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Teaching Your Teen To Be Money Smart

 

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When our children were teenagers, we learned that the key to successfully teaching them the biblical perspective of money making and God’s way of money management was to be MVP parents!

The M stands for Modeling, the V stands for Verbally communicating what the Bible says, and the P stands for Practical opportunities for the teens to actually apply what they are learning

Let’s look at money making. The Bible encourages us to work hard. Ecclesiastes 9:10 says, “Whatever your hands finds to do, do it with all your might.” And laziness is condemned: “He who is slack in his work is brother to him who steals” (Proverbs 18:9). So, how can parents teach their teens to work hard

  • Parents need to be models of hard work themselves because what we do is more impactful than what we say.
  • Assign kids daily household chores to teach faithfulness with routine responsibilities.
  • Provide them opportunities to earn extra money at home, and encourage children to work for others to learn what it means to be in an employee—employer relationship.
  • Requiring your teen work at least one summer in something requiring hard labor is very beneficial. I’ll never forget working one Florida summer in a lumber yard & cement block, and learning what it really meant to work hard.

When it comes to money management, it’s super important for teens to understand that God owns all they have, and they are to be faithful managers of whatever the Lord entrusts to them. They need to learn that Saving is good, Debt is bad, Giving is fun, and they shouldn’t get caught up in impulsively spending money on things they don’t need.

Also teach them how to use a spending plan, a budget. Mint.com is an online system that’s free and would get place for them to start.

To check out our Give, Save, Spend online study for teens click here- http://bit.ly/2il0vTV

To find a good spending plan/budget for your teen click here- http://bit.ly/1aJQxzP

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Biblical Perspective On Paying Your Taxes

 

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What is the biblical perspective on paying taxes? That is the same question that was asked of Jesus. “Is it lawful for us to pay taxes to Caesar or not?. . . [Jesus] said to them, ‘Show Me a[Roman coin]. Whose likeness and inscription does it have?’ And they said, ‘Caesar’s.’ And He said to them, ‘Then give to Caesar the things that are to Caesars’” (Luke 20:22-25). This is an example of the contrast between the practices of our society and the teaching of Scripture. Avoid paying taxes at any cost, people rationalize; after all, the government squanders much of what it collects.

I am not condoning the waste found in government. In fact, I believe a citizen should make an effort to influence government to be more efficient. But the Bible tells us of an additional responsibility: to pay your taxes! “Let every person be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God . . . because of this you also pay taxes, for rulers are servants of God, devoting themselves to this very thing. Render to all what is due them: tax to whom tax is due”(Romans 13:1, 6-7). It is permissible to reduce your taxes by using legal tax deductions, but we should be careful not to make unwise decisions simply to avoid paying taxes.

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The 3 Biggest Lessons I’ve Learned About Biblical Finance

In 1973, my business partner asked me to join him in a study of the Bible to discover what it said about money and possessions. I had never read the Bible before so this was going to be an eye-opening experience……..and it certainly was!

 

There were three things that really resonated with me during this year-long project.

 

  1. The Bible says a ton about money! There are 2,350 verses dealing with money and possessions. In fact, 15% of everything that Jesus said had to do with it. The reason the Lord said so much about money is simple. God loves and cares for us. He knew that all of us would have financial challenges and he wanted to equip you to handle it wisely.

 

  1. I thought that the only financial subject the Bible would address was generosity — the handling of 10 percent of our money. But it tells us how to earn, spend, save, give, invest, get out of debt, and teach our children. It shows us God’s way of handling 100 percent of our money. Everything we need to know about handling it is found in God’s word.

 

  1. Finally, the Bible reveals God has a role in handling money, and we have a part. God’s part is that he is the owner of everything, He is the One who provides our needs, and He is in ultimate control of all events. Take a look at how 1 Chronicles 29:11-12 sums up God Part: “Everything in the heavens and earth is yours, O Lord, and this is your kingdom. We adore you as being in control of everything. Riches and honor come from you alone, and you are the ruler of all mankind. Your hand controls power and might, and it is at your discretion that men are made great.” Our Part is that we’re to be faithful stewards of whatever God entrusts to us.

 

If you would like a Bible that has each of the 2,350 verses highlighted that deal with money and possessions, check out our Financial Stewardship Bible.

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The Heart Behind Giving and Being Generous

We’re almost one month into the new year, and by now you’ve had time to update your checkbook, hang the new wall calendar, begin your new one year study bible and reconsider most of you new year’s resolutions ☺ Let’s start by taking a look at what the Bible says about saving and giving.

In Proverbs 21:20, wise King Solomon wrote, “The wise man saves for the future; the foolish man spends whatever he gets.”  Saving is simply not spending everything today, so you’ll have something to spend in the future.  It’s legitimate to save and invest for things like taking care of your family, providing for retirement and investing for your children’s education.

But we need to balance saving and investing with being generous because if we just focus on piling up our investments that’s where our heart is going to be drawn. Luke 12:34 says, “For where your treasure is there is your heart also.”  The Bible consistently encourages us to keep our heart focused on loving and serving the Lord. So it is incredibly important to balance saving with giving. I’m going to suggest something pretty radical.  I believe we should be giving as much as we contribute to our savings and investments each year to protect our hearts.

Recommended article: Your 10 Most Important Financial Moves for 2014 at www.SoundMindInvesting.com

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What the Bible says about Handling Money

When I’m introduced to someone and am asked what I do for a living, I tell people that I teach what the Bible says about handling money. Often my new acquaintance looks at me in disbelief and says, “The Bible talks about money? How does that apply to us today?

The Bible is loaded with 2,350 verses dealing with how to handle money and possessions. Surprisingly, 15 percent of everything that Jesus said had to do with it. There are two major reasons the Lord said so much about it.

First, God loves us like crazy and He realized that from time to time money was going to be a challenge for us all – so He wanted to give us a road map to handle it the very best way possible. Second, He knew that money would be the primary competitor with Christ for the lordship of our lives. Matthew 6:24 says, “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to one and despise the other. You cannot serve both God and money.”

The Bible reveals that God is the owner of all that we have. Psalm 24:1 tells us, “The earth is the Lord’s and everything in it.” On the other hand, our responsibilities are summed up in 1 Corinthians 4:2, “It is required in stewards that one be found faithful.” Our job is to faithfully handle money God’s way.

Fortunately, the Bible tells us why and how we are to work, give, save, spend, invest, get out of debt, and teach our kids how to handle money in the wisest way possible.

The Bible is God’s word and everything in it is true. It is practical and applies to every generation and every culture.

To learn more about what the Bible says about money, order the Financial Stewardship Bible at www.compass1.org. Compass partnered with American Bible Society in producing this Bible that has all 2,350 verses highlighted (in green, of course) and a 40-day financial devotional.

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The Importance of Faithful Giving as Christians

I like giving!

Ever wonder why Jesus told so many parables, and the Bible has so many stories? The answer is easy. Most of us learn best through stories that make a point. Just think about the stories in the Bible about giving:

  • In Mark 12:41-44 the story was about the poor widow who gave all that she had – a couple of copper coins – and Jesus said she gave more than all the rich folks who were giving tons of their money away.
  • Acts 11:27-30 tells us about Agabus who prophesized that “there would certainly be a great famine all over the world . . . and in the proportion that any of the disciples had means, each of them determined to send a contribution for the relief of the brethren living in Judea.” Bad times were coming, and the first thing the disciples did was give to the needy.
  • In the story about the tax collector Zaccheus, he told Jesus, “Half of my possessions I will give to the poor, and if I have defrauded anyone of anything, I will give back four times as much” (Luke 19:8). Right after Zaccheus was introduced to Christ, he became a generous giver.

These stories of generosity are intended to motivate us to be generous. Brad Formsma, a former businessman, is passionate about God’s people becoming joyful givers through modern day stories. He has developed a Web site www.ILikeGiving.org that is loaded with excellent video stories of people who have learned it is more blessed to give than receive.

Brads outstanding book, I like Giving, will also encourage you through stories to grow in your generosity. And as followers of Christ, we need to learn to give more. The average Christian gives only 2.6% of their income and 40 percent of regular church attenders give nothing to their church.

May you and I live our own story of growing in our giving.

Warmly in Christ,

Howard Dayton

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Deuteronomy 17:18-20

Dear Friends,

For the second month in a row we received wonderful news at our appointment with Bev’s oncologist. The cancer markers in her blood declined from 50 to 31.5 (less is better)! So, in the past two months the markers have declined from 98 to 31.5 – – – a decrease of 68%!

We are incredibly grateful for all who have prayed for Bev’s healing from the breast cancer which spread to her bones. God is good, and He is faithful.

I’ve been reading through the book of Deuteronomy lately and was struck by an interest passage this morning. Deuteronomy 17:18-20 is a command to those who would serve as kings in Israel. Here’s what it says: “when he [the king] sits on the throne of his kingdom, he shall write for himself a copy of this law on a scroll . . . he shall read it all the days of his life, that he may learn to fear the Lord his God, by carefully observing all the words of this law and statutes, that his heart may not be lifted up Continue reading Deuteronomy 17:18-20

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Breaking News!

Dear Friends,

The Donald and Kim Kardashian beat Bible on money advice!!

I was privileged to work with the American Bible Society (ABS) in producing the Financial Stewardship Bible. ABS did a terrific job with this very helpful Bible with all 2,350 verses dealing with money and possessions highlighted–in green, of course.

The Bible has just been publicly released, and USA Today conducted a survey to find out who the public would trust more for financial advice: the Bible, Donald Trump (several of his properties have been through bankruptcy) or Kim Kardashian (the reality show star).

Please go to http://usat.ly/zypXei to see the article and the results. I sent this link to a friend last night, and his response says it all:

“It never ceases to amaze me how glitter and superficiality in our culture take precedence over true and real values and meaning. Glamour over God’s Glory, so the world thinks. But this results only in meaningless detraction and depression rather than having eternal definition and purpose.

Pray for the work Compass has been called to do. We have a long way to go in equipping people in our country to handle money God’s way.

Warmly in Christ,
Howard

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Lessons from Hezekiah

Today I was reading in my One Year Bible the life story of Hezekiah king of Judah – 2 Kings 17-20. I enjoy reading about leaders, especially from the Bible. I look for leadership insights that I can utilize in my daily leadership. Today was no exception; there were a number of nuggets!

  • Hezekiah did what was right in the eyes of the Lord! He removed all idol worship from Judah. A direction that greatly pleased God and one that no other leaders before him including Solomon had done!
  • He prayed regularly about the matters of his daily work and leadership.
  • He trusted in the LORD and there was no one like him among all the kings of Judah, either before him or after him.

These I found to be admirable leadership qualities but as I read I found situations which made me wonder. Yes, Hezekiah relied on the LORD, but not always. His pride got hold of him on at least 2 occasions and instead of praying for clarity or direction he acted from his own experiences and these ‘pride fests’ caused major destruction within this nation. He prayed, but not always before acting, and this lack of prayer caused Judah to come under siege from Assyria and eventually lead to an invasion from Babylon. When confronted on these issues by Isaiah the prophet, he didn’t repent or seek forgiveness. This may have caused God to delay the pending judgment on his nation and preserve the life of the next generation.

My takeaways today: 1) Get in the habit of crying out to God on all occasions for his guidance and direction. 2) Put my life experiences in the right light and seek God’s will not mine. 3) Seek forgiveness and repent when convicted especially in matters that affect the next generation.

God Bless,
Dave