By Chuck Bentley
Many think that stewardship is only something that we do, like a financial plan that we must put into practice to become good with money.
While it is important to be disciplined in the way we manage money, it is more important that we learn to see our entire identity as that of being a steward. You see, God owns the world and everything in it, including you and me.
We will never be the owners…we pass through this life as temporary manages of the time, talents and resources that the Lord has allocated to us. When our lives are over, we are evaluated on how well we remained faithful and disciplined with our time, talent, and resources and then we are God’s stewards for all eternity. You and I will never be anything else but stewards! In military language, that is our name, rank and serial number!
First Corinthians 4:2 says, “Moreover, it is required of stewards that they be found faithful.”
Notice that this verse does not say, “successful.” God is looking at what is in our hearts. Are we faithful to Him and His purposes? Are we learning to be faithful in every choice we make? Are we seeking first the kingdom of God?
Because faithfulness is a heart issue, you can be faithful whether you have a lot or a little. The key is to keep money out of your heart. Here’s a test – would you be devastated if you lost all of your money tomorrow? While that would be a shock and require an adjustment, you would not have lost your identity. You would still be a steward required by God to be faithful to adapt to those circumstances. Our finances may go up and down, but our identity will never change, for all eternity.
Originally posted 8/3/2015.
By Chuck Bentley
One evening, a pastor friend of mine arrived at his house about 30 minutes before members of his church were coming over for a Friday night Bible study. When he entered his home, his wife was in tears; the electric company had just shut off all power to their home for past due payments on their monthly bill, and they did not have the money to get it turned back on.
The pastor did some quick thinking and came up with a plan to have the Bible study “by candlelight” to cover for his embarrassment. He explained to me that all during the study he could hardly pay attention because of the shame he felt inside. He had disappointed his wife, his children, and now he felt his congregation would discover that he had never been able to manage his finances well.
He resolved before the Lord on that night to learn how to manage his finances and to honor his family in a new way. He began looking for resources to teach him how to create a budget, how to pay off his debt, and how to honor God through his stewardship. He chose Crown’s small group study and took a group in his church through the 10-week course. He confessed to his group his own struggles and vowed never to be a hypocrite again by hiding his financial troubles.
I had no idea of the powerful story bound up in the life of this pastor who served side by side with me as my translator when I taught in Brazil. Today, it has been 8 years since that painful candlelight Bible study. My translator friend is debt free, his family is thriving, and his ministry is full of life-changing fruit from those he serves.
Originally posted 7/30/2015.
By Chuck Bentley
While it sounds ridiculous, you may actually be taking out a mortgage when you use your credit card to purchase things like pizza or coffee or gasoline. Here’s why:
If you use a credit card that carries a $2,000 credit balance with an 18 percent annual rate, with a minimum payment of 2 percent of the balance, or $10, whichever is greater, it will take you 370 months or just over 30 years to pay it off.
So what is the real cost of that pizza?
During that 30 years of making the minimum payment, you would end up paying more than $4,931 in interest and charges, which is 146 percent more than the original balance on the card, according to an online calculator on credit-card comparison site CreditCards.com.
According to an article at MarketWatch.com, most people are unable to make these calculations themselves. When given a similar calculation on how long it would take to pay off a credit card with just minimum payments, only 2 percent of people were able to answer correctly. Only 4 percent were able to give the correct amount of interest they would pay. And even worse, over 30 percent of respondents thought they would actually be able to avoid paying interest by making the minimum monthly payment.
So don’t take out a mortgage to buy a pizza. Even better, stop using your credit card altogether until you can pay off the entire balance every single month. I am not against credit cards. I am against financial traps that folks get themselves into when they start down the minimum payment path. A great way to break out of that trap is to save $1,000 for emergencies so the credit card is not a temptation when you are out of cash and a need arises.
Originally posted 7/29/2015.
By Chuck Bentley
The author of a best selling investment book that sold over 20 million copies offered a very clever strategy to get rich. In the book, he actually stated that the reason you are not getting rich (like he did or his Dad, who taught him the “right” way to get rich) is that you likely believe an old wives tale…“for the love of money is a root of all kinds of evil.”
His challenge was that you needed to reject this “old wives tale,” because it is holding you back from him a proper mindset. Instead of an old wives tale, he was actually quoting the Word of God, found in 1 Timothy 6:10.
“Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
Paul went on to write the way to be truly rich in verses. 17-19:
“Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.”
That is great advice that will make you truly rich! And by the way, this book (The Bible) has sold far more copies than the pop culture financial advisor has even dreamed of selling.
Originally posted 7/27/2015.
By Chuck Bentley
I recently had the opportunity to meet a young couple who told me their remarkable story.
Both were raised in Christian homes and regularly attended church. When they first met and fell in love, they decided to live together, which they did for four years. At that time, a friend invited them to participate in a Crown Small Group Bible Study. In the study, both realized that they had never fully surrendered their lives to Jesus Christ. They both did just that and more. God’s Word convicted them of their sin in living together, so they got married!
In their testimony, they shared that early on in their relationship they had decided that they never wanted to have children, but today, the Lord put it on their hearts that they should have a big family! I asked what changed their minds about that. They said it was listening to me challenge the cultural thinking that children are too expensive and that they could never afford them. What a joy for me to think that if God gives them children that they are praying for now, it is a result of the power of God’s Word to transform their lives in a Bible study on stewardship. You see, God’s principles change everything. They can even help bring more new lives into the world.
In the five years that the couple has been married, they have served as volunteers with Crown by leading over 15 small group studies in their local church! Maybe there will be hundreds of new children on their way soon!
How about you? Is your life being transformed by God’s financial principles? I certainly hope so.
Originally posted 7/23/2015.
By Chuck Bentley
Political pollster, Ed Goeas, recently said, “Concern over the economy is the highest I’ve ever seen,” He said 72 percent are worried about an economic downturn.
While I hope you are not among those who are worrying about the economy, I encourage you to keep a watchful and skeptical eye on it. My opinion is that these record highs being achieved in the stock markets are built upon sand and are vulnerable to a painful correction in the near term. Don’t panic, but if you are in the 72 percent who likely agree with me, then get prepared.
First, be sure your investments are diversified. In Ecclesiastes 11:2, Solomon advised that the best plan was to divide your portions into 7 or 8 different places. That means you should have no more than 12-15 percent of your investments in the same stock or bond. Get professional advice if you don’t know how to best achieve that.
Second, pay off your debt. This will enable you to avoid all the fear and stress about the future.
Third, be sure you have plenty of cash in savings. I recommend up to 15 months of your current income set aside for the worst-case scenario.
I wrote a book called The SALT Plan: How to Prepare for an Economic Crisis of Biblical Proportions. In my view, it gets more and more relevant every day. When should you prepare? Now. We are not in a crisis and I don’t know when the next one is coming. I do know the economy is distorted by policy makers, so be wise and get ready in the good years for some difficult ones ahead.
Originally posted 7/22/2015.
By Chuck Bentley
Ever think about the financial advice that Jesus gave in Matthew 19 when He encountered the Rich Young Ruler?
* “Go sell everything that you have.” That probably arrested his attention, but there is more.
* “Now go and give it all away to the poor.” That may have caused a mild stroke.
How many financial advisors writing for prestigious financial magazines today are offering this as their best financial advice? Not many that I meet! In fact, the opposite is the case. Most financial advisors make their living by helping people to become rich young rulers, or at least happy baby boomers with a comfortable retirement package.
But Jesus gave this young seeker of eternal life the greatest financial advice ever given because he said one more thing we should not miss in their exchange:
“…and you will have treasure in heaven; and come, follow Me.”
The advice was to rid himself of all that was temporal to gain all that is eternal. And the man went away sad.
Don’t be so quick to judge him as arrogant or foolish. I think Jesus told this story for all of us. We should see ourselves in this picture. Now hear me carefully: Jesus doesn’t require us to get rid of our money and possessions, but He does call all of us to turn from seeking the riches of the world, to seeking Him and His righteousness as our first priority. Many ignore this advice and say it is for somebody with lots and lots of money; it can’t be for me! Well, if you are reading this, you are likely living in the richest nation in the history of mankind.. So yes, it is financial advice for you and me. Come, let’s follow Him!
Originally posted 7/21/2015.
By Chuck Bentley
Luke 16: 11 says, “If then you have not been faithful in the use of worldly wealth, who will entrust to you the true riches?”
God’s Word never calls us to financial success. The Bible emphasizes that we are all to strive to become financially faithful. Success is measured by amounts, by what is in our hand. Faithfulness is measured by devotion, by who is in our hearts.
But God’s Word also calls us to be disciplined.
Second Timothy 2:6 says, “It is the hard-working farmer who ought to have the first share of the crops.”
No garden can maximize its potential without the daily disciplines of the farmer watching over it with skill and knowledge.
In the same way, our stewardship of God’s resources will be evaluated by whether our management was both disciplined and faithful. That means we work hard, rely upon wisdom and knowledge as we make financial choices, and keep our hearts free from serving money by putting God and His Kingdom first.
By doing that, we prepare ourselves to hear those wonderful words, “Well done, thou good and faithful servant! Enter into the joy of your Master.” But it doesn’t end there. If you have been disciplined and faithful, you will be given an eternal job of managing God’s cities. That blows my mind. It also motivates me to be the best steward I can possibly be. So how about you? Grow in your discipline and faithfulness today. Do well now so you will be prepared to hear “well done” then.
Originally posted 7/15/2015.
By Chuck Bentley
If you lie awake at night worrying about money, you’re not alone. According to a report by CreditCards.com, 62 percent of Americans are losing sleep over at least one financial problem.
And even during the day, most Americans worry about money more than anything else. In fact, for many people, worries about money equal those of losing a loved one, according to a report by E*TRADE. And among financial worries, the most concerning was not saving enough for retirement. The research showed that Americans spend 30 percent of their time worrying about retirement funds—even more than personal relationship issues (20 percent) or loss of a job (18 percent).
This is certainly not God’s desire—His Word tells us not to worry about anything! So here’s my advice.
Address the problem head on. Many times we are frozen from taking corrective action. By actually facing the problem and putting a plan in place, you will experience relief from the fear, worry, or doubts that are plaguing you. A plan can actually help prevent the problem you once fretted about, but even if it doesn’t do that, it will help you be ready if one comes.
Next, recognize that all worry is a fearful anticipation of the future. You and I cannot control the future, but God has given us two practical steps to take when worry has gripped our thoughts: First, Jesus said to live one day at a time. That means to keep our thoughts confined to the present. Second, cast your cares upon the Lord. Get on your knees and ask God to give you relief from the burden you are exhausted from carrying.
Now, get some good sleep.
Originally posted 7/13/2015.
…it can only be done one bite at a time.
Over the years, I have known thousands of folks who have become debt free. I have never met anyone who regretted it. True debt is borrowing money that you have no way of paying back. It is debt backed by nothing more than your commitment or integrity. That is debt you want to get rid of first. Here is how you do it.
Take the first bite out of the elephant by saving $1000. That needs to be done before you start paying off any debt. You need an emergency account, which is a cushion to help you stop falling back on credit cards or borrowing from friends, family, or the church. Put $1000 away, even if it is in a cookie jar at home. Save $1000 cash.
The next bite out of the elephant is to pay off your most expensive debt first. That is the debt with the highest interest. That is the debt costing you the most money. If you owe a title lender or a payday lender or any credit account that is charging you high interest rates, get out of that trap as soon as possible! Those forms of borrowing are created to enslave you and should never be used again.
The third bite out of the elephant is to use the money that is now available from paying off the first debt to pay off the next debt.
Don’t forget. Every worthwhile goal you attempt will be met with resistance and obstacles. Pray and ask God to give you patience, endurance, and faith that you will not stop until you are debt free. Ready to go? Take that first bite, then chew, chew, chew until you are free of that elephant of debt!
