Preparing for the Next Decade
Preparing Financially for the Decades -Part 1
Will you mind sharing with me the financial impacts you’ve seen over the decade calendar? Now Booma, I’d be happy to, but be careful of what you’re asking for. You see, finances on an ordinary scale are pretty scary. The average person never has enough and never will. It’s the uncommon person who finds a way to manage their finances well with whatever they possess. Let’s evaluate what we know and try to figure out what can be different if we apply a different mindset.
Decade 1 (0-9)
The most logical thought regarding the financial portfolio of a person in decade-1 is a person who has no money of their own. Yes, this is true, but let’s look at it a different way. Most individuals who have children in decade-1 are usually unhealthy when it comes to their finances. Therefore, as adults, we pass along these financial woes subliminally to our children. But what if you had plans to begin accumulating wealth for your child at an early age? Notice the word wealth. We’d rather use this term to describe putting resources away that are specifically designated for one’s child. Life for that child would start out ahead rather than behind as it is with most individuals. The goal for a parent who has a decade-1 child should be to find ways to propel their child ahead of the common financial outcomes a person naturally experiences in life.
Decade 2 (10-19)
From age 10-19 (decade-2), most people spend the majority of their funds on themselves. Booma, as you may recall, money in the hands of a teenager is not important. In fact, a teenager or person in decade-2 places very little value in money. They ask with the expectation that it (whatever they desire) is coming. While most think that this is bad, it really isn’t. It’s the same type of thinking God wishes for us, but we’d rather do it the hard way. You see, God wants us to ask for what we need. The Book is specific about this; “you have not because you asked not.” [1] However, when a parent has normal financial outcomes in their child’s decade-2, the struggles and lacks are obvious and it’s hard for the decade-2 child to understand the excuses.
Decade 3 (20-29)
From age 20-29 (decade-3), the money is spent on establishing a life for oneself. Decade-3 is where the money generally starts to roll in. It is also the decade where a lot of money must be spent and is needed. For example, when one completes college, he or she usually needs or desires to purchase a new car. And while I’m here, keep in mind that on the average, a new car purchase will occur in each decade if not two.
In decade-3, a person will need a new place to call home be it a house or an apartment. In either case, these are big ticket items. Then the biggest ticket item of all is starting a family which too occurs in decade-3. Whenever a person starts a family (have children), the expenses begin to roll in. Keep in mind that I’m saying all this not with the intent to scare you, but to give you what you need to be prepared for and see the future that’s coming your way. If you prepare now, then you won’t be caught off guard, or have your children caught off guard, or even miss an opportunity that might be more advantageous for you and the family you’re creating.
Ancient Proverbs give an analogy on how this is done. It says, one should consider the ants or take a personal development lesson from the ants which are typically ignored. They have a few keys to life that can make a huge difference. One of which is how they prepare for the changing seasons. It says they work hard in the summer storing up what they need to get through the winter. [2] This is key. Let’s look at our decades as if it were a change in the season. How you prepare financially in the preceding decade will determine what you have in the next decade. The summer is the perfect time to begin storing up for your winter season. You can not wait until winter to begin storing up; it will be too late. You can’t wait to prepare for decade-4 once it’s upon you, you must begin in decade-3.
Question: Are you working hard preparing what you need for the next season, next decade?
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Find out more about the Family plan here.Reference #1: James 4:2-3 NIV, Bible.com, accessed March 7, 2022, https://www.bible.com/bible/111/JAS.4.2-3.NIV
Reference #2: Proverbs 6:6-11 NLT, Bible.com, accessed March 7, 2022, https://www.bible.com/bible/116/PRO.6.6-11.NLT
All Scripture references used by permission, see our Scripture copyrights.
