Posts Tagged 'budget'

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Jay Leno has never touched a dime of the money he earned on the Tonight Show.

According to an article at Yahoo Finance, Leno says "I always had two incomes. I'd bank one and I'd spend one." And he made sure to spend the smaller amount. "When I was younger, I would always save the money I made working at the car dealership and I would spend the money I made as a comedian," he says. "When I started to get a bit famous, the money I was making as a comedian was way more than the money I was making at the car dealership, so I would bank that and spend the car dealership money. I've never touched a dime of my 'Tonight Show' money. Ever." I wonder if he realizes he is using a biblical principle with this two-income strategy? Ecclesiastes 11: 6 says: Sow your seed in the morning, and at evening let your hands not be idle, for you do not know which will succeed, whether this or that, or whether both will do equally well. Mr. Leno not only had two sources of income, he learned to live on the smallest of the two. As we wrap up the year, think about this example and how you can apply it t ...

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Tis the Season for Charitable Giving

Originally posted on the Christian Post on December 23. To learn Biblical answers to your financial questions, you can #AskChuck @AskCrown your questions by clicking here. Questions used may be lightly edited for length or clarity. Dear Chuck, My mail and email are full of requests for end-of-year donations, and there are so many good causes. But it’s hard to balance how to give at a time of year when I’m shopping for so many. How important is it to close out the year with charitable giving? What kind of choices need to be made? It’s hard to get the money together for Christmas, but I feel guilty when I see those financial needs piling up. How should I balance these things? Charitably Challenged.   Dear Challenged, Since there are so many great and worthy causes, I can understand your challenge. I will speak to the question of balance and priorities, but the importance of giving is the focus of my response. You ask a great question that’s really about the st ...

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Are you guilty of buying things you don’t need? Are your closets full? Maybe you get a rush shopping?

All of us have probably purchased something we didn’t need. But, do you know why? Lauren Greutman, gives reasons in an article she wrote for the Huffington Post. Here are a few she discovered, with my solutions to the problem. You want to impress people. Solution: Find your true identity in Christ. Greed and pride can stunt your character and will keep you in bondage. You’re in the habit. Solution: In just 21 days you can break the shopping habit and develop a savings habit instead. Only go to the store if necessary and then, with a list. Avoid any impulse purchases. Pray before you go to avoid temptation. You don’t think through what you already have before buying. Solution: Could it be that you are not thankful for what you have? Or, maybe your closets are so full you have forgotten what is there? Use what you have and donate or sell the excess. You’re depressed and you feel better buying stuff. Solution: In the long term, these purchases are not ...

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6 Christmas Budget Busters - The most common traps to overspending at the holidays and tips on how you can avoid them

Christmas shopping can be the most expensive and stressful shopping experience of the entire year year. Many stores count on last minute, frantic shoppers to overspend out of desperation. Crown Financial Ministries has compiled a list of these Christmas Budget Busters for you to lookout for and tips on how to avoid them. Procrastinating. We’ve all been guilty of this at some point, but procrastinating around Christmastime is a dangerous budget-buster. If you feel stressed, frantic, or rushed while you are shopping, you’re likely to spend more than you planned. Stores anticipate this and place the big, sparkly displays with the over-priced items in the most visible places throughout the store. You see it, grab something in a rush, and checkout without even consulting your list or budget.  How to avoid it: Shop smart! If you have waited to the last minute, take a friend or set up accountability for yourself when you go shopping. Cramming in last minute ...

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Do you know how much the average American has in their checking account?

While it is difficult to know for sure, one study by bank consulting firm Moebs Services indicates that the average American has $4,436 in their bank account. This is an amount that accounts for averages in people’s checking accounts specifically and was notable a couple of years ago because it represented a significant jump from 2012’s numbers. What’s even more interesting is how much higher that figure is than it was in 2007, just prior to the Great Recession. At that time, the average American only had $788 in their checking accounts. This points to a change in financial behavior likely due to the scare of the downturn of the economy in 2009. People began to keep more available cash on hand. However, this study reveals a large increase in what is held in our checking accounts. It does not mean the average American has this much in a savings account. Studies reveal that 69% of Americans have less than $1,000 in a savings account. As Christians, we shoul ...

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What is the number one financial regret of older Americans?

“Most Americans are filled with regrets — financial regrets. Fully three in four, in fact, admit they harbor financial regrets, according to a survey of more than 1,000 adults by Bankrate.com. Their biggest regret: not saving for retirement early enough (nearly one in five Americans put this in the No. 1 spot). What’s more, among those age 65 and up, 27% said this was the biggest regret, compared with 17% of those aged 30 to 49." Those in the younger generation are probably just not old enough to realize they probably have also started saving too late!  Now, here is the tragedy of this regret. God’s Word teaches us to save. It should be a regular part of our life to regularly save money. And it’s never too late to start. You can also make progress on saving money by taking on an extra job or starting a small business or service to increase your income. God will be faithful to provide your needs; our part is to be faithful to obey His commands and princi ...

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Holiday Havoc: Married to Ebenezer Scrooge, but I still love Christmas!

Originally posted on the Christian Post on December 9. To learn Biblical answers to your financial questions, you can #AskChuck @AskCrown your questions by clicking here. Questions used may be lightly edited for length or clarity. Dear Chuck, My spouse and I are on the opposite sides of Christmas. He’s kind of an Ebenezer Scrooge, doesn’t want to spend any money and thinks most decorating is a waste of time and resources, but I love the excitement of the season, and gift giving is a way I like to show my affection. Every year, we end up having huge disagreements over how to celebrate the holiday. He is a Christian, and so we both share an appreciation of Christmas as a celebration of Jesus’ birth, but we are not on the same page at all on what that looks like … or how much money to spend. Can you help us? Tired of Christmas Conflict Dear Tired of Conflict, If it makes you feel any better, you’re not the first person to ask me that question. Just because you and y ...

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Want to celebrate Christmas without blowing your hard-earned savings? Today, some tips for a Christmas without the financial stress.

First of all, protect yourself from advertising overload. Companies know how to play on our emotions to get us to purchase their products. Rather, pray for legacy-building ideas that don’t require money. Intentionally plan a stress-free holiday that allows you to focus on Christ, the best gift of all. What do you have? Think about it! Time, talent, and training cannot be underestimated! Give of your possessions. Pass down things that can be treasured by others. Take note of what your children or friends especially like in your home. Write letters expressing your love and appreciation. Think about holiday entertainment that you be do as a family without spending money. Serve together. Is there a needy family, widow, or shut-in who your family could help in some way? Yardwork, cooking, cleaning, and car or home repairs are a few ideas. Play together! Board games, puzzles, hiking, walking and outdoor sports are great. Have a bin of toys to occupy the young ...

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Do you worry you may outlive your retirement savings?

According to a new Bankrate.com survey, “People who earn more than $75,000 have a greater fear that they’ll run out of money in retirement. Overall, 23% of survey respondents say their top worry is that their savings will run out, but 29% of those in the $75,000-and-up income bracket say the same.” According to an article at Time.com, “These fears persist despite thefact that about half of high-income Americans say they’re happy with the amount they’re socking away for retirement, compared to the 29% overall who say they’re happy with their current retirement savings. And even among those earning more than $75,000 a year, more than a quarter say just keeping up with basic living expenses is hampering their retirement savings”. A few ways to avoid outliving your savings is to get out of debt, learn to live on a budget, and reduce your cost of living as much as possible. This will enable you to increase your savings and add to your cushion now as opposed to ...

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Black Friday Survival Guide - 10 Ways to Avoid Overspending on the Biggest Shopping Day of the Year

According to Balance, 133.7 million Americans went shopping on Black Friday weekend in 2014 and spent a total of $50.9 billion. Stores count on bringing in at least 30% of their annual sales justbetween Thanksgiving and Christmas, making you the apple of thousands of marketer’s eyes. So how can you avoid getting dragged into the biggest shopping day of the year and find the best deals while not breaking the budget? Here are 10 tips to keep you from overspending this holiday season. Create a budget. This may seem obvious, but you have to plan ahead and know how much you’ll spend before you start. In order to have an accurate budget, start saving early and don’t budge on the bottom line. Make a list. Think through every person you need to buy a gift for and try to decide what to get them before you go shopping. Spending some time planning up front can keep you from overspending once you start shopping. And it wouldn’t hurt to check your list ...

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