FREE MONEY

What do you do when you get money that you were not expecting, all of your credit cards are paid off and you have no other debt. What you do with free money shows your attitude toward money. Most people should take this money and pay down their debt. They will not. They can always find something to spend it on that has more priority with them. They have no thought for the future. If you get it today, you spend it today is their motto.

I remember my parents telling me that money burned a hole in my pocket. The prophet Haggai called it putting money in bags with holes in them. The reason that people do not know what to do with free money is that they have no financial system in place to direct their actions. People like this believe that there is some mystery associated with money rather than thinking in terms of money absolutes.

Money like anything else that exists possesses certain properties. My parents also told me that money did not grow on trees. Our money today may come from trees but you cannot just go and pick it like fruit. It must be earned. One thing that needs to permeate our thinking is that money is scarce. We are living on a fixed income. This means having a budget in place. One needs to be aware of their financial situation. It is not a mystery. Money can be controlled. This control takes what people lack, self-discipline.

Without self-discipline, money will control you rather than the other way around. The government is sending out free money through the stimulus tax refund. I received mine by direct deposit on May 9, 2008. This is money that is extra. I already know what I am going to do with it. First, 10% will be paid for a tithe and the next 10% will be put in savings. This will leave 80% to be used in whatever way I choose.

I do not need to pay down any debt so, with the remaining 80%, can spent on whatever I wish. One of my daughters needs new glasses, so she is going to get them. My other daughter needs a new mattress for her bed. It is also Mother’s Day on Sunday. I do not buy and sell on Sunday, so I will take my wife and daughters out to eat. Whatever is left can be spent on some other need. The key is not overspending. Plan out what to spend the money on after taking care of the tithe and savings. Keep track of your expenditures and stop before you spend the whole amount. This is how the frugal handle getting free money. Go and do likewise.