Bountiful: The Heart of Money Management

Bountiful 101 is when we take a subject, like fiduciaries, and introduce some of its concepts. Our goal for episodes like this is to combine our Christian attitude with a little bit of knowledge in order that we may glorify God by making wiser decisions with the money & possessions with which we are blessed. Fiduciary relationships involve trust, loyalty, and honesty. In this episode, we discuss what this could mean from a financial perspective.

Episode Resources

• Other Bountiful 101 episodes:
  • Banking: https://thelightnetwork.tv/bountifuls3e8/
  • Credit Scores: https://thelightnetwork.tv/bountifuls3e13/
  • Retirement: https://thelightnetwork.tv/bountifuls7e2/
  • Buying a Car: https://thelightnetwork.tv/bountifuls7e4/
  • Cryptocurrency: https://thelightnetwork.tv/bountifuls9e15/
  • Investing: https://thelightnetwork.tv/bountifuls10e2/
• https://www.consumerfinance.gov/ask-cfpb/what-is-a-fiduciary-en-1769/
• https://www.nerdwallet.com/article/investing/fiduciary
• https://www.forbes.com/advisor/l/top-fiduciary-financial-advisors
• https://www.nerdwallet.com/article/investing/types-financial-advisors
• https://smartasset.com/financial-advisor/what-is-fiduciary-financial-advisor
• https://www.stimmel-law.com/en/articles/fiduciary-duty
• https://www.legalzoom.com/marketing/estate-planning/power-of-attorney

Even though the recommended savings goal is typically 10% of disposable income, research suggests that the average American saves less than half that amount. There are many reasons why many of us fall short of that 10% ideal, and some of those reasons are within our control. In this episode, we discuss some things we could do to help us be better savers.
First, there’s the mentality of saving. To be a better money-saver involves being patient. Having patience helps us avoid mistakes and make better financial decisions.
Then, there’s the practicality of saving. We can save money more effectively when we understand where it is going and when we take the time to look for opportunities to improve that. This could mean asking our family for insight and help or setting up automatic transfers to set aside money regularly. 

Episode Resources

• Bountiful episode “3 Ways To Be A Better Saver” https://thelightnetwork.tv/bountifuls9e9/
• Bountiful episode “Introduction to Investing” https://thelightnetwork.tv/bountifuls10e2/
• https://www.forbes.com/advisor/banking/savings/american-savings-statistics/
• https://www.forbes.com/sites/forbesfinancecouncil/2021/09/21/what-is-your-money-mindset/?sh=2a1fd2f25431
• https://www.amazon.com/Psychology-Money-hardback-Timeless-happiness/dp/0857199099/ref=asc_df_0857199099/?tag=hyprod-20&linkCode=df0&hvadid=509245866633&hvpos=&hvnetw=g&hvrand=5428965949993914906&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9013096&hvtargid=pla-1069316315471&psc=1&mcid=c029fde810cb3f2d96720aa29c2a22bb&gclid=CjwKCAiAt5euBhB9EiwAdkXWO9tc8B6JP_OFTNH2GL5asGxCwukjBOBBVl8p4ARtsTjHJ6EvC9ZqvhoCHh4QAvD_BwE
• https://www.nerdwallet.com/article/banking/high-interest-savings-account
• https://www.businessinsider.com/personal-finance/savings-goals

Unexpected expenses are, ironically, something we expect to happen. This could be a home repair, medical bill, school expense, or an event in your life. In this episode, we talk about what we can do when unexpected expenses happen. Even though we cannot control what or when or how much an expense would be, we can control how we handle that situation. Colossians 4:5-6 teaches us to walk in wisdom toward outsiders and let our speech always be gracious. We should never allow a financial setback to lead us to a spiritual setback.

Episode Resources

• https://www.rentdata.org/states/2024/
• https://careerlifechoices.com/how-to-cope-with-the-unexpected/
• https://www.self.inc/blog/unexpected-expense
• https://www.moneycrashers.com/types-unexpected-expenses-plan/

Budgets are for everybody. While a budget may look different from person to person, everyone can reap the benefits of having an outlined spending plan.
In this episode, we talk about what a budget is, the importance of budgets, and then how to make a personal financial budget for you and your household.
A budget is a written plan that shows your anticipated income and your anticipated expenses and outlines how you can reach your financial goals. Budgets may feel restrictive, but they’re really empowering. They can help us prepare for emergencies, reduce financial stress, and have confidence in our ability to pay our bills and reduce our debts. Budgets also provide an objective measuring stick, and provide insight into our stewardship of God’s material blessings with which we’ve been entrusted.
Listen to this episode to hear more and learn the nuts and bolts of building your own budget.

Episode Resources

• https://www.thepennyhoarder.com/budgeting/budgeting-statistics/
• https://www.thepennyhoarder.com/budgeting/budgeting-tips/
• https://dfr.oregon.gov/financial/manage/pages/budget.aspx
• https://www.thebalancemoney.com/how-to-make-a-budget-1289587#:~:text=Track%20expenses%20regularly,income%20or%20expenses%20have%20changed
• https://consumer.gov/managing-your-money/making-budget
• https://www.biblemoneymatters.com/avoid-the-distractions-and-keep-your-focus-on-your-goals-or-youll-end-up-with-empty-pockets/

When it comes to our material possessions, including money, we want to make sure to keep them where they belong. If our money is “rightly placed”, so to speak, then our plans to give, save, and spend have good chances of success. We would also be more likely to live bountifully in service to God, using his blessings in the best way.
In this episode, we talk about 3 ways to keep money in its place. By following these principles from 1 Timothy 6:18, our material blessings will be put toward doing good like Jesus did when He walked among us.

We usually like to keep things in their “spot”. Car keys, wallets, and toothbrushes all have a place where they belong. If these get misplaced, we have trouble finding them. We try to proceed through our day, but we have to backtrack to find, not what was rightly placed, but what was misplaced.
When it comes to our material possessions, including money, we want to make sure to keep them where they belong. If money gets misplaced, then our plans to give, save, and spend can be upended. We try to move forward with our finances, but we have to look through account statements asking, “Where did we spend that…?” And instead of living bountiful lives in service to God, we realize we aren’t using his blessings in the best way.
In this episode, we talk about how to misplace money, as a sort of “how to not” practice stewardship.

Financial matters matter because they can impact our soul. How do we handle the material blessings God provides to us? Do we handle them with love, joy, and peace? Do we use those blessings to be kind, good, and gentle? Do we manage our money with patience, faithfulness, and self-control? In this episode, we review each element of the fruit of the spirit and talk about ways we can honor God in our stewardship.

Episode Resources

• Bountiful episodes related to this topic:
  • “Should I Love Money Or Hate It?” https://thelightnetwork.tv/bountifuls14e1/
  • “Joy In All Financial Circumstances” https://thelightnetwork.tv/bountifuls14e2/
  • “Overcoming Financial Stress” https://thelightnetwork.tv/bountifuls14e3/
  • “Being Patient With Ourselves” https://thelightnetwork.tv/bountifuls14e5/
  • “There’s Always Room For Kindness” https://thelightnetwork.tv/bountifuls14e6/
  • “Living The Good Life” https://thelightnetwork.tv/bountifuls14e7/
  • “Is Money Something You Can Count On?” https://thelightnetwork.tv/bountifuls14e8/
  • “Gentleness And Money” https://thelightnetwork.tv/bountifuls14e9/
  • “Self-Control With Our Finances” https://thelightnetwork.tv/bountifuls14e10/

The word “complain” comes from the Latin meaning “to lament with excessive force.” While a lot of things in life are great, not everything in life is problem-free. If our minds are not set on the things of the Spirit, then we can slip into the attitude of “thankful stomachs and grumbling hearts”, meaning we focus on our fulfillment and self-satisfaction. However, if we live like our citizenship is in heaven, we will strive toward the attitude of “grumbling stomachs and thankful hearts”, meaning we thank God for our blessings even if life isn’t how we would like it to be.But is there a way to know whether we have grumbling hearts or thankful hearts? Do we complain more than we realize? In this episode, we will diagnose what complaining is, discuss its dangers, and then determine to think and act differently.

Episode Resources

• Thanksgiving 2022 episode: https://thelightnetwork.tv/bountifuls12e10/
• Thanksgiving 2021 episode: https://thelightnetwork.tv/bountifuls10e10/
• Thanksgiving 2018 episode: https://thelightnetwork.tv/bountifuls4e13/
• Thanksgiving 2017 episode: https://thelightnetwork.tv/bountifuls2e14/
• https://www.verywellmind.com/how-and-why-stop-complaining-3144882#:~:text=Complaints%20can%20be%20a%20signal,replacing%20them%20with%20positive%20ones.
• https://hackspirit.com/signs-youre-in-a-relationship-with-a-chronic-complainer/

It is easy to teach about the importance of self control. It is challenging to live with self control, especially in all aspects of our lives. In this episode, we discuss the importance of self-control with our income & with our expenses.

Episode Resources

• Bountiful episode “Is This Job Worth It?” https://thelightnetwork.tv/bountifuls5e3/
• https://www.apa.org/topics/personality/willpower-finances
• https://www.forbes.com/sites/brianboswell/2023/01/30/8-ways-to-take-control-of-your-spending-that-really-work/?sh=2cc080b55b2a
• https://hbr.org/2022/05/switching-jobs-heres-how-to-make-sure-you-wont-regret-it
• https://www.sofi.com/learn/content/getting-a-second-job/

Gentleness, while it’s one of the parts that make up the fruit of the Spirit in Galatians 5, is something that we sometimes dismiss. It can seem like a vague idea, compared to joy or self-control. However, God’s wisdom included “gentleness” (some versions use “meekness”) as something we should strive for in our lives, even our financial lives.In this episode, we discuss gentleness and how we can cultivate it as we grow in our stewardship of the Lord’s material possessions.Fun quote in our research: “We are all here on earth to help others. What on earth the others are here for I don’t know.” This is attributed to W.H Auden.

Episode Resources

• https://www.linkedin.com/pulse/treat-others-respect-matter-what-subhan-sharif/
• https://www.nytimes.com/2017/06/24/fashion/fear-of-failure.html#:~:text=“What%20we%27re%20trying%20to,out%20of%20the%20learning%20experience.