Bountiful: The Heart of Money Management

We all will likely spend money on travel. We want to not only be responsible in our spending but also with our influence, especially when traveling to a foreign country. In this episode, Keith Kasarjian, Director of International Studies with Bear Valley Bible Institute, gives us his top five travel tips.

1. Pack light. It is liberating to have less.
2. Enjoy the journey. Traveling is more than just going from one destination to another.
3. Be a local. Walk around the area. Adventure is no more dangerous than routine.
4. Pack your patience. “You can complain about the wind, or you can adjust the sails.”
5. Never stop learning. Saint Augustine is credited with the saying, “The world is a book, and those who don’t travel read only one page.”

Resources:

• wetrainpreachers.com

To celebrate our 200th recorded episode, we’re sharing some lessons we learned about podcasting that correspond to principles of stewardship. In this episode, we’ll talk about those principles, how we apply them on this show and how we can all apply them in our personal finances.

1. Keep going even when it’s inconvenient.
2. Doing something is always better than doing nothing.
3. It’s better unscripted. You can’t control everything.
4. It works better when the load is shared.
5. Look back and see your growth if you can do so without judging your situation harshly.
6. Reexamine your strategy.

Resources:
https://veritysangan.com/should-i-quit-my-podcast-and-how-to-quit-gracefully/

Mortgages have been in the news a lot recently. Higher interest rates combined with higher prices have made mortgages more expensive than in the past few years. In this episode, Gary & Christy take away the click-bait words and (some) bias as they discuss interest rates, home prices, and things to consider when applying for a mortgage today.

Regardless of what mortgage rates do, remember this world is not our home. Even if you don’t get your dream home on earth, don’t let it discourage you to the point where you forget about your dream home in heaven. Jesus paid the price for that eternal home, making it affordable for everybody. Our part is to apply for that spiritual mortgage and stay faithful to our obligation to the Lord.

Resources:
https://money.usnews.com/loans/mortgages/articles/historical-mortgage-rates
https://www.macrotrends.net/2015/fed-funds-rate-historical-chart
https://www.nerdwallet.com/article/mortgages/pros-cons-adjustable-rate-mortgages

Conformity can be a good thing, especially when it involves positive peer pressure or keeping things organized. However, not all conformity is good. In fact, the Bible challenges us not to be conformed to this world (Romans 12:2). In this episode, we talk about conformity in our personal finances. This could happen when we spend how everyone else is, borrow how most people do, buy what most people get, or use our money the way most people do. As Christians, do we challenge ourselves to be intentional in our stewardship of God’s material blessings, or do we blindly follow the decisions of someone else?

Resources:
https://www.lads2leaders.com

https://www.forbes.com/sites/davidrae/2023/11/21/what-is-the-average-retirement-savings-by-age/?sh=3f70a5a7fdad

https://www.youtube.com/watch?v=gJdBNYWG4a0

https://www.businessinsider.com/personal-finance/average-american-debt#:~:text=The%20average%20debt%20in%20America,has%20the%20lowest%20at%20%2464%2C320.

https://www.debt.org/faqs/americans-in-debt/demographics

https://www.nerdwallet.com/article/banking/data-2023-savings-report

https://www.empower.com/the-currency/money/research-americans-daily-spending

https://www.definefinancial.com/blog/charitable-giving-statistics/

When we invest in a 401(k), IRA, or other type of brokerage account, we normally put money into individual stocks, individual bonds, or “baskets” like ETFs or index funds. We want to put our money to work for us in ways that will yield good returns, but do we look into those companies or agencies in which we invest to understand the values they promote? These companies produce, distribute, and are involved in various activities, but do we know whether those are activities we want to promote?

Dale Hubbert joins us for this episode to discuss values-based investing (VBI). This type of investing helps us be more intentional with our long-term savings by aligning our investments with our moral and spiritual convictions. VBI gives Christians the ability to screen out things we would not want to support and elevate companies seeking to do things that are wholesome for humanity.

It’s not always pleasant to talk about “ways people try to steal your money”, but it’s a necessary discussion. Part of being a good steward is learning the art of financial discernment – learning how to make wise decisions regarding our personal finances. One area of discernment is protecting ourselves from people who try to steal our online identity or steal our money. In this episode, we discuss some things we can do to help prevent us from being fooled by scammers and identity thieves.

Episode Resources

• Bountiful episode “Identity Theft” https://thelightnetwork.tv/bountifuls8e6/https://www.cisa.gov/news-events/news/choosing-and-protecting-passwords
• https://consumer.ftc.gov/articles/how-recognize-and-avoid-phishing-scams
• https://consumer.ftc.gov/articles/what-know-about-romance-scams
• https://www.fdic.gov/resources/consumers/consumer-news/2021-10.html
• https://www.nerdwallet.com/article/finance/how-to-stay-safe-from-financial-scams
• https://consumer.ftc.gov/consumer-alerts/2023/08/did-someone-insist-you-pay-them-cryptocurrency#:~:text=Bitcoin%20and%20Ether%20are%20some,usually%20can’t%20be%20reversed

Boundaries are an important part of having a healthy life and good relationships. In this episode, we discuss some tips on setting effective boundaries. These tips will help in most areas of our life and especially with our personal finances.

Resources:

• https://www.scienceofpeople.com/how-to-set-boundaries/
• https://www.helpguide.org/articles/relationships-communication/setting-healthy-boundaries-in-relationships.htm
• https://www.hollyscherer.com/boundaries/

Jesus talked a lot about stewardship during his ministry. In this episode, we highlight four things Jesus said that are recorded in Luke 12. Then, we discuss how we can live those things out. 

The passages we review are:

• Luke 12:1 – “Beware of the leaven of the Pharisees, which is hypocrisy.”
• Luke 12:6-7 – “Are not five sparrows sold for two pennies? And not one of them is forgotten before God. Why, even the hairs of your head are all numbered. Fear not; you are of more value than many sparrows.”
• Luke 12:15 – “Take care and be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions.”
• Luke 12:35 – “Stay dressed for action and keep your lamps burning.”

Financial literacy involves knowing the core building blocks of personal finance on which we can increase our knowledge. But, is financial illieracy a problem? Can we be faithful in our stewardship of God’s money without understanding money & how it works? In this episode, we describe what financial illiteracy may look like and whether we should be concerned about it.

Episode Resources

• “Bountiful 101: Introduction to Cryptocurrency” (Bountiful S9E15) – The Light Network
• “How To Build a Budget” (Bountiful S15E3) – The Light Network
• “Bountiful 101: Introduction to Investing” (Bountiful S10E2) – The Light Network
• “Signs of Good Financial Health” (Bountiful S1E12) – The Light Network
• “Making an Effort” (Bountiful S12E3) – The Light Network
• Financial Illiteracy Statistics: Recent Data, Causes & Solutions | NFEC (financialeducatorscouncil.org)
• According to the National Financial Educator’s Council, financial illiteracy is, “Lacking the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals.”
• What Is Financial Literacy? (thebalancemoney.com)
• The Balance indirectly defines financial illiteracy as “the inability to weigh the pros and cons of a money decision and confidently choose what to do.”
• BLOG: How to sacrifice short-term rewards for long-term benefits? (rsm.nl)
• Financial Literacy: Keep Your Money Tight and Right | Money Under 30
• The 5 Financial Illiteracy Mistakes to Avoid (thefinanceshub.com)
• https://money.usnews.com/money/personal-finance/family-finance/articles/worthwhile-online-personal-finance-courses

Buying a car can have an emotional aspect to it. Sometimes we view the vehicle we drive as an extension of ourselves, and this can complicate matters when what we want doesn’t fit within our budget.
In this episode, we discuss five things to keep in mind when you’re in the market for a vehicle.
First, know what you can afford. Just because we have money doesn’t mean it’s available to be spent on a large purchase.
Second, do research. This can be a fun and daunting task because there’s a lot of information available. Set aside your emotions for this part and focus on the potential practicality of this vehicle.
Third, test drive. It’s difficult to be comfortable with a car purchase when you’ve never driven it. There’s also some aspects of this that don’t involve driving (e.g. comfort of the seats, ease of opening doors, etc.)
Fourth, prepare to negotiate based on information rather than bias. When discussing with a salesperson or an individual about how much you’re willing to pay, base that number on facts. While it may be challenging, sticking to your budget is critical in order to walk away with a car that’s worth it to you.
Finally, be patient. As with all things in life, patience can help us. “Better is the end of a thing than its beginning, and the patient in spirit is better than the proud in spirit.” (Ecclesiastes 7:8)

Episode Resources

• https://www.kbb.com/car-advice/10-steps-to-buying-a-new-car/
• https://www.consumerreports.org/cars/buying-a-car/how-to-buy-a-car-in-todays-challenging-market-a7648220054/
• Car Affordability Calculator: How Much Can You Afford? (moneyunder30.com)
• Our Top 7 New Car Buying Tips | Bankrate
• 10 Tips for Buying Your First Car | FINN
• Test Driving a Car: A Checklist of What To Look For – Kelley Blue Book (kbb.com)