Discretionary and non-discretionary spending

I’m Miriam Neff with Wise Women Managing Money-and I’m Valerie Neff Hogan

M  An important truth in managing our money wisely is discerning between discretionary and non-discretionary spending.  It’s easy for us to convince ourselves that some of our wants, discretionary, are necessities, non-discretionary.

V That teen may think a car is necessary, and even a very smart phone, and certain brands of clothes.  Families can establish early wise spending plans and communicate early that what others have does not dictate what we have.  The earlier the better.  We’re not saying this is easy, but it’s necessary.

M Children can learn early that their worth is not their stuff.  Popularity based on stuff is fluff, not substance. God’s view not people comparisons matters most.