Hello ladies! Welcome to Lesson Nine. Let's pray....
Heavenly Father, I come before you this day and ask for guidance as we discuss money issues in this lesson. Lord, we know that all we have belongs to You: our home, marriage, children, our lives.
I ask that You give me the passages in Your word that You want these ladies here to know and treasure in their hearts. I also pray for cleansing of sins so that I may hear from You. I pray that you will cleanse me through the studying of Your word. Please renew a steadfast spirit within me and a clean pure heart like Yours.
I also pray for each lady here reading this lesson that You will speak to her heart, convict her of sin, and renew her. I pray for healing in our marriages and friendships as well as in our relationship with You, Lord.
In Jesus' name, Amen.
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Today's passage: Prov. 31:16 "She considers a field and buys it; From her profits she plants a vineyard."
Investing. This is something I sure wish I had learned more about when I was younger. I had the chance, too. One of my co-workers in North Carolina was a big investor. At age 19, she had an impressive portfolio.
I once had the chance to buy stock in Wal-Mart back when it was $25 a share. I didn't do it, though. One of many regrets. Imagine if I had bought 100 shares back in 1991. I'd have quite a bit of money stashed away for Nathan's education.
As I wrote about in earlier lessons, women and money tend not to mix together very well because we are emotional. Everything we do we tend to do based on our emotions. This can come back to haunt us when it comes to finances.
Please read:
Matt. 25:14-30
Here we are revisiting the parable of the talents. One servant invested his money and the other just hid it away.
Re-read Matt. 25: 29
Then read:
Matt 13:12
Job 1:21
What we have belongs to the Lord. He gives and He takes away. How we handle what he gives us is important to Him.
The Virtuous Wife understood this. By "considering a field" she is wisely investing her money. She buys it and uses her profits to plant a vineyard.
The word "profits" here is translated as "fruits of her hands". So, from the fruit if her hands she plants a vineyard. What is a vineyard? It is a way of providing for her family. Her children will have the land when she is gone.
Remember how we discussed not to rely on material things? Buying things that will have no value in the future is a waste of money.
Dr. R.C. Sproul talks about this in his study "To Whom Much is Given". He talks about how we should be wise when buying things:
Clothes: it is best to buy clothes that will not go out of style quickly. Buying the "classics" instead of the trendy saves money over time. I learned this when I worked as a bailiff. I bought clothes that were classics 10 yrs. ago and they are still in style today. They cost more, but they have more than paid for themselves.
Cars: try and buy a new used car instead of a brand new car. Cars depreciate the moment you drive them off the lot.
Houses: try and get a 15 yr. mortgage rather than a 30 yr. Buy within your means so you are not "living" for the house.
These are just a few things he talks about in his study. By attempting to follow these rules, you can see how it becomes easier not to love money.
Please read:
1 Tim. 6:6-7
1 Tim. 6:9-10
Desiring or striving to become rich leads to all sorts of temptations. Contentment is what the Christian should strive for:
1 Cor. 4:11-13
Phil 3:7-11
Phil 4:11-13
John 15:5
Heb. 13:5-6
So, if we have Christ, we have everything. All our needs have been met.
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Life Application
Now, what do we do with the money God has given us?
First of all, sort your debt:
Good debt= money borrowed to finance an asset. an asset is something that has value today and that value will rise in the future.
Bad debt= money that you borrow that is not used to finance an asset. Credit cards debt is bad debt. Car loans are bad debt because your car doesn't increase in value.
Our main objective is to be rid of bad debt and have only good debt.
Another wise thing you can do is check your credit often. Here is how you can do it for free:
http://www.annualcreditreport.com/
or call 1-877-322-8228
By checking your credit, you can find erroneous information before it hurts you and your husband. (Women and Money, Susie Orman, 2006)
Lastly, the best thing to do with your money is to diversify. My husband set up a 401(k) for our retirement and it diversifies our investments. We also have an education IRA set up for Nathan and other IRA(s) as well. This is the best way to save for your retirement.
For those of you approaching 60 (or are already in your 60s) another good strategy is the reverse mortgage.
My father has one and it has really helped him since he is on a fixed income.
After you reach 62, you can get a reverse mortgage in which a bank pays off your mortgage and pays you your equity in a payment per month. That way you get to use your equity without having to sell your house and buy another house.
If you should die, the bank sells the house and pays off the loan. Whatever equity is left over goes to whomever you choose for it to go to. Not bad, huh?
Our goal in life should be to pay off our house before we retire that way we have no house payment and if we should need to sell the house we will have money to live on. That is a sound investment.(Women and Money, Susie Orman, 2006)
So many people today see houses as just a short term investment. I am beginning to see how staying on one house for many years can really be the best investment.
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Investing:
I do not know enough about buying stocks and bonds to write about it here, but it can be an excellent way to invest our money.
But consider the Virtuous Wife....she "considers a field" meaning she thought about it first. Perhaps if we gave our money more thought or if we gave our spending more thought, we would have profits to invest. Her profits would produce long term for her family. Her children would then own the vineyard and have land to pass on from generation to generation.
Wise investing, indeed.
We can begin to teach our children about wise investing and spending. We are already teaching Nathan about delayed gratification vs. instant gratification. He has learned to save up his money to buy what he wants instead of impulse buying. So far he has be very wise with his spending.
If you know a young woman who may need encouragement or admonishment when it comes to money, please share this lesson with her.
Until next time................
"The woman who is wise is a woman who is sober-minded, well-minded, sound-minded. Passions and thoughts are under control, therefore she is self-controlled and of sound mind, acting with wisdom."
-Elizabeth George (A Woman of High Calling, 2001, p. 182)
Titus 2:3-5
"The older women likewise, that they be reverent in behavior, not slanderers, not given to much wine, teachers of good things- that they admonish the younger women to love their husbands, to love their children, to be discreet, chaste homemakers, good, obedient to their own husbands, that the word of God may not be blasphemed."
Blessings,
Ruth
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