Day 40: Begin Automatic Savings and Investment

Scripture to Memorize:
She opens her arms to the poor
and extends her hands to the needy.
When it snows, she has not fear for her household
for all of them are clothed in scarlet.
Proverbs 31:20-21
Passage to Read:
Pride only breeds quarrels
but wisdom is found in those who take advice.
Dishonest money dwindles away,
but he who gathers money little by little makes it grow.
Proverbs 13:10-11
Prayer:
Dear Lord, help me to always remember that pride only breeds quarrels, particularly in my home. Unwise decisions about finances and the pride which is unable to admit mistakes and let to quarrels and unkind words between myself and my husband. Heavenly Father thank you for providing me with the wisdom to take advice from people who can help me with my finances. Give me the wisdom to continue to follow that guidance. Holy Spirit help me to remember that dreams of speedy income or windfalls are pipe dreams that can only lead to disaster. Help me to always remember what works best is the little by little and letting it grow over time. Father God, please place wise counsel in my life to continue to teach me how to manage money wisely. Thank you in advance for these lessons and give me the strength to follow them. In Jesus name, Amen.
Personal:
In today's reading Donna is quoting some of the financial experts like David Bach, Robert Allen, and Dave Ramsey who say that we should pay our selfs first through savings. In other words save and then spend. She state that "experts agree you should save 10 percent of your income." One of the ways she recommends doing this if through your employers 401(k) plan. She then goes on to explain how people whose employer does not do 401(k) plans or the self-employed can do the same thing. I am fortunate in that I already follow this advice too since taking FPU. Also the 401(k) plan at work has various plans you can invest your money in. I am in one with a good return rate and yet that is fairly safe since I am so close to retirement. Someone younger could make more aggressive choices that may yield a higher rate. Currently my budget (as Dave Ramsey advises) lists tithe (10%), the savings (10%) and then monthly fixed expenses and then remainder of spending expenses then for months were there is money left over it goes into additional giving. I have made it automatic to save little by little and it has grown automatically. Now I no longer fear retirement because I know we will have enough to continue to enjoy the same standard of living we currently do, even when inflation is considered.
Affirmation: I invest wisely.
Practical:
I have already set up my savings and investment plan and it is on autopilot.