Hope for your financial life and beyond

My Go To Bible Verse When I Worry About Money

March 3, 2022 by 12 Comments

If there is one thing I’ve discovered while monitoring my own finances through the years it’s this – the future is friends with worry. It’s inevitable. At some point I will worry about money.worry about money

I think many people are right there with me. A recent survey showed that 73% of Americans ranked their finances as the #1 stress in their life. That’s over things you’d think would cause more stress like relationships, career, family, kids and traffic on the freeway.

So what’s to worry about when it comes to money? Well, everything really.

First and foremost, we worry about how to make ends meet. Again, recent studies show that just over 60% of Americans are living paycheck to paycheck. That means they can only make ends meet from one paycheck to the next. That’s no way to live, wondering if you can make it to the next pay stub.

But there are other areas where people worry about money.

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Filed Under: God's Provision, Hidden Nuggets Series, Vices Tagged With: , ,

With God All Things Are Possible – Even Saving Rich People

February 24, 2022 by 4 Comments

“But Jesus looked at them and said to them, ‘With men this is impossible, but with God all things are possible.” – Matthew 19:26

On one occasion in the Bible a rich young ruler approached Jesus with a very serious question. The man asked Jesus what he must do to inherit eternal life. After a brief back and forth exchange Jesus had this final answer for him:

“If you want to be perfect, go, sell what you have and give to the poor, and you will have treasure in heaven; and come follow me.” (Matthew 19:21)

with god all things are possibleIt’s easy to misinterpret what Jesus was saying to the young man. He was not saying that owning possessions is bad. Nor was he saying that a person can buy their way into heaven. That can only happen through faith in Jesus Christ alone.

He also wasn’t saying that we all have to give up our wealth to enter heaven. And he certainly was not saying that God favors the poor over the rich. God looks upon all people with equal value regardless of their financial status.

So what was going on here? In essence, Jesus knew something about this particular man. It was something that was keeping him from following Jesus and inheriting eternal life. The man’s reaction to Jesus’ final instruction reveals exactly what it was.

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Filed Under: Hidden Nuggets Series, Vices Tagged With: , ,

It Is Not a Sin to Buy a New Car

February 17, 2022 by 49 Comments

Is it ever OK to buy a new car? You won’t find many people in the personal financial space advocating that practice. Why? Because a car is a depreciating asset, meaning that it goes down in value over time.

buy a new carHow fast do cars depreciate? Figures vary based on the make and model of the car and market conditions. But most estimates say that cars depreciate around 20% the first year, and 15% more each year in years two through five. So you can expect a new car to be worth around 40% of its purchase price after 5 years of ownership.

So looking at those numbers, this should be considered the cardinal personal financial sin. Anyone considering buying a new car instead of a used one runs the risk of being called a foolish, image-conscious over spender.

Used car purchases always outpace new car purchases. But still, data from 2020 shows 14 million new light trucks and automobiles were purchased in the United States.

So, is it really a big a deal to buy a new car? A large segment of society doesn’t seem to think so.

I’ll answer my own question by saying “It depends.”

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Filed Under: Spending, Vices Tagged With: , ,

Beware: All That Glitters Is Not Gold

January 27, 2022 by 9 Comments

You’ve probably heard the saying, “All that glitters is not gold.” Well, society would tell us differently. And so would one of the most iconic movie scenes of all time.

all that glitters is not goldIn the image that is coded into this post, you can literally see the burning desire in this man’s eyes to possess the golden treasure. This is THE MOMENT he has waited for all his life. The reward of his life’s journey is finally before him. Nothing could stop him now.

Except – in the immortal words of Admiral Ackbar of Star Wars fame – “It’s a trap!” You just knew that bag of sand Indiana Jones used to replace the idol when he lifted it off its resting place was not going to work.

In the next few moments as he ran for his life, he would face a collapsing cave roof, poison darts shooting from the cave walls, a treacherous guide, a giant rolling boulder, and native spear points. The worst part is he didn’t even get to keep the idol. His treasure-seeking arch rival with the help of the locals deprived him of that item.

Yes, it’s an extreme example. We’ll probably never face such a situation. But it does teach us a valuable lesson that all that glitters is not gold. Or in other words, not everything that can be attained is beneficial to us.

It sure does seem like bad things happen when we try to lay hold of something that we are not supposed to have. So if we are going to learn from this, we will have to look inward. And the looking starts with our eyes.

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Filed Under: Vices Tagged With: , ,

4 Big Mistakes of My 20s That Affected My Net Worth

January 17, 2022 by 23 Comments

What if? We all ask that at some point, maybe even about your net worth. It’s a reflective question, focused on things that have happened in the past. What could have resulted if the events or actions in our rear view mirror had proceeded in a different fashion?

net worth

In the absence of a Back to the Future time machine, we can’t change what has happened or that we did things the wrong way. So it does little good to dwell on it. That really only leads to regret.

However, the past does serve a big purpose. The past is the best teacher for our future. The victories we achieved and the mistakes we endured should help us make thoughtful and wise decisions going forward.

We make mistakes all the time but more so in our youth. This happens for many reasons but mostly because we lack experience. In our youth, we also have a difficult time envisioning the future and have a limited sense of our own vulnerability. Arrogance, self-promotion and a live-for-the-moment mentality are all more characteristic of the young than they are of the old.

As I reflect on the decade of my 20s I see many mistakes in all facets of life. These are the four that set me back financially and contributed negatively to the growth of my net worth.

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Filed Under: Managing Money, Vices Tagged With: , ,

All Work and No Play: Combating the Dangers of Workaholism

September 15, 2020 by 26 Comments

All work and no playDo not fear. I’m not writing from a snowed in mountain resort lodge. I have to admit for years I assumed the proverb “All work and no play makes Jack a dull boy” came from that Stephen King horror novel turned Jack Nicholson movie thriller The Shining, which mistakenly came in front of my eyes as a youth (thank you older cousins). I say mistakenly because no one under the age of 21 should put that imagery into their head. (And maybe if you are over 21, you shouldn’t either.)

As it turns out the phrase “all work and no play” was originally published in Proverbs in English, Italian, French and Spanish (1659) and is attributed to a writer by the name of James Howell.

The warning of the all work and no play proverb seems clear enough to me. If we don’t release ourselves from the pressures of work from time to time we will become dull and uninteresting. We become like the automated robot on the assembly line who only finds fulfillment in one thing – doing its job. When life becomes our work, we neglect time for hobbies, family, friends, exercise, watching sports, reading, or just plain vegging, all of which could add significant value to life if we let them.

That type of existence doesn’t spark a fire in me at all. Work definitely has value and should be something we take seriously. But life is so much more than working all the time.

So what should people battling with workaholism do? Fortunately, there is a path forward to a better work/life balance.

A Guideline For Work

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Filed Under: Faith, Vices, Work Tagged With: , ,

How to Enjoy a Life of Guilt Free Spending

July 1, 2020 by 41 Comments

guilt freeI would love to enjoy a guilt free life, especially when it comes to spending money. Have you ever heard the same voice rattling around in your head that I’ve heard in mine? It usually says something like, “Why did you spend that money? That was stupid! You know you shouldn’t have done that.”

If you’ve had that thought, then you know you spend the rest of the day kicking yourself and feeling like you’ve done something wrong. Additionally, some time during that same day might be spent seeking forgiveness from your spouse, which can always be a tense situation. And to top it all off, you will spend the rest of the month struggling to figure out how to make the budget cover your spending decision.

Guilt is powerful. But have you ever stopped to consider why?

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Filed Under: Spending, Vices Tagged With: , ,

6 Shocking Things Your Broke Friends Need to Hear You Say

June 24, 2020 by 17 Comments

If you’ve ever gotten into conversations with broke friends about money, you know how hard it is to determine if they actually want your help. There are several ways to figure that out and perhaps lead your discussion to a deeper level. If that happens, you’ll learn more about your friend’s financial struggles and perhaps be able to offer some counsel.

However, the counsel part is when it gets really tough. If you’ve had success with money, the answers seem obvious. You know what must be done.

broke friendsChange your habits.

Spend less and save more by following a budget.

Get out of debt.

Invest, invest, and invest some more.

The sad thing is your broke friends might not want to hear any of that. They are in financial trouble for a whole host of diverse reasons. And those reasons have a grip on their life that will make it hard to break free.

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Filed Under: Friendships, Vices Tagged With: , ,

The Bribe That Fueled the All-Time Greatest Easter Myth

April 11, 2020 by 9 Comments

easter mythMoney is at the heart of many cover-ups. Flash enough cash and some people could be encouraged to keep quiet. Make that sum of money big enough and they could even be persuaded to promote lie, even manufacture the greatest Easter myth ever created.

We would call this type of gift a bribe. It’s money given so that you act in someone’s favor – usually in a dishonest or illegal fashion.

Bribes have been given in different circumstances throughout history to conceal an action or advance an agenda. In one instance, a bribe was used to push an Easter myth that continues to be believed by many to this day.

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Filed Under: Faith, Vices Tagged With: , ,

The Most Important Reason You Do Not Worry About Tomorrow

February 2, 2020 by 10 Comments

You’ve probably heard it said at some point, “Hey, do not worry about tomorrow. Focus on today and let the future take care of itself.” That’s not bad advice really. The older I get the more I’m realizing why.

do not worry about tomorrowWe all have things that affect our actions from day to day. Things we’ve done in the past affect us in the present. Things we are doing in the present affect us in the present. And believe it or not, things that we will do in the future affect us in the present even though they haven’t happened yet.

You may be thinking, “How could that possibly be if those events have yet to occur?” Well, it’s not the event per se that affects us. It’s how we think about those yet-to-happen events and how they lead us to worry about them.

Of those three time lines – past, present and future – I think the future one has the greatest potential to stop us in our tracks. Here’s how.

Why You Do Not Worry About Tomorrow

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Filed Under: Inspiration, Vices Tagged With: ,

The Best Advice From God About Playing Video Games

February 27, 2017 by 21 Comments

I have a confession to make – I LOVE playing video games. In fact, even today at age 43 – I have to keep myself from playing them because it’s so easy for me to get sucked into their grasp. I can still play all day if I let myself go.

Technology propels society forward perhaps like nothing else. I came of age in a decade where the video game industry saw leaps and bounds like never before. I was seven in 1980 when perhaps the greatest video game of all time was released. Want to take a guess which game that was?

That’s right – Pac-Man.

But the 1980s saw even greater innovations that propelled the numbers of kids and adults playing video games to new heights.

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Filed Under: Faith, Vices Tagged With: , ,