Dear Chuck,
I like buying luxury brands, but my husband couldn’t care less about the brand. He says he just wants quality. I argue we are getting both. Who is right?
Luxury Brands Are Quality
Dear Luxury Brands Are Quality,
This is a hard argument to mediate since I don’t have all of the information about your financial circumstances. I decided to research the “luxury brand” market and give you some perspective before I reply to who I think is right.
Who Is Buying Luxury Brands?
A 2020 article at Forbes describes luxury brands as exquisite, expensive, and exclusive. Marketers aim at the middle class and use celebrities to sell a lifestyle. To retain the scarcity of their products, some companies destroy their unsold items. This 2018 article reports how Burberry destroyed items to prevent them from being stolen or sold cheaply.
The market for luxury goods was estimated to be $254 billion in 2023 and is expected to reach $370 billion by 2030. An expanding global middle class is emerging across the world and is expected to tap into this market. Luxury items are now more accessible due to the adoption of digital channels.
One unidentified online source claims that two income-earning groups account for 75% of the purchase of luxury goods: those that earn less than $56,000 per year, with a net worth of less than $6,000, and those that earn $56,000–$168,000, with an average net worth of $104,000. The point of his post is that the majority of luxury brands are not purchased by the wealthy.
Most studies agree that the wealthy are not keeping luxury brands in business. They buy assets that grow in value or increase their cash flow—or both. They buy freedom, not status. They use money to create options, not to impress strangers.
The wealthy know that money should be working for them, not the other way around. Assets generate income while liabilities generate expenses. Assets pay; liabilities cost.
It’s been said that the poor buy stuff, the middle class buy liabilities, and the wealthy buy assets.
Rather than using common sense, waiting, and trusting God, some people are caught up in the need for luxury. It boils down to what you believe about money—how you use or steward God’s money.
The Appeal of Buying Luxury
Luxury marketing is aimed at aspirational shoppers: those who want to feel wealthier, cooler, or more successful than they can truly afford. A 2023 survey found that nearly 40% of Gen Z shoppers went into debt to purchase a luxury item. According to Bain and Company, about 75% of global luxury spending is from middle-income households. As previously mentioned, those with a high net worth account for a fraction of the sales.
The most common luxury purchases include designer clothing, handbags, jewelry, watches, and cars. Experts project that a third of the overall luxury brand market will be for apparel. However, there is a growing demand for “luxury experiences” over possessions. That, coupled with an awareness of sustainability and ethical practices, is impacting the purchase of certain items.
Luxury items are associated with strong emotions:
In the God Is Faithful Devotional, Larry Burkett wrote, “Greed has become such an accepted attitude that most major advertisements for luxury products are built around it. Many committed believers are convinced (often by other believers) that it is God’s absolute responsibility to make them wealthy and successful.”
What people will do to get luxury items:
We need to live our lives in such a way that we can meet our obligations as well as stand before God and give an account for our choices. To fully consider the costs of daily decisions, we must remember that eternity stretches before us and that our choices have long-lasting implications. We need to make sure our priorities for spending are greater than our desires.
Count the Cost before Spending Money
Freedom from the Grip
“Do not lay up for yourselves treasures on earth, where moth and rust destroy and
where thieves break in and steal, but lay up for yourselves treasures in heaven,
where neither moth nor rust destroys and where thieves do not break in and steal.
For where your treasure is, there your heart will be also.”
Matthew 6:19–21 ESV
Those who struggle with the desire for luxury items can be released from the emotional grip.
They need to recognize the stronghold, confess it, repent, and be grateful for all they have. They can ask God to help them be satisfied in Him and all that He provides. Meditating upon or memorizing a passage of Scripture helps bring things into focus.
My position is that you both have a valid point. It is possible to buy a luxury brand and also get quality. However, it is also possible to buy quality and get “luxury,” without overpaying for the brand name. I am, therefore, in support of your husband’s position. A friend of mine purchases the cheapest luggage at Walmart. He says he can replace it once every year for 20 years (if it breaks) and still spend less than a luxury brand piece of luggage. We need to remind ourselves that this is all temporal. Treasures in Heaven will be far more meaningful than a Louis Vuitton handbag.
Further Reading
Rationalizing a Luxury or Indulgence
Fake It Till You Make It” Lifestyle
Why Financing Is the New Layaway
Buying luxury goods can quickly lead to credit card debt. If you’re burdened with credit card debt, consider reaching out to Christian Credit Counselors, a trusted partner of Crown. They are a valuable resource to help consolidate debt and get on the road to financial freedom.
This article was originally published on The Christian Post on May 16, 2025.
Dear Chuck,
We need to purchase a car on a tight budget. We’d like to buy a dependable used one, but we hear that parts are going up due to tariffs. I know you like to purchase used, but is that still our best option?
Buying a Car on a Budget
Dear Buying a Car on a Budget,
A car purchase has become a major life decision and can lead to a cascade of financial problems if the car is unreliable or it puts stress on your budget. Like you, many are concerned about used (and new) car prices and how to afford the best options.
The key is finding balanced information that doesn’t exaggerate the potential impact of tariffs. Deals are out there if you have the discipline to exercise patience, do your homework, and stay within your budget.
A Personal Experience
Even with the best of plans, it does not always go well. I recently did the research for one of our sons who needed a pickup for his work. Despite all of my best efforts at finding the perfect used model for him and his wife, it has consistently given them mechanical problems. Sometimes buying new is the best option, so don’t rule it out, depending on your budget.
Car Market in 2025
CarEdge.com reports that the average price of a used car this month is $25,128. The spring car buying season, combined with market uncertainty, may push prices higher for a while. Tariffs, supply chain disruptions, inventory, and interest rates are all factors. If new car prices go up, expect used ones to do the same. As for now, it’s a used car seller’s market.
Value in Timing
I do a lot of research before making a purchase, comparing sales at dealerships, Cargurus.com, and Facebook Marketplace. Timing, as reported by U.S. News, is important:
Sometimes, the best time to buy a used vehicle is after big sales events. Wait a few days for trade-ins to move onto the dealers’ used car lots. Those who sell privately may wait until after they have purchased a new one. Be careful buying after a flood or natural disaster. I search for one-owner or certified pre-owned cars that have maintenance records and low mileage. I always use CarFax to check the history and never buy a car that has been to auction or has a rebuilt title. A rebuilt title means it was declared totaled by an insurance company at some point in its history.
Value not Vanity
Buy cars for value, not vanity. Mark Zuckerberg (Meta), Larry Page (Google), and Jeff Bezos (Amazon) drove unassuming cars for years: Honda Fit, Toyota Prius, and Honda Accord. Warren Buffett drives a 2017 Cadillac sedan. The wealthy realize that most cars depreciate in value and prefer to put their money in appreciating assets. Understated vehicles don’t attract attention. Reliability, good gas mileage, and one that does not attract a lot of attention is preferred. Plus, insurance can be less expensive.
A study from Experian Automotive showed that 61% of households earning more than $250,000 annually don’t own luxury brand cars. They choose to drive mainstream brands or modestly priced luxury vehicles that coincide with their values and needs.
Value in Prayer
Ask God to provide. He knows exactly what you need and when you need it. One friend of mine was in need of a vehicle, and during his time of waiting on the Lord, he was invited to a charity golf tournament. For the first time in his life, he hit a hole-in-one while playing golf that day. The prize was a brand new car. He knew in his heart that the Lord provided in the most unexpected way!
Be patient while keeping a lookout. Let others know you are in the market. They may know someone who wants to replace a vehicle.
If any of you lacks wisdom, let him ask God,
who gives generously to all without reproach, and it will be given him.
But let him ask in faith, with no doubting…
(James 1:5–6a ESV)
Articles to check out for more information:
Do you want more tools and tips on financial stewardship? Are you interested in receiving ministry updates from around the world? Sign up to receive the Crown Newsletter emails by using the form on the homepage at Crown.org.
This article was originally published on The Christian Post on May 9, 2025.
Dear Chuck,
My fiancé and I hope to marry in November. Our parents are not in a position to help financially. I’ve felt anger and sorrow about that, but I want to have a great wedding without spending lots of money. Haven’t you written about ways to save money on weddings?
Wedding Without Financial Stress
Dear Wedding Without Financial Stress,
No need to be worried or upset about your family’s inability to help you pay for a wedding. In fact, you can view it as a blessing.
My wife and I were married long before cell phones, Instagram, and Pinterest. We had a simple wedding and honeymoon, and our first apartment was furnished with used furniture. We didn’t care! We weren’t comparing ourselves to others. We were happy with what we had and stayed busy working and going to school.
Weddings Can Get Expensive
It’s a different world today! According to The Knot Real Weddings Study, 53% of couples spent more on getting married than they planned, by an average of $7,347. Since the average cost is around $33,000, going over-budget would bump that figure to $40,000!
Weddings have become a big business. Social media has created desires and expectations for everything—from engagement rings to the wedding cake and everything in between. Brides are influenced by Pinterest and Instagram, magazines, blogs, apps, and Google searches. Young girls imagine, dream, and plan their weddings. They carry those dreams into adulthood without asking God for wisdom or seeking the advice of those older and wiser.
Suppose the wedding and reception last four hours. That means the average couple spends $10,000 an hour for the event. Granted, that’s not a worry for some people, but for others, it’s a LOT of money! Some (usually parents) recognize that money could be used for the down payment on a house, a newer car, career/skill training, or starting a business.
Keep It in Perspective
Your wedding is a significant moment in time, but it is just one day in your life. Once married, you will share many days together, Lord willing. While barns, beaches, and destination weddings make great social media posts, there is beauty in church weddings, where couples are celebrated by the congregation in a setting conducive to worship. Some churches have fellowship halls for a reception, an outdoor pavilion, or space to set up a tent. I’ve officiated a home wedding and one in a park. Both were beautiful, and the couples were spared great expense. Receptions held in venues not typically used for weddings can also be less expensive. Just make sure you understand the rules for catering, and read the contract in its entirety before signing.
Focus on the Marriage, Not Just the Wedding
My advice is to renew your heart and mind with an eternal perspective of your wedding day. Choose simplicity over stress and financial margin over debt. It’s a matter of stepping back in order to think realistically. Spend focused time in prayer, make peace with what you can afford, give thanks for your future husband, and ask the Lord to be at the center of all your plans. Aim to make your ceremony a time to worship Him as you dedicate your lives to one another.
Do
Don’t
Money Saving Tips
Begin your marriage using money wisely. It is crucial for your future financial success. I highly recommend that couples go through our Money Dates or Money Life Personal Finance Study. These will help you set your course, enabling you to align goals and have a plan to achieve them from day one.
I hope more churches will encourage ceremonies to be held on their property. Forming a committee to encourage and support church weddings at lower costs would be a blessing. If you have not asked your church about this, possibly send them this article.
More Information
If you’re entering marriage with credit card debt, consider reaching out to Christian Credit Counselors, a trusted partner of Crown. They are a valuable resource to help consolidate debt and get on the road to financial freedom.
This article was originally published on The Christian Post on May 2, 2025
Dear Chuck,
My parents are extremely fearful about the future of Social Security benefits. How can I help them with their concerns?
Fearful About Social Security
Dear Fearful About Social Security,
A recent Gallup report reveals that 52% of Americans worry about the Social Security (SS) system. It has been at the top of the minds of millions who are approaching or in their retirement years. Although this is not a new fear, it has been making headlines of late.
The Department of Governmental Efficiency (DOGE), in an effort to eradicate mistakes and fraud at the agency, has caused quite a stir among SS recipients. Political opponents are seizing the opportunity to create fear and unrest through the airwaves. As a result, many people are being misled by presumptions.
Some fear that cost-cutting measures will impact their benefits. The reality of it is that those who are receiving payments fraudulently should be afraid. Those who received overpayments and never reported them should expect repercussions. But what about the unrealistic fears that people are feeling?
Stirring the Pot
Former SSA commissioner Martin O’Malley, interviewed on CNBC, made comments which would indeed be unsettling if one didn’t recognize that his presumptions were opinions, not facts. He stated:
CNBC also referenced comments made by Jill Hornick, a union official at the American Federation of Government Employees Local 1395, representing SS offices in Illinois. She noted that “it will take a while for the effects to be felt, but they’re coming,” predicting that changes in SS will be “far worse” than the Medicaid planned cuts. In addition, she thinks processing new claims could be delayed due to an understaffed workforce.
Both people based their negative response to SS changes on presumptions. According to James 4:14, these types of statements are misleading, for no one knows “what tomorrow will bring.”
Facts Can Reduce Fear
What Now?
I believe it was Milton Friedman who said we can always expect the government to pay people their benefits, but the purchasing power of the benefits when received cannot be guaranteed. This is a very good point, since inflation can lower the purchasing power of future retirement income.
As Christians, we should assume the responsibility ourselves for saving and investing by living and planning as if Social Security will not be there. Prior to 1940, Americans did not receive Social Security benefits. President Roosevelt (FDR) signed the Social Security Act in 1935. The collection of taxes began in January 1937, and monthly payments started three years later.
It is better to rely on the Lord and follow His precepts.
“Wisdom is good with an inheritance, an advantage to those who see the sun. For the protection of wisdom is like the protection of money, and the advantage of knowledge is that wisdom preserves the life of him who has it.”
(Ecclesiastes 7:11–12 ESV)
“Moreover, it is required of stewards that they be found faithful.”
(1 Corinthians 4:2 ESV)
Live Contrary to the Way the Government Does
Our government has low or no savings and excessive debts, but so do many Americans. This should increase our motivation to do the opposite. Do not run up unnecessary debt. This requires sacrifice and self-control.
“Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.”
(Romans 13:8 ESV)
“The rich rules over the poor, and the borrower is the slave of the lender.”
(Proverbs 22:7 ESV, emphasis mine)
Many people carry excessive credit card debt and find themselves trapped in a cycle of borrowing. Anyone experiencing this burden should get in touch with our friends at Christian Credit Counselors. They have helped hundreds of thousands of families experience freedom from debt.
Do Not Fear
Assure your parents that no one knows what tomorrow holds. So why waste time and emotions concerned about changes in Social Security? Instead, live frugally, give generously, save regularly, and invest wisely. Put your hope in the Lord, not man or government programs.
“Therefore do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble.”
(Matthew 6:34 ESV)
“Trust in the Lord with all your heart, and do not lean on your own understanding.
In all your ways acknowledge him, and he will make straight your paths.”
(Proverbs 3:5–6 ESV)
I’d like to invite you and your parents to join a free Crown Bible study on the YouVersion app. We have several devotionals regarding money and stewardship that will provide encouragement by bringing God’s Word into your daily life.
This article was originally published on The Christian Post on April 18, 2025.
Dear Chuck,
With the new Trump tariff wars, I fear the stock market will tank, and my retirement savings will be gone. Are you advising people to get out of the market during this downturn?
Terrified of the Tariffs
Dear Terrified of the Tariffs,
I can’t give you investment advice; however, I can address some issues that are expressed or implied in your question. My intent is to offer you some Biblical principles to avoid the most common mistake any investor makes, which is to buy high and sell low.
Perspective on the Market
The year 2025 is shaping up to be one of the most volatile in recent history. We have seen declines in the markets year-to-date, with more declines possible. But remember, the S&P is still up more than 100% over the last five years, a historical bull run. While some panic, for many, it is an opportunity. It helps to think of it like a roller coaster that has ups and downs but consistently grows over time, increasing in value.
In a recent interview, Warren Buffett said something to the effect that if the value of your house went down, would you immediately decide to sell it? Surely not! Wouldn’t you continue to live there and wait to sell until the value increased? Owning stock in a company is very similar. Forget about the ups and downs of the stock market price.
“Some people should not own stocks at all because they get too upset with price fluctuations. If you’re going to do dumb things because a stock goes down, you shouldn’t own a stock at all.” –Warren Buffett
Historically, recessions typically last an average of 13–18 months, and then growth returns. The key is to be able to endure the fluctuations in your stock portfolio without making a reactionary decision to liquidate when the prices are at their worst. Obviously, the stocks you own should be evaluated consistently to factor in market changes, poor management, and other forces that could impact long-term value.
Age-Adjusted Risk
Investments should be analyzed by risk as you age. If they have historically weathered the storms, adjustments may be unnecessary. Most professional advisors stress the importance of reducing risk prior to and after retirement. In addition, the Bible stresses the importance of diversification, which is another way to reduce risk.
“Give a portion to seven, or even to eight, for you do not know what disaster may happen on earth.” (Ecclesiastes 11:2, ESV)
Seek many counselors. Think of investing like planting a tree. It needs decades to grow. Digging it up and moving it every time there is a storm will interrupt its opportunity to grow.
Buy Low, Sell High
Markets move on sentiment or emotion. People take action when they are fearful or greedy. The goal is to avoid following the crowd in the wrong direction. Like someone yelling fire in a theater, many may be crushed by the panic to escape instead of waiting to see if there really is a fire.
John Templeton famously said the best time to buy stocks is at the point of peak pessimism and fear, and the best time to sell stocks is at the point of peak optimism.
Buffet says that the poem If by Rudyard Kipling is good to ponder during market turmoil. It is a reminder to avoid panic in the midst of market fluctuations, to ignore the fears created by the “what-ifs,” and to patiently wait things out.
Dealing with Fear
We are called to live one day at a time. Only our heavenly Father knows the future. When we try to enter His realm, we can be overcome with fear and anxiety. That’s why Jesus’ instruction in Matthew 6:33–34 is so important:
“But seek first the kingdom of God and his righteousness, and all these things will be added to you. Therefore do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble.” (ESV)
“He will give them to you if you give him first place in your life and live as he wants you to. So don’t be anxious about tomorrow. God will take care of your tomorrow too. Live one day at a time.” (TLB)
I’d like to invite you to join a free Crown Bible study on the YouVersion app. We have several devotionals regarding money and stewardship that will provide encouragement by bringing God’s Word into your daily life.
This article was originally published on The Christian Post on April 11, 2025
Dear Chuck,
I have plenty of money but no peace. What is there not to worry about right now? I have generalized stress about the economy, political divisions, cultural influences on my kids, wars, hatred… the list is long. How can I escape this spiral of non-stop worrying?
Anxious About Everything
Dear Anxious About Everything,
Thank you for your honesty. There is plenty to worry about through the lens that you are viewing the world.
We’re witnessing societal unrest (turmoil) from people whose meaning and purpose in life are linked to current events. Pessimism is rampant. Journalists, who get paid by the size of their viewership, are filling the airwaves with doom and gloom, which is creating fear, uncertainty, and anger. If you watch TV, read the news, or listen to podcasts, you will see and hear people who are anxious, devoid of joy, filled with fear, and possibly even paranoid. Their emotions are spilling over into acts of hatred and violence.
Grumbling
Like the Israelites who were rescued from slavery in Egypt, many within our population are fixated on what they perceive to be their losses. Their grumbling outweighs their gratitude.
“Now the rabble (disorderly mob) that was among them had a strong craving. And the people of Israel also wept again and said, ’Oh that we had meat to eat! We remember the fish we ate in Egypt that cost nothing, the cucumbers, the melons, the leeks, the onions, and the garlic. But now our strength is dried up, and there is nothing at all but this manna to look at.’”
(Numbers 11:4–6 ESV, parentheses mine)
Seeing Through God’s Lens
Rather than dwelling on God’s miraculous rescue and His abundant provision, they chose to focus on what they missed. Instead of giving thanks for the day’s gift, they were trapped in discontentment and projecting a future of deprivation.
Regardless of the actions of any government, believers must place their hope and dependence on God. Filled with the Spirit of God, we can be strong and courageous, knowing that the Lord our God is with us. Our hope is not in this world but in the world to come.
We may be tested and even suffer financially. Or we may prosper! Only God knows the future. Our responsibility is to obediently follow Him and live in such a way that we reflect the source of our hope to the anxious world that has no hope.
As the Apostle Paul said, “I have learned in whatever situation I am to be content. I know how to be brought low, and I know how to abound. In any and every circumstance, I have learned the secret of facing plenty and hunger, abundance and need. I can do all things through him who strengthens me.” (Philippians 4:11b–13 ESV)
The writer of Hebrews said, “Keep your life free from love of money, and be content with what you have, for he has said, ’I will never leave you nor forsake you.’” (13:5 ESV) The implication is that money is temporary, but our relationship with God is eternal.
Biblical Solutions to Fight Off Anxiety
We have so much here to be thankful for. Yet, without an attitude of gratitude, many bring mental suffering upon themselves and others. I conclude that they are:
Is it productive to worry about possible financial scenarios? No! Worry is like a rocking chair; you are constantly expending energy but getting nowhere.
Instead, follow God’s financial principles and do your part in diligently preparing as He directs. Do not depend on the government for your financial security. Do not place your identity in a job or company. Do not spend more than you make; make necessary sacrifices to get your house in order.
Direct any spun-up emotion into productive activities so that you can “laugh at the days to come,” like it says in Proverbs 31:25b. With your confidence placed fully in the Lord, you can ask Him for wisdom to protect your home and business financially.
Take These Actions Every Day
Pray: John 15:7
Trust: Proverbs 3:5–6
Depend on God: Philippians 4:19
Walk by the Spirit: Galatians 5:16–26
Suffer well: Romans 5:1–5
Give thanks: 1 Thessalonians 5:16–18
Prepare to defend your hope: 1 Peter 3:14–17
Rest Your Mind
God will give each of us problems that money cannot solve, but He will also give us true riches that money cannot buy. We can be anxious about our problems, or we can be joyful about all that we do have, even when we are suffering.
“You keep him in perfect peace whose mind is stayed on you, because he trusts in you.”
(Isaiah 26:3 ESV)
“Count it all joy, my brothers, when you meet trials of various kinds, for you know that the testing of your faith produces steadfastness. And let steadfastness have its full effect, that you may be perfect and complete, lacking in nothing.”
(James 1:2-4 ESV)
Are you interested in receiving encouraging ministry updates from around the world? Do you want more tools and tips on financial stewardship? Sign up to receive the Crown Newsletter emails by using the form on the homepage at Crown.org.
This article was originally published on The Christian Post on April 4, 2025
Dear Chuck,
My husband and I have lived frugally since getting married ten years ago. We’ve been paying off student loans, cars, and credit card debt. I’d like to use our tax refund for a vacation, but my husband insists that we pay off more debt.
Divided Over Tax Refund
Dear Divided Over Tax Refund,
Congratulations on the perseverance demonstrated by paying down your debt. I agree it can get tiring, old, and even depressing. That is why it is essential that you focus on the goal and give thanks for a husband who cares enough to protect your financial situation. At the same time, there needs to be room for some celebration that meets both of your objectives.
Affordable Celebrations
Find ways to celebrate how far you’ve come without blowing through the refund. Maybe your dream vacation can be postponed until more debt is reduced. In the meantime, consider alternative ways that will not cost money but will bring you joy together. Time spent in nature hiking, biking, and picnicking can be rejuvenating physically and emotionally. I have friends who love to hike and bike in the Smoky Mountains. Others take hammocks, books, and a picnic to relax. Perhaps you prefer pickleball, tennis, public gardens, museums, camping, etc.
Avoid Going Crazy
Unfortunately, many people fail to realize the importance of stewarding their tax refund. An article at Credit Karma says Americans blow their refunds like it’s free money. Results of a study conducted on their behalf revealed that by this time last year, “more than a quarter reported they already used or plan to use their refund to splurge on things they otherwise wouldn’t buy such as clothing and accessories (45%), electronics (40%) and shoes (37%). This trend was more pronounced among younger generations with 39% of Gen Z and 36% of millennials admitting plans to splurge.”
Here are just a few ways people (in debt) foolishly spend their refunds:
Good Stewardship of Your Refund
These are my three suggestions regarding tax refunds for people in debt:
Stay United
Whether debt is an issue or not, this article explains how to put a refund to good use. More important than what you do with the money is how you work to stay united as a couple. A tax refund is money the government owes you. It is not a gift or financial windfall. It is money
you worked for, so wisely put it to work for you. Your husband may already have a plan to maximize your return. Be honest with each other, consider all your options, pray, and ask the Lord to bring you to an agreement. I hope the two of you will ask the Lord to bless your efforts and unite your hearts with common goals. Hopefully, these ideas are a starting point for your unified approach.
Commit your work to the Lord, and your plans will be established.
Proverbs 16:3 ESV
If you need extra help in making a plan to pay off credit card debt, consider reaching out to Christian Credit Counselors, a trusted partner of Crown. They are a valuable resource to help consolidate debt and get on the road to financial freedom.
This article was originally published on The Christian Post on March 28, 2025.
Dear Chuck,
We have a young child with disabilities. Can you advise us on how to prepare financially for her care?
Special Care Needed
Dear Special Care Needed,
For the many friends that I have who love and care for their child (or children) with special needs, there are additional financial, emotional, and, at times, spiritual burdens. Some have questioned God, and some have been able to rejoice that they were chosen to be faithful stewards of God’s very special, unique, and marvelous creations. I have been blessed to hear their testimonies that celebrate the faithfulness of God to bless their families in ways that would have never happened without the child God entrusted to their care. I am so glad you are preparing financially for their long-term needs.
Your situation is far from uncommon. I researched the prevalence of people living with disabilities in the US. The research will provide some helpful context.
Making Plans
It is important to make financial plans so you can take care of the entire family while also setting reasonable goals to ensure your child gets quality care. It is equally important that you have people to call on and resources to handle the additional demands on your life.
According to the National Institutes of Health, the yearly cost of raising a child with disabilities in 2001 was $8,742. The estimate for 2025 is nearly $16,000. According to a 2020 study, a household containing an adult with a disability that limits their ability to work requires an average of 28% more income.
Raising a child with autism spectrum disorder can cost at least twice as much as raising a typically developing child. M&L Special Needs Planning reports that lifetime expenses for these children can reach $3.2 million, depending on circumstances. In some cases, government assistance is available.
Don’t allow these estimates and large numbers to overwhelm you. God is our Provider. He is faithful to meet the challenges and needs of each day.
Financial Challenges
Best Practices
Discover Resources and Financial Aid
An ABLE account is a savings and/or investment option for people with disabilities who qualify. It falls under Section 529A of the Internal Revenue Service tax code. The ABLE Act allows a person whose disability began before age 26 to save money in the ABLE account without affecting most federally funded benefits based on need. (Note that on January 1, 2026, the age of ABLE eligibility will be expanded to include people with a disability that began before age 46.) The money in the account may be used to pay for qualified disability expenses (QDEs). Any growth in the account from investments is not taxed and does not count as income if the funds are used for QDEs.
These accounts:
SSI provides monthly payments to people with disabilities and older adults who have little or no income or resources. Payments are subject to multiple factors but should be a consideration.
If your child with a disability is uninsured, needs additional services, or needs wrap-around Medicaid coverage to help with finances and uncovered services, your child probably needs a Medicaid waiver or program. These programs waive one or more Medicaid rules in order to extend eligibility and/or services to children. For children, the most common rule to be waived is the way income is calculated, meaning the program is based on the child’s income instead of the family’s income. Since most children don’t have any income, these programs allow the vast majority of children to qualify, regardless of how much money their parents make.
Your Local Church
Reach out to your local church. If it does not have a program serving families like yours, consider initiating the conversation to educate and make the need known. Request help from trustworthy friends and community programs. Joni & Friends has been serving people with disabilities since 1979. They offer practical help along with the saving love of Jesus.
Be Strong and Persevere
Raising a special child takes humility, strength of character, and dependence on others, primarily the Lord. He entrusted you with the child and will strengthen you for the days ahead. When you don’t know what to do, run to Him, remembering the words from James 1:5:
If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him. (ESV)
There will be days you will have to depend on Him for mercy and strength to carry on. He promises to supply your needs. Despite the challenges you may face, know that He is with you, He loves you, and He will not forsake you.
Not only that, but we rejoice in our sufferings, knowing that suffering produces endurance, and endurance produces character, and character produces hope, and hope does not put us to shame, because God’s love has been poured into our hearts through the Holy Spirit who has been given to us. (Romans 5:3–5 ESV)
My hope is that these few directives will provide you with direction, encouragement, and helpful resources. Thank you for your question. Blessings to you and your special family.
I’d like to invite you to join a free Crown Bible study on the YouVersion app. We have several devotionals regarding money and stewardship that will provide encouragement by bringing God’s Word into your daily life.
This article was originally published on The Christian Post on March 21, 2025.
Dear Chuck,
Should I participate in my company’s offer of a Health Savings Account? I don’t get sick often and feel it is too expensive.
Help with HSA
Dear Help with HSA,
A Health Savings Account (HSA) is a great way to manage the cost of healthcare. If you are qualified and able, I suggest that you take advantage of the opportunity; however, there are some possible downsides.
The program was established for those who elect to have high deductibles on their health insurance coverage. The idea is that high deductible coverage lowers the cost of being insured but requires more out-of-pocket cash when the insurance coverage is needed. Thus, an HSA account allows for automated savings to be used when cash is needed to cover the higher deductibles.
Imagine that you elect to have a $5,000 deductible on your health insurance policy to bring your monthly premium payments down. This means you will need to be ready to pay up to $5,000 out of pocket when you have a medical procedure. An HSA is intended to help you have this amount set aside.
How It Works
The program is an automated savings vehicle for funds that are deposited into a restricted-use account for future medical needs. You set the amount from payroll deductions. The amount is tax-exempt, which is a significant benefit over a personal savings account. Even though you may not presently use it often, the funds can be invested to grow and increase for future needs as you age.
HSAs cover certain medical expenses while helping you save money and strengthen retirement planning. The rising cost of healthcare in America warrants wise building and management of this asset.
Currently, HSAs are only available to those with a high-deductible health plan. They are so beneficial that Senator Rand Paul wants to expand the qualifications so that everyone can have access. He is sponsoring the Health Savings Accounts for All Act. I hope it passes so more people can participate.
HSA Facts
Eligibility is denied if you are:
To contribute in 2025, you must be enrolled in a high-deductible health plan of at least $1,650 for self-coverage and $3,300 for family. Total out-of-pocket costs are limited to $8,300 for self-only or $16,000 for a family.
In 2025, you can contribute $4,300 to an HSA if single or $8,550 if you have family coverage. At age 55, you can make catch-up contributions of an additional $1,000 if not enrolled in Medicare. The 2024 tax deadline for contributing to your HSA for 2024 is April 15. Contributions for 2024 are $4,150 (single) and $8,300 (family).
Prior to using your HSA, make sure you understand the eligible and ineligible expenses. Keep good records, and track your contributions to claim eligible deductions to make tax filing easier.
Some Words of Caution
Contributing to an HSA does not eliminate the need for an Emergency Savings account or setting aside money for retirement. You don’t want to make contributions to a restricted, tax-exempt account only to find you have to withdraw the money for another emergency. You will face the possibility of penalties and lose any advantages you may have initially gained.
Prioritize establishing a minimum of three months of living expenses in your Emergency Savings account before you begin contributing to your long-term retirement accounts or an HSA.
Money contributed to an HSA can remain in cash and money market accounts or be invested in mutual funds. If you invest it, know that it is at risk of decreasing in value. Your health issues and age are determining factors in planning. If you anticipate the need for funds in the near future, you may want to avoid possible loss due to market volatility and stick with cash or money market funds. Research your options because fees, interest rates, and investment options vary. I recommend seeking wise counsel from several sources. For more information, check the pros and cons at Bankrate, Wallethub, and Investopedia.
Those with high medical needs may benefit from plans with lower deductibles and copays, which would presently disqualify you from participating in an HSA. Each person must seek the route that best suits their unique needs and, ultimately, the Lord for guidance in decision-making.
With God are wisdom and might; he has counsel and understanding.
Job 12:13 ESV
This is an update to an HSA article from 2017.
For help with budgeting so that you can begin saving more, consider a Crown budget coach. He or she can work with you to develop a customized spending plan and debt-elimination strategy.
This article was originally published on The Christian Post on March 7, 2025.
Dear Chuck,
I got some crazy tattoos while in the Marine Corps when I was single. Now my wife wants me to get rid of the ones she does not like. I tell her that besides being super painful, it is a waste of our money. Any advice?
Split over Tattoos
Dear Split over Tattoos,
Your wife is certainly not alone in her position. This topic is front and center since tattoos have gone mainstream over the past decade. In the US alone, about $1.5 billion was spent on tattoos in 2024.
Tattoo Regret
The trend on social media called “tattoo regret” is leading many to consider removal. Comedian and former “Saturday Night Live” cast member, Pete Davidson, has been in the process of “burning” off most of his 200 tattoos. He describes the experience as “horrible.” Regardless, the removal market has grown exponentially due to the availability of safe options. $478 million was spent in 2019, and over $1 billion was spent in 2024. An estimated $3.57 billion is projected to be spent by 2032, according to Allied Market Research.
Reasons for tattoo removal:
Types of Removal
Since tattoos are designed to be permanent, complete removal is difficult. Skin color variation and scarring may occur regardless of the method used to eradicate the tattoo. Methods vary due to size, color, age, location, and clinician or physician’s experience. The following may be used: laser, dermabrasion, surgical excision, subcutaneous injections, chemical peels, and removal creams.
Here are some evolving removal processes:
They deliver energy pulses in trillionths of a second, breaking down ink into tiny particles that are easier for the body to naturally eliminate. Less scarring occurs, and fewer sessions are required, thus reducing costs.
These treatments are customized based on the colors and depths of the ink. The risk of skin damage is minimized, making it safer for varied skin tones.
Unique needs are met with this data-driven approach that maximizes effective treatments and minimizes discomfort and side effects. It can analyze before-and-after images, effectiveness, and needed adjustments.
Cryogen-based and air-cooling systems are used to numb the skin before and during laser treatment. Topical anesthetics are becoming more effective and giving longer-lasting relief. Virtual reality (VR) is being researched by some clinics to distract clients from discomfort during treatments.
Cost of Removal
According to the American Society of Plastic Surgeons, the average cost of laser removal is around $700. However, additional fees must be considered: facility, surgeon, and anesthesia fees, medical tests, and prescriptions. Also, many trips are required, and healing time out of the sun is necessary, which may cut into your work hours or vacation time. Some estimate that the removal of many tattoos can spiral up to hundreds of thousands of dollars before they are all removed.
See a cost chart here: https://www.healthline.com/health/tattoo-removal-how#methods.
See a cost calculator here: https://ctrlcalculator.com/misc/tattoo-removal-cost-calculator/.
To Remove or Not to Remove?
The story of Pete Davidson is worthy of consideration. He spent more than $200,000 over a multi-year period to completely remove his tattoos. His advice is to make sure you really want to get it in the first place!
If it is just a few tattoos your wife finds offensive, consider the cost, save the money to be able to afford it, and honor her requests. The best solution is the one that brings peace to you and your spouse. Explore the data I have provided, and do your own research. Then the two of you will need to discuss, pray, and make a unified final decision. Thanks for the question.
If credit card debt is another regret, Christian Credit Counselors is a trusted partner of Crown. They are a valuable resource to help consolidate debt and get on the road to financial freedom.
