Top o’ the Mornin’ to Ya!
Baby Step 7 is the most exciting step of all – building wealth and giving generously! Remember the joy of giving gifts as a child, and how it quickly eclipsed the desire to receive? There’s something powerful that happens in our spirits when we learn to give selflessly.
Robert Kiyosaki’s Cashflow board game illustrates this beautifully. Once your passive income exceeds your expenses, you’ve escaped the “rat race” and can focus on making an impact through your wealth. Every other space on the “fast track” involves some form of giving back, like creating financial literacy camps for kids or buying a forest to preserve it.
Personally, our family is in the midst of Baby Steps 4-7 simultaneously. We’re not aggressively paying off our mortgage at the moment, but instead focusing on building wealth to create value and give generously.
I used to struggle with receiving gifts or help, feeling like I needed to do everything myself. But I’m learning that blocking someone’s generosity actually hinders a spiritual blessing. Just like I can’t “catch up” on giving to earn God’s favor, because Jesus has already paid it all! His grace frees me to give out of love, not obligation. I don’t have to keep score.
The whole point of building wealth is to be imitators of Christ, using our resources to bless our families, churches, and communities. That’s why giving is such a key part of a healthy budget.
To dive deeper, my philosophy or financial literacy is due to the teachings of Dave Ramsey, Ramit Sethi, Stephen Covey, Tony Robbins, and Robert Kiyosaki. I’ll include some links below. But remember, Baby Steps 1-3 come first. Focus on getting out of debt and building that emergency fund to achieve financial peace. Then move beyond to abundance and impact (my type of AI).
Keep growing in generosity and gratitude, and just watch how God multiplies it to change lives!
You be blessed!
Here’s a quick overview of the seven baby steps:
1. Save $1,000 for a starter emergency fund
2. Pay off all debt (except the house) using the debt snowball method
3. Save 3-6 months of expenses in a full emergency fund
4. Invest 15% of household income into retirement
5. Fund kids’ college education
6. Pay off the home mortgage
7. Build wealth and give generously
You be blessed!
Affiliate Links:
Total Money Makeover by Dave Ramsey https://amzn.to/3ULx3sV
I Will Teach You To Be Rich by Ramit Sethi https://amzn.to/44J6F7I
Rich Dad Poor Dad by Robert Kiyosaki https://amzn.to/3WIDXSm
Cashflow Quadrant by Robert Kiyosaki https://amzn.to/3xHHO7G
Rich Dad Classics by Robert Kiyosaki https://amzn.to/3UIg9vh
7 Habits of Highly Effective People by Stephen Covey https://amzn.to/3K0J4Gd
7 Habits of Highly Effective People for Teens by Sean Covey https://amzn.to/3yvltKZ
Cashflow Board Game https://amzn.to/3QQkrzQ
