Financial Want vs Need!

I pray that everyone enjoyed their Thanksgiving and gave thanks for who and what you have in your life. As we are well into the holiday season with about 6 weeks left prior to ending this year, we have reached the day that is known as “Black Friday.” It is believed that this term comes from the concept that businesses operate at a financial loss, or are “in the red,” until this particular time, as they turn a profit to put them “in the black.”

Unlike recent years, this Black Friday started back in some stores at the beginning of October to reduce the crowds and also to spark up financial losses that they might have incurred during this pandemic. The other good thing or thankful moment that has come from this pandemic in some households, is the opportunity to save money for this very time period. When spending our money, we often have to weigh the option of want vs need. Having the ability to choose between the two is a luxury that some people don’t have. Most people believe having more money is the key to happiness. In reality, more money can mean more maintenance, more details, more to manage, and possibly more headaches if you don’t know what to do with it.


Dave Ramsey, the trusted voice on money and business admitted at the age of twenty-six he had become a millionaire and by the age of twenty-eight, he was bankrupt. Over time, he humbled himself and started to read everything he could and interviewed people who had money and was able to keep it. In his book “The Legacy Journey,” he touches on the “Baby Steps.” that states:

NOW- you must take control of your money by correcting bad behaviors to stop the bleeding.

THEN- you must adopt a budget or financial plan to resolve your debt. US- you must shift the focus to your children and teach them the plan to financial security and building wealth for themselves. THEM- you must get outside of your micro view of yourself and look at the needs in your community and around the world and how you can make a financial difference in others lives." Children are imitators of their parents in all things including financial wisdom. Parents are usually the first source of guidance and wisdom as they learn how to navigate this part of their lives. Most children understand that the older generations have experienced a lot of things and know the challenges life brings. People who grew up in not so great neighborhoods, or lacked the basic necessities of life usually make a promise to themselves not to ever go back to those situations and if they have children, not let them endure that same lifestyle.


So, for the ones who are not as blessed as others and also the ones who are blessed but don't know how to manage your financial obligations, what is your plan of attack to get out of debt and put your family on the road to financial security? Is the road you are currently on going to allow you to have long-term wealth building that will enable you to leave a legacy for your future generations?

No one is perfect and we have all made mistakes with our finances, but the road to recovery starts with gaining wisdom and knowledge and by honestly examining the things that you are pursuing. Are those sale items you are pursuing today ultimately worth you going into more debt? #SPEAK2MYHEART


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