The
Keys to Success
“Can you help us fix this problem?”
“What
financial strategy / product / tool will help us achieve our
goals?”
These are
the two questions we hear the most from people interested in
our services. They are certainly good questions to ask
but often there is a presupposition that the right answer will
solve the problem or guarantee success. Unfortunately,
there is no simple or “overnight” solution to these
questions and usually the prescription entails more discipline
of habit than the quick use of a certain process or product.
In over 20
years of providing objective financial counsel we have found
that five key principles summarize what the
Bible says about successful money management:
- God owns it all
- Establish long term written goals
- Avoid the use of debt
- Spend less than you earn
- Avoid a consumptive lifestyle
We don’t
believe these principles should replace your personal study
of all the Bible has to say about money, but as we have observed
the lives of clients the application of these principles has
led to their financial success. In
this context success is defined as one achieving their goals,
regardless of their level of personal wealth.
For the right solution and the best strategy for your money
management issues consider how these principles might be applied
to your situation.
Planning Tips
Budget
Guide – If
your income is below $130,000, click
here if you are looking
for guidelines to help determine how much you should allocate
to each budget category. You will need to type in your income,
annual charitable gifting and estimated taxes (look at your
previous year’s tax return
for help).
Considering
Rental Real Estate? – This
article looks at some of the key caveats to consider before
making this leap.
Relevant
Articles/Information
Financial
Harmony = Beautiful Music - A
testimony about applying God’s financial principles from the life
of Ronald Blue & Co. advisor Stanton Lanier.
Does God own it all? – A
look at how various denominations approach giving and the resulting
statistics.
In
the News
Gas
Prices – Politics
and Iraq aside, the price of gasoline is certainly one
of the most talked about issues today. How do we
recover from the shock of potentially paying more than
$2.00 for a gallon of gas? First, we should
develop the proper perspective. Unknown to most people
is that if gasoline prices were adjusted using the average inflation
rate since 1981, we should be paying close to $3.00 a gallon.
(Article
on usatoday.com: Higher
and higher — again: Gasoline prices set record)
Second, as
the price of anything increases, it’s always
good to consider how to reduce consumption or find alternatives.
(Article
on fueleconomy.gov: Gas
Mileage Tips)
Third, we
live in a price driven economy (see book recommendations) which
means that when prices increase for a good or service, alternatives
(products, methods, choices) soon become more available. Imagine
if your waste collector started to charge by the pound. Not
only would most of us change our waste habits but the packaging
found on our grocery store shelves would likely look a lot different
than they do today.
