Insights from Dr. Kim: The Money Crisis
Dr. Kim’s new book “14 Keys to Lasting Love: How to Have the Marriage You’ve Always Wanted” comes out on January 8, 2019. This book will change your marriage, and it will most certainly change you. Over the next few weeks, Dr. Kim will highlight some of the principles from the book in his weekly “Insights.”
Click here to pre-order your copy today.
According to a 2017 CNN report, most Americans have less than five hundred dollars in savings. That can cause stress in a marriage. Having no emergency fund when there is an emergency will cause problems. Where will the money come from? If a couple reaches retirement age with nothing saved, that causes more problems. It means one or both will have to continue to work, lower their standard of living, move in with their kids or do something else that they would rather not have to do. In either case, a couple can point fingers at each other and place blame. Having no money there when it is needed can cause big issues in a marriage. Having an emergency fund and planning for retirement make a difference in the money stress level in a marriage.
I also know many couples end up in a bad financial situation through no real fault of their own. The economy can turn, a job can be unexpectedly terminated, or there can be an illness that literally drains the bank account. There is no way we can anticipate the future, but there are some steps that will help us if things go bad.
First, pray for God’s wisdom with your finances.
Second, decide together to save. Get on the same team here and stay on the same team.
Third, if you are in debt, start a plan to get out. If a crisis comes, being debt-free can make a big difference.
Fourth, start saving. Get your emergency fund, then start saving for the future. It is not too late, and if you are young, you will never look back and regret that you were very intentional with your money.
As a couple, how would you respond to that CNN survey? Are you in the group with less than five hundred dollars in savings? Are you making good choices? Have you been putting off saving? Are you living like the debt is not there? What is your next step? You will feel a big weight lifted simply by making the decision to address your financial future together.
Next Step Resource:
FREE ONLINE BUDGETING CLASS
If money is a source of conflict in your marriage or if you just want to learn how to better manage money as a couple then this FREE course is for you. This course covers The 4 Budgeting Mistakes Most People Make and How to Fix them to Achieve Their Money Goals Faster.
When you pre-order Dr. Kim’s book 14 Keys To Lasting Love you get our House Prayer Cards for FREE! Simply pre-order your book here and then fill out this form to get your FREE House Prayer Cards by Awesome Marriage.