Faithful Finances 101

Welcome to

12/6/2009Jeff Durham

West Side church of Christ

- Politics- Religion- Money

What three topics does society often recommend

not be discussed?

Faithful Finances 101Why discuss this topic and why now?

- Today’s economic environment attracts our attention

- Households are challenged by financial pressures from both the income and

expense sides of the equation- Understanding our Christian

responsibilities in money management is as important as other Biblical subjects but

is sometimes overlooked

1- Gain a better understanding of Biblical teachings/concepts of money

management and stewardship

Three basic goals/objectives for our class:

2- Discuss practical applications of these teachings

3- Develop tools to help us better manage/monitor our financial

resources

*Disclaimer:No top-secret investigations, computer

hacking, or other such methods have been utilized to obtain any information about

your personal or family financial situations in the development of this class material.Any specific content discussed that may

apply to one’s individual circumstances is purely coincidental.

“God’s Economics 101”

• Key principles of “Human Nature” Economics:It’s all about me, from me, and for me!

• God’s Economics Principal #1:

It’s all about God.- As creator, God owns it all anyway.

The source of much of the “God’s Economics 101” section of today’s lesson comes from the book “Take God at His Word-Experience the Power of Giving” by Dr. Kregg Hood as presented by Fred Selby in Blacksburg, VA. - JD

“God’s Economics 101”

• Psa 24:1 A Psalm of David. The earth is the LORD'S, and the fulness thereof; the world, and they that dwell therein.

“God’s Economics 101”• 1Chron. 29:11 Thine, O LORD, is the

greatness, and the power, and the glory, and the victory, and the majesty: for all that is in the heaven and in the earth is thine; thine is the kingdom, O LORD, and thou art exalted as head above all.

• 1Ch 29:12 Both riches and honour come of thee, and thou reignest over all; and in thine hand is power and might; and in thine hand it is to make great, and to give strength unto all.

“God’s Economics 101”• Psa 50:7 Hear, O my people, and I will speak; O Israel, and I

will testify against thee: I am God, even thy God. • Psa 50:8 I will not reprove thee for thy sacrifices or thy

burnt offerings, to have been continually before me. • Psa 50:9 I will take no bullock out of thy house, nor he

goats out of thy folds. • Psa 50:10 For every beast of the forest is mine, and the

cattle upon a thousand hills. • Psa 50:11 I know all the fowls of the mountains: and the

wild beasts of the field are mine. • Psa 50:12 If I were hungry, I would not tell thee: for the

world is mine, and the fulness thereof.

“God’s Economics 101”• God’s Economics Principal #2:

It’s all from God.- A significant difference between source and means.

• God is the source. 1Ch 29:12 Both riches and honour come of thee, and thou reignest over all; and in thine hand is power and might; and in thine hand it is to make great, and to give strength unto all.

“God’s Economics 101”

• God is the source.

1Tim. 6:17 Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy;

“God’s Economics 101”• God provides us means.He gives us the ability to make a living.Deut 8:17 And thou say in thine heart, My

power and the might of mine hand hath gotten me this wealth.

Deut 8:18 But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day.

“God’s Economics 101”• God provides us means.He gives us the “seed”.

2Cor. 9:10 Now he that ministereth seed to the sower both minister bread for your food, and multiply your seed sown, and increase the fruits of your righteousness;)

“God’s Economics 101”

• Our bank accounts, abilities, intellect, etc. are not the sources of our provisions/blessings, rather the means by which God (The Source) provides.

“God’s Economics 101”• God entrusts more and more of His material

resources to us as we prove we can be trusted to manage them effectively.

- Parable of the Talents (Matt. 25:14-30)- God’s Law of the Harvest

2Co 9:6 But this I say, He which soweth sparingly shall reap also sparingly; and he which soweth bountifully shall reap also bountifully.

“God’s Economics 101”• God’s Economics Principal #3:

It’s all for God.- Everything we possess is on loan from Him so we can use His resources to:

1- Bring Him glory2- Provide for His people3-Expand His Kingdom

“God’s Economics 101”• As God’s “resource managers” we are to:

1- Share with God’s people who have need (Rom.12:13; I John 3:17)

2- Support our families (1 Tim. 5:8)

3- Support ministry projects/programs (Rom. 15:25,26) and provide care for widows (I Tim. 5:16)

4- Support the physical needs of leaders, teachers, workers in God’s service (Philip. 4:15, I Tim. 5:17,18)

“God’s Economics 101”• Understanding the Biblical principals that all we

have belongs to Him will help us have the proper attitude and prospective on how we can best utilize our resources to meet our basic needs but also give back to Him to further His kingdom.

(more about stewardship in future lessons)

“Getting Practical”

• Our money does exactly what we tell it to do!• Develop a plan of attack:

- bottom line: keep expenses below income- monitor what’s coming in and going out- have a spending plan (dreaded “b-word”)- have the discipline to stay on track- deal with existing debt; avoid new debt!

1- Live within our means

“Winning at money is 80% behavior and 20% head knowledge.” – Dave Ramsey

“Getting Practical”

• If we live too close to the financial edge, when unplanned things happened, we are wiped out!

• Creating a larger “buffer” between what we earn and what we spend eases our anxiety about our obligations and creates opportunities to do more good for the Lord’s Cause (2 Cor. 8:14).

2- Create Margin

“Getting Practical”

• Philip. 4:11-12 “Not that I speak in respect of want: for I have learned, in whatsoever state I am, therewith to be content. I know both how to be abased, and I know how to abound: every where and in all things I am instructed both to be full and to be hungry, both to abound and to suffer need.”

• Heb. 13:5 “Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.”

3- Learn to be content

“Getting Practical”

• Recognize Satan’s lies.- Satan entices us to be dissatisfied with what we have, constantly tempting us to want something newer, bigger, better than what we already have.

• Overheard in the Durham household many years ago by one of the girls:

“If I see it on my TV I can have it!”• Luk 12:15 And he said unto them, Take heed, and

beware of covetousness: for a man's life consisteth not in the abundance of the things which he possesseth.

3- Learn to be content

“Getting Practical”

• Differentiate between needs and desires/wants.• Choose to live modestly.• “Count your blessings” – focus on enjoying and

appreciating what you already have.• Change our perspective: Instead of asking “Why

don’t I have more?” or “Why don’t I have what they have?”, ask “Why do I have more than I need?”

3- Learn to be content

47 simple ways to waste money

(adapted from moneycentral.msn.com article by Karen Datko & Paul Michael)

2) Spend you spare time surfing the “bargain sites”. It doesn’t

matter if you don’t actually need anything. You’ll find

something to buy.

47 simple ways to waste money

3) Shop hungry. It’s amazing how much extra food you’ll throw in

your cart.4) Draw more money out of the ATM than you need. If you get

$20, you’ll spend $20. If you get $40, it will disappear just as

quickly.

47 simple ways to waste money

5) Become an impulse buyer. See something in a shop window, grab

it immediately and worry about the cost later.

6) Pay bills late. That will eat up serious cash in the form of late fees

and interest rate hikes, and sometimes will damage your credit

rating.

47 simple ways to waste money

7) Lend money to people who won’t pay you back, even when they say it will be different this

time.8) Don’t shop around. The first

place you look is almost certainly not the best price available.

47 simple ways to waste money

9) Don’t buy online. Those “High Street” retailers have lots of extra overhead, and they pass it on to

you by marking up their products.10) Go to a state fair or carnival and buy lunch from a concession stand

for your family: $8 hotdogs, $4 sodas. Multiply by number of

family members.

47 simple ways to waste money

12) Buy complete albums instead of cherry-picking the songs you want from a music

download site (unless, of course, you always buy albums

that are 100% brilliant from beginning to end).

47 simple ways to waste money

13) Never double-check your measurements on a DIY project. You’ll make at least one big mistake and have

to buy another round of materials.

14) Forget returning movie rentals on time. Red Box may only be $1/night, but rent two and leave them behind

the sofa, and that can add up quickly.

47 simple ways to waste money

This week’s assignment…