This is a guest post from the Editor of VoucherCodes.co.uk, a site offering voucher codes and printable vouchers to help you save more money.

       In the current climate it is hard for many to get by. All of our budgets seem to have been slashed, and what’s left over for the end of the month for luxuries has all but disappeared. Giving to charity each month can therefore seem a bit of a hardship, but it is ironically at this time that it is needed so much. The recent earthquake in Haiti has provided an all too clear signal of the need for charitable donations. With a few personal finance tips, you can put aside a large part of your monthly budget therefore freeing up more resources for charity.

Budget!

       The first thing to do is to know exactly where you stand. As has already been pointed out on Provident Planning, a site such as Mint offers free financial software that can show you exactly where your money is going each month. This can be an excellent tool, but it can be difficult to work with this as a household tool. In a dual income household, communication is especially important. The whole family will have to sit down together in order to work out their expenditure and to plan for the months ahead. If you have children this can be a great chance to educate them on how to manage money and to set a great example.

Save on Groceries

       To help with the family planning further you can log on to Netmums, a UK community of mothers and download their weekly meal planner – this is just as applicable for a US family. Any shopping trip can then be more focused around what is essential. Supermarkets are designed to bombard you with information encourage you to make impulse purchases. They have become very sophisticated in their marketing (ever noticed how the premium brands are at eye level?). If at all possible, it can be better to leave the kids at home when shopping – they are usually much more persuadable to making unnecessary purchases and are no doubt very adept at persuading you as well!

Cut Back on Your Energy Bills

       It is also essential to cut the amount of energy you are using in your home. With just a few tricks you can save lots of money. Head over to the Energy Savings Trust website and take their free home energy check to ensure you are not frittering away your hard earned cash in wasted energy each month.

Use Coupons

       Coupons have also become an online phenomenon in 2009 – and if you’re not using them in 2010 you will really be missing out. Ever been prompted when buying online to enter a voucher code (or promo code or something along these lines)? Well a simple Google search for “Coupons” will provide a huge collection of coupon sites where you can find the correct text to enter to get the relevant discount. These can usually knock $20 off the weekly shop. [Paul's note: I like RetailMeNot for this. I've saved a lot with that site.]

Don’t Waste Money When You’re on Vacation

       In the end we all deserve to have to have a break from counting the pennies, but this does not mean we want to be ripped off when going on holiday. If we easily reduce the amount we fritter away, it means we can spare a little more from the holiday fund. A little local knowledge can be found in the online Time Out guides – they provide comprehensive schedules of the events coming up in most of the major world cities. Booking in advance you can usually make huge savings and avoid inflated “at the door” prices. You can also find great advice on non-touristy restaurants to save further. These combined can cut your travel budget by almost half painlessly.

       I hope these tips show that with a small bit of thinking we can be more charitable each month without breaking the bank!

This has been a guest post from the Editor of VoucherCodes.co.uk. Be sure to check out their site if you live in or will be visiting the UK. I’m sure you’ll find some ways to save money!

       A fiduciary is a person in a position of trust who obligates himself to always act in the best interests of those who trust him. For example, the trustee of a trust is considered a fiduciary and must always act in the best interests of the trust’s beneficiaries. Fiduciaries are legally required to act in the best interests of those they’re serving, and they can never put their own interests first.

Why Does It Matter?

       So why should you care what (or who) a fiduciary is? In the financial world, there are two types of advisors:

1. Those who are fiduciaries.

 

2. Those who are not.

       If you understand what a fiduciary is, you’ll see that advisors who are fiduciaries are required to do what’s best for you. Advisors who are not fiduciaries are not held to such a standard. It’s perfectly legal for them to put their own interests first – to act in a way that might not provide the best benefits to you. Obviously, you want to use a fiduciary advisor whenever possible because of their legal responsibility to you.

       There are very clear guidelines on who is considered a fiduciary in the financial world and who is not. The following people are NOT considered fiduciaries:

• Stock Brokers
• Insurance Agents
• Real Estate Agents acting on the other party’s behalf (This is common when you are buying, as most real estate agents are acting on behalf of the seller.)

       ”Advisors” in this group do not represent you. They represent themselves, their company, or someone else. They have no legal responsibility to act in your best interest. They are simply not permitted to commit fraud or provide you with “unsuitable” recommendations. But the “unsuitable” standard is very broad and difficult to impose.

       On the other hand, people in these groups are considered fiduciaries:

• Registered Investment Advisers (RIAs) or Investment Adviser Representatives (IARs)
• Insurance Brokers
• Real Estate Agents acting on your behalf
• CPAs
• Attorneys

       Advisors in this group are legally required to act and advise you only for your benefit and interests. They can never act in a way that is contrary to what is best for you. They must act with undivided loyalty to you. If they fail to do so, you are entitled to legal action against them. It’s not enough for them to just provide “suitable” recommendations. They must try their hardest to provide you with the best advice possible.

       Let’s use a simple example. If you go to a stock broker, the broker can recommend you invest in Fund A (as long as it’s “suitable”) even though Fund B is better for you. Why would he do this? Probably because Fund A will give him a higher commission.

       Now let’s say you go to a Registered Investment Adviser (or an Investment Advisor Representative – someone who works for an RIA). Because RIAs have a fiduciary duty to their clients, they’ll always be required to recommend you invest in Fund B since it’s your best option. RIAs can’t receive commissions or do anything that’s not in their client’s best interests. So who do you want to get your advice from? The stock broker or the RIA?

       It’s quite clear that fiduciaries are held to a much higher standard than non-fiduciaries. Whenever possible, you should seek to obtain advice from people who are held to a fiduciary standard. Ask your advisors if they are fiduciaries. Ask them if they are required to always act in your best interests. They are required to answer truthfully, and you should be wary of those who cannot answer with a confident and resounding “yes”.

       Have you ever heard of the term “fiduciary” before? Is there any aspect of the fiduciary duty/standard you’re not clear on? Let me know in the comments, and I’ll do my best to answer your questions!

       Listen to advice and accept instruction, that you may gain wisdom in the future.

Proverbs 19:20 (ESV)

       Sound, prudent advice is a valuable tool for those who want to become wise. This admonition in Proverbs counsels us to listen to advice so we can gain wisdom. It’s a good idea to seek the advice of those with knowledge and wisdom. If we fully hear and accept their words, we can learn from them and prepare ourselves for the future.

       But we must be careful to weigh the advice we receive rather than believing everything. The idea behind this verse is not to necessarily do everything people tell you that you should. Rather, we should hear them and try to learn from their advice. Is it good or bad advice? Why? We’ll only gain wisdom when we examine the quality of that advice and how it applies.

       It’s interesting that this verse says you’ll gain wisdom in the future. The things we learn right now may not be of much help currently, but they may help us have a better understanding in the future. I’ve found this to be true in my life. I enjoy learning about a wide variety of topics – many of which are quite useless to me right now. But what I’ve found is that having a broad knowledge helps me understand the issues I’m dealing with now. I can apply concepts from one field to comprehend ideas in another. So it’s prudent for us to listen to good advice and be learning even when we don’t think it is useful now. A love of learning is a great tool for gaining wisdom.

       I pray that my writing on Provident Planning will help you gain wisdom for your personal finances. But please examine what I say, thoughtfully consider it, and see how it may or may not apply to your own situation. Ask questions. Disagree. Share your advice. In this way, we can all gain wisdom for the future.

       Before our trip to Haiti, my wife, Michelle, and I were shopping at Goodwill to buy some work clothes we could use and leave there. But while we were there, Michelle found a great bargain in the shoe section.

       She found a pair of Nike Air Zoom Elite Women’s running shoes for $6.97. Here are a couple pictures:

       These shoes are in great condition, very clean, and look like they’ve barely been used at all. The amazing thing is these shoes retail for $65.00 new at shoedeals4u.com. That’s a savings of $58.03! Granted, they’re not worth the brand new price since they’re used, but they’re definitely worth more than $6.97.

       These shoes wouldn’t be a great deal if Michelle didn’t actually need them and wouldn’t actually use them. But she does and will. I think this example can teach us two things:

1. You need to keep your eyes open to spot deals.

 

2. You shouldn’t ignore thrift stores because of stigmas or misconceptions.

       And believe me, there are more bargains to be found in thrift stores than just the shoes. I saw a suit from Nordstrom, jeans from Gap and Calvin Klein, shirts from Tommy Hilfiger, and nice leather jackets – all in great condition. I’m not saying you should focus on name brands only, but it just goes to show you that you can find quality items at low prices in thrift stores.

Your Best Thrift Store Bargains

       What’s your best thrift store bargain? Let me know in the comments!

       If you spend much time reading personal finance advice for Christians (either on Provident Planning or somewhere else), you’ll probably start to realize that it’s not all that different from other personal finance advice. Most of the good advice for Christians applies equally to non-Christians as well. Stick to a budget, spend less than you earn, avoid excessive debt, keep an emergency fund, minimize your taxes, don’t buy insurance you don’t need, save for the future – none of those things are particularly Christian in nature.

       There may be some points in which Christian personal finance and secular personal finance will differ, but, generally speaking, good personal finance advice is the same regardless of your religion. The difference – and this is a major difference – is in the ultimate purpose, the final goal, of following that good advice.

       As far as the world is concerned, it makes sense to make smart personal finance decisions because that’s what is best for you. Good money management will help you meet your goals, maximize your wealth, and get the most out of the money you’ve earned. And according to the world, that’s what you should do with your money. Use it for the things you want. Use it to meet your goals and fulfill your dreams.

       But for Christians, making smart decisions in our finances is not important just so we can maximize our wealth and meet all our desires. Our purpose is not to find fulfillment in this world and the things it offers. Our purpose is to honor and glorify God – to serve Him with our entire being in everything we do. Our goal is to do His will. And part of God’s will for us is to share His love by caring for those in need through generous giving. We don’t try to maximize our wealth for our own use. We try to maximize our wealth for God’s use.

       I want you to remember this as you read the articles I write. Many times there won’t be a Bible verse in a post. Personal finance in the Bible is more about the principles that should govern our decisions – not specific applications (like how to get out of debt). But it’s very important that we remember the purpose of seeking and following good financial advice.

       When I talk about spending less, it’s so we’ll have more to give. When I talk about earning more money, it’s so we’ll have more to give. When I talk about making smart financial choices, it’s so we’ll have more to give. It all comes back to giving – giving motivated by love that flows out of our response to God’s Gift to us.

       Yes, making good financial decisions will have benefits for you personally. But our focus as Christians is on the benefits those decisions will have for the Kingdom. In our efforts to follow good financial advice, let’s keep our eyes focused on Christ and our minds focused on how we can serve Him fully.

       The advice we follow may not be all that different from non-Christians. But the motivation, goals, and results should be very, very different. And that difference will serve as a witness for the power of God’s love working in our lives.

       What do you think makes Christian personal finance different? Let me know in the comments!

       I’ve written in the past about the problems with the “prosperity gospel”. But something I haven’t done is discuss God’s purpose for Christian prosperity. God does want to bless us, but it’s not so we can waste that wealth on lavishly pampering ourselves. He has a specific purpose for prospering Christians and we can find that purpose in His Word.

God Prospers Us To Meet Our Needs

       God blesses us to meet our physical needs. Christ promised us that God knows what we need and He is happy to provide it, but we should seek His Kingdom first instead of worrying ourselves to death about those needs.

       ³¹ “Therefore don’t be anxious, saying, ‘What will we eat?’, ‘What will we drink?’ or, ‘With what will we be clothed?’ ³² For the Gentiles seek after all these things; for your heavenly Father knows that you need all these things. ³³ But seek first God’s Kingdom, and his righteousness; and all these things will be given to you as well.”

Matthew 6:31-33 (WEB)

       We should have faith that God will provide for our needs as we seek His kingdom. This is something I struggle with myself, for Jesus’ words here are difficult to follow despite the freedom they offer. Our weak flesh leads us to worry even though Jesus has promised that God will meet our needs. We must remember that God desires and has the power to meet our needs. He has given us eternal life in Christ, and He will not withhold what we need when we seek Him.

       My God will supply every need of yours according to his riches in glory in Christ Jesus.

Philippians 4:19 (WEB)

God Prospers Us So We Can Give Generously

       God also blesses us to meet our spiritual needs and the physical and spiritual needs of others. We see another purpose for prosperity clearly illustrated in the Bible – namely the purpose of generous giving.

       In 2 Corinthians 9, Paul is asking the Corinthian church to complete their desire to give to the poor Christians in Jerusalem who were suffering from a famine. He provides wonderful counsel for the Christians in Corinth about God’s ability to bless them so they can be a blessing:

       ⁷ Let each man give according as he has determined in his heart; not grudgingly, or under compulsion; for God loves a cheerful giver. ⁸ And God is able to make all grace abound to you, that you, always having all sufficiency in everything, may abound to every good work. ⁹ As it is written, “He has scattered abroad, he has given to the poor. His righteousness remains forever.”

       ¹⁰ Now may he who supplies seed to the sower and bread for food, supply and multiply your seed for sowing, and increase the fruits of your righteousness; ¹¹ you being enriched in everything to all liberality, which works through us thanksgiving to God. ¹² For this service of giving that you perform not only makes up for lack among the saints, but abounds also through many givings of thanks to God; ¹³ seeing that through the proof given by this service, they glorify God for the obedience of your confession to the Good News of Christ, and for the liberality of your contribution to them and to all; ¹⁴ while they themselves also, with supplication on your behalf, yearn for you by reason of the exceeding grace of God in you. ¹⁵ Now thanks be to God for his unspeakable gift!

2 Corinthians 9:7-15 (WEB)

       Paul explains to the Corinthians that God is able to meet all our needs so that we may focus on being generous and doing good things in His name. God prospers us so that we will have the opportunity to give generously. It is up to us to use that opportunity to honor Him instead of following the Worldly path of honoring ourselves.

       Even though the “prosperity gospel” is false, there are small nuggets of truth in it that get warped into something ungodly. God desires to bless us so He can meet our needs – both physical and spiritual. But wealthy Christians are called not to merely go through life enjoying the wealth God has blessed them with but to use that wealth to honor God and help others.

       When God makes Christians rich, it isn’t for our own benefit only – it’s so we can glorify His name by being obedient to our confession of the Good News of Jesus Christ. Our response to that Good News should be unending thankfulness and amazing generosity. Thanks be to God for His indescribable gift!

       If you want to hear how the Bible can make you a millionaire, you’re in the wrong place. If you want to hear that you can give 10% and you’ve done your duty to God, you’re in the wrong place. If you want to hear how easy life is going to be as a Christian, you should go do another Google search because you’re not going to find that here.

       Provident Planning is not a place for people with itching ears.

       But if you want to hear the Gospel of Jesus Christ, you’ve come to the right place. If you want to know what the Bible – not man – teaches about money, you’ve come to the right place. If you desire to be a lover of God rather than a lover of money, then I invite you to join me as I seek God’s Truth for personal finances.

       ³ For the time will come when they will not listen to the sound doctrine, but, having itching ears, will heap up for themselves teachers after their own lusts; ⁴ and will turn away their ears from the truth, and turn aside to fables.

2 Timothy 4:3-4 (WEB)

       A lot of the most popular teaching about personal finance for Christians emphasizes how Biblical financial principles can make you rich. This naturally appeals to many people because the love of money is so prevalent in our society. Those who teach how the Bible can make you rich while putting little emphasis on God’s true purpose for those riches are doing nothing but scratching the itching ears.

       God’s Word is not a guide on how to get rich and enjoy all the fine things of the World. God doesn’t want rich Christians to splurge on luxuries while their brothers and sisters die from hunger and thirst. The Gospel is not about how you can prosper in this life. Jesus didn’t die on the cross so you can retire early.

       Jesus warned us of the dangers of greed. He taught us to give generously to anyone in need. He taught us to seek God’s Kingdom first – to make it our top priority in life. All of God’s Word testifies to the fact that our best life will be an eternal life in Heaven – not here on Earth. He has warned us that this life will be full of trials, tribulations, hard times, and difficulties. But He has promised us the most wonderful blessing – eternal life with Him for anyone who believes in His Son, Jesus Christ.

       ³ If anyone teaches a different doctrine, and doesn’t consent to sound words, the words of our Lord Jesus Christ, and to the doctrine which is according to godliness, ⁴ he is conceited, knowing nothing, but obsessed with arguments, disputes, and word battles, from which come envy, strife, insulting, evil suspicions, ⁵ constant friction of people of corrupt minds and destitute of the truth, who suppose that godliness is a means of gain. Withdraw yourself from such.

1 Timothy 6:3-5 (WEB)

       Many false teachers talk about how God will bless you if you’re a Christian. Or they tell you to send them a love gift or plant a seed and God will pour out miraculous financial blessings for you. These people do not teach the whole Word of God! We are to have nothing to do with those who twist the Scriptures for their own financial gain or teach a gospel different from the one Jesus taught.

       As Christians, we are rich – but you can’t measure our wealth in dollars. We have eternal life with God as our promised reward for faith in Jesus. That reward outweighs anything you can imagine for yourself in this life – and that reward is why contentment and giving should be our primary concerns when it comes to money. Reflect on these words from the Bible:

       ⁶ But godliness with contentment is great gain. ⁷ For we brought nothing into the world, and we certainly can’t carry anything out. ⁸ But having food and clothing, we will be content with that.

       ⁹ But those who are determined to be rich fall into a temptation and a snare and many foolish and harmful lusts, such as drown men in ruin and destruction. ¹⁰ For the love of money is a root of all kinds of evil. Some have been led astray from the faith in their greed, and have pierced themselves through with many sorrows.

       ¹¹ But you, man of God, flee these things, and follow after righteousness, godliness, faith, love, patience, and gentleness. ¹² Fight the good fight of faith. Lay hold of the eternal life to which you were called, and you confessed the good confession in the sight of many witnesses. ¹³ I command you before God, who gives life to all things, and before Christ Jesus, who before Pontius Pilate testified the good confession, ¹⁴ that you keep the commandment without spot, blameless, until the appearing of our Lord Jesus Christ; ¹⁵ which in its own times he will show, who is the blessed and only Ruler, the King of kings, and Lord of lords; ¹⁶ who alone has immortality, dwelling in unapproachable light; whom no man has seen, nor can see: to whom be honor and eternal power. Amen.

       ¹⁷ Charge those who are rich in this present world that they not be haughty, nor have their hope set on the uncertainty of riches, but on the living God, who richly provides us with everything to enjoy; ¹⁸ that they do good, that they be rich in good works, that they be ready to distribute, willing to communicate; ¹⁹ laying up in store for themselves a good foundation against the time to come, that they may lay hold of eternal life.

1 Timothy 6:6-19 (WEB)

       So if you want to learn what God says about money and what the Bible teaches about personal finance, then please sign up for free updates to Provident Planning. And if you ever find me teaching anything contrary to the Scripture or the Gospel of Jesus Christ, please contact me and let me know.

       But if you just want someone to tell you the things you want to hear, you’ll have to go somewhere else to get your ears scratched.