Bountiful: The Heart of Money Management

We’re honored to have Amanda Key, who worships with the Mt Leo church of Christ in McMinnville, TN, be our guest on this episode. Amanda is a Life Skills instructor, and part of that curriculum includes teaching fundamental financial concepts to her middle school students. Amanda shares with us some of her experiences in teaching this class. She states, “There’s so many decisions we make in life that end up costing us financially in the long run.”

Getting an education at a college or university has been discussed on the news, mentioned in blogs, and even been argued in the political arena. But, with the cost of higher education rising and the economy’s ups and downs, is the cost of college worth the benefit? In this episode, Gary and Christy analyze this question by discussing the importance of education, options for education after high school, and some thoughts when considering whether going to college may be worthwhile for you.

Links

• Click here for all episodes of Bountiful: The Heart of Money Management
• https://college-education.procon.org/
• https://studentloanhero.com/student-loans/is-college-worth-it/
• https://www.suzeorman.com/blog/what-parents-get-so-wrong-about-college
• https://www.nerdwallet.com/blog/loans/student-loans/10-surprising-reasons-college/
• https://www.moneytalksnews.com/is-the-cost-of-college-worth-it/
• https://www.carefulcents.com/invest-in-yourself/
• https://www.mikeroweworks.com/

Abraham can teach us a lot about having a proper attitude about material possessions. In this episode, Gary and Christy talk about the ABC’s of Abraham, bringing out lessons from this Old Testament patriarch that are applicable to Christians today.

Resource:

• http://www.stevesweetman.com/articlesold/altar.htm

Bountiful 101 is a new series that breaks down a money-related subject into it’s fundamental parts. In this episode, Gary and Christy talk about some of the basics of banking. Why put money in a bank? What’s the difference between banks? They conclude by mentioning some terminology banks use as well as a few things to think about when choosing a bank.

Links

• A video about which is better: credit unions or banks.https://www.moneytalksnews.com/ask-stacy-which-is-best-banks-or-credit-unions/?utm_source=newsletter&utm_campaign=email-2018-02-09-pm&utm_medium=email&subscriber=yes
• http://www.bpl.org/kbl/files/2013/03/Banking-Basics.pdf
• https://www.nerdwallet.com/blog/banking/how-regulation-d-affects-your-savings-withdrawals/
• http://www.cardrates.com/advice/atm-card-vs-debit-card-vs-credit-card/
• https://www.nerdwallet.com/blog/banking/10-essential-banking-terms/
• https://www.moneyunder30.com/banking
• https://www.moneycrashers.com/how-to-choose-bank/
• https://www.moneytalksnews.com/sidestep-these-12-common-money-mistakes/?utm_source=newsletter&utm_campaign=email-2018-02-11-am&utm_medium=email&subscriber=yes
• https://www.moneytalksnews.com/banking-fees-are-killing-you-here-are-14-ways-dodge-them/
• https://www.fdic.gov/deposit/deposits/faq.html

We’re excited and blessed to have Katie Pruett as our guest on this episode. Katie shares some lessons she’s learned along her personal finance journey, from paying for college to buying a car. Then, Katie discusses how to stay motivated to pay down debt. She states, “Sacrificing to get out of debt is easier than staying in debt.”

There is at least some overlap between time and money. Time is different than money in that we can’t get time back once it’s been spent. On the other hand, time is like money because it is a blessing from God. Therefore, we ought to be good managers of our time, and doing that involves appreciating the value of our time and prioritizing what matters most. In this episode, Gary and Christy talk about the nature of time, the breakdown of time, and how we can make the most of our time.

Links

• Where to find Master Your Time, Master Your Life by Brian Tracy – https://www.amazon.com/Master-Your-Time-Life-Breakthrough/dp/0399183825/ref=sr_1_1?ie=UTF8&qid=1520091052&sr=8-1&keywords=manage+your+time+manage+your+life
• Where to find No Limits by John Maxwell – https://www.amazon.com/No-Limits-Blow-Your-Capacity/dp/1455548286/ref=sr_1_fkmr0_1?s=books&ie=UTF8&qid=1520091169&sr=1-1-fkmr0&keywords=no+limits+how+to+blow+the+cap+of+your+capacity
• https://www.forbes.com/sites/patbrans/2013/02/19/the-top-ten-challenges-in-time-management/#155e43f31d36
• https://www.huffingtonpost.com/yoav-shoham-/6-reasons-why-time-management-is-hard_b_5078758.html

Marriage is a blessing, and while marriage is not about money, money is a part of marriage.  Rather than allow money to pull you apart, work together as a married couple in every aspect of your life together, including your family’s personal finances.  Enhance your marriage by putting God first, joining your financial lives together, and making your combined financial life work together in the roles that God has assigned to each of you.

Links

• https://thelightnetwork.tv/bountifuls2e8/
• https://www.crosswalk.com/family/finances/how-to-mess-up-your-marriage.html
• https://www.forbes.com/sites/jenniferwoods/2015/07/06/10-ways-to-prevent-money-from-ruining-your-marriage/#7787c00b44c9
• https://www.moneyharmony.com/moneyharmony-quiz
• https://www.valuepenguin.com/average-cost-of-wedding
• https://www.focusonthefamily.com/marriage/money-and-finances/money-management-in-marriage/marriage-and-money-what-does-god-expect
• https://www.gotquestions.org/money-marriage.html
• https://www.daveramsey.com/blog/the-truth-about-money-and-relationships
• https://www.thebalance.com/planning-marriage-and-money-1289663

We are thankful and blessed to have Keith Kasarjian, director of Extension Studies at the Bear Valley Bible Institute, as our guest.  Keith also presents financial seminars all over the world.  In this episode, Keith talks to us about how to brighten your financial future, the importance of contentment, and the dangers of when/then thinking. Keith states, “Once we start making a few right decisions, we create positive momentum.”

In this episode, Gary and Christy talk about some myths regarding money.  They review some myths surrounding questions like:

• Is it good for my credit score to keep a balance on my credit card?
• Should I buy as much house as I can afford?
• If my spouse handles the finances, do I need to be concerned with money?
• Is a bachelor’s degree necessary to get a good job?

Links

• https://www.myfico.com/downloads/files/myfico_uyfs_booklet.pdf – A summary of how the FICO credit score is calculated
• http://www.businessinsider.com/compound-interest-retirement-funds-2014-3 – How Compound Interest Affects Your Retirement
• https://www.nerdwallet.com/blog/mortgages/house-afford/?trk_source=mortgages_hac_mustread&trk_content=blog_reallyafford+pos_topright+pageviewid=6ed9b1cd-eb44-463e-9b22-f3be8442891e&trk_destination=house-afford&trk_origin=calculate-affordability&trk_app=tool
• https://www.allstate.com/tools-and-resources/car-insurance/financing-a-car-vs-paying-cash-calculator.aspx – A tool to determine the difference between paying cash and financing a car
• https://www.thesimpledollar.com/doing-the-math-on-paying-cash-for-cars/
• https://www.moneyunder30.com/how-much-car-can-you-afford
• https://www.consumerreports.org/car-repair-maintenance/make-your-car-last-200-000-miles/
• https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194/ref=asap_bc?ie=UTF8 – link to buy Rich Dad Poor Dad book

The subject of lending money to family or friends is a sensitive one.  Everyone is different, and every situation is unique.  With that in mind, Gary and Christy provide some principles to consider before lending money to our family members or friends and list a few alternatives to lending money that may help those we know who are in need.

Links

• https://www.moneycrashers.com/why-you-should-not-lend-money-to-friends-and-family/
• https://www.crosswalk.com/family/finances/debt/is-it-wise-to-loan-money-to-family-and-friends.html
• https://www.moneytalksnews.com/tired-loaning-money-friends-and-family-heres-how-stop/