Growing up my parents were adamant about making sure we understood the importance of working hard. It was a legacy they left us with, that handwork and dedication was the only way to make sure you succeeded.
As my siblings and I got older our parents were adamant about making sure they discussed their finances and investments. When I got my first job as a tour guide at thirteen, I remember discussing the 401k plan, the health benefits, and other benefits for the position. At the time I found the paperwork to be overwhelming, but my parents explained everything I couldn’t understand.
This was my first understanding of the Bible’s reference to leaving an inheritance and the concept of saving for the future.
A good person leaves an inheritance for their children’s children, but a sinner’s wealth is stored up for the righteous. Proverbs 13:22
About a year ago my mother called to tell me she was writing her will. I was surprised, in fact, I insisted that I did not want to know what she had written in her will. After all, my siblings and I are very close. I imagined we would never disagree regarding our parent’s money. When I later joined the Financial Peace class by Dave Ramsey, I understood why she was writing a will.
But remember the Lord your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today. Deuteronomy 8:18
Beyond giving a foundational understanding of ones finances and what the Bible says about being financially successful, the course elaborates on the importance of leaving an inheritance for your family. God wants us to live in a way that we can give back. He is not a God of confusion, by getting our finances in order we are abiding in him. Much like the spiritual inheritance we leave for our kids- to follow in God’s teachings as Christians, the financial inheritance is a way to honor him. From tithing to donating to a charitable cause, these are all ways we are honoring God.
Leaving an inheritance includes being financially stable. It means not leaving your family with a financial burden. It requires teaching your children to be financially stable, from an early age my parents took us to the bank and helped us manage our savings account. It wasn’t until I became an adult that I realized they were teaching us to be financially stable. They also taught us not to buy what we couldn’t afford, they were clear about what could have and what we couldn’t. They taught us to save for what we wanted and we learned to appreciate these items more because we had spent our own money on purchasing them.
Leaving an inheritance also requires planning for your kids future. It requires creating a will so that your family is not overwhelmed with the guilt of making decisions that they feel you may or may not agree with.
The concept of leaving an inheritance may seem overwhelming to a lot of us as is often the topic of finances. Dave Ramsey’s Financial Peace University is a wonderful place to start. The course focuses on practical steps you can take to find financial peace. It also gives biblical references along the way, referring to the what the Bible says about our finances.
Like my first job as a tour guide, I am reminded of how complex these decisions can be. I realize it takes time to understand where to start, what to invest in, how much to invest. But, with guidance you too can learn the importance of leaving an inheritance and how to go about doing it.
We want to know:
What steps are you taking to leave an inheritance for your family?
How are you teaching your family to be financially stable?