether you’ve got your first job, received birthday money from your grandma, or just made some sweet cash mowing lawns or selling candy, you’re always faced with a challenge: ‘what do I do with the money?’ Do you go on a spending spree? Blowing all your cash on candy, shoes or a new video game? You’ve got cash, but what’s the best way to handle it?
With that in mind, we’ve come up with 10 quick tips about money:
- Spend less than you make. Don’t borrow cash from your dad, brother, best friend or the guy that has the locker next to yours. If you don’t have the cash to pay for something right now, then wait to buy it. Choose to spend less than you make.
- Resist impulse spending. This can be tricky. You go shopping and find some awesome shoes. You didn’t know you needed shoes until you saw THOSE shoes. Then you knew, you had to HAVE them. Impulse spending can lead to some stupid purchases, but most importantly, impulse spending can cause you not to have enough money to pay for the things that really matter. Choose to take your time and think it through before spending lots of money.
- Put God first. This is one of the hardest things to do when it comes to spending your money. You might think that you’ll give to your church when you get older, or when you make more money. However, putting God first in your spending is the best way to set yourself up for financial success in the long run. Giving to God is the best financial decision you can make. Bring all the tithes into the storehouse, that there may be food in My house, and test Me now in this, says the Lord of Hosts, if I will not open for you the windows of heaven and pour out for you a blessing, that there will not be room enough to receive it. – Mal 3:10 (MEV)
- Making giving a priority. Giving is a concept that doesn’t really make sense to our brains, but its rewards are incredible. It seems that the more you give, the more you have. So whether its buying your friend a soda when they’ve had a bad day, or giving to a missions project, giving should always be a priority in your life!
Give, and you will receive. Your gift will return to you in full–pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.” – Luke 3:38 (NLT) - Run from debt. Don’t make debt a habit. It can be tempting to ask your friend for some money to cover the cost of your candy bar, but don’t make that a habit. Debt is a trap, so don’t start. Choose to avoid it at all costs.
Just as the rich rule the poor, so the borrower is servant to the lender. – Proverbs 22:7 (NLT) - Save for a rainy day. Doing this will set you apart from a lot of people. Begin when you’re young to save. Don’t spend everything you make. Choose to set some aside so that when you really need money, its there for you.
- Learn from others. One of the best things you can do when it comes to money is watch and learn from others. There are people in your life who have made good decisions with their finances. Get in touch with them. See what things have helped them succeed and do the same thing in your life. Learn from the decisions of others.
- Learn about money. Read up on some blogs about money. Talk to your grandpa about money, whatever you do, become a learner about money. Find out how it works and how you can be better with the money you have.
- Don’t obsess about money. It can be easy to make money a huge obsession in your life. You can make all your decisions based on it. It can become such a big part of your life that it hurts your relationship with God. Never let money become an obsession in your life. Money is simply a tool, not something to become consumed with.
- Realize you’ll make mistakes. You’re going to make mistakes with your money. You’re going buy something that was totally worthless. You’re going to invest in something and lose it all. However, each dumb purchase or mistake that you make, is a great way to learn. If you let them, the mistakes you make will help you become wiser and be better with your money.
These simple money tips will help you to become better at managing your money. However, learning to be good with money isn’t something you’re born with, so don’t get discouraged if you don’t always make good choices. Learn from your mistakes and keep God at the forefront, and you’ll come out okay when it comes to your finances.
