Treavor Dodsworth CFP®, CPA, CKA®
#33 - Refocus
While reading Psalm 49 this morning, I was reminded of a core principle I believe about money.
Money is simply a tool that is used to buy and sell. It is not something to place our trust in. At times I catch myself looking at money for comfort and security. It is simply a tool, though. Would I place my trust in a wrench? Would I place my trust in a frying pan? Definitely not if I am holding it.
To oversimplify, there is a significant amount of money movement happening right now- both at the corporate and individual levels. With all of this change, money has been brought even more into focus than it usually is.
Hopefully, I am not being too open in admitting I needed the reminder that it is just money. It is a tool that we can steward while on this earth, but when we die, we don’t take our bank balance with us.
Steward it well with wisdom and understanding without overinflating its value.
Without forgetting that perspective, I want to highlight a few articles below.
Interesting Article(s) or Video(s)
Note: These articles were originally written based on the Senate's stimulus bill. The final stimulus bill was signed by Trump last Friday afternoon. It may take the editor's time to update any changes between the Senate's bill and the final bill.
Forbes - All You Wanted To Know About Those Tax Stimulus Checks But Were Afraid to Ask
The best laid out FAQ on the stimulus checks I have read so far.
Student Loan Planner - What the $2 Trillion Stimulus Plan Means For Your Student Loans
Travis gives his thoughts on the student loan provisions in the bill. For many student loan holders (particularly those pursuing forgiveness on an income-driven repayment plan), the changes will be very positive.
Forbes - What You Need to Know About Expanded Unemployment Benefits For COVID-19
Important read if you personally have been affected by COVID-19 or if you have employees / independent contractors that have.
Thank you for reading! Do you ever find yourself placing too much trust in something as temporary as money?