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What to Do with A Million Dollars
People often get asked, "What would you do if you had a million dollars?" Here are some suggestions for stretching the lump sum and putting it to excellent use!
Sunday, February 19, 2012
First Things First: True Celebration
If somehow you or I get awarded a large sum of money, I suggest three first steps in the use of the money: paying a tithe and charity donation, paying off all debts and setting the taxes aside. I know, the tedious details sound boring. Still, who doesn’t want to get out of debt? I would really have cause for celebration if I had money for a good donation to my favourite charities, my debts were paid and I had money set aside to take care of my taxes.
Yes, I am a firm believer in pulling out the tithe and offering first. The Bible teaches tithe paying and offering. The principles of giving back run all through the Bible. I simply love the idea of paying back or paying forward. When I give first from what I have received, I feel empowered to use the rest of my money well and it stretches better. Generosity is one of the healthiest traits of character that keeps the heart and motives clean. Gratitude makes the world turn as far as I am concerned. When I get something and share it, I feel that life is worth living and I love to see the good that my giving can achieve in the world.
Thinking about taxes, they are a part of good citizenship, and a necessary part of life. I am always relieved when I have my taxes taken care of for another year. If I had a lump sum of money, I would need to put away enough money to pay taxes on that amount. I might want to go ahead and put away enough for my normal yearly payment because I work from home. Then, I do not come to tax paying time and have to find a way to pay up what is due in taxes at that time.
Then, paying off those debts that have hung over me! When someone is in debt for any reason, they are a slave to that money amount and the entity to which the money is owed. When the interest is low, we do not feel too much pressure because we have been conditioned to feel that some level of debt is a necessary part of life. True, we must sometimes borrow in the short-term. Still, we should consider it a temporary condition that we will soon overcome by paying it off as quickly as possible. We are free when we are free of debt!
When we take care of these first three steps in using that lump sum of money that has come our way, we do have reason to celebrate. I can find a lot of ways to celebrate that do not include using all of the rest of the money. I can make merry and have a party by having a big meal and evening with friends or going away for the weekend to a beautiful location.
Being conservative with the money can be the best way of making the joy last and prolonging the pleasure of having some money on hand. Besides when I take time to really get into the act of appreciating something to its fullest, I get the most out of something that is possible. Like when I make a tasty dish like lasagne and I let the flavors come to me through the aroma. I can place a bite in my mouth and just let those flavors play across my tongue, savouring each nuance of taste before chewing and swallowing.
Anyway, taking those few steps can put us on the way to really feeling good about our windfall money. We can feel good about ourselves as we parcel out the money for tithe and offering, taxes and paying off those debts. We then really feel like celebrating ourselves, our blessings and our lives!
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