Benjamin Franklin said, “Beware of little expenses; a small leak will sink a great ship.”
Does this describe your finances?
More often than not, budgets are wrecked or debt is accumulated by little things. Sure, those big surprise expenses also strain our finances, but we can probably credit smaller, sneaky expenses for doing the real damage.
Here are the most common financial leaks and how to prevent them.
Americans spend a lot of money on food – over $3,000 every year just to eat out! With the addition of the cost of groceries, we spend well over $6,000 on food every year, totaling about 12% of our overall budgets.
Part of the reason we spend so much money on food is that it’s one of the most socially-influenced expenses.
We’ve probably all been in this difficult position: our friends are making plans to go out to eat, we’ve already maxed out our eating-out budget for the month, and now we have to decide if we will overspend or miss out on the fun.
Or perhaps you find yourself in the grocery store about every other day, desperately trying to find something to keep all your growing kids full for more than an hour. Inevitably, more snacks end up in the cart than you planned on, but to save face and try to keep your family fed, you don’t put anything back, hoping that it’ll all work out at the end of the month.
Maybe you overspend on food because you don’t know how to cook, forget to pack your lunch, or order-in food after another exhausting day of work. Whatever scenario you find yourself in, don’t let food be the biggest leak in your financial ship.
Planning is the best way to plug the “leak” in your budget when it comes to food. Make a schedule of meals for the week, do your grocery shopping all at once, and meal prep. Eating healthy doesn’t have to be expensive, and planning your meals will absolutely save you money (and probably time, too)!
If you have groceries in the fridge or a meal already prepped, it’s easier to say “no” to eating out with friends or running by a drive-thru on your way home from soccer practice. It provides ease of bringing your lunch to work or coming up with snacks to keep hungry kids fed. And throwing a prepared, healthy dinner in the oven after a long day of work is a breeze if you’ve planned ahead.
Instead of going out with friends, invite them over. A big pot of soup is inviting and inexpensive. Make extras, and save any leftovers for lunch throughout the week.
If you don’t know how to cook, now is the time to learn! Instead of allowing your schedule, friends, or convenience, to dictate your budget, plan ahead. If you’ve never cooked before, now is a great time to learn! There is a copious amount of free information and how-to videos on the Internet to help you learn. Start by making simple meals with simple ingredients.
How much do you think it costs the average family of 4 to attend an NFL game? If you guessed $500, you’re right! That includes four tickets, small beverages, hot dogs, parking and two cheap hats.
Attending a National Hockey League or NBA game costs somewhere around $300’s, and a Major League Baseball game came in at just over $200.
In fact, a new study conducted by CreditCards.com reveals that over the past year, Americans spent $56 billion on sporting events, $33 billion on sports equipment, and $19 billion on gym memberships; totaling $100 billion total on sports alone.
Aside from sporting expenses, Americans love to spend money on entertainment. On average, we pay $100 a month on cable and will spend just under $3,000 on various forms of entertainment throughout the year. This includes concerts, movie tickets, technology, and other events or activities. We are obsessed!
Of course, there is nothing wrong with enjoying an NFL game with your friends or family, but maybe forgo the 50-yard line tickets, and eat before the game.
Think simple. Be intentional with your family and spend your time wisely. Learn new skills (like cooking!) together, and don’t get caught up in the pressures of knowing the latest TV drama series. Read books, play board games, and enjoy nature. Rethink what a necessity actually is, and save yourself some money but cutting out extra expenses like cable or your fantasy football league.
Transportation takes up a surprising amount of money in your budget – about $8,500 a year, or 17% of your overall expenses.
This number includes a downpayment on your car, monthly payments towards a car loan, gas, maintenance, and repair fees. Depending on where you live, these costs may instead consist of public transportation tickets, parking garage fees, or Uber/cab rides.
Take care of your car! Schedule routine maintenance, keep your tank half full at all times, and use the right kind of gas.
Try to plan your trips when you run errands to save on gas. Moms of school-aged children know the pains of driving a total of 3+ hours a day. Coordinate with other parents to carpool to sports or activities, and share some of the burden.
The best thing you can do to find and plug your “financial leaks” is to track your expenses. According to a Gallup poll, only 1 in 3 Americans does this!
You need to create a budget to know where your money is going and what your spending habits are like. Crown has an easy-to-use guide that makes budgeting simple. Download it for free here!
Have you experienced these financial leaks before? Share your thoughts with us on our Facebook page!
Planning is biblical.
In Proverbs God says that someone who plans well will foresee dangers and avoid them, but the foolish person (a non-planner) will rush ahead, do whatever’s convenient, and end up paying the penalty.
Just as we can’t build a home without blueprints, we can’t have solid financial structure without plans. Being a good and faithful steward means being able to live on a budget – a short-term plan. And then we are to look forward to see eventual needs and try to meet them – a long-term plan.
One of the most noble characteristics of an ant is the way they plan for the future by storing food in good times for use when times are bad. It’s an example we can all follow as well.
The Proverbs 31 woman is an example of someone whose planning is key to good stewardship. We’re told she worked hard, she spent wisely, and she planned ahead.
But God’s word advises us to be planners for reasons beyond building a savings account or avoiding indulgence. When we plan, we experience more margin and freedom in our lives – which means we are freed to further God’s work here on earth.
When you plan ahead, there is money left to give generously.
Today we often feel we can’t give because we have not been faithful stewards in planning, working or spending.Yet, we know that Jesus’ words – that “It is more blessed to give than to receive.”
Good stewards work as unto the Lord.
Good stewards analyze the budget to make sure the needs of the family are covered. They look ahead to anticipate future expenses. Things like new tires, car repairs, appliance replacements, insurance costs for teen drivers, and diapers should be accounted for.
Good stewards decide what to buy every month based on yearly sale trends. They plan ahead for those purchases to get the best deals in order to spend wisely.
Good stewards save and invest by researching and seeking wise counsel.
And, after all that planning, good stewards are able to give generously.
Planning takes time, but it’s a necessary ingredient to successful living. We plan our grocery lists, our vacations, and our kids’ sports schedules….so why not our finances too?
And, I have good news!! There is a guide that can help you accomplish this. Crown’s Money Map is a simple and easy-to-use guide that can help you set and reach financial goals that line up with Scripture. And it doesn’t matter where you’re starting. The Money Map can help you build an emergency savings plan or retirement account.
Making a career change is challenging at any age, but it can seem especially daunting if you’re decades into a particular path and have a family depending on you. Rather than feel excited about the prospect of starting a new career, many people feel trapped and hopeless.
When you’re unhappy in your current job but don’t see a way out, every day starts to feel like Groundhog Day — the same routine over and over again, with no end in sight. People often defer career changes because they don’t think they have the money or the time. Not only are they the primary earners in their families, but their schedules are filled with work projects and personal obligations. They can’t fathom how they could possibly prepare to make a career change at 40 (or later), which typically requires at least some new skills training, without bankrupting their families and burning professional bridges.
But as the old saying goes, where there’s a will, there’s a way. I know a guy who became a lawyer in his 40s. He started law school at 42 while working a full-time job and supporting his family. Then there’s the stay-at-home mom who became a nurse while caring for her husband and children. I’m not saying it’s not tough. But if you really want to change careers, you can — and you will.
People tell themselves two lies about why they can’t change careers: “I don’t have the money,” and “I don’t have the time.”
Let me start by saying that concerns about money are valid. Whether you’re the sole breadwinner in your family or you’re worried about saving for retirement, it’s important to consider the financial impact of pursuing a new field. However, there are ways to make changes without sacrificing your family’s security.
Thanks to the internet, it’s now incredibly easy to access free and low-cost educational resources. Massive open online courses (MOOCs) such as those offered by edX and Coursera provide access to Ivy League-level classes and certification programs. YouTube has a limitless supply of content on just about any topic you can imagine, so you can at least begin your new career training there.
Depending on what field you want to enter, you may need to join a degree program. But even then, there are loan programs, scholarships, and assistantships that can help alleviate the cost burden.
Now let’s talk about time constraints. Again, I’m not denying that this is a real concern. However, most of us have more time than we realize. Think about what you do when you come home from work. When 5 p.m. hits, where are you? Are you reading voraciously about your new field of interest? Or are you relaxing in front of the TV?
I know TV can seem like a respite after a long day, and relaxing is crucial. We need to recharge our batteries. But if you cut back your Netflix time by an hour or two each night, just think about what else you could accomplish. That might be enough time to keep up with an online university course or start building a freelance business from home. Generating income from a side business could buy you the time and financial breathing room you need to go all in on your new career.
Gary Vaynerchuk, popular business speaker and CEO of VaynerMedia, put it best when he said, “There’s no right time to hustle.” If you really want something, you have to make time for it.
I learned this from my friend Todd Williams, a two-time Olympic runner. After retiring from professional sports, Todd found himself working a dead-end sales job for a shoe company. At the end of each workday, Todd’s colleagues went to a local bar for happy hour to decompress before heading home, going to sleep, and getting up to do the same thing again.
Todd, on the other hand, headed to the local Brazilian jiu jitsu gym, where he worked his way up to becoming a black belt. Eventually, Todd combined his love of jiu jitsu and his sales knowledge and created his own company. He had a new lease on life when he left the shoe company and set out on his own. But that change didn’t happen overnight. He built up to it by working his sales job during the day and cultivating his passion during his free time.
Todd’s story reminded me of something a mentor once told me. He said, “Bob, you’re going to make your living from 9 to 5. You’re going to make your fortune after 5 p.m.” That advice stayed with me: Get a good, stable job to provide for your needs. Let that stability fuel your passion when you’re off the clock.
It’s also helpful to identify the worst-case scenario. Another friend of mine is a prominent real estate CEO in Atlanta, and he’s always been a risk-taker. Once, when he was discussing how he leverages his business and assets, some of his peers balked at his appetite for uncertainty. “If the economy turns, you could lose everything!” they exclaimed.
But he was unfazed. “That’s just how I’m wired,” he said. “I swing for the fences. We live in the greatest country in the world, and I know that if I lose everything, I can rebuild. I’ll find a job making $40,000, $50,000, and I’ll be able to put food on the table. I might not be driving a Maserati, but I won’t go homeless or hungry. So I have no fear.”
When we think through the worst-case scenario, we often realize that even the worst case doesn’t spell total disaster. And if we’ve prayed about our decision and feel that a career change aligns with God’s plan for us, we can be even more confident in our ability to weather the challenges that lie ahead.
There are many factors that can influence a career change. You might be so fed up with your current job that you’ve reached the point of hopelessness and desperately need to do something different. But maybe you like your job. You earn good money and enjoy positive relationships with your coworkers. Yet you have the nagging sense that you should be doing more.
I encourage you to follow that instinct. People often suppress the desire for a career change because they’re comfortable and complacent. They may not feel deeply fulfilled by their work, but they get along. They’re not miserable. So they figure they’ll just keep going as they are.
These people might think, “How am I going to change careers at 40 with no degree?” or “How would I ever get back to this salary level if I changed careers now?”
Comfortable mediocrity seems preferable to economic uncertainty.
In other cases, people desire change but don’t know what that change should look like. They know they’re unhappy in their current positions. But they’re unsure what to do next. If you fall into this category, I encourage you to take our Career Direct Assessment. Those will help you identify your core skills and determine what your next step should be.
It’s OK to not know what you want to do. Staying complacent is the problem.
When we’re comfortable in a job, it’s easy to assume that we can continue doing it indefinitely. But as many people learned in the Great Recession, economic disruption is always a heartbeat away. I knew many friends and colleagues whose comfortable lives were up-ended because they were totally unprepared for a downturn. Their experiences taught me to always be prepared for a five-alarm fire. Our jobs are not guaranteed, and we should be prepared to pivot at any moment.
A recession isn’t the only thing that can disrupt our work lives, however. The rapid pace of technological change demands that we all be learning new skills all the time. The fact you earned your degree 20 years ago doesn’t guarantee you a job forever.
If you’re too comfortable or complacent and you’re mulling a career change, trust that impulse. You may find that you can carve out a new career for yourself at your current company, thereby enjoying all the perks of your long tenure while staying agile and competitive. Or you may need to go back to school and start an entirely new degree program.
Whatever you do, avoid complacency. We can and should strive for contentment in our work, but the two are not synonymous. Be grateful for the gifts God has given you, and take joy in the life He’s helped you build. Honor those gifts by continuing to stretch your boundaries and challenge yourself professionally.
Making a career change is difficult. But it’s worth it. That’s why athletes vie so hard for the gold medal. They’re not interested in a plastic participation trophy; they want to feel the weight of solid gold hanging around their necks. That’s how they know they’ve gone above and beyond to be the best in their fields.
Find out what your gold medal is and chase it wholeheartedly.
You may have to grind away at your day job a little bit longer, and you may need to give up your free time at night. But if God inspired you to change jobs, it’s for a reason. And you do right by Him and yourself when you sacrifice comfort and complacency for a new kind of glory.
Did you know that roughly 43% of the entire adult American population has a car loan? That’s about 107 million people. What’s even more shocking is that 6 million of those people are 90 or more days late on their car payments.
They’re essentially taking out loans for an item they can’t afford, but still can’t afford to make payments on their loans. This creates a cycle of debt, stress, and bondage.
I have had my same car for over 15 years. I bought it used and have kept it in pristine condition with routine maintenance and it has never once caused an issue. It’s also retained its value and I plan to drive it as long as I can.
If you’re looking to buy a car, check out this article. And if you’re looking to keep your car in tip-top shape for years to come, I have some advice for you.
Whether or not we like it, a car depreciates the second you drive it off the lot, and should be considered on par with buying an appliance. It would seem silly to finance the fanciest, fastest blender on the shelf…because it’s just a blender. When you’re car shopping, keep the same mentality.
An inexpensive, possibly out of style, used car that gets you where you need to go will probably be the wisest option. If you save money by purchasing a reliable eye-sore, instead of a sports car, you can later upgrade to a better car when you have the cash on hand.
Many Americans accumulate debt because they buy cars based on the monthly payment instead of the overall price. Avoid extra interest charges by not financing, and consider the costs of maintenance, repairs, etc. A great deal on a Land Rover may be met by astronomical repair costs down the road (literally). Do your research before purchasing any car.
This helps for a variety of reasons, but keeping your tank half full will preserve the quality of your tank and engine for years to come. And will keep you from ever being stranded!
An estimated $2.1 billion is wasted every year on filling up with the wrong kind of gas. Only certain engines are designed for premium gas, so check your manual and save at the pump.
Small costs every year will save you thousands in the long run, and help your car last longer. All the cars in my family are subject to routine maintenance and have held their value and functionality extremely well.
Some of these things may seem small, but they’re all part of faithful stewardship. Being diligent to keep all we have in good condition reflects our gratitude. And if you are struggling with credit card debt, get in touch with Christian Credit Counselors. They can help you put together a plan to pay off your credit cards the right way!
In today’s rapidly changing environment, it has becoming increasingly important to stay competitive by adding value to your company. Since a greater percentage of the workforce have college degrees, higher education has become less of an option and more of a necessity for many fields.
A major paradigm shift in the workplace is that employers no longer value employees for their longevity at a company but instead value them for their current contribution. Employers want to see your “breadth” and innovation instead of looking for your loyalty and “depth” with them.
This increase in demand for Bachelor’s and Master’s degrees has come at a hefty cost to Americans – the average student graduates with upwards of $37,000 in student loans. But in 2015, America reached the largest salary gap between college-educated employees and non-college educated employees. On average, college graduates earned 56% more than high school graduates.
I am a firm believer that you can go back to school without accumulating any student loan debt. You just need to plan ahead. Here’s how to get started.
Before you enroll, weigh the costs of going back to school. What will tuition, books, commute, and fees cost you? Do you need to invest in a laptop or other software/technology? Will it take time away from your family? How long do you plan on it taking – 2 years, 4 years, or more?
Once you have calculated the costs of returning to school, do some research to get an accurate picture of your “return on investment”. Don’t invest tens of thousands of dollars and countless hours of your time to further your education if it’s not going to make you more money or get you ahead in your career.
There are some fields that will reward you for returning to school, and some fields that require a certain level of education. (An example would be a doctor, who would be required to go through medical school in order to qualify for the position.) In these fields, the compensation should match the investment of resources it took to become qualified. (Ex: Doctors make more money than nurses because their position required further education.) If your field of work does not fit this description, then you may not benefit from returning to school.
You should also be extremely wise in the field you choose to further your study. There are some up-and-coming, “trending” careers that will pay more than other jobs. Select a degree that will hold its value and demand. This will help ensure your chances of being hired and at a competitive salary.
You should also choose a degree that will fit your God-given design and personality best. You’ll save both time and money by studying something that aligns with your purpose and passion. Crown’s Career Direct assessment can help you discover your unique purpose and what career path or course of study fits best.
If you have weighed the costs and decided that returning to school is the most advantageous move for you, then you need to start saving!
You should have the costs already calculated. Now set that as a savings goal so you can completely avoid debt. This will take patience and diligence, but it can be done. Find joy in cutting down on all expenses and saving every dollar you can. Remember that all the time you invest to save now will yield you a great reward in the future.
Consider saving into a 529 account. You can invest money in this account and any earnings you withdraw to pay for your higher education costs are tax exempt.
If you’re looking at earning your Bachelor’s degree, there are a number of ways to expedite the process and save on costs.
Apply for grants, scholarships, and fellowships. Do some research and look for any money-saving opportunities by applying for grants, scholarships, or fellowships. Depending on your age, you may qualify for discounted or even free tuition!
Enroll in MOOCS (Massively Open Online Courses). These courses are gaining serious popularity because you can go through an entire class or specialization from some of the top universities around the world. Websites like EdX and Coursera offer outstanding courses at a variety of costs.
Check with your employer. Employers can offer tax-free education assistance, so it’s worth asking about. However, keep in mind that you may be required to earn a certain grade or stay with the company a certain amount of time if they offer financial assistance.
Fast track. The faster you can complete your course, the more money you can save. There are many fast-track programs offered at various universities for Bachelor’s and Master’s degrees.
Stay disciplined. Changing majors or stopping in the middle of your education can cost you tens of thousands of dollars. Once you have decided to go back to school, created your plan, and saved adequately, stay the course.
I hope this helps you make a wise and informed decision about furthering your education! How have you saved money on college costs? Share your ideas with us!
Have you ever thought about what causes debt?
Most people who have accumulated debt didn’t do so on purpose. It’s usually because of a series of small mistakes, one huge accident, or an assumption that “this is just the way it’s done”.
But underneath all those causes are deeper, hidden problems. Paying off debt or getting on a budget are good things that should be part of every Christian’s financial plan. But changing behavior will only get you so far. Changing your beliefs is what will bring you true financial freedom.
These 5 things are the most common underlying causes of debt.
This mentality is usually most evident in investment schemes. Christians find themselves trapped in these schemes before they even realize what’s happening.
Often what makes matters worse is that these scams allow you to invest borrowed money. If we could only invest cash, maybe we would be more careful! This is when the debt accumulates quickly.
The Bible warns against surety, which is what happens when someone invests borrowed money – they have no way to cover it in the event of a loss and are speculating on the future outcomes. No one can accurately predict what the country’s financial markets will look like in the next hour, let alone the next year.
Investing is a biblical principle, but borrowing money to do so, or because of a motivation to get rich fast, is not.
For those of you who are married, you have a God-given financial advisor in your spouse. Even if your spouse doesn’t have a background in finance, or is the “spender” of the relationship, they’re still you’re most trusted financial advisor.
Husbands are to listen to their wives and wives are to submit to their husbands. But there must be clear and respectful communication between the two. Debt can be accumulated and get out of control when the communication is broken.
Secret loans, hidden spending habits, private bank accounts, or just a lack of communication can all divide a couple’s hearts and finances. Listen to your spouse. Be open, honest, and vulnerable with your spouse. And go to the Lord in prayer together.
Nearly every family in America dreams of owning their own home. However, many times they try to buy a home too soon after getting married and end up paying too much for their first home, which leads to financial stress and ongoing debt.
Being “house poor”, or owning a more expensive house than you can truly afford is becoming a more common source of financial stress. When you’re buying a house, remember that your mortgage payment, taxes, insurance, utilities, maintenance, and repairs combined should total about 38% of your income. Following that general guideline will help you live below your means and avoid more debt.
What happens most often is that people look at the monthly payments for a car instead of the overall price. A price tag of $300/month seems much more feasible than a lump sum of $48,000. The problem with this, as with most debt, of course, is interest. Making monthly payments on your car means that you will end up paying significantly more than the original price, and spend years burdened by the debt.
Unlike a house, a car depreciates in value the second you drive it off the lot. So don’t finance something that you’re ultimately losing money on. Be patient and disciplined to save, and buy a reliable, used car for an affordable price.
We’ve all had those inconvenient, surprise expenses come up out of nowhere. The way you respond to such a surprise expense all depends on whether or not you are prepared. Those who aren’t prepared have to rely on credit cards to pay for the repairs or expenses. Those who have planned ahead and saved, however, just access their emergency savings account to cover the expenses.
Decide today to plan for the unexpected and start saving for whatever comes up. If you can save $10, you can save $100, and you can save $1,000. But if you’re struggling with credit card debt, get in touch with Christian Credit Counselors to get on a debt management plan. They’ve been our trusted partners for years and can help you get out of debt the right way.
I remember the story a man shared with me years ago, about what he called God’s “answer to prayer”. While he was away on a trip, this man’s car had been seriously damaged in an airport parking lot. Unfortunately, the driver who did the damage didn’t leave a note, and the man whose car was hit didn’t have collision insurance. So he drove the damaged car around for several weeks.
Then one day, as he was sitting at a red light, he was rear-ended in a multiple-car collision. His car suffered minimal damage from this collision, but he decided to conveniently not mention the airport incident to the insurance companies. His car was repaired by the insurance company of the driver who rear-ended him. “What an answer from the Lord!” he exclaimed.
Here’s the problem. This “answer” from God is contrary to what His word actually says. “The LORD detests those whose hearts are perverse, but he delights in those whose ways are blameless” (Proverbs 11:20).
The story of this man’s “miracle” is not unusual – many people see these incidents as some kind of provision, and often feel justified in their misguided thinking because “those insurance companies are just ripping people off anyway”. To them, the company is just a company – impersonal and wealthy. They don’t think about the people within that company so it doesn’t feel like one person cheating another.
But as Christians, we know we are supposed to live and act differently than the rest of the world. We believe all our resources belong to God, not us. Therefore, the resources that are in the control of an insurance company are still God’s. Which means we are held accountable for how they are spent on us just as much as if the funds came out of our own savings account.
“The righteousness of the upright delivers them, but the unfaithful are trapped by evil desires.” (Proverbs 11:6)
The Bible never says, “You will never have to face unfair circumstances, and even if you do, I’ll make sure you don’t have to pay for them.” NO! It says, “I have told you these things, so that in me you may have peace. In this world you will have trouble. But take heart! I have overcome the world.” (John 16:33)
It also says, “The prudent see danger and take refuge, but the simple keep going and pay the penalty.” (Proverbs 27:12)
The Bible teaches provision, not protection.
God wants us to be responsible, but too often we use insurance to shift our responsibilities to someone else.
Which also means we often shift our trust away from God, and towards an insurance company.
Insurance can be used to provide where a potential loss would be excessive. It can help a family when a major illness or disability strikes. It can provide income in the loss of a spouse, pay medical bills, and help repair a damaged home.
When another’s loss must be considered, like with automobile liability coverage, insurance is vital. As Solomon said, “A prudent man sees evil and hides himself, the naïve proceed and pay the penalty.” (Proverbs 22:3)
A trustworthy independent insurance agent can help you make a wise decision. Remember the Bible tells us to seek wise counsel, so look for an agent who has your interests at heart, not their own. Get references from people you know well, then make sure the agent thoroughly defines the insurance plan in writing. Compare prices and remember, …”in an abundance of counselors there is victory.” (Proverbs 24:6)
Insurance is a way to responsibly provide for those you love. Plan well so that you can live simply and give generously. The first step is to enroll in Crown’s online MoneyLife Personal Finance study. You’ll learn how to live as a steward in every area of your finances, what the Bible says about insurance, and how to plan a lasting legacy.
Early in my career, a mentor told me, “You’ve got to look for the people who’ve got fruit on the tree.”
He was referring to Matthew 7:17, “Every good tree bears good fruit, but a bad tree bears bad fruit.”
My mentor believed that if a person was wealthy and successful, they must be an admirable person. After all, God had blessed them for a reason.
But that interpretation of success never felt quite right to me. By that metric, Bernie Madoff looked like an especially good person until his deceitfulness was revealed. In fact, most criminals appear quite successful and virtuous if we’re to assume that wealth is an indicator of God’s grace.
Of course, we know God doesn’t approve of lies, stealing, and the worship of material wealth. So financial achievement cannot be the Holy Grail of success.
But what about people who are both virtuous and outwardly successful? We all know someone who is at the top of their game professionally, enjoys a happy marriage and family life, and is an all-around great human being. Should we measure our success against what they have?
Well, no. A fulfilling home life and good character are obviously worth pursuing. However, material wealth will always be a poor standard for success.
It’s a mistake to conflate wealth and self-worth because wealth is fleeting. You can go back to zero at any time, as many people did during the Great Recession. I knew many people whose identities were tied to their big houses, their boats, their private planes, their vacation homes in Florida. When the crash hit and they lost everything, it felt like an existential threat to their survival.
If your identity is tied up in the stock market, you’re always just one stock correction away from losing yourself. That’s why we must always stay grounded in Christ. A Christ-centered character and relationship with the Lord are rock solid. They’re not going anywhere, regardless of how much money you have in the bank.
Whether you’re racing up the career ladder or stuck in a professional dead-end, don’t make your job or your possessions your identity. Fancy titles sound nice, but they’re fleeting. Do you think God will be more impressed with your executive nameplate or with the way you treated your work as worship and honored Him every day?
In our comparison-obsessed culture, it’s easy to become convinced that our material possessions reflect our value as human beings. When we see people share their major purchases or seemingly perfect lives on social media, we can’t help but feel less than them.
The Today Show surveyed 7,000 mothers about how using Pinterest affects their sense of self-worth. Forty-two percent said they felt inadequate as parents when looking at the perfectly baked loaves of homemade bread and the magazine-ready birthday spreads prominent on Pinterest. It’s not just moms who are vulnerable to this, either. Most people can’t keep up with what they see on social media, and their self-worth suffers because of it.
How many times have you opened Facebook and felt your heart sink as you scrolled through photos of a friend’s brand new home or watched the congratulatory comments roll in on someone’s new job announcement? If you’re unemployed or coping with a recent failure at your job, those posts can inspire feelings of despair, resentment, and worthlessness. But even if you’re happily employed, you may begin to wonder whether you should be buying a house or vying for a promotion, too.
None of us want to fall behind, so we constantly seek out the next opportunity, the next big purchase, the next material high. But the truth is, those pursuits do not bring lasting happiness.
The excitement of a promotion fades, and it’s only a matter of time before the stress of the job dampens the thrill of the new opportunity. A new house is nice to have, but it becomes just another dwelling over time. No matter how extravagant or lovely, a house still demands upkeep and work. And it won’t fulfill your desires for true happiness and spiritual fulfillment.
Harvard University’s landmark, nearly 80-year study on happiness revealed something that all Christians know at some level: material wealth doesn’t bring happiness. Nor does a storied, high-powered career. Happiness comes from good relationships with our spouses, children, parents, friends, and communities. And that happiness grows tenfold when we have a strong relationship with Jesus.
But we can’t have good relationships with the Lord or with our loved ones if we’re always chasing external desires. If money and status are at the forefront of your heart, where is the room for love, prayer, and discernment?
If you’ve been caught up in the material rat race, don’t despair. You can shift your gaze inward and upward, and find peace and fulfillment again. Here are a few steps to get started:
We come into this world with nothing, not even a shred of clothing on our backs. For the first 10 to 20 years of our lives, we have nothing to offer but ourselves — our character, our virtues, our flaws, our faithfulness. And our families and friends love us completely, just as we are.
But as we enter the professional realm, our perception of our self-worth changes. We worry that our jobs and houses and cars and handbags aren’t impressive enough. We impose man-made expectations on ourselves, such as “I need to have my MBA by 24,” or “I need to make partner at the firm by 35.”
There’s nothing wrong with being ambitious. God blessed us with unique gifts and talents, after all, and we honor Him by using them to the best of our abilities. When we work faithfully, He’s happy to see us advance in our professions, but not when we neglect our relationships and our spiritual lives for the sake of material achievements.
You can’t control whether you land that dream job or win that high-paying promotion. Sometimes businesses fail, and you find yourself unemployed through no fault of your own. Those things are out of your hands. But what you can control is how diligently you work and how you define success.
I like to tell people, “Don’t try to be successful. Be faithful.” Being faithful means trusting in the talents God gave you. It also means working to sharpen those skills every day through programs such as Crown’s Career Boost Formula and other professional development opportunities. Working hard is its own reward when you’re constantly trying to better yourself for the glory of God.
If you can say, “I worked hard today, and I’m proud of my effort,” then you’ve had a successful day, even if you don’t get the outcome you wanted.
I experienced a big mental shift after reading an article about how deleting the Facebook app can double your smartphone’s battery life. Until that point, my battery was drained by noon every day, and it was annoying to constantly have to plug in. I immediately deleted the app and was delighted that my smartphone lasted so much longer without it.
But the real reward wasn’t increased battery life. It was the disengagement from the social media comparison culture. Don’t get me wrong, I still check Facebook at night from my laptop. However, I’m no longer constantly scrolling through other people’s updates and having to fight the urge to compare my life to theirs. Spending less time on Facebook also helped me spend less time on other social media sites, which further freed me from the comparison trap.
That’s allowed me to focus on what’s really important in my life — my faith, my family, my work. If I’m feeling frustrated with my team or disconnected from my wife and children, I check in and ask how I’ve been showing up for them recently. Maybe I’ve been preoccupied with our revenue numbers and therefore haven’t been listening as well as I might have. Perhaps I was going through the motions because I was a little bored with a project or irritated by delays. Or maybe I’ve been contemplating buying a new car because I’m a little envious of my college buddy’s latest purchase.
As soon as I realize I haven’t been 100% present in the areas that matter most, I flip a switch and go all in. That simple mindset shift changes everything, and I’m reconnected with my true priorities.
When you put God and relationships at the center of your life, you will always be successful. The big salary and impressive-sounding titles may come, but your identity won’t depend on them. They’ll just be nice perks in an already rich and fulfilling existence.
Marriage was designed by God to bring abundant blessing into our lives as we work together in unity as husband and wife. I hope that if you’re engaged, newly married, or a seasoned spouse that you are experiencing all the blessings that marriage can bring.
Yet for so many couples, they never experience these benefits. Finances continue to be a leading cause of division, tension, and divorce in marriages. But let me encourage you – marriage is not the cause of your financial problems, It’s the very best solution.
So if you are planning on getting married soon, here are some key steps to take to get on the same page as your spouse before you say, “I Do”. I hope these principles will guide you leading up to and throughout your marriage so you can experience financial freedom and marital harmony.
Whether or not you’re aware of it, you have a philosophy about money. Your money philosophy is made up of thoughts, ideas, plans, dreams, concepts, beliefs, and principles. And your soon-to-be spouse has their own philosophy of money. And it’s probably not the same as yours.
So instead of fighting each other on how much to save or whether to tithe on gross or net income, go to Scripture. Adopt God’s philosophy on money to unite your hearts with one another. Your philosophy doesn’t have to be anything lofty or complicated. Here’s ours:
Giving is the highest and best use of money. (Acts 20:35)
Save consistently to be prepared for emergencies. (Proverbs 6:6)
Avoid hoarding. (Luke 16:25)
Spending is an indication of where our heart is. (Matthew 6:21)
True riches are more important than worldly wealth. (Luke 16:11)
Another great example of a money philosophy goes like this: “Debt is bad. Savings is good. Giving is fun! Stuff is meaningless.”
Whatever your philosophy is, decide on it together, surrender it to the Lord, and remember that it will probably be contrary to culture (Romans 12:2).
You can find some practical exercises on how identify your philosophy of money and unify with your spouse in Money Problems, Marriage Solutions.
If it hasn’t already come up, you’ll need to have some honest and vulnerable conversations about money. When you get married, you’re agreeing to commit yourselves to each other for life.
This means you’re binding your finances, and your futures together. And there is no place for secrets or deceit.
Discuss any current or previous financial obligations, like student loans, credit card debt, or bad credit history. Talk about your current income and financial plan. And dream about the future!
Make goals to save, give generously, and travel together.
Get specific about your expectations and roles about money in your marriage. There tends to be one partner who is more skilled or adept at managing finances. It doesn’t matter if this is the husband or wife, but decide who is going to pay the bills and organize your finances. I also suggest you:
You can find all these steps and more help with Crown’s Money Map. Make plans to reach your goals and seek financial freedom together.
Talk About Personality.Sometimes I joke that my wife and I are as different as a pit bull and a poodle. While it’s a funny mental image, it’s also pretty accurate. She approaches life completely differently than I do, and it could present problems if we didn’t have the right perspective.
But instead of trying to make Ann’s personality fit the mold of my personality, I see our differences as complementary strengths. She makes up for where I am weak, and vice versa. With this attitude, we not only accomplish much more, but we feel more fulfilled because we are operating in our strong suits.
Don’t try to change your spouse. Become a student of them for your entire marriage. Thank God for the way He brilliantly and uniquely designed them, and for His mercy to match you with someone different than yourself! Crown’s founder, Larry Burkett, used to say “If you’re both the same, one of you isn’t necessary!”
In all this, remember that marriage is a blessing and a joy. Of course it will not fix all of your problems or guarantee a life free of stress, difficulties, or challenges. But God designed it to be good, a blessing to your life, and regardless of your circumstances, it’s worth your every effort to protect and preserve your marriage.
If you are looking for more practical tips, or some premarital reading material, pick up a copy of Money Problems, Marriage Solutions!
A few weeks ago, I met an interesting couple. I had just given a speech at a seminar, and they approached me to ask how they could improve their relationship. They were very much in love, but personality conflicts were creating problems in their marriage.
“You need to take a personality assessment,” I told them. “Identify your similarities and differences, and figure out how you complement one another. Once you understand your individual strengths, you’ll be able to leverage those and become an even stronger team.”
I sent them a personality test, and a few days later, they emailed me to tell me what an impact it had made already. They each saw themselves in a new light, and they began communicating more effectively because of the insights they had gained from the test.
Personality tests don’t just improve personal relationships, though. You can also take a personality test to find the right career or make a career change. Tests such as Crown’s Career Direct Assessment can help you find the perfect professional fit and experience deep satisfaction in your career. The more you know yourself, the more likely you are to find meaningful, fulfilling work.
In the seven years that I’ve been recommending personality assessments to people, I’ve never once heard someone say it didn’t help. I’ve worked with CEOs and Ivy League graduates, and they all say it’s helped them learn about their core traits and strengths, and shape their lives around those.
Before we explore the benefits of personality and career tests, let’s talk about the elephant in the room. Many people don’t believe these assessments are effective. An ambitious young man I know shared a story with me that was unfortunate but also unsurprising. At a career symposium, he asked a recruiter her opinion of personality tests. In front of 2,000 fellow audience members, she dismissed him outright and said personality and career tests don’t work.
The man was embarrassed and a little disheartened, but fortunately, he didn’t give up on personality assessments. This recruiter likely had her own reasons for adamantly rejecting career tests, especially automated ones. People are protective of their jobs, and recruiters often have their own “secret sauce” for evaluating candidates. They will always be a little skeptical of a computerized test that does part of their work in half the time. So you always have to take people’s gut reactions with a grain of salt.
But people have other reasons for being skeptical of personality tests, and not all are based on personal bias. Some assessments, such as the popular Myers-Briggs approach, can narrow down the way people think about themselves.
For instance, if someone discovers they’re an INFJ based on the Myers-Briggs system, they see their personality solely through that lens. They think of themselves as introverted and creative, and they judge all of their impulses against the INFJ characterization. But that creates internal strife when their feelings or inclinations fall outside those parameters. “I’m not feeling like my normal introverted, contemplative self today. What’s wrong with me?” they wonder.
Or they begin categorizing people by their Myers-Briggs results as well. If you’re introverted and you find out someone is an ENTP, you might judge them as being overly talkative, hyper-logical, and lacking in emotional awareness. That description is a very watered-down version of the ENTP profile, but that’s the danger of creating personality labels. We make assumptions when we categorize people into groups, which limits how we see others and ourselves.
Our team is highly aware of those risks, which is why Crown’s Career Direct Assessment doesn’t generate profiles that tell people who they are or what they should be doing with their lives. We understand that that approach feels divisive to some people, for good reason.
I once consulted with a company where I used our personality inventory to get a baseline understanding of everyone on the executive team. Before starting the test, two women on the team approached me and said they wouldn’t take the test.
“We know what the report will say about us, and our boss will use it against us,” they told me. “He’ll say we’re not suited to our jobs and either reassign us or fire us.” I reassured them that that wouldn’t happen, but their boss proved me wrong.
He took one look at their results and zeroed in on perceived flaws, such as a lack of detail-oriented thinking, after which he decided to remove them from their current positions. I persuaded him not to use the test as a be-all, end-all criterion for employee assessment. But it was a powerful lesson in how limited people’s interpretation of personality tests can be, and how strict readings of the tests can lead to unfairness in the workplace.
With the right implementation, however, personality and career tests can be powerful and enlightening. Rather than map people onto specific profiles, Crown’s Career Direct Assessment works on a grading system that shows where someone falls on a spectrum of strengths and passions.
So you might be extroverted, but you only score 30 out of 50 on the extroversion scale. An extroverted colleague might score 45 on extroversion, while another team member is off-the-charts on the introversion scale.
When you see that you and your peers fall at different places on the spectrum, you realize that no two people are the same at all. You may share certain traits but only to varying extents. Instead of categorizing yourself as extroverted and argumentative, you may realize you’re mostly extroverted but have introverted impulses, too. And maybe you do like to argue, but only to make a point that’s important to you. You don’t enjoy arguing for the sake of arguing.
The nuances matter, and they help us realize that each of us possesses a rich inner life.
We believe that God gave each of us unique gifts and that there’s unity in our differences. Our goal is not to put people in boxes but to bring their gifts to light. Then they can use that self-awareness to work in harmony with themselves and their colleagues.
At their best, assessments help us understand ourselves more fully. Throughout our lives, each of us constructs stories and frameworks for how we see ourselves. Those narratives often gloss over our imperfections. That’s understandable. Most of us are at least a little insecure, and it’s painful to acknowledge our shortcomings. The stories we tell ourselves can assuage that pain and allow us to move confidently toward our goals.
But if we’re too attached to those stories, they can cause discord in our personal lives and stress in our careers. A personality test helps us to go deeper into the story and look at both our strengths and weaknesses. Then we can understand how our habits are helping or hindering our sense of fulfillment.
The author Jeremie Kubicek says, “You have to know yourself to lead yourself.” This is true in every area of our lives. In my case, knowing myself meant recognizing that I have a tendency to talk over people and dominate conversations. Once I realized that, I became more self-aware about how I conducted myself in meetings. I don’t want people to feel like I’m steamrolling them, so I’ve become conscientious about letting others speak and waiting to respond until they’re finished.
This awareness extends to my personal life now, too. When my wife and I are having a conversation over dinner, I can look across the table and imagine how she’s experiencing me. If I’m being too adamant in my points or not giving her a chance to speak, I pull back. We’re partners, and I want her to feel that I respect her in my words and actions.
A good personality and career test provides insights in three key areas:
Nature
Your nature is how you were designed. It speaks to the basic tenets of who you are. Your excitable personality, your tendency toward contemplativeness, your love of big crowds, your passion for argumentation, your calling to service — those are all facets of your nature.
Understanding who you are at your core will guide you toward a career path in which you thrive and in which you help others do the same.
Nurture
Nurture refers to the environment in which you were raised. There’s an ongoing debate about whether nature or nurture is more influential in determining our personalities, but it’s clear that both play an important role. Many of your beliefs, habits, and ways of interacting with other people likely come from your parents and other influential figures in your life.
When you examine where those behaviors stem from, you can determine whether they still serve you and whether you’d like to make changes in how you engage with the world.
Experience
Unlike the first two, experience points to the present moment. What are you doing in your current work environment? What have you done in the recent past? It accounts for your career trajectory up to this point and helps you evaluate whether you’re satisfied on this path.
If you’re not happy with your existing journey, a personality assessment will help you identify a job or career better-suited to your nature, nurture, and desired experience.
Seeing yourself through these contexts provides a holistic view of your personality, and that’s the real value of personality and career assessments. It’s not about saying, “OK, this is my personality type, therefore I should be doing X job.” It’s about knowing yourself more deeply so you can choose the right professional roles and experience greater happiness in all areas of your life. Personality tests shouldn’t put you in a box; they should free you to live a more fulfilling existence.
