Today at Master Your Money

Young People #10: “How Do I Stay On Track? A Spending Plan”

Master Your Money — Tue, 03 Jul 2012 19:00:00 GMT

Dear Friends:

I love the saying, “If you don’t know where you’re going, you’ll hit it every time!” Financially speaking, many people your age go through life without thinking about where they are headed. You live in a generation that is gratified by instant feedback and that values recreation and experiences. Since money is often the means to those ends, it is easy to end up spending haphazardly, without a plan.

Today, I hope you heard clearly what I said on the video about having a plan being ...

Young People #9: “What Would God Have Me to Do?”

Master Your Money — Thu, 21 Jun 2012 20:00:00 GMT

Dear Friends,

I am passionate about the topic on the table today. I sincerely believe that every spending decision is a spiritual decision. Every money issue is a heart issue. The prophet Ezekiel in the Old Testament spoke about God’s plan through Christ, when he prophesied, “Moreover, I will give you a new heart and put a new spirit within you; and I will remove the heart of stone from your flesh and give you a heart of flesh.” (Ezekiel 36:26, NAS If we are ...

Young People #8: Financial Freedom vs. Financial Contentment

Master Your Money — Wed, 06 Jun 2012 18:00:00 GMT

Dear Friends:

When my children were young, I used to read books aloud to them at night. They enjoyed the funny ones a lot, but the adventure stories always captured their imaginations. Any good adventure book or movie always tells the story of a quest for good to prevail, in some form or fashion. I believe that this “journey of good over evil” theme is so fundamental to great storytelling because it reflects the story of God’s redemption of His creation and of humanity through ...

Young People #7: Six Foundational Principles

Master Your Money — Wed, 23 May 2012 20:00:00 GMT

Dear Friends:

The fundamental principles in this week’s video are the six things that I have come back to over and over in my counsel of people from all income levels over the years. They seem simple, because they are, but it is a rare person who is able to really live according to the principles over time.

As a young person, you have a unique opportunity to begin your financial life from a point of strength. Your generation is drawn ...

Young People #6: Eternal Compounding Through Generosity

Master Your Money — Wed, 09 May 2012 18:06:25 GMT

Dear Friends:

Generosity is the engine that fuels my passion for what I do. Having spent a lifetime committed to helping Christians understand and use their money with an eternal perspective, I have watched literally hundreds of lives changed by the power of generosity.

When we give, we open our hand to God. Giving is THE significant way that we surrender our resources back to God, for His use and for His glory. In doing so, our hearts are freed from the worship of money. In ...

Young People #5: The Dangers of Debt

Master Your Money — Wed, 25 Apr 2012 18:00:00 GMT

Dear friends,

Dear YOUNG friends... I am really enjoying this series aimed at your age group (18-30) as we go through some of the fundamental principles of financial well-being.

This topic of debt is of utmost importance to me. I spent a longer than usual time on the video today telling you about the litmus tests of taking on debt (don’t let the magic of compounding work against you, don’t deny God an opportunity to work, and don’t presume upon ...

Young People #4: The Magic of Compounding

Master Your Money — Wed, 11 Apr 2012 15:00:00 GMT

Dear Friends:

My wife and I celebrated our 47th anniversary yesterday. Officially, that makes me old! But, it also makes me wiser than I was on my wedding day in 1965. If I have learned anything in my marriage, I have learned that investing kindness and love in my marriage relationship on a consistent basis pays long-term dividends. I cannot expect my wife to react well to me or to feel secure in our marriage if I am not consistently “depositing” acts of love toward ...

Young People #3: Money Issues Are Heart Issues

Master Your Money — Wed, 28 Mar 2012 18:00:00 GMT

Dear Friends,

We are in the middle of a series targeted toward young people. I’m energized by this series; because I know how transformational it is when someone makes begins making wise money choices from a young age. Becoming an adult, though, is a complicated process involving a lot of demands and pulls. Therefore, disciplining oneself to learn about financial wisdom and then implementing that wisdom will be a challenging process for any of you who choose to embark on the journey.
...

Young People: #2 “What is the real purpose of money?”

Master Your Money — Fri, 16 Mar 2012 16:00:00 GMT

Dear Friends,

I am so excited to be involved in this series of teachings to young people! When I was in my early 20s, I believed that the key to happiness and fulfillment was found in achievement and acquiring possessions. Before I was 33 years old, I had “made it” from the world’s perspective…new home, country club membership, new cars, nice vacations, beautiful wife, and a fast growing career. When I met Jesus Christ the year that I was 33, He began to show me ...

Young People: #1 Why Does God Care About My Money?

Master Your Money — Wed, 29 Feb 2012 19:00:00 GMT

Dear Friends:

I am so excited about this video series! Recently, in many ways, God has been revealing to me that there is a need in the younger generation to be exposed to the holistic, fundamental financial truths that God reveals to us in His Word.

If you are young and are reading this blog or watching these videos, welcome. What I will share with you over the next twelve videos is really a summary teaching on making wise financial ...

Transcendent Planning Principles - #6 (God Owns It All)

Master Your Money — Wed, 08 Feb 2012 20:00:00 GMT

Dear Friends,

The six principles that we have been exploring have guided all of the advice and counsel that I’ve given over the years. As I mentioned in the video, God’s wisdom, as expressed in these principles, is both timeless and eternal. Keeping these six principles in mind (spend less than you earn, avoid debt, maintain liquidity, set long term goals, give generously, and remember that God owns it all) can draw the boundary lines for you as you make financial decisions…in any economy, at ...

Transcendent Planning Principles - #5 (Give Generously)

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

Dear Friends,

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

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

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

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

Dear Friends:

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

First of all, there are four ...

Transcendent Planning Principles - #3 (Build Margin)

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

Dear Friends:

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

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

Transcendent Planning Principles - #2 of 6 (Debt)

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

Dear Friends,

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

Transcendent Planning Principles - #1 of 6

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

Dear Friends,

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

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

Is insurance a lack of faith?

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

Dear Friends,

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

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

Health Insurance when Unemployed

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

Dear Friends,

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

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

Insurance: Should I have either disability or flood coverage?

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

Dear Friends:

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

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

New Healthcare Changes – What Do They Mean to Me?

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

Dear Friends:

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

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