Loss of confidence or return to sanity?

Following up on Sunday's sermon on "material formation" based on Jesus' parable of the dishonest steward in Luke 16:1-13, this short piece appears as a "First Matters" column in this week's issue of the First Baptist Greenville News.

In Sunday’s children’s sermon, Susan Matthews told the children about the instructions about money that her father gave her when she was young. Out of every dollar, he told her,
• give 10% to the church;
• save 20% for large purchases and unexpected expenses; and
• spend 70% wisely.

Economists say that the American economy is recovering so slowly from “the Great Recession” because Americans have experienced a “loss of confidence” and are not spending enough to stimulate growth. Instead, we are saving more (about 6% of income according to a recent report, up from 2% in 2007). Sustained low spending and increased saving could keep the economy sluggish for years, they say.

This shift toward saving is hurting many of us whose livelihoods depend on retail sales, home sales, commercial development, and so on.

But in the long run, the homespun wisdom of the generation reared with the Great Depression of the 1930s in the rear-view mirror of their lives just might represent a return to sanity rather than a loss of confidence.

What are you teaching your children and grandchildren about giving, saving, spending?

This material is Copyrighted © 2010 by Jeffrey S. Rogers. It may be copied or disseminated for non-commercial use, provided this notice is included. The author can be contacted at jeff.rogers@firstbaptistgreenville.com.