Today’s word in the 100 Day Challenge is MONEY.
It is very important for you to teach your kids the importance of this word. I learned the hard way. I was ignorant about and careless with money. I was spiraling. Thankfully, with education and a wonderful wife, I was able to get a grasp on how important financial knowledge really is.
Today, I encourage people to get knowledge. My university of choice is Financial Peace University, a nine-week course taught by financial expert Dave Ramsey.
Ramsey says there are seven basic steps for winning with money. I will share the first two with you. These steps will set you on the path to financial freedom.
Step one is to get a simple emergency fund. That is $1,000 ($500 if you earn less than $20,000 per year). You need this because life happens. Cars will need repaired, appliances will stop working, you know how it is.
Step two is to get rid of your debt. Treat debt like a snake on your doorstep. Don’t welcome it in.
Today’s Winning Thought: Those basic principles, and a few others will give you financial peace.