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Saving Before Spending
By Ingrid Skjong
 Josh and Joani Moberg take financial responsibility to a new level—right down to their 21/2-year-old son, Christian, who already has a 529 college savings plan worth $4,000 and a pair of $50,000 whole-life insurance policies purchased for him when he was “age 0” to guarantee future insurability.
“Don’t wait to save. The power of compounding interest and long-term growth is truly awesome,” says Josh, 30, who has a master’s degree in organizational management and is the part-time development director for Luther Park Bible Camp in Danbury, Wisconsin.
Married for seven years, Josh and Joani, 32, a Minneapolis attorney, take full advantage of tax benefits, maximize Roth IRAs, save long-term in a 401(k) and live frugally by driving used cars and forgoing cable TV. The little sacrifices are worth it—the couple eradicated $80,000 in student debt in less than seven years.
The Mobergs try to give away 10 percent of their combined income to their church, Calvary Lutheran, their alma maters (St. Olaf College and Hamline University) and other philanthropic causes. They save another 10 percent. When they receive monetary gifts, the cash goes first toward paying off a home-equity line of credit.
Between active volunteer schedules through their church and other leadership positions (Josh is the president of the Central Minneapolis Chapter of Thrivent Financial), the Mobergs read finance literature, including Thrivent magazine and Money magazine.
So what kind of advice does this savvy couple dish out? Know your own money, communicate with your partner, recruit a winning team of Thrivent Financial representatives and stick to proven investments.
“We enjoy that our finances are something that we do together,” says Joani, “and that we are intentional about having them mirror our faith and stewardship values.”
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