Today at Master Your Money

Transcendent Planning Principles - #5 (Give Generously)

Master Your Money — Thu, 19 Jan 2012 20:00:00 GMT

Dear Friends,

Today I get to talk with you about one of the subjects I am most passionate about: generosity. I firmly believe that generosity is the key to financial contentment and to financial freedom.

Jesus’ economic views never line up with the “seek security for retirement” mindset that we, as Americans, have as a bedrock for our financial pursuits. Rather, Jesus said things like, “go, sell all that you have, and distribute it to the poor” (to the Rich ...

Transcendent Planning Principles - #4 (Set Long Term Goals)

Master Your Money — Thu, 05 Jan 2012 18:00:00 GMT

Dear Friends:

Today, as we consider the fourth of six fundamental financial decision making principles, I want to give you some condensed teaching on goal setting from my book, Master Your Money. Goal setting has been a favorite teaching topic of mine since I first began to counsel believers in the early 1970s on their financial choices. Over time, I’ve distilled some points that I believe will provide a very important framework for you.

First of all, there are four ...

Transcendent Planning Principles - #3 (Build Margin)

Master Your Money — Wed, 30 Nov 2011 18:00:00 GMT

Dear Friends:

When I tape the videos for these weekly blogs, I tape several at a time. When I taped this series of six videos, I did not realize that this particular one would fall in between Thanksgiving and Christmas. However, I think that this message of building flexibility and margin is even more poignant during this season.

In my mind, this is the season when materialism and faith tend to clash most vividly. We seek to turn our hearts toward ...

Transcendent Planning Principles - #2 of 6 (Debt)

Master Your Money — Wed, 09 Nov 2011 16:00:00 GMT

Dear Friends,

Financial peace of mind…financial freedom…financial contentment…all of these phrases reflect our desire to be rid of the anxiety that our money decisions cause. We can easily fall prey to our own personal “thought loops” about finances. We replay current or future financial situations over and over in our heads. My wife calls these thinking patterns “tapes” (or should we say CDs or even MP3 files?...) that play in our heads. She often tells younger people to replace an old “tape” with a new ...

Transcendent Planning Principles - #1 of 6

Master Your Money — Wed, 26 Oct 2011 17:00:00 GMT

Dear Friends,

Over the last forty years of giving financial advice, I am consistently grateful to be able to help people who are struggling with financial worries or decisions to simplify their understanding and their plan of action.

Years ago, in the early 1990s, I was asked to testify before a Senate Sub-committee that was meeting to discuss, “Solutions for the New Era – Jobs and Families.” I am not a man who runs in powerful political circles, and I ...

Is insurance a lack of faith?

Master Your Money — Wed, 12 Oct 2011 18:00:00 GMT

Dear Friends,

I Timothy 5:8 (NASB ) says, “But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever.”

In my opinion, this verse makes a strong case for providing insurance for your family. In biblical times, when a father passed away, his oldest son took on the breadwinner’s responsibility. If that father had no son, his brother then undertook the job of taking ...

Health Insurance when Unemployed

Master Your Money — Wed, 28 Sep 2011 20:00:00 GMT

Dear Friends,

In last week’s video about insurance, I referenced one of my wife’s favorite sayings. She often says, “it’s better to have it and not need it then need it and not have it.” When I think about health insurance, I believe very strongly that we all need some form of health insurance. Falling ill while uninsured can add financial catastrophe to physical brokenness.

As I mentioned today, the best way to determine your insurance options is to do research. ...

Insurance: Should I have either disability or flood coverage?

Master Your Money — Wed, 14 Sep 2011 21:00:00 GMT

Dear Friends:

The topic of disability or flood insurance is a fairly dry one. I can’t say that I’ve had many riveting conversations with friends lately around those two issues. However, considering where your risks exist and knowing the extent to which you are willing to absorb those risks is an important “to do” as a head of household.

In my book with Jeremy White, Complete Guide to Faith-Based Family Finances, I mention that, “the basic purpose of insurance is to ...

New Healthcare Changes – What Do They Mean to Me?

Master Your Money — Wed, 31 Aug 2011 16:00:00 GMT

Dear Friends:

Healthcare costs can be prohibitive. My wife, Judy, and I are both over the age of 65, and we’ve seen a distinct increase in our cost of healthcare over the last several years due to the natural effects of the aging process. Just yesterday, my wife went to two doctors.

It’s not just people who are Social Security age who feel threatened by the rising cost of health care, though. Whether you are a recent college graduate who can ...

How much life insurance do I need?

Master Your Money — Wed, 17 Aug 2011 13:00:00 GMT

Dear Friends:

In today’s video, I mentioned that there are two critical questions to ask when determining how much life insurance you need. First is, “How much do I need?” Second is, “How much can I afford?”

Answering the first question depends on understanding that life insurance is a tool God gives us to provide for our families in the event of our death. Often, insurance is sold through fear scenarios that emphasize the need for you to protect your ...

Perspective on husband and wife communication about money

Master Your Money — Wed, 27 Jul 2011 21:00:00 GMT

Dear Friends,

I often say that our money issues are merely symptomatic of our heart’s issues. This fact is magnified in marriage, when two people’s “stuff” is brought to light when money dilemmas arise. Judy and I still disagree about our finances as much as or more than we disagree about anything else in our marriage, even after nearly 50 years together. God has certain tools that He uses more frequently than others, and money is one of His favorites!

One of the best pieces of advice ...

Lessons from the Sale of a House

Master Your Money — Fri, 08 Jul 2011 21:00:00 GMT

Dear Friends:

The housing market in the United States has been wracked with trauma over the last several years. I have a daughter who was terribly affected by the downturn in the Florida market, and I have a son and daughter in law who decided to do a renovation in their townhome to make space for their two children rather than trying to move in the current market. As I mentioned in the video, Judy and I were wanting to downsize our lifestyle by selling our second home, but we could not find ...

How has God moved in your family’s finances?

Master Your Money — Fri, 17 Jun 2011 20:00:00 GMT

Dear Friends:

One of my favorite verses in Scripture is Psalm 37:25, “I was young and now I am old, yet I have never seen the righteous forsaken or their children begging bread.” (NIV) God’s faithfulness is so much more profound than our obedience or responsiveness to Him could ever be. His provision is far beyond our ability to create or control.

If you study the entire chapter of Psalm 37, you will find several financial principles at work – the principle of generosity is in verse 26, the ...

How Does God Bless Financially?

Master Your Money — Fri, 03 Jun 2011 19:00:00 GMT

Dear Friends,

I enjoyed celebrating Memorial Day this past week with one of my daughters and her family. As we come into the season of national holidays (Memorial Day, July Fourth, and Labor Day), I am reminded that there are blessings far beyond material wealth in our country. The American blessings of freedom and work lay the groundwork for our ability to achieve and excel financially in our country.

Today, in the video, I talked about how God blesses us financially. I would argue that financial blessings are ...

How Does God Lead Financially?

Master Your Money — Fri, 20 May 2011 18:00:00 GMT

Dear Friends,

I am fond of saying, a bit tongue in cheek, that the greatest spiritual indicator in our lives is our checkbook. While the saying is a little humorous, it reflects the truth that Jesus taught when He said, “Where your treasure is, there your heart will be also.” (Luke 12:34, NAS
My life has been spent watching God grab hold of people’s hearts by catching their attention with their finances – abundance or lack, challenge or blessing, inheritance or the fruit of hard work – every financial ...

Looking to God when starting a business

Master Your Money — Fri, 06 May 2011 21:00:00 GMT

Dear Friends,

I spent a few days last week with some financial advisors who are earnestly seeking to follow the Lord in how they implement their faith in the workplace. It is so energizing to me to be with people who are following God at work. If you are endeavoring to follow God at work each day (whether you run your own company or are an employee), it is important to remember Jesus’ teaching in John 17: 13 – 19 (NIV), “I am coming to You now, but I say these things while ...

Advice about home-based businesses

Master Your Money — Thu, 21 Apr 2011 20:00:00 GMT

Dear Friends,

Over the last 25 years or so, the “home based business” segment of the economy has grown tremendously. You can probably think of at least three products or services, off the top of your head, which are available to you through a friend or neighbor who works from home.

The decision to work from home involves answering at least two questions: what is motivating me to work from home, and do I have a solid business that I can do from home?

...

Am I called to start a business?

Master Your Money — Fri, 08 Apr 2011 16:00:00 GMT

Dear Friends:

Because God knew we would need wisdom in our decision-making, He gave us a lens through which we can view our decisions. In Scripture, it is clear over and over that God is the owner of all and that we are stewards of the gifts, talents, treasure, and time that He has entrusted to us. If you are beginning a business, I encourage you to use the lens of stewardship to make wise choices.

My definition of biblical stewardship is, “the use of God-given gifts and resources ...

Should I start a business?

Master Your Money — Fri, 01 Apr 2011 20:10:00 GMT

Dear Friends,

Rarely has there been a country in history that has as much entrepreneurial opportunity as in America over the last 250 years or so. We live in a land of freedom and in an age of opportunity. Most of us were raised on the “American Dream,” and were taught to take advantage of opportunities that we either create or encounter.
However, in the last few years, as we have experienced a somewhat downward trend in the economy, Americans have generally felt less optimistic about job prospects, the future of their ...

Tax Credits vs. Tax Deductions

Master Your Money — Fri, 25 Mar 2011 16:00:00 GMT

Dear Friends,

I hope that the videos this week and last week will encourage you that you are not alone in feeling confused or overwhelmed by tax preparation. It is very normal to worry that you are “missing something” on your taxes when you prepare them yourself or to worry that you might be inadvertently violating a tax law that you aren’t fully informed about. For those reasons, as I said last week, it can be a very wise move to get professional help in preparing your tax return, especially if you have ...