The Basics of Family Home Storage
* Three - Month Supply
* Drinking Water
*Financial Reserve
*Longer-Term Supply
Financial preparedness is an integral part of provident living and
should be a part of every family's preparedness plan. This can be
difficult when it's all we can do to get through the month without
going into the red, but as is the case in most things, small efforts
can bring large results. It's that "baby steps" principle that I'm so
fond of.
The following are the basics of family finances:
*Pay Tithes and Offerings
Successful family finances begin with the payment of an honest
tithe and giving generously to help others in need. The Lord has
promised to open the windows of heaven and pour out great blessings
upon those who pay tithes and offerings faithfully. You can read
more about our experiences in learning this principle here.
*Avoid Debt
Spending less money than you make is essential to your financial
security. Avoid debt like the plague, with the exception of buying
a modest home or paying for things like an education. Debt is easy
to acquire. Everywhere you look someone is trying to sell you
something on credit. We live in a very materialistic world that
encourages us to buy, buy, buy. "Buy now, pay later" has become
the mantra of this generation. The idea of actually saving to make
purchases is foreign to many.
Debt is a crushing burden that can destroy your peace and your
relationships. Did you know that more marriages end in divorce
due to financial difficulties than any other reason? It's scary and
can be avoided. If you already find yourself in debt, work to get
out. Cut up those credit cards. There are many programs that can
help. I especially like Dave Ramsey's Total Money Makeover.
It's good, old fashioned common sense approach works. Of course
it only works if you are willing to make the sacrifices required and
change the way you view and use money.
I appreciate having a husband who has always been debt phobic.
He has done a great job managing our finances in such a way that
we do not have the strain of debt on our family. On his fortieth
birthday, his gift to himself and our family was to be mortgage free.
He worked hard to make that happen and we have weathered the
recent economic storms safely because of his foresight. We don't
know what the future holds, but we know we have a home to live
in. That is peace.
•Use a Budget
Budgeting is a dirty word to many, but can be the tool to help
you get out of debt and learn to live within your means. Learn to
keep a record of your expenses- write it all down. Once you
see where your money is going, challenge yourself to cut back.
Learn to use cash and the envelope system- it's the basic way
to budget and when the money is gone, you don't spend anymore.
When I find that I'm spending too much on certain things (like
groceries or going out to eat) I go back to the envelope system
and spend cash only. It's easy to overspend when you just swipe
a debit card or write out a check- but using cash always reigns me
back in. Budgeting requires discipline and it's good for us! Dave
Ramsey's program goes into great depth on how to do this.
* Build a Reserve
Having some cash on hand is a good idea in any emergency.
You may not be able to get to a bank or be able to use a debit
card, so we should always have some cash set back. ( in small
denominations)
After paying tithes and offerings, we should pay ourselves before
we pay anything else. That money should go into savings and be
used for emergencies only. If you save a little money regularly,
you will be surprised how it will add up. We should work until
we have six months of living expenses in our emergency fund.
That can seem like a daunting task, but little by little it will grow.
* Teach Family Members
Teach your family members the principles of financial management.
Kids need to learn how to make a budget and how to set financial
goals before they leave home. They need to learn the principles of
hard work, frugality and saving. They need to know how to balance
a checkbook and know the dangers of debt. I wish I could go back
and do this part over again. We tried....but I think we could have
done a better job at preparing them for the real world.
These are the basics of family finances and preparing a financial
reserve. These thoughts are just the tip of the iceberg and you can
get more information on this at www.providentliving.org. along
with a free online course on family finances. And check out that
Dave Ramsey program....it's a good one.
*MYOF Goal #18 - Work on monthly storage and preparedness goals.



