Archives For Corey

Space Shuttle Discovery STS-133 by NASA Goddard Photo and Video on FlickrAfter a long hiatus, I’ve decided to relaunch the blog. I’ve done some sporadic posting over the last year mainly because of increasing demands on my time. Things have been busy but I’m starting to find a better rhythm now. I feel like this is a good time to begin writing here at Provident Planning again.

My posting schedule is going to be much more relaxed. I’m only planning on roughly one post per week at this point because I have some other significant writing obligations coming up. (Details to come soon…) But I might publish one or two additional, shorter posts if inspiration strikes and time allows.

The posts are going to be a mix of new content and revisions of old content. I feel like I’ve been growing a good bit spiritually over the last year, and I want to go back and tackle some of the topics I’ve written on before with a slightly different approach and some (hopefully) better wording. I may remove some content altogether, but most of it will probably just be rewritten a bit. I know this will be fruitful for me, and I hope it will be for you all as well.

If you’ve visited the site lately, you’ll also notice I’ve redesigned the look. I’d be really interested in what you all think. Just let me know in the comments below.

Finally, thank you for all the support you all have continued to give me during this past year. Even though I haven’t been writing much I still get comments and emails from you all that stir my desire to continue writing. I’m looking forward to getting the conversations going again and talking with you all more. God’s richest blessings to all of you!

S&P 500 Soars After Earthquake!       This just in… today’s earthquake in Mineral, VA that prompted the evacuation of several buildings in Washington caused the stock market to soar. Stocks edged a full 1.23% higher before closing for the day after the temblor* hit the East Coast. In other news, butter production in Bangladesh was up 0.615% on August 23, 2010.

       And that’s why financial reporting is completely ridiculous… All the financial reporting that talks about stock market movements should come with a required phrase – “We think that the stock market…”. It’s amusing how we try to peg exactly what caused the market movements and why. The truth is these are only guesses.

       But seriously, the stock market really did go up after everyone in Washington had to leave their offices. Coincidence? I think not.

* Note: I picked this up from NPR. Gotta love thesauri…

A Reasonable Question about Gold

Corey —  August 15, 2011

Gold Bars by Mark Herpel on Flickr       On Friday, Free Money Finance posted a link to Sound Mind Investing’s new and free ebook about investing in gold. You can sign up to get the ebook here if you’re interested. I’ve been reading about this issue of gold, inflation, and the declining dollar for a bit now so I thought I’d check it out.

       After reading it, I headed back to FMF’s site to leave a comment and was pleased to find an insightful comment from Rick Francis who writes at Pondering Money. Rick’s question was this: If you believe that the dollar will weaken, political gridlock will continue, and that these are bad things, why not hedge against inflation with something that hasn’t had a “meteoric” (as SMI puts it) price increase? And while you’re at it, why not choose a commodity that actually has practical uses like oil, real estate, or food? (Or if you’re really worried, shotgun shells and bottled water…my words, not Rick’s.)

       Take, for example, copper. Copper has a large number of practical applications while gold has only a limited few. Now I’m not saying copper is the right choice. I’m just giving you an example. Oil could be another good example.

       Here’s another one: real estate. Or even better, how about real estate with a commodity on it – land with standing timber. Again, I’m not saying these are the ideal alternatives for gold. Rather, I’m simply trying to make the point that there are some other commodities that you can make a better case for investing in than gold. So don’t try to take me to task for a possibly poor choice of replacements. The question still stands: can we find no better, more useful, more reasonably priced commodity to use as a hedge against inflation than gold?

       The Christian Financial Alliance was created to help readers. The idea is this: Create a panel of biblical finance gurus – people who take seriously the call to teach the Bible accurately with grace and truth. Once a month, we post a question with a response from our panel to provide you with well-rounded, sound, biblical advice. For more on the Christian Financial Alliance (or to join our team) click here.

Name one spiritual reason to get out of debt.

       “When you’re in debt it can become a barrier to your relationship with Christ. As Matthew 6:24 says, “No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.” When you have a large amount of debt it can cause money to become your master, at the detriment of your walk with Christ.” – BibleMoneyMatters.com

       “Because it’s wise to do so. Every time the Bible talks about debt, it does so as a warning or in a negative light – debt is never presented in a positive manner. The Bible’s wisdom says to avoid debt and the soundness of that advice has been proven time and time again.” – FreeMoneyFinance.com

       “While debt itself is not evil, it can be a sign pointing to a deeper problem in our lives. The typical person in thousands of dollars of credit card debt gets there by being focused on consumerism and materialism rather than pursuing God’s kingdom first. (That’s not always the case, but it is very common.) So a good spiritual reason to get out of debt is to break that cycle of buy, buy, buy and free yourself from valuing your life based on your possessions. For many people, getting out of debt can be a first step to passionately pursuing God’s kingdom.” – ProvidentPlan.com

       “Self-control is a fruit of the Spirit (Gal. 5:23). Avoiding and getting out of debt requires self-control (to say the least!). Therefore, I think we learn a lot about this fruit when we start steering away from debt.” – DollarsandDoctrine.com

       “Debt can hinder our ability to hear God’s call on our life. We can have so many bills to pay that if God calls us to some type of work that pays less that what we’re currently making we may think we have a fuzzy connection. Living free from the bondage of debt frees us to hear and respond to whatever He calls us to.” – MattaboutMoney.com

       “Wonderful opportunities to serve the Lord are jeopardized when debt obligations demand our constant attention. It’s awfully hard to purchase airline tickets and the supplies needed to go on a missions trip when monthly payments for the Visa and line of credit consume most or all of our income above the basic necessities. Imagine how great it would be to hear of a need for help and be able to pay cash – not only to visit that country to work – but to generously give to the individuals who stay there serving the Lord when we return home! Financial freedom from debt not only releases us from repayment bondage but it allows us to answer God’s calling when asked to serve Him.” – StewardshipWeekly.com

       For more on the Christian Financial Alliance (or to join our team) click here.

       Readers, what would your answer be? What’s a spiritual reason to get out of debt? What did you think of the responses? Share your thoughts in the comments below!

The Root of Riches       Several weeks ago, I interviewed Chuck Bentley about his new book The Root of Riches. I really enjoyed the book and thought Chuck and I had a great conversation. I highly recommend the book for anyone looking to go beyond the right financial practices and get to the heart of what it means to follow Christ in our finances.

       Crown Financial Ministries has graciously given me a copy of The Root of Riches to give away in addition to a lifetime membership for Crown Mvelopes – an online budgeting system. You can learn more about Crown Mvelopes here.

Crown Mvelopes

       To win, all you need to do is like Provident Planning on Facebook before Friday, August 5, 2011 at 5:00 PM EDT. (Note: This is different from my previous Facebook page which was through NetworkedBlogs. So if you’re already following Provident Planning on Facebook through the NetworkedBlogs app you are eligible to enter this giveaway!)

       Anyone who becomes a fan on Facebook between now and the deadline will be eligible to win. I’ll randomly select two winners – one for the book and one for the Crown Mvelopes lifetime membership. If you have a preference, let me know in the comments below.

       I’ll announce the winner on Provident Planning’s Facebook page so be sure to keep an eye out for it Friday evening. If you win, make sure you get back to me so I can arrange to get you the book or membership code. If you don’t get in touch with me by Monday, August 8, I’ll select another winner. Good luck!

Are You a Trader?

Corey —  July 18, 2011

       I’m not talking about stocks or bonds. Are you willing to trade in the pursuit of the “American Dream” and instead pursue God’s Kingdom and His Ways? Check out this video:

       So, are you a trader? Let me know in the comments below!

       The Christian Financial Alliance was created to help readers. The idea is this: Create a panel of biblical finance gurus. People who take seriously the call to teach the Bible accurately with grace and truth. Once a month, we post a question with a response from our panel to provide you with well-rounded, sound, biblical advice. For more on the Christian Financial Alliance (or to join our team) click here.

In your own words, define biblical generosity.

       “Biblical generosity is giving that is a result of a transformed heart. We give because God loved us first and because we long to love, live and give as He did. We want to grab hold of the abundant life in Christ – of which giving is an important part. We are told by Jesus himself that “it is more blessed to give than to receive” (Acts 20:35). By giving we are also able to help release the hold that money can create on our hearts. “Instruct those who are rich in this present world…to do good, to be rich in good works, to be generous and ready to share…so that they may take hold of that which is life indeed.” (1 Timothy 6:17-19) We are told that our heart can’t serve two masters, and by being generous with what God has given us we’re able to release it’s hold on our lives and truly serve Him. “Each one must do just as he has purposed in his heart, not grudgingly or under compulsion, for God loves a cheerful giver.” (2 Corinthians 9:7) To me giving generously in a biblical manner leads to happiness, fulfillment and to loving others as Christ first loved us.” – BibleMoneyMatters.com

       “Loving your neighbor by using money to make his life better in some way.” – FreeMoneyFinance.com

       “Generosity, in my own words, is being spirit led for giving decisions. If we feel that God is leading us to be generous in a certain way with our money, we should act on this in faith. This requires us to not be overly attached to money, but always remaining open to God’s plan. After all, we’re called to manage it for him. The best way to release the hold on money is to stretch your faith and give to God first out of every paycheck.” – OneMoneyDesign.com

       “Biblical generosity is fueled by a passion for sharing God’s love with the world. It’s about realizing the great gift we’ve received from God through Jesus Christ and desiring to pass that gift on to others (in a variety of ways – not just money). It’s cheerful, freewill, and sacrificial and is motivated purely by love.” – ProvidentPlan.com

       “Biblical generosity is extending the goodness of God and grace of Jesus Christ to the world by living a life of pouring out–of putting the needs of others above ourselves.” – DollarsandDoctrine.com

       “Biblical generosity is seeking first the kingdom of God. It is accepting and adopting a new mind with which we evaluate what makes sense and what is a good financial decision. It is the desire to love God and others – even when others can’t understand those choices. Biblical generosity means acknowledging the blessings of God in our lives and giving him full ownership over everything we have.” – MoneyHelpForChristians.com

       “It blesses God when we are generous. It’s an act of worship; it’s a way we can show love to others; it develops character within the giver. When we give freely, we can experience the joy that comes from it and be blessed in our own life as we bless others.”-FaithandFinance.com

       “To me, there is one very straightforward passage in scripture that tells us what Biblical generosity looks like, those verses are found in Luke 10:25-37. It’s the story of a Samaritan (who was hated by the Jews), stopping alongside the road, and helping and providing for a Jew, someone that socially despised him. This is the present day equivalent of a well known political nemesis, the star player on a sports team that just beat your team, or someone from a different religion as you. And what Jesus is asking you to do is this, stop what your doing, help them out, and provide for their needs. There is only one way that we are able to meet the scriptural example of being generous. We must love our neighbors as ourselves (Mark 12:31), and we must be willing to love our enemies (Matthew 5:44). If our life, not just our answer, looks like this, then I think we are living a Biblically generous lifestyle.” – DiscipleshipGuy.com

For more on the Christian Financial Alliance (or to join our team) click here.

       Readers, how would you define Biblical generosity? Let me know in the comments!