Bountiful: The Heart Of Money Management

One of the biggest financial decisions we make is regarding our housing. If we live on our own, our monthly rent or monthly mortgage payment is probably one of the biggest monthly expenses in our budget. Therefore, the question, “Should I rent or buy?” is one that a lot of people struggle to answer because they want be sure to get it right.Here are a few factors to consider when deciding whether renting or buying is right for you.Flexibility: renting provides a little more flexibility than buying does, particularly if you’re not sure how long you will be in a certain area.Insurance and taxes: homeowner’s insurance is generally more expensive than renter’s insurance, but there may be tax benefits in buying a home that aren’t available if you rent.Maintenance and repairs: if you buy a home, you’re responsible for all repairs, whereas if you rent, someone else may be responsible for these expenses.Renovating and decorating: if you rent, you may be limited in what you want to renovate or how you want to decorate.

In this episode, Robert and Emily Hatfield talk to us about transitioning to living on a single paycheck. Some things we discussed include:Preparing to transition to a one-paycheck householdConnecting with your “why” for living on one incomeThe importance of communicating with your spouse about financesPrinciples of leadership for husbandsAdvice for couples who are talking about going through a similar transitionConcerns and challenges of living on one income“You may bring home the paycheck, but it’s not all yours to spend,” said Robert, who works as the minister of the North Charleston church of Christ. His wife, Emily, stated, “I want to show I respect (my husband) by respecting the way I spend our money.” Both are faithful to the Lord, host podcasts on The Light Network, and have written books, which can be found in the “Links” section of this episode’s show notes.ResourcesLink to purchase “The New You” by Robert Hatfield: https://squareup.com/store/tln/Link to Preachers In Training podcast, hosted by Robe

For a lot of folks, personal finances are as scary as a haunted village on Halloween. Bank statements, credit card bills, 401(k)’s, IRA’s, taxes, and mortgages can seem to make up a haunted financial village. But instead of running away in fear, how can we overcome this? In this episode, Gary & Christy talk about how to overcome financial fears. The first step is to recognize that the fear is real, but it’s going to be okay. Personal finances are complex, and we should treat through them carefully. However, we can’t move forward if we avoid our situation. Setting aside financial plans for “later” is choosing to make things worse. Therefore, we must confront our fears, in part by creating a plan and educating ourselves. …casting all your anxieties on Him, because he cares for you. (1 Peter 5:7 (ESV))Linkshttps://www.moneytalksnews.com/halloween-time-face-your-financial-fears/?utm_source=newsletter&utm_medium=email&utm_campaign=%27The+8+Best+Things+to+Buy+at+Amazon+Today%27+and+morehttps://www.nerdw

The Bible tells us that in all labor there is profit (Proverbs 14:23) and whatever we do, we ought to work heartily, as for the Lord and not for men (Colossians 3:23). Rather than being a “necessary evil” work is a privilege. Each and every job has value. Nevertheless, we have our own unique situations, so not every job is the right fit for us. In this episode, Gary & Christy answer the question, “Is my job worth it?”On a related note, here are a few general principles that should always guide us as employees:Be kind and respectful even if the employer or the co-worker isn’t.Be patient even during frustrating times.Show integrity, even if those around you don’t.Be honest, even if others aren’t.Don’t “ghost” your employer.Linkshttps://www.linkedin.com/pulse/when-people-ask-you-how-stop-saying-busy-robert-glazer/?trk=eml-email_feed_ecosystem_digest_01-recommended_articles-10-Unknown&midToken=AQFcCl_BBZTKKQ&fromEmail=fromEmail&ut=2IIlg3-WC9gUA1https://www.linkedin.com/pulse/really-always-leave-of

The material blessings we receive are not really ours; everything (we mean everything) belongs to God. However, like a toddler who is reluctant to share a toy or a snack, as adults we may struggle with the concept that our possessions are not owned by us. If we’ve ben given lot of blessings for a long period of time, we can start to forget the origin of those blessings. We start congratulating ourselves on “earning” the blessings, and, as a result, we become reluctant to share those blessings with others. Spiritually speaking, we become just like a toddler – but doesn’t the Bible encourage us to put away childish things?In this episode, Gary and Christy mention five things we can do to keep the right perspective day-to-day.Every time you see your name written on something, imagine God’s name in its place. This would include your bank account statement, your car title, and your social media accounts. How would you act if those things had God’s name instead of yours? If God’s name was on your utility bill, woul

It’s common in early January to set resolutions for the new year. As Christians, we are to be faithful in our stewardship of the blessings God gives us, so setting a financial resolution is a great way to improve your financial AND spiritual life in 2019.In this episode, Gary and Christy talk about how to keep financial resolutions. Since resolutions have a tendency to fade away within the first month of the year, what are some ways we can keep those commitments going?Figure out what the real motivation is behind the resolution. Motivation determines our success because it can transcend circumstances.Are we prepared to change, or do we just want our circumstances to change? Change is uncomfortable, and sometimes we want a better result without putting in better effort.Are our resolutions specific, measurable, and realistic? If they are, then we can track our progress and determine how we’re doing as the year progresses. Success breeds success, so being able to see how we’re doing and setting smaller goals thr

The last 3 months of the year tend to be hard on bank accounts. For Halloween, we might buy costumes and candy as well as some decorations for the house. For Thanksgiving, we might travel or buy groceries, including the turkey. For Christmas, we might travel some more, get more groceries, and buy presents for our family, friends, the Secret Santa at work, or a gift exchange. Plus, don’t forget the Christmas decorations!While this time of year can be difficult on our budgets, we can keep to a spending plan that has some flexibility built into it so we stay within an amount we can afford. Unfortunately, so many spend money with no control, with no limitations, and everything seems unplanned. As a result, they may overspend because they feel like they have to in order to enjoy the holidays. But the good news is, it doesn’t have to be this way!In this episode, Gary and Christy talk about ways we can overspend our money and how we can avoid overspending during the holidays.ResourcesBountiful episode about what to

Are you content with what you have? If not, you can, like the apostle Paul, learn to be content. Contentment is something we continually work on; it’s a journey more than a destination. In this episode, Gary and Christy talk about contentment, how it’s different than complacency, and how we have the choice of whether or not to be content. In any and every circumstance, whether we have a little or we have a lot, we can learn the secret of contentment.ResourcesBible passages: Philippians 4:11-13, 1 Timothy 6:6-11; Ecclesiastes 5:10; 1 Timothy 6:17-19)http://www.romans45.org/spurgeon/sermons/0320.htmhttps://www.moneytalksnews.com/slideshows/21-habits-of-happy-people-that-you-should-try/?allEvaluate your bandwidth and set boundariesSchedule regular downtimeCreate realistic goalsListen to musicVolunteer regularly and be generousFind the humor in lifeSpend time outsideGet moving dailyConnect with good friends regularly – in real lifeCount your blessings ★ Support this podcast on Patreon ★

One of our goals as Christians ought to involve growing spiritually in the Lord. We want to live a life of consistent self-improvement so we can be more and more like Jesus. One responsibility each of us shares in this life is that we’re all stewards. We ought to manage the blessings God generously provides so that we may glorify Him.A way we can become better stewards is to challenge ourselves to do more with the material blessings we already have. So, here are a few ideas for short-term stewardship challenges – things you can do for a week, a month, three months, or maybe a little longer – to focus those things God has blessed you with on specific areas. Then, once the time period is over, you can return to your regular spending plan:Go on a spending fastAggressively attack debtNegotiateDouble your givingTeach your children about moneyOne-In, One-OutResourcesRelated episodes:Stewardship with Jonathan Medley:  https://thelightnetwork.tv/bountifuls4e6/Life Skills with Amanda Key:  https://thelightnetwork.tv/b

In American society, many of us tend to waste some of our resources. We waste time, energy, money, or other things. At the same time, we wonder how it could be possible for us to give more to the Lord when money seems tight already. We wonder how we could save more when there doesn’t seem to be much leftover. But, what if we thought about how we could use the financial resources we already have more efficiently? Some considerations:Limit impulse purchasesEase into new habitsResolve to be engagedCritique and challenge yourselfLinkshttps://www.bmc.org/nutrition-and-weight-management/weight-managementhttps://www.theguardian.com/environment/2018/apr/18/americans-waste-food-fruit-vegetables-studyhttps://journals.plos.org/plosone/article?id=10.1371/journal.pone.0195405https://www.cnbc.com/2017/01/10/11-useless-things-to-stop-wasting-your-money-on-in-2017.htmlhttps://www.marketwatch.com/story/brace-yourself-this-is-how-much-americas-1-has-saved-2018-08-24http://www.apa.org/helpcenter/lifestyle-changes.aspxhttps://ww

In this episode, Keith Kasarjian talks to us about what to know about finances before getting married. Some things we talked about include:Financial stress is a source of problems in some marriages, so how do couples talk about their financial situation effectively?How can expectations impact a marriage or a household’s finances?What’s a piece of advice for couples who are considering getting married?How can disagreements be worked out?“It can be challenging to see things how they truly are when we want to see them another way,” said Brother Kasarjian, who works as the Director of Extension Studies for the Bear Valley Bible Institute and lives in Prattville, AL. ★ Support this podcast on Patreon ★

Everybody has faced discouragement. How encouraging! But seriously, discouragement is part of living in this world, and God’s people aren’t immune to it. Elijah is a good example of a faithful servant of God who dealt with a bout of discouragement. Financially speaking, we can get discouraged by an unexpected expense, plans going slower than intended, the stock market, natural disasters, etc. However, in spite of discouragement being universal to us all, we can overcome it!Many people will deal with financial discouragement from time to time on their personal finance journey. When that happens, we need to take action. So, here are some ideas on how to overcome financial discouragement:Realize you’re not alone – and reach out for help. Everyone has made mistakes, including financial ones. It’s okay to talk about them in order to learn some lessons others may have learned the hard way.Set realistic expectations. Unrealistic expectations are the root of a lot of discouragement. When things don’t work out, even w

Gary and Christy talk with Dale Hubbert about financially preparing for retirement. Dale has worked in financial services for several years, and he is currently employed by a wealth management firm in Madison, AL. Dale is a father of three children and grandfather of 4. He also has experience in being a preacher and in helping charitable organizations, including brotherhood works, with their finances. At PTP in 2018, Dale spoke on topics like Handling the Financial Pressures of Life, Ten Ways to Give Other than Writing a Check, and Financial Planning for Retirement.  Some things we discussed in this episode include:What is retirement?When should we start planning for retirement?What are some non-financial aspects of retirement planning?How do we get started planning for retirement?Is it important to work with a professional financial planner?Wills, Advanced Medical Directives, and Durable Powers of AttorneyHow much to save for retirement?Life insurance optionsDale also visits congregations to present lessons

Nearly everyone, at some point, makes the decision to move out on their own.  Maybe it’s because you’ve finished with your schooling, and you’re now ready to be independent. Maybe you’re getting married. Maybe you got a job offer in a different city or state, so you’re relocating. Whatever the case is, most of us move out of our childhood home and create our own home. And, for most people, we actually don’t have everything figured out at first. We feel ready for the additional freedom, but we aren’t fully prepared for the additional responsibility. In this episode, Gary and Christy pull from some of their personal experience to help you avoid some of the common mistakes when someone moves out on their own.There are spiritual things to consider before moving out on your own, so have a game plan to address those. Is there a congregation you can worship with near your new residence? Remember that just because you’re no longer living under another person’s rules doesn’t mean  you live under no rules. God still ru

In this episode, Gary and Christy bring back Jonathan Medley as a guest to talk about Stewardship. Jonathan is a blogger for Perspectives of a Bondservant, a father of three children, a banker, and a Bible school teacher (among other things). He recently taught a Bible class on the topic of Stewardship and discussed that with us, including:What is stewardship?What does stewardship entail?Why is stewardship important?Is money the only area in which we ought to be stewards?How can we be good stewards of the money God gives us?About how stewardship is mentioned in the Bible, Jonathan states, “The concept of it is everywhere and surrounds everything that we’re doing.” Definitions of stewardship from various preachers:Don Blackwell – “Stewardship relates to my management of God’s resources.  I may handle them well or irresponsibly, and I will answer accordingly.”Jack Honeycutt – “God owns everything, we are simply managers or administrators acting on his behalf.  Stewardship is the commitment of one’s self and pos

In this episode, Gary and Christy discuss multi-level marketing and direct sales. Direct selling happens when a product – which is usually not found in a store – is sold by individuals. As salespeople, these individuals work on commission; the more they sell, the more money they earn. If these salespeople can recruit other individuals to sell the product, then those people become part of that salesperson’s team. As those recruited individuals sell the product, they receive a commission AND the salesperson whose team they’re on gets a commission. That’s a rough example of what multi-level marketing looks like.So, how can Christians respond to multi-level marketing (MLM)? If we’re selling with a MLM, are there things we should keep in mind when we’re promoting the products we sell? As prospective consumers, are there things we should keep in mind when we’re approached by a friend or colleague who is involved with a MLM? Listen to this episode to find out.Linkshttps://www.investopedia.com/terms/m/multi-level-mar

The world is pushing for more emphasis on the wedding and less emphasis in the marriage. In this episode, Gary and Christy talk about the ceremony which usually starts a marriage and ask, “Are weddings worth it?” The average cost of a wedding is around $30,000. Engagement rings, dresses, decorations, locations, and so much more are involved in weddings. However, while preparing for the ceremony, do we lose focus on what we’re celebrating: the beginning of a marriage? Is the couple prepared for their life together? Will the wedding put them under a financial strain before their marriage even begins?When considering whether a wedding is “worth it” (i.e. a ceremony that’s aligned with the values and principles God commands us to follow – you know, true spiritual worth):Remember the amount of money spent on the wedding is not a measure of the couple’s love for each other.The wedding day is about commitment – of the couple to Christ and to each other. It’s not a competition to showcase our wealth and try to impres

The amount of money we have is less important than our attitude about the money we have. We won’t get to Heaven because of the contents of our bank accounts, but our entrance into Eternity will be partially determined by how we use our bank accounts. In this episode, Gary & Christy talk about personal net worth, when it is worthless in our spiritual walk, and what to do to help our financial situation have more value in our lives.In James 5:1-6, the Bible talks about “the rich” – those who were focused on being rich and staying rich. They were fraudulent in some of their dealings, they were self-indulgent, and they were unkind. The Bible tells us here that their net worth was worthless, not because they had a high net worth or because had a lot of money, but because of what they did with their material blessings. This same warning could apply to us if we follow in the footsteps of these rich. Our net worth can become worthless when we acquire and build up our material wealth but it costs us eternal riches

Getting into debt is much easier than getting out of debt. Debt isn’t sinful, but it does have an impact on our spiritual, as well as our financial, lives. So, if you’re in financial straits because of debt or if you just want to take a big chunk out of it, Gary & Christy talk about a 4-step process to help you get out of debt.List all your debts. Include principal balances, monthly due dates, interest rates, and maturity dates.Develop a spending plan. Make a list of all your income as well as all your expenses. What flexibility do you have? Can you earn more money or cut expenses in order to have more to pay off your debts?Choose your debt payment strategy. This includes developing a goal (see format below). Two common approaches for tackling debt are the Snowball Method and the Avalanche Method.Commit & Execute. At this point, after everything is laid out and ready to go, there’s nothing to it but to do it. It may be a difficult journey, so set milestones to remind you where you came from and why yo

On today’s episode, Gary and Christy discuss the topic of Financial Favoritism in the church. Showing favoritism means that we provide unfair preferential treatment to one individual at the expense of another individual.  Favoritism is a concept we’ve all seen play out in the world. In addition, the Scriptures tell us of many instances where favoritism occurred, although the Bible often uses the word partiality instead.The Bible also warns Christians against showing partiality, particularly financial favoritism, in James 2. Since the Holy Spirit saw fit to include this warning, it stands to reason it’s something Christians need to be on guard about. We may struggle with this without even realizing it. We can fall prey to showing unfair preferential treatment to those at the expense others, based on how much money they do (or do not) have.Signs we may be showing financial favoritism:We notice and pay attention to those with perceived wealth, and we tend to ignore those who don’t seem to have as much.We create