Do you have a saving account, 401K, IRA, college funds for your kids? Many of you have at least one of these accounts and some have all of them. A friend and I were discussing yesterday how much money is enough. Once your savings or 401K or which ever account reaches a certain point should you stop saving? Does our saving hinder our giving? Should we save more than we give or give more than we save? We did not come up with any firm answers. I then brought the topic up with Josh last night and he said, "when you make a choice to save money for yourself instead of helping someone in need that's to much." Here is an example: say you get a bonus at work. You decide to take your family out to dinner and save the rest even though you know there is a need you could meet with that bonus then that is not right. So it is not really about a number, but about your heart. If I can give to those in need and still provide for my family everything they need not want but need than I will give.
Since we are on the topic of saving I am currently reading Debt-Free U by Zac Bissonnette. This book is written to students in high school and college and their parents. It discusses how one can graduate with a 4 year degree debt free. I haven't read much, but it is good. I recommend you check it out at your public library (that is more eco-friendly that buying a copy).
I would love to hear your thoughts and tips on saving for retirement and college so leave a comment. :)
What a great thought from Josh :)...good post Suzanne. Trey and I finished Financial Peace University with Dave Ramsey in May and we learned so much. Right now we're paying off debt (rather quickly I might add! His methods and thought processes are great!!) and will continue to manage our money with our hands open. So, like Josh said, money can come in and go out as God desires...not in our control, it's all His!
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