The Leadership Stack Podcast

Ep 337: Is it Wrong to Have More Money?


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Sean: What is a simple rule for managing your finances?

Randell: Well, number one, simple rule, I've been married for more than 30 years. My wife told me, "What is yours is mine and what's mine is mine." That's the rule. That's the only rule I live by. know this man is in that role as the only rule. I live by it.

I guess for me, number one is I respect money. I know money is more and everything, but I respect money. I know it's a limitation and I also need to manage my behavior around it. I heard this from Marvin, that it's not wrong for you to have money, what is wrong is for money to have you. So money for me is just a great tool, but not the end goal. That's very clear on my end.

My rule is number one, and this is just me sharing it, automatically, I tight. This is a value system that I'm not going to debate whether it should be tight or not, but this is something that my wife and I believe in and practice and stand by it. So we tight. Next is, we save. We have to provide for the family's needs. That's clear, but you also save. So apart from providing, you're also saving. That saving will lead to investing. And also we give.

A big part of our income is used to support missionaries, campus missionaries, and long-term missionaries in the advancement of God's kingdom. This is on top of our tights. And my joke is, the amount of money we support can also provide for another family. It's sort of like that because that's our value system and that's why I work.

During the pandemic, Sean, of course, when March hit, I was like, "What are we going to do?" As all of us are not salary people and then we're giving salaries. So I said, "What are we going to do? How long will this last? Do I need to liquidate? Do I sell something? How much money do I have?"

And then one of the things that bothered me in a good way is that you know I support a lot of these missionaries and give money to those things. What's going to happen to them? They are dependent on what we give them. I mean not just me but collectively. So if I stop and everybody stops, what will happen to them?

So I made this prayer, "Lord, can you continue to give me work so that I can continue to support them?" And the Lord was so gracious. I never stopped working and I think I got busier. I never stopped working and not only did I not continue supporting, I added even more last year. I think this year I also added some. Do you get what I mean?

I even have increased my support to some of them because I feel inflation and everything and I'm assuming that some people were not able to support them, so I have to level up a little bit.

Sean: Wow, that's amazing. That's a very encouraging thing to share here.

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The Leadership Stack PodcastBy Sean Si

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