Third John 1:4 says, “I have no greater joy than to see my children 
walking in the Truth.” Amen to that! I would add my own corollary. I have no greater relief than to see my children able to pay their own way when they become adults.
We all want to help our children financially, but it is more important to teach them to become financially independent.
Here are some tips:
Preparing your children to manage their money well will set them apart from their peers and give them a great start in life. It is truly more important to teach them to fish than to give them a fish.
I recommend that you subscribe to our daily devotional called God is Faithful. We will send a short devotional to your inbox with Biblical financial insights and tips to keep you encouraged on your financial journey.
Tough jobs can stretch us and prepare us for the future. But Liz Ryan at Forbes.com says certain signs reveal when it may be time to change jobs.
1. If you experience stress that wakes you up in the middle of the
night, or stress that doesn’t go away after you finish a big project, you need to seriously consider finding a different position in the company or a totally different job. Ask yourself, does this job require the best use of my time and talents? If not, begin searching elsewhere.
2. You see no opportunity for advancement in your company. Regardless of how hard you demonstrate what you’re capable of doing, or how far you stretch your job description, the horizon looks dim. Ask for more responsibility or further training. If this is not well received, start searching.
3. You can’t be yourself at work. Do you enter your workplace and adopt a persona that you would never take on when you’re with your friends? God created you uniquely and individually with special talents and gifts. If you are unable to be who you are, then start searching.
4. You dread going to work on Monday morning. Several factors can cause this, but if you find the work so dreadful, then you should start searching.
Work is a gift from God and a means to bring Him glory. Finding or creating a job that allows you to do that will be fulfilling.
Remember that “Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.”
If you have mounting stress over your credit card debt, you can avoid bankruptcy and pay them back in full by working out a debt management plan with our friends at Christian Credit Counselors. They are experts at helping believers overcome heavy consumer debt.
More than ⅓ of our workforce are freelancers, according to the research firm Edelman Berland. That is 54 million Americans who have an independent approach to their employment.
A person who does freelance or contract work is defined as one who works by the hour, day or job without a regular salary from one employer. Although it can initially be stressful to procure jobs, this kind of employment grants the freedom to work your own hours with opportunities to negotiate higher rates.
Leif Wolcutt at Forbes.com recently shared three ideas to double your salary as a contractor.
First, research your field. Thoroughly investigate the appropriate range in price for your specific line of work and determine where your particular skill set fits into that range.
Second, establish a consistent invoicing strategy. Strive to maintain a steady cash flow. Granted, some work is cyclical involving heavy work in certain months. A retainer model may work for you.
A retainer agreement is a contract between a company and a consultant or freelancer in which money is paid in advance of the work. Having a worker on retainer benefits the company, as they know they have you dedicated to their work for a certain number of hours that they have paid for. It’s good for the freelancer because it’s money upfront and allows you to better budget your time and money for the month.
Third, be direct. Negotiating salaries can be uncomfortable but should not be avoided.
If you are confident that you deserve a higher rate, then notify your clients a month in advance of payment changes and new services and skills that you can offer with the increase. Share new training or certifications that are important in your line of work.
Remember too that the Lord bestows favor and honor. Be totally honest with your clients. Always give them great value. No good thing does the Lord withhold from those who walk uprightly.
A great way to gain financial skills and wisdom about work, giving, saving, spending and getting out of debt is to enroll in the online personal finance study that I teach. Check out the MoneyLife Personal Finance course now!
Dear Chuck,
With Valentine’s Day approaching, I wonder if it’s really necessary to spend a lot of money on a holiday that feels a bit made up. I’m feeling manipulated but I don’t want to disappoint my wife. Is Valentine’s Day worth celebrating, and how much is too much?
– Husband Needs Help
Dear Husband,
As a husband myself, I understand that Valentine’s Day can be an expensive day! Last year an estimated $19 billion was spent on this holiday. As people who desire to be good stewards and still show our love, we can find budget-friendly, creative alternatives to honor those we hold dear.
So here is my advice for not breaking the bank to honor your love.
No matter what you do, put your phones and computers away for an evening and give your full time and attention to one another. I know for my wife, the gift of my attention and servitude means 
much more than a giant teddy bear or box of chocolates.
When our children were young, Ann would give them little gifts that spoke of the greatest love – new Bibles, scripture bookmarks, and homemade heart cookies that were sweet reminders of God’s love. One couple we knew kept a Valentine Card, and gave it to one another each year with a new sentiment added. Now, that’s frugal and thoughtful!
The real question is what things are special to you as a couple, because it doesn’t matter what everyone else does to celebrate. Looking at some of the recent spending projections for the holiday, however, I would argue that Valentine’s Day shopping has gotten out of hand, as more than half of us prepare to make some kind of splash, trying to show love with things.
In 2016, according to the National Retail Federation, men spent an average of $134 while women spent a little more than $62. In fact, a lot of people will even spend about $26 on their pets, according to Forbes. Breaking it down even more, Bankrate put together a “Be My Valentine Index,” looking some of the most popular Valentine’s Day items and their average prices including:
My wife Ann and I choose not to make a purchase the center of our Valentine’s Day celebration. For us, time together is the gift we most value, and frankly, arranging to have a moment alone is an accomplishment! In fact, with so many of us caught in a whirlwind of activities and commitments, finding a quiet moment can take more effort than a quick purchase.
Understanding the history of Valentine’s Day can also refocus our priorities in a positive way. St. Valentine was a priest in Rome at the time of Emperor Claudius II. He was performing marriages in secret because the emperor had banned couples from being married or engaged in an effort to force men to join his army. Though St. Valentine paid for his efforts with his life, he is celebrated for his efforts to honor God’s command above man’s earthly pursuits.
A godly man puts his wife and family before himself. Ephesians 5 teaches that men are to love their wives as Christ loves the church, being willing to sacrifice, cherish and care for them. That kind of love forgives and forgets past wrongs, or as Proverbs 10:12, says, “Hatred stirs up strife, but love covers all offenses.” That kind of love sees the best in someone else.
The bottom line is to be thoughtful in the gifts you chose, not indulgent and lavish.
Maybe the most loving thing you can do this year is to stay on budget! You can do that with a little planning and prayer.
Above all, don’t feel pressured by others to spend a lot of money. Stay on track with your financial goals!
Consider making a plan to really spend time together throughout the year, building your relationship on a strong, biblical foundation. Crown has a new online study that you and your spouse or fiance can participate in together. You’ll understand how you and your partner feel and think about money and what God thinks about the kinds of choices couples face every day. This kind of gift – time together in God’s Word – can do so much more for a relationship than flowers.
So please do celebrate St. Valentine’s Day, but not with a credit card charge. Invest your time in building up your relationship because as it says in Ecclesiastes 4, two are better than one!
The Consumer Financial Protection Bureau recently reported than 1 in 4 consumers felt threatened when contacted by debt collectors. They experience collectors calling too often, at odd hours, and warnings of jail time and other frightening threats. Some were being
hounded for debts they did not even owe! Many complained that the collectors ignored requests to stop contacting them.
Sarah Skidmore Sell, of the Associated Press says that although the Bureau is working on stopping abuse, there are some things you need to know.
The Fair Debt Collection Practices Act protects those being pursued for personal debts on a credit card, auto loan or mortgage. Business debt is not covered.
Collectors must abide by rules in contacting you via phone, text, email, or letter. It is illegal for them to hide their identity, or pretend to be someone else in order to harass, threaten or deceive you in any way.
Contacts may not occur at inconvenient times like early mornings or late at night, or at work, if you’ve told them not to. Federal law limits the number of calls a collector can place, and forbids the use of obscene language and any threats of violence in the form of harassment, oppression or abuse.
Collectors cannot lie or misrepresent themselves or the amount you owe. They are not allowed to discuss your debt with anyone other than you, your spouse, or your attorney unless seeking information about you, such as a telephone number or your whereabouts.
Debt collection parameters vary from state to state, so contact your attorney general’s office for help, especially if you feel threatened. Abuse should be reported to the Federal Trade Commission and Consumer Financial Protection Bureau.
Now, on a more pleasant note. I recommend that you subscribe to our daily devotional called God is Faithful. We will send a short devotional to your inbox with Biblical financial insights and tips to keep you encouraged on your financial journey.
Jill Cornfield at Bankrate.com says the most common surprise expenses are related to vehicles, appliances, home-repairs, injury or illness. Unfortunately, nearly 6 in 10 Americans don’t have enough savings to cover an unexpected bill of $500.
This is a problem across our nation. When people pay with a credit card, the original expense can grow monumentally if not paid off at the end of the month due to high interest rates. Some turn to friends or family for help with the hope of paying them back. Others cut expenses in order to pay the bill.
An emergency fund is essential. If you have a car, children, pets, or a home it is inevitable that you will face some unpredictable expense this year. But with some money in the bank you can face it stress-free.
Paul Golden, a spokesman for the National Endowment for Financial Education in Dallas, stated that having $500 in savings improves one’s psychological wellbeing. It shows people they can achieve a goal. And, helps them aim for the next one.
So, get out of your comfort zone and set a date to achieve your goal. You can do it!
Consider fasting from something you spend money on, like desserts, sodas, restaurants, or movies and put that money in an emergency account. Sell something. Take on a part-time job.
Finally, and most importantly, seek the Lord. In Philippians 4:6-7 the Apostle Paul said, ‘Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and your minds in Christ Jesus.”
Allison Martin at MoneyTalksNews.com reports that it’s the small expenses that add up to blow a budget and ruin a spending plan. There are several main culprits.
2. Gasoline can be a guzzler, so plan ahead and combine errands, carpool, use public transportation, or walk.
3. Late fees on payments, Redbox, or the library can add up if you’re not careful. Keep items you need to return near your keys or in the car so you can easily drop them off when you’re out. Check your bank balances and always keep some cash on hand so you aren’t paying for overdrafts and ATM fees.
4. Your cell phone plan. If you are accruing extra charges, going over on your data, or paying for more than you need, call your provider and find a more cost-effective option.
5. Pampering may need to be curtailed. You may need to do your own nails, forgo the lowlights or highlights, and learn to cut the family’s hair. Postpone spa services until you have reached your financial goal. Instead, do like I did when my children were young. Pay them a quarter for a neck rub, foot or hand massage.
If you are fearful, discouraged and feel like a failure, remember this. The Lord spoke through his prophet Isaiah in chapter 41 verse 10. “Fear not, for I am with you; be not dismayed, for I am your God; I will strengthen you, I will help you, I will uphold you with my righteous right hand.” Trust Him.
Another great piece of advice is to start in our online personal finance class. You will learn practical and Biblical principles for managing money that will set you on an entirely new path!
Originally posted on the Christian Post on February 3.
Dear Chuck,
I need some help. I am a 50 year-old widow with a teenager at home, and I’m using credit cards to survive, drowning in late fees. I am over extended and miserable. My income cannot support my obligations so I decided to find a part-time job in the evenings and weekends. But now I am taken away from my weekly involvement and support system in church, leaving me very unhappy. Still, I don’t have any other way of paying off these credit cards. What should I do? Please help.
Struggling Widow
Dear Widow,
My team and I will pray for you as you and your child go forward in life. Please know you can contact us for more personal help.
Perhaps it will comfort you to know that God himself pledges to be a husband to you, saying in Isaiah 54:5, “For your husband is your Maker, Whose name is the LORD of hosts; And your Redeemer is the Holy One of Israel, Who is called the God of all the earth.”
You are not alone: there is help for you in the Lord who cares for you, in the community of believers, and through Crown.
First: Seek the Lord’s intervention. “Commit to the LORD whatever you do, and he will establish your plans,” Proverbs 16:3.
God is the ultimate resource for the wisdom, strength and guidance you need. Ask Him to direct your steps as you create a plan.
Second: Carefully build a budget. “Be sure you know the condition of your flocks,” Proverbs 27:3.
In a time in which most people’s money was tied up in livestock, this is a verse that says BUDGET! You can’t make a plan without knowing where you stand, and Crown has many free tools for you to take stock of your finances. Don’t be afraid to know the truth.
Track all of your income and expenses carefully. Look for ways to reduce spending and increase income. This will require discipline, but God can provide that as well. Second Timothy 1:7 says, “For the Spirit God gave us does not make us timid, but gives us power, love and self-discipline.”
Third: Humbly ask for help. “Plans fail for lack of counsel, but with many advisers they succeed,” Proverbs 15:22.
You do not have to figure this out alone. Crown works with some wonderful partners, like those at Christian Credit Counselors, who can advocate for you to lower payments and to organize your debt. I often recommend to widows and single moms to form a voluntary Advisory Board by gathering three to four men and women who are willing to give you advice as needed. It helps to get their input and encouragement on a monthly or quarterly basis. Talk to your church as well, as many have financially savvy members who help others with taxes and finances as a ministry. Just be sure they do not have a conflict of interest.
With years of experience counseling struggling families, your creditors want to reach a resolution too and will welcome your efforts to settle accounts. Once you assemble your advisors, take a look at the Debt Snowball Calculator to set up a debt reduction strategy.
Fourth: Stay in Fellowship with Believers. “By this everyone will know that you are my disciples, if you love one another,” John 13:35.
It’s true that working that extra job may take some of the time you would like to spend at church away from you. If at all possible try not to work Sundays but preserve that as the one day of week that you rest and worship. Also remember that no matter what sacrifice you are making, this short-term pain will be replaced by long-term freedom when your debts are resolved.
I don’t know your schedule, but many Bible studies take place during the week, and if you can’t find one that meets your needs, consider starting your own Bible Study group with the friends who are your support system.
Crown has some wonderful resources like our MoneyLife Personal Finance Study that can teach you and your friends about God’s attitude toward money and laying a spiritual foundation for the changes you are working toward.
If you’re looking for encouragement in the year ahead, please accept this gift from Crown. You can receive practical principles and daily encouragement from God’s Word in the God is Faithful devotional, sent straight to your inbox to consider what God has to say about our daily life.
Originally posted on the Christian Post on January 27.
Dear Chuck,
My husband and I are talking about starting a family, and to be honest, I’m afraid to do it. We have the usual bills and some credit card debt, and whenever I see stories about how expensive kids can be, I feel so intimidated. I saw a story recently that said it cost “between $12,350 and nearly $14,000 a year, on average, to raise a child.” What do you think we should do?
Preparing to be Parents
Dear Preparing,
Your question raises a truly important conflict that we as Christians face: the tension between a worldly perspective and a Biblical perspective, and children are a perfect case in point. The Bible clearly teaches us that children are a blessing. Psalm 127:3-5 put it like this: “Behold, children are a heritage from the Lord, the fruit of the womb a reward. Like arrows in the hand of a warrior are the children of one’s youth. Blessed is the man who fills his quiver with them! He shall not be put to shame when he speaks with his enemies in the gate.”
But so many of the messages of our culture run counter to that as children are portrayed as an expensive burden, a career-killer, or a “choice” that can be easily discarded through abortion. As you pray about the possibility of becoming a parent, be inspired by stories of women like Sonya Carson, who was raised in foster care and only received an education up to 3rd grade. But she didn’t let those difficulties stop her. She worked two and three jobs, trusted in the Lord, and raised two outstanding sons – one of whom is Dr. Ben Carson, famed neurosurgeon who ran for the Republican Presidential nomination in this year’s election.
But it’s understandable that the data released from the U.S. Department of Agriculture can sound daunting, especially since they estimated that “a middle-income, married couple with two children is estimated to spend $233,610 to raise a child born in 2015.” Put like that, it sounds like an 18-year mortgage!
To understand this math, you have to take into account short-term versus long-term thinking.
Many of these cost estimates are overstated. For example, in the data about the costs the U.S. Department of Agriculture figure includes housing costs, as though your child is a renter, and 26 to 33 percent of the total expense comes from a calculation about the cost of an extra room, with the cost varying based on the part of the country you live in. This calculation assumes that you set up each child with their own space…so if you don’t move to a new or bigger house with each child, if you borrow things or reuse them, or if your kids shared a room, you just saved a lot of money.
In fact, that same data showed that bigger families could be cheaper.
Fox News noted that “Families with three or more children spend an average of 24 percent less per child. USDA says that’s because children often share bedrooms in bigger families, clothing and toys are handed down and food can be purchased in larger and more economical packages. Also, private schools and child care providers may offer sibling discounts.”
Other big ticket items, food and childcare, are about 18 percent and 16 percent respectively. And while my wife Ann and I have raised four boys and paid for a lot of meals, food costs can be offset with all kinds of choices and childcare can be managed by a number of less expensive options.
Left out of the math of raising a child is the joy they bring you, the economic power of what they will contribute later in life, and even the savings to you as children become caretakers as their parents age. The sum total value of a child goes beyond the cost of diapers and daycare. John 16:21 observes, “When a woman is giving birth, she has sorrow because her hour has come, but when she has delivered the baby, she no longer remembers the anguish, for joy that a human being has been born into the world.”
You have the opportunity to teach your children extremely valuable lessons about work and money from a young age. Allow them to be creative and make do with what they have, do their own chores, work outside the home for extra income, and improvise when they cannot afford the latest entertainment. These are all activities that prepare them for becoming well adjusted adults.
Still, it is wise to count the costs to prepare for a blessing that does carry significant responsibility. So let’s get started:
Step One: Make a functional budget. It would be a major challenge to prepare for anything new in your life if you don’t know the status of your finances. Crown has some excellent free resources that can help. A great place to start would be with the Money Map. It’s a simple guide that will help you no matter what your financial state is. And if you’re dealing with credit card debt, get in touch with Christian Credit Counselors. They are our trusted partners in ministry and can get you started with a free debt analysis.
Step Two: Learn to save money. Like all new adventures, there will be a price to pay so you should save money with great joy knowing you are preparing for a new life.
Step Three: Evaluate your two-income status. Once you have a child, someone will need to watch your baby. Perhaps you have family in the area who can watch your baby at no cost to you or perhaps you can work part-time to lower the cost of childcare and spend more time at home. I have friends who arranged their work in a flexible schedule so that husband and wife could each take some hours in the day and care for their children themselves. I have another friend who opened a home-based business when she could not get any flexibility from her employer and 20 years later her business is still thriving. You and your spouse can look at your budget to determine whether staying at home during your children’s early years will work for you. There is no one right answer. But with your budget in front of you, it will be possible to see how the math works out for your family.
Step Four: Borrow, don’t buy. New parents can be overwhelmed by the huge amount of gear required for a baby. While it serves a purpose, most times all the stuff is only necessary short term. Talk to people around you about whether they have some items you can borrow or buy used. This kind of sharing is a great project for the local church, which can set up a “Baby Library” of items to be borrowed by members. Strollers are a great example, as you need them to grow in size along with your baby. “Hand-me-down” clothes are also a great way to save by finding friends who will pass along items their children have outgrown.
Step Five: Get wise counsel. Adam and Eve had to raise their children without the benefit of grandparents…but the rest of us are surrounded by resources in parents, friends with children, and other new parents. There are a number of wonderful ministries, Bible studies in local churches, or groups like MOPS (Mothers of Preschoolers) ready to lend a hand, a listening ear, and a much-needed break. You don’t have to figure this out alone. And you won’t be the first parents to find it all overwhelming.
But I can tell you from firsthand experience, when you hold your children in your arms and as you watch them grow through the years, you won’t be thinking about how much they deduct from your bottom line, but about how much they add to your life.
Step Six: Get involved in a Crown Bible study on personal finances. It will help you reduce fear, make a plan, and begin saving for your future children.
If you’re looking for a little encouragement in the year ahead, please accept this gift from Crown. You can receive practical principles and daily encouragement from God’s Word in the God is Faithful devotional, sent straight to your inbox to consider what God has to say about our daily life.
Christmas shopping can be the most expensive and stressful shopping experience of the entire year year. Many stores count on last minute, frantic shoppers to overspend out of desperation. So wehave compiled a list of these Christmas Budget Busters for you to look out for and tips on how to avoid them.
We’ve all been guilty of this at some point, but procrastinating around Christmastime is a dangerous budget-buster. If you feel stressed, frantic, or rushed while you are shopping, you’re likely to spend more than you planned. Stores anticipate this and place the big, sparkly displays with the over-priced items in the most visible places throughout the store. You see it, grab something in a rush, and checkout without even consulting your list or budget.
How to avoid it: Shop smart! If you have waited to the last minute, take a friend or set up accountability for yourself when you go shopping. Cramming in last minute shopping shouldn’t force you overspend or go into debt.
While buying special intentional gifts is better than gift cards, there is a long list of the hottest toys and items of the season and they can be expensive. They are advertised frequently and loudly to convince your kids, family, and friends that their lives in the next year won’t be as good as someone else’s without it. The truth is, most of these items are extremely overpriced around this time and prices will drop over the next 6-8 months, when some of the hype has died down.
How to avoid it: Explain to your kids or family why they shouldn’t expect to get that item from you for Christmas, but it could be revisited later in the year if it’s still something they want. Let the excitement about the item die down before you decide to pay full price for it. Give special gifts by making them or giving an experience instead.
Do you have a trigger store? This is the store where you leave with way more than was on your list, and sometimes you even forget the item that was on your list in the first place! A lot of us have a store like this, which is why it’s a lethal budget-buster around Christmastime.
How to avoid it: Don’t let yourself shop there for anything or anyone. And if you have to, do it online. Ask for gift cards here from friends and family so you can enjoy some guilt-free shopping in the new year, but don’t let yourself in the doors for the month of December.
Ever notice how you’ll see the same commercial over and over starting around Thanksgiving and leading all the way up to Christmas? It may be for a sale on diamond jewelry or the best-selling toy of the season. But when you get to the store, the item is completely sold out, even though the commercial is still running? The store is luring you in with a familiar and enticing ad but then forcing you buying a different item since the marketed one sold out long before. Chances are that since you’re already at the store, you’ll end up spending more money in the long-run since you don’t want to keep shopping around.
How to avoid it: Ignore commercials and research Christmas items. Get wish lists from family and friends and shop for specific items. Try calling stores before you go in to see if they have your item in stock and if they’re able to hold it for you. If the item you were hoping to purchase is sold out, don’t give in to the temptation to spend more for convenience’s sake.
Hopefully you get to interact with a friendly sales clerk, and not a grinch, but many of them will try to upsell you on what you’re purchasing or add related items to your purchase. Many stores hire seasonal employees to compensate for the busyness of the Christmas season and they are making money based off commission, so they are very motivated to get you to spend more.
How to avoid it: As nicely and politely as you can, stick to your original list and say “no” as many times as it takes. If you didn’t think of buying the more expensive model or the 15 accessories to go along with your item before you got to the store, you don’t need them once you are at the store. Stay strong and say no.
Stores also target your budget-minded self with good sales leading up to Christmas so you’ll buy things you don’t need and still spend more than you had planned on. These sales may be advertised with big signage, brought up when you check out, and set up all around the store. Even though it seems like a good deal, spending more than you budgeted for is never a good idea, no matter what the value may be.
How to avoid it: Stick only with what’s on your list. Write your list down with a pen and paper so you can cross each item off as you purchase them. Items only come off the list, nothing is added to the list. Congratulate yourself when you get to the car for staying strong and not giving in to the temptations of sales!
Hopefully these budget busters and ways to avoid them will help you have a very Merry Christmas and budget-friendly New Year. If your goal is stress-free Christmas shopping, download our 12 Tips printable here.
