The next time you pull a crumpled $5 bill out of your wallet, take a second to look at the distinguished, bearded man staring back at you.

Abraham Lincoln, along with the other famous men who appear on our money, had a lot to say about how we should use it.

You’re probably familiar with Benjamin Franklin’s famous saying, “A penny saved is a penny earned.” As we celebrate President’s Day, here are some other, lesser-known words of wisdom from our former presidents and founding fathers.

$1 bill – George Washington

“…nothing is a greater stranger to my breast, or a sin that 

my soul more abhors than that black and detestable one 

ingratitude.”

– letter from George Washington to Robert Dinwiddie; May 29, 1754

It’s easy to let thankfulness fall by the wayside when we’re struggling with debt. This is a great reminder to be thankful for our many blessings, even when times are tough.

Paul puts it this way: “Let the peace of Christ rule in your hearts, since as members of one body you were called to peace. And be thankful.” (Colossians 3:15, NIV).

$2 bill – Thomas Jefferson

“Never spend your money before you have it.”

– advice from Thomas Jefferson to his granddaughter, Cornelia Jefferson Randolph

It’s been more than 200 years since Thomas Jefferson was born, but his advice has never been more pertinent. Even though he never held a plastic credit card in his hand, you can bet he would have detested the now-commonplace practice of buying now and paying later.

$5 bill – Abraham Lincoln

“Leave nothing for tomorrow which can be done today.”

– notes from a lecture that Abraham Lincoln planned to deliver to future lawyers

This quote wasn’t necessarily meant to refer to personal finance, but it can certainly apply to that area. We live in a culture that strongly encourages procrastination when it comes to money. (Just watch a car commercial or an appliance ad.) Ignore the broke masses and listen to our 16^th president. Make a plan today to pay off debt, save for a rainy day and invest in the future.

$10 bill – Alexander Hamilton

“I never expect to see a perfect work from imperfect man.”

– from Alexander Hamilton’s Federalist Paper No. 85

This is another quote that can apply to many aspects of life, including personal finance. The road to financial freedom is filled with speed bumps, and none of us navigates it perfectly. Have you made a mistake recently that derailed your budget? Accept it and move on. Don’t allow it to halt your progress.

$100 bill – Benjamin Franklin

“He that is of the opinion money will do everything may well be suspected of doing everything for money.”

– from Benjamin Franklin’s publication, Poor Richard’s Almanack

This concept is so important, we’re skipping over the $20 and $50 bills and going straight for the “Benjamins.” Ben Franklin’s quote reminds us that we need to control our money—not the other way around. As the book of 1 Timothy tells us, “the love of money is a root of all kinds of evil.” It’s one thing to work diligently to achieve financial freedom; it’s another to allow money to become an idol.

This President’s Day, resolve to put these quotes into action, and you should have some extra Benjamins in your pocket in no time.

When you’re deep in debt and struggling to pay the bills, it’s easy to feel like everyone else is doing better than you.

Just flip through the channels on any given night, and a sense of pride or self-pity will seem completely justified. The cunning marketing campaigns seek to drown out reality: “You’re worth it. It’s your turn. You deserve this.” Even if you can’t afford it.

During the last few years, in the wake of the 2008 recession, the slogan, “We are the 99 percent” has practically become a household phrase. Members of the Occupy movement adopted it as a rallying cry to draw attention to the large concentration of wealth among the top 1 percent of income earners in the United States.

They’re correct in saying that the wealthiest Americans control a huge piece of the pie, but they’re missing the bigger picture— the global picture.

Here’s the Truth

If you’re living in the United States with a roof over your head, food on the table, and you can read this sentence, you are not the 99 percent.

In fact, there’s a good chance you are actually the 1 percent.

A London-based digital marketing company created an eye-opening project called the Global Rich List. It allows you to see where your wealth ranks you among the world population. According to the Global Rich List, if you make at least $33,000 a year, you’re in the top 1 percent. You are one of the richest people on earth.

Maybe you don’t make that much money. In fact, maybe you make less than half that amount. Guess what? With a $15,000 salary and no benefits, you still make the top 8 percent.

If it’s still not sinking in, here are some quick facts via Compassion:

When envy creeps into your mind as your neighbor shows off his new car, or your friend shows up in yet another new outfit, it’s easy to forget that 1.4 billion people live on $1.25 a day or less (visualize that number through the World Bank’s interactive map).

Of course, just knowing how fortunate you are on a global scale isn’t enough. Thankfulness is a decision, and it’s one we must make on a daily basis.

King Solomon knew what he was talking about when he wrote, “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.” (Ecclesiastes 5:10, NIV).

If we aren’t careful, we’ll go through life constantly wanting and never satisfied. But for those who follow Christ, there is always a reason to be thankful. And there is always a way out when envy, pride or greed starts to creep in.

Hebrews 13:5 says, “Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you” (ESV).

The Message puts it this way: “Don’t be obsessed with getting more material things.”

It can be an uphill battle living in America and pushing back against the consumerism that lurks around every corner, but God calls His people to a higher standard.

Remember, “religion that God our Father accepts as pure and faultless is this: to look after orphans and widows in their distress and to keep oneself from being polluted by the world” (James 1:27, NIV).

We are not the 99 percent. God has trusted us with a lot. Let’s strive to be faithful with every dollar.

By budgeting as a Christian family, you’ll be displaying the importance of bringing God into the center of your finances to your children.

Christian financial planning differs considerably from how society at large handles money. You will need to think differently to guide your family into alignment with Christian financial principles.

Where Budgeting As A Christian Family Differs

When finding how to bring God into your finances, some general ideas are clear.

We should focus on being generous, and serving others. Take care to be responsible with our abundant blessings. Living humbly and within our means, avoiding accumulating debts, and being diligent in business are all a part of managing our money Gods way. 

A cornerstone of Christian Financial Planning involves an emphasis on family and faith. In placing our focus on family, rather than material objects, we also have the opportunity to bring our family into the conversation of money. We can also define our treasures as a family. This helps us understand what each family member truly values. 

Fulfilling these responsibilities may seem like a tall order, but it’s worth it! These guidelines will help keep your finances under control. One look at the financial crisis so many are facing today speaks volumes. In some cases (surely not all!) the financial difficulties people face—even those caused by a pandemic—may have been avoided with careful Christian financial planning. 

Involving Your Family In Your Christian Budget

Budgeting is an invaluable financial skill that can help anyone stay out of debt and live within their means.

It will make it much easier to manage your finances to tithe or give, and pay your bills on time. You’ll be able to plan for upcoming expenses and save for future needs. If you don’t know how to start to bring God into your finances by creating a Christian budget, here is a great resource just for you. While often overlooked, it can also be a valuable part of a young person’s Christian financial education.

The Bible states that ” Now it is required that those who have been given a trust must prove faithful.” (I Corinthians 4:2). We are stewards over what God has entrusted to us. If we learn to be faithful with what God has given us today, He will entrust us with more (Matthew 25:21).

Start the Conversation Early

Teaching your children how to budget does not necessarily need to wait until they have a big upcoming purchase like a car or college books. 

It can begin at a very young age by promoting taking stock of what they have, and with self-moderation of treats and toys. Halloween is a great time to teach young children how to budget. Challenge them to see how long they can make their Halloween candy last. It is also a chance to discuss value.

As your children get older, consider offering an allowance. Be mindful and spend time sitting down to help them create a budget for their allowance. This is precisely how you budget as a Christian family. It starts with a conversation and an example. This is a great way to start the conversation about money and help your children learn how to manage their money properly. Encouraging tithing or other giving on their budget impresses their at a young age.

You can even encourage them to start a small business. 

Our seven-year-old son has had a great time offering lawn care to folks in our neighborhood.  He was thrilled to earn nearly $100. He is taking his time to decide what to do with his money. How much to give, where to give it, and how much to save have all made for great conversations. It has been a wonderful experience for him and us, and we’ve had a great time meeting new people in our ‘hood.

Conversations about Budgeting as a Christian Family

One of the most powerful things you can do to encourage good money habits in children is to have open conversations.

Allow them to ask questions. Speak candidly, but in ways that they will relate. Tell them about your own struggles to the extent you are comfortable. Very few people go through life financially unscathed. That’s why there are several Christian debt relief programs for people who are struggling. Discussions won’t eliminate struggles entirely. Instead, they will help them know they have someone to talk to when trouble comes along.

Even consider involving others. Multigenerational conversations about money can be fascinating! Financial concepts change over time. Seeing how these lessons are interpreted by our young ones can be a wonderful experience for all.

Leading By Example 

As a parent, you will be more successful in teaching your teen or young person to bring God into your finances if you follow the concept yourself.

Your example of diligently displaying your Christian financial planning in action will pave the way for your children to follow. For teens, budgeting should be encouraged for any form of income to include allowances, income from part-time jobs, gifts, etc. Through budgeting, your teens learn how to prioritize their spending and plan ahead so they, too, can bring God into their finances, serve others, and be successful themselves.

You and your children can always trust the “God” factor to come through in your lives when you are diligent to follow the financial principles in His Word.

Incorporating Biblical principles into your families financial lifestyle is essential when raising children in a Christian home. This three-part series expounds on the benefits of having of a strong Christian foundation in your finances and how you can pass that heritage onto your children.

We live in a class conscious society that places great value on material wealth and the ‘abundance of things which we possess.’ It seems the lines of division between the “haves” and “have nots” are being drawn increasingly clearer by the day and many Christians are having to make tough decisions on where they want to be.

In all honesty, most people would certainly agree that “having not” has little appeal. However, Jesus had no trouble telling the rich yourng ruler who had come to Him seeking the secret of eternal life to “go and sell all that you have and you will have treasure in heaven, and come follow Me.” (Matthew 19:21). This sure does not seem to place material objects in high regard.

From this and other Scripture that can be related to finance, it’s plain to see that God’s financial system differs greatly from that of society at large. In God’s financial system, the concept of “having” or “not having” is not as important as recognizing what the true “treasure” is to begin with and valuing it above all. In the case of the rich young ruler, his “treasure” was his earthly possessions which he valued most of all. Ironically, his possessions did not bring him complete happiness, satisfaction or peace of mind. Otherwise, why would he go to Jesus for the answers he sought?

The Bible teaches that where your “treasure” is, there will your heart be also (Matthew 6:21). Therefore, as a Christian, it is important to determine early on in life just what your “treasure” is going to be, as your “treasure” will have a big impact on the ethics of your finances at home. If wealth and material gain is your “treasure”, your financial decisions, career goals, business dealings, etc. will center around that purpose and, good or bad, your actions will be geared towards reaching that goal.

If you opt for “treasure in heaven,” it doesn’t necessarily mean you will lack financially. It does mean, however, that you’ll place greater priority on living God’s financial principles of generosity, selflessness and caring for the needs of others in your life.

Your perspective of what is truly valuable in life will determine how your finances play out in your home. Your perspective will have an impact on your family, friends, business associates and fellow employees. Your financial values (or lack thereof) could very well be the basis of the Christian financial education you bequeath unto your children.

We propose that you define your families treasure and lead your finances accordingly. Finances are not often discussed openly amongst families. Now, we are not suggesting that you sit down with your children and offer a breakdown of your income and expenses. We do suggest though, that you demonstrate biblical principals openly. Don’t just say that giving is good, but show your children how to give selflessly.

Make a routine of incorporating your entire family in your giving. Maybe you have decided that a percentage of your income or a particular dollar amount is dedicated to charitable contributions. A great way to involve your children is to allow them to choose the charity. An alternative is to match any amount set aside for donations that your child dedicates in their children’s budget (post coming soon in this series!) in order to show that you value their decision to give freely what God has given to them.

There is nothing more important than adopting Biblical principles into your financial lifestyle and passing those principles onto your children. God’s financial system carries with it a lifetime guarantee. Storing treasures in heaven begins with defining your families treasure, which should reflect your belief in God’s Word and His blessing for your financial supply.

In the next part of this series, we will discuss how to teach Biblical financial princples to our children and encourage them to adopt these principles into their lives.