Category: Basic Money Management

Are you SAVING for the Future?

by timhowington, posted in Basic Money Management, saving, Stewardship

There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up. – Proverbs 21:20

Where do you spend most of your time focused on?  The past, the present or the future.  I used to hear a phrase that I always liked, “She is so heavenly focused that she is no earthly good.”  While we could all use a little more focused time on our future heavenly home, the future we are talking about today is a little closer than our trip over yonder.

With most of our clients, we usually try to discern if they are a Giver, a Spender, or a Saver.  While the Givers and Spenders tend to look at the present (with a view towards the future), our Savers are most definitely focused on the future.  They are concerned about being prepared down the road.

When it comes to savings, there are four key funds that we should be focused on- The Rainy-Day Fund, The Retirement Fund, The Recurring Expenses Fund, and The Really Really Want It Fund.  We need a savings strategy to get money into each of these funds.

Continue reading “Are you SAVING for the Future?” →

Are you Reaching your GIVING Goals?

by timhowington, posted in Basic Money Management, Generosity

Now this I say, he who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. Each one must do just as he has purposed in his heart, not grudgingly or under compulsion, for God loves a cheerful giver.  2 Corinthian 9:6-7

What are your Giving Goals?

At the end of the month or the end of the year how much money do you hope to have given away?  What about your lifetime?  What kind of impact do you hope to have made through your generosity?  A lot of people spend time thinking about how to maximize their time on earth and even how to use their God-given talents to make a difference in this world.  But what about your treasure that God has entrusted to you.  God does expect us to have an impact with our money (see the verse above).  It is interesting that He allows us to decide as to how we are going to participate in this manner. “Each one mustdo just as he has purposed in his heart, not grudgingly or under compulsion, for God loves a cheerful giver.”  He wants us to willingly, good-heartedly, and even cheerfully give towards His Kingdom.    

Your Family has Potential

We all have different family units. No matter whether you are single or married, a parent or childless, if you are a Christ-follower you are one of the change agents. No matter the shape of your family, you are part of the family of God and represent Him in the world. Each of our families are a testimony to what God can do. We are blessed so that we might be a blessing and point the way to Jesus. The Christian family is one of the most powerful entities in all the earth. We have the potential to be one of the greatest change agents for good in our world.

Continue reading “Are you Reaching your GIVING Goals?” →

Do You Have a Working Spending Plan (Budget)?

by timhowington, posted in Money, Stress, Budgeting, Basic Money Management

The plans of the diligent lead to profit as surely as haste leads to poverty- Proverbs 21:5

A few years ago, Gallup released a poll that said one in three Americans prepare a detailed household budget.  When you compare that with a similar stat that says that 70% of us are living paycheck to paycheck it is painfully obvious that most of us are flying blind.  Is it any surprise that the financial stress in our culture is palatable?

One of the key components of being well managed in your finances is to have a written working budget.  We say that not just because we like budget (though we do like budgets), but because year after year we sit down with families who are working through the consequence of not having a firm handle of where their money is going? Consequences like

  • Financial stress
  • Arguments with loved ones
  • Thwarted goals
  • Negative health issues
  • Fear
  • Anger with God
  • Frustration with Employers
  • Low self esteem
  • Confusion
Continue reading “Do You Have a Working Spending Plan (Budget)?” →

Are You a Generous Steward?

Featured by timhowington, posted in Basic Money Management, Budgeting

By Tim Howington

Every day, we have clients start a new financial journey where they are trying to sharpen their money skills so that they can reach the goals that they have set in front of themselves.  Sad is the day when you are unable to make progress towards the life that you feel God has for you.  Coincidentally, the area that holds many of us back is our personal finances.  Some of us are really good at managing our money and others of us stink.  Quick evaluation- on a scale from 1-10 how do you manage your money.

(I stink)  1 2 3 4 5 6 7 8 9 10  (I rock)

Continue reading “Are You a Generous Steward?” →

Online Class Invitation

by timhowington, posted in Basic Money Management, Budgeting, Coaching, The Simple Budget

create a simple budget- F51U- fbWe have created a short online class to talk through some key ideas about managing your personal finances.  The class is FREE.  Click here to register for the class and get more information.

Class Description– Gallup recently release a poll say that only 1 in 3 families have a working budget. Having coached families for 10 years now we have seen first hand the pressure that the lack of a plan brings. With so many people living paycheck to paycheck (70-80 percent). It is time to add some structure to the chaos. That is what this course is about. We will give a quick overview of key areas that will help you evaluate the way you manage your finances. And along the way help you become a generous manager.

The course is free but you can also sign up for a coaching session to talk through your Simple Budget for $100.  Enter this code for $50 off the coaching session- TSB50

Continue reading “Online Class Invitation” →

7 Financial Ideas for Weathering a Crisis- Intro

by timhowington, posted in Basic Money Management, Budgeting, Crisis

7 Financial ideas for a Crisis-cover fbCrisis come in all shapes and sizes.  As I write this, the whole world is experiencing the Coronavirus Pandemic.  We are all huddled at home watching the news trying to figure out when the government is going to give us the all clear.  In this particular crisis we are all struggling with the vulnerability of our health and our finances.

If you happen upon this article at a later time- the crisis you may be experiencing may not be as life altering as a pandemic, but a crisis is a crisis no matter the cause.

I assume that the reason that you are checking out this booklet is that you or someone you know is experiencing some kind of financial challenge.  The content contained here is very basic and is meant to be a quick reminder of how to manage your finances in a crisis.

Our ministry has coached hundreds of families through many difficult situations.  From sudden job loss, divorce, medical emergencies, transitions and the like. We find that there are few basic things that you need to be working through and evaluating.  That is the purpose and content of this study.  We want to help you work through 7 Financial Ideas for Weathering a Crisis.

We don’t know what kind of problem you are going through.  But we are sorry you are where you are, and we do hope that this exercise will be helpful.  If you would like to talk to a Freedom 5:one Financial Coach go to our website (www.freedom5one.com) and contact us.  We would love to help.

Click here to download this on our Financial Hotline.

Do You Have a Wonderful-Life Financial Plan?

by timhowington, posted in Basic Money Management, Budgeting, Planning/Evaluation, Spending Plan

its a wonderful life COLORWe all grow up dreaming of a Wonderful Life. Family and friends who love us. Good job. Nice house. Plenty of food. Enough money to take care of our needs and even some of our wants. When I got married one of my friends was asked to give us some marriage advice. His advice was classic. “Tim, give Terri everything she wants.” He added, “and Terri, only want what you need.” I can still remember his wife catcalling from the background about his bad advice. But, behind his playful banter was a principle. And the principle is this; for a family to be successful the family has to be on the same page and have a plan. Particularly in the area of money. Nothing will challenge a marriage more than how to manage the family resources. Continue reading “Do You Have a Wonderful-Life Financial Plan?” →

Jesus and Money

by timhowington, posted in Basic Money Management, Bible Study, Jesus and Money, Money Verses

the-king-and-his-money-cover-1Ever wonder what Jesus had to say about money?

Some say that He spoke as much about money as heaven or hell.  Ever wondered where the Bible verses are located regarding this topic?  We have taken the guess work out of it.  We have identified the key passages in the gospels where Jesus talks about money, uses money to illustrate something or where money intersects strongly with the topic at hand.  Click here to get the study!

Side note: Some of the parables about money are in more than one gospel, so we included it all. You can compare between them for your own edification!