Archive - Work RSS Feed

Personal Finance in the Bible: 1 Kings 11:28

February 2, 2010 in Personal Finance Bible Verses, Work with 4 Comments

       The man Jeroboam was a mighty man of valor; and Solomon saw the young man that he was industrious, and he put him in charge of all the labor of the house of Joseph.

1 Kings 11:28 (WEB)



       Jeroboam was put in charge of all the labor of the house of Joseph because he was industrious. He was a hard-working, diligent man who did his job well. He took pleasure in his work, and this was so evident to Solomon that he promoted Jeroboam to a position of power.

       Jeroboam is a good example of the value of hard work. When we’re steadfast and skilled in our work, we will find more opportunities are available to us. Options open up to us because of our hard work and because others recognize our abilities and determination. Those who do their job well will be rewarded for it in time – if not here, then eternally.

       It’s important for us to realize that when we work, we’re not working for men. We’re working for the glory of God. We should work as if Jesus is our boss. We should do what would please Him. In this way, we’ll bring honor to God’s name and lay a foundation for our future.

       In reading the story of Jeroboam, it’s clear that his hard work laid the foundation for his future as well. Solomon recognized him, and God recognized him as well. If you read through chapters 11 and 12, you’ll see that he was given ten of the tribes of Israel. While it seems that Jeroboam did not continue in the ways of the Lord, he at least began by following God’s call to hard work. And it was that hard work that was rewarded.

       How has your hard work been rewarded? How have you kept your focus on eternal rewards when your hard work has not been rewarded? Let me know in the comments!

Not for Itching Ears

December 31, 2009 in Contentment, Frugality, Giving, Investing, Miscellaneous, Personal Finance Bible Study, Personal Finance Bible Verses, Prosperity, Retirement, Saving, Stewardship, Work with 4 Comments

       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.

A Penny Saved Is Nearly Two Pennies Earned

November 19, 2009 in Budgeting, Frugality, Taxes, Work with 4 Comments

       Benjamin Franklin is quoted as saying “a penny saved is a penny earned”. And others have discovered that a penny saved is more than a penny earned. But did you know a penny saved can be worth nearly two pennies earned? Before you dismiss money-saving activities as “not worth your time”, you need to consider just how much of your earnings goes to taxes.

If You’re Not Self-Employed…

       If you’re not self-employed, you’ll pay your marginal federal income tax rate, 7.65% for FICA, plus any applicable state or local income taxes on any money you earn. Add all of these up and you’ll get a total tax rate anywhere from 17.65% up to 51.65%. You may also have to pay sales tax on the things you buy (as opposed to making or doing them yourself).

       The chart below shows just how much a dollar you earn is worth after taxes depending on your marginal federal tax rate, FICA, and state and local income and sales taxes. I only went up to the 25% tax bracket on the federal side, and I used the national average rates for the state and local income and sales taxes.


Not Self-Employed Tax Rates


       Most people will probably fall in the 15% federal tax bracket. If you’ve got state & local income taxes and sales taxes and you’re in the 15% federal bracket, then every dollar you can save is equal to $1.49 if you had earned it. You lose $0.29 to taxes from every dollar you earn, and then you’ll pay another 6% sales tax (on average) when you spend the money. In this case, a penny saved is worth 1.5 pennies earned.

If You’re Self-Employed…

       Entrepreneurs have the extra burden of the self-employment tax to pay on their earned dollars. However they do get to take a tax deduction for one-half of the self-employment (SE) taxes, so their SE tax rate works out to 14.13%. So a self-employed person could automatically lose anywhere from 24.13% to 58.13% in federal, SE, state, and local income taxes for every dollar they earn. And they’ll still have to pay any applicable sales tax on top of that. The high-earning self-employed people can easily say “a penny saved is two pennies earned”.

       I put together a chart for self-employed people similar to the one above. The only difference is the substitution of the SE tax for the FICA tax.


Self Employed Tax Rates


       As you can see, a dollar saved is almost worth two dollars earned for someone in the 25% federal bracket who has to pay state and local income and sales taxes. They’ll lose $0.45 to taxes on every dollar they earn, and then they’ll pay another 6% sales tax when they spend the money that’s left over.

Why This Matters

       Realizing how much you pay in taxes is key in figuring out if it’s worth it to do something yourself or pay someone else to do it for you. You’ve got to know your after-tax hourly rate to be able to compare it to how much you’d save by doing it yourself.

       For instance, let’s go back to the first chart for people who aren’t self-employed. If your federal tax rate is 15% and you have state and local income taxes of 6%, you’re going to lose almost $0.30 to taxes (including FICA) for every dollar you earn. That means if you’re getting paid $20/hour you’re only taking home $14/hour after taxes for each extra hour you work.

       Now let’s say you can pay $25 to have your oil changed, or you can do it yourself for $13 (a savings of $12) plus your time. If it takes you 15 minutes, your hourly rate for doing it yourself is $48/hour. If it takes you 30 minutes, you’re saving $24/hour. And even if it takes you 45 minutes, you’ll still save the equivalent of $16/hour. Now compare that to your after-tax hourly rate from your job ($14/hour), and you can easily see that it makes sense (by the numbers) to change your oil yourself.

       You can apply this logic to any number of money-saving activities to see if it makes sense to do it yourself. In the case above, anything that saves you at least $0.23/minute you spend doing it is worth your time. So taking 10 minutes to make an extra stop at a different grocery store can be a smart financial choice if you’re going to save at least $2.30.

       Understanding that saving money can be more effective than earning it will also help you realize the importance of being frugal. I’m not saying that being frugal is better than earning more money, but it’s a powerful tool and you’d be foolish to refuse using it. Combining frugality with earning more will help you get out of debt, save more, or give more.

How Much Is a Dollar Saved Worth to You?

       Because this greatly depends on your tax rates, I’ve created a little calculator below that you can use to figure out how much a dollar saved is worth to you. Try it out and let me know your results in the comments!

*Note: Click the ‘Click to Edit’ button to use the calculator with your own numbers.


Show Me in the Scriptures…

October 27, 2009 in Budgeting, Contentment, Debt, Estate Planning, Frugality, Giving, Insurance, Investing, Miscellaneous, Personal Finance Bible Study, Personal Finance Bible Verses, Prosperity, Retirement, Saving, Stewardship, Taxes, Work with 0 Comments

       A reader recently left a comment on my post discussing how much you should have in your emergency fund. Frank said:

Could you please show me in Scripture where it says believers are to have an emergency fund?

Thank you.



       I responded to Frank’s question in the comments, but I think this is an important enough issue to address in its own post.

       Not all personal finance advice can be backed up with a specific quote from Scripture. Does that mean it is bad or unchristian? Not in the least. If the advice follows the pattern of teaching and wisdom in the Bible, it can still be considered good advice for Christians despite the lack of a specific Biblical reference.

       For example, is there a specific Bible verse telling you that you should create a will? No. But it’s still a wise thing to do. Is there a specific Bible verse that tells us to update our résumés? Again, the answer is no, but that doesn’t change the validity of the advice.

       This concept doesn’t apply just to personal finance. Is there a Bible verse telling us to buckle our seat belts? Nope. But does that mean you’re trusting your seat belt more than God if you buckle it? What about looking both ways before you cross the street? Do you lack faith because you do this?

       The problem with applying the “show me in the Scriptures” test is that there is not specific advice for every single situation we will encounter in life. There are guiding principles and values that, along with God’s Holy Spirit, will help us discern the wise choices. But you’re not going to find Bible verses telling you to brush your teeth, stop eating at McDonald’s, or to take advantage of an HSA if you’re eligible.

       Scripture does contain many verses teaching us the importance of wisdom in handling our affairs. Here are a couple examples:

       The simple believes everything, but the prudent gives thought to his steps.

Proverbs 14:15 (WEB)

       The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.

Proverbs 21:5 (WEB)

       Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.

Proverbs 21:20 (WEB)

       The prudent sees danger and hides himself, but the simple go on and suffer for it.

Proverbs 22:3 (WEB)



       In fact, the entire book of Proverbs points to the importance of wisdom and its place in the life of those who follow God. But what about all the times Jesus told us not to store up treasures on earth? Or when He taught us not to worry about what we’ll eat and drink and wear?

       Tell me, what did Christ mean when He said do not worry or be anxious? What does it mean to worry or be anxious? Those words mean to be distressed, uneasy, and tormented with care about something (material things in this case). Christ’s solution was for us to “seek first the Kingdom of God”. Instead of being worried about how we’ll meet our material needs, we should be worried about how we’ll meet our spiritual needs – how will we serve God and draw closer to Him.

       You can be worried and anxious about material things whether or not you wisely plan ahead. I can have an emergency fund and still be worried about material things. I can not have one and still be worried about material things. Even if I have an emergency fund, I can stop worrying either because I have that money saved or because I trust in God’s provision. That brings us to the other main teaching of Christ about money.

       When Jesus taught about storing up treasures and serving Money what did He mean? What does it mean to be wealthy or rich or to have treasure? All those words denote an abundance, which means having much more than what is sufficient or needed. Jesus’ warnings about wealth were not to tell us that we should never use money appropriately to meet our needs. Jesus warned us instead of the danger in accumulating more than what we really need. He told us not to become consumed with money and wealth.

       There is a vast difference between being consumed with accumulating an abundance of wealth and planning wisely to have enough to meet our needs. In the same way, there is a huge difference between being occupied with worry and prudently foreseeing needs and dangers and preparing to face those situations. These two teachings that Jesus gave us are so often stretched to mean that we should never save anything at all for the future because that demonstrates a lack of faith. The truth is that Jesus taught us to:

  1. Give God and His Ways priority in our thoughts and lives.

    2.        

  2. Avoid storing up more money than we will need. (That is, not to let becoming rich be our priority in life.)



       Proverbs commends wisdom and many New Testament verses speak to the importance of providing for your own family. We are not taught to make ourselves a burden to others when it is within our power to care for ourselves. Instead, we are taught that if there are any among us who cannot provide for themselves it is our responsibility as fellow Christians to care and provide for those people. Jesus’ teachings combined with the rest of Scripture in no way preclude us from saving for the future, using insurance, or utilizing money in any other wise manner. What is forbidden is making Money our god – giving priority to accumulating more money than we really need instead of serving God.

       The real issue then becomes finding contentment in Christ and determining our true needs. The danger we face is allowing the world to dictate our needs and success (a bigger house, a fancy car, expensive clothes, etc.) instead of learning to live on enough (our daily bread). That is the bigger issue here and the battle all of us Christians face. Once we have submitted to God in our discontentment and covetousness, we will be able to make Money serve us and God’s Kingdom instead of allowing it to be our master. But these are all topics worthy of their own discussion (contentment, defining needs, and avoiding covetousness).

       Please share your thoughts on this topic in the comments. I’m looking forward to hearing from all of you!

Do It Yourself: Why Your Time Is Not Worth As Much As You Think

October 19, 2009 in Frugality, Work with 6 Comments

       J.D. Roth at Get Rich Slowly has some good articles on how to figure out your real hourly wage. The first one titled “How to Compute Your REAL Hourly Wage” is a good start to calculating this number, but it leaves out taxes. The second article titled “Beyond “Real Hourly Wage”: How Much Time Does Stuff Actually Cost?” gets closer to a more accurate number, but I personally think you should do it a little differently.

We Still Work by furryscaly on Flickr       J.D. talks about deducting your fixed expenses to calculate your real hourly wage to figure out how many hours things cost in terms of your disposable income. I think this is a good number to keep in mind, but you should also consider your hourly wage in terms of net income as well (income minus work related expenses and taxes). This net income hourly wage can help you see how much of your time is spent paying for your necessities and put those costs in perspective. This is mostly just an interesting experiment, but it can help you realize that your time is worth something and spending money means giving up your time.

       However, what I really want to talk about is the discussion that came up following J.D.’s article about Things It’s Cheaper to Do Yourself. Some commenters contend that if a task would cost less per hour to outsource than you can earn in an hour then you’re better off paying someone else to do it for you. However, this logic is often flawed once you consider reality. This is a topic that’s been on my mind for a while, but J.D.’s article and the discussion prompted me to go ahead with my post.

What Are You Doing Instead?

       When I pay someone to change my oil what do I do while I wait? I’m usually stuck sitting in a waiting room or browsing through the store (if I’m at Pep Boys or Walmart). I don’t earn any money while I’m waiting, so I can’t say I’m saving money or time by paying someone else to change my oil for me. If I can drop my car off and go do some income-producing activity, then it might be better for me to outsource the oil change. Even then, I need to make sure that my net after-tax hourly rate is going to be large enough to offset the cost of paying someone else to change my oil. If it’s not, then I’m better off changing the oil myself.

       The same can be said of many other activities we outsource. It’s easy to say, “Yeah, I’ll pay Jim $30 to mow my yard because it would take me 3 hours and I can earn $10/hour.” But this logic only works out if we take the time we would have spent mowing the yard and use it to earn money or provide ourselves with some other sort of value. This could mean enjoying a leisure activity or spending time with family. If mowing the yard would have prevented us from those (non-income producing) activities, then paying someone else to mow our yard might make sense depending on how much we value that time.

Sometimes It’s Better to Hire a Professional

Beautiful Tools by geishaboy500 on Flickr       Another exception would be projects that are better completed by a professional. If you do not have the ability to complete a project, then it’s probably best to pay a professional. You’ll save more money by having someone do it right the first time than having to go back and fix the mistakes you made trying to do it yourself. This can also be true if a project requires very specialized tools that we may never use again. This is the same logic we apply when we realize it’s better to rent a bulldozer to dig a hole than to buy it if we’re probably not going to use it again.

       However, it’s sometimes better to do a job yourself because you’ll know the quality of your work. When you hire someone else, you can get unlucky and end up with a “professional” who does shoddy work. With careful research and good referrals, you can usually avoid such misfortune. But if you know how to do a project and can do it well, you’re likely to get better results by doing it yourself than by hiring a “professional”. It also might be worthwhile to do it yourself because you’ll learn new skills you can use again in the future – thus allowing you to do even more yourself and save more money.

What’s It Worth to You?

DoItYourself.com       My point is that most of the time it makes sense to do it yourself. There are a few exceptions where this is not true, but simply valuing our time based on our gross hourly wage is flawed. We have to look at the value of our time spent in the replacement activity (the thing we’re doing instead of the DIY project). If the value of our replacement activity outweighs the cost of outsourcing, then we can safely say it’s better to outsource. This still neglects the benefits of learning new skills and the satisfaction that many people experience when they do something themselves, but that’s a very subjective benefit.

       Just as every other personal finance decision needs to be considered in light of your personal situation, so does weighing the option of doing something yourself or paying someone else to do it. Depending on the value of your time, the activity you’ll do instead of doing it yourself, your skill set, and your desire to do it yourself, it may or may not make sense to outsource a project. Be sure you consider these factors before you say you’re saving yourself money or time by outsourcing.

How to Make More Money: Get a Raise

September 1, 2009 in Work with 0 Comments

       The first part of God’s Provident Plan for a Christian’s personal finances is contentment in Christ, which results in spending less money. The second part is working hard, which results in making more money. Combine those steps with good stewardship, and you’ll make the most of what God has given you so you can give to others in His name.

       Following God’s call to work hard means doing a good job and earning as much money as you can. (Not for your own gain, but so that you might be able to give generously to the needy) One way to earn more money is to get a raise in your current job.

Earn Your Raise

       Usually, you won’t get a raise unless you deserve it. I’m not talking about a cost-of-living adjustment. I mean a raise over and above that inflation increase. And the only way to truly deserve a raise is to work hard and provide value to your company.

       There are a few specific things you can do to put yourself in a better position to get a raise. Here are some ideas:

  • Work Hard – Don’t waste time at work. Your employer will be able to tell if you’re just wasting time or if you’re working hard. This is especially important in blue-collar jobs because your productivity is often directly related to how hard you work.

    •  

  • Work Smart – Find ways to increase your productivity without letting quality suffer. Keep your eyes open for ways to help your company save money or, even better, make more money. Do more than what you were hired to do. Over-deliver, track your accomplishments, and you’ll be well on your way to getting a raise.

    •  

  • Be Nice – Be friendly and courteous to your boss, co-workers, and customers. Your ability to work well with other employees and deliver high customer satisfaction will greatly help you earn a raise.

    •  

  • Be Helpful – Don’t shrug off extra responsibilities because “That’s not my job.” If you are willing to help outside of your normal job duties, your boss will notice.

    •  

  • Get Educated – Getting a degree, taking more training, attending seminars, or even learning on your own will put you in a position to earn more money. Seek skills that your employer needs or will need – especially if those skills can help your company save or make money.

    •  

  • Talk to Your Boss – When you accomplish something great, make sure your boss knows. Don’t brag about how great you are, just fill him in on the details. Also, talking to your boss can alert you to more ways you can over-deliver. Maybe he needs help on a big project. Maybe the company is really losing money in one area and you have a solution. Don’t be obsessed with pushing your own agenda. Listen genuinely and seek ways you can help.



       Just doing these things won’t guarantee you’ll get a raise. You may be the hardest working person in the whole company, but if your boss doesn’t realize it you won’t get a raise.

You’ll Need to Ask

       You’ll almost always need to ask for a raise. Unless your boss is very aware of your accomplishments, it’s unlikely he’ll just announce he’s giving you a 10% raise. So plan on asking for your raise. Here are a few guidelines:

  • Do Your Homework – Know how much your skills are worth. There are plenty of free resources online to help you determine your value as an employee. Factor in any advanced skills you have or achievements you’ve made. Come up with a figure, put it on paper, and be prepared to explain how you got there.

    •  

  • Practice – Know what you’re going to say before you go talk to your boss. Why do you deserve a raise? What have you done over and above your regular job duties? How have you provided extra value to the company? Write down your answers, and practice your explanations.

    •  

  • Facts & Figures – Don’t rely on purely anecdotal evidence when you ask for a raise. Get the facts, figure out how much you’ve saved or earned for the company, detail any improvements you’ve made, and present them to your boss in a clear, concise manner.

    •  

  • Approach Your Boss – Don’t storm into your boss’s office demanding a raise. If you don’t have a scheduled review approaching and you haven’t had a raise in some time, ask to speak with him. If you’re not sure what to say, try this phrase: “I’d like to talk with you about a salary adjustment.” Present your case calmly and politely, and avoid ultimatums. Threatening to quit will only put you in a tough spot in the future.

    •  

  • Be Prepared for Any Reaction – If you actually deserve the raise, you’ve done your homework, and the company can afford it, you’ll likely get the raise you ask for. However, your boss may be in a bad mood (don’t approach him if he is), may need to talk to his superiors, may not have the money to give you a raise, or he might just not like you. Don’t be rash when you respond, and be willing to wait if necessary.

    •  

  • Take Further Action If Needed – If you don’t get the raise and you actually deserve it, it might be time to start looking for another job. Don’t quit before you have accepted a firm offer from a new employer. And be very wary of any counter-offers made to keep you on board. It’s almost always a terrible idea to take one because of the impression it gives your boss and co-workers.


Just Do It!

       Don’t bemoan your financial woes or explain away with excuses. If you want a raise, put in the work needed to get it and be prepared to ask. Don’t talk about what-ifs or worry about how you’re going to make it work. Just do it, and you’ll be climbing up the salary ladder in no time.

Your Most Valuable Asset

August 21, 2009 in Work with 0 Comments

       It’s not your home.

       It’s not your investment portfolio.

       And it’s not your collection of Beanie Babies.

       No, your most valuable asset is your ability to earn money. While it can take the shape of a single job (very rare) or a single career (a little more likely), many people today are earning money through a wide variety of jobs or careers.

       It doesn’t matter much how you do it. The important thing is that you earn money. If you’re not able to earn money, you won’t have a home. You won’t have an investment portfolio. That’s right. You won’t even have your beloved collection of beanie babies!

       More importantly, you won’t have food, clothing, shelter (of any kind), or much of a way to keep warm unless you’re able to earn money. (Aside from disability insurance and the like)

       Without a way to earn money, you don’t have to worry about how to manage your personal finances. You won’t have any!

How Do You Earn Money?

       Illegal activities, inheritances, and investing aside, you earn money by providing some product or service that other people value (or even better, need). So your ability to earn money is really your ability to provide something (anything) that other people think is useful. If you can do that, you can earn money.

       There are so many possibilities that I’m not going to bother listing them here. Just remember: if someone else thinks they need it, you can get paid for it. Food, clothing, ideas, manual labor, advice, etc. – if it’s valuable to someone, they’ll pay you for it.

Invest in Your Most Valuable Asset

       How can you manage your most valuable asset well? Invest in your ability to earn money. But what does that mean? Invest in your ability to provide value to others. More simply, invest in yourself!

       Anything you can do to improve your ability to provide something of value to others will improve your ability to earn money. Learning more, making connections with people, and finding ways to better meet your customer’s or your boss’s needs are simple ways to invest in yourself. They can take on many different forms depending on your current or desired profession, so figure out what will work for you.

       Does this mean you shouldn’t invest for retirement? Not at all. You won’t be able to work forever! But it does mean that you should spend more time focusing on your ability to earn money rather than your ability to invest it. Your earning ability is far more important than your investing ability. Learn what you need to invest well for retirement (stay tuned to Provident Planning for more on that), and focus instead on how you can earn more and spend less and do more with what God has given you (how you can glorify Him more).

How Does This Apply to Christians?

       Isn’t focusing on how you can earn more just plain greed? It depends on what you plan to do with your extra earnings. For some people, it’ll mean being able to save when they couldn’t before or being able to pay off debt. For those who are already managing their own finances well and are earning enough to meet their needs and savings, it’ll mean being able to give more in God’s name.

       The only time it would be greed is when you intend to spend whatever you can get on yourself – your own desires and wants (not needs). If you’re focused on meeting your needs (or your family’s needs) or how you can give more to help others, you’ll be glorifying God and fully acting within His Provident Plan for your finances. Motive is the deciding factor between greed and generosity.

       God has made it perfectly clear that He has called Christians to work hard. Not only will you provide for your own needs and avoid laziness, but you’ll also be following His plan for your finances and putting yourself in a position to give more generously. Hard work is the pathway to financial success because it helps us earn more so we’ll have more to save and give.

       So the next time you start thinking your home, your investments, or your Beanie Babies are your most valuable assets, remember that you wouldn’t have them if it weren’t for your ability to earn money.

Page 7 of 7« First...«34567