This might only be applicable to those people who live here in the States.This is not mandatory, it's just a great suggestion from a christian best selling Author : Dave Ramsey
( http://www.daveramsey.com/ ) This is what i got, from his book a little idea, which his #1 suggestion is what i am having at the moment, where the next step is too be followed by God's saving grace." It's always good to acknowledge God's grace."
I have read books from best selling authors Dave Ramsey is one of my favorites.Here's some of the tidbits i got, " THE HOUSEHOLD NEEDS TO HAVE "
One of Dave Ramseys' book : http://www.mytotalmoneymakeover.com/
1. $ 1,000.00 - Emergency fund.
2. Pay off all debt ( except the house ) utilizing the " debt snowball "
Debt snowball - list all your debts from smallest to largest.Start working the snowball and watch your victories grow.( I will share about snowball next time.)
3. Two - six months expenses in savings for emergencies.
4. Fully fund 15% into Pre-Tax Retirement plans & ROTH IRA, if eligible.
5. College funding
6. Pay off home early
7. Build wealth ( Mutual Fund & Real Estate)
Well, as a mom with three children growing, i am so encourage to read a lot of books about home management, money management, not just from ordinary authors but great authors where you really see them soarng high in their life. These authors have experienced being bankrupt, lost their home, from their beginnings, but they never gave up their dreams for a better life. They never forget God, and This author Dave Ramsey is even encouraging people to give 10% of their tithes to God to see how our heart works in terms of giving. Some Autrhors they may not empahisize 10% to God but still these rich people who made their dreams come true " GIVING 10% " to the needy are mostly part of their lives.
I believe, in what they apply to their lifestyle because other than tithing, in terms of giving, God will bless those people who will give no matter what denomination you belong.No wonder these rich people are so blest indeed because as part of the ladder they are climbing to become rich, or best, at the end of their goal...GIVING AWAY WHAT THEY HAVE IS PART OF THEIR LIFESTYLE.