Taking Responsibility and Persevere
As a follow up to the previous post, and also to fulfill an assignment, I am writing this one.
So, the class that I am taking is Personal Finance, in the Self Reliance class set. These courses are provided to members of the Church of Jesus Christ of Latter Day Saints to cover a wide variety of courses from Personal Finance which is what I am currently enrolled in, to starting a business, and other subjects. They are designed to help members to be able to take care of themselves, and to help others.
In this chapter we discussed the idea of prioritizing debt, and focusing on paying debt off. It is unfortunate that these kind of things are not being taught as part of a High School curriculum. I had just finished reading Dave Ramsey's Total Money Makeover. I am fascinated by how many of the principles taught cross over. From assessing your financial state, to setting up emergency funds, to paying off debt, they are nearly step by step. On the Emergency Fund step, Dave says $1,000 and the Finance Course says a month's pay. The purpose of the step is critical for the next one. Which is where we are now in the course.
After prioritizing debt, one of the main things that has to be done is to stop using credit to get by. Now this seems obvious, but there are all sorts of things out there that can be a distraction, and that one can rationalize the use of credit. When the budget is set, one has to allocate money, whether electronically via a debit card, or by using the envelope system, where you take out cash at the beginning of the month for your expenses and put them in envelopes for that purpose. Groceries, gas, eating out, etc. Perhaps a hybrid system, paying bills online and using cash for day to day purchases. Knowing where money goes is critical to becoming financially free.
Most people who are wealthy did not start out that way. They got that way by living frugally, clearly defining needs and wants, and staying focused on a goal. Goals are equally important. Where are we going? President Monson, the previous President of the Church of Jesus Christ, quoted the Cheshire cat regarding a fork in the road. He said that if we don't know where we are going, it doesn't matter which way we choose.
Are we going through life like that? Not knowing where we are going, just going? If so, the life we are living will lead us nowhere. Not even to the things that we may want, simply because there is no defined path to reach our destination. Are you wandering? Am I wandering? A lot of times I feel like that, which is odd since I do have a destination, and am more or less doing those things that will get me there. But as I am writing this, I am feeling that the Cheshire Cat is reminding me that I am not focused, and so my choice may not be relevant. The key phrase was; "more or less doing those things". If one can't answer that one is DOING those things necessary to reach their goal, whether it be an education, marriage, or career; or a spiritual destination of returning to live with our Father in Heaven, then you aren't on the right path.
The escalator metaphor is appropriate here. Our eternal progression is comparable to walking up a down escalator. The escalator is not going so fast that we can't progress, but it doesn't stop. So, if we thinking we are doing okay, or maybe that we are doing enough and we pause, what happens? We start going backwards. This is pride, but it could also be a lack of motivation. We think we want to return to live with our Father, but if we aren't keeping a focus on it, then we are demonstrating our true desire, which is... what?
We have to be responsible for ourselves, and we have to set our goals and move forward. Those goals are applicable to our earthly stewardship as well as our eternal progression. We will be held to account for ourselves, and as parents, leaders, and teachers, we will answer for our stewardship in those environments as well.
So, the class that I am taking is Personal Finance, in the Self Reliance class set. These courses are provided to members of the Church of Jesus Christ of Latter Day Saints to cover a wide variety of courses from Personal Finance which is what I am currently enrolled in, to starting a business, and other subjects. They are designed to help members to be able to take care of themselves, and to help others.
In this chapter we discussed the idea of prioritizing debt, and focusing on paying debt off. It is unfortunate that these kind of things are not being taught as part of a High School curriculum. I had just finished reading Dave Ramsey's Total Money Makeover. I am fascinated by how many of the principles taught cross over. From assessing your financial state, to setting up emergency funds, to paying off debt, they are nearly step by step. On the Emergency Fund step, Dave says $1,000 and the Finance Course says a month's pay. The purpose of the step is critical for the next one. Which is where we are now in the course.
After prioritizing debt, one of the main things that has to be done is to stop using credit to get by. Now this seems obvious, but there are all sorts of things out there that can be a distraction, and that one can rationalize the use of credit. When the budget is set, one has to allocate money, whether electronically via a debit card, or by using the envelope system, where you take out cash at the beginning of the month for your expenses and put them in envelopes for that purpose. Groceries, gas, eating out, etc. Perhaps a hybrid system, paying bills online and using cash for day to day purchases. Knowing where money goes is critical to becoming financially free.
Most people who are wealthy did not start out that way. They got that way by living frugally, clearly defining needs and wants, and staying focused on a goal. Goals are equally important. Where are we going? President Monson, the previous President of the Church of Jesus Christ, quoted the Cheshire cat regarding a fork in the road. He said that if we don't know where we are going, it doesn't matter which way we choose.
Are we going through life like that? Not knowing where we are going, just going? If so, the life we are living will lead us nowhere. Not even to the things that we may want, simply because there is no defined path to reach our destination. Are you wandering? Am I wandering? A lot of times I feel like that, which is odd since I do have a destination, and am more or less doing those things that will get me there. But as I am writing this, I am feeling that the Cheshire Cat is reminding me that I am not focused, and so my choice may not be relevant. The key phrase was; "more or less doing those things". If one can't answer that one is DOING those things necessary to reach their goal, whether it be an education, marriage, or career; or a spiritual destination of returning to live with our Father in Heaven, then you aren't on the right path.
The escalator metaphor is appropriate here. Our eternal progression is comparable to walking up a down escalator. The escalator is not going so fast that we can't progress, but it doesn't stop. So, if we thinking we are doing okay, or maybe that we are doing enough and we pause, what happens? We start going backwards. This is pride, but it could also be a lack of motivation. We think we want to return to live with our Father, but if we aren't keeping a focus on it, then we are demonstrating our true desire, which is... what?
We have to be responsible for ourselves, and we have to set our goals and move forward. Those goals are applicable to our earthly stewardship as well as our eternal progression. We will be held to account for ourselves, and as parents, leaders, and teachers, we will answer for our stewardship in those environments as well.
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