My youngest son recently turned 16. Like many of his peers—but unlike me when I was his age—he wasn’t ready to take his driver’s test on his 16th birthday. But he’s eager to get his license soon and he’s dreaming of buying his first car.
On his birthday, his grandmother gave him a generous cash gift to put toward the purchase of that first car. Though it was a sizeable sum, the check he received from Grammy isn’t enough to cover the cost of the V8 muscle car he’s been dreaming about. In hopes of maximizing his purchasing power, he asked me about the possibility of investing “the car fund.” I think his exact words to me were, “How much do you think I could earn if I invested it?”
Since we’re now less than two months away from the date of his driver’s test, I know he doesn’t have enough time to earn a significant return without taking excessive risk. But I also know that sometimes teenagers prefer to take advice from adults other than their parents, so I scheduled an appointment for the two of us to discuss options with a family friend who works in finance.
This friend, though knowledgeable, isn’t a believer. Still, my son respects him, and I expected his input to be educational (even if it wasn’t overtly biblical). I was right. He explained how a few months is a relatively short time for any kind of investment, and patiently described various options. Toward the end of our conversation, he gave us a great nugget of insight. He said, “Investments alone don’t build wealth. Healthy habits over time build wealth.”
It was a catchy and memorable phrase. Even though I hope my children aspire to do more with their finances than “build wealth,” I acknowledge that the rate of return is a major consideration right now for my son because he needs additional funds in order to buy a reliable vehicle. Most importantly, the Bible repeatedly affirms the need to develop healthy habits. Galatians 6:9, for example, says, “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Paul was writing of a spiritual harvest, but I believe the principle applies to all areas of life, including finances.
As my son and I walked away from our meeting with my financially savvy friend, we talked about healthy and unhealthy financial habits. We agreed that the most important financial habit he can develop now is working. He currently has a part-time job that pays him $18 per hour—a significant number for a teenager. Continuing to work hard and earn income is the healthiest habit he can develop right now. His bi-weekly paycheck is increasing his car fund much faster than his investments.
Of course, this truth—like all truth—is grounded in God’s word. One of my life verses is Colossians 3:23, “Whatever you do, work at it with all your heart, as working for the Lord, not for human masters.” The very next verse gives the reason why: “since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving.” Hard work has both an earthly and a heavenly reward. It produces financial and spiritual returns.
Indeed, working hard might be one of the healthiest habits a teenager can develop. I’m so glad my son agrees with this conclusion. But perhaps you’re already retired and no longer earning income. Maybe your spouse is employed full-time, and you are spending this season of life staying home to raise your children. What then? No matter what, you can still develop and maintain healthy habits, based on principles found in Scripture. For example: spend less than you make, give freely to those who ask, support the Lord’s work through your tithes and offerings. In all things, “It is the Lord Christ you are serving.”
What healthy habits have you kept throughout your life? Which are you hoping to establish? We want to hear from you. Email us at info@cifinc.org to share your thoughts, and we might include them in a future post.
