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4 Practical Questions on Using Your Money

For the next several weeks, I’m writing a series of blogs on “4”: 4 Questions, 4 Things, etc. Read the entire series. It’s a way of offering concise commentary. Hope you enjoy this series of “4”!

Perhaps it’s happened to you: You are walking across the parking lot and discover a $20 bill, and there are no people and no cars nearby. You pocket the $20. What will you do with it?

What you do with your money is a question that applies to everyone—whether you have a little or a lot. When I was practicing law, I was assigned certain pro bono cases in which I represented clients in some of the lowest income areas. When I visited their apartments, I was surprised to find some of the latest and best electronics of all kinds. On the other hand, I also had occasion to visit the homes of some others who lived quite frugally, yet gave quite generously.

It comes down to choice: What will I do with what I have?

Here are 4 questions to prompt discussion for your family:

  1. What percentage of income do you save each month?
  2. What items on your shopping list are essential—necessary for survival—and which are wants or desires?
  3. If you suddenly received an inheritance, a windfall, what would you do with the proceeds?
  4. What items do you purchase and then throw out quickly, and which do you keep for longer periods of time?

Do you have your own starter questions for family discussions? Let me know in the comments.

Related articles:
Why Do Lottery Winners Lose Their Wealth?
10 Great Discussion Questions About Sharing, Saving & Spending
What Can We Learn About How Much the Wealthy Give?

About Bill High

Bill is CEO of the Signatry: A Global Christian Foundation. He works with families, individual givers, and financial advisers to share the foundation’s message regarding biblical generosity and charitable giving. » Learn More. He is the co-author with David Green of Giving It All Away and Getting It All Back Again: The Way of Living Generously.

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