My family is following Dave Ramsey’s strategy of financial peace. First you eliminate debt, then you invest (don’t worry Ramseyites, there’s saving in there too). The general concept is simple…why would you pay out interest from your debts, sometimes at a higher rate, while trying to collect interest from your investments? That would be a wash. So I haven’t begun investing yet…at least financially.
If money was time and/or energy, a similar concept could be adopted.
We all have things that steal away our time and energy: our jobs, obligations, things resulting from our inability to say no, etc. In some ways, these are our debts. If we could figure out a way to eliminate our debts, we then might be able to really invest in the things that bring life.
I just listened to a group of guys talk about our church’s confirmation and youth ministries with bright-eyed passion. They believe so much in the investment of youth ministry that they are willing to spend whatever extra time and energy they have toward that endeavor. Many of the kids don’t see or appreciate what they do, but the prayer and hope is that they will.
And that’s what makes it an investment, one that I would argue has potential for some major returns.
What do you feel called to invest in? What are you passionate about? And how might you eliminate some debts to have the ability for that investment?