Dear Chuck,

My pastor talked about sin in a recent message at church.  I am curious to know what the Bible says about financial sins.  Do you have a list? 

Needing Insight 

Dear Needing Insight, 

Last week I shared that of the more than 2,350 verses in the Bible dealing with money and possessions, the majority of the principles deal with our heart and mind. Within those verses, we are told how to handle material goods and wealth. Although I cannot give an exhaustive list of financial sins, I covered six:

•     Dissatisfaction
•     Coveting
•     Greed
•     Love of Money
•     Selfishness
•     Arrogance

Here are four more, for a total of ten for you to contemplate.

A Short List – Part II

Putting Money Before God

Prosperity is dangerous and can become a false god. 

See, I set before you today life and prosperity, death and destruction. For I command you today to love the Lord your God, to walk in obedience to him, and to keep his commands, decrees and laws; then you will live and increase, and the Lord your God will bless you in the land you are entering to possess.

But if your heart turns away and you are not obedient, and if you are drawn away to bow down to other gods and worship them, I declare to you this day that you will certainly be destroyed. You will not live long in the land you are crossing the Jordan to enter and possess. (Deuteronomy 30:15-18) 

Unfaithfulness

God wants us to be loyal to Him whether we have a lot or a little. We are stewards, not owners of all that we have. 

One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? And if you have not been faithful in that which is another’s, who will give you that which is your own? No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money. (Luke 16:10-13 ESV)

Desire to be Rich

Our desires reveal our true priorities. 

But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs. (1 Timothy 6:9-10 ESV)

Controlled by Debt 

When we borrow in excess, we become a slave to the lender.  

Just as the rich rule the poor, so the borrower is servant to the lender. (Proverbs 22:7 NLT)

Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. (Romans 13:8 ESV)

Dealing with Financial Sin 

I have been guilty of most of the financial sins I have mentioned in these two articles at one time or another! I learned the hard way that God’s principles are given for our own good. When we follow them we experience peace and the true riches promised to the faithful. In fact, I have learned that the true riches of Christ are greatly to be desired above the temporal riches of money and possessions. 

If you know that you too have sinned – intentionally or unintentionally, confess your sins to the Lord.

He does not deal with us according to our sins, nor repay us according to our iniquities. For as high as the heavens are above the earth, so great is his steadfast love toward those who fear him; as far as the east is from the west, so far does he remove our transgressions from us. (Psalm 103:10-12 ESV)

Then, ask Him to restore the years the locusts have eaten. (Joel 2:25 ESV) 

He is omniscient, omnipresent and omnipotent, capable of doing far more than we can even hope or imagine!

No mistake is beyond God’s ability to redeem it for our good and turn it around. Don’t be discouraged or give up the fight; learn and apply God’s principles to your financial circumstances and trust Him to restore your relationship and your financial health. 

You and your church should become aware of the courses available to you on Crown Online. These courses offer spiritual guidance as well as practical tools in your journey to become a faithful steward. This is a journey that has set millions free of financial sin and delivered them into financial freedom. 

Originally published on the Christian Post, January 17, 2020.

Dear Chuck,

My pastor talked about sin in a recent message at church.  I am curious to know what the Bible says about financial sins.  Do you have a list? 

Needing Insight 

Dear Needing Insight, 

Thank you for your question.

Like you, there are many in America and around the world who have lived in financial sin, some intentionally and others completely unaware. We live in a time where many people, even those who claim Christ as Lord and Savior, are Biblically ignorant. I certainly was ignorant in spite of having broad access to Bibles and training. Often, these warnings are ignored due to apathy or tyranny of the urgent. The world seduces believers who fail to consult God before making financial decisions. They follow the crowd or heed worldly advice. I know. I did.

My Quick Story 

I will tread carefully on this topic to avoid being a Pharisee, since I not only have a list of some of the major financial sins referenced in the Bible but have committed them as well! I graduated from college with a desire to get rich and fast. My goal was to make millions of dollars, and by the way, I was millions of dollars away from that goal!  My worldview was something like this: Make as much money as fast as you can, to retire as early as you can, to entertain yourself as long as you can. Even though I had grown up attending church, it was not until my early 40’s that God got a hold of my heart while participating in a Crown Bible Study. The impact of that course was so profound that since that time, now twenty years ago, I have been committed to teaching others what the Bible says about money and stewardship. 

A Short List – Part I 

There are more than 2,350 verses in the Bible dealing with money and possessions. The vast majority of the principles that God gave us deal with our heart and mind. God is careful to tell us exactly what to believe and not to believe when it comes to material goods and wealth. This is in no way an exhaustive list of financial sins, but it will get you started on the right track. 

Dissatisfaction

A clear indication of a misplaced dependency is complaining about our financial status in comparison to others. 

He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity. (Ecclesiastes 5:10 ESV)

Coveting

When we desire what others have, we fall into the trap of coveting. 

And he said to them, “Take care, and be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions.” (Luke 12:15 ESV)

Greed 

The drive to have more, more, more leads us into conflict and turmoil. 

A greedy man stirs up strife, but the one who trusts in the Lord will be enriched.
Whoever trusts in his own mind is a fool, but he who walks in wisdom will be delivered. (Proverbs 28:25-26 ESV)

Love of Money  

Most people do not recognize their love of money until they lose it. It becomes their  security in the place of God. 

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.” (Hebrews 13:5 ESV)

Selfishness

Spending everything on ourselves is a common sin we often overlook. 

There is a grievous evil that I have seen under the sun: riches were kept by their owner to his hurt, and those riches were lost in a bad venture. And he is father of a son, but he has nothing in his hand. (Ecclesiastes 5:13-14 ESV)

Arrogance

Accumulating money can often lead us to think more highly of ourselves. 

As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. (I Timothy 6:17 ESV)

I suggest that you and your church become aware of the courses available to you with Crown Online. These courses offer spiritual guidance as well as practical tools in your journey to become a faithful steward. Your question is so important that I have divided my response into two parts. More next week!

Originally published on the Christian Post, January 10th 2020.

Dear Chuck,

We fight about money every time we get near the end of the month and feel like our bills are mounting. How do we stop this cycle? 

Stuck in Fight Mode 

Dear Stuck in Fight Mode, 

Your opening statement contains both the problem and hidden solution to your question! You and your spouse need to stop fighting each other and unite to fight your money problems together; otherwise, the cycle will likely never end.  So to your real question as to “how to stop the cycle,” I have lots of personal experience and advice! 

Money Fights

“Arguments about money is by far the top predictor of divorce,” says Sonya Britt, a researcher at the University of Kansas. She states, “It’s not children, sex, in-laws, or anything else. It’s money – for both men and women.”

I once asked a wise senior business leader for advice with a problem I faced in a company. He said, “It is impossible to prosper when there is war. You must seek peace first; then you will prosper.” His insight immediately opened my eyes to the solution. I went and made peace with my adversary. Once that was accomplished, our energies were refocused on growing the company. The advice worked.

It also works in marriage. Oftentimes, we are passively–or aggressively–in conflict with our spouse. Without peace, a marriage cannot reach its full potential. A lack of unity directly relates to financial struggles and impacts decision-making. 

Step One

Seek to become peacemakers in your home. It requires listening to, honoring and learning from each other. It aids in resolving arguments, division, and discord. Aim to make three tips your habits:

1. Be the first to apologize. “The first to apologize is the bravest. The first to forgive is the strongest. The first to forget is the happiest.” –Author unknown.
2. Speak with gentle, healing words. “A soft answer turns away wrath, but a harsh word stirs up anger. The tongue of the wise commends knowledge, but the mouths of fools pour out folly.” (Proverbs 15:1-2 ESV)
3. Cultivate your friendship. It’s a key to a fulfilling marriage.

C.S. Lewis said, “Love in this second sense–love as distinct from ‘being in love’–is not merely a feeling. It is a deep unity, maintained by the will and deliberately strengthened by habit.” He understood that, just as choosing to react negatively can become a habit, we can choose to love and make it a habit.

Practical Tips

• Be honest. Do not keep any financial secrets. 
• Learn and respect each other’s financial personality. Givers and Savers are both needed. 
• Exercise self-discipline. Stop overspending. 
• Work together setting realistic goals then make a plan to achieve them.
• Track your spending to build a budget.
• Go to a needs-based budget for a time to create some margin.
• Build an emergency fund. 
• Pray together before making any large purchases. Wait until you agree and have peace.
• Pray for delivery of any addictions. They’re costly. 
• Acknowledge mistakes. Confess and seek forgiveness, and then learn from them. 
• Acknowledge your spouse’s wisdom. Verbally encourage progress!
• Negotiate, reduce and stagger your bills.
• Plan something fun each week. 
• Find a wise couple to mentor you.
• Enroll in Crown’s Online Money Dates Course.

Commit, as a couple, to learn what God says about money. If you align your values with His, you can agree with your spouse about money. Many people simply don’t realize that their spending habits conflict with Biblical values. 

Peace is the oil that makes the engine of your marriage run smoothly in spite of your differences. Peacemaking is the foundation for unity, which in my view is the key to lasting satisfaction, joy, and intimacy in marriage.

Recognize that if you are not actively moving toward Jesus, a subtle but powerful riptide is pulling you away. An enemy seeks to diminish and destroy faith and marriage. It is vital that you and your spouse develop a Biblical worldview about money. Everything you have is God’s.  Together, you and your wife can bring Him glory by stewarding well what He provides. 

Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect. (Romans 12:2 ESV)

Starting the New Year Right

For twenty-one years, my wife Ann and I had struggles agreeing about money decisions. We were constantly in the cycle that you described. We never made great progress towards our financial goals because our enemy kept us in conflict with each other. When we realized that we were trapped in a self-defeating loop of fighting each other and not our financial challenges, we were able to rise above it. It was such a significant change in our lives that we wrote an entire book about it called, Money Problems, Marriage Solutions.  You see, marriage is actually an advantage when it comes to your finances. It is not a disadvantage at any level. I really want you to get a copy of the book and read it, apply it and make the changes we recommend.  We also want you to use the Money Dates program; this method as well as our book can be ordered online at crown.org. 

This is a new year; it is time to break this cycle once and for all. Invest in your marriage and your financial problems will consistently diminish as you work together.  Stay in touch. I am excited for you and your family! Happy New Year! 

Originally posted on the Christian Post, January 3, 2020.

Dear Chuck, 

I’m worried about a layoff next year. If we have a recession, I am likely to be the first one out the door. What can I do to be prepared? 

Preparing for a Layoff

Dear Preparing for a Layoff, 

There is a great deal in your question that I can relate to. Having been through a corporate layoff in my prior career in the oil and gas industry, I am aware of the fear and stress that go along with facing an unknown future. However, contrary to you, I was not prepared. 

Downsizing, reorganizations, and mergers are part of life. The Bureau of Labor Statistics for August, 2019 indicates that the average length of unemployment is 22.1 weeks  ( just under 6 months) and 20.6% of the unemployed were out of work for 27 weeks or more.  This fact alone should give you a strong indication of how to get prepared if a layoff and/or recession does occur in 2020.

God can be fully trusted, despite a possible layoff. He will be there for you even if things seem out of control. Keep an eternal perspective, prepare and walk in faith.

Just in Case

Prepare now to minimize stress.

• Do what you can to prove your value to your manager. Document contributions. 
• Don’t participate in office gossip or rumors. 
• Keep a positive attitude. Work hard and serve others.
• Update your resume.
• Make sure recruiters have your correct contact information.
• Begin a passive job search. 
• Do not use company computers, phones, networks, or search Google in seeking a job. Never search from your current place of employment.
• Expand your network. 
• Improve yourself.
• Build your interview skills.
• Postpone large purchases, vacations, and anything that is not necessary
• Go to a “needs” based budget – food, shelter, transportation, utilities, creditors, childcare.
• Get covered medical needs taken care of now: check-ups, glasses, contacts etc.
• Understand HSA and FSAs.
• Build your emergency fund.
• Prepare to pack important possessions. Copy work samples, performance reviews, and key documents. Transfer your contacts to a personal computer. 
• If needed, refinance loans while employed because banks will hesitate if you are unemployed.
• Negotiate your bills and expenses. Example: bundle or find discounts for insurance. Consider temporarily dropping unnecessary expenses — things like cable. 

If a Layoff Occurs

Don’t take it personally, unless you brought it upon yourself. If you did, learn from your mistakes! Romans 8:28 says, “And we know that for those who love God all things work together for good, for those who are called according to his purpose.” He may be moving you into something far better than you ever imagined. 

• Request and read all contracts and documents you signed when you were hired. 
• Make sure you get paid for any accrued benefits, unused vacation days, or money owed.
• Know your unemployment benefits. Will healthcare be subsidized? How long? COBRA? HSA while claiming unemployment? 
• Verify what happens to other benefits like life or long-term care insurance and 401 (k).
• Get copies of key documents, performance records, and work samples.
• Get contact information: payroll, HR, benefits contacts, and potential references.
• Negotiate a severance package.
• Don’t burn bridges. Aim to maintain your work relationships. 
• Reach out to contacts.
• Contact creditors. Ask the hardship department for a reduced interest rate.
• Temporarily stop contributing to retirement and savings and build your emergency fund.
• Make and live on a “needs only” budget.
• Don’t panic, be humble, stay involved in your church body.
• Pray, look for God’s provision, be patient and give thanks.

Temporarily, most people can reduce their expenditures substantially without a major reduction in lifestyle. It just requires some planning: being patient, avoiding quick financial decisions, and never spending money you don’t have even when you have available credit. It means tithing faithfully, avoiding get-rich schemes, and sticking to a budget. Those who have surrendered their finances to God also experience His faithfulness. 

Pray for peace and contentment during this time. Go on a spending fast and cut all unnecessary expenses. Sell what you don’t need. Ignore the media and renew your mind with Biblical truth. Enjoy creation, spend time with friends & family. Seek simplicity and be thankful. 

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) 

Don’t Worry

Solomon reminds us in Ecclesiastes 8:7 that no man knows the future.  As much as we may think we know what will happen next year, we truly do not know will happen in the next moment.  Worry involves looking to the future and projecting unpleasant events that may or may not occur. The truth is, you and I do not know if there will be a recession next year or if you will be laid off.  We do know that we are to live prepared for the future but keep our thoughts on today because this is all we have. 

As I look back on the layoff that I experienced, God used it for my good, especially the lessons I learned from the pain of being unprepared. You are wise to be looking ahead and ready should it happen, now you can rest and enjoy each day that you have regardless of what tomorrow will bring. 

Read more about preparing for economic hardship in The S.A.L.T. Plan, a practical guide I wrote about carefully planning for hard times, and how to increase your faithfulness with your God-given resources.

Originally posted on the Christian Post, December 27, 2019.

Dear Chuck,

I expect a decent year-end bonus and am trying to decide how best to use it. I want to grow our investment portfolio while my wife thinks we should pay off all debt. What would you recommend? 

Blessed with a Bonus 

Dear Blessed with a Bonus, 

Congratulations! This is a nice problem to have around Christmastime!

I’m glad to hear you don’t want to spend it on yourselves or blow it all on one “big” Christmas! Or splurge on the latest iPhone or luxury vacation as a reward for all the hard work. That’s what many do. Wise action will provide far greater rewards!

I don’t know your financial situation, the amount of total debt you carry, or the size of your bonus. All that and more personal details would be helpful; but regardless, I think you and your wife should compromise and find unity in the use of your bonus. If you do that, my advice is likely not necessary. 

My wife, like yours, hates debt and finds security in owing no money to anyone. Like you, I enjoy investing and watching funds grow. The key to financial harmony in marriage is to listen and make plans together. So, pray together and separately ask God for wisdom in this decision as you apply these Proverbs: 

Commit your work to the Lord and your plans will be established. (Proverbs 16:3 ESV)

The heart of man plans his way, but the Lord establishes his steps. (Proverbs 16:9 ESV)

A Suggested Plan for Your Bonus

1. Don’t spend it until it’s in the bank! Or as my wife would say, “Don’t bank on presumption!”
2. Give cheerfully first as led by Christ and in unity with your wife.
3. Pay down personal loans and credit card debt with high interest rates. Do you have any auto loans, student debt or mortgage? I agree with the advice of Stephen Williams, of BMO Private Bank. He says it is best to attack credit card debt. “Pay that down or pay it off completely with the bonus, because if you’re paying credit card interest of 15 percent, it doesn’t really make any sense to invest money in the stock market and hope you outpace the 15 percent. That’s a tough ask.”
4. Fund an Emergency Account. Since you already invest, I assume you have at least $1000 set aside. You should aim to have 3-6 months expenses in a secure account. This will give you peace of mind in the event of an unexpected job loss, illness, or catastrophic event. 
5. Invest: Max out a 401(k) and take advantage of your company’s match program. If that’s not an option max out an IRA. The Roth doesn’t have any upfront benefit, but contributions and earnings are withdrawn tax-free when you reach a certain age. Mind the income cap. With a traditional IRA you’re taxed on contributions and earnings. Max out your HSA – health savings account. You can keep it for as long as you want, even if you change jobs. While available for qualifying medical care, you can also use it in retirement planning. Consider investing in low-cost index funds like Warren Buffett recommends. Or consider investing in yourself by enrolling in a course to increase your skills, a conference to build your network, or a good pair of tennis shoes for your health.
6. Plan for large expenses in the future – home, car, vacation, or starting a business. 
7. Will you owe taxes? Consider setting a sum aside to cover that.

If you want a tangible reminder of your hard work this year, discuss with your wife how that might look. It could be a special dinner together, a day devoted to something you both enjoy, or an overnight getaway. Just remember that your marriage deserves more attention than your career and money. In fact, a good marriage is associated with greater levels of upward economic mobility.  My wife and I wrote a book called, Money Problems, Marriage Solutions; it would make a great Christmas present! 

Remember to thank God for His generous provision. Merry Christmas to you and yours.

Originally posted on the Christian Post, December 20, 2019.

Dear Chuck,

I’m a recent college graduate with my first “real” job. With that comes paying into the Social Security System. My concern is whether or not there will be funds for me someday, especially in light of the recent deficit report.  

Worried Millennial

Dear Worried Millennial, 

First, I am impressed with a number of things about your question: first, that you are curious about the Social Security System and second, that you are aware of the out-of-control federal deficits. For far too many people, young and old alike, their contributions to social security are out of sight and out of mind. 

Will Social Security Go Broke? 

You’re hitting on a hot topic. Many fear that the money to fund America’s Social Security program will run out and a large portion of our population will be negatively affected. The money for this benefit comes from three sources:

• 88% from the Social Security tax
• 4% from income taxes recipients pay on their benefits
• 8% from interest on money in the trust funds

Some of the concerns voiced by people like you include:

The Funding Issue

Money raised by Social Security taxes is invested in non-marketable securities. These trust funds are projected to run out by around 2034. But, with the tax continuing to raise money, the program is projected to cover nearly 80% of its obligations through 2090. Despite the fact that the fund could be depleted by 2034-35, the program could still pay out what it takes in from Social Security taxes. This would pay an approximate 80% of the benefits for retired and disabled workers.

The Changing Population

Families are continuing to get smaller. Lower birth rates mean fewer people will be paying into the system. People are living longer than when the program was first started so they are collecting more money. This means more money will be needed for the program but fewer and fewer workers will be paying into the fund. 

 The American Association of Retired People (AARP), has addressed these concerns with a list of recommended solutions:  

 Some Proposed Solutions

• Raise the retirement age for people to begin receiving payments
• Increase or eliminate the payroll tax cap
• Increase the payroll tax rate
• Reduce benefits for higher earners
• Tax salary reduction plans like 401(k) plans and Flexible Spending Accounts
• Cover all newly hired government employees
• Increase the number of years to calculate initial benefits

Some of the AARP solutions would be helpful while I don’t agree with others. I don’t like trying to solve problems by increasing taxes. The private sector has proven to be far more efficient managing funds than the public sector. 

Many professionals do not consider the Social Security program to be in danger. It is deficit funded, surpassing the one trillion dollar mark in fiscal year 2019. And, those deficits are here to stay due to the government’s entitlement programs. Changes will certainly have to occur, but you should not worry that it won’t be there in the future when you reach retirement age. Here’s my take and advice.  

I believe you’ll get Social Security benefits. 

The government has a moral and legal obligation to pay out the benefits that have been paid in. It is highly unlikely that they would ever fail to make payments to those who have paid into the system. However, the value of what is paid out may be devalued and be far less helpful than it has been to past generations. 

Don’t rely on it.

Assume the responsibility for saving and investing yourself 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)

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 be increased motivation for us 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)

 Many people carry excessive credit card debt and find themselves trapped in a cycle of borrowing. If you are experiencing this burden, get in touch with our friends at Christian Credit Counselors. They have helped over 300,000 families experience freedom from their debts and can help you, too.

Do Not Fear.

We do not know what tomorrow holds. Therefore, don’t waste your time or emotions concerned about Social Security. Instead, live frugally, give generously, save regularly, and invest wisely. And, 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)

Congratulations!

It is exciting to be on your first real job. I hope it goes well for you. Live in such a way that whether social security is here for you or not, that you will be at peace. The Lord will be there to provide your needs in all circumstances.

Originally posted on the Christian Post, December 6th, 2019

Dear Chuck,

I inherited a significant amount of money this year. Although I am very grateful, I’m feeling the weight of responsibility to steward this well. I look forward to giving more to the Kingdom and want advice on how to please God with all my decisions. 

Burdened by this Wealth

Dear Burdened, 

First, I am so pleased to know that you are feeling the weight of this responsibility. The Bible does say that “to whom much was given, of him much will be required” ( Luke 12:48 ESV). Too often, when we receive a great blessing, we forget that it comes with great responsibility as well. 

Second, I hope you have been regularly and cheerfully giving to God’s work before this inheritance and plan to continue this practice, and even begin giving more and more as you have expressed.

There are a number of Biblical principles and personal tips I will share with you to give you some guidelines for pleasing God. 

An Eternal Perspective 

God wants to spare us the sorrow that can accompany worldly wealth. “The blessing of the Lord makes rich, and he adds no sorrow with it.” (Proverbs 10:22 ESV) He does that by asking us to trust Him enough to give part of it away. He wants us to let go of it. It sounds as if you understand that, but you must continually guard your heart. 

God took a risk to bless us so richly. The risk is that we might fall in love with the blessings and forget the One who blessed. To minimize that risk, God designed an economy quite different from the world. It’s based on sharing, not hoarding or squandering. It is vital that we learn to be generous with others to avoid the dangers of trusting in our possessions. As we advance God’s kingdom by practical means, we experience true riches through giving.

We must avoid putting our security in the abundance that God has given us, and live with open hands to bless others and bring Him glory.

“Honor the Lord with your wealth and with the firstfruits of all your produce…” (Proverbs 3:9a ESV)

“It is more blessed to give than to receive.” (Acts 20:35 ESV)

Pass the Money Test

I believe God gives each one of us a “Money Test.” He gives resources to us and will demand an accounting of how we use what He gives. He is interested in one thing: Did you use money for your own interests or His?

“So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” (Luke 16:11 NIV) 

To those who pass the “Money Test” by remaining faithful to love and serve God and His purposes, the long-term rewards are defined as the true riches. These are the blessings of living according to God’s financial principles and enjoying both the present and eternal rewards for keeping our hearts faithful to Him. These are the riches that cannot be lost, stolen or destroyed in contrast to mere worldly wealth.

Care for the Poor

God wants us to serve those who are hurting, who are weak and who need hope and encouragement. Remember Peter, James, and John’s words to Paul when he returned after fourteen years? They accepted his sharing the gospel to the Gentiles, but added one request:

 “Only, they asked us to remember the poor, the very thing I was eager to do” (Galatians 2:10 ESV).

Be Cautious 

Proverbs 13:11 (ESV) says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Be cautious managing and investing your resources by surrounding yourself with Godly counselors that do not have a conflict of interest with the advice they give you. Be very slow, discerning and patient when deciding where and how much to invest. My tip is to avoid making any major purchases for a year. After the year is over, when tempted to spend a lot of the money you received, pray and ask God for His wisdom. Wait 30 days after you are at peace with the purchase and then ask yourself, “Can I live without this?” 

Some of what I’ve mentioned here comes from my book, Root of Riches. I recommend you pick up a copy and read more in depth what the Bible says about money and possessions. I also recommend my friend Randy Alcorn’s book, Money, Possessions, and Eternity.

Thank you for writing. Let us know how we can help in the future. Happy Thanksgiving!

Originally published on the Christian Post, November 29, 2019

Dear Chuck,

I am going home to have Thanksgiving with family I haven’t seen in years. I was recently diagnosed with cancer. Before I met Christ, I squandered money and relationships. I’m worried about how to relate to my family again. It could be very awkward for us all. 

Prodigal Son

Dear Prodigal Son, 

First, I am sorry for your diagnosis with cancer but very glad you are returning home this year. Thanksgiving is a perfect time to reflect on God’s goodness and to make amends with friends and family. Before you go, ask God to prepare your heart and those you will see. And, consider the following.

A New Perspective on Life 

I don’t know how dire your diagnosis is. But, you must be looking back on your life and considering your future. This is very healthy and will reshape your entire perspective. 

A funeral company in South Korea conducts living funerals “to help people appreciate their lives and seek forgiveness and reconciliation with family and friends,” says Jeong Yong-mun. He heads Hyowon Healing Center where more than 25,000 people have “died” to learn to live.

Teenagers to retirees are participating in these living funerals. They put on shrouds, take funeral portraits, write their last testaments and actually lie in a closed coffin for ten minutes.

Professor Yu Eun-sil, a doctor at Asan Medical Center, wrote a book about death. He believes it is valuable to prepare for death even at a young age.

The Healing Center attempts to communicate to people that they matter. That happiness is in the present and that someone would miss them if they were gone.

Jeong Yong-Mun says, “We don’t have forever. That’s why I think this experience is so important – we can apologize and reconcile sooner and live the rest of our lives happily.”

Larry Burkett, Crown’s late founder, who was diagnosed with cancer as well, said that “everyone should experience a verbal pronouncement of terminal disease”. He said that it quickly puts “everything into perspective.” Even in the midst of great hardship, I hope you have experienced that blessing from your diagnosis. 

Be Grateful

God, our Provider, is generous and merciful. The future He promises for those who have put their faith in Him grants hope. When the Prophet Jeremiah was grieving, he said:

But this I call to mind, and therefore I have hope: The steadfast love of the Lord never ceases;

his mercies never come to an end; they are new every morning; great is your faithfulness.

“The Lord is my portion,” says my soul, “therefore I will hope in him.” (Lamentations 3:21-24 ESV) 

Choose to Forgive and Reconcile

To avoid or root out bitterness, seek to mend broken relationships. Verbally forgive others and ask for forgiveness. Like Paul said:

Let all bitterness and wrath and anger and clamor and slander be put away from you, along with all malice. Be kind to one another, tenderhearted, forgiving one another, as God in Christ forgave you. (Ephesians 4:31-32 ESV)

Love Well

Corrie Ten Boom, author of The Hiding Place, knew pain and suffering. And, yet she clung to the Lord. She said, In darkness God’s truth shines most clear. And: There is no pit so deep, that God’s love is not deeper still.

God loves you and nothing can separate you from His love. When you cling to this fact, you can be a vessel in the hands of God to be poured out for others.

Put on then, as God’s chosen ones, holy and beloved, compassionate hearts, kindness, humility, meekness, and patience, bearing with one another and, if one has a complaint against another, forgiving each other; as the Lord has forgiven you, so you also must forgive.  And above all these put on love, which binds everything together in perfect harmony.  (Colossians 3:12-14 ESV)

Be Generous 

Regarding your comment that you have squandered your finances in the past, make a plan to be generous with your loved ones to demonstrate to them that you are no longer self absorbed with money. 

In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’ (Acts 20:35 NIV)

Perhaps you can take gifts or make an effort to supply food items for the Thanksgiving meal or contribute to the costs others have undertaken to be the hosts. Your generosity will speak volumes to your family. 

I pray you choose to recognize that every day you have is a gift from God, available to be spent for His glory. May this event be a turning point for you and your family. There is no greater joy than when a prodigal returns home.  

Happy Thanksgiving!

Originally published on the Christian Post, November 22, 2019

Dear Chuck,

I need your advice. My husband thinks we should get an installment loan to update our home. Although we can do a lot of the labor ourselves, we need materials, tools, and some professional labor to get what we both want. I would rather save for a year, but he has time in his schedule and would like to start over the holidays. Which approach is best? 

Fixer Upper Fever

Dear Fixer Upper Fever, 

With the impact of the wildly popular TV program, Fixer Upper, many people are looking to make significant improvements to their home. 

I was just recently in Cape Town, South Africa hosted by a Christian couple who also have “Fixer Upper Fever”. They had several books by Chip and Joanna Gaines on their coffee table and the wife told me how she hoped to travel to Waco, Texas one day for inspiration and ideas for their home! 

Let me help you with that fever. There are good ways to fix up your home; those would be additions that add value. And there are bad ways to fix up your home; those would be additions that do not add value but cost time and money. 

But your question is not centered around what additions you want to make as much as how you plan to pay for your fixer upper dream come true: by paying cash or borrowing money. 

Fixing Up the Home Using an Installment Loan

I want to give you some insights into the ‘installment loan industry” before I give you my advice. Installment loans are borrowed funds that are repaid in equal parts over a set period of time. They are different from credit cards or revolving credit which varies monthly. In some cases, installment loans can be creatively structured to fit your time table. 

Personal loans, auto loans, and home mortgages are types of installment loans. And, there’s a rise in online installment borrowing. Many of the same subprime lenders that specialized in payday lending are now promoting online installment loans.

Americans are becoming increasingly dependent on debt. We see it in the form of unsecured personal loans, mortgages, auto, credit-card, and student debt.

After the Great Recession, many payday lenders saw the “opportunity” to meet the needs of the working class through loans that side-stepped regulations. Over a period of five years, non-prime borrowers have accumulated approximately $50 billion on installment plans. 

Those of us who studied and survived the subprime mortgage crisis hear alarms at the increase in debt among the less than prime borrowers. Payday loans are perceived to target America’s poor, but these online installment loans aim for the working-class who are struggling to keep afloat.

Granted, there are times when a loan is necessary. Emergencies hit when many are unprepared. People who can borrow from a reputable institution like a credit union get interest rates that are usually much lower.

Consider the pros and cons of installment loans: 

Pros

• Known monthly payments grant ease in budgeting
• Usually fixed interest rates for longer time than payday loans

 Cons

• May not be able to increase the loan amount once funds are received
• Some lenders charge high fees and take advantage of people with poor credit 
• Fast-cash offers often come with predatory lending practices 

Many Americans are unable to discipline themselves when it comes to credit and spending. They buy what they want, when they want, with no concern for the future. They do not realize the real needs that exist in the future and their lack of planning will be their demise.

When Jesus addressed the crowds about the cost of becoming a disciple, he gave some vivid illustrations. This was one: For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? (Luke 14:28 ESV)

The Old Fashioned Way – Pay For it With Cash

I am very encouraged that you and your husband are considering paying for your home improvement with cash. This has many benefits that we often fail to consider: 

• The overall cost of the improvements are much lower since you are not paying interest on a loan. 
• You will be more careful with the money you are spending since it impacts your budget immediately. 
• You will sleep better at night knowing debt is not hanging over your heads. 
• You will remove the sense of urgency that you need to borrow the funds and jump right into the project. 

My Advice 

Obviously, I think you should hold off until you can pay for the project in cash. However, it is a good idea to be on the same page with your spouse. I suggest you set time aside together and ask yourselves these questions.  

• Do you plan to sell the house? If so, when do you think that will happen?  
• Is there a need for repairs/remodeling to be done now? 
• Have you discussed paying with cash as you go instead of borrowing a lump sum now? 
• Will your home appreciate in value with the changes you plan to make? Are you sure? 
• Are these necessary repairs and routine maintenance or just cosmetic changes?

Before you borrow, analyze whether you can comfortably repay it on time. Since I don’t know your complete financial picture, borrowing and starting now may have advantages to you and your family that I am unaware of. Just remember, there will be unexpected expenses in your future. 

Living in peace together in your fixer upper is the best plan.  Don’t voluntarily bring stress into your lives that could rob you of the freedom and abundant life God designed for you to enjoy no matter how convenient it might seem to start the remodel quickly. 

I’d encourage you, and any couples wanting to get on the same page about their finances, to go through the Money Dates Crown offers. You can access them for a donation of any amount or for free! You’ll also gain access to a library of other resources and courses – check it out on Crown.org now!

Originally published on the Christian Post, November 15, 2019