Faith And Finances

So you've got a budget… very cool! I get a fuzzy feeling when my budget is written and my wife and I agree upon it. However, I get a sick feeling a month later when I learn that we did not stay within our budget. Going over budget in one or more areas creates a shortage in others. In other words, something is not getting paid.   In This Episode, We Look At: Choosing a preferred method to write and track your budget. If you have not yet developed a budget, we invite you to listen to Episode 14, "A Biblical Approach to Money Management." A budget should be mutually agreed upon (spouses) and flexible. Pay the big bills via auto-pay, assuring they get paid, and on time. Mortgage, Auto loan, and Health Insurance are some examples. Decide which budget items can be paid with cash, eliminating the chance of over-spending; if the grocery budget this week is $200 bring only $200 in cash and resist using your debit or credit card. Schedule a regular interval for sitting down and reviewing your progress (wee

What does Retirement look like today? Are we stressing to have everything ready by age 65?   In This Episode, We Look At: While we do not find retirement in the New Testament (the Levities in the OT were required to retire at age 50), there are certainly principles that help us with that issue today. The importance of preserving your ability to earn an income today, and today. We look at the value of your unique experiences and skill sets. The possibility of continuing the work you enjoy and not retiring. Transitions into other fields vs retiring, including entrepreneurial pursuits. Mini retirements. Yep, taking a month or more off as a sabbatical— getting a taste of retirement, then back to work you enjoy.   Improve Your Faith and Finances: Continue the discipline of saving and investing for your financial future, strive to the best at what you do, and seek to learn a new skill, or improve existing skills.   Share Your Thoughts: If you have a question or comment about today's topic, we invit

How do offerings fit into the Christian's life? Is there a command?   In This Episode, We Look At: Giving demonstrates Christ's lordship in our lives. Giving doesn't empty me of resources, it transfers my resources from earth to heaven. Christians give generously, God does not exist for me, I exist for Him. "God's money has a higher purpose than my affluence" - Randy Alcorn Christians Give regularly. 1 Cor 16:2 Upon the first day of the week let every one of you lay by him in store, as God hath prospered him, that there be no gatherings when I come. Voluntarily 2 Cor 9:7 Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver. Barnabas voluntarily gave the proceeds of the land he sold to meet a unique and great need. Acts 4:36 Sacrificially 2 Cor. 8:2-3 How that in a great trial of affliction the abundance of their joy and their deep poverty abounded unto the riches of their liberality. 3For to their power, I bear record, yea, and

'Tis the season for resolutions and goals.   I love goals. Resolutions? Not so much. Why? The Average Joe (or Josephine) excitedly set out on his/her resolutions and then abandons them after about 2 1/2 weeks (on average)     In This Episode, We Look At: The lack of accountability is a major contributor to abandoned resolutions   I am a proponent of moving forward, improving various areas of our lives, which are generally defined in Annual measurements — and I believe that is where the problem lies.   A 365 Day goal can seem overwhelming on Day three for example, or especially after a set back and we're starting all over— with only 362 days to go!   A 13 Week Goal seems to be more effective.   Taken one week at a time Focusing on one day at a time.   [In Episode 17, we covered Habits]   It is One-quarter of year.   Choose a measurable goal that you would like to accomplish in a shorter period of time:   Weight loss? Can do!   Improve strength? Can do!   Write that Book? Can do!   Lower cholesterol? Yep!  

There has certainly been an evolution of how we conduct commerce. It appears the majority of financial transactions today are paperless—just numbers transferring dollars. But how do we answer the question, "Should we invest in BitCoin?"   In This Episode, We Look At: Speculating versus prudent investing Biblical wisdom to consider before rolling the dice with Bitcoin. “Hot investments” of the recent past and the fallout that followed. When anything is increasing in value at rates that seem mathematically impossible, it's time to be skeptical. When you hear enthusiasts proclaim "This time is different, new paradigm, new technology that never existed before." put your boots on. –Ric Cochran   Improve Your Faith and Finances: Breathe. Do your due diligence—do not invest in something because “everybody is doing it.” Ask yourself, “Will God be honored in this?”   Share Your Thoughts: If you have a question or comment about today's topic, we invite you to share your thoughts. Podcast on Facebook T

We must admit that It's a Wonderful Life is a must-see family favorite for the Christmas season. In today's episode we decide to have fun in  picking out the many financial lessons that can be gleaned from this 1946 award-winning classic.   In This Episode, We Look At: The main character's family business The compassionate capitalism demonstrated by the family business The Scrooge archetype—Mr. Potter What does insolvency mean for a bank? What is a "run on the banks"? How much have things changed 71 years later? Why don't banks hold onto our money? Where does it go? Our lives are worth more than $8,000 (You'll have to watch the movie to understand the reference).   Resources and Links: It's A Wonderful Life, DVD through Amazon It's A Wonderful Life, HD Digital Copy through Amazon   Share Your Thoughts: If you have a question or comment about today's topic, we invite you to share your thoughts. Podcast on Facebook Tim Blog Tim Twitter Troy Twitter

Long after the toys and gifts are broken or forgotten, our families will remember the Christmas experience.   In This Episode, We Look At: Several ideas to create a memorable Christmas season including: Go to church: What better place to be on Christmas Eve than in the house of the Lord, celebrating the birth of our Savior? Involve your children in bringing a gift to Jesus—whatever is on their heart. Matthew 2:11 And when they were come into the house, they saw the young child with Mary his mother, and fell down, and worshipped him: and when they had opened their treasures, they presented unto him gifts; gold, and frankincense, and myrrh. At home: The Tone: Dads, you are the example of Christ in your family. Are you "prayed up?" It's so easy for us to get in the flesh with pressure and planning. The Enemy does not want Christ honored… Put Christ first: One danger of being saved a long time and having many Christmases under your belt is losing just how special and precious the Christmas story is t

TV shows like "American Greed" draw us in with curiosity and then feed our focus on other people's greed. "It's someone else's struggle or sin, not mine." It's funny how easily we can measure how much is too much for others, but can't seem to find that "too much" point for ourselves. Proverbs 20:6 Most men will proclaim every one his own goodness. Research conducted by Pew Research found that 57% of those Americans surveyed believed that Americans are greedy.   In This Episode, We Look At: "Those Greedy Christians!" Sadly, the evidence revels that the more money Christians make, the less they tend to give. Evangelical Christians give 4 percent of their income on average. That average drops to 2.43% we include all those who identify as Christ-followers in the United States. What happened to all of the wishful promises of, "When I make more money, I'll give more!" or the more common, "When I win the Lottery–I'll be a BIG GIVER!" Taking Inventory—Identifying Greed in our lives Comparison: the self-inflicted p

What is success? Searching that on Google brings up 949 million hits making it a pretty popular subject! The World is very preoccupied with success. But how is success measured? Have you ever felt the pressure of not "arriving" yet? Or, perhaps you are not in the career that could be paying you the most? "What if I was meant to be in marketing instead of working for UPS?" Let's be real, that kind of pressure can be debilitating—if we let it.   In This Episode, We Look At: The Drive to Excel There is nothing wrong with having a drive to excel. As a matter of fact, we are taught in Scripture that we are to do all things with excellence as to the LORD! That's the key! What is behind your drive to succeed? Col. 3:23 And whatsoever ye do, do it heartily, as to the Lord, and not unto men Be careful in your source of motivation: “Motivational Speakers and Thought Leaders often place the emphasis on SELF” Romans 12:3 For I say, through the grace given unto me, to every man that is among you, not to think of himsel

Today we decided to provide a financial quiz. We'll ask the questions, give you some time to choose your answer, then we'll discuss what we believe the answers to be. Give yourself $5 for every question you answer correctly (Put it in savings—you'll be glad you did!)   In This Episode, We Look At: Your current income doubles by the year 2032 and the prices of goods and services doubles as well, how much will your 2032 income allow you to buy? A. Less than today B. Don’t know C. More than today D. The same amount as today   If you maintain a comfortable lifestyle with your current income today and do not receive any increase in earnings over the next ten years, you should be able to maintain the same lifestyle.  A. True  B. False   If your checking account has a balance of $300 and the bank posts a "Debit" of $50, will your balance change to: A. $350 B. No change C. $250   Your gross earnings for the current pay period are $2,100. Your paycheck (or direct deposit) was $1,612. How much were your earni

Let's face it, we are human and we want all of God's promises. "Take care of all my needs and wants, protect me and my family, advance my career…" Some may think, “I’m a child of the King—so I should be living like a king!” 1 Corinthians 4:8 Now ye are full, now ye are rich, ye have reigned as kings without us: and I would to God ye did reign, that we also might reign with you. Paul Chappell recently wrote: The idea that a Christian will only receive good things from God and coast through life on a bed of blessings sounds good and draws large crowds and television audiences. But it is not the reality of life presented in Scripture. David—hunted by Saul—no wrong doing Paul—numerous physical afflictions and sometimes fear God's children are very precious to Him and it brings Him pleasure to work in and through our lives!   In This Episode, We Look At: Our Lives are not meant to be Passive "God will do this for me" "He will take care of that" Make no mistake, God does everything He says He will do. It is His

There is a lot of talk on the subject of renting vs buying. While counselling and advising couples, I often hear them say something like, "We can't wait to get a house. We are just throwing money away renting a place!" and "Besides, a home purchase is an investment." Is this true?   In This Episode, We Look At: "Is your home an investment?" Definition (Investopedia): investment A)An investment is an asset or item that is purchased with the hope that it will generate income or will appreciate in the future. B)In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. We look at the costs associated with purchasing and maintaining a home, a brief look at 15 year versus 30 year mortgages, and the importance of financial margin.   Improve Your Faith and Finances: It is wise to save and invest for your financial future beyond the payment of your primary residence.   Share Your Thoughts: If you have a question or comment about today's top

Little regrets can happen daily. For many of us, regrets are realized years or even decades later in life. We may wish that we had spent more time with family, taken better care of our health, and saved more money. For the child of God there will be a day when we stand before Him, and no doubt have many regrets about our stewardship of this life: "I should have shared the Gospel with my family and neighbors!" "I wasted so much precious time on things that are meaningless now!" There is a tendency in older people to be mindful of their own mortality and then start focusing on making the most of their life. Don't wait until you are older to start living for what really matters.   In This Episode, We Look At: The Key In his later reflective years, King Solomon gives us the key to living a life without regrets. The key is the phrase, “under the sun.” Used 29 times in the book of Ecclesiastes, Solomon concludes that if a person’s desires and motives are focused on this present life on earth (which is

In This Episode, We Look At: A Mortgage is not Consumer debt weighing on your shoulders. No one is going to offer to buy your credit card debt A mortgage should not be viewed as a sin, citing Romans 13:8 "Owe no man any thing". The Bible warns about being/staying in debt and encourages prompt repayment. If borrowing were a sin and not simply frowned upon, then we would be enablers to others' sin because the Bible encourages us to be liberal in lending and ready to forgive! Deut. 28:12, Psalm 37:21,26 You can sell your home, and the mortgage balance is taken on by the buyer (and you may pocket some equity in the proceeds). It is leverage; you can live in that home as long as you make the payments. It is the cost of living in your chosen home. Long-term Buying a home with a mortgage is not a short-term purchase. There is more risk of loss in the short-term due to fluctuating values. Your primary residence is NOT an investment It is a cost. It is collateral. Cosigning for a loan. Nope! A credit score

How often do we resign, throw up our hands, and say, "I can't fix my marriage", "I can't get on top of my finances", or "I can't quit lusting"? It seems our first response is "I." "I can't"…and that is true. We cannot do anything good on our own. (Romans 7:18) I submit that our focus is way off and the Devil loves it. He constantly reminds us of our failures, sin, mistakes, and incompetence. He is wrong. In This Episode, We Look At: The Power within us How often do we overlook the fact that the Holy Spirit actually dwells within us? How incredible and indescribably powerful is that? 2 Cor. 4:7 But we have this treasure in earthen vessels, that the excellency of the power may be of God, and not of us. You see, it is not our power, but His! 2 Peter 1:4 Whereby are given unto us exceeding great and precious promises: that by these ye might be partakers of the divine nature, having escaped the corruption that is in the world through lust. Whether they be financial, relational, or carnal, remember who you are in C

Family communication has its challenges today. A good old fashioned, face-to-face conversation has been reduced to a text message; with abbreviated words to boot, lol! And there are topics that require our focus and clear communication but many prefer to avoid them—like money. Perhaps we can blame it on Emily Post's book of Etiquette (1922), which lambasted talk of money. It seems generations of parents for almost 100 years have carried on her view of money-talk as taboo.   In This Episode, We Look At: Communication about money According to an Ally Bank survey, 7 out of 10 people consider it rude to talk about money. It does seem that millennials are breaking the trend; "more than half readily disclose their income, savings, or debts to other people, Ally found." This is one area that I am "with the Millennials". Plan your talks 45% said they would rather plan a dinner discussion for the topic of money rather than talk on the fly. During a drive When writing a tithe check, offering, or giving on

It is easy for us to find ourselves buying into the ever-increasing consumerism of our culture. "I need this, this, this… and this…" Consumerism: NOUN the protection or promotion of the interests of consumers. the preoccupation of society with the acquisition of consumer goods. Proverbs 27:20 Hell and destruction are never full; so the eyes of men are never satisfied Madison Ave knows this and they fully exploit it.   In This Episode, We Look At: A Subtle Creep Consumerism can be very subtle: Think of all the areas in our lives where we have to "upgrade"—cell phones, online subscriptions, streaming services, food delivery services. Our monthly expenses slowly creep up (Because "it's just another $20/month" right?) and we find ourselves saying "I can't afford…" According to Creditloan.com, the average family spends $2,827 per year on entertainment which includes: fees/admissions, toys/hobbies, and audio visual services/equipment. That's about $235 per month. That isn't terrible unless you ar

Today we take a close look at the parable Jesus taught in Luke 12:13-21, what prompted Him to teach it, and how it relates to us.   In This Episode, We Look At: Setting: Jesus is speaking to a large crowd (innumerable) As He had been addressing Lawyers and Pharisees (warning them of their hypocrisy), one in the crowd interrupts Jesus to ask Him to make his brother split their inheritance. Jesus responds, and said unto him "Man, who made me judge or a divider over you?" He warns us of covetousness: That's the lust for something we do not have or longing for more (God also equates covetousness with idolatry Col. 3:5). And he said unto them "Take heed, and beware of covetousness: for a man's life consisteth not in the abundance of the things which he possesseth." vs 15 "And he spake a parable unto them, saying, The ground of a certain rich man brought forth plentifully:  We are introduced to a "business man" who was successful as evidenced by the word "rich". There is nothing inherently wrong with be

It's amazing how money can often make monsters out of us. If you've ever borrowed from, or loaned money to others, you may have experienced how the relationship between lender and borrower can become strained.   In This Episode, We Look At: Non re-payment of a debt can lead to the severing of relationships Jesus teaches that when we lend, do not expect re-payment. Luke 6:34-35 And if ye lend to them of whom ye hope to receive, what thank have ye? for sinners also lend to sinners, to receive as much again. But love ye your enemies, and do good, and lend, hoping for nothing again; and your reward shall be great, and ye shall be the children of the Highest: for he is kind unto the unthankful and to the evil. The person who borrows is expected to repay Psalms 37:21 The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth. Non-forgiveness can hinder your walk with Christ Matthew 11:25 And when ye stand praying, forgive, if ye have ought against any: that your Father a

A popular little book has the title, "Don't Sweat the Small Stuff!" While there is certainly truth to that—don't make a mountain out of mole hill, don't major in the minors… we also challenge you not to miss the little things that can change lives!   In This Episode, We Look At: The Tongue James 3:5 Even so the tongue is a little member, and boasteth great things. Behold, how great a matter a little fire kindleth! What a difference a kind word can make in someone else's life! How often are we preoccupied with our own cares and easily miss the opportunity to simply say a kind word. Proverbs 25:11 A word fitly spoken is like apples of gold in pictures of silver Time James Boswell, the famous biographer of Samuel Johnson, often referred to a special day in his childhood when his father took him fishing. The day was fixed in his adult mind, and he often reflected upon many of the things his father had taught him in the course of their fishing experiences together.  It occurred to someone much later