Hope for your financial life and beyond

8 Questions to Ask When Setting Up A Family Inheritance

It’s hard enough to deal with the topic of our own death let alone what will happen to our possessions once we pass away. Setting up a family inheritance can get complex and technical. That’s why most people don’t deal with it.

family inheritanceThe aftermath of what we do could lead to a potential mess as this 2012 article from Fox News demonstrates:

“Heirs of a wealthy New York art dealer were left a $65 million sculpture [named “Canyon”]…The bequest comes with a $29 million tax bill, but since the piece includes a stuffed eagle, it can’t be sold…federal law makes it a crime to possess, transport, sell or otherwise convey a bald eagle, whether it is alive or, as in this case, stuffed…The venerable auction house Christie’s placed the value of “Canyon” at zero. The IRS initially put it at $15 million, then jumped the figure to $65 million…”

Most of us will never deal with numbers that large. But it’s no wonder we get confused with our heirs, the courts and the IRS all to think about. It all seems like a big tangled mess.

So what should we do?

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How to Get the Most Out of Christmas

Weeks ago, at the beginning of November, stores already had Christmas decorations on display. I know those stores are just trying to get the most out of Christmas season. But it’s too early at that point for me to think about Christmas.

get the most out of christmasFor me, December 1st officially starts my holidays. That’s because I know that in the 31 days of December, my family will attempt to cram more into each 24-hour period than is usually desired. For me, the annual cramming revolves around two specific lists – my December To-Do List and my Present Wish List.

The To-Do List for December is very important. It’s filled with kid activities, social get-togethers, Christmas programs and of course shopping. Additionally, home chores are also part of the To-Do List. So, because I’m a teacher, I get a “vacation” during Christmas break which gives me a greatly needed window to do these activities and catch up on all that I’ve let slip by.

The other list – the Present Wish List – is all about what I would like to receive on Christmas day during our annual gift exchange. This one is a little tricky and here is why.

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Operation Christmas Child: Changing Lives One Shoebox at a Time

I believe the Bible when it says, He who has a generous eye will be blessed, for he gives of his bread to the poor” (Proverbs 22:9). Spiritual and emotional blessings come when we give to others, especially those in challenging life situations. And this time of year I can think of nothing better to give to than Operation Christmas Child. 

operation Christmas childCan you imagine living in a world with no Christmas? What does that look like?

There are no kids eager to wake you up at 7:00 am. No smiles when a gift is received. No feelings of being special. And no comforting thoughts that someone cares for you.

What an unattractive and dismal scenario that paints. Sadly, millions of children all over the world experience a Christmas just like this. Their Christmas is bitter, meaningless and without hope.

That’s where Operation Christmas Child steps in. But they are only able to do so with your help. Here is how.

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How to Develop a Purposeful Plan for Giving Away Money

If you have found your way to this article, you most likely have a generous heart and enjoy giving away money to a favorite cause. But have you ever thought about how you give away money? Do you give purposefully or haphazardly as opportunities pass in front of you?

giving away moneyDeveloping a purposeful plan for giving away money might seem silly. You may want to give wherever and to whomever you like without feeling held back by a plan. There is great freedom in that philosophy. However, as I’ve found out over the years, there are also great dangers.

Putting together a purposeful plan for giving away money is a fundamental exercise you should go through. In short, it will help you have success with your finances.

Everyone who gets serious about their finances tries hard to make a monthly budget work. We make a plan to pay for the kid’s college. And we work tirelessly in order to support ourselves in retirement.

So why do we ignore this area of our finances where a lot of money could also pass through our fingers?

The fact is we shouldn’t ignore it. Here’s how to get purposeful with your giving.

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Giving for the Wrong Reasons this Christmas (Or anytime)

Christmas giving

In December, everyone’s focus is Christmas. There are so many activities to attend, so many destinations to travel to, and so much delicious food to consume. And there will be so much Christmas giving that takes place.

December is the month specifically devoted to giving. We regularly give in many ways throughout the year, but it all becomes focused during the December holiday season. Schools have students bring in clothing items for distribution to children in low-income families. Pastors preach sermons and urge their congregation to fill local food pantries. The Salvation Army kettles show up outside department stores. And of course, families celebrate the season by gathering around the tree on Christmas morning.

These are all good things designed to meet needs and bless people at a special time of the year.

However, if we are not careful, we can get hooked into Christmas giving for inappropriate reasons. This can have a negative impact on our budget, not to mention our emotional and psychological health. That’s why it’s important to analyze why we are giving in the first place.

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Give Money and It Shall Be Given Unto You? (Luke 6:38)

“Give and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom. For with the same measure that ye mete withal it shall be measured to you again.” – Luke 6:38

give and it shall be given unto youI’ve spent a lot of time cataloging all the Bible verses about money. I started this site years ago so that I could share what I learned about money from reading the Bible. There are literally hundreds of verses that give us positive instruction and warnings about the proper use and abuse of our money.

Unfortunately, individuals and churches have misinterpreted many verses in the Bible about money. It’s easy to do. Sometimes the verses are actually hard to interpret. Other times however, people do it to promote an agenda. In other words, people use these verses to teach and promote a message that isn’t there.

Of all the verses in the Bible about money, people abuse Luke 6:38 probably more than any other verse. It reads:

“Give and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom. For with the same measure that ye mete withal it shall be measured to you again.” (KJV)

Why misinterpret this verse so much? Because many have chosen to believe or teach that this verse means you can profit financially from giving. Let’s look at why this is incorrect.

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How Your Gifts Are Also Fit for a King (Matthew 2:11)

If you could give a gift fit for a king what would it be? You may think you would have nothing to offer such an important person. I’d suggest though, that no matter what your personal or financial status, you always have something to offer. I base that challenge on one of the more intriguing stories that surrounds the birth of Jesus.

fit for a kingThe book of Matthew tells us that Jesus received some special visitors shortly after he was born. We know them as the Magi, or the wise men from the East. We don’t know exactly where they came from although many speculate ancient Persia. The Bible doesn’t state how many there were. We do know they arrived sometime after the birth of Jesus because they came to visit Mary, Joseph and the boy at a house (Matthew 2:11) not in the stable, which many traditional Christmas scenes depict.

The Bible tells us that as the wise men entered the house that day, they came bearing gifts – gifts certainly fit for a king. We are told they bowed before Jesus,  “…and when they had opened their treasures, they presented gifts to Him: gold, frankincense, and myrrh” (Matthew 2:11).

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How to Easily Protect Yourself When Giving to Charities

Are you someone who loves giving to charities? My wife and I sure do. We make it a practice to give at various times during the year. But our interest really peaks during the holidays of Thanksgiving and Christmas.

There are so many charitable organizations that do great work at these times of year. It is true that people are in need year round. However, the depth and seriousness of focus seems to peak during the holidays. I think that’s because we have an innate – some would say God-given desire – to help those in need. Many of us have been blessed through the holidays and we want to pass those joys and blessings on to others.

giving to charitiesOf course giving to charities doesn’t have to be only about money. You can give of your time and talents as well. But for most, the easiest path is to donate money and let the charities put that to use the best way they know how.

But how do you know if your money will be used wisely? Perhaps the better question is how do you know if you are not getting ripped off or taken advantage of by a rogue charity or a scam artist?

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Buying the Blessings of God (Acts 8:19)

Hidden Nuggets Series #93 – “…he offered them money saying, ‘Give me this power also…'” (Acts 8:19)

Throw a few greenbacks in the offering plate and be showered with the blessings of God.

buying the blessings of GodIf only it were that easy. Think giving to churches or charities would go up if this were the case?

Unfortunately many believe it. There are churches out there preaching that the more money you give to God the more He will bless you. Misinterpretation of verses like Luke 6:38 (“Give and it shall be given to you…”) lend credence to the notion God’s favor can be bought for the right price.

It’s nothing new. This idea has been around for centuries. In fact, Peter – one of Jesus’ disciples – dealt with it in the early days of the church.

Trying to Buy the Blessings of God

Old habits are hard to break. Even when we’ve committed to turning over a new leaf the baggage still lingers. We often carry it forward for a while until we are weaned from its grip.

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When Giving Money Is the Wrong Gift (Acts 3:6)

Hidden Nuggets Series #92 – “Then Peter said, ‘Silver and gold I do not have, but what I do have I give you: In the name of Jesus Christ of Nazareth, rise up and walk.” – Acts 3:6

Can all problems be fixed by giving money to someone? Silly question…of course they can’t. Money doesn’t solve every problem. In fact, it doesn’t solve many problems.

There is nothing wrong with giving money to people when they need help. However, what if that’s not what they need most? What if their issue is deeper than the surface problems money can solve? Would we be doing a good service by only meeting their superficial need? I think not.

The funny (interesting) thing is sometimes people don’t even know what their real need is. They think it might be “X” when it’s really “Y”. Case in point this man, who one day had a run in with Jesus’ disciples Peter and John in the temple.

Giving Money or Miracle?

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If You Give Like This God Will Be Laughing

Hidden Nuggets Series #91 – “So let each of you give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver.” – II Corinthians 9:7

For some it’s the most boring part of the Sunday morning worship service. We think the preaching is OK and the music is fine. We even tolerate the meet and greet. But this 2-3 minute event many would just assume skip like the commercials on a DVR.

god loves a cheerful giverWhat am I referring to?

The moment when we give money to the church, otherwise known as the offering.

There are varying reactions to the offering, depending on your background. When I was growing up it was like halftime. Our Sunday morning equation followed this pattern: music – announcements – offering – more serious music – message – benediction (i.e. endless stanzas of “Just As I Am”).

So for me it was a break in the service. I’d spend the three minutes whispering to my friends, going to the bathroom or checking out the cute girl in pew three. Anything but giving.

As the teen years passed into early adulthood, some maturity began to take hold. I realized the value in these moments that take place during the service and did my best to honor them. But at times I’d still get mixed up in the wrong feelings and motivations about giving, feelings that I know are common with believers.

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