Tag Archives: teen

BBM Interviews Mary Johnson: A College Student’s Money Perspective

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Mary Johnson is the daughter of Lisa and Darren Johnson, a Godly couple my wife and I befriended while attending Calvary CHapel of Idaho Falls, ID. Both parents are hard-working, dedicated to God and very friendly to those around them. It is no surprise that their work ethic and perspective on money has been passed down to their daughter who exhibits discipline, kindness and a great head on her shoulders. I am very glad to have interviewed this young lady. Keep reading and you’ll see why.

BBM: Is the Bible one of your Financial Education sources? Why or why not?

Mary: Yes. If I use the Bible to guide other aspects of my life like avoiding sin or loving others, I can apply it to my finances. Dave Ramsey helped me see how much the Bible actually talks about money.

BBM: Do you believe that small business contributes positively to the economy? If yes, how so?

Mary: I’m not too educated on this topic, but yes I do. I think it allows average people to have a say regarding governments laws on business and have- even though it may be small- a piece of the market “pie”.

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BBM: How do you manage your finances? (Examples: Financial adviser, spreadsheets, envelope system, checkbook register, a combination of tools, or something else)

Mary: I currently use a form of the envelope system. At the beginning of the month, I estimate how much I’ll make and list all of my expenses, including “fun money”. The most important things are at the top: tithe, gas, and other bills. Every dollar gets accounted for, before I even spend a dollar. I then get out some categories in cash, like tithe and my fun” money. Some of the other expenses are only on my card, like my phone payment and gas. If I have any left over at the end of the month, it either goes towards savings or towards next months expenses. I’ve been told that it takes time to really perfect this system, but so far I’ve enjoyed it. It takes away a lot of my spending guilt when I know what I have in my wallet is what I can spend:)

BBM: At what age did you begin to form a “Financial Freedom mindset”?

Mary: I began this mindset literally 7 weeks ago, so age 18.

BBM: Why do you believe financial wisdom is important?

Mary: Debt has the power to steal away so much peace. It can ruin marriages, keep people stuck doing something they didn’t want to do in life, and above all, it can keep one from pursuing the Lords calling. If i know I have the power to avoid all that, I’m going to take advantage of it. Wouldn’t you?

BBM: How do you feel about credit cards as a young lady getting ready to enter college?

Mary: I know I could go my entire life without ever needing one. I know that sounds crazy, but if I plan on never needing loans for anything, I don’t need to “build my credit”. They can be OK if you have good self discipline and are maybe at a later stage in life than I’m currently positioned, but for college students, I recommend they stay far away from them.

BBM: Is “giving back” part of your future financial strategy? If yes, how so? If no, do you think it should be added to your plan?

Mary: Yes. Tithing has always been something I have done since I got my first paycheck. Besides tithing, I believe it is important to be open financially to give if an opportunity comes along. My dream is to be able to give back by going on a mission (or multiple) and though you’re going to serve others, you have to pay your way out there.

BBM: Have you read the book “Do Hard Things”? If yes, did you enjoy it? If no, would you read it if it was bought for you?

Mary: Yes! I love it.

BBM: Do you think society expects too little of adolescents & teens?

Mary: Definitely. Still being in the teens myself, I feel the drag of society pulling on me saying you don’t need to be responsible, you’re young. You can’t really do much anyway”. As a result, our young people feel that they can’t accomplish anything until later, so they usually don’t even try. What would our world be like if young people took a stand and started really doing the hard stuff while they were young?.

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That is a perfect question to pose at the ending of this interview. It is a question that both parents and their adolescent/teen children should ask themselves. Let’s stop acting as if our young ones cannot achieve extraordinary things. In fact, let’s start requiring it of them!!

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Teen Business Owners-Part Three: Contributing To Society

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There are many reasons why I love to support and highlight small businesses. One of those reasons is the business owner’s contribution to the surrounding community. Bright Balance Ministries believes it is of the utmost importance to expose our teens to the truth of this contribution and, more importantly, show them how they can become a part of it.

The Bible’s account of The Good Samaritan in Luke 10:25-37 reminds us that everyone we come into contact with is our neighbor and we are all responsible for each other. Also in Matthew 25: 34-40 God speaks of feeding the hungry and clothing those who need it.

“Then the King will say to those on his right, ‘Come, you who are blessed by my Father, inherit the Kingdom prepared for you from the creation of the world. For I was hungry, and you fed me. I was thirsty, and you gave me a drink. I was a stranger, and you invited me into your home. I was naked, and you gave me clothing. I was sick, and you cared for me. I was in prison, and you visited me. ’
“Then these righteous ones will reply, ‘Lord, when did we ever see you hungry and feed you? Or thirsty and give you something to drink? Or a stranger and show you hospitality? Or naked and give you clothing? When did we ever see you sick or in prison and visit you? ’ “And the King will say, ‘I tell you the truth, when you did it to one of the least of these my brothers and sisters, you were doing it to me!’

So what does Teen Entrepreneurship have to do with taking care of the needy?

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As a small business owner I know the money I earn from doing business with my neighbors stays in my neighborhood. I spend money at the local grocery stores, pawn shops, mechanic, etc. This allows my surrounding community to profit from my earnings. Also, since locally owned small businesses usually charge less I am able to save money for the specific purpose of helping those less fortunate than my wife and I.

Imagine instilling this type of discipline in your teen and adolescent children. Once they learn how to conduct business, they’ll appreciate the effort needed to turn fifteen cents into a dollar. This will help create compassion in their hearts for those who are trapped in the deep pit of poverty. This is one way teenaged Good Samarians are created.

Imagine your child owning a lemonade stand, lawn care business or babysitting service. If they work hard they will gain enough business that they find themselves in need of employees. This is the second way they can contribute to society- creating jobs.

Have you ever noticed that politicians often campaign using the “I will create more jobs” promise? Corporate business owners like Donald Trump desiring to move into a new location often publicize the many jobs they’ll bring to the community. The reason for this is they fully understand how important job creation’s impact is on a community. When you create jobs you create opportunity for financial stability.

Let’s say there is a town with a population of 10,000 people. Imagine that 4,000 of them are unemployed. In this situation 6,000 people work and provide for all 10,000. This is not a perfect analogy but you get the point. This causes strain on those who are employed. There are not enough shoulders to help bear the economic load. But let’s say several members of this population open businesses of varying types and sizes creating three thousand jobs. Now there are only one thousand people unemployed and three thousand additional shoulders have stepped in to help lift the economy. This is economic growth brought on by business owners, not legislature, not law-makers or hand outs but entrepreneurs creating opportunity!!

Did you know the Bible talks about farmers creating opportunity for the poor?

“During the seventh year, let the land lie unplowed and unused. Then the poor among your people may get food from it, and the wild animals may eat what they leave. Do the same with your vineyard and your olive grove.” Exodus 23:11

“Do not go over your vineyard a second time or pick up the grapes that have fallen. Leave them for the poor and the alien. I am the LORD your God.” Leviticus 19:10

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In both these verses the excess is left for those who cannot provide for themselves. The hard working homeless in our society are willing to do what it takes to get out of their financial slump, we just need to give them the chance to do so.

I can imagine a homeless man who sees the fallen grapes of a vineyard and the untouched potatoes left behind on purpose by a potato farmer. The homeless man gathers these goods, eats a few grapes to satisfy his stomach and then barters with several other fruit and vegetable farmers in exchange for several other ingredients which he then uses to make a large pot of soup. Also imagine that he takes a bowl of soup to the local seamstress and barters for her services. His ripped clothes are now mended. This brings a high level of satisfaction, accomplishment and comfort to someone who lives outside in the harsh weather. Slowly but surely this man moves from the financial desert to financial stability all because the entrepreneurs around him created opportunity for him to pull himself up.

This is a system of generosity in which we should teach our children to participate. We need to imagine a world much better than the one we live in now. Then beg God’s guidance and wisdom in addressing the issues we face. The entrepreneurial attitude needs to be infused into the following generations in order for us to repeat the many successes of our past so that we may more positively affect our futures.