I read this recently on Million Dollar Journey and it was total head-smacking epiphany!
* Most people are not wealthy because they want to spend a million – not have a million.
* Paying off debt is just “getting up to zero”, which will not make you wealthy.
* The poor have most of their money in consumer items, such as a car. Middle class people have most of their money in their home or other real estate. Wealthy people have the bulk of their wealth in their business or in the stock market.
wow – why do they not teach this IN HIGH SCHOOL??!!!
I have a commerce degree, this should not have been an epipphany to me at 44 years old!!
We will be teaching our children to think about money, wealth and debt much differently than we have.
Proverbs 13:11 – Dishonest money dwindles away, but he who gathers money little by little makes it grow.
At the same time, I am not advocating focusing your life on the pursuit of wealth, it was a perspective that reflected our pursuit of buying THINGS, our sense of entitlement, which is a fool’s pursuit.
Hebrews 13:5 – Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.”
1 Timothy 6:17-19 – Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.