My 5 for Friday (May 10, 2019)

How should pastors be thinking about generosity? What truths do graduates need to know about finances? And what are some essential money principles to teach to your kids?

All these questions and more are answered in this week’s My 5 for Friday.

  1. 12 “Hard Truths” For Graduates to Help Them Not Be Broke by Chris Cagle. With financial literacy at an all-time low for graduates, it’s important to offer a healthy reality check as to what it means to manage their money well. Check out this article from Chris Cagle where he highlights some basics that every graduate should know in regards to personal finance.
  2. Two Generosity Dreams Every Pastor Needs by Todd McMichen. For pastors who want to lead a their congregations towards generous-living, Todd McMichen asks this important question: “What is driving your passion for increased giving?” Keep reading to see how he believes pastors should be dreaming about generosity in their churches.
  3. Good leaders sometimes allow a little chaos and confusion to prevail: Here’s Why by Ron Edmondson. “If the leader always has everything clearly defined — if he or she is always ready with an answer — then why does the leader even need a team?” Here, Ron Edmondson points out that in confusion, often teams grow in creativity and problem-solving. Check it out.
  4. 5 Essential Money Principles to Teach Your Kids by Guy Hatcher. Where should you start with teaching your children basic financial principles? This article from Guy Hatcher lays out five financial principles he encourages parents to teach their children as well as practical lessons he’s used along the way.
  5. Understanding this investing basic can help you grow your money faster by Bob Pisani. The concept of compounding is simple, but many people often neglect that advantage of time that comes with it. In order to prepare well for retirement, Bob Pisani points out that one has to understand this basic investment principle in order to grow your money.

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