By Chuck Bentley
Strongholds are false beliefs and bad philosophies. These happen frequently when it comes to money.
One financial stronghold that is hard to identify in ourselves yet is such a powerful negative influence in our lives is selfishness.
Selfishness is living with an attitude and view of the world that everything must work in my favor and to my advantage or it must not work at all!
We meet Nabal in I Samuel 25. His name means Fool. That is because he was captive to the stronghold of selfishness. He had plenty of resources but was unwilling to share a single bite of food with David and his men when they were starving! This was even after they had been very helpful to Nabal. His fate was sealed by his selfishness and he lost everything, including his life.
Let’s get practical. Selfishness is when we are unwilling to share or give of our money, our time or even our love. We are living for me, myself and I. This is a dangerous stronghold because it is very hard to admit that we are selfish. We see it in others but are blind to our own fault. That is why we stay locked in it for years. Selfishness can only be overcome when you obey God and become generous without expectation of what you will receive in return. Give of your time, of your money and of your influence! Don’t be a Fool – Nabal. Give!
Originally posted 8/25/15. Click here for part 3.
By Chuck Bentley
This is part one of a four-part series on financial strongholds. Many people have been taken captive by financial strongholds in their lives and are likely not even aware of it.
Listen to 2 Corinthians 10:3-5 carefully…
For though we walk in the flesh, we are not waging war according to the flesh. For the weapons of our warfare are not of the flesh but have divine power to destroy strongholds. We destroy arguments and every lofty opinion raised against the knowledge of God, and take every thought captive to obey Christ….
What are these “strongholds” we face? In this verse, Paul interprets the metaphor of a stronghold as “arguments against the knowledge of God”. In other words, these are the philosophies, reasonings, and schemes of the world. The “pretensions” have to do with anything proud, man-centered, and self-confident.
We often run for safety into the fortress of human reasoning and the pretense of logic. And there is the pinnacle of pride, in which the human heart revels in thoughts of its own excellence and sufficiency.
The victorious Christian escapes from these strongholds by identifying every false theory, every human philosophy and every prideful thought that have controlled us and replaces it with Truth.
Money will not destroy a financial stronghold. Only by the power of God’s Spirit and Word can we escape these false philosophies that hold us back from God’s plan.
Originally posted 8/24/15. Click here for part 2.
By Chuck Bentley
A popular money myth is that money can indeed buy happiness. The saying goes, “Whoever said money can’t buy happiness doesn’t know where to shop!” This myth is built upon a belief that our material comfort is the ultimate path to achieve our personal satisfaction in life.
1. This myth is contradicted by the Bible. Hebrews 13:5 says, “Keep your lives free from the love of money and be content with what you have, because God has said, ‘Never will I leave you; never will I forsake you.'”
The Lord is saying that your stuff will leave you and forsake, you but He will not. Materialism—placing our hope and joy in things—is actually the road to emptiness and misery, not joy.
2. This myth is contradicted by scientific studies. According to a study from Princeton University, money sort of buys happiness, but only up to about $75,000 a year. No matter how much more than $75,000 people make, they don’t report any greater degree of happiness.
Certainly we need money to pay our bills and take care of our family, but our greatest source of happiness comes from learning to be content with what we have and trusting God for our daily needs regardless of how much or how little we have.
A popular money myth is that money equals influence. We often think to ourselves that if we just had more money, we could influence more people. This myth is built upon a belief that money is needed to influence others to our cause, our beliefs of our view of the world.
True influence does not come from money. History is replete with examples of wealthy people who had no influence whatsoever—men and women who died rich, but in lonely obscurity. It is also replete with examples of poor people who had tremendous influence: Harriet Tubman, George Washington Carver, Mother Teresa, even Jesus Christ himself did not see money as necessary for his mission to be accomplished. Mother Teresa had almost no money or possessions, yet her influence spread from the slums of India around the world and ultimately led to the Nobel Peace Prize.
I was recently with a Brazilian pastor whose church has over 6,000 members. He started it with a handful of people and it grew stronger and stronger over the years. In spite of the large church budget, he lives simply. When I asked him about this he replied, “My Savior wore sandals.” This pastor had no need to try to impress people. Like Jesus, he did not see money as influence.
A popular money myth is that all wealthy people must be greedy. It has become popular on social media to express outrage over the incomes, lifestyles, or spending choices of the rich and to paint them as self absorbed, indulgent, or greedy. This myth is built upon a belief that money is accumulated because of greedy motives or manipulation or even deception.
There are some wealthy folks who are greedy and who make bad choices. But this is also true of poor people. Greed is a motive of the heart and we should not be quick to judge a person’s motives. I have known many wealthy people who are not motivated by greed whatsoever; they are in fact just the opposite: very generous people.
The Bible condemns two rich people in the New Testament. One is a foolish farmer wanting to tear down his barn to build bigger barns to store his large harvest and the other is the rich man who lived with the beggar Lazarus outside his gate. But be careful here. In telling these parables, Jesus NEVER condemns wealth, only their ungodly use of it.
For many who have been entrusted with wealth, it is a burden and responsibility they take seriously to steward well. They know they are providing jobs, creating good products that bless others, and seeking to be generous to God’s kingdom. When it comes to greed, it is far better to get the plank out of our own eye before we point out the speck in another’s.
A popular money myth is that poverty makes us more godly or righteous. Many times we think of people who live in strict self-denial or who are extremely frugal or who have taken vows of poverty as holy and more righteous than others. This myth is built upon a belief that money is bad and only corrupts people. Another term for this myth is the “poverty gospel.” It can be just as devastating to our effectiveness as Christians as the “prosperity gospel.”
Jesus never condemns wealth in the Bible. He also never exalts the state of being in poverty. Listen to Proverbs 30: 7-9: “Two things I ask of you; deny them not to me before I die: Remove far from me falsehood and lying; give me neither poverty nor riches; feed me with the food that is needful for me, lest I be full and deny you and say, ‘Who is the Lord?’ or lest I be poor and steal and profane the name of my God.” (ESV)
This passage does not exalt riches or support poverty. It also does not say that we must all be middle class. It is an expression of a proper heart attitude. The Lord provides the material needs of His children unequally, but His righteousness is spread equally. What we have does not make us more righteous and what we do not have does not change our righteousness one bit. We are made righteous because of Jesus Christ, not by our material possessions.
Originally posted 8/20/2015.
By Chuck Bentley
My 17-year-old has a summer job outside the home. He needed a bank account so he could cash and deposit his checks. Helping him open an account was a great experience, and I learned a few things.
First, a student can open a bank account, at most banks, for free if they are age 25 or younger. If they opt out of the printed bank statement and do online only, there is no monthly charge. This allows them to have access to a debit card and ATM machines plus online banking and automated bill paying services.
In a recent article in Yahoo Finance, experts agreed with me that, “If you want your student to learn money management skills, get him or her a checkbook instead of a credit card.”
In fact, a recent survey of 42,000 first-year college students found that the earlier teenagers had access to credit cards, the less prepared they felt for managing their own money in college.
Those who had checking accounts, by contrast, were “markedly more prepared” to handle their finances than those who were “unbanked” before college.
“Young people need to have finite amounts of money to learn essential skills such as budgeting and monitoring their accounts,” said Janet Bodnar, author of the book Raising Money Smart Kids.
There you have it. Open a free bank account, and avoid the credit card for your student!
Originally posted 8/13/2015.
By Chuck Bentley
Bankrate.com’s annual Financial Security Index Survey reported that Americans’ financial security slipped in July, with the Index hitting its second-lowest reading in 2015.
When it came to their jobs, 22 percent said they felt “more secure” compared with how they felt a year ago, and 14 percent said they felt “less secure.” While still positive, it’s a weaker response overall. Last month, 29 percent of those surveyed said they felt “more secure” about their jobs, compared with 9 percent who said they felt “less secure.”
They were also concerned about their level of savings. When asked about the money they’d socked away, 29 percent said they were “less comfortable” with their level of savings compared with a year ago. Only 18 percent said they were “more comfortable.”
From a biblical perspective, we should never feel financially secure. First, our security is not in our job or our savings account. We only have true security when we place it all in Jesus Christ. He is our true provider and our only source for peace. Second, all that we have is not really ours. We are temporary managers, not owners. That is why it is foolish to begin thinking we are comfortable with our possessions.
Proverbs 18:10-11 says, “The name of the Lord is a strong tower; the righteous man runs into it and is safe. A rich man’s wealth is his strong city, and like a high wall in his imagination.”
Originally posted 8/12/2015.
By Chuck Bentley
According to Bankrate.com’s Financial Security Index, for the first time in three years, real estate was the most popular investment option in America. That is almost hard to believe, given the real estate bust we experienced in 2008 and 2009.
When asked what kind of investments made the most sense, 27 percent said they would invest in property if they had a pool of spare cash. CDs and other cash investments, the top answer in Bankrate’s 2013 and 2014 surveys, came in second at 23 percent.
Possibly some of the reason for this shift is that home values are rising. S&P/Case-Shiller’s latest measurement of national home prices shows a 4.2 percent year-over-year gain from March to April. Since February 2012, when the index bottomed, prices have increased 26.8 percent.
Another reason Americans may prefer investing in real estate is that it is often easier to understand than stocks, bonds, and commodities. The Bible instructs us to “know the condition of your flocks,” so it is advising us to understand our investments.
But remember, many people were “upside down” on their home mortgages less than 7 years ago. Don’t forget that real estate can go up and down. It is never wise to invest with debt. So if you are in the 27 percent who prefer to diversify into real estate, operate with cash that you do not need to quickly access, or move your money into lower risk alternatives.
Originally posted 8/11/2015.
By Chuck Bentley
I have recently had a barrage of calls on my mobile phone that appear to be from a local number on my caller ID but turn out to be a recording that makes it sound like I must push a button to have their service right now! I had three from the same company in less than 24 hours.
Telemarketers are increasingly targeting mobile phone numbers for politicians, donations, and slick sales gimmicks. Here is what you need to do to stop, or at least minimize, those annoying calls.
Many people are giving up their landlines entirely, and telemarketers know this. Additionally, even people who still have landlines are more likely to answer their mobile phone because the mobile phone is generally within arm’s reach 24/7.
There are two easy ways to add you mobile phone number to the Federal Trade Commission’s Do Not Call registry:
Go to the FTC website, DoNotCall.gov, or call directly 1-888-382-1222.
If you continue to receive telemarketing calls on your cell phone after joining the Do Not Call list, you can block those specific numbers and even file a complaint against the companies with the Federal Trade Commission.
Good stewardship is avoiding the things that waste our time. I have a policy not to make commitments over the phone to organizations that I know nothing about, so I prefer to block these robo-calls. That does not mean that it will stop all the calls. Honest companies will abide by the law, but be careful not to get tricked by a dishonest company that violates your Do Not Call request.
Originally posted 8/10/2015.
By Chuck Bentley
Practicing good stewardship of the land and eating healthy food can present a number of challenges, even for basic items like eggs. The price of a dozen eggs soared more than 30 percent in just one month to $2.57 in June from $1.96 in May.
Some Americans prefer to eat eggs from chickens they’ve raised themselves rather than buy eggs from their local store, at least for now. But the overhead investment on a backyard flock can be steep. And it’s a big commitment. What’s a sustainability-minded omelet lover to do? How about renting a chicken?
RentTheChicken.com, a company with 12 affiliate locations in the U.S. and Canada—say they’ll rent you your own egg-laying chickens.
It might give you peace of mind to know where your eggs come from, but even accounting for the recent surge in egg prices, it still works out to be six times more expensive than buying a dozen eggs at a supermarket. It costs $400 to rent two chickens or $600 for four chickens for six months, including a coop, food, and water dish. There’s free delivery within 50 miles of one of the company’s locations. The first plan works out at around $16 for a dozen eggs, assuming you get around a dozen eggs a week.
For many, this may sound crazy, but the business allows you to try it out and offers you the option to return the chicken at any time. I hope this gives you some alternative ideas to keep your family healthy and be good stewards at the same time!
Originally posted 8/6/2015.
By Chuck Bentley
Citigroup will issue refunds to 8.8 million consumers totaling $700 million for worthless add-on credit card products or services.
In one allegation, Citi telemarketers were said to have sold consumers identity theft protection services with a 30-day “free” trial, when no such free trial existed. Or they signed up consumers for an add-on service when it was ambiguous whether the consumer actually said they wanted it. In another situation, Citi sold credit-monitoring services when they weren’t performing such services at all or were not actively monitoring a consumer’s credit file with credit reporting bureaus.
Citi also allegedly misled its customers by charging a $14.95 “expedited” payment fee to customers who made over-the-phone payments and did not tell consumers about no-fee options.
Nick Bourke, an expert at the Pew Charitable Trusts specializing in consumer lending issues said, “ Add-on services, for the most part, provide no benefit to consumers and people should be very careful to sign up for them.”
I wanted you to be aware of this because many of our largest banking and financial institutions have historically enjoyed reputations of integrity. Sadly, that is no longer the case. Be very skeptical of any phone solicitation trying to sell you services that may be available for free—or may be totally unnecessary.
Originally posted 8/5/2015.
By Chuck Bentley
A recent article in Yahoo Finance revealed that a high profile music star put on the lavish lifestyle of a rap tycoon, but he says the bling-bling in the videos is all returned to the store.
The rapper, who has filed for bankruptcy, has testified in court that his ostentatious displays of wealth are all a show.
Curtis James Jackson III said that his flashy cars and jewelry were all borrowed and that his own possessions included a Casio rather than Rolex watch. He is best known for the album and movie “Get Rich or Die Tryin’.”
While this is a sad and sordid story of one wanting to display a pretentious life of ease, comfort, and worry-free riches, it happens to millions of others who also live well beyond the lifestyle they can actually afford.
Today’s easy credit and low interest rates offer Americans the ability to leverage their spending in a way to give an appearance of wealth that is not reality. We have become a land of McMansions, designer clothes, high tech gadgets, and flashy cars, and much of it is based on borrowed money.
Proverbs 12:9 says, “Better to be a nobody and yet have a servant than pretend to be somebody and have no food.”
Free yourself from the concerns of other people’s opinions and you will do far better managing your financial choices than trying to keep up appearances. This requires genuine humility, an eternal focus, and a heart to serve—not simply impress—others.
Not only will you have a far more secure financial foundation, you will also have what the Bible calls true riches. And contrary to the movie title, Get Rich or Die Tryin, you will live with true riches now and for eternity.
Originally posted 8/4/2015.
