It is hard not to be discouraged by all of the recent press of impending doom. However, I believeit is now more important than ever to continue to focus on the basics. We have run from wise financial counsel in the past by borrowing more than we can afford, expecting continued appreciation of the stock market, and unlimited credit. Therefore, I believe it is important to focus on the basics.
This time reminds me of a quote that I believe is appropriate for the times. It was delivered by Randy Pausch as part of his last lecture. He said, "If you do the right things, good things have a way of happening." So, lets focus again on what the right things are.
1. Continue to spend less than you earn.
2. Save for retirement and continue to invest in a well-diversified portfolio that includes stock funds. We must focus on the long-term and continue to buy stocks even with the impending doom we read about on a daily basis.
3. Have a plan and work it. This includes developing a monthly or payperiod spending plan that has components of saving and giving.
4. Sweat the small things. We must plug up spending items that do not improve our financial position and do not help us towards our financial goals that we are working towards.
5. Defer expenses by distinguishing between the have-to's and the want-to's.
6. Do not rely on credit to fund your on-going operations or monthly budget.
These items are not by any means rocket science and if you are dealing with a lost job, home foreclosure, or a significant setback, you will need additional steps. Some ideas would be starting a part-time job, selling some of your stuff on ebay or having a garage sale, and brainstorming other ways to address your situation. You may want to call your lender or creditors to discuss your current situation.
Send me your questions or ideas to help others during this difficult period.
Tuesday, October 7, 2008
Wednesday, September 3, 2008
Impacting the local church
Our current financial mess is having a significant impact on the local church, and our ability to give. We are struggling financially to meet all of our obligations which is creating an added stress to marriages and families. Some current financial trends are:
•Record bankruptcies and foreclosures are having an impact on our ability to effectively give to the Church.
•We have a problem in the United States managing our money according to Biblical principles. This causes our church and our witness to suffer when we do not manage our resources effectively.
•U.S. churchgoers donated $21.5 billion, but if these churchgoers had donated 10% of their income, they would have given $134 billion.
•Money issues are the leading cause of divorce in the United States.
•Kids are impacted by the financial choices of their parents. Moving schools, stress, and learned behaviors.
There are some ways that we can manage our money more effectively. These include:
1.Learn to want less (Matthew 5)
2.Manage your debt, stop making excuses
3.Plan your spending (create a budget)
4.Invest wisely and often
5.Your money is your testimony
6.Talk about $ with your spouse and kids
7.Be passionate about what you do
8.It is okay to be different
9.Take action today to be proavtive in managing your finances!
•Record bankruptcies and foreclosures are having an impact on our ability to effectively give to the Church.
•We have a problem in the United States managing our money according to Biblical principles. This causes our church and our witness to suffer when we do not manage our resources effectively.
•U.S. churchgoers donated $21.5 billion, but if these churchgoers had donated 10% of their income, they would have given $134 billion.
•Money issues are the leading cause of divorce in the United States.
•Kids are impacted by the financial choices of their parents. Moving schools, stress, and learned behaviors.
There are some ways that we can manage our money more effectively. These include:
1.Learn to want less (Matthew 5)
2.Manage your debt, stop making excuses
3.Plan your spending (create a budget)
4.Invest wisely and often
5.Your money is your testimony
6.Talk about $ with your spouse and kids
7.Be passionate about what you do
8.It is okay to be different
9.Take action today to be proavtive in managing your finances!
Tuesday, August 26, 2008
Tax-free savings for retirement
Below is an article that I read related to your H.S.A. account. It is from ToughMoneyLove and can be accessed at http://www.freemoneyfinance.com/2008/08/using-your-heal.html
Below I have included his entire discussion. This is a unique way to use the H.S.A. account to save tax-free for retirement and also enjoy the tax-free gains on the contributions.
Health Savings Accounts (HSA for short) have become all the rage in recent years, particularly for small businesses like mine that struggle to balance benefit cost control with taking care of our employees. So, several years ago we introduced a high deductible insurance plan with an HSA. We fund most of the deductible for our employees with quarterly contributions. We also allow our employees to make additional contributions on their own, subject to the maximum contribution allowed by IRS regulations. The maximum contribution (the aggregate of employer and employee contributions) allowed in 2008 is $5650 for a family plan like mine. I can contribute an additional $900 this year because I am over 55. All of these contributions are "above the line" meaning that they are not included in your taxable income on your Form 1040.
For the first two years, I followed conventional practice and used HSA funds to pay for all of our medical expenses, including approved expenses that were not covered by our insurance plan (over the counter medications and such). However, at the end of 2007 I began to think about the conventional wisdom and studied various government rules and publications about HSA contributions. It was then that I realized that I could likely obtain a greater long term financial benefit from my HSA funds by NOT spending them now. Instead, I could let them accumulate in the account and withdraw those funds when I retire later (including any investment earnings and appreciation), absolutely tax free. In other words, I was going to use my HSA account as a "super Roth" account.
Why do I refer to my HSA as a "super Roth" account? We all know that funds that are deposited in a Roth IRA (or that are contributed to the Roth component of a 410k plan) can be withdrawn in retirement tax free, including accumulated earnings and appreciation on the contributions. The only drawback is that the contributions are "below the line" i.e., they are included in your taxable income. Nevertheless, that is still a good investment strategy for many because tax rates are expected to go way up for future generations. (If you don't believe this, do some more research!) Turning to the HSA, we now see that you can get the tax-free benefit both going in and coming out. You don't pay any tax at all on those HSA funds, as long as they are used for qualified medical expenses. Thus, it is a "super" Roth. For me, its really a double super-Roth because our income is over the limit allowed for contributing to a Roth IRA. For the HSA "super" Roth, there are no such income limits.
Right now readers are thinking "wait a minute - how are you going to get all of that money out of the HSA without paying taxes unless your future medical bills are astronomical." That brings me to the second part of the strategy. First, we are saving all of our receipts for every qualified medical expense we incur and putting them in a file. There are lots of them, believe me: aspirin, bandages, ointments, eyeglasses, dental bills, etc., along with all of the typical physician bills and prescriptions. We are going to save these until we retire and need some tax free income. I checked IRS regs and publications and there is no rule against withdrawing HSA funds accumulated (and grown) over many years and applying them to unreimbursed qualified medical expenses that you incurred in past years, as long as they were incurred after you set up the HSA. So, if I want $5000 in tax free income in 2015, I can pull out $5000 from my HSA and match those funds up with $5000 in receipts from my file. Because we already paid those old bills, I can use the $5000 withdrawal in 2015 for anything I want, tax free.
Now readers are thinking "what's the big deal you - you are just withdrawing funds later that you could have withdrawn earlier, also tax free." My response is not to forget about the accumulated investment earnings. If the market has been decent, I will have a nice pool of money to use for other medical expenses. Thus, the second part of this strategy is that when I am 65, I will have to pay Medicare premiums. These premiums are increasing faster than the rate of inflation. Even though HSA funds cannot be used to pay conventional health insurance premiums now (or for Medigap coverage when I retire), the IRS will allow me to use HSA funds for Medicare premiums and for some types of long-term care insurance. I will also have other health care expenses that Medicare does not cover. That's where the accumulated investment earnings (I hope!) will go. Again, its all tax free.
Now skeptics are saying "what if Congress enacts a national health plan for all Americans. You won't have any future premiums or medical expenses." My answer is that (a) don't count on 100% reimbursement with any future plan and (b) I still have my old medical receipts file. Plus, even if I want to use HSA funds for non-medical expenses, I can do so without penalty (paying ordinary tax rates) after I turn 65.
Of course, before you implement the HSA "super" Roth strategy, you want to make sure that you have access to suitable investment vehicles for your contributions. Our HSA provider is Wells Fargo. It offers a handful of decent (not great) mutual funds for HSA deposits. I have selected a balanced fund that I hope will show 6%-8% annual tax free growth over the next 10 years. If so, our HSA funds will give us additional flexibility in managing the tax burden of withdrawing and spending taxable and tax free retirement assets in the future.
In summary, if you can afford to delay using your HSA funds and instead leave them invested, your payoff in retirement will be substantial. You will receive tax free benefits that surpass those of even a conventional Roth IRA or Roth 401k. The "super" Roth!
Below I have included his entire discussion. This is a unique way to use the H.S.A. account to save tax-free for retirement and also enjoy the tax-free gains on the contributions.
Health Savings Accounts (HSA for short) have become all the rage in recent years, particularly for small businesses like mine that struggle to balance benefit cost control with taking care of our employees. So, several years ago we introduced a high deductible insurance plan with an HSA. We fund most of the deductible for our employees with quarterly contributions. We also allow our employees to make additional contributions on their own, subject to the maximum contribution allowed by IRS regulations. The maximum contribution (the aggregate of employer and employee contributions) allowed in 2008 is $5650 for a family plan like mine. I can contribute an additional $900 this year because I am over 55. All of these contributions are "above the line" meaning that they are not included in your taxable income on your Form 1040.
For the first two years, I followed conventional practice and used HSA funds to pay for all of our medical expenses, including approved expenses that were not covered by our insurance plan (over the counter medications and such). However, at the end of 2007 I began to think about the conventional wisdom and studied various government rules and publications about HSA contributions. It was then that I realized that I could likely obtain a greater long term financial benefit from my HSA funds by NOT spending them now. Instead, I could let them accumulate in the account and withdraw those funds when I retire later (including any investment earnings and appreciation), absolutely tax free. In other words, I was going to use my HSA account as a "super Roth" account.
Why do I refer to my HSA as a "super Roth" account? We all know that funds that are deposited in a Roth IRA (or that are contributed to the Roth component of a 410k plan) can be withdrawn in retirement tax free, including accumulated earnings and appreciation on the contributions. The only drawback is that the contributions are "below the line" i.e., they are included in your taxable income. Nevertheless, that is still a good investment strategy for many because tax rates are expected to go way up for future generations. (If you don't believe this, do some more research!) Turning to the HSA, we now see that you can get the tax-free benefit both going in and coming out. You don't pay any tax at all on those HSA funds, as long as they are used for qualified medical expenses. Thus, it is a "super" Roth. For me, its really a double super-Roth because our income is over the limit allowed for contributing to a Roth IRA. For the HSA "super" Roth, there are no such income limits.
Right now readers are thinking "wait a minute - how are you going to get all of that money out of the HSA without paying taxes unless your future medical bills are astronomical." That brings me to the second part of the strategy. First, we are saving all of our receipts for every qualified medical expense we incur and putting them in a file. There are lots of them, believe me: aspirin, bandages, ointments, eyeglasses, dental bills, etc., along with all of the typical physician bills and prescriptions. We are going to save these until we retire and need some tax free income. I checked IRS regs and publications and there is no rule against withdrawing HSA funds accumulated (and grown) over many years and applying them to unreimbursed qualified medical expenses that you incurred in past years, as long as they were incurred after you set up the HSA. So, if I want $5000 in tax free income in 2015, I can pull out $5000 from my HSA and match those funds up with $5000 in receipts from my file. Because we already paid those old bills, I can use the $5000 withdrawal in 2015 for anything I want, tax free.
Now readers are thinking "what's the big deal you - you are just withdrawing funds later that you could have withdrawn earlier, also tax free." My response is not to forget about the accumulated investment earnings. If the market has been decent, I will have a nice pool of money to use for other medical expenses. Thus, the second part of this strategy is that when I am 65, I will have to pay Medicare premiums. These premiums are increasing faster than the rate of inflation. Even though HSA funds cannot be used to pay conventional health insurance premiums now (or for Medigap coverage when I retire), the IRS will allow me to use HSA funds for Medicare premiums and for some types of long-term care insurance. I will also have other health care expenses that Medicare does not cover. That's where the accumulated investment earnings (I hope!) will go. Again, its all tax free.
Now skeptics are saying "what if Congress enacts a national health plan for all Americans. You won't have any future premiums or medical expenses." My answer is that (a) don't count on 100% reimbursement with any future plan and (b) I still have my old medical receipts file. Plus, even if I want to use HSA funds for non-medical expenses, I can do so without penalty (paying ordinary tax rates) after I turn 65.
Of course, before you implement the HSA "super" Roth strategy, you want to make sure that you have access to suitable investment vehicles for your contributions. Our HSA provider is Wells Fargo. It offers a handful of decent (not great) mutual funds for HSA deposits. I have selected a balanced fund that I hope will show 6%-8% annual tax free growth over the next 10 years. If so, our HSA funds will give us additional flexibility in managing the tax burden of withdrawing and spending taxable and tax free retirement assets in the future.
In summary, if you can afford to delay using your HSA funds and instead leave them invested, your payoff in retirement will be substantial. You will receive tax free benefits that surpass those of even a conventional Roth IRA or Roth 401k. The "super" Roth!
Thursday, August 21, 2008
John Wesley and Money
As a Methodist one of our heros is John Wesley, the founder of Methodism. During his ministry, he had a lot to say about money and its uses. John Wesley once said, "make all you can, save all you can, and give all you can." Most of us, including myself attempt to be pretty good at least one of these areas, but not usually all three. It should be our desire to strive to be good at all three as Wesley proved to be during his ministry. It is interesting to note that Brother Wesley was concerned with his fellow man and the role of money in this ministry.
He once said, "money is an excellent gift of God, answering the noblest ends. In the hands of his children it is food for the hungry drink for the thirsty raiment for the naked… a means of health to the sick, of ease to them that are in pain. It may be as eyes to the blind, as feet to the lame…… "
This sense of truth should cause us to examine our own giving life. John Wesley showed us that:
•God is a giver, He gave us all that He had by coming to earth through Jesus Christ.
•To grow as a Christian, we must also include growth in our giving as we become more like Christ.
•We are to only use what is necessary for our own consumption (Wesley may have been the first "green" tree hugger). By only consuming resources that provide for our basic needs, we allow other resources to be available to meet the basic needs of others.
•Giving is a way to recognize God’s generosity in our own life. We give to demonstrate our love for God and for our neighbor.
Let us also examine John Wesley's budget and see how his actions backed up his words. He initially earned 30 pounds, lived on 28, and gave 2. Eventually, he earned over 1,400 pounds and gave away over 98% of his income, while living on 30 pounds (he gave himself a slight raise in his lifestyle after many years).
If only I could have been so diligent that when my income increased, my giving increased by the amount of my pay raise. Do you remember your first full-time job and how much you got paid? I remember thinking that I had never been so rich, but quickly I adjusted my lifestyle to match my income. While those decisions have been made, may I begin not giving myself increases, but using the excess for ministry, to save for retirement.
This past year, I received a 3% increase in pay and increased my retirement savings by the amount of my pay increase. Try doing that this year for your giving, long-term savings, or debt retirement plan. I know you will be blessed.
I will close with Matthew 5 from the message
5"You're blessed when you're content with just who you are—no more, no less. That's the moment you find yourselves proud owners of everything that can't be bought."
I am pushing for this to be MasterCard's new slogan, but it might have a negative impact on their bottom line. This is the Bible's version of "priceless" instead of the worldly version.
He once said, "money is an excellent gift of God, answering the noblest ends. In the hands of his children it is food for the hungry drink for the thirsty raiment for the naked… a means of health to the sick, of ease to them that are in pain. It may be as eyes to the blind, as feet to the lame…… "
This sense of truth should cause us to examine our own giving life. John Wesley showed us that:
•God is a giver, He gave us all that He had by coming to earth through Jesus Christ.
•To grow as a Christian, we must also include growth in our giving as we become more like Christ.
•We are to only use what is necessary for our own consumption (Wesley may have been the first "green" tree hugger). By only consuming resources that provide for our basic needs, we allow other resources to be available to meet the basic needs of others.
•Giving is a way to recognize God’s generosity in our own life. We give to demonstrate our love for God and for our neighbor.
Let us also examine John Wesley's budget and see how his actions backed up his words. He initially earned 30 pounds, lived on 28, and gave 2. Eventually, he earned over 1,400 pounds and gave away over 98% of his income, while living on 30 pounds (he gave himself a slight raise in his lifestyle after many years).
If only I could have been so diligent that when my income increased, my giving increased by the amount of my pay raise. Do you remember your first full-time job and how much you got paid? I remember thinking that I had never been so rich, but quickly I adjusted my lifestyle to match my income. While those decisions have been made, may I begin not giving myself increases, but using the excess for ministry, to save for retirement.
This past year, I received a 3% increase in pay and increased my retirement savings by the amount of my pay increase. Try doing that this year for your giving, long-term savings, or debt retirement plan. I know you will be blessed.
I will close with Matthew 5 from the message
5"You're blessed when you're content with just who you are—no more, no less. That's the moment you find yourselves proud owners of everything that can't be bought."
I am pushing for this to be MasterCard's new slogan, but it might have a negative impact on their bottom line. This is the Bible's version of "priceless" instead of the worldly version.
Tuesday, August 19, 2008
10 Beliefs about money
1. Tithing is a spiritual discipline.
2. You must save for anticipated expenses if you want to achieve financial independence.
3. You must create passive income with investments and earnings to succeed financially.
4. You must have an effective partnership with your spouse to win financially.
5. You must improve your financial intelligence to be successful.
6. You must spend less than you earn.
7. You must exhibit consistent, positive habits over a period of time.
8. You must be a positive role model to teach your children about money.
9. We must be passionate about our work to succeed and prosper.
10. You must die to self to win financially.
2. You must save for anticipated expenses if you want to achieve financial independence.
3. You must create passive income with investments and earnings to succeed financially.
4. You must have an effective partnership with your spouse to win financially.
5. You must improve your financial intelligence to be successful.
6. You must spend less than you earn.
7. You must exhibit consistent, positive habits over a period of time.
8. You must be a positive role model to teach your children about money.
9. We must be passionate about our work to succeed and prosper.
10. You must die to self to win financially.
Thursday, August 14, 2008
Health Insurance
At work we are implementing a new health insurance program that will allow members to choose between 3 options. The "high", "middle", and H.S.A. options. Based upon an analysis of the numbers, I will be able to save some significant funds by enrolling in the H.S.A. plan. Using past data, I have determined that our family will be able to save approximately $5,700 per year over the "high" plan and $2,300 over the "middle" option. While we are fortunate to have good health and am fairly young and healthy, this may not always be the case. Hopefully, we will have several years of good health and can prepare for any large medical claims.
1. Have an emergency fund for medical expenses.
2. Spend the money to go to the doctor to avoid larger medical expenses later.
3. Fully fund your H.S.A. account which will be $5,950 for family coverage in 2009 and $3,000 for single coverage.
4. Be an informed consumer by minimizing your costs by being aware of special programs like the $4 prescription programs offered by Wal-mart, Krogers, and others.
5. Take care of your body by working out, eating healthy, and dealing with stress in an appropriate manner.
By enrolling in the health savings account (H.S.A.) I plan to fully fund my account by redirecting my premium savings directly into my own health savings account. My employer will contribute $1,200 and I will contribute the other $4,750. My current premiums are $512 per month, of which I will contribute $512 to my HSA each month, until I reach the maximum and then will save the additional funds to pay for any costs that may be above the amount in my account. To be successful this will require discipline to avoid spending these funds on other things that might be more fun, more pressing, or to reduce other debts.
1. Have an emergency fund for medical expenses.
2. Spend the money to go to the doctor to avoid larger medical expenses later.
3. Fully fund your H.S.A. account which will be $5,950 for family coverage in 2009 and $3,000 for single coverage.
4. Be an informed consumer by minimizing your costs by being aware of special programs like the $4 prescription programs offered by Wal-mart, Krogers, and others.
5. Take care of your body by working out, eating healthy, and dealing with stress in an appropriate manner.
By enrolling in the health savings account (H.S.A.) I plan to fully fund my account by redirecting my premium savings directly into my own health savings account. My employer will contribute $1,200 and I will contribute the other $4,750. My current premiums are $512 per month, of which I will contribute $512 to my HSA each month, until I reach the maximum and then will save the additional funds to pay for any costs that may be above the amount in my account. To be successful this will require discipline to avoid spending these funds on other things that might be more fun, more pressing, or to reduce other debts.
Monday, May 5, 2008
4 simple steps to manage your finances in God's will
It has been a few days since my last post and I have been busy refining and developing material that can be shared as it relates to ways to manage your money in accordance with God's will. On May 18th, I will be delivering the sermon to St. Marks Church in Knoxville. My planned topic is about money. Since the last post I have hiked Mt. Leconte with my wife Kelly, attended several baseball games, and spent time studying God's word and the role of money in our lives.
Today, I want to share with you the 4 simple steps to managing money and then over the next few days spend time delving into each issue to include a Bible reference and a personal experience that is related.
4 simple steps:
1. Give to God first
2. Give sacrificially to the Lord’s work
3. Lay aside a specific amount for savings
4. Live within the rest of your income
While these things appear to be easy in concept, I am hopeful that you will recognize the realization that I have made during this time away as it relates to money. While we can become good at managing our money, we can always do better. No matter how much I know about money and its proper usage, I can always do better by living on less, giving more, or being more strategic with the resources I have. I am also constantly amazed of how the Bible relates to my life and speaks to me regardless of the issues I am facing. To me, this another sign that the Bible is God's divine work. Have you read any other books that have withstood the changing culture or issues and still speak to you?
While I am certainly not perfect in managing my money in God's will, I am hopeful that I can become more like Christ and bless others with the resources that I have to share.
One of my goals for this year is to work towards becoming an expert on the Bible as it relates to money issues. I am in the process of reading the Bible daily, reading anything and everything related to money, and continuing to seek God's calling for assisting others with their money struggles. I want to document my growth over the next year through this blog. I am hopeful that I can share this information with others that face the same struggles as me and my family.
Today, I want to share with you the 4 simple steps to managing money and then over the next few days spend time delving into each issue to include a Bible reference and a personal experience that is related.
4 simple steps:
1. Give to God first
2. Give sacrificially to the Lord’s work
3. Lay aside a specific amount for savings
4. Live within the rest of your income
While these things appear to be easy in concept, I am hopeful that you will recognize the realization that I have made during this time away as it relates to money. While we can become good at managing our money, we can always do better. No matter how much I know about money and its proper usage, I can always do better by living on less, giving more, or being more strategic with the resources I have. I am also constantly amazed of how the Bible relates to my life and speaks to me regardless of the issues I am facing. To me, this another sign that the Bible is God's divine work. Have you read any other books that have withstood the changing culture or issues and still speak to you?
While I am certainly not perfect in managing my money in God's will, I am hopeful that I can become more like Christ and bless others with the resources that I have to share.
One of my goals for this year is to work towards becoming an expert on the Bible as it relates to money issues. I am in the process of reading the Bible daily, reading anything and everything related to money, and continuing to seek God's calling for assisting others with their money struggles. I want to document my growth over the next year through this blog. I am hopeful that I can share this information with others that face the same struggles as me and my family.
Tuesday, April 15, 2008
Birthday Celebration
Yesterday in my attempt to give to all that asked, I failed. In my rush to get out the door and get home to the kids, a student asked me for money and I refused out of habit. This was my opportunity to be generous, and I failed miserably. I would like to back up and have that opportunity again.
Today is Sam and Wes' 5th birthday. Some of my favorite recollections is the fact that I was in St. Louis on the morning they were born in a trip on a KC-134 refueler plane. After returning around 1:30 I had just sat down to a meeting to plan the furniture for my office in the new Municipal Building. Fifteen minutes into the meeting Kelly called with news that her water had broken. She called the doctor and they told her to come to Blount Memorial. I have never driven faster in my haste to get home and get her to the hospital. We took the older boys to the Webb's and set off for BMH. Once we arrived they hooked Kelly up to an IV and checked her in. About 5 minutes later they decided she needed to go to UT. They loaded her in the ambulance and they set off for UT hospital. Me, a nervous wreck, flew down Alcoa Highway scared out of my mind. I drove so fast that I arrived at UT before the ambulance.
Sam and Wes were born at 11:26 and 11:41 p.m. respectively on April 15, 2003. They spent 11 days in ICU and we were finally able to bring them home. Zach and Eli saw them for the first time at the door to the ICU a few days after they were born. Since this time they have continued to grow and are now an integral part of our family. They are destined for great things and we have been blessed by their lives.
Although the money is tight, we don't get to eat out much, take exotic vacations, and college funding may be a struggle, I cannot imagine life without either of them. I would predict that Wesley will be a great athlete and Sam will be an accomplished musician. I look forward to continuing to see them grow and blossom into the men that God has made them to be and to live into God's plan for their lives.
Some scripture verses that I am reading right now are from Proverbs 30.
Don't blow the whistle on your fellow workers behind their backs; they'll accuse you of being underhanded, and then you'll be the guilty one!
A leech has twin daughters named "Gimme" and "Gimme more."
Today is Sam and Wes' 5th birthday. Some of my favorite recollections is the fact that I was in St. Louis on the morning they were born in a trip on a KC-134 refueler plane. After returning around 1:30 I had just sat down to a meeting to plan the furniture for my office in the new Municipal Building. Fifteen minutes into the meeting Kelly called with news that her water had broken. She called the doctor and they told her to come to Blount Memorial. I have never driven faster in my haste to get home and get her to the hospital. We took the older boys to the Webb's and set off for BMH. Once we arrived they hooked Kelly up to an IV and checked her in. About 5 minutes later they decided she needed to go to UT. They loaded her in the ambulance and they set off for UT hospital. Me, a nervous wreck, flew down Alcoa Highway scared out of my mind. I drove so fast that I arrived at UT before the ambulance.
Sam and Wes were born at 11:26 and 11:41 p.m. respectively on April 15, 2003. They spent 11 days in ICU and we were finally able to bring them home. Zach and Eli saw them for the first time at the door to the ICU a few days after they were born. Since this time they have continued to grow and are now an integral part of our family. They are destined for great things and we have been blessed by their lives.
Although the money is tight, we don't get to eat out much, take exotic vacations, and college funding may be a struggle, I cannot imagine life without either of them. I would predict that Wesley will be a great athlete and Sam will be an accomplished musician. I look forward to continuing to see them grow and blossom into the men that God has made them to be and to live into God's plan for their lives.
Some scripture verses that I am reading right now are from Proverbs 30.
Don't blow the whistle on your fellow workers behind their backs; they'll accuse you of being underhanded, and then you'll be the guilty one!
A leech has twin daughters named "Gimme" and "Gimme more."
Monday, April 14, 2008
Loving others
I am struggling with loving others, even when they talk about me to others behind my back and struggling with giving to causes that I do not totally believe in their ability to manage their resources properly. Therefore, I have included the following text that indicates that I should pray for my enemies and give to anyone who asks. If I can put these things into practice I will be blessed.
Today, I will pray for my enemies, give to anyone who asks, and treat others as I would like to be treated.
The amount that I give will be given back, so I should be generous if I want God to be generous to me.
I am identified by the fruit I produce. The things that I say are a result of my heart.
Love for Enemies
27 “But to you who are willing to listen, I say, love your enemies! Do good to those who hate you. 28 Bless those who curse you. Pray for those who hurt you. 29 If someone slaps you on one cheek, offer the other cheek also. If someone demands your coat, offer your shirt also. 30 Give to anyone who asks; and when things are taken away from you, don’t try to get them back. 31 Do to others as you would like them to do to you.
38 Give, and you will receive. Your gift will return to you in full—pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.[c]”
43 “A good tree can’t produce bad fruit, and a bad tree can’t produce good fruit. 44 A tree is identified by its fruit. Figs are never gathered from thornbushes, and grapes are not picked from bramble bushes. 45 A good person produces good things from the treasury of a good heart, and an evil person produces evil things from the treasury of an evil heart. What you say flows from what is in your heart.
Today, I will pray for my enemies, give to anyone who asks, and treat others as I would like to be treated.
The amount that I give will be given back, so I should be generous if I want God to be generous to me.
I am identified by the fruit I produce. The things that I say are a result of my heart.
Love for Enemies
27 “But to you who are willing to listen, I say, love your enemies! Do good to those who hate you. 28 Bless those who curse you. Pray for those who hurt you. 29 If someone slaps you on one cheek, offer the other cheek also. If someone demands your coat, offer your shirt also. 30 Give to anyone who asks; and when things are taken away from you, don’t try to get them back. 31 Do to others as you would like them to do to you.
38 Give, and you will receive. Your gift will return to you in full—pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.[c]”
43 “A good tree can’t produce bad fruit, and a bad tree can’t produce good fruit. 44 A tree is identified by its fruit. Figs are never gathered from thornbushes, and grapes are not picked from bramble bushes. 45 A good person produces good things from the treasury of a good heart, and an evil person produces evil things from the treasury of an evil heart. What you say flows from what is in your heart.
Wednesday, April 9, 2008
Sacrifice
Sacrifice is a word that is becoming less obvious in a culture of instant gratification, text messaging, cell phones, plastic surgeries, and wonder pills. It is my belief that this lack of sacrificial acts has strained our relationship with Christ and the local church in bringing others closer to Him. It is revealed in scripture that our giving should be sacrificial, but this is a struggle for me. I am constantly berated with advertisements of more, more, more. In dealing with sacrifice I came across the following story that shows the sacrifice I would like to live out in my finances.
The Seed Grain
The following article is based on a sermon by missionary Del Tarr who served fourteen years in West Africa with another mission agency. His story points out the price some people pay to sow the seed of the gospel in hard soil.
I was always perplexed by Psalm 126 until I went to the Sahel, that vast stretch of savanna more than four thousand miles wide just under the Sahara Desert. In the Sahel, all the moisture comes in a four month period: May, June, July, and August. After that, not a drop of rain falls for eight months. The ground cracks from dryness, and so do your hands and feet. The winds of the Sahara pick up the dust and throw it thousands of feet into the air. It then comes slowly drifting across West Africa as a fine grit. It gets inside your mouth. It gets inside your watch and stops it. The year’s food, of course, must all be grown in those four months. People grow sorghum or milo in small fields.
October and November...these are beautiful months. The granaries are full—the harvest has come. People sing and dance. They eat two meals a day. The sorghum is ground between two stones to make flour and then a mush with the consistency of yesterday’s Cream of Wheat. The sticky mush is eaten hot; they roll it into little balls between their fingers, drop it into a bit of sauce and then pop it into their mouths. The meal lies heavy on their stomachs so they can sleep.
December comes, and the granaries start to recede. Many families omit the morning meal. Certainly by January not one family in fifty is still eating two meals a day.
By February, the evening meal diminishes. The meal shrinks even more during March and children succumb to sickness. You don’t stay well on half a meal a day.
April is the month that haunts my memory. In it you hear the babies crying in the twilight. Most of the days are passed with only an evening cup of gruel. Then, inevitably, it happens. A six- or seven-year-old boy comes running to his father one day with sudden excitement. “Daddy! Daddy! We’ve got grain!” he shouts. “Son, you know we haven’t had grain for weeks.” “Yes, we have!” the boy insists. “Out in the hut where we keep the goats—there’s a leather sack hanging up on the wall—I reached up and put my hand down in there—Daddy, there’s grain in there! Give it to Mommy so she can make flour, and tonight our tummies can sleep!”
The father stands motionless. “Son, we can’t do that,” he softly explains. “That’s next year’s seed grain. It’s the only thing between us and starvation. We’re waiting for the rains, and then we must use it.”
The rains finally arrive in May, and when they do the young boy watches as his father takes the sack from the wall and does the most unreasonable thing imaginable. Instead of feeding his desperately weakened family, he goes to the field and with tears streaming down his face, he takes the precious seed and throws it away. He scatters it in the dirt! Why? Because he believes in the harvest.
The seed is his; he owns it. He can do anything with it he wants. The act of sowing it hurts so much that he cries. But as the African pastors say when they preach on Psalm 126, “Brother and sisters, this is God’s law of the harvest. Don’t expect to rejoice later on unless you have been willing to sow in tears.” And I want to ask you: How much would it cost you to sow in tears? I don’t mean just giving God something from your abundance, but finding a way to say, “I believe in the harvest, and therefore I will give what makes no sense. The world would call me unreasonable to do this—but I must sow regardless, in order that I may someday celebrate with songs of joy.”
Copyright Leadership, 1983
Do you delay gratification to make it through until you have cash to pay for something or do you use 6 months interest free deals to afford more stuff? I used to be at a place where I thought this was the smart thing to do. Use their money instead of my own was the smart thing to do. Typically, what happened is that I either made a late payment and incurred a significant fee, bought something I really did not need, wasn't quite as excited about the item six months later and dreaded the payments, or paid more than I should have paid for the item. Therefore, I encourage you to sacrifice the short run gratification for the long term satisfaction in your finances. The key is to see how small sacrifices result in the achievement of your long term goals to be debt free, fund college funds, buy a newer car, start your own business, have an emergency fund, retire early, or simply sleep better at night. Once you see the linkage between these small sacrifices and the achievement of your goals, they will become more worthwhile. Everyday I eat lunch at the office instead of going out ($2,000 savings/yr); read the newspaper online instead of subscribing($104/yr.); check out books and videos at the library instead of renting or buying ($500/yr); etc. When we were first married money was so tight that we went without cable tv for 5 years ($3,300 savings). I think it might have been worth it.
I would encourage you to seek those small things that you can cut out of your budget that will help you realize your financial dreams. These could include avoiding the purchase of sodas/snacks out of the vending machine, avoiding your daily latte, giving up soft drinks, or whatever fits your lifestyle. I would encourage you to track your expenditures in a notebook, if you are not doing this already, for a week to see how many ways you can avoid these small item purchases. Doing this will cause you to be more aware of these situations and you will choose to give up things that you can live without. This really adds up if you will be disciplined enough to put these savings towards the achievement of your long-term goals. The harder part is distinguishing between the wants and needs in my life. Do I need cable tv, the newspaper, that specialty coffee, etc.
The scripture for the day comes from the Amplified Bible by the Lockman Foundation.
Ephesians 4
1I THEREFORE, the prisoner for the Lord, appeal to and beg you to walk (lead a life) worthy of the [divine] calling to which you have been called [with behavior that is a credit to the summons to God's service,
2Living as becomes you] with complete lowliness of mind (humility) and meekness (unselfishness, gentleness, mildness), with patience, bearing with one another and making allowances because you love one another.
3Be eager and strive earnestly to guard and keep the harmony and oneness of [and produced by] the Spirit in the binding power of peace.
4[There is] one body and one Spirit--just as there is also one hope [that belongs] to the calling you received--
5[There is] one Lord, one faith, one baptism,
6One God and Father of [us] all, Who is above all [Sovereign over all], pervading all and [living] in [us] all.
7Yet grace (God's unmerited favor) was given to each of us individually [not indiscriminately, but in different ways] in proportion to the measure of Christ's [rich and bounteous] gift.
8Therefore it is said, When He ascended on high, He led captivity captive [He led a train of [a]vanquished foes] and He bestowed gifts on men.(A)
9[But He ascended?] Now what can this, He ascended, mean but that He had previously descended from [the heights of] heaven into [the depths], the lower parts of the earth?
10He Who descended is the [very] same as He Who also has ascended high above all the heavens, that He [His presence] might fill all things (the whole universe, from the lowest to the highest).
11And His gifts were [varied; He Himself appointed and gave men to us] some to be apostles (special messengers), some prophets (inspired preachers and expounders), some evangelists (preachers of the Gospel, traveling missionaries), some pastors (shepherds of His flock) and teachers.
The next post will focus on using your gifts and resources to bless others.
The Seed Grain
The following article is based on a sermon by missionary Del Tarr who served fourteen years in West Africa with another mission agency. His story points out the price some people pay to sow the seed of the gospel in hard soil.
I was always perplexed by Psalm 126 until I went to the Sahel, that vast stretch of savanna more than four thousand miles wide just under the Sahara Desert. In the Sahel, all the moisture comes in a four month period: May, June, July, and August. After that, not a drop of rain falls for eight months. The ground cracks from dryness, and so do your hands and feet. The winds of the Sahara pick up the dust and throw it thousands of feet into the air. It then comes slowly drifting across West Africa as a fine grit. It gets inside your mouth. It gets inside your watch and stops it. The year’s food, of course, must all be grown in those four months. People grow sorghum or milo in small fields.
October and November...these are beautiful months. The granaries are full—the harvest has come. People sing and dance. They eat two meals a day. The sorghum is ground between two stones to make flour and then a mush with the consistency of yesterday’s Cream of Wheat. The sticky mush is eaten hot; they roll it into little balls between their fingers, drop it into a bit of sauce and then pop it into their mouths. The meal lies heavy on their stomachs so they can sleep.
December comes, and the granaries start to recede. Many families omit the morning meal. Certainly by January not one family in fifty is still eating two meals a day.
By February, the evening meal diminishes. The meal shrinks even more during March and children succumb to sickness. You don’t stay well on half a meal a day.
April is the month that haunts my memory. In it you hear the babies crying in the twilight. Most of the days are passed with only an evening cup of gruel. Then, inevitably, it happens. A six- or seven-year-old boy comes running to his father one day with sudden excitement. “Daddy! Daddy! We’ve got grain!” he shouts. “Son, you know we haven’t had grain for weeks.” “Yes, we have!” the boy insists. “Out in the hut where we keep the goats—there’s a leather sack hanging up on the wall—I reached up and put my hand down in there—Daddy, there’s grain in there! Give it to Mommy so she can make flour, and tonight our tummies can sleep!”
The father stands motionless. “Son, we can’t do that,” he softly explains. “That’s next year’s seed grain. It’s the only thing between us and starvation. We’re waiting for the rains, and then we must use it.”
The rains finally arrive in May, and when they do the young boy watches as his father takes the sack from the wall and does the most unreasonable thing imaginable. Instead of feeding his desperately weakened family, he goes to the field and with tears streaming down his face, he takes the precious seed and throws it away. He scatters it in the dirt! Why? Because he believes in the harvest.
The seed is his; he owns it. He can do anything with it he wants. The act of sowing it hurts so much that he cries. But as the African pastors say when they preach on Psalm 126, “Brother and sisters, this is God’s law of the harvest. Don’t expect to rejoice later on unless you have been willing to sow in tears.” And I want to ask you: How much would it cost you to sow in tears? I don’t mean just giving God something from your abundance, but finding a way to say, “I believe in the harvest, and therefore I will give what makes no sense. The world would call me unreasonable to do this—but I must sow regardless, in order that I may someday celebrate with songs of joy.”
Copyright Leadership, 1983
Do you delay gratification to make it through until you have cash to pay for something or do you use 6 months interest free deals to afford more stuff? I used to be at a place where I thought this was the smart thing to do. Use their money instead of my own was the smart thing to do. Typically, what happened is that I either made a late payment and incurred a significant fee, bought something I really did not need, wasn't quite as excited about the item six months later and dreaded the payments, or paid more than I should have paid for the item. Therefore, I encourage you to sacrifice the short run gratification for the long term satisfaction in your finances. The key is to see how small sacrifices result in the achievement of your long term goals to be debt free, fund college funds, buy a newer car, start your own business, have an emergency fund, retire early, or simply sleep better at night. Once you see the linkage between these small sacrifices and the achievement of your goals, they will become more worthwhile. Everyday I eat lunch at the office instead of going out ($2,000 savings/yr); read the newspaper online instead of subscribing($104/yr.); check out books and videos at the library instead of renting or buying ($500/yr); etc. When we were first married money was so tight that we went without cable tv for 5 years ($3,300 savings). I think it might have been worth it.
I would encourage you to seek those small things that you can cut out of your budget that will help you realize your financial dreams. These could include avoiding the purchase of sodas/snacks out of the vending machine, avoiding your daily latte, giving up soft drinks, or whatever fits your lifestyle. I would encourage you to track your expenditures in a notebook, if you are not doing this already, for a week to see how many ways you can avoid these small item purchases. Doing this will cause you to be more aware of these situations and you will choose to give up things that you can live without. This really adds up if you will be disciplined enough to put these savings towards the achievement of your long-term goals. The harder part is distinguishing between the wants and needs in my life. Do I need cable tv, the newspaper, that specialty coffee, etc.
The scripture for the day comes from the Amplified Bible by the Lockman Foundation.
Ephesians 4
1I THEREFORE, the prisoner for the Lord, appeal to and beg you to walk (lead a life) worthy of the [divine] calling to which you have been called [with behavior that is a credit to the summons to God's service,
2Living as becomes you] with complete lowliness of mind (humility) and meekness (unselfishness, gentleness, mildness), with patience, bearing with one another and making allowances because you love one another.
3Be eager and strive earnestly to guard and keep the harmony and oneness of [and produced by] the Spirit in the binding power of peace.
4[There is] one body and one Spirit--just as there is also one hope [that belongs] to the calling you received--
5[There is] one Lord, one faith, one baptism,
6One God and Father of [us] all, Who is above all [Sovereign over all], pervading all and [living] in [us] all.
7Yet grace (God's unmerited favor) was given to each of us individually [not indiscriminately, but in different ways] in proportion to the measure of Christ's [rich and bounteous] gift.
8Therefore it is said, When He ascended on high, He led captivity captive [He led a train of [a]vanquished foes] and He bestowed gifts on men.(A)
9[But He ascended?] Now what can this, He ascended, mean but that He had previously descended from [the heights of] heaven into [the depths], the lower parts of the earth?
10He Who descended is the [very] same as He Who also has ascended high above all the heavens, that He [His presence] might fill all things (the whole universe, from the lowest to the highest).
11And His gifts were [varied; He Himself appointed and gave men to us] some to be apostles (special messengers), some prophets (inspired preachers and expounders), some evangelists (preachers of the Gospel, traveling missionaries), some pastors (shepherds of His flock) and teachers.
The next post will focus on using your gifts and resources to bless others.
Tuesday, April 8, 2008
Give to Live
Giving. This is probably the hardest thing that we must do because of our "selfish" nature and the constant bombardment of marketing campaigns designed to separate us from our money. Unfortunately, I am no different than the average American consumer, but it is something that I am trying to overcome. With so many other priorities abounding, it is hard not to keep it all for me. As I indicated yesterday, $587,000 for college seems like a lot of money, and it is. Should I not keep every dollar for me and my kids? I could easily justify that this is the smart thing to do. However, as scripture reveals, I am commanded to give, and help those that are less fortunate. Without giving I become selfish and tend to grip the things of this world tightly.
One of my favorite videos dealing with giving is the video, Rich by Rob Bell. During this video he shares several key statistics that I will share with you about just how rich we are.
92% of the world’s population does not own a car. We own two.
800 million people will not eat today, with 300 million of them being children. I will eat at least three large meals today.
1 billion people live on less than $1 per day. Yesterday, I spent more than this in gas during my 15 minute commute to the office.
$20 billion is the estimate to provide everyone with clean water, basic health, and nutrition each year. Americans spend $20 billion on ice cream each year. I ate my share last year.
These are somewhat humbling statistics as I attempt to measure my sense of wealth against those around me and not with the other billion people that live elsewhere. It is a constant struggle to not seek bigger houses, a nicer car, and the other trappings of this culture. I must find comfort that no matter what I have someone will always have more or bigger. Therefore, it should be my mission to help those around me with the resources that I have been blessed with.
Captain Levy, a believer from Philadelphia, was once asked how he could give so much to the Lord’s work and still possess great wealth. The Captain replied, “Oh, as I shovel it out, He shovels it in, and the Lord has a bigger shovel.”
Today in the Word, July, 1990, p. 28.
One of my favorite videos dealing with giving is the video, Rich by Rob Bell. During this video he shares several key statistics that I will share with you about just how rich we are.
92% of the world’s population does not own a car. We own two.
800 million people will not eat today, with 300 million of them being children. I will eat at least three large meals today.
1 billion people live on less than $1 per day. Yesterday, I spent more than this in gas during my 15 minute commute to the office.
$20 billion is the estimate to provide everyone with clean water, basic health, and nutrition each year. Americans spend $20 billion on ice cream each year. I ate my share last year.
These are somewhat humbling statistics as I attempt to measure my sense of wealth against those around me and not with the other billion people that live elsewhere. It is a constant struggle to not seek bigger houses, a nicer car, and the other trappings of this culture. I must find comfort that no matter what I have someone will always have more or bigger. Therefore, it should be my mission to help those around me with the resources that I have been blessed with.
While we are constantly bombarded by worthy causes and many "sob" stories, I think it is important to have the proper attitude about giving.
Your giving should be done:
1. Willingly
2. Generously
3. Cheerfully
4. Secretly
5. Like Jesus
This giving topic is so large that I will spend the next couple of posts focusing on different aspects of giving. I want to share two stories related to the relationship between giving and wealth. I have found this to be true in my life as well and can testify that God will bless whatever you give and He will provide for your needs.
The ShovelCaptain Levy, a believer from Philadelphia, was once asked how he could give so much to the Lord’s work and still possess great wealth. The Captain replied, “Oh, as I shovel it out, He shovels it in, and the Lord has a bigger shovel.”
Today in the Word, July, 1990, p. 28.
God Provides
In the latter part of the 17th century, German preacher August H. Francke founded an orphanage to care for the homeless children of Halle. One day when Francke desperately needed funds to carry on his work, a destitute Christian widow came to his door begging for a ducat—a gold coin. Because of his financial situation, he politely but regretfully told her he couldn’t help her. Disheartened, the woman began to weep. Moved by her tears, Francke asked her to wait while he went to his room to pray. After seeking God’s guidance, he felt that the Holy Spirit wanted him to change his mind. So, trusting the Lord to meet his own needs, he gave her the money. Two mornings later, he received a letter of thanks from the widow. She explained that because of his generosity she had asked the Lord to shower the orphanage with gifts. That same day Francke received 12 ducats from a wealthy lady and 2 more from a friend in Sweden. He thought he had been amply rewarded for helping the widow, but he was soon informed that the orphanage was to receive 500 gold pieces from the estate of Prince Lodewyk Van Wurtenburg. When he heard this, Francke wept in gratitude. In sacrificially providing for that needy widow, he had been enriched, not impoverished.
Source unknown
The scripture for today is from Deuteronomy 8:11-18 (Message)
Make sure you don't forget God, your God, by not keeping his commandments, his rules and regulations that I command you today. Make sure that when you eat and are satisfied, build pleasant houses and settle in, see your herds and flocks flourish and more and more money come in, watch your standard of living going up and up—make sure you don't become so full of yourself and your things that you forget God, your God,
If you start thinking to yourselves, "I did all this. And all by myself. I'm rich. It's all mine!"—well, think again. Remember that God, your God, gave you the strength to produce all this wealth so as to confirm the covenant that he promised to your ancestors—as it is today.
I will close with the following quote that determines the amount we are to give.
I do not believe one can settle how much we ought to give. I am afraid the only safe rule is to give more than we can spare. - C. S. LewisMonday, April 7, 2008
College Funds
The other day I completed an online calculator that calculated the amount that we should have saved to send our four boys to college. I think this relates well to the scripture verse from the other day related to worry. I have to say that after seeing this amount, I began to worry. According to the calculations we must have $587,000 saved by 2017. Wow! It broke it down to about $15,000 per year that Kelly and I should be saving each year based upon what we already have accumulated. I don't know about you, but this is a stretch to our already tight budget. So far, we have saved approximately $26,000, but have a long ways to go.
Obviously to meet any goal, you must develop a plan. Here is our plan:
We will save a significant portion of funds in our ROTH IRA's ($3,000/yr), attempt to stash away some cash in their 529 plans ($100/month), generate additional income and equity from our rental properties by 2017 ($100,000), and have a goal to save 90% of Kelly's income when she returns to the workforce ($10,000-$25,000/yr.). Even doing all of these things, we will still come up short and have to fund a part of this out of our current earnings or pray for athletic or academic scholarships. I can only imagine that we should have a pay increase just from not having to feed four hungry teenagers while they are away at college that can be used for tuition payments. I heard the other day that to be truly wealthy you must save 90-100% of additional income towards wealth building. If we can be disciplined and save these amounts, we can be financially free and afford to send our kids to college without them accumulating any college-related debt. While I am human and the numbers don't add up, I will trust in God to provide and He has ways and understandings that are higher than my ways and understandings. When the numbers don't add up I will meditate on Philippians 4 and pray over these worries and God will provide.
Today's scripture verse is from 2 Corinthians:
A stingy planter gets a stingy crop; a lavish planter gets a lavish crop. I want each of you to take plenty of time to think it over, and make up your own mind what you will give. That will protect you against sob stories and arm-twisting. God loves it when the giver delights in the giving.
The next post will detail our prayerful consideration of giving to our church and capital building campaign.
Obviously to meet any goal, you must develop a plan. Here is our plan:
We will save a significant portion of funds in our ROTH IRA's ($3,000/yr), attempt to stash away some cash in their 529 plans ($100/month), generate additional income and equity from our rental properties by 2017 ($100,000), and have a goal to save 90% of Kelly's income when she returns to the workforce ($10,000-$25,000/yr.). Even doing all of these things, we will still come up short and have to fund a part of this out of our current earnings or pray for athletic or academic scholarships. I can only imagine that we should have a pay increase just from not having to feed four hungry teenagers while they are away at college that can be used for tuition payments. I heard the other day that to be truly wealthy you must save 90-100% of additional income towards wealth building. If we can be disciplined and save these amounts, we can be financially free and afford to send our kids to college without them accumulating any college-related debt. While I am human and the numbers don't add up, I will trust in God to provide and He has ways and understandings that are higher than my ways and understandings. When the numbers don't add up I will meditate on Philippians 4 and pray over these worries and God will provide.
Today's scripture verse is from 2 Corinthians:
A stingy planter gets a stingy crop; a lavish planter gets a lavish crop. I want each of you to take plenty of time to think it over, and make up your own mind what you will give. That will protect you against sob stories and arm-twisting. God loves it when the giver delights in the giving.
The next post will detail our prayerful consideration of giving to our church and capital building campaign.
Wednesday, April 2, 2008
Power of Prayer
Here is a story that I received yesterday. It convinces me that prayer does work in all areas of your life, including your finances. If times are hard and you are scared I would encourage you to pray and God can do some amazing things. Send me your name and I will pray for you as well!
God's 26 Guards
A missionary on furlough told this true story while visiting his home church in Michigan. "While serving at a small field hospital in Africa, every two weeks I traveled by bicycle through the jungle to a nearby city for supplies. This was a journey of two days and required camping overnight at the halfway point. On one of these journeys, I arrived in the city where I planned to collect money from a bank, purchase medicine, and supplies, and then begin my two-day journey back to the field hospital. Upon arrival in the city, I observed two men fighting, one of whom had been seriously injured. I treated him for his injuries and at the same time talked to him about the Lord. I then traveled two days, camping overnight, and arrived home without incident.... Two weeks later I repeated my journey. Upon arriving in the city, I was approached by the young man I had treated. He told me that he had known I carried money and medicines. He said, 'Some friends and I followed you into the jungle, knowing you would camp overnight. We planned to kill you and take your money and drugs. But just as we were about to move into your camp, we saw that you were surrounded by 26 armed guards. At this, I laughed and said that I was certainly all alone in that jungle campsite. The young man pressed the point, however, and said, 'No, sir, I was not the only person to see the guards, my friends also saw them, and we all counted them. It was because of those guards that we were afraid and left you alone. At this point in the sermon, one of the men in the congregation jumped to his feet and interrupted the missionary and asked if he could tell him the exact day this happened. The missionary told the congregation the date, and the man who interrupted told him this story: "On the night of your incident in Africa , it was morning here and I was preparing to go play golf. I was about to putt when I felt the urge to pray for you. In fact, the urging of the Lord was so strong, I called men in this church to meet with me here in the sanctuary to pray for you.
Would all of those men who met with me on that day stand up?" The men who had met together to pray that day stood up. The missionary wasn't concerned with who they were, he was too busy counting how many men he saw. There were 26!
This story is an incredible example of how the Spirit of the Lord moves in mysterious ways. If you ever hear such prodding, go along with it. Nothing is ever hurt by prayer except the gates of hell.
As the above true story clearly illustrates, "With God all things are possible". More importantly, how God hears and answers the prayers of the faithful.
The scripture for today is Philippians 4
God's 26 Guards
A missionary on furlough told this true story while visiting his home church in Michigan. "While serving at a small field hospital in Africa, every two weeks I traveled by bicycle through the jungle to a nearby city for supplies. This was a journey of two days and required camping overnight at the halfway point. On one of these journeys, I arrived in the city where I planned to collect money from a bank, purchase medicine, and supplies, and then begin my two-day journey back to the field hospital. Upon arrival in the city, I observed two men fighting, one of whom had been seriously injured. I treated him for his injuries and at the same time talked to him about the Lord. I then traveled two days, camping overnight, and arrived home without incident.... Two weeks later I repeated my journey. Upon arriving in the city, I was approached by the young man I had treated. He told me that he had known I carried money and medicines. He said, 'Some friends and I followed you into the jungle, knowing you would camp overnight. We planned to kill you and take your money and drugs. But just as we were about to move into your camp, we saw that you were surrounded by 26 armed guards. At this, I laughed and said that I was certainly all alone in that jungle campsite. The young man pressed the point, however, and said, 'No, sir, I was not the only person to see the guards, my friends also saw them, and we all counted them. It was because of those guards that we were afraid and left you alone. At this point in the sermon, one of the men in the congregation jumped to his feet and interrupted the missionary and asked if he could tell him the exact day this happened. The missionary told the congregation the date, and the man who interrupted told him this story: "On the night of your incident in Africa , it was morning here and I was preparing to go play golf. I was about to putt when I felt the urge to pray for you. In fact, the urging of the Lord was so strong, I called men in this church to meet with me here in the sanctuary to pray for you.
Would all of those men who met with me on that day stand up?" The men who had met together to pray that day stood up. The missionary wasn't concerned with who they were, he was too busy counting how many men he saw. There were 26!
This story is an incredible example of how the Spirit of the Lord moves in mysterious ways. If you ever hear such prodding, go along with it. Nothing is ever hurt by prayer except the gates of hell.
As the above true story clearly illustrates, "With God all things are possible". More importantly, how God hears and answers the prayers of the faithful.
The scripture for today is Philippians 4
Don't fret or worry. Instead of worrying, pray. Let petitions and praises shape your worries into prayers, letting God know your concerns. Before you know it, a sense of God's wholeness, everything coming together for good, will come and settle you down. It's wonderful what happens when Christ displaces worry at the center of your life. Summing it all up, friends, I'd say you'll do best by filling your minds and meditating on things, true, noble, reputable, authentic, compelling, gracious-the best, not the worst; the beautiful, not the ugly; things to praise, not things to curse.
Emergency Fund
I have constantly been reminded that you should have an adequate emergency fund. Most experts state that you should have 3-6 months of liquid reserves. It appears that this is a valuable thing especially when unexpected things happen. In my life these things seem to be happening all at the same time.
Last August my wife and I bought our dream house. It was finally large enough to meet all of our space needs. Prior to this purchase the six of us lived in a 1900 square foot house. We had our four boys in one room so that we could use one bedroom for all of our toys. Thankfully we live a fairly simplistic lifestyle and don't have much stuff. When we bought our new house it needed quite a bit of updating. We stripped wallpaper, painted, took out the pink counter top in the boys bathroom, and renovated the dated basement.
As a ministry opportunity we added a kitchen in our basement to accommodate a young and pregnant woman to provide her with a safe place to live, that was away from her abusive boyfriend. We had not expected this added expense, but were happy to spend the money to assist her on getting back on her feet. At this point is when the large unexpected expenses started to come. Our van had a new intake manifold ($1200), a sewer backup that ruined the brand new flooring I had installed in the basement ($2,000), and quite a few overruns in our remodelling budget for the house, especially with adding the unexpected kitchen counter tops, cabinets, and appliances.
Unfortunately, the living arrangements did not work out with our new tenant and she is back with her abusive boyfriend, but that is part of life. We are going to spend the next few months building our reserve funds back-up to a more comfortable level.
Adding to our financial stress are apartment related issues with our rental business. These have included a fire at one of our units in November 2007. As a result of our fire, the City has required us to install a sprinkler system ($17,000); horns, sirens, and strobes ($4,000); and we also needed a new roof, siding, guttering ($30,000); in addition to remodeling the burned unit that was covered by our insurance less our $5,000 deductible ($34,000). Also, last week we found a water leak in a house that we had that has been vacant. We are trying to buy the adjoining property and had been waiting to determine the usage for the property. However, our note comes due in two months so we must do something now to get the property rented before the bank has to reappraise. Currently, we are ripping out all flooring, paneling, and other items in an attempt to remove all of the water damage. It appears that a pipe froze and had been leaking for quite some time. Unfortunately, this is not covered by our insurance since the property was vacant. Adding to our stress I mistakenly transferred money from my brokerage account into my checking account instead of from my checking to my brokerage account. This mistake caused my brokerage account, that I had written checks against to overdraw and created additional pressure with damages to our reputation for writing bad checks and an increased sense of scarcity.
All of these things show me the increased stresses that tight finances can have in some one's life to the point of damaging their relationships with others including their spouse; a lack of self confidence to keep moving forward, and a sense of hopelessness that may cause some to give up. Therefore, I want to never have any of these feelings again and to try and assist others in avoiding these same types of feelings. It has become our priority to focus on our finances and build our reserves up to the point where we will never be in this situation again. In order to do this we are not spending any money that is not a necessity. We had to forgo gifts for valentine's day, unless you count the intake manifold; anniversary gifts; and other items that we do not have to have.
I will close with the following scripture that relates to our financial situation and the lessons we have learned as a result of these trying times.
From the Message Bible and the book of James
Consider it a sheer gift, friends, when tests and challenges come to you from all sides. You know that under pressure, your faith-life is forced into the open and shows its true colors. So don't try to get out of anything prematurely. Let it do its work so you become mature and well-developed, not deficient in any way.
Last August my wife and I bought our dream house. It was finally large enough to meet all of our space needs. Prior to this purchase the six of us lived in a 1900 square foot house. We had our four boys in one room so that we could use one bedroom for all of our toys. Thankfully we live a fairly simplistic lifestyle and don't have much stuff. When we bought our new house it needed quite a bit of updating. We stripped wallpaper, painted, took out the pink counter top in the boys bathroom, and renovated the dated basement.
As a ministry opportunity we added a kitchen in our basement to accommodate a young and pregnant woman to provide her with a safe place to live, that was away from her abusive boyfriend. We had not expected this added expense, but were happy to spend the money to assist her on getting back on her feet. At this point is when the large unexpected expenses started to come. Our van had a new intake manifold ($1200), a sewer backup that ruined the brand new flooring I had installed in the basement ($2,000), and quite a few overruns in our remodelling budget for the house, especially with adding the unexpected kitchen counter tops, cabinets, and appliances.
Unfortunately, the living arrangements did not work out with our new tenant and she is back with her abusive boyfriend, but that is part of life. We are going to spend the next few months building our reserve funds back-up to a more comfortable level.
Adding to our financial stress are apartment related issues with our rental business. These have included a fire at one of our units in November 2007. As a result of our fire, the City has required us to install a sprinkler system ($17,000); horns, sirens, and strobes ($4,000); and we also needed a new roof, siding, guttering ($30,000); in addition to remodeling the burned unit that was covered by our insurance less our $5,000 deductible ($34,000). Also, last week we found a water leak in a house that we had that has been vacant. We are trying to buy the adjoining property and had been waiting to determine the usage for the property. However, our note comes due in two months so we must do something now to get the property rented before the bank has to reappraise. Currently, we are ripping out all flooring, paneling, and other items in an attempt to remove all of the water damage. It appears that a pipe froze and had been leaking for quite some time. Unfortunately, this is not covered by our insurance since the property was vacant. Adding to our stress I mistakenly transferred money from my brokerage account into my checking account instead of from my checking to my brokerage account. This mistake caused my brokerage account, that I had written checks against to overdraw and created additional pressure with damages to our reputation for writing bad checks and an increased sense of scarcity.
All of these things show me the increased stresses that tight finances can have in some one's life to the point of damaging their relationships with others including their spouse; a lack of self confidence to keep moving forward, and a sense of hopelessness that may cause some to give up. Therefore, I want to never have any of these feelings again and to try and assist others in avoiding these same types of feelings. It has become our priority to focus on our finances and build our reserves up to the point where we will never be in this situation again. In order to do this we are not spending any money that is not a necessity. We had to forgo gifts for valentine's day, unless you count the intake manifold; anniversary gifts; and other items that we do not have to have.
I will close with the following scripture that relates to our financial situation and the lessons we have learned as a result of these trying times.
From the Message Bible and the book of James
Consider it a sheer gift, friends, when tests and challenges come to you from all sides. You know that under pressure, your faith-life is forced into the open and shows its true colors. So don't try to get out of anything prematurely. Let it do its work so you become mature and well-developed, not deficient in any way.
Tuesday, April 1, 2008
Welcome and Introduction!
Greetings! I am starting a new blog to minister to those that need financial assistance to ask questions, seek support, or just vent about money related issues. I am also doing this selfishly to organize my thoughts into a concise process that I can follow to insure that I stay on track with my money.
Some of my previous experiences in dealing with various money related issues include working as the Chief Financial Officer for a $135+ million organization, serving the United Methodist Church as the Conference Treasurer for 914 churches, owning 68 rental units valued at over $2 million, completing my Accounting degree (Tennessee), receving an MBA in Finance (South Carolina), training in Financial Planning (Boston University), completing leadership courses (Harvard & Wisconsin), completion of the Executive Development Program at the University of Tennessee, and many other real world experiences and real life problems.
Sounds impressive, doesn't it! Yet, even with all of these accomplishments, education, and other experiences, I am still challenged daily to fulfill my mission to be a shrewd manager of God's resources. Even though I know the right things to do, sometimes it is hard to do these things. My struggles include providing the necessary lifestyle for my family; being generous with the gifts, talents, and resources that God has blessed me with; saving for college for our four boys; planning to retire one day; and starting my own business.
I want to share an inspirational verse from the Message Bible that keeps me grounded as I try to pursue the things of this world.
Malachi 3:10
"Bring your full Tithe to the Temple treasury so there will be ample provisions in my Temple. Test me in this and see if I don’t open heaven itself to you and pour out blessings beyond your wildest dreams."
I don’t know about you, but even though I don’t drive the nicest car, wear the nicest clothes, or live in the best house, I want to test God in this and see what He has in store for me and my family, even when the numbers don’t add up or I can’t figure it out on my own.
I want to close with a poem that indicates how I can become selfish with the resources that I have been given and to focus on giving God my best, and not just what is leftover at the end of my paycheck.
Leftovers
Some of my previous experiences in dealing with various money related issues include working as the Chief Financial Officer for a $135+ million organization, serving the United Methodist Church as the Conference Treasurer for 914 churches, owning 68 rental units valued at over $2 million, completing my Accounting degree (Tennessee), receving an MBA in Finance (South Carolina), training in Financial Planning (Boston University), completing leadership courses (Harvard & Wisconsin), completion of the Executive Development Program at the University of Tennessee, and many other real world experiences and real life problems.
Sounds impressive, doesn't it! Yet, even with all of these accomplishments, education, and other experiences, I am still challenged daily to fulfill my mission to be a shrewd manager of God's resources. Even though I know the right things to do, sometimes it is hard to do these things. My struggles include providing the necessary lifestyle for my family; being generous with the gifts, talents, and resources that God has blessed me with; saving for college for our four boys; planning to retire one day; and starting my own business.
I want to share an inspirational verse from the Message Bible that keeps me grounded as I try to pursue the things of this world.
Malachi 3:10
"Bring your full Tithe to the Temple treasury so there will be ample provisions in my Temple. Test me in this and see if I don’t open heaven itself to you and pour out blessings beyond your wildest dreams."
I don’t know about you, but even though I don’t drive the nicest car, wear the nicest clothes, or live in the best house, I want to test God in this and see what He has in store for me and my family, even when the numbers don’t add up or I can’t figure it out on my own.
I want to close with a poem that indicates how I can become selfish with the resources that I have been given and to focus on giving God my best, and not just what is leftover at the end of my paycheck.
Leftovers
Leftovers are such humble things,
We would not serve to a guest,
And yet we serve them to our Lord
Who deserves the very best.
We give to Him leftover time,
We give to Him leftover time,
Stray minutes here and there.
Leftover cash we give to Him,
Such few coins as we can spare.
We give our youth unto the world,
We give our youth unto the world,
To hatred, lust and strife;
Then in declining years we give
To him the remnant of our life.
- Source unknown
I challenge you today to give God your best in terms of time, gifts, and money. Together we can discover our unique blessings, talents, and opportunities that we have been given to make a difference in the world.
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