S Stands for Saving (Journal Entry #13)
“I will save for my future, instead of spending my money as soon as I get it.”
Well, now this is a fun one! Not many of us are as diligent about this as we need to be so its a great time to learn from The Kingdom Code, Lesson #13 S Is For Savings!
Learning self control by saving not spending…
Set aside 15% of your money for your savings envelope. It will be easier not to spend it if you have it set aside for future expenses. There are 2 types of savings; long-term savings and emergency savings. The long term savings is a way to save for something large (like a car, house, computer ECT…) Emergency savings is to be used only in the case of a true emergency!
Jake is going to be starting a rabbit business so this will come in extremely handy to have money put back in case of an emergency like damage to his pen or the need to expand (long term savings).
He has decided to actually save 20% of his income to help it grow faster. We think its a wise idea to encourage him to save for future expenses versus getting toys or purchases quickly and then regretting them! Been there, done that!
“Keep your lives free from the love of money and be content with what you have, because God has said I will never leave you or forsake you.” Hebrews 13:5
Learn contentment, and practice saving not spending!
It is not easy to learn contentment in a world that screams at us to constantly buy, buy, buy! My sons like to watch YouTube videos but they struggle with all the toys shown because it immediately makes them want them. I get that because the more media I view the more things start piling on my want list. This week Jake is making a list of his needs versus wants.
That’s a fantastic lesson for all of us to learn, especially in light of current events. So happy saving and check back later for Lesson #14.
Check out our previous post Journal Entry #12!