This semester I'm taking a family finance class. I needed some electives and I hate the idea of wasting my tuition on easy, unimportant classes. I asked around and I had so many people tell me that SFL 260 was a class that changed their life, and so I registered.
Growing up my parents taught me a lot about hard work and earning the things I wanted. I was also very blessed though. I had everything I needed and was lucky to have many of my wants as well. I'm sure they tried, but because of my own carelessness I didn't learn, but the extent of what I remembered was basically don't spend your earnings, put it in the bank. I was involved in every activity our small school had to offer and so working wasn't really an option, there wasn't an hour in the school year that I could've made time for work unless I quit sports teams and fine arts. Each summer I worked for my dad, but due to sports camps and church camps, made little money to spend. What little I had went to savings. So I often found myself completely unaware and lost when people talked about finances, stocks, investments, loans, mortgages, taxes, and related subjects. Luckily, this is everything class is about!
We oftentimes joke with my dad about how lucky he is. He has 4 daughters, all of which hate shopping and spending money. This really has been a blessing for me! I hate spending money and feel guilty every time I swipe my debit card. I guess this is really how I save money.
I've learned a lot though. When I first got to class we focused on much of the discussion on why this was important to the Lord. I'm thankful that we can always find counsel on every subject and that He loves us enough to provide help and guidance, even in somewhat temporal things. I learned this is not just for you but for your eternal family as well. By being able to live within my means and becoming a financial steward, I'll find more peace and more happiness in life.
I struggled before class to really know how to budget. I would guesstimate and nothing really was effective. We discussed budgeting and I learned important categories and steps to make it beneficial. Perhaps one of the greatest lessons that has stuck with me was to "pay the Lord, then pay yourself." I always would pay my tithing and fast offerings first but never put money into savings. Since this class I have opened another account just for savings and have been trying to implement this principle more each month. I was unaware of how important a miscellaneous category was in a budget, I added one and now have a better method of tracking all my expenses.
I learned all about a Net Worth Statement and have challenged myself to keep and update that record each year.
I still may not know everything about finances, nor do I think it'll ever come easy for me to understand about mortgages, investing, and retirement plans, but I have learned little lessons to improve. I'm tried to implement what I have learned and I'm grateful to have a class that can make me a better person. Here's to learning and trying new things.
