By Chuck Bentley

I recently read an article about a cooking co-op. Here is how it works, according to the author, Dee Sarton Bower:

Four families have gotten together to form a cooperative effort to cook for each other Monday through Thursday. They each have a designated day to prepare meals for the entire group.

Dee explains, “What makes our co-op work is that our families are about the same size and we have children with similar appetites. We also have similar lifestyles (busy!) and compatible tastes in food. Since we live on the same block, delivering meals is as easy as loading up the kids’ wagons.”

Dee says that her cooking co-op has helped her save between $200 and $250 a month. Here are some other benefits:

* She spends less time in the grocery store.

* Menus are set up weeks in advance.

* No more last minute expensive, unhealthy fast food meals.

* Your kitchen gets messy only once a week.

* Dinnertime stress is gone.

* Cooking is fun again because you make one special dinner a week instead of daily routine meals.

For those who think this is not possible, Dee says that two or three weeks into your cooking co-op and you’ll wonder how you ever got along without it. Since it began, Dee says she has saved over $15,000 on her food expenses.

Want to learn more specifics? Check out Dee’s article at TheDollarStretcher.

Originally posted 5/26/2015.

By Chuck Bentley

It may not be such a crazy idea.

What exactly qualifies as a “tiny house”? The U.S. Department of Housing and Urban Development defines a tiny house as one that is smaller than 320 square feet. That is about 20’ long by 15’ wide. It is generally hand-built and constructed on a trailer.

So why has this become a booming industry? In most cases, it makes living costs more affordable than buying or renting.

A tiny house generally costs around $23,000 for approximately 186 square feet. The average starting price for a new home in the U.S. is $277,000 for 2,600 square feet. The cost of living in a tiny house is much lower. Electricity, heating, and air all cost less.

ABC News did a recent feature on this growing trend and gave the three main things tiny house owners say that they love best about it:

1. Less time spent cleaning. It takes less than an hour to clean tiny homes.

2. Higher quality of life. Many said that once they shed their “stuff,” their happiness improved.

3. More savings. When you don’t have extra space, there isn’t room for extra “stuff.”

While a tiny home seems like a wonderful investment, there are a couple of disadvantages to this lifestyle, according to the same report. Organization is crucial. If your tiny home isn’t adequately organized—well, don’t try it. Plus, you have to give up a significant amount of your possessions that may be needed later, and the space might not meet your lifestyle needs.

However, if you are in a financial bind, a year or two in a tiny house may be a viable solution for you.

Originally posted 5/21/2015.

By Chuck Bentley

Recent Census data revealed that more than one in four U.S. renters have to use at least half of their family income to pay for housing and utilities.

That’s the finding of an analysis of Census data by Enterprise Community Partners, a nonprofit that helps finance affordable housing. The number of such households has jumped 26 percent due to the Great Recession. The recession pushed more millennials, former homeowners who faced foreclosure, and low-wage workers into rental housing.

Since the end of 2010, rental prices have surged at nearly twice the pace of average hourly wages, according to data from the real estate firm Zillow and the Labor Department.

Just as buying too much house can strain your budget, so can paying too much rent. To avoid the trap of ever rising rental costs, here are some tips:

1. Consider negotiating a longer-term lease agreement if you are a “permanent” renter.  Landlords like security. Ask for better terms for a longer lease.

2. Ask for a discount on your rent if you can prepay two months at a time even up to one full year. The landlord doesn’t have to worry about collections and you get a lower rental rate.

3. Downsize your apartment or home if your rent is greater than 25 percent of your net spendable income. Better to have a smaller space than the stress of the financial bondage.

4. Consider purchasing a “tiny home.” I know it may seem crazy, but these units have allowed many people to live debt free and recover financially. They also allow you the flexibility to take your housing with you if you need to relocate.

Originally posted 5/19/2015.

By Chuck Bentley

“Graduates across the country need to make plans to avoid a debt that may never go away,” advised Crown CEO Chuck Bentley. “Winning the ‘Game of Loans’ is possible, but too few achieve that victory.” Today, seven in 10 graduating seniors at public and private colleges have student loans, totaling about $30,000 per student. And while many people don’t know this, bankruptcy is generally not a get-out-of-jail free card when it comes to education.

“Just like home values collapsed when the housing bubble burst because loan amounts and home values didn’t match up, more and more graduates find that they can’t find jobs to pay for the degree they earned,” said Bentley.

For help with making a plan for a debt-free degree or at least minimum loans, Crown launched a special website for students, parents, grandparents, or anyone who wants to invest in a graduation gift that lasts a lifetime. We have a number of online resources and unique job-finding tools. Crown offers everything from strategies for graduating debt free from college, to Career Direct skills planning, to an outline for job seekers found in Robert Dickie III’s The Leap: Launching Your Full-Time Career in Our Part-Time Economy.

One of the best ways to avoid a frustrating career and save thousands of dollars in college expenses is to choose your major wisely. Bentley noted that Career Direct was developed over almost 20 years to identify a person’s passions and strengths to direct people to fields of study and better options for job seekers.

“Considering the hours you will spend at work, isn’t it worth it to spend more time really thinking about what you were uniquely created to do?” asked Bentley. “Just like building a good marriage comes from really understanding and supporting another person, building a successful career begins with understanding who a person really is and what motivates him or her.”

Consider this recent report: “About 80 percent of students in the United States end up changing their major at least once, according to the National Center for Education Statistics. On average, college students change their major at least three times over the course of their college career.”

“A lot of money is wasted as people play the ‘Game of Loans,’ wandering through expensive classes only to discover that they don’t really like where their career is going,” said Bentley.

To learn more about earning a debt-free degree, developing a career based on your passions, and mapping creative employment options, visit Crown here.

Originally posted 5/15/15.

By Chuck Bentley

Worry, stress, and financial bondage can destroy our peace and take control of our lives. We all want to find peace, but how do you achieve it when it seems impossible in your current circumstances?

Jesus said in Matthew 6:24:

“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”

In this passage, we are given a choice to make… whom we will serve. The root issue is to determine our true Master and serve Him only. When we choose to serve God, a conflict in our heart is resolved and we experience peace that money can’t give.

Never fall into the trap of believing that peace comes from our financial condition. Budgets may give us order and reduce stress, but the underlying tension is who has Lordship of our lives.

I made this choice in 1999. I confessed that money had been my true Master and I repented and asked God to forgive me of my idolatry. I then determined that Christ would be on the throne of my heart in all my financial decisions. Peace flooded my heart, mind, and soul. On a practical level, I began to make decisions to re-order all my financial strategies from man’s economy to living in God’s economy.  My finances are improved but more importantly, peace has ruled my heart. You see, I had a heart problem that had to be solved so money could never rob me of peace again.

Originally posted 5/13/2015.

By Chuck Bentley

According to Blackrock, the world’s largest investment firm, if you are married, the decision of when to collect Social Security benefits is more than just a question of longevity. You may be able to switch between individual, spousal, and survivor benefits throughout your lifetime in order to maximize your Social Security income. Although each couple’s situation is unique, you may receive higher lifetime benefits by adopting one of the two simple strategies.

Both strategies involve “filing and suspending” at Full Retirement Age (or FRA, the age at which Social Security retirement benefits are equal to the Primary Insurance Amount, or PIA). This strategy, also called filing and deferring, allows you to file for Social Security retirement benefits, but defer your checks to a later date.

Once the higher earner files and suspends at FRA, his/her spouse is able to collect spousal benefits immediately. This strategy may allow the lower earner to collect spousal benefits earlier while letting the higher earner maximize his/her benefits. The strategy also has the potential to boost survivor benefits.

Your FRA is determined by when you were born. If you were born after 1954, then your FRA will be later than age 66. For instance, I was born in 1957, so my full retirement age according to the Social Security Agency is 66 years and 6 months. You can find your FRA at www.ssa.gov/pubs/ageincrease.htm.

For many, Social Security benefits are an important portion of your retirement income. It is only wise to develop a strategy to be the best steward of the resources you have set aside for your future needs.

Originally posted 5/12/2015.

By Chuck Bentley

Reports show that only about 8 percent of all Christians in the United States actually tithe (give 10 percent of their gross income to the church). Today, I want to challenge you to begin this practice. Before you roll your eyes and say it is impossible or accuse me of legalism, listen to my argument.

Many argue that the tithe is an Old Testament law that has no relevance. In Leviticus and Malachi where the tithe is discussed, it is presented as an opportunity for blessing or loss of blessing. It is not presented as a punishment. I don’t believe we are required by God to give; I do believe we are instructed by God that is it best for us to give.

The tithe is an expression of our commitment to God and His principles. To say that I believe God, trust Him as my provider, want to follow Him, and yet do not honor Him with a small portion of my income is contradictory. We need to give. It reduces our greed, selfishness, and materialistic desires. It brings us untold joy now and for eternity. It makes us better people. Our significance on earth is determined by what we give, not by what we gain. We spread the aroma of Christ, the goodness of God by giving to others. We show we are sincere when we love God with all of our heart, mind, and body.

So is your financial condition preventing you from tithing? Then change it. Get on a plan to make giving 10 percent to God’s work your #1 priority. Your bucket list should not be to run a marathon, visit your favorite country, or attend a concert of your favorite musician. It should be to begin to tithe. If you desire it with all your heart, you will put the steps in motion to make it happen. Go for it. It will be a decision that pays dividends in unimaginable ways now and for eternity.

Originally posted 5/7/2015.

By Chuck Bentley

Purchasing a home is typically the largest financial investment any of us will ever make. It helps to follow a checklist of precautions to be sure you do not make a mistake.

First, be sure you can really afford it. Determine how much you can put toward a down payment to avoid PMI—or private mortgage insurance. This normally means a 20 percent down payment. Next, include your costs for moving, utility deposits, window treatments, insurance, taxes, and maintenance. Add those costs to your out-of-pocket expenses. Be sure you still have enough in cash reserves after the purchase. Also, be sure your mortgage payment is not greater than 25 percent of your net spendable income (your gross income minus tithe and taxes). Also carefully consider all additional costs associated with home ownership: utilities, homeowner’s insurance, association fees, property taxes, maintenance, and so on.

If you can afford the home, it’s time to start pre-qualifying for low-cost financing. Shop for the best mortgage rates. Use bankrate.com to get educated on all the options and mortgage rates. Be cautious here.

Once you find the home you are interested in, before making an offer, do some serious investigation of the neighborhood. You need to know about crime rates, traffic or noise issues, future zoning plans, and the quality of the schools in the area. You can find lots of this information online, or visit the county planning office. Also, ask the seller for 12 months of past utility bills. You want to check the cost of electricity, gas, water, trash collection, and even security monitoring. This will give you much needed information before you decide to go forward with the offer.

If everything checks out, make a written offer on a contract in which you clearly understand all the terms and requirements. Everything should be spelled out in writing. Always make your offer contingent upon an inspection. Pay for a highly reputable inspector to check the property for termites, structural damage, potential high cost repair on appliances, the foundation, plumbing, and the roof.

Remember that it is the major purchases we make that often cause us the most challenges to our budget. Ask God to give you wisdom and peace before you purchase your home.

Originally posted 5/4/2015.

By Chuck Bentley

In Mark chapter 10, a man known only as the Rich Young Ruler, ran to Jesus, knelt before Him, and asked Him what he must do to inherit eternal life. When Jesus explained that he must obey God’s law, the young man replied that he had lived up to those requirements. In other words, his heart was not broken by his inability to keep the law. So Jesus, having compassion on him, gave him further advice.

“One thing you lack: go and sell all you possess and give to the poor, and you will have treasure in heaven; and come, follow Me.”

Jesus moved from his spiritual advisor to his financial advisor. He addressed the issue that was most dear to the Rich Young Ruler’s heart.

The Bible records his response.

“But at these words he was saddened, and he went away grieving, for he was one who owned much property. And Jesus, looking around, said to His disciples, ‘How hard it will be for those who are wealthy to enter the kingdom of God!’”

Jesus either gave this young man the worst financial advice ever recorded or the best. We must decide in our own hearts if Jesus is worth everything we own. That is not so hard for the poor, but it causes a great challenge to the wealthy.

While we are not all called to sell everything and give it away, we are all called to see God as the owner of all that we have and are required to be responsible to Him for our faithful management of His possessions. If we refuse His leading with our financial decisions, we too are like the Rich Young Ruler who refused to listen to Jesus’ financial advice.

Jesus expects to be first place in our hearts; if He is not, money is still in control of our lives.

Originally posted 4/23/2015.

By Chuck Bentley

Clark Howard recently shared some helpful information about how to protect your personal information if you use Verizon for your mobile services. In the past, Verizon tracked everything you did on your phone. From an email, to the pages you visit, they collected a data-rich summary of your activity and were able to sell it to marketers. This has been referred to as a “Super Cookie,” which is simply an electronic tracking method attached to your phone.

Verizon is finally giving in to media pressure and abandoning their Super Cookie Tracking. If you are a Version user, here are a few ways to opt out and protect your privacy.

* First, try calling them at 866-211-0874 to opt out. Hopefully that will make it quick and simple.

* Another method is to go to the Verizon Customer Privacy Settings page at https://www.verizonwireless.com/myprivacy/. Log in to your Verizon account on that page. There are three radio buttons on that page to select in order to opt out:

1. Customer proprietary network information settings (billing and related telecommunications services information about you).

2. Business and marketing reports (browser history, location information, apps and features usage).

3. Relevant mobile advertising (targeted demographic-based advertising delivered to your phone).

Select the negative response radio button (“Don’t share,” “Don’t use,” and “No, I don’t want to participate in…”) for each of the three categories. Click Save Changes. Scroll through the page to ensure the proper radio buttons are still selected.

If that doesn’t work, think about a new mobile service provider. In today’s world, our personal information is being collected in thousands of ways. Marketers and government agencies alike are using it. It may seem like a small thing now, but our privacy is ultimately an important aspect of our freedom. We need to protect it as much as possible.

Originally posted 4/22/2015.