For those of you new to Free Money Finance, I post on The Bible and Money every Sunday. Here's why.
Today I'm posting Proverbs 21:20, a verse that talks about the impacts of over-spending. From the NIV:
In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.
Another phrasing from the Contemporary English Version:
Be sensible and store up precious treasures—don’t waste them like a fool.
And from the New Living Translation:
The wise have wealth and luxury, but fools spend whatever they get.
This is my personal favorite "over-spending" verse. It basically says that you get wealthy by being wise and saving, while you become poor if you spend all that you make. It's a message (as you know) that I'm quite fond of! :)
What are your thoughts on this verse?
Re spending, I am curious how much people spend for lunches at work each month (for people who work full time outside their homes). I hate brown bag sandwiches and microwaved leftovers with a passion, plus I need a break from the office. but I feel guilty eating out every day. Maybe do a post on this sometime?
Posted by: Mc | April 07, 2013 at 11:35 AM
Mc: In the years from 1960 to 1992 at my final job four of us used to love to play cards at lunchtime so we brown bagged it. I also used to bring in a thermos of soup so it was the perfect solution for me. We played Pinochle but there were also Bridge groups all over the office that played. Apart from saving a huge amount of money over the years we enjoyed the friendships that it cultivated.
Posted by: Old Limey | April 07, 2013 at 12:19 PM
You definitely get wealthy by being wise and saving, while you become poor if you spend all that you make.
However since none of us have a crystal ball the more fortunate of us that follow this practice can easily end up overdoing it, as is happening to us, however it's a nice problem to have. It's nice to have a big cushion that can absorb unexpected blows and if those blows never come then you can always pass your surplus on to your children, or if you have no children there is no shortage of charities that will be only to glad to spend it for you. It amazes me sometimes how these charities get my name.
Posted by: Old Limey | April 07, 2013 at 12:47 PM
To Mc - This is a problem my husband and I have struggled with throughout the years. It's difficult when working in an environment where it seems like everyone always eats out. However, for us, it ultimately came (and continues to come) down to putting it into perspective. When we were first married - we packed lunches because we were broke. Then as we started earning more money, we'd get lazy and noticed that over the course of 2 weeks we could blow through upwards of $150-$200 just in lunches. However, over time we realized that if we were going to enjoy a meal out, we'd rather do it together as opposed to alone. Some strategies we've used to help over come it - 1) Assign the money you'd otherwise be spending on something productive or enjoyable. Maybe it's the extra padding to take on your yearly vacation or maybe it's going towards paying off debt, building savings, or giving back to your favorite charity. It's a lot easier and feels less like depravation if you're focusing on what you're getting out of NOT doing something than simply just not doing it. 2) Use your lunch time for something you enjoy. We all need a mental break during the day, so find something that you enjoy and do that. For me, I typically spend my lunch breaks reading - either a book or some of my favorite blogs. On nice days I go outside just to enjoy some fresh air and get away from my desk. I know people who use their lunch to take a walk or catch up on their bills (not something they "enjoy" but it frees up their time at home with their kids/spouses in the evenings). Use the time in a way that either brings you joy (reading for me) or helps you accomplish something.
As for getting past the usual brown bag special - it does get old at time I'll give you that. I don't really have any good suggestions, but I've found that when I'm getting frustrated by having the same thing every day, that (again) if I focus on what I'm gaining by doing this, it becomes less of struggle! Good luck!
Posted by: Jen | April 08, 2013 at 01:32 PM