Bountiful: The Heart of Money Management

What are some considerations to make before making a big purchase? How do we know when a good time to buy an expensive item would be? During the holidays? At the end of a season? A lot of faithful financial management, including when to buy big-ticket items, has little to do with money and a lot to do with mindset. In this episode, we discuss how affordability as well as patience and self-control play a role in determining when a good time to buy something is.

"Purchases don't motivate us to make big life changes."

Episode Resources:

Bountiful episode: “Tips On Buying A Car” https://bountiful.transistor.fm/s15/7

Bountiful episode: “Self-Control With Our Finance” https://bountiful.transistor.fm/s14/10

Bountiful episode: “Things To Keep in Mind Before Getting a Pet” https://bountiful.transistor.fm/s13/11

Bountiful episode: “Buyer Beware” https://bountiful.transistor.fm/s13/10

Bountiful episode: “Should I Make That Big Purchase?” https://bountiful.transistor.fm/s12/11

Bountiful episode: “Penny Wise and Pound Foolish” https://bountiful.transistor.fm/s9/6

https://www.wisebread.com/buying-calendar

https://www.rd.com/list/the-best-time-to-buy-cheap-finds/

https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/the-best-time-of-year-to-buy-everything

https://accountinginsights.org/how-to-tell-if-you-can-afford-something/

When doubts enter our minds, how do we react? How do we handle uncertainties related to work, school, relationships, or money? In this episode, we talk about a few reminders that can help us focus on God instead of our doubts.

Diversification is a term commonly used in reference to investments. A diversified investment portfolio would include different asset classes like stocks, bonds, precious metals, real estate, or cryptocurrency. In this episode, we'll talk about diversification and how it helps our financial investments. We will also discuss how diversification applies to other, non-financial parts of our lives.

Episode Resources:

https://www.investopedia.com/investing/importance-diversification/

https://www.forbes.com/sites/brettsteenbarger/2019/05/27/why-diversification-works-in-life-and-markets/

Most of us want something - a raise at work, more savings, less debt, upgrading, or downsizing - but do we do anything to achieve those things? Are we looking at specific ways to accomplish what we want, or do we resign these ideals as impossible hopes and dreams? In this episode, we talk about the differences between dreams and goals to show how having goals can change our lives better than dreams can. Listen, and let us know what you think!

Episode Resources:

https://www.secretsofsuccess.com/blog/the-strangest-secret-earl-nightingale

We usually avoid things in order to not deal with them in the moment. We may avoid a friend because they like to have long conversations but we’re in a hurry. We may avoid a highway because there’s a lot of traffic on it. However, avoiding only defers problems – that friend still wants to talk with you, and you still have to hit the road. It’s the same deal with our personal finances. Our responsibility of managing God’s money doesn’t go away just because we avoid thinking about it. So, what should we do? Our recommendations are in this episode. Give it a listen!

Episode Resources:

https://thefinancialbrand.com/news/financial-education/financial-avoidance-the-fears-and-habits-holding-your-customers-back-189384

One of the biggest money mistakes we can make involves lacking the knowledge to understand a financial decision but going forward anyway. This could include misunderstanding how different savings accounts work, how much it costs to borrow money, or generally how to get out of a bad financial situation. Fortunately, there is a panacea to financial ignorance – knowledge! Listen to learn more!

Episode Resources:

https://pfinance.substack.com/p/the-coast-of-financial-ignorance

Are luxuries something Christians should have? Can we live faithfully while enjoying this life's extravagant or very nice things, or would that be wrong? In this episode, we talk about what a luxury is and some things to consider regarding the question "Are luxuries wrong?".

"Am I pursuing a life of luxury or am I pursuing a life of righteousness?"

Episode Resources:

https://one2oneacademy.com/living-beyond-necessity-the-perils-and-pleasures-of-luxuries

https://www.history.com/articles/toilet-paper-hygiene-ancient-rome-china

Financial Dysmorphia can alter your perspective between how your money situation is and how you think it is. In this episode, we describe this in more detail, highlighting some causes and signs of Financial Dysmorphia. We end with some ways to overcome this for those who may struggle.

Episode Resources:

https://www.verywellmind.com/money-dysmorphia-8713617

https://www.themoneypages.com/household-bills/money-dysmorphia-what-is-it-and-how-to-spot-the-signs/

https://www.creditkarma.com/about/commentary/gen-z-and-millennials-are-obsessed-with-the-idea-of-being-rich-and-it-could-be-leading-to-money-dysmorphia

https://www.mayoclinic.org/diseases-conditions/body-dysmorphic-disorder/symptoms-causes/syc-20353938

https://adaa.org/understanding-anxiety/body-dysmorphic-disorder

The prophet Jonah is best known for spending 3 days and nights in the belly of a great fish. However, there are a other things we can learn from Jonah that are more applicable to our lives, including how we approach our financial lives. In this episode, we take a common outline of the book of Jonah and put a financial spin to it: we can run from our finances, to our finances, with our finances, and ahead of our finances.

Episode Resources:
https://www.forbes.com/sites/truetamplin/2024/10/23/9-scary-personal-finance-mistakes-and-how-to-avoid-them/