For those of you new to Free Money Finance, I post on The Bible and Money every Sunday. Here's why.
Every once in a while I will get a comment like "that's comment sense!" (or something similar) to a post on spending less than you earn, saving for the future, and the like. The implication is that "everyone knows this stuff already". But while that maybe once was true, it's not true today. In money matters for 2012, common sense is not so common.
If you don't believe me, look at the debt Americans have, the amount we've saved for retirement (or not saved for retirement as the case may be), and the overall general financial health of the average American. If "average" and "common" go together, then it's clear that most people are not implementing "common" sense financial principles.
This theme keeps popping up in my life. I get it here at FMF, discussed it at lunch with friends recently, noted it with another friend in passing, and so on. I was remind of the subject again when I saw this video by financial author Dave Ramsey (the last video on that page). It's from a sermon he recently preached at Willow Creek church in Chicago. About 12 1/2 minutes into the speech, he talks about how the Bible dispenses age-old financial wisdom. He says:
It's what we call common sense. Only it's not real common anymore and I make a really good living spreading it around. It's ridiculous.
He then jokes about how people already know the stuff in his books and they buy them anyway.
This made me laugh because it's true. He gives out advice that used to be "common," but it isn't really any longer. And he makes a lot of money doing it! It's the same here at FMF (the advice part, not the "lots of money" part.) :)
This whole subject brought up a couple things I've noted previously that I thought were worth repeating
- If you follow the basic financial advice in the Bible, what I've called the seven pillars of financial success, you WILL become wealthy. How can I be so sure? It's simple math.
- The reason common sense isn't so common any longer is because it's simple to understand but not easy to implement. And in general, Americans are lacking the will to implement anything that requires a good amount of effort. The thing that is missing is discipline, and discipline is the key to becoming wealthy.