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.
People around the world desire to save money for a variety of things like a car, college, wedding, house, vacation, adoption, or to pay off debt.
Marie Franklin decided to get serious about saving. Taking the theory of paying herself first she saved every $5 bill that she encountered. And, over a period of 12 years, she saved $36,000…all in $5 bills.
In an article from time.com she says, “The number one reason most people don’t save is that they don’t have a savings plan.” She theorized that by spending cash she could collect every $5 bill that she would never see if using a debit or credit card.
The unique thing about this is she began saving while she and her husband were financially strapped with two daughters attending private colleges. Once she saw the bills begin to accumulate, she became so motivated, that her savings method became a game, a habit to see how fast she could grow her money.
Most people assume they can only save when there is an excess of funds. But, far too often, there is excess but it is squandered by the use of credit cards. What we want exceeds what we truly need. And, there’s the problem.
We must learn to want to live in God’s economy, not the world’s. We must reject what the world says we need. Living in such a way is a testimony to those around us and a classroom for our children.
It is no easy task in our world today. But, Philippians 4:13 says, “I can do all things through Him who strengthens me”. Pray, for strength in your weakness and temptations.
And, realize that in one year, 365 days, you could save $1,825 in fives!
Crown has partnered with Christian Credit Counselors, a highly reputable firm, to help you get out of the credit card trap you may be caught in. These three steps are possibly your best moves to escape living on the financial ledge this year. Learn more about our partner Christian Credit Counselors.
ZeroHedge.com recently revealed the states where consumers accumulated the greatest revolving debt. Hopefully, you were not among those who woke up regretting the addition of thousands of dollars to your credit cards over the holidays (at a 30% interest rate nonetheless).
Minnesota and Wisconsin dominate the list of cities with the top 10 best credit scores, while cities in California, Texas, and Louisiana account for 8 out of 10 of the worst scores. 
According to MarketWatch, the average family in the worst states would be required to apply 15% of their median income toward debt repayment and it will take them over a year and a half to pay off their credit card debt.
The situation is further defined by ValuPenguin. There, it is reported that millennials carry an average credit card balance of $5,800. But even sadder, Americans past retirement age are carrying credit card balances over $6,000 well into their 70’s.
The Lord told us In Matthew 6:19-20 “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal”.
One important step this year is to pay off all your credit card debt and fix your eyes on Christ. My prayer is that this is a year where the things of this earth will grow strangely dim in the light of His glory and grace.
Crown has just released our online MoneyLife Personal Finance Study! You can learn God’s plan for your finances in the convenience of your own home at your own pace. Check it out today!
Originally posted on the Christian Post on January 6.
Dear Chuck,
I read your column about making New Year’s resolutions, and I’ve made mine: Get out of debt. It’s not my first attempt, but I’m hopeful that this time I can do it. I wish I had a more creative tale of woe, but it’s basically the same old boy-goes-to-college, boy-gets-loans-and-credit-cards, boy-wants-out! How should I get started?
Looking for a New Beginning
Dear New Beginning,
Congratulations on deciding to take another run at getting out of debt. I will address the student loans and the credit cards alike. And yes, you can do this! The final chapter to your tale should be three steps to boy-pays-off-all-debt!
debt
Part I – boy-makes-a-plan
Your story is important and is shared by many. In fact, a Pew study found that nearly 7 in 10 Americans view non-mortgage debt as an unhappy “necessity.” You’re actually in a minority who prefer to be free of your debt, as the study also found that only one in five said “no amount of debt is worth it, regardless of opportunities it might offer.”
Many chose to borrow because we believe that we have a chance for something valuable or perhaps because we think it’s our best option, today, to do something that is necessary. But the tragedy of debt is that it shuts down opportunity as some are pulled only to work to serve someone else’s interests – those to whom you owe the money.
Proverbs 22:7, “The rich rule over the poor, and the borrower is slave to the lender.”
In counseling people in debt, I’ve found that many promising young people would love to pursue their dream of teaching in the inner city or devoting their time to missions or working for a non-profit. But they don’t feel that they can because they need more resources to cover their obligations. The first step towards your dream begins with making a plan to free yourself from anchors in your life. And debt is dead weight.
Part II – boy-pays-off-credit-cards-first
Begin today by pledging to take on no new debt. You may hurt your credit rating if you shut down all credit cards, but you can cut them up so that you’re not tempted to add to the totals, keeping one under lock and key.
Your best protection against using credit cards is an emergency fund, so priority number one is to begin immediately to set aside $1,000 in a savings account. Get this done first so that you don’t need to rely on credit cards or other borrowing when your car’s transmission conks out or any other expenses pop up.
Priority number two is pay off the credit cards. Employ the Debt Snowball Calculator to attack your debts one at a time. Consider a tiny snowball that you roll and roll, until it becomes huge. In the same way, we start by tackling the smallest debt first, making the biggest payments you can, and after that is eliminated, you roll your resources into the next biggest debt, until you are free. This frees up more resources to apply towards paying off other debts but, more importantly, gives you a sense of victory. By the time you get to your biggest obligation, you’ve already accomplished a lot.
When you get credit cards under control, you will be able to keep one and pay off the balance each month. If you struggle to pay off the balance, stop using it and go to an all-cash budget.
Part III – boy-pays-off-student-loans
Ideally, debt should not be more than 5 percent of your overall budget. You can follow this link to a free budget guide from Crown, which can help you see all your obligations and what percentage we recommend for each item. Many free resources are available to you as you begin this journey.
You now have an emergency savings account of $1,000, no credit card debt, and lots more available cash – plus a functioning budget or cash management plan. You are writing a great tale by now! Before you are done, begin increasing your savings in the Emergency Account to 3 to 6 months of your living expenses and begin making extra payments towards reducing your student loan debt. Through diligence and discipline, you will see your dream accomplished in time.
If you don’t want to go it alone, carefully chose professionals who can help you with a plan. (Desperate people are too often victimized by those who just add to the problem.) Crown works with trusted partners, like those at Christian Credit Counselors, who have experience in helping people talk with their creditors and stick with a plan.
This is a great New Year’s Resolution but you may need to repeat it for the next several years depending on how much debt you have. As the Scripture says, don’t be a slave to debt. Galatians 5:1 says, “It is for freedom that Christ has set us free. Stand firm, then, and do not let yourselves be burdened again by a yoke of slavery.” Start praying now about what God would have you do with your career and resources as you have more options, as debt becomes your past and hope your future. And let us know how we can help as boy-becomes-debt-free.
In this dark world, we need help to see our way. Psalm 119:105 declares that “God’s Word is a lamp to our feet and a light to our path.” Yet many, who claim to know the Lord, do not rely on this 
power on a daily basis.
Tim Challies at Challies.com defends personal devotions for a reason greater than self. He states that the benefit of knowing God extends to your family, your neighbors and your church. If you aren’t doing devotions for your own benefit, then won’t you do them for the sake of others?
Husbands & Wives: Read the Bible as an expression of love for your spouse. Growing in the knowledge of God’s love will bring humility in light of His majesty, realization of your sins and greater dependence on Him. A greater love for God will overflow into greater love and appreciation for your spouse.
Parents: Time in the Word will grow you in virtues needed to parent well. Patience, mercy, respect, and self-control can develop out of time spent with the One who knows these best.
Neighbor: Loving God by spending time with Him will overflow into a desire for your neighbors to enjoy this same intimacy. Time with the Lord spills over into sharing the Good News with joy. Apathy in evangelism can turn to intentionality.
Church Member: Read your Bible so you will grow in conformity to Christ. Knowing the Word will help protect your church from error and ungodliness, and grow you in holiness to protect your church from your sin.
As Proverbs 3:27 says, “Do not withhold good from those to whom it is due when it is in your power to do it”. Learning God’s financial principles in your daily devotions will make you a better steward, a better spouse, a better parent and a better servant of the Lord.
Resolve to start the New Year in God’s Word. May your roots grow deep into Him and overflow with goodness to others.
All of us have probably purchased something we didn’t need. But, do you know why? Lauren Greutman, gives reasons in an article she wrote for the Huffington Post. Here are a few she discovered, with my solutions to the problem.
You want to impress people.
Solution: Find your true identity in Christ. Greed and pride can stunt your character and will keep you in bondage.
You’re in the habit.
Solution: In just 21 days you can break the shopping habit and develop a savings habit instead. Only go to the store if necessary and then, with a list. Avoid any impulse purchases. Pray before you go to avoid temptation.
You don’t think through what you already have before buying.
Solution: Could it be that you are not thankful for what you have? Or, maybe your closets are so full you have forgotten what is there? Use what you have and donate or sell the excess.
You’re depressed and you feel better buying stuff.
Solution: In the long term, these purchases are not going to make you feel any better. In fact, they will do you harm. Delight yourself in the Lord and find a way to serve others.
You’re selfish.
Solution: Discover the joy of keeping your eyes on Jesus and listening to the Holy Spirit. He will put people in your life that you can help with your money rather than spending it on yourself.
You’re exposed to too much advertising.
Solution: Limit time on computers, social media, TV, magazines, and window shopping. Guard your eyes to protect yourself from what the world says you need.
You feel that more stuff gives you greater security.
Solution: That’s a lie. God is your rock and fortress. Things don’t buy you peace or security.
You neglect creative solutions to your problem.
Solution: Think before you buy. Do you really need it? Can you borrow it, fix it, or find a used one?
A recent article at ToughNickel.com listed 10 things you should never say in a job interview. Here goes.
How much does this job pay?
Typically, money is not discussed during the first interview. If, at the end of the session the interviewer should ask what salary you expect, give a realistic range of salaries you can accept without pricing yourself out of the job or limiting your earning possibilities.
What does your company make or do?
Do your research before the interview. Find the company online and learn as much as you can.
Slang words or phrases or improper English.
The interview is a formal conversation, so if you want to be taken seriously, use proper English. Otherwise, you may come across as disrespectful, casual, and not serious about doing good work.
What are the benefits, vacations, promotions, and bonuses?
The first interview is about what you can offer the company in the way of skills, talents and experience.
Avoid: Curse words or profanity of any kind.
Never. Ever.
Stereotypical language about other people.
Never speak of others in a derogatory manner.
Anything critical of a former employer.
Criticism informs the interviewer that you will do the same to them. Instead, explain that you had a difference of opinion regarding work styles or philosophies. Don’t elaborate. Keep it short and to the point.
No, I have no questions for you.
This sounds as if you’re not very interested in the company or very smart. Prepare three questions beforehand to ask during the interview. Like, what new products or services are they considering? Do they plan to expand?
I don’t have any weaknesses.
Failing to admit them will cause the interviewer to think you are proud, lying, or not thinking.
And finally, don’t talk about your life story.
Keep it to your education, work experience, volunteer work and hobbies. Do NOT bring up personal problems.
Role-playing can alleviate fear and make you more comfortable in the actual interview.
Practice using good grammar and what Proverbs 16:24 teaches: “Gracious words are like a honeycomb, sweetness to the soul and health to the body.” Read this and find more helpful tips atCrown.org.
First of all, protect yourself from advertising overload. Companies know how to play on our emotions to get us to purchase their products. Rather, pray for legacy-building ideas that don’t require money. Intentionally plan a stress-free holiday that allows you to focus on Christ, the best gift of all.
What do you have? Think about it! Time, talent, and training cannot be underestimated!
Give of your possessions. Pass down things that can be treasured by others. Take note of what your children or friends especially like in your home.
Write letters expressing your love and appreciation.
Think about holiday entertainment that you be do as a family without spending money.
Serve together. Is there a needy family, widow, or shut-in who your family could help in some way? Yardwork, cooking, cleaning, and car or home repairs are a few ideas.
Play together! Board games, puzzles, hiking, walking and outdoor sports are great. Have a bin of toys to occupy the youngest ones.
Read aloud. My wife has collected Christmas books through the years and looks forward to sharing them with the grandchildren. The Christmas Carol by Dickens is a wonderful book to share over several days. Reading through the book of John is a beautiful and life-giving reminder of why we celebrate Christ’s birth.
Sing and make music together. Christmas carols are beautiful and we only get to sing them one month each year. Borrow some hymnals or print copies of desired selections and rejoice together.
Put on a play, puppet show or comedy night. Or, ask the children to plan the production.
Finally, delegate and shop for special meals. Buy ingredients when they are one sale and enjoy preparing things together.
Involve the younger generation and learn from the older ones to build on or start some lasting traditions!
Recently I shared some good reasons to buy a home at year end. Today, I want to share why it is good to list your home for sale during November and December.
Three years ago, we sold our home in November after listing it with Nikki Bonds. She is a successful realtor with some good reasons to list your home during the holidays. See if you’re convinced!
1. People who look for a home during the holidays are more serious buyers. Since there are fewer houses to choose from now and less competition, that means more money for you.
2. Houses often show better when decorated for the holidays. Serious buyers are more emotional during the holidays and more likely to pay your price.
3. Buyers have more time to look for a home during the holidays and some people must buy before year-end for tax reasons.
4. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, your home should be on the market now to capture those who need to transfer. Your home can still be listed for sale, but restrict showings to days convenient for you.
You can sell now and negotiate a delayed closing or extended occupancy until early next year. In addition, you may have an opportunity to be a non-contingent buyer during the spring when more houses are on the market. This will allow you to sell high and buy low.
Some predict mortgage rates will continue to rise. If so, there are buyers who want to settle in soon. So, how can you make your home sellable?
I did some checking online looking for a study on this dilemma many Christians face. So far, I have not found any solid research on the subject! Most articles talk only about increasing your savings, not your giving. The Bible clearly instructs us to make giving our top financial priority.
Proverbs 3:9-10 says, “Honor the Lord with your possessions, and with the first fruits of all your increase; So your barns will be filled with plenty, and your vats will overflow with new wine.”
To honor the Lord, we put Him first by giving. This is not because He needs our money; it is because we need to be conformed into His image. He is the greatest giver of all. It shows we love Him, care about His kingdom, and want to do good for others. The verse is very clear that the way we do this is to make it an automatic action off the top of everything we earn.
This habit helps break the grip of materialism in our lives and also puts us into a greater dependency on the Lord. This verse does not promise wealth and prosperity. It assures us that we serve a God of abundance and we do not have to fear when we give. He will abundantly provide for our needs. But the Bible also teaches us to be like the ant and save. This discipline should come after we have established the habit of giving off the top. If you have any consumer debt, make a plan to get rid of it. Get in touch with our friends at Christian Credit Counselors for a free debt analysis. While getting out of debt is important, it is not to be your first priority; giving is your first priority.
