Let’s talk about money

This week I’d like to introduce the general topic of money management for seminary students. This is a huge topic, obviously. There are tons of people, programs, books and blogs dedicated to personal finance. It’s bewildering. I wouldn’t want to compete with them, and I’m definitely not qualified to.

However, it is critically important for seminary students to be wise managers of their money. “Yeah, right,” you say. “What money?”

Exactly. Poverty and seminary go hand in hand. It’s part of the glory of seminary–beater cars, cheap food, cheap dates, used books, Wal-Mart, WIC… I know you don’t have a lot of money. Doesn’t matter. You need to manage well what you have.

Also, you need a financial education. This is critically important. There are tons of ways you can get one. This week, I’ll share a few links to get you started. Coming soon: an interview with Lonnie, my longtime friend who is a financial planner.

For today: Get Rich Slowly is a great blog on personal finance. They share their Eight Ways to Take Control of Your Finances in 2008. Lots of good, basic introductory info here.

2 Replies to “Let’s talk about money”

  1. Thanks for posting the information on finances. Speaking from my own experience, here’s a suggestion related to student loans and financing your education. While it’s not always possible, I’d encourage all of you to take as few student loans as you can. Depending on the type of work (pastoral, teaching, missions, etc.) you’re going into, chances are you won’t be making a ton of money. Excessive student debt may seriously limit your options after school. As I continue my seminary education, I’m trying to pay as I go. Be creative about where you find money to help pay for school. Some employers offer tuition reimbursement. I didn’t think my employer would allow me to use my tuition benefit for school, but I asked anyways. Much to my surprise they said yes. I’d also suggest getting to know the folks in your financial aid/finance office. They may have some suggestions for scholarships and grants. My final suggestion is lots of prayer. God can bring about opportunities and circumstance that we couldn’t have come up with in our wildest dreams.

    ST

  2. Debt is a huge burden that should be avoided at all costs. It can place a huge amount of stress on a family, and believe me, Satan will use it against you.

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