Randy Petrick's Blog, page 2
May 23, 2024
"GOD AND MONEY" - AN EXCEPTIONAL BOOK ON CHRISTIAN MONEY MANAGEMENT
In "God and Money," John Cortines and Gregory Baumer offer a unique perspective that beautifully intertwines faith and finance. As a Chartered Financial Consultant, I've delved into countless financial books, including many on Christian principles. Let me tell you, "God and Money" has secured a spot in my personal Top Five Christian books on finance. This very readable gem overflows with profound insights and practical wisdom. It resonated with me like no other financial book in quite a long while.
[An aside: Don’t let the subtitle, “How We Discovered True Riches at Harvard Business School,” put you off as it did me. The book arose from a class at Harvard Divinity School titled “God and Money.” During the authors’ research for the class, they discovered through surveys that God’s people are hungry for more discussion on generosity. So, they synthesized their findings into the framework that became this book.]
What I liked best:
Cortines and Baumer emphasize the importance of aligning our financial decisions with our faith, emphasizing the values of stewardship, generosity, and contentment. They lay a solid foundation by highlighting our role as stewards of God's resources, a perspective that shapes every financial choice we make. I applaud Cortines and Baumer for starting the discussion of money and finance from a stewardship perspective—they started winning my heart right off by doing so.
Another significant aspect that sets "God and Money" apart from the norm is Cortines’ and Baumer's genuine transparency as they share stories from their financial journeys throughout the book. Their willingness to be open about their struggles with wealth makes the book relatable and exceptionally inspiring. Their authenticity struck a chord, causing me to pause and reflect on my financial attitudes and behaviors. This book can make a difference in your life, just as it did in mine. (See summary at the end.)
Beyond its thought-provoking nature, "God and Money" offers practical guidance and insightful analysis that can readily be applied to our lives. It's not just a book of theories but a guide that will help you reevaluate your relationship with money and discover how it can be a tool for serving others and positively impacting the world.
I liked the way Cortines and Baumer started down that path with their definition and explanation of the word stewardship:
“Stewardship is the active and responsible management of God’s creation for God’s purposes. The key distinction in this revised definition is an impetus for action. Stewardship requires that we actively engage in the utilization and distribution of God’s resources to accomplish His objectives. This includes giving, but also entails so much more: praying for wisdom in allocating His resources; providing leadership to organizations (church or para-church) that are utilizing or distributing those resources; and directly utilizing or distributing those resources ourselves. A steward is not just responsible for collecting and distributing funds; he is also responsible for how those funds are used – indeed, for the actual outcomes obtained through the use of those resources.” (47)
Cortines and Baumer fearlessly tackle tough questions, addressing the dangers of materialism and our perception of "enough."
“For example, how should a 21st-century Christian think about buying a house? How “nice” of a house can a Christian buy without crossing the principles of gratitude and generosity to which he knows he should adhere? … This book is intended to help answer questions such as these. It is intended to evaluate the more granular wealth-and-giving issues of Christian life.” (9)
Mission Accomplished! I enjoyed and appreciated how they approached questions like this from both sides to reach their answers. I also appreciated that each chapter ends with valuable takeaways and reflection questions encouraging you to apply the principles they discuss.
What I liked least:
I'm just bummed that both Baumer and Cortines are millennials. Don’t get me wrong—I love millennials! These two are so wise for their ages; I only wish I could hear the additional wisdom they will gain over the coming 20-30 years!
Why this book has moved into my top 5 Christian financial books:
Like all its competitors, this book starts with a foundation of Biblical principles. Cortines and Baumer state their goal for the book (page 8) as “to create a very practical, pragmatic framework for making the real-life decisions that most Western Christians will have to make.” Goal achieved. For the following 50 pages, they successfully distill all of God’s teachings on wealth and money down to the seven principles that enable them to live out what they see as God’s overall message.
Where they began moving into my all-time top 5 was on page 62, when they hit me with this thought:
“We began to coalesce around the insight that a faithful reading of Scripture leads not to the question “How much should I give?” but rather to the question “How much do I need to keep? Flipping the question this way is a very countercultural thing to do, even within the church. But it is exactly the mindset we must embrace to truly honor God through our generosity.”
Wow! I'm mind-blown. What a fantastic concept to intentionally limit our lifestyle or net worth to give more generously. My wife and I (like one of the book’s survey respondents) have now set a “finish line” for our retirement savings. Once our savings hit that number, we plan to stop saving and turn any further gains on our fund into money to be given away.
'God and Money' can revolutionize your financial attitudes and behaviors, empowering you to establish a healthier and more meaningful connection between your faith and your finances. If you're seeking a book that will guide you toward living out your beliefs in a tangible and impactful way, I wholeheartedly endorse this exceptional work.
Rating: 5 out of 5 stars (and then some!).
A New Top-Five Book in Christian Finance
In "God and Money," John Cortines and Gregory Baumer offer a unique perspective that beautifully intertwines faith and finance. As a Chartered Financial Consultant, I've delved into countless financial books, including many on Christian principles. Let me tell you, "God and Money" has secured a spot in my personal Top Five Christian books on finance. This very readable gem overflows with profound insights and practical wisdom. It resonated with me like no other financial book in quite a long while.
[An aside: Don’t let the subtitle, “How We Discovered True Riches at Harvard Business School,” put you off as it did me. The book arose from a class at Harvard Divinity School titled “God and Money.” During the authors’ research for the class, they discovered through surveys that God’s people are hungry for more discussion on generosity. So, they synthesized their findings into the framework that became this book.]
What I liked best:
Cortines and Baumer emphasize the importance of aligning our financial decisions with our faith, emphasizing the values of stewardship, generosity, and contentment. They lay a solid foundation by highlighting our role as stewards of God's resources, a perspective that shapes every financial choice we make. I applaud Cortines and Baumer for starting the discussion of money and finance from a stewardship perspective—they started winning my heart right off by doing so.
Another significant aspect that sets "God and Money" apart from the norm is Cortines’ and Baumer's genuine transparency as they share stories from their financial journeys throughout the book. Their willingness to be open about their struggles with wealth makes the book relatable and exceptionally inspiring. Their authenticity struck a chord, causing me to pause and reflect on my financial attitudes and behaviors. This book can make a difference in your life, just as it did in mine. (See summary at the end.)
Beyond its thought-provoking nature, "God and Money" offers practical guidance and insightful analysis that can readily be applied to our lives. It's not just a book of theories but a guide that will help you reevaluate your relationship with money and discover how it can be a tool for serving others and positively impacting the world.
I liked the way Cortines and Baumer started down that path with their definition and explanation of the word stewardship:
“Stewardship is the active and responsible management of God’s creation for God’s purposes. The key distinction in this revised definition is an impetus for action. Stewardship requires that we actively engage in the utilization and distribution of God’s resources to accomplish His objectives. This includes giving, but also entails so much more: praying for wisdom in allocating His resources; providing leadership to organizations (church or para-church) that are utilizing or distributing those resources; and directly utilizing or distributing those resources ourselves. A steward is not just responsible for collecting and distributing funds; he is also responsible for how those funds are used – indeed, for the actual outcomes obtained through the use of those resources.” (47)
Cortines and Baumer fearlessly tackle tough questions, addressing the dangers of materialism and our perception of "enough."
“For example, how should a 21st-century Christian think about buying a house? How “nice” of a house can a Christian buy without crossing the principles of gratitude and generosity to which he knows he should adhere? … This book is intended to help answer questions such as these. It is intended to evaluate the more granular wealth-and-giving issues of Christian life.” (9)
Mission Accomplished! I enjoyed and appreciated how they approached questions like this from both sides to reach their answers. I also appreciated that each chapter ends with valuable takeaways and reflection questions encouraging you to apply the principles they discuss.
What I liked least:
I'm just bummed that both Baumer and Cortines are millennials. Don’t get me wrong—I love millennials! These two are so wise for their ages; I only wish I could hear the additional wisdom they will gain over the coming 20-30 years!
Why this book has moved into my top 5 Christian financial books:
Like all its competitors, this book starts with a foundation of Biblical principles. Cortines and Baumer state their goal for the book (page 8) as “to create a very practical, pragmatic framework for making the real-life decisions that most Western Christians will have to make.” Goal achieved. For the following 50 pages, they successfully distill all of God’s teachings on wealth and money down to the seven principles that enable them to live out what they see as God’s overall message.
Where they began moving into my all-time top 5 was on page 62, when they hit me with this thought:
“We began to coalesce around the insight that a faithful reading of Scripture leads not to the question “How much should I give?” but rather to the question “How much do I need to keep? Flipping the question this way is a very countercultural thing to do, even within the church. But it is exactly the mindset we must embrace to truly honor God through our generosity.”
Wow! I'm mind-blown. What a fantastic concept to intentionally limit our lifestyle or net worth to give more generously. My wife and I (like one of the book’s survey respondents) have now set a “finish line” for our retirement savings. Once our savings hit that number, we plan to stop saving and turn any further gains on our fund into money to be given away.
'God and Money' can revolutionize your financial attitudes and behaviors, empowering you to establish a healthier and more meaningful connection between your faith and your finances. If you're seeking a book that will guide you toward living out your beliefs in a tangible and impactful way, I wholeheartedly endorse this exceptional work.
Rating: 5 out of 5 stars (and then some!).
April 23, 2024
DAVE RAMSEY'S "THE TOTAL MONEY MAKEOVER"
The Total Money Makeover by Dave Ramsey is a no-nonsense financial guide rooted in Christian principles. As Ramsey himself says,
“…I openly discuss the spiritual in this book. As a Christian, I include some Bible verses. This is not a “Christian” book, and it for sure isn’t a Bible study on the subject of money. But this is a book about a “Proven Plan to Financial Fitness”…and that plan includes addressing the spiritual issues surrounding money.” (xviii)
WHAT THE BOOK DOES WELL:
With clear and actionable steps, Ramsey helps readers take control of their financial lives and move toward places of peace and generosity. The book is valuable if you want to manage your money wisely, get out of debt, and build wealth.
For me, this book had two key strengths:
The book emphasizes specific steps that anyone can take to move out of financial struggle. (I’ve had my fill of books filled with numbers and theory. This one is practical.)
It includes giving and generosity as pieces of the overall plans. (I actually wish Ramsey had hit this aspect harder. More on that later.)
RANDY’S REFLECTIONS:
Ramsey’s stress on living debt-free convicts me whenever I pick up one of his books. While we (Randy and Gwyn) are essentially debt-free other than our mortgage, I always feel that extra boost of encouragement to rid ourselves even of the mortgage when I read or listen to Dave. (Yes, that may mean not taking full advantage of financial “leverage” as suggested by some financial coaches, but… Well, that’s a topic for another day. “Using” debt is an interesting discussion all its own.)
You likely already know how much I encourage building up an emergency fund. It is a biblical principle to save for the future to ensure we are prepared for unexpected challenges. Ramsey’s use of that concept reminded me of Joseph in Egypt, storing up during times of plenty to sustain during times of scarcity.
As my longer-term readers know, I’m also all about giving – and it pleased me to see Ramsey encouraging giving as well:
“Giving is possibly the most fun you will ever have with money… Every mentally and spiritually healthy person I’ve met has been turned on by giving as long as it didn’t mean his own lights got cut off. I can promise you from meeting with literally thousands of millionaires that the thing the healthy ones share in common is a love of GIVING.” (189)
“If you want to help someone, many times you can’t do so without money. The Bible states that pure religion is actually helping the poor, not theorizing over why they are poor (see James 1:27). Margaret Thatcher said, ‘No one would remember the good Samaritan if he’d only had good intentions; he had money as well.’ The good Samaritan had a good heart and a heavy enough purse to pay an innkeeper to help take care of the injured man. Money was involved. Money was at its best that day. Money gives power to good intentions. That’s why I’m unashamedly in favor of building wealth.” (190)
Is the book a flawless masterpiece? No, but if you are floundering financially, this book does have the potential to help you move into a better place. I do feel for Ramsey, though, as he has critics liking it and disliking it for the same reasons. Writing a book based on biblical principles but not having it be overtly spiritual must be like trying to navigate a ship through stormy seas. It’s tricky.
Some people don’t like the book because Ramsey includes spiritual thoughts in his teachings, and others don’t believe his writing is spiritual enough. It is a fine line he’s traveling, but the fact that he has critics on both sides tells me he may have taken a reasonable course. Why? To garner detractors on both sides, he had to write a book that got Christians and non-Christians to read it!
Readers also criticize Ramsey’s presentation style. Although he is very straightforward, his tough-love and no-nonsense approaches sometimes seem to lack empathy. I get it, but I’ll take straightforward any day.
Other critics disagree with his one-size-fits-all approaches to debt and investing; some even disagree with the amount ($1,000) he suggests for a starter emergency fund. I may weigh in on some of those topics in later posts, but for now, let Proverbs 15:22 (NIV) be your guide:
Plans fail for lack of counsel, but with many advisers, they succeed.
Reading or listening to multiple money counselors as part of your quest for financial wisdom and guidance has solid support from scripture. Take the best from each counselor to fit your situation. And since I’ve been sharing some of my frailties throughout my posts, I will ask you to remember this about all your advisors: Advisors are humans, too, and there may be times when you need to separate the wisdom from the person. There. Now I feel better.
CONCLUSION: “The Total Money Makeover” gets four out of five stars from me. It is one of Ramsey’s signature works but needs to be contextualized with the lessons he expands on in his later books. I found this one heavier on “winning” by accumulating wealth and less about giving and generosity than some of his recent works. This book emphasizes family legacies and the personal freedom that comes with wealth. Ramsey encourages giving and generosity but shies away from the emphasis I prefer, which is to present the use of money to build God’s Kingdom here on earth as foundational. He does talk about generosity, but I hoped to see a heavier lean in the direction of stewarding or managing God's resources for Kingdom purposes. With that caveat, I still recommend this book to anyone looking for no-nonsense, practical steps to help transform their financial situations and improve their money management.
Please note that Ramsey is not a licensed financial advisor. Dave does a great job of motivating people to get out of debt and be responsible with their finances, and I applaud that. Just be careful not to put all your faith in advice from a single source. Explore diverse viewpoints.
My ChFC and RICP are postgraduate designations from the American College of Financial Services. Ramsey calls people like my professors there “Supernerd Goobers.” I, for one, am happy to have been able to study under those Ph.D. goobers. I’d encourage you to learn from some goobers, too. At the least, please listen to the Bible when it counsels having “many advisors.” Seek out more than one teacher as you build your financial wisdom. Explore diverse viewpoints. That’s being a wise steward.
Proverbs 11:14 (AMP): Where there is no [wise, intelligent] guidance, the people fall [and go off course like a ship without a helm], But in the abundance of [wise and godly] counselors there is victory.
Dave Ramsey's "The Total Money Makeover"
The Total Money Makeover by Dave Ramsey is a no-nonsense financial guide rooted in Christian principles. As Ramsey himself says,
“…I openly discuss the spiritual in this book. As a Christian, I include some Bible verses. This is not a “Christian” book, and it for sure isn’t a Bible study on the subject of money. But this is a book about a “Proven Plan to Financial Fitness”…and that plan includes addressing the spiritual issues surrounding money.” (xviii)
WHAT THE BOOK DOES WELL:
With clear and actionable steps, Ramsey helps readers take control of their financial lives and move toward places of peace and generosity. The book is valuable if you want to manage your money wisely, get out of debt, and build wealth.
For me, this book had two key strengths:
The book emphasizes specific steps that anyone can take to move out of financial struggle. (I’ve had my fill of books filled with numbers and theory. This one is practical.)
It includes giving and generosity as pieces of the overall plans. (I actually wish Ramsey had hit this aspect harder. More on that later.)
RANDY’S REFLECTIONS:
Ramsey’s stress on living debt-free convicts me whenever I pick up one of his books. While we (Randy and Gwyn) are essentially debt-free other than our mortgage, I always feel that extra boost of encouragement to rid ourselves even of the mortgage when I read or listen to Dave. (Yes, that may mean not taking full advantage of financial “leverage” as suggested by some financial coaches, but… Well, that’s a topic for another day. “Using” debt is an interesting discussion all its own.)
You likely already know how much I encourage building up an emergency fund. It is a biblical principle to save for the future to ensure we are prepared for unexpected challenges. Ramsey’s use of that concept reminded me of Joseph in Egypt, storing up during times of plenty to sustain during times of scarcity.
As my longer-term readers know, I’m also all about giving – and it pleased me to see Ramsey encouraging giving as well:
“Giving is possibly the most fun you will ever have with money… Every mentally and spiritually healthy person I’ve met has been turned on by giving as long as it didn’t mean his own lights got cut off. I can promise you from meeting with literally thousands of millionaires that the thing the healthy ones share in common is a love of GIVING.” (189)
“If you want to help someone, many times you can’t do so without money. The Bible states that pure religion is actually helping the poor, not theorizing over why they are poor (see James 1:27). Margaret Thatcher said, ‘No one would remember the good Samaritan if he’d only had good intentions; he had money as well.’ The good Samaritan had a good heart and a heavy enough purse to pay an innkeeper to help take care of the injured man. Money was involved. Money was at its best that day. Money gives power to good intentions. That’s why I’m unashamedly in favor of building wealth.” (190)
Is the book a flawless masterpiece? No, but if you are floundering financially, this book does have the potential to help you move into a better place. I do feel for Ramsey, though, as he has critics liking it and disliking it for the same reasons. Writing a book based on biblical principles but not having it be overtly spiritual must be like trying to navigate a ship through stormy seas. It’s tricky.
Some people don’t like the book because Ramsey includes spiritual thoughts in his teachings, and others don’t believe his writing is spiritual enough. It is a fine line he’s traveling, but the fact that he has critics on both sides tells me he may have taken a reasonable course. Why? To garner detractors on both sides, he had to write a book that got Christians and non-Christians to read it!
Readers also criticize Ramsey’s presentation style. Although he is very straightforward, his tough-love and no-nonsense approaches sometimes seem to lack empathy. I get it, but I’ll take straightforward any day.
Other critics disagree with his one-size-fits-all approaches to debt and investing; some even disagree with the amount ($1,000) he suggests for a starter emergency fund. I may weigh in on some of those topics in later posts, but for now, let Proverbs 15:22 (NIV) be your guide:
Plans fail for lack of counsel, but with many advisers, they succeed.
Reading or listening to multiple money counselors as part of your quest for financial wisdom and guidance has solid support from scripture. Take the best from each counselor to fit your situation. And since I’ve been sharing some of my frailties throughout my posts, I will ask you to remember this about all your advisors: Advisors are humans, too, and there may be times when you need to separate the wisdom from the person. There. Now I feel better.
CONCLUSION: “The Total Money Makeover” gets four out of five stars from me. It is one of Ramsey’s signature works but needs to be contextualized with the lessons he expands on in his later books. I found this one heavier on “winning” by accumulating wealth and less about giving and generosity than some of his recent works. This book emphasizes family legacies and the personal freedom that comes with wealth. Ramsey encourages giving and generosity but shies away from the emphasis I prefer, which is to present the use of money to build God’s Kingdom here on earth as foundational. He does talk about generosity, but I hoped to see a heavier lean in the direction of stewarding or managing God's resources for Kingdom purposes. With that caveat, I still recommend this book to anyone looking for no-nonsense, practical steps to help transform their financial situations and improve their money management.
Please note that Ramsey is not a licensed financial advisor. Dave does a great job of motivating people to get out of debt and be responsible with their finances, and I applaud that. Just be careful not to put all your faith in advice from a single source. Explore diverse viewpoints.
My ChFC and RICP are postgraduate designations from the American College of Financial Services. Ramsey calls people like my professors there “Supernerd Goobers.” I, for one, am happy to have been able to study under those Ph.D. goobers. I’d encourage you to learn from some goobers, too. At the least, please listen to the Bible when it counsels having “many advisors.” Seek out more than one teacher as you build your financial wisdom. Explore diverse viewpoints. That’s being a wise steward.
Proverbs 11:14 (AMP): Where there is no [wise, intelligent] guidance, the people fall [and go off course like a ship without a helm], But in the abundance of [wise and godly] counselors there is victory.
April 15, 2024
HANDLING THE PARALYSIS OF TOO MANY CHOICES WITH YOUR MONEY
Probably not, since it’s a word I just made up. Here’s the story: Are you familiar with the musical percussion instrument called the Xylophone?
As you’ll recall, it has wooden bars of various lengths that are struck with mallets. Don’t quote me on this, but I think they have about 28 “bars” from which the player can choose. For me, that’s about 27 too many choices!
I find it interesting that the name “xylophone” comes from Greek words that mean “wooden sound” because that’s so like the sound my neighbors might hear when I’m confronted with too many investment choices. (In reality, it is just the sound of my head striking the wall.)
“Xylophobia” is a word I made up to describe the fear and paralysis we sometimes face when confronted with too many choices. We have some money, but so many investment, giving, and debt-reduction choices are available that we freeze and do nothing.
Yes, there are many saving and investment choices. Same for giving choices. And even sometimes choices about which debt to pay off first. Should that cause us to freeze up and take no action? No. We should learn as much as possible, consult several people who are good with money management, pray, and make our best decisions.
Why “several” people? Proverbs 15:22 (NIV) says,
Plans fail for lack of counsel, but with many advisers, they succeed.
Proverbs 11:14 and 24:6 also mention the value of having “an abundance of counselors.” We are wise when we seek input and advice from a wide range of others rather than relying on our limited knowledge or intuition. Of course, we must also be careful about what kind of counselors we seek. You wouldn’t seek your podiatrist about your tooth pain, right? And no one always gets it right; even wise people can see things differently.
Don’t let Xylophobia panic you into inaction. If we are investing, we should invest somewhere rather than freak out and do our investing at the mall. If we are giving, we should give somewhere rather than not giving at all. And if you are trying to reduce your debts, ANY reduction, regardless of which debt, is forward progress! Remember, even if you make a poor choice, you can still learn from your mistakes. Get your money out there. That’s what good stewards do.
Cow Pies Next 75 Miles
The road to good stewardship and financial peace can be challenging: sloppy, stinky, and
squishy, kind of like the fields that surrounded the town I grew up in. (Cows outnumbered humans in our area by about five or six to one, if that gives you a clue. Thank God for boots.)
No matter the current financial conditions, the state of the economy, the level of interest rates, the rate of inflation, or the cost of groceries (some recent financial cow pies we’ve all been facing), the road to excellent stewardship is always open. Here’s a list of things you can do to ensure that you are continuing forward along that beautiful but sometimes challenging road:
1) Ask yourself: “What one thing can I do to save some money today?” Do that one thing.
2) Make it a daily goal to spend at least a few minutes gaining more financial knowledge and wisdom.
Here are two books to start your learning:
a. The Total Money Makeover by Dave Ramsey (2013) is a master class with easy steps for anyone struggling with debt and credit cards. [Review coming soon.]
b. The Treasure Principle by Randy Alcorn (2001) was another eye-opener and life-changer for me.
3) Find ways to contribute. What can you give others who are having difficulty? You’ll be amazed how your anxiety lessens when focusing on helping someone else.
4) Reduce the mental and physical clutter that surrounds you. Clutter prevents clarity. Small amounts of daily time in this practice pay big dividends. I have two books to recommend here as well:
a. Clutter Busting by Brooks Palmer is full of inspiring stories and valuable tips for dealing with physical clutter.
b. Kurt Bruner’s Traveling Light is a good book if you want to reduce mental clutter and increase clarity in your thinking.
5) Remember that you don’t have to have perfect clarity about your direction before you take any action.
6) Continue taking small steps in the direction that (prayerfully) seems best to you.
Question: “I am in debt but have a small amount of extra cash available. Should I put my extra cash toward paying off my debt or growing my emergency fund?”
Answer: Generally, debt reduction would come first because debts usually have higher interest rates. You want to have interest working in your favor, not against you. That said, I believe the best answer for you will come from asking: “Which use of this money will reduce my stress the most?” If building your emergency fund will reduce your stress more than putting extra money toward your debts, then put some (or all) of the money in the emergency fund. It may not be the “logical” decision, but if it reduces your stress, that’s an okay trade-off.
PS: Don’t forget there is a third option: giving the money to someone with even more critical needs than your own. If your action is a prayerful, considered response to the love God has shown you, it could be the best decision of all.
SOMETIMES, ILLOGICAL DECISIONS ARE THE BEST!
Are you familiar with the musical percussion instrument called the Xylophone?
As you’ll recall, it has wooden bars of various lengths that are struck with mallets. Don’t quote me on this, but I think they have about 28 “bars” from which the player can choose. For me, that’s about 27 too many choices!
I find it interesting that the name “xylophone” comes from Greek words that mean “wooden sound” because that’s so like the sound my neighbors might hear when I’m confronted with too many investment choices. (In reality, it is just the sound of my head striking the wall.)
“Xylophobia” is a word I made up to describe the paralysis we sometimes face when confronted with too many choices. We have some money, but so many investment choices are available that we freeze and do nothing.
Yes, there are many saving and investment choices. Should that cause us to freeze up and take no action? No. We should learn as much as possible, consult several people who are good with money management, pray, and make our best decisions.
Why “several” people? Proverbs 15:22 (NIV) says,
Plans fail for lack of counsel, but with many advisers, they succeed.
Proverbs 11:14 and 24:6 also mention the value of having “an abundance of counselors.” We are wise when we seek input and advice from a wide range of others rather than relying on our limited knowledge or intuition. Of course, we must also be careful about what kind of counselors we seek. You wouldn’t seek your podiatrist about your tooth pain, right? And no one always gets it right; even wise people can see things differently.
Don’t let Xylophobia panic you into inaction. We should invest somewhere rather than freak out and do our investing at the mall. Remember, even if you make a poor choice, you can still learn from your mistakes. Get your money out there. That’s what good stewards do.
Cow Pies Next 75 Miles
The road to good stewardship and financial peace can be challenging: sloppy, stinky, and
squishy, kind of like the fields that surrounded the town I grew up in. (Cows outnumbered humans in our area by about five or six to one, if that gives you a clue. Thank God for boots.)
No matter the current financial conditions, the state of the economy, the level of interest rates, the rate of inflation, or the cost of groceries (all the financial cow pies), the road to stewardship is always open. Here’s a list of things you can do to ensure that you are continuing forward along the beautiful but sometimes challenging road we call stewardship:
1) Ask yourself: “What one thing can I do to save some money today?” Do that one thing.
2) Make it a daily goal to spend at least a few minutes gaining more financial knowledge and wisdom.
Here are two books to start your learning:
a. The Total Money Makeover by Dave Ramsey (2013) is a master class with easy steps for anyone struggling with debt and credit cards. [Review coming soon.]
b. The Treasure Principle by Randy Alcorn (2001) was another eye-opener and life-changer for me.
3) Find ways to contribute. What can you give others who are having difficulty? You’ll be amazed how your anxiety lessens when focusing on helping someone else.
4) Reduce the mental and physical clutter that surrounds you. Clutter prevents clarity. Small amounts of daily time in this practice pay big dividends. I have two books to recommend here as well:
a. Clutter Busting by Brooks Palmer is full of inspiring stories and valuable tips for dealing with physical clutter.
b. Kurt Bruner’s Traveling Light is a good book if you want to reduce mental clutter and increase clarity in your thinking.
5) Remember that you don’t have to have perfect clarity about your direction before you take any action.
6) Continue taking small steps in the direction that (prayerfully) seems best to you.
Question: “I am in debt but have a small amount of extra cash available. Should I put my extra cash toward paying off my debt or growing my emergency fund?”
Answer: Generally, debt reduction would come first because debts usually have higher interest rates. You want to have interest working in your favor, not against you. That said, I believe the best answer for you will come from asking: “Which use of this money will reduce my stress the most?” If building your emergency fund will reduce your stress more than putting extra money toward your debts, then put some (or all) of the money in the emergency fund. It may not be the “logical” decision, but if it reduces your stress, that’s an okay trade-off.
PS: Don’t forget there is a third option: giving the money to someone with even more critical needs than your own. If your action is a prayerful, considered response to the love God has shown you, it could be the best decision of all.
Xylophobia
Are you familiar with the musical percussion instrument called the Xylophone?
As you’ll recall, it has wooden bars of various lengths that are struck with mallets. Don’t quote me on this, but I think they have about 28 “bars” from which the player can choose. For me, that’s about 27 too many choices!
I find it interesting that the name “xylophone” comes from Greek words that mean “wooden sound” because that’s so like the sound my neighbors might hear when I’m confronted with too many investment choices. (In reality, it is just the sound of my head striking the wall.)
“Xylophobia” is a word I made up to describe the paralysis we sometimes face when confronted with too many choices. We have some money, but so many investment choices are available that we freeze and do nothing.
Yes, there are many saving and investment choices. Should that cause us to freeze up and take no action? No. We should learn as much as possible, consult several people who are good with money management, pray, and make our best decisions.
Why “several” people? Proverbs 15:22 (NIV) says,
Plans fail for lack of counsel, but with many advisers, they succeed.
Proverbs 11:14 and 24:6 also mention the value of having “an abundance of counselors.” We are wise when we seek input and advice from a wide range of others rather than relying on our limited knowledge or intuition. Of course, we must also be careful about what kind of counselors we seek. You wouldn’t seek your podiatrist about your tooth pain, right? And no one always gets it right; even wise people can see things differently.
Don’t let Xylophobia panic you into inaction. We should invest somewhere rather than freak out and do our investing at the mall. Remember, even if you make a poor choice, you can still learn from your mistakes. Get your money out there. That’s what good stewards do.
Cow Pies Next 75 Miles
The road to good stewardship and financial peace can be challenging: sloppy, stinky, and
squishy, kind of like the fields that surrounded the town I grew up in. (Cows outnumbered humans in our area by about five or six to one, if that gives you a clue. Thank God for boots.)
No matter the current financial conditions, the state of the economy, the level of interest rates, the rate of inflation, or the cost of groceries (all the financial cow pies), the road to stewardship is always open. Here’s a list of things you can do to ensure that you are continuing forward along the beautiful but sometimes challenging road we call stewardship:
1) Ask yourself: “What one thing can I do to save some money today?” Do that one thing.
2) Make it a daily goal to spend at least a few minutes gaining more financial knowledge and wisdom.
Here are two books to start your learning:
a. The Total Money Makeover by Dave Ramsey (2013) is a master class with easy steps for anyone struggling with debt and credit cards. [Review coming soon.]
b. The Treasure Principle by Randy Alcorn (2001) was another eye-opener and life-changer for me.
3) Find ways to contribute. What can you give others who are having difficulty? You’ll be amazed how your anxiety lessens when focusing on helping someone else.
4) Reduce the mental and physical clutter that surrounds you. Clutter prevents clarity. Small amounts of daily time in this practice pay big dividends. I have two books to recommend here as well:
a. Clutter Busting by Brooks Palmer is full of inspiring stories and valuable tips for dealing with physical clutter.
b. Kurt Bruner’s Traveling Light is a good book if you want to reduce mental clutter and increase clarity in your thinking.
5) Remember that you don’t have to have perfect clarity about your direction before you take any action.
6) Continue taking small steps in the direction that (prayerfully) seems best to you.
Question: “I am in debt but have a small amount of extra cash available. Should I put my extra cash toward paying off my debt or growing my emergency fund?”
Answer: Generally, debt reduction would come first because debts usually have higher interest rates. You want to have interest working in your favor, not against you. That said, I believe the best answer for you will come from asking: “Which use of this money will reduce my stress the most?” If building your emergency fund will reduce your stress more than putting extra money toward your debts, then put some (or all) of the money in the emergency fund. It may not be the “logical” decision, but if it reduces your stress, that’s an okay trade-off.
PS: Don’t forget there is a third option: giving the money to someone with even more critical needs than your own. If your action is a prayerful, considered response to the love God has shown you, it could be the best decision of all.
April 8, 2024
RANDY ALCORN'S "THE TREASURE PRINCIPLE: UNLOCKING THE SECRET OF JOYFUL GIVING"
Have you ever felt like you were receiving “heavenly guidance” toward the right book just when you needed it? I have. Such was the case when I came across Randy Alcorn’s The Treasure Principle.
The title and subtitle both caught my attention. From the title, I thought, “Who wouldn’t like to read about Treasure?” And I’m always up to learning some new Principles.” Then, when I read the subtitle, “Unlocking the Secret of Joyful Giving,” I thought, “Secrets? Hey, I love secrets!” Alcorn had me.
So, I started reading the book [Note the photographer’s representation of me reading the GIANT PRINT version!], and the short of it is that The Treasure Principle became one of my all-time favorite books in the Christian/Money/Giving category.
Take Note: The Treasure Principle may challenge you to reevaluate your wealth, generosity, and stewardship perspectives. It did for me.
Alcorn encourages us to live lives of radical generosity that reflect God’s heart toward us. Shouldn’t our giving flow from a deep reverence for God as the ultimate owner and provider of all things? How much better would it be to invest in heavenly treasures with eternal significance?
Why not live with mindsets of stewardship and generosity rather than indulgence and self-centeredness?
Why not see our resources as opportunities to bless others and demonstrate our faithfulness in administering God’s wealth?
Why not see wealth as a responsibility God gives us rather than a measure of our success or security?
Alcorn isn’t just giving us financial advice. He’s calling us to align our wealth management with God’s principles. Earthly wealth is temporary, but investing in God’s Kingdom has lasting value.
God owns everything, and we are His stewards. Everything we possess, including our time, talents, money, and resources, are entrusted to us by God for His purposes.
We are managers, not owners. We should seek wisdom to help us manage our resources, utilizing them for God’s purposes.
When we use our resources to further God’s Kingdom and help others in need, we invest in “eternal” treasures. Doing so will bring us greater fulfillment than pursuing “temporary” wealth or comfort.
Summarized, the heart of the book is the principle of storing up treasures in heaven rather than on earth, as Jesus instructs in Matthew 6: 19-21 (NIV):
“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
Quote Number One:
In Isaiah 58:6-10, God says that His willingness to answer our prayers is directly affected by whether we are caring for the hungry, needy, and oppressed. Want to empower your prayer life? Give. (33)
Have you ever seen an author make a connection between giving and an empowered prayer life? I hadn’t. I went right over to Isaiah 58 to check it out. Alcorn was right! Verse seven talks about sharing our food with the hungry, sheltering the poor wanderer, and clothing the naked. The results of those actions start in verse eight, and sure enough, verse nine says, “Then you will call, and the Lord will answer your cry for help, and he will say: Here am I.” Wow. That’s a spectacular promise!
Quote Number Two:
Suppose you have something important you want to get to someone who needs it. You wrap it up and hand it over to the FedEx guy. What would you think if, instead of delivering the package, he took it home, opened it, and kept it for himself?You’d say, “This guy doesn’t get it. The packages don’t belong to him. He’s just the middleman. His job is to get them from me to the person I want him to hand them off to.” Just because God puts His money in our hands doesn’t mean He intends for it to stay there. (76-77)
Gosh. I wonder how often I was supposed to be the FedEx “delivery” person and completely dropped the ball. Receiving unforeseen additional resources isn’t that uncommon. Could God have been testing me with opportunities to bless others and to demonstrate my faithfulness in stewarding His resources? Perhaps in ways that would have eternal significance for His Kingdom? [Thankfully, you can’t see me blushing. I sure hope I get the next one right.]
Conclusion:
In a world where materialism and greed seem to reign supreme, Randy Alcorn’s book, The Treasure Principle, is a powerful reminder of the eternal perspective we are called to have as followers of Jesus Christ.
The Treasure Principle isn’t merely a call to give. It is a call to live with a radical trust in God’s provision and a deep commitment to honoring Him with our resources. Alcorn helps us view our finances through a scriptural lens, encouraging us to shift from mere accumulation to more intentional, God-honoring stewardship.
Alcorn also reminds us that generosity is a deliberate and intentional lifestyle choice. Our financial choices need not be just transactions; they can be spiritual investments, bringing priceless treasure and liberating joy our way.
The Treasure Principle nudged me farther from wealth accumulation and materialism and closer to being a faithful overseer and manager of God’s resources. That’s a winning result.
FIVE STARS. HIGHLY RECOMMENDED.
Randy Alcorn's "The Treasure Principle: Unlocking the Secret of Joyful Giving"
Have you ever felt like you were receiving “heavenly guidance” toward the right book just when you needed it? I have. Such was the case when I came across Randy Alcorn’s The Treasure Principle.
The title and subtitle both caught my attention. From the title, I thought, “Who wouldn’t like to read about Treasure?” And I’m always up to learning some new Principles.” Then, when I read the subtitle, “Unlocking the Secret of Joyful Giving,” I thought, “Secrets? Hey, I love secrets!” Alcorn had me.
So, I started reading the book [Note the photographer’s representation of me reading the GIANT PRINT version!], and the short of it is that The Treasure Principle became one of my all-time favorite books in the Christian/Money/Giving category.
Take Note: The Treasure Principle may challenge you to reevaluate your wealth, generosity, and stewardship perspectives. It did for me.
Alcorn encourages us to live lives of radical generosity that reflect God’s heart toward us. Shouldn’t our giving flow from a deep reverence for God as the ultimate owner and provider of all things? How much better would it be to invest in heavenly treasures with eternal significance?
Why not live with mindsets of stewardship and generosity rather than indulgence and self-centeredness?
Why not see our resources as opportunities to bless others and demonstrate our faithfulness in administering God’s wealth?
Why not see wealth as a responsibility God gives us rather than a measure of our success or security?
Alcorn isn’t just giving us financial advice. He’s calling us to align our wealth management with God’s principles. Earthly wealth is temporary, but investing in God’s Kingdom has lasting value.
God owns everything, and we are His stewards. Everything we possess, including our time, talents, money, and resources, are entrusted to us by God for His purposes.
We are managers, not owners. We should seek wisdom to help us manage our resources, utilizing them for God’s purposes.
When we use our resources to further God’s Kingdom and help others in need, we invest in “eternal” treasures. Doing so will bring us greater fulfillment than pursuing “temporary” wealth or comfort.
Summarized, the heart of the book is the principle of storing up treasures in heaven rather than on earth, as Jesus instructs in Matthew 6: 19-21 (NIV):
“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
Quote Number One:
In Isaiah 58:6-10, God says that His willingness to answer our prayers is directly affected by whether we are caring for the hungry, needy, and oppressed. Want to empower your prayer life? Give. (33)
Have you ever seen an author make a connection between giving and an empowered prayer life? I hadn’t. I went right over to Isaiah 58 to check it out. Alcorn was right! Verse seven talks about sharing our food with the hungry, sheltering the poor wanderer, and clothing the naked. The results of those actions start in verse eight, and sure enough, verse nine says, “Then you will call, and the Lord will answer your cry for help, and he will say: Here am I.” Wow. That’s a spectacular promise!
Quote Number Two:
Suppose you have something important you want to get to someone who needs it. You wrap it up and hand it over to the FedEx guy. What would you think if, instead of delivering the package, he took it home, opened it, and kept it for himself?You’d say, “This guy doesn’t get it. The packages don’t belong to him. He’s just the middleman. His job is to get them from me to the person I want him to hand them off to.” Just because God puts His money in our hands doesn’t mean He intends for it to stay there. (76-77)
Gosh. I wonder how often I was supposed to be the FedEx “delivery” person and completely dropped the ball. Receiving unforeseen additional resources isn’t that uncommon. Could God have been testing me with opportunities to bless others and to demonstrate my faithfulness in stewarding His resources? Perhaps in ways that would have eternal significance for His Kingdom? [Thankfully, you can’t see me blushing. I sure hope I get the next one right.]
Conclusion:
In a world where materialism and greed seem to reign supreme, Randy Alcorn’s book, The Treasure Principle, is a powerful reminder of the eternal perspective we are called to have as followers of Jesus Christ.
The Treasure Principle isn’t merely a call to give. It is a call to live with a radical trust in God’s provision and a deep commitment to honoring Him with our resources. Alcorn helps us view our finances through a scriptural lens, encouraging us to shift from mere accumulation to more intentional, God-honoring stewardship.
Alcorn also reminds us that generosity is a deliberate and intentional lifestyle choice. Our financial choices need not be just transactions; they can be spiritual investments, bringing priceless treasure and liberating joy our way.
The Treasure Principle nudged me farther from wealth accumulation and materialism and closer to being a faithful overseer and manager of God’s resources. That’s a winning result.
FIVE STARS. HIGHLY RECOMMENDED.
March 27, 2024
LOOKING BACK, PLANNING FORWARD: SURRENDERING TO TIME
Happy (belated) 2024! I’ve been absent from posting new thoughts for a while as I worked to upgrade this website. Hopefully, you will like the new look and the new content [adding Book Reviews and a section that will focus on Prayer(s)], and the wait will have been worth it. As I write this, I’m now five months into life as a septuagenarian and have started reflecting on life in my 70’s. Like everyone else, I have no idea if my remaining time will be a matter of hours, days, months, or some (now well reduced!) number of years.
As befits a new year, I’ve been looking back, planning forward, and thinking about my Christian “surrender” to God in those contexts.
I understand surrendering my life, talents, and treasures, but lately (because I have less of it) I’ve been considering a different kind of surrender…surrendering my time.
“What does surrendering my time even mean?” I asked myself. The main key, I decided, must be the act of letting go of expectations - allowing God’s plans to unfold naturally without trying to force or manipulate outcomes. (Well, that’s easy. Yeah, right.)
So, surrendering to time must mean trusting that God is in control and that He has a purpose for every moment of our lives. Reflecting on my past years meant accepting both the ups and downs of life, the joyful events and the challenges, and seeking God's guidance and strength to navigate them all.
I’ve had many joyful years, but also some with intense challenges. Wow, have I had some challenges! (Being laid off at age 51 after 28 years with the same company was one. Facing family medical bills of over $250,000 was another. We could probably include my being born prematurely, living in an incubator [and then a shoebox, too!] – but my memory is vague on that period of difficulty.) But God brought me through them all. Praise Him for that.
Looking ahead to 2024, an old saying came to mind: “God can't steer parked cars.”
I believe pastor and author Rick Warren to be the author of the following quote I like a lot, but haven’t been able to determine it for sure:
“There are things you already know God wants you to do. Just start moving on those things. We can’t do everything in life, but we can certainly do everything God wants us to do.”
That’s advice worth contemplating as we start any new year or new period in our lives.
So, what if I AM down to my last year on earth? Are there things I would do differently if I knew that to be true? Yes. These were first to my mind:
· I’d eat and drink less but enjoy both more.
· I’d spend less time with the news and more time praying.
· I’d spend more time listening and less time talking.
· I’d spend more time reading my Bible and less on frivolous activities.
· I’d stop more often to ask, “What is the wise thing to do?”
· I’d relax more and worry less.
· I’d spend more time doing the important things, and less time on the urgent.
· I’d give and collect more hugs and kisses.
· I’d say “I love you” more often.
· I’d express gratitude more often.
· I’d frown less and smile more.
· I’d live more fully in the present and less in the past or future.
· I’d be more forgiving.
· I’d only floss the teeth I want to keep. (If I hear you laugh, I'll know you're still here.)
· I’d donate more to charities and faith leaders.
· I’d spend more time writing – and sharing ideas I hope will outlive me.
· I’d spend more time in the presence of my Heavenly Father.
And, finally, I’d remind myself that these really ARE my last months or years on earth, no matter how many or how few, ask myself, “What am I waiting for?” and quit being a parked car.
PS: To clarify, I was told I “fit” in a shoebox as a preemie (albeit a men’s size 12), but I wasn’t told that I lived there. Hopefully, that relieves you a bit about it.
