This month’s issue of Money Matters magazine (page eight) has an inspiring story for all teens. If I were still doing Life Prep for Homeschooled Teenagers with my daughter, I’d add it to her assignments for the week.
It’s the true story of a young newlywed couple who has been married for less than two years, has no debt and has $50,000 in savings, all due to their joint effort to manage their money responsibly.
He has a college degree, and she has a one-year technical degree. Both worked their way through college and graduated without debt. Their goals for the future include a large family, a paid-off house and ample donations to missions. What a great example for all young people!
Money Matters is published by Crown Financial Ministries, the organization that Larry Burkett helped start. Listening to Larry Burkett’s Christian financial radio show helped encourage my husband and me as we worked toward becoming completely debt-free, a goal we achieved (not on our own, only with God’s help!) in 2002. Do check out Crown’s site while you’re there.
I love seeing this type of ministry! I have always been the frugal type. It is in my nature! I didn’t use credit cards until I had little ones and didn’t want to drag them in the pay for my gas in bad weather. Debt has always been scary to me but I realize most people are not like me and need to be educated. It is way too easy to accumulate extensive debt.
That said, I married a man with massive school loans. One of the first things we did was set up a plan to repay the loans, become debt free and save for college (& special needs trust)for the children.
I can’t tell you it was easy but I can tell you it was quite worthwhile. I hope we have taught our children well and they won’t know the pain that comes with crushing debt but the freedom that comes with being debt free!
Hi Barb,
Thanks for sharing this link; I’m looking forward to reading it. Seems many of us, with frugal tendencies or not, are rethinking how we spend and save. Makes you think about, too, what really is important in this life.
Blessings to you and your readers,
Karen
Thanks, Barbara. I’m forwarding this to my son. He is getting married in 11 days and can use all the advice he can get, financially speaking.
Blessings,
Carol
Amy, we’re on the same page. In fact, we’re educating ourselves on special needs trusts right now, but realizing that if this health care bill passes, trusts may be unnecessary…..let’s hope not.
Karen, lots of people are getting quite an education from this economy, aren’t they? Hope you like the article.
Carol, congratulations!