Tag Archive | "personal finance"

Scriptures on Lending

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Scriptures on Lending

Matthew 5:42
Give to him who asks of you, and do not turn away from him who wants to borrow from you.

Deuteronomy 15:8
But you shall freely open your hand to him, and shall generously lend him sufficient for his need in whatever he lacks.

Psalm 15:5
He does not put out his money at interest, nor does he take a bribe against the innocent. He who does these things will never be shaken.

Luke 6:35
But love your enemies, and do good, and lend, expecting nothing in return; and your reward will be great, and you will be sons of the Most High; for He Himself is kind to ungrateful and evil men.

Proverbs 3:27-28
Do not withhold good from those to whom it is due, when it is in your power to do it. Do not say to your neighbor, “Go, and come back, and tomorrow I will give it,” when you have it with you.

Exodus 22:25
If you lend money to My people, to the poor among you, you are not to act as a creditor to him; you shall not charge him interest.

Leviticus 25:35-37
Now in case a countryman of yours becomes poor and his means with regard to you falter, then you are to sustain him, like a stranger or a sojourner, that he may live with you. Do not take usurious interest from him, but revere your God, that your countryman may live with you. You shall not give him your silver at interest, nor your food for gain.

Psalm 37:26
All day long he is gracious and lends, and his descendants are a blessing.

Deuteronomy 23:19-20
You shall not charge interest to your countrymen: interest on money, food, or anything that may be loaned at interest. You may charge interest to a foreigner, but to your countrymen you shall not charge interest, so that the Lord your God may bless you in all that you undertake in the land which you are about to enter to possess.

Proverbs 28:8
He who increases his wealth by interest and usury gathers it for him who is gracious to the poor.

Deuteronomy 24:10
When you make your neighbor a loan of any sort, you shall not enter his house to take his pledge.

Psalm 37:26
All day long he is gracious and lends, and his descendants are a blessing.

Nehemiah 5: 1-13
Now there was a great outcry of the people and of their wives against their Jewish brothers. For there were those who said, “We, our sons and our daughters are many; therefore let us get grain that we may eat and live.” There were others who said, “We are mortgaging our fields, our vineyards and our houses that we might get grain because of the famine.” Also there were those who said, “We have borrowed money for the king’s tax on our fields and our vineyards. Now our flesh is like the flesh of our brothers, our children like their children. Yet behold, we are forcing our sons and our daughters to be slaves, and some of our daughters are forced into bondage already, and we are helpless because our fields and vineyards belong to others.” Then I was very angry when I had heard their outcry and these words. I consulted with myself and contended with the nobles and the rulers and said to them, You are exacting usury, each from his brother!” Therefore, I held a great assembly against them. I said to them, “We according to our ability have redeemed our Jewish brothers who were sold to the nations; now would you even sell your brothers that they may be sold to us?” Then they were silent and could not find a word to say. Again I said, “The thing which you are doing is not good; should you not walk in the fear of our God because of the reproach of the nations, our enemies? And likewise I, my brothers and my servants are lending them money and grain. Please, let us leave off this usury. Please, give back to them this very day their fields, their vineyards, their olive groves and their houses, also the hundredth part of the money and of the grain, the new wine and the oil that you are exacting from them.” Then they said, “We will give it back and will require nothing from them; we will do exactly as you say.” So I called the priests and took an oath from them that they would do according to this promise. I also shook out the front of my garment and said, “Thus may God shake out every man from his house and from his possessions who does not fulfill this promise; even thus may he be shaken out and emptied.” And all the assembly said, “Amen!” And they praised the LORD. Then the people did according to this promise.

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Scriptures on Investing

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Scriptures on Investing

Proverbs 24:27

Prepare your work outside and make it ready for yourself in the field; afterwards, then, build your house.

Proverbs 28:20

A faithful man will abound with blessings, but he who makes haste to be rich will not go unpunished.

Ecclesiastes 11:2

Give a portion to seven, and also the eight; for thou knowest not what evil shall be upon the earth.

Proverbs 15:22

Without consultation, plans are frustrated, but with many counselors they succeed.

Matthew 25:14-26

“For it is just like a man about to go on a journey, who called his own slaves and entrusted his possessions to them. To one he gave five talents, to another, two, and to another, one, each according to his own ability; and he went on his journey. Immediately the one who had received the five talents went and traded with them, and gained five more talents. In the same manner the one who had received the two talents gained two more. But he who received the one talent went away, and dug a hole in the ground and hid his master’s money. Now after a long time the master of those slaves came and settled accounts with them. The one who had received the five talents came up and brought five more talents, saying, ‘Master, you entrusted five talents to me. See, I have gained five more talents.’ His master said to him, ‘Well done, good and faithful slave You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’ Also the one who had received the two talents came up and said, ‘Master, you entrusted two talents to me. See, I have gained two more talents.’ His master said to him, ‘Well done, good and faithful slave. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’ And the one also who had received the one talent came up and said, ‘Master, I knew you to be a hard man, reaping where you did not sow and gathering where you scattered no seed. And I was afraid, and went away and hid your talent in the ground. See, you have what is yours.’ But his master answered and said to him, ‘You wicked, lazy slave, you knew that I reap where I did not sow and gather where I scattered no seed. ‘Then you ought to have put my money in the bank, and on my arrival I would have received my money back with interest. Therefore take away the talent from him, and give it to the one who has the ten talents.’

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You’ve done goal setting before! Kind of…

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You’ve done goal setting before! Kind of…

Today is the day you decide to pay off your credit card debt. Or maybe you make your mind up that your passion or hobby could prove to be profitable if you formed a business around it. Perhaps you have an interest in leading a healthier lifestyle. Whatever your aspiration, it is important to set a goal and have a plan of action that accompanies it. The bible says in Proverbs 21:5 (NIV) the plans of the diligent lead to profit as surely as haste leads to poverty.

How many times have you heard that “you have to do something differently in order to get something differently”? I’ve heard it too many times to count, but the relevant point here is that goal setting helps us identify what things we need to do differently in order to make our goals a reality.

So if you have to do something differently (i.e. something unfamiliar), how is it that the title of this article is “You’ve done this before! Kind of…”? Consider the following scenarios:

  • Have you moved to a city or town where you knew absolutely no one?
  • Did you ever take a job without knowing or being proficient in all of the tasks required of you?

If you can recollect any such memory then you, my friend, have done what is necessary to set and achieve a goal. If you moved to a new city, you started chatting with your colleagues, or researching what your new locale had to offer and you stepped out and explored. If you took on a new job with responsibilities you were not completely familiar with, you increased your exposure to resources (ex. Colleagues, articles, Google) that made you comfortable with executing these tasks. My point is that you would not have otherwise done these things, but since becoming acclimated to your new environment or keeping that new job was important, you did a few things differently. You went out of your way and in the end, you made it happen.

So what if you don’t know where to start? Don’t fret. Open your mouth and start asking some questions. You’d be surprised at how many people would be willing to help you achieve your goal (and hold you accountable to it). Importantly, these folks can share their experiences of achieving similar goals. Also, do some research; there is no shortage of publications touting ways to eliminate debt, start a business, be healthy, or do whatever it is that you want to do. Sort through these ideas, and be careful not to “analyze until you’re paralyzed.” Achieving your goal ultimately requires action.

As a die-hard fan of Golden Girls, I can’t help but recall a moment when Dorothy says to Rose “If you take a chance in life, sometimes good things happen, and sometimes bad things happen. But if you don’t take a chance, nothing happens.” Take a chance at succeeding. Set a goal, be realistic about how you will achieve it, and act!

As Christians we walk be faith and not be sight, so at times we’ll have to take that chance in trust in the lord. Peter in the disciples were on the boat crossing the Sea of Galilee and saw Jesus approaching them walking on water. Though they were afraid, Jesus told them to be of good cheer, but Peter wasn’t happy of just that. He took a chance and told Jesus if it is you let me come to you via the ocean. Jesus, but as always our faith falters just as Peter’s did because he took his eyes off of Jesus but as soon as he cried out to Him, He saves us from our troubles. Just keep that in mind when you take that chance in life, keep your eyes on Him and he’ll lead you to victory.

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Two cents regarding your personal budget

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Two cents regarding your personal budget

  • BREATHE. Rest assured that you can beat your budget! So many people let their money woes get the best of them, and it negatively affects their decision making. Yet, there are people who remain optimistic (and realistic) and stick to their goals of paying off debt/cutting expenses/increasing income and succeed! You can be that person, too. Just be very clear about what your goals are, remind yourself of these goals every single day, and work towards achieving those goals every single day. It’s no walk in the park, but we have to do something differently to get something differently, and if you’re committed to improving your financial situation, then you will make the difficult decisions necessary to achieving such.

What are your main money concerns?

  1. Is it debt?

i. Who do you owe and how much to each?
ii. What types of debts do you have? (Ex. installment, revolving, medical, utility, other)?
iii. Which debts are most important (ex: most expensive/highest finance charges, closest to your limit (if a revolving debt), due date)
iv. What are the minimum payments for each debt?

  1. Is it unexpected expenses?

i. What types of expenses are these? (ex: car repairs, medical, job related)
ii. How often have these “unexpected” expenses occurred in the past three, six, and nine months? Perhaps it’s time to look at factoring this expense into your budget or making an investment to eliminate maintenance costs (ex: newer car, surgery to keep away from patchwork fixes, etc.)

  • Two ways to “find” this additional money is to increase your income (ex: overtime, part-time job, bartering, yard sale/consignment shop etc.) and cutting back on your expenses (ex: eliminate cable or cut back to basic, don’t pay for what you don’t use, use coupons, shop on sale only, etc.)
  • Track your expenses for at least a month (i.e. write down where every single penny goes). This will give you a bird’s eye view of where your money is going and you’ll be better equipped to make decisions on cutting expenses. For example, if you notice you spend $400 a month on eating out & groceries, you can make decisions to cut back by shopping at food closets, Farmer’s Market, coupons, sale only items, etc. The savings that you reap should go towards your financial goals. Categorizing your expenses is also very helpful (ex: transportation = gas, oil changes, auto insurance, car washes; food= groceries, eating out; bills= rent/mortgage, utilities, phone, cable/Internet; savings= emergency fund, vacation money; etc.)
  • SAVE. SAVE. SAVE. Your money is cheaper than anyone else’s. In case of emergency, or you spot something that you want but isn’t accounted for in your monthly budget, having a little money on the side will allow you to weather the unexpected and/or purchase what you want. Financial planners recommend that we have at least three to six months of our living expenses set aside. A more realistic and immediate goal, however, may be several hundred dollars. To ensure your success with saving, automate it (payroll deposit or automatic transfers after you get paid; you can’t spend what you don’t see).
  • If you consider increasing your income, think about the additional costs of doing so. For example, if you work overtime or get a part-time job, and it requires you to drive a lot (gas/tolls) or increase your child care expenses, would the income you generate exceed the expenses of earning that income? If not, think about other alternatives; if so, go get that money!
  • Stop using credit. If that means cutting up or placing your credit cards in the freezer, do it. The progress you would make paying down your debt would be defeated by the additional purchases you make. So please, stop using credit.
  • Start today: procrastination is a dream killer. Even if you start saving five bucks a week, it’s something! 1 Corinthians 16:2 (NIV) says on the first day of every week, each one of you should set aside a sum of money in keeping with his income, saving it up, so that when I come no collections will have to be made.

A little something extra…

I absolutely LOVE www.bankrate.com. They offer great insight on debt management, budgeting, saving, and so on. Check it out!

You might also want to pull your credit report and see if all of the information being reported about you is accurate. Misinformation on reports affects tons of people’s ability to get credit and maintain good credit scores. Visit www.annualcreditreport.com to get a free copy from all three of the credit reporting bureaus.

Lastly, Proverbs 27:12 (NIV) The prudent see dangers and take refuge, but the simple keep going and suffer for it. Simply stating that those who are committed to a budget refusing to take on unnecessary debt are wise, but those who go out and buy, buy, buy knowing that can’t afford are setting themselves up for major financial and emotional suffering.

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