There is a difference between paying off debt and saving money. With debt you are paying off a purchase you could not afford to pay for with cash.  Plus, you are paying even more than the purchase price because of the interest added on top.  This is what good consumers do.

With saving you are getting paid interest on your own money.  This is what producers do. Your money is producing income for you in the form of interest or dividends.

It seems like you are getting ahead in both cases, but technically, one (paying off debt) is actually buying something with an interest premium added on top, and the other is saving.  It is not the same thing.  

It may make more sense to pay off the debt before you save because of the interest you are paying on the debt.

BUT once the debt is paid off, you’re still broke.  You still have not followed the biblical admonition to save part of your income.

Proverbs 21:17 He that loveth pleasure shall be a poor man: he that loveth wine and oil shall not be rich.

However, if you save money, you have something to invest, you have something for your labor, you are following the sound wisdom of Proverbs.

Proverbs 21:20 There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.

Saving part of your income is a great habit, and it does something for your self-image to have money that you have saved in the bank. Believing God at His Word brings joy to the heart. Try it.  Pay off the debt, but save at the same time, so that by the time the debt is paid off you are well into the habit of saving.

When it comes to prosperity, this is another small piece of The Prosperous Life.

Some people have a long-term perspective on life. They give stock certificates as gifts to their children and grandchildren rather than trinkets that soon break.

The perspective some have on life is from one paycheck to the next.

The perspective some have on life is to live from year to year.

The perspective some have on life is for years down the road till the return of Christ.

Giving stock is a great way to open the doors to teach your children and grandchildren about finances.  You can help them see their lives down the road further than just the next shiny thing that comes along.

You can teach them that money is for saving not spending.

You can teach them that our family is a producer of wealth not a consumer of wealth.

You can teach them that our affluence comes from our balance sheets, not our stuff.

There are many things to teach our offspring and this is just a piece of biblical financial literacy.

Even if all you gave them was $100.00 per year in stock you are already fulfilling the verse:

Pro 13:22  A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.

And you will start them on the road to The Prosperous Life.

Some bills come in with all types of charges enumerated on the bill.  You may or may not need to pay all of these charges. You may be paying for things you are not even using.

This is a good time of the year, over the holidays, to take a good look at the small charges you are paying for.  It seems like everyone wants five dollars for access to their content, etc.   Are you actually using what you are paying for?  If not cancel it.

Benjamin Franklin once said, “Beware of little expenses; a small leak will sink a great ship.”

In some cases, you may be erroneously charged for things you don’t owe.  Many years ago a utility company where I live consistently overcharged people three or four dollars every month for some “line” item.  Eventually, they got sued and had to pay back millions of dollars to their clients.  An honest mistake on their part?  I don’t know, but what may be five dollars to you, multiplied by hundreds of thousands of people over the years, can make some companies a lot of money.  If you don’t understand the charge, call them up and ask them what it’s for or why you have to pay it.  It’s called being diligent or good stewardship. This is all part of learning how to live The Prosperous Life.

Our prayer for you is to have a happy and prosperous year in the coming months.

The Prosperous Life Staff