Dear Chuck,
The most recent New York abortion legislation is appalling; but besides being morally wrong, won’t a population decline hurt our economy? This seems like a bad direction for us all.
Concerned American
Dear Concerned,
Your concern is well placed. Yes, the long-term economic consequences of abortion are bad for everyone.
New York State’s Reproductive Health Act, which allows late-term abortions performed by “health-care practitioners” when the “patient is within 24 weeks from the commencement of pregnancy, or there is an absence of fetal viability or the abortion is necessary to protect the patient’s life or health” is a tragic legislative decision. Not only is it a moral disaster, but the collective consequences will also have far-reaching effects on our national economy. And it is coming at the worst possible time.
Birth rates are falling around the world and not just because of abortion. Fertility rates around the world have been dropping and The World Bank and others are becoming acutely aware of the troubling trends. Birth rates in Asia, Europe, Russia and Latin America have been plummeting.
The “total fertility rate” (TFR) in the United States, the number of children the average woman will have in her lifetime, dropped from 2.12 in 2007 to an estimated 1.76 in 2017. That is less than the replacement level of 2.1 and less than half of the 1960s number of 3.7. We are approaching the birth rate of the Chinese where they are currently experiencing a 60 year low in TFR. They are concerned too:
“China should not only fully relax the family planning policy, but also introduce policies to encourage births,” said demographer He Yafu. “Long-term low fertility rates will bring a series of negative effects on the economy and society, leading to the increasingly serious aging of the population, a decreasing labor force and a higher dependency ratio.”
My friend, Jerry Bowyer, wrote an article for Townhall Finance notes a similar concern:
A very low birth rate is economic death in the long run, but a country can run an economy without babies pretty well (not counting toy makers) for a while. Debt is a big long-term problem. Japan is brittle because of debt. Eventually there will likely be a reckoning, a horrible one, with a full-blown debt crisis and a nation filled with nursing homes unable to work its way out of it.
Jerry and other experts see the writing on the wall. Analysis from Thomas Lee, at Fundstrat.com reveals that America is expected to have a shortage of 8.2 million workers over the next decade.
With too few people adding to the GDP, who is going to fund pension plans, pay into Social Security, support the elderly population, or work in the healthcare industry? The diaper industry will be spared immediate pain by reducing the production of baby sizes and increasing production of adult sizes. For a few years, I’ve been taking Cialis just during my intercourse, and not on a daily basis or anything like that. I started with a 5 mg, then moved toa 10 mg and finally, I require the full 20 mg to receive more satisfaction. The effects are conclusive, but I suppose I can’t go back now and simply resume a normal sexual activity. Honestly, I’m too lazy to think it out ahead since I’m happy with what I have. My doctor tells me it’s all in my head, though.
Toys “R” Us closed reportedly due to debt, rising labor costs, and the inability to compete with Amazon, Walmart, and Target. But, they also offered this chilling reason:
“Most of our end-customers are newborns and children,” the company explained in a recent financial filing, and “as a result, our revenues are dependent on the birth rates in countries where we operate…. In recent years, many countries’ birth rates have dropped or stagnated…A continued and significant decline in the number of newborns and children in these countries could have a material adverse effect on our operating results.”
Andrew Van Dam, of the Washington Post, commented,
And that’s why the company’s demise should worry the rest of us. Toys R Us focuses on kids, so it’s feeling the crunch from declining birth rates long before the rest of the economy. But it’s just a matter of time before the trends that toppled the troubled toy maker put the squeeze on businesses that cater to consumers of all ages.
Interestingly, Toys R Us donated money to Planned Parenthood, an organization that may have helped put them out of business.
When Jerusalem was taken into Babylonian exile, the people were troubled and confused. As refugees, their circumstances were dire: no money, no job, and no hope for the future. But, Jeremiah directed: Take wives and have sons and daughters; take wives for your sons, and give your daughters in marriage, that they may bear sons and daughters; multiply there, and do not decrease. (Jeremiah 29:6 ESV)
God gave them clear instructions to marry and have children, knowing that their lives would be blessed by trusting Him and faithfully following His plan. The Scripture records that they were able to prosper greatly, even in captivity, while increasing and multiplying the size of their families.
In the past one hundred years, our culture has flipped from one of large families in small houses to small families in large houses.
It requires faith to trust Him when the world constantly bombards us with contrary information. Overpopulation, mass starvation, and the terrible expense of raising a child are all lies against God’s plan to bless us as we raise the next generation of stewards to care for the Earth and its vast resources. Without people, there is no economy.
The cries for the freedom to abort a child – right up to weeks before birth – is a prime example of man “doing what is right in their own eyes” (Judges 17:6).
It is time for us to speak out about the love and joy – the true riches that money cannot buy – that we experience within our families.
Children are the future ambassadors for Christ and believers have the awesome privilege of raising them for His glory.
Parents, if you are weary, humbly seek help. Grandparents, aunts, and uncles, come alongside and assist as you are able. It’s a difficult world to navigate, and your wisdom and experience are needed and treasured.
We must give what we can to help God’s people be fruitful and multiply. When families grow and are strengthened, we are all beneficiaries of God’s true riches.
Originally published on the Christian Post, February 8, 2019
Dear Chuck,
Every time I shop for something online, I see ads pop up about the item I was looking for and sometimes I even get emails trying to get me to buy it. This is spooky to me. I feel like I have lost my privacy as a shopper. Will “Big Tech” help our lives or bring destruction? Any advice?
Spooked
Dear Spooked,
You are correct; we’re being tracked. Unfortunately, it’s become a reality that we cannot avoid unless we want to learn to live off the grid. That would require us to stay offline, provide our own energy, stop using a smartphone, refuse credit cards, and learn to live off the land. Realistically, this is not an option for most of us.
Money drives the tracking. “Big Tech” companies and their executives have become very rich and very powerful: think Amazon, Facebook, Google, and Microsoft.
For now, we can minimize their following by using a VPN, avoid Google or Facebook, and apps with built-on analytics and trackers. Check out Little Snitch or Micro Snitch – security apps that monitor microphones and cameras. I also use DuckDuckGo when searching the web. But, truthfully, most of the trackers have a significant amount of our personal information already.
It is our responsibility to stay informed, and inform others as we glean information. These privacy tips can minimize your exposure.
Cookies are saved in your web browser, the software program you use for web access (Safari, Firefox, Chrome, etc.). Different websites may store your information so they can recognize your device in the future and keep track of your visits over time in order to customize your browsing or deliver ads (yes, even emails) targeted to you.
The Federal Trade Commission provides more information.
Consider these massive developments throughout recent years that represent the growth, and even merging, of Big Tech, Big Data, and Big Brother:
We are well beyond the point of ignoring the problem and hoping it will go away. I like the way David Samuels recently explained the information revolution in which we are living:
The information revolution spurred by the advent of digital technologies may turn out to be even more powerful than the Gutenberg revolution; it is also likely to be bloody. Our inability to wrap our minds around a sweeping revolution in the way that information is gathered, analyzed, used, and controlled should scare us.
The result has been the creation of a socially toxic vacuum at the heart of American democracy from which information monopolists like Google and Facebook have sucked out all the profit, leaving their users ripe for top-down surveillance, manipulation, and control.
Throughout the ages, there have been threats to the people of God, but believers have the advantage. Our King is sovereign and nothing can thwart His perfect plan. Faithful and true, He’s our Anchor in the storm, our Fortress, and Deliverer. We can avoid fear by trusting Him.
Read widely, discuss the topic with informed individuals, be alert, build and maintain a strong network of believers, heed red flags, and remember God is in control. There is no need to be paranoid, just careful and aware.
Is Big Tech Merging With Big Brother?
Artificial Intelligence news at Nextgov
Originally published on the Christian Post, February 2, 2019
Dear Chuck,
The bills have arrived and reality has hit. We splurged at Christmas and failed to keep track of everything we bought. We know now! Can you share some tips on paying off holiday debt and how to avoid ever doing this again?
Pay! Pal
Dear Pay! Pal,
It is easy to get caught up in the spirit of giving and take advantage of easy credit. In the joy of the season, many people completely forget that bills will eventually arrive. That can be painful, especially when spouses don’t communicate about finances.
You’re one of many Americans with Christmas debt. MasterCard Spending Pulse reported that U.S. sales climbed 5% between November 1 and December 24 compared to last year. U.S. consumers spent more than $850 billion this holiday and used more credit than previous years. The amount of interest some people pay on borrowed money is the largest expense in their budget and the biggest source of financial stress.
For believers, this is an opportunity to learn to trust God like never before. With dedication and determination, you can pay off your debt and avoid the “plague” of Christmas debt next year.
In a private journal between you and God, write down the total amount of money you owe. Describe your circumstances in detail, expressing all of your fears, worries, and doubts. Communicate your willingness to trust Him, your need for faith to trust Him more and for strength to responsibly pay off the debt.
Psalm 37 tells us to trust in the Lord, to delight in Him and to commit our way to Him. Pray in eager anticipation of what He will do as you humbly bring your requests before Him. Resolve to agree with Habakkuk, I will rejoice in the Lord; I will take joy in the God of my salvation. (Habakkuk 3:18) Knowing He is with you, in and through this, is reason alone to rejoice!
Not let me give you the practical, strategic method to get rid of this debt and stay out of it for good.
This is a method that keeps you motivated. If you carry balances on several credit cards and any additional debt, this may work for you.
List all your consumer debts – everything except your mortgage, from smallest to largest. Make minimum payments on all your debts, but put any and all extra money towards the smallest debt. Once you pay off the smallest one, apply the freed-up payment to the next largest balance, and so on until all loans are paid off. By starting with the smallest debt, the hope is that you’ll be able to pay it off quickly and find encouragement to continue down your list.
We have a free calculator you can use to create a payoff plan (no math required!). Our 5 Steps to Debt-Free Living Mini Video series is also a great resource if you want to understand more.
The drawback to this method is that your highest interest rates may be your largest debt and accumulating during this period. If so, the next method may be your best choice.
Optional Plan – Use the Debt Avalanche Method
Instead of starting with the smallest debt and working up to the largest, this method has you organize your debts from the highest interest rate to the lowest and attack the loan with the highest rate first.
Just like the snowball method, continue to make minimum payments on all other debts and rollover what you were putting towards the first debt until they are completely paid off. This method saves you money in interest.
Debt is a symptom of a deeper issue. If you just pay off your bills without addressing the cause, you’ll end up back in the same place in a few months or years. I’d encourage you to enroll in a Crown study, like this one. You will gain knowledge, accountability, and encouragement.
Another great resource, especially if you’re struggling with overwhelming credit card debt, is Christian Credit Counselors. They specialize in credit card debt and have helped many families get out of debt.
Our gift giving was held in check this year by drawing names on a website called Draw Names – a Secret Santa generator. We set a price limit and had a great time focusing on one person. But gifts were only a small part of our Christmas. We cooked and did dishes together, played games, told stories, laughed, and prayed blessings over our family.
Ask Him to give you the focus and self-control you need. You have 11 months to be disciplined and prepare for a debt-free Christmas in 2019. If you can only make small monthly payments, do it. God can multiply your efforts. Consistent small steps, hard work and sacrifice will lead you to your final destination and put in motion new habits that will impact you for a lifetime.
You will learn from this and be used to help others. When you’re no longer a slave to your lender (Proverbs 22:7), you won’t ever have to wonder how you’re going to pay, pal!
Originally posted on the Christian Post, January 25, 2019
Dear Chuck,
I’m inspired when I meet people who have the capacity to live “high on the hog” but choose to live surprisingly simple lives. Many young people in my church are carrying student loans, while buying new cars, and more house than they need. How are they ever going to get ahead and become productive stewards for the Kingdom?
Concerned about the Next Generation
Dear Concerned,
Let’s shift the focus of your question off of the next generation and deal with your concern through a much broader lens. ALL people need to learn to become productive stewards for God’s kingdom. The Bible makes it clear that no one is exempt from responsibility to be faithful with what God has provided, whether it is a lot or a very little.
One of the most important things all of us need to know is how to spend less than we earn. Credit has become easily available and an assumed part of life. Many people, young and old alike, often don’t understand the benefits of hard work and of putting their proceeds to work for them. They are often living in ignorance of Scripture, too busy working to slow down to think and plan. Others are simply caught up the trap of trying to find peace and joy through possessions.
Man is meant to work and to glorify God in his efforts. Joy in our labor grants deep satisfaction, a financial reward, and the means to bless others. Couple that with wise stewardship and it has deep, eternal impact. We need to be trained to know and apply God’s Word and have the inspiration of great examples to follow.
Although I don’t know them personally, I recently read of two men who turned their early work efforts into major companies by living modestly and keeping their tastes simple. They are fulfilled in their work and give generously.
Jim Pattison, a Canadian self-made billionaire, operates his C$10 billion empire in 85 countries. At the age of 90, Pattison currently oversees a string of John Deere equipment dealerships. He drives his pick-up across the Canadian prairie to drop in on different holdings, keeping a sleeping bag and pillow in the back seat in case he can’t find a motel.
Born during the Great Depression, he wore hand-me-downs and held many different jobs. In 1961, he purchased a Pontiac Buick dealership with a C$40,000 Royal Bank of Canada loan that exceeded the branch’s lending limit fivefold. He still has the handwritten financial statements from that first year and claims his favorite job was selling used cars.
Extremely private, he intentionally avoids email and rarely checks his cell phone. He gives his managers lots of freedom but demands results. Pattison is known for his deceptively thrifty nature, modest lifestyle, fondness of cheap meals at McDonald’s, and off-the-rack clothes. When asked if he ever takes vacations, he remarked, “Well I get 365 days. If you like your work, it’s not work.” Pattison is often dubbed Canada’s Warren Buffett.
Warren Buffett, worth over $80 billion, lives in the same house he bought in 1958 for $31,500. When his first child was born, he converted a dresser drawer into a sleeping space and borrowed a crib for the second. This was the humble mindset for the man who built Berkshire Hathaway.
Buffett earned money different ways when young, started a pinball machine business with a buddy in high school, sold it and started another. Along the way, he learned how to make money and save it.
Buffett has seen a lot of people fail “because of liquor and leverage.” He advises to only borrow what you need at a low, fixed rate then pay it off as soon as you can.
Buffett doesn’t describe himself as frugal. He buys cars at reduced prices and drives them a long time. He enjoys hamburgers, ice cream and Coke and has been known to use coupons at McDonalds. He refuses to splurge on wallets or designer suits. Even his hobbies are inexpensive – reading, playing bridge, and strumming his ukulele.
Work as unto the Lord
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. (Colossians 3:23-24)
Guard Your Heart
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. For where your treasure is, there your heart will be also. (Matthew 6:19-21)
Give
Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver. (2 Corinthians 9:7) As Jesus said, “It is more blessed to give than to receive.” (Acts 20:35)
Be Thankful
Rejoice always, pray without ceasing, give thanks in all circumstances; for this is the will of God in Christ Jesus for you. (1 Thessalonians 5:16-18)
More important than simply becoming better with your finances is to be sure your heart is faithful to serve God’s purposes. Biblical stewardship is not ordering your life in such a way that you can spend money however you want; Biblical stewardship is ordering your life in such a way that God can spend you however He wants.
Originally published on the Christian Post, January 18, 2019
Dear Chuck,
I read an article recently about how many Americans live paycheck to paycheck and question how many really have to live that way. I don’t want to be calloused, but I wonder if they just need to be told to “Grow up!” Doesn’t the Bible tell us not to live that way?
Financially Secure
Dear Financially Secure,
I hear you, but the Bible not only gives us a better way to live, it also tells us not to cast stones!
Unfortunately, I am all too familiar with people caught in the paycheck-to-paycheck trap for multiple reasons. But compassion is so important because many are there due to circumstances beyond their control, including tragic health issues, job loss, unwanted divorces, and basic financial illiteracy.
A 2016 report by the U.S. Federal Reserve stated: “A key consideration regarding household finances and overall economic well-being is the ability to withstand financial disruptions.” A lack of emergency funds is the onset of financial suffering for many. With little or no margin, an unexpected expense or loss of income throws their finances into chaos.
A 2017 report by the U.S. Federal Reserve revealed the following issues that contribute to the paycheck-to-paycheck problem.
There are emotional stories of those living paycheck-to-paycheck, but, like you, I question how many are willing to change their lifestyles, to adjust priorities, and make some sacrifices to protect themselves from financial disaster.
People rely on debt because it’s easy and “everyone” does it. It is certainly easier to buy a new car with low-interest rates than saving to pay cash. After all, saving means you have to forfeit (or postpone) a bigger house, the latest fashion, a new phone, or eating out; but easy is ultimately the more costly option.
In the long-term, sacrifice has its rewards, and it isn’t all that painful once the decision is made to take control rather than letting the world dictate how to spend money. Learning to discipline oneself eventually becomes habit, and a way of life. Before long, the thought of carrying consumer debt becomes ridiculous.
I think most people who are experiencing the overwhelming burden of carrying credit card debt would tell you the small sacrifices upfront are worth it. By the way, if you’re dealing with overwhelming credit card debt, contact Christian Credit Counselors. They can help!
The trick is to develop a mindset of tight control over your income. With a budget in place, progress can be made toward getting people off the financial cliff so they CAN withstand financial emergencies.
Self-control, accountability, hard work, living contrary to the rest of the world, and ignoring the availability of credit are some basic steps I recommend to anyone wanting to become financially secure.
Learning to wait is a great discipline. Pausing and praying for a need allows us to see God provide. Credit robs us of that blessing. Just this week I saw God provide a car for one of our employees in a gift that far exceeded their dreams. It will impact their family for years!
God wants us to be good stewards of what He provides for our good and for the benefit of others.
We are living examples of His goodness and offer hope to the hopeless. When we manage our finances the way He tells us, we have the freedom to live out our purpose and glorify Him in the process.
Dr. Anne Bradley, with The Institute for Work and Economics summarizes this beautifully:
Good stewardship leads to flourishing, which is characterized by well-being, thriving, and abundance. It is the way God created all things before the fall, as well as what he will restore when Christ returns. In the parable of the talents, Jesus teaches that everyone is to maximize the gifts that he is given in order to contribute to the flourishing of the world (Matt. 25:14-30).
…Each of us is created uniquely by God to contribute something to his kingdom. We have a special opportunity to use our particular interests and abilities to do something significant.
This larger view of stewardship encompasses every aspect of life. That job that one takes, where you live, how many children you have, and where you send your children to school all involve stewardship. Those options require us to make choices with our scarce resources, as each tradeoff presents us with a cost and becomes part of the calculus of stewardship. Our efforts can bring delight to us and to the Lord and allow us to serve the common good.
So let’s not disparage those who are struggling to make ends meet. Let’s work to help them discover and understand that God has a better way. Ultimately, we not only want to see them get out of the pain and stress of living paycheck to paycheck but to be prepared to stand before the Lord and hear Him say, “Well done, thou good and faithful servant. Enter into the joy of your Master.”
Originally published January 11, 2019 on the Christian Post
Dear Chuck,
Well, we went a little crazy this Christmas…the kids all love their presents but my husband and I are realizing how much we really spent. Our credit card statement hasn’t come in yet but I know we are going to be in for a rude awakening. What can we do to start paying off our Christmas debt?
Starting 2019 Off the Wrong Way
Dear Starting,
You are finding yourself in the same position as many others that went overboard in December.
One Saturday in the weeks leading up to Christmas, my wife and I found ourselves in the local mall. Apparently, it was the busiest day of the entire year to be there. This is not a usual practice for us but we had to get a few things finished for the grandkids. While waiting for my wife to run into a children’s store, I sat in one of those recliners that require money for a back massage. Next to me was a young man in his twenties waiting as well. We struck up a conversation.
Me: “What brings you to the mall today?”
Him: “My gal…my girlfriend…she wanted to do some shopping.”
Me: “Are you excited about Christmas this year?”
Him: “Oh yeah! We are planning on a big-time Christmas!”
Me: “Do you think you can pull it off without any debt?”
Him: “Ha! No way!”
My informal survey is probably a typical scenario for most. The average American racked up $1,000 of debt because of Christmas. Paying the minimum payment on that balance will take the borrower an average of six years and cost around $500 in interest payments. That’s why Proverbs says the borrower is slave to the lender.
But don’t worry – there is hope and you can pay it off! It will take disciplined hands and a faithful heart but you can still have a bright financial future for 2019. Here are the three steps you need to take:
Debt is borrowing from tomorrow to pay for today. You’re experiencing what can quickly turn into crippling anxiety, fear, and stress caused by debt.
The best way to pay off your current debt and avoid it in the future is to make a budget. A budget empowers you to know exactly where your money is going and helps you reach your financial goals. When you use a budget, your money starts working for you, not the other way around. Contrary to popular opinion, it doesn’t limit your spending, it gives you freedom to spend…the right way.
The first step is to start tracking your spending. Of course you can identify the overspending that occurred over Christmas, but you may be surprised to see what you’re actually spending on other items throughout the year.
Tracking your spending will help you identify where you can cut back on spending in order to build margin for your finances and make extra payments toward getting out of debt.
This blog walks you through the steps to making a budget that works for you. You can also download the Easy Guide to a Budget You Love to get started.
It may seem counterintuitive, but you have to save your way out of debt.
Think about it: most people get caught up in the debt trap because they don’t have cash to cover the purchase. Building an emergency savings will help you take a step away from the edge of the financial cliff and give you margin.
Until you have at least $1,000 saved in an emergency account, you’re still at risk to accumulate more debt. Work this goal into your budget. If it seems daunting or overwhelming, just think of it in small “chunks”. One thousand dollars is just ten hundred dollar bills.
It will likely require a lifestyle change but you can do it and it is worth it! Remember that this is all part of a journey of becoming a faithful steward.
Once you have a stable emergency savings account, it’s time to attack your debt! I have two main recommendations here:
Continue making minimum payments on all your debts and then put all extra cash you have towards paying off the smallest debt. Once it’s paid off, you “rollover” what you were spending on it to the next smallest debt, and so on. It’s proven to save you time and money. The debt avalanche method is similar and also effective. We have a free debt snowball calculator you can use to get started!
I always say that if we only help people get out of debt, we have failed. Our finances are so intimately tied to our relationship with our Heavenly Father and there’s no way to separate them. Look at this season of your life as an opportunity to draw near to Him and learn what His word says about money. Invite the Lord into your finances by studying His principles and learning to use them as your guide.
You could be completely debt-free and still miss the call God has on your life. Learn to be a faithful steward and allow Him to guide your life, not just your finances. When our hearts are faithful to obey God and our hands are disciplined with managing well what He has provided, we are on the path to freedom and true riches.
As you start on this path in 2019, you will find that the Lord delights in easing our burdens and bringing us life to the full. Christmas is a wonderful time to celebrate His birth, to be generous with our loved ones and to enjoy the greatest birthday party in the history of the world, but we do not have to go into debt as a result. Set a goal not only to pay off your 2018 Christmas debt, but to pay cash for Christmas this coming December. Then it will truly be a much merrier Christmas.
Originally published on the Christian Post, January 4, 2019
Dear Chuck,
My husband and I desperately need to get a handle on our money next year. What are some of the most important things we should do? We have struggled to keep our New Year’s Resolution beyond February.
New Goals in the New Year
Dear New Goals,
Struggling to set and keep goals is common! I commend you on having goals in the first place because many in our nation don’t even make it that far. God’s Word tells us that we can overcome the challenges of unmet goals.
Years ago, I struggled to cut back on my sugar intake. I was as frustrated about that challenge to my health as you are with your financial challenges. So January 1, my resolution was to eliminate sugar from my diet. This meant no desserts, no candy bars and no sweeteners in my coffee. Each day, I had to learn to say no to what I wanted (sugar) so that I could get what I needed for tomorrow (better health).
To keep going, I renewed my resolution each morning and kept it up each day for the entire year (and for the next 14 years after that)! In fact, this small victory helped me learn to become disciplined in many other areas of my life.
Remember this, if you can be disciplined in just one area of your life, you can learn to be disciplined in all areas of your life, but it must start with one. For you, that means learning to set a financial goal and keep it one day at a time. If you do this daily for a long period of time, you can and will achieve far more than you ever dreamed could be accomplished.
You ask and do not receive, because you ask wrongly, to spend it on your passions. (James 4:3)
Two are better than one, because they have a good return for their labor. (Ecclesiastes 4:9)
Commit your work to the Lord, and your plans will be established. (Proverbs 16:3)
But the fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, self-control; against such things there is no law. (Galatians 5:22-23)
The ultimate purpose of our financial goals should be that our lifestyles glorify God. Discuss with your spouse how you want your lives to glorify the Lord in 2019. Your goals will take on much greater meaning than simply struggling to keep your head above water. Knowing the “why” of our plans helps to keep us motivated.
Good intentions become a plan only when they are written down and acted upon. Put your spending plan on paper (or in a spreadsheet) to view the state of your finances more clearly, determine what you want to achieve in 2019, and know that faithful steps will become lifelong habits. Here is the step-by-step plan I recommend, in order of priority.
Here are some practical tips to achieving your 2019 goals:
Allow a month to learn and establish healthy financial habits. A 30 Day Reset can help you on your journey. Goals will morph over time, so following the SMART (Specific, Measurable, Achievable, Relevant and Time-bound) acronym is helpful when making yours.
“Wishful thinking” can become reality when Biblical financial goals are implemented. As Solomon said, The plans of the diligent lead surely to abundance… (Proverbs 21:5a)
My prayer is that you have a guide to get started on the road to financial freedom in the New Year. As you make progress, remember that the true riches the Lord wants us to have are not stored in our bank account.
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. For where your treasure is, there your heart will be also. (Matthew 6:19-21 ESV)
Originally published on the Christian Post, Decmeber 28, 2019
Dear Chuck,
If I had a nickel for every argument my wife and I have had about money, well…we probably wouldn’t argue about money! Can you help us get on the same page? We can’t even build a budget together, much less get out of debt.
Financially Frustrated With My Wife
Dear Frustrated,
Thanks for writing me. I saved your question for today since this is the day my wife and I are celebrating our 40th wedding anniversary. Our personal story as a financially dysfunctional couple is relevant to your question, so bear with me as I give you some lessons that I have learned.
We struggled for the first 21 years of our marriage to make any real financial progress, although it was not for lack of hard work or effort. We both tried, but it was the one area of our lives that we could not get united. Ann, my wife, had her beliefs about money and I had mine. We did not agree with each other, so we muddled along, frustrated and stuck. It was painful and threatening to our marriage.
While I can understand that you are frustrated with your wife, she is also likely very frustrated with you. Satan has probably caused the fights to wound each of you and prevent the very thing that needs to happen from occurring; which is for the two of you to begin to manage this problem together, united as one and working as a team.
My wife and I have polar opposite personalities and for years I believed this was a disadvantage. I am extroverted; she is introverted. I like risks; she likes security. I like to talk; she likes to quietly think. I like to dream big; she likes detailed planning. The list could go on and on. You may be in a similar situation.
I did not believe it when God said in Ecclesiastes 4:9 that two are better than one. My belief was that if I could just get Ann to be more like me, then we could become a good team. But I was wrong. The Lord opened my eyes to realize that I was incomplete without her! I needed a total opposite to help me, not to frustrate me. The day I began to see her personality and differences as an advantage, everything changed for the better. I needed someone to think deeply, to consider a more secure option, to review the details and to balance my big-vision risk-taking!
Stop being frustrated with her and accept her challenges to your ideas, your plans, your goals and your methods. She is your God-given asset and you will grow and mature when you humbly begin to honor her input without arguing or getting defensive.
It is likely that the two of you have very different philosophies of money. The budget will not work until you discuss what you believe about budgeting. We found our common ground when we determined that the Bible would serve as our guide for all financial decisions. This helped to unite us in our hearts before we tried to make plans and budgets.
The way of a fool is right in his own eyes; but he that listens to counsel is wise. (Proverbs 12:15)
Wisdom comes from not just asking for counsel but learning to listen to it. When we learn to ask and listen to our spouse, we have a double win: we gain a more complete understanding of the issue and we preserve our relationship, especially if the financial plan does not work.
In our marriage, we are like a sports team. I am better at the offense (knowing how to earn or increase our income) and Ann is better at the defense (knowing how to protect what we have). By allowing her to manage our budget, pay the bills and keep track of our bank account, we are much better off than when I was in charge of it. It also frees me to apply my strengths to ensuring we have income and proper investments.
Couples that recognize Satan’s trap of causing fights over money learn to apologize quickly to interrupt the evil that harms unity. When we apologize and admit we were wrong, we can use our energy to fight the financial problems together. Imagine trying to put out a house fire and arguing over where or how much water you may need while the home burns to the ground! This is what Satan wants. It is far better to work together putting out the fire than to watch it burn as you bicker about getting your own way.
Begin the New Year by praying together every day about your financial goals and dreams. Take a long walk and pray aloud. Take turns asking the Lord to help you to manage money His way.
Take a Crown class together. You can do this online. Agree to read the Bible and know what it says about managing money so it becomes your guide.
This simple guide will keep you on track. Financial issues are never solved overnight. The Money Map will be a reminder of the next step as you make steady progress.
God transformed my wife and me from a couple in a situation very similar to yours into a couple able to work together on financial issues. For the past eighteen years we have been united, trying to obey God’s principles in our finances. Not only has the Lord radically changed our financial picture, He has changed our marriage. So today, our 40th anniversary is a day of special joy for us.
When I asked her how she wanted to celebrate this milestone anniversary, Ann asked that we rent a house big enough where all of our children and grandchildren could be together for 3 days to simply enjoy each other’s company. No big vacation cruise or jewelry or lavish spending – just a simple time to share love and enjoy our real treasures. So that is where we are right now; in a rented vacation home in middle Tennessee, rejoicing for the miracle that God has performed in our hearts and the joy of being able to invest our lives in our children and in others.
My prayer is for you and your spouse to have that same joy.
Originally published on the Christian Post, December 21, 2018
Dear Chuck,
I have SO MANY possessions. I inherited a lot from precious relatives and purchased items through the years to fill the large homes we lived in with our many children. I’ve had a rich life. I’m now widowed and need to downsize. This Christmas I want to leave a tangible inheritance with my family while I’m able to see them enjoy it. Is this a good plan? How should I do this?
Downsizing Dilemma
Dear Downsizing,
Christmas is a perfect time to leave an early inheritance and begin downsizing! In fact, it may be the best time of year, especially if you can gather your family at your home.
When my wife, Ann, was a child, she remembers special times at her great-aunt’s large Victorian home filled with many beautiful things. One holiday, her great-aunt let the young great nieces and nephews pick something from her china cabinet. Ann still has the crystal dog she chose that day.
It is easy to accumulate a lot of possessions through the years. I look at my own house and understand your dilemma. I am sentimental, so I’ve held onto things that are very special to me. My wife is the opposite and would rather pass things on to bless others or just get rid of clutter. Combining our attitudes, I believe that letting your family shop your house at Christmas is a way to bless them and free you from having to make difficult decisions. If you do not need the income from selling your possessions then passing them on to family members who could enjoy them is a blessing for all of you.
Type a list of the possessions that you are ready to pass down. Going through beloved items can be an emotional experience and may feel overwhelming. Itemizing your list is a great way to stay organized and force yourself to start somewhere. If you have sentimental attachments to any of the items, treat this exercise like a way to start saying “goodbye”. Once an item is on the list, don’t take it off!
Invite the family to breakfast or coffee at your home during the holiday season. Explain what you have decided to do, your motives and the method of handling it. Pray together, then draw numbers to determine the progression of choosing items.
Allow each person to select what they want in the order of the numbers drawn. Use the list to show them what their options are. Take time with each family member to answer their questions about the items or tell them something about its history, what it has meant to you, and how you acquired it.
Then make sure to arrange for everyone to move things out by a specific day!
The process works in families that love and respect one another, but complicated family dynamics (which we all have!) may change how you want to handle the process. What works for our family will not work in every situation.
If having everyone shop your treasures together presents challenges, it may be best to assign the items you want to pass down and have each child come to your home on a separate occasion to make their decision and move the items. If that is not possible, pre-select what you want to pass down and schedule meetings to see if the children are interested in what you have decided to give.
Another way to handle it is to have each child and grandchild tell you which items in your home mean the most to them. Perhaps they’ve already done that. One of our sons expressed his appreciation for a grandmother’s painting and she joyfully gave it to him when he purchased a home.
Another option that can bring your family joy is to sell your possessions for the best possible price and place the funds in a trust that operates like a family bank. The children and grandchildren can access the funds by adhering to the rules or governance that you establish in advance. For instance, if they borrow from the family bank for a down payment or tuition loan, you can determine how and when it must be paid back. This can allow even a small estate to help your family for many generations to come.
An inheritance should be richer than the passing on of money and possessions. In addition to your plans, allow me a few other possible “inheritances” for your consideration. I have made a list of some of the ways you can leave a legacy worth more than any possessions an heir will receive:
This Christmas, may His love guide you in your decisions. When you decide on an option, please let me know how it goes. Merry Christmas to you!
Blessed be the God and Father of our Lord Jesus Christ! According to his great mercy, he has caused us to be born again to a living hope through the resurrection of Jesus Christ from the dead, to an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you, who by God’s power are being guarded through faith for a salvation ready to be revealed in the last time. (1 Peter 1:3-5)
Originally published on the Christian Post December 14, 2018.
Dear Chuck,
I am a Christian male, happily married with a beautiful wife and two young children. I secretly watch porn way too often. Sometimes I watch on my mobile phone while at work. I am beginning to worry since it makes me feel depressed and guilty. My wife or boss may start to question what is going on. My sales commissions are going down and yet, I watch more porn. How can I get a grip on this before it takes me down?
Trapped in Porn
Dear Trapped,
Thank you for your honest question and for reaching out. Your concerns regarding this issue are valid; it is a very serious addiction. The consequences of this are significant to you, your wife, your children and your relationship with the Lord. It is not uncommon for porn users to lose their emotional stability, their job, and their marriage; and in some cases, their lives.
To better understand the problem, I did some quick research. The statistics shocked and deeply saddened me as I read. The global industry is bigger than all of the major TV networks combined or all of the professional sports: football, baseball, and basketball combined. Americans are the number one producers and consumers of porn worldwide.
Max Anderson from The Weekend Reader reports:
In 2017, one website alone served up 25 billion (with a “b”) searches. That is about 50,000 searches per minute, or 3.5 searches for porn for every man, woman and child in the world. Again, this is a single website. This site streamed more than 10 million gigabytes of pornographic content every day in 2017.
Another article states:
Many porn addicts face the additional financial worry that they might lose their jobs: with the shocking figure that 70 percent of porn viewing occurs during normal business hours, it is clear that this is an addiction that cannot be left at the office door, and that many individuals are risking their career and their financial security to get their next fix… According to the Family Research Council, almost half of porn addicts will lose their job as a result of choosing to view pornography in the workplace.
This is a terrible problem for millions of people. But let’s get practical. Here are my tips to help you escape this trap. I hope they help you and anyone else struggling with the constant, ever-present danger of porn.
Porn is based on fantasy. Participants are paid actors controlled by money, not love or healthy sexual attraction.
What if an actor was your child? Seeing them as someone’s child, grandchild, sister or brother will make your heart hurt for the pain that they and their family must be experiencing. Don’t inflict more pain on them by your support.
Proverbs 5 is full of wisdom regarding sexual temptation. It ends with specific advice in verses 20-23:
Why should you be intoxicated, my son, with a forbidden woman and embrace the bosom of an adulteress? For a man’s ways are before the eyes of the Lord, and He ponders all his paths. The iniquities of the wicked ensnare him, and he is held fast in the cords of his sin. He dies for lack of discipline, and because of his great folly he is led astray.
The Bible says that Potiphar’s wife pursued Joseph day after day after day. When he would not succumb to the temptation, he ran! He suffered awhile but his integrity was intact and ultimately rewarded. Running is a simple, practical, straightforward strategy. It works! It may mean getting rid of your smartphone, throwing out the TV, using Internet filters and restrictions or putting your laptop history where others know where you surf. Porn happens in secret. RUN from darkness to light! If your house were on fire, you would RUN to find a source of water. Your house IS on fire!
When the flesh is stimulated, it begins to crave what it is fed. This has consequences. Garbage in, garbage out. The Bible says if we walk in the Spirit, we will not fulfill the desires of the flesh. Read carefully and slowly:
But I say, walk by the Spirit, and you will not gratify the desires of the flesh. For the desires of the flesh are against the Spirit, and the desires of the Spirit are against the flesh, for these are opposed to each other, to keep you from doing the things you want to do. But if you are led by the Spirit, you are not under the law. Now the works of the flesh are evident: sexual immorality, impurity, sensuality, idolatry, sorcery, enmity, strife, jealousy, fits of anger, rivalries, dissensions, divisions envy, drunkenness, orgies, and things like these. I warn you, as I warned you before, that those who do such things will not inherit the kingdom of God. (Galatians 5:16 –20)
Pastor and author, John Piper, has an excellent message about experiencing the Fruit of the Spirit – self-control – in the midst of sexual temptation. He carefully explains that believers are not “addicted” to porn meaning that any temptation or habitual sin can, in fact, be brought under God’s control. His insights should not be paraphrased here which would risk diminishing their full impact. Please read his post!
Research indicates that the average age of first exposure to porn in American is now eleven. Imagine your children being taken captive into the same ugly trap of guilt and shame. Of course, you would never want them to go down that path. So, I want you to protect your family and be the parent your children need.
To put this into practice make God and His Word the first thoughts of your day. Memorize verses that replace the lies that have taken hold of your mind. Pray for victory every day. Trust that God’s love is more satisfying than the empty slop that Satan is offering you. Remember:
No temptation has overtaken you that is not common to man. God is faithful, and he will not let you be tempted beyond your ability, but with the temptation he will also provide the way of escape, that you may be able to endure it. (1 Corinthians 10:13)
Originally published on the Christian Post, December 7, 2018
