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Are you raising your children to become financially independent?

Posted by Chuck Bentley

Feb 23, 2015 11:05:00 AM

3 John 1:4 says, “I have no greater joy than to see my children walking in the Truth.” Amen to that!  I would add my own corollary…I have no greater relief than to see my children able to pay their own way when they become adults….

We all want to help our children financially, but it is more important to teach them to become financially independent.

 

Here are some tips:

1) Start early with dividing all income, including birthday gifts, into envelopes for giving, saving and spending.  Don’t allow any income to be used without first dividing it into these important categories.  When they are young, I recommend they give 10%, save 70% and have up to 20% in a spending envelope. This changes over time.
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Topics: Personal Finance

Today, seven ways to waste your money.

Posted by Chuck Bentley

Feb 19, 2015 11:30:00 AM

 Tim Challies, a Canadian Pastor, recently wrote an article sharing the things where he personally found himself wasting his money.  I think it’s a great list for all of us.


Buying Junk:  Occasionally, it is better to spend a little more money on a quality product rather than buying something that will break almost immediately. In the long run, you will save more money by doing this.
 
The Daily Latte:  Coffee adds up quick in a year. Try brewing your own coffee at home. 
 
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Topics: Personal Finance

What are you going to do with your extra $550?

Posted by Chuck Bentley

Feb 18, 2015 11:26:00 AM

For most of us, buying gasoline below $2 per gallon feels like we got a raise, but we weren’t sure just how much.

The federal government’s Energy Information Administration estimates that the average U.S. household will spend about $550 less on gasoline in 2015 than it did in 2014, thanks in part to lower crude oil prices. This means that households will likely spend an average of $1,962 on gas this year — the first time this expenditure has been below $2,000 since 2009, the department estimates. 

So what are you going to do with your extra money?  Allow me to make a few suggestions. 

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Topics: Personal Finance

Millennial preferences may reshape traditional homeownership…

Posted by Chuck Bentley

Feb 17, 2015 11:14:00 AM

 Nearly six in ten millennials (59%) say they’d rather rent a home than buy one, with just one in four saying they are either “very likely” or “completely likely” to purchase a home in the next five years, according to a survey of 1,300 millennials, released by Elite Daily and Millennial Branding.  This anti-home-buying trend can already be seen: Currently, only about one in four millennials own a home, down from about one in three in the mid-70s and early 80s, according to data from the Demand Institute.

 

Why this shift away from owing a home? According to Dan Schawbel, founder of Millennial Branding:

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Topics: Personal Finance

Money can’t buy happiness… don’t believe me?

Posted by Chuck Bentley

Feb 16, 2015 11:30:00 AM

William “Bud” Post won $16.2 million in 1988. A former girlfriend who wanted the money sued him, and his brother hired a hit man, hoping to murder him and inherit it. Post called winning the money a “nightmare.” He died in 2006 after declaring bankruptcy.

Jeffrey Dampier won $20 million in 1996. Several years later, a sister-in-law and her boyfriend kidnapped and murdered him for the money.

John McGuiness won £10 million in 1997. He bought luxury cars and went on vacations, then lost all his money, went back to work and applied for subsidized housing. McGuiness commented, “I just want my life to get back to the way it was before.”

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Topics: Personal Finance

Show Some More Love To Your Picky Valentine

Posted by Chuck Bentley

Feb 13, 2015 1:27:00 PM

Published on February 13, 2015 by Washington Times.

It’s all hearts and flowers now, as love is in the air – literally on the airwaves – as Valentine’sDay approaches and advertisers make a play for the almost $13.2 billion in spending that occurs to express our love to the special one in our life. It’s ironic that all the hearts, flowers and chocolate are preceded by “Divorce Month.   

Sadly, after the holiday season ends, there will be about a one-third increase in divorce filings in January as too many couples decide that they want to begin their new year with an ending. It’s a tragic tale really as the hype of a romantic connection becomes big business in February even as divorce attorneys are gearing up for court.

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Topics: Personal Finance

The Taxman Cometh: Crown’s Tax Tips for 2015

Posted by Chuck Bentley

Feb 10, 2015 9:00:00 AM

TT_Facebook_-_The_Taxman_Cometh

Remember Jesus’ apostle Matthew? Even Jesus had a taxman! The Bible says that if you’re wise, you’ll have many counselors, and no where is that more needed than when you sit down to fill out your taxes.  Getting good advice is a must.

Here’s an overview of 17 tips for making your tax experience this year not only less painful, but more productive, and hopefully, leaving you with more of your own resources to invest in the work that God has given you to do.

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Topics: Personal Finance

Living Debt Free in 2015: Advice to the 4 Out of 5 Who Want to Be Free

Posted by Chuck Bentley

Feb 2, 2015 9:16:49 AM

Published on January 13th 2015 by christianpost.org.

 

when-money-threatens-your-marriage-1Saving money/paying off debt typically vies for one of the top three resolutions Americans make for each New Year. The beginning of another year offers a fresh start to achieve our goals, to focus on important milestones we need to reach and a renewed supply of optimism; but not for all.

  

A recent survey by CreditCard.com found that about one in five Americans don't believe they will ever get out of debt, a conviction that casts a tone of gloom amidst the celebrations and exuberance expressed by those ringing in the year with renewed hope.

  

But the real story in that survey is that four out of five Americans do believe they can be free - and for some timeless advice for a problem impacting most of us, the Bible offers clear help.

  

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Topics: Personal Finance

We Are All Generous

Posted by Chuck Bentley

Jan 23, 2015 9:00:00 AM

 Todd Peterson, a friend of mine and a former NFL kicker, came up with my favorite quote about generosity.

“ We are all generous… Nobody has to teach us anything about being generous.  The challenge we face and the choice we must make is are we going to only be generous towards ourselves or are we going to be generous towards God.”  

Our late founder, Larry Burkett, believed that if all American Christians used our surplus resources (those God provides beyond our foundational needs) to advance God’s Kingdom, that we have been entrusted with enough wealth to spread the gospel to every nation.

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Topics: Personal Finance

I Don't Believe in Luck

Posted by Chuck Bentley

Jan 22, 2015 9:00:00 AM

 “Good luck”!  That sound’s so strange to say, especially coming from a Christian.

I don’t believe in luck and I hope you don’t either. Instead of wishing someone good luck, I prefer to say, “May God bless you.” 

Proverbs 24:3-4 says this, “By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rate and beautiful treasures.”    What a wonderful insight into God’s economy. 
  
The blessings we receive come not through luck or random chance but through wisdom, understanding and knowledge.   God wants us to rely upon these characteristics that He provides, not on what the world calls luck.
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Topics: Personal Finance

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