Self-Leadership in Personal Finance

The United States economy, as everyone well knows, is experiencing a correction. They say when Wall Street sneezes other markets catch cold. Google advertising has gone flat (still strong, but not growing, which sent the stock value plunging $250 per share) and people are charging less to their credit cards. Some see this as a crisis for a consumer economy driven by fear and greed. Others see wisdom and veiled hope as consumers think twice before opening our wallets. Imagine an entire country rediscovering the notion of personal responsibility….

Wanna survive a financial crunch? I offer three rules and three links for consideration as Personal Finance 101. We’ve tried our best to live by these rules during 22 years of marriage and they have served us well:
Rule #1. God owns it all.

Rule #2. Spend less than you earn. Over time you will be able to do most of what you want to do in life.

Rule #3. Divide your monthly income into three parts:
a. Give at least 10%. (Pay God first).
b. Save at least 10%. (Pay yourself next).
c. Plan to enjoy life on what remains.

For very practical wisdom and a knock on the side of the head, check out 10 Things I Know At 40 That I Wish I Knew At 20, everything-you-ever-really-needed-to-know-about-personal-finance-on-the-back-of-five-business-cards, and The last one gives excellent lifelong perspective on giving, saving, investing and diversification.

Self-leadership lesson: Live by the rules.

By Ken

Dr. Ken Cochrum (DMin, Bethel University) is Vice President of Global Digital Strategies at Cru (formerly Campus Crusade for Christ) in Orlando, Florida. An avid cyclist and aspiring guitarist, he also holds a degree in Mechanical Engineering from The University of Texas and a Masters of Arts in Biblical Studies from Dallas Theological Seminary. He recently co-founded, a movement passionate about connecting people to Jesus using digital strategies. He previously served as vice president of Cru’s student-led movements worldwide. He and his wife Ann spent 13 years in East Asia where they raised their two children. Ken blogs regularly at

One reply on “Self-Leadership in Personal Finance”

I like that you use the word correction. I’m excited to see what the US learns about money.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.