The Solomon Foundation

I want to take a minute to tell you about my personal involvement and our church’s partnership with a new ministry called The Solomon Foundation (TSF).  The Solomon Foundation is based in Englewood, Colorado, a suburb of Denver.  In December 2010, I was invited to join some other leaders of Independent Christian Church mega-churches for a meeting to talk about the beginning of a new church extension fund.  From that time on, God opened doors for my involvement on the Board of Directors of this new extension fund, as well as our church’s involvement as a strategic partner.

Check out the website for The Solomon Foundation: www.thesolomonfoundation.org

The Solomon Foundation exists to provide financing for churches to help them grow to the next level in their ministry, thanks to the many individuals and churches that invest in one or more of TSF’s savings and investment plans.

What do you need to know about The Solomon Foundation?

-       TSF began with and will always have the oversight and accountability of two of the most dynamic churches in our “brotherhood” of churches (Crossroads Christian Church in Grand Prairie, TX, and Christ’s Church of the Valley in Peoria, AZ).

-       TSF is committed to core values that are simple, biblical, and inspirational: (1) Honor God, (2) Help people come to know Jesus Christ as their Lord and Savior, (3) Help investors get a great return on their investments, (4) Help churches get to the next level in their ministry, and (5) Have fun!

-       TSF has a board that consists of some of the most trusted and respected Christian leaders in America.  The board is a unique blend of some of the top pastors in America, along with other gifted leaders with ministry, finance, and business experience.  Check out these board members at www.thesolomonfoundation.org/board-of-directors.htm

-       TSF is committed to providing financing to churches to help them grow and move to the next level in their ministry.  TSF will only make loans to churches and will not make loans to any church that has not submitted a written plan for paying off the loan as expeditiously as possible.

-       TSF offers savings and investment rates that are beyond competitive with other financial organizations.  TSF is actually an industry leader.  Check out the current rates at www.thesolomonfoundation.org/rates.htm

-       TSF has a vision to partner with Christ in building the kingdom of God by helping churches get financing to purchase land and build facilities so that more people can come to know Jesus Christ.

I want you to know that I consider it a great privilege to be a member of the Board of Directors of The Solomon Foundation.  And I’m thankful that our church is a strategic partner of a ministry committed to excellent interest and eternal impact.

Jesus cares,

Pastor Chris

Rule One

Sometimes the best financial advice is the most simple.  That’s certainly the case when it comes to the single most important principle for good money management – spend less than you earn.  Every good thing you want to experience when it comes to your finances – getting out of debt, creating wealth, being generous – can be traced back to this one simple rule: spend less than you earn.  If you do everything else wrong, but do this one thing right, you can experience financial freedom.  In contrast to that, if you do everything else right, but get this one thing wrong, your finances will be a disaster.

Spending less than you earn is the only way to stay out of debt and the only way to build any lasting wealth.  It doesn’t matter if you make $10,000 a year or you win $10 million from the Hoosier Lottery, if you can’t discipline yourself to spend less than you earn, you will always be in a hole.  And it doesn’t matter how much money you make.  Everyone likes to think that if they only made more money, all of their financial problems would go away.  Not if you don’t spend less than you earn.

So how do you do it?  What’s the secret of spending less than you earn?  I can think of three things.

First, take the time to develop a spending plan (budget).  A spending plan (budget) is the best way to tell your money where you want it to go instead of wondering where it went.  Studies show that people who do not live by a spending plan (budget) consistently spend more money than those who do.  Proverbs 21:20 says, In the house of the wise are stores of choice food and oil, but a foolish man devours all he has  (NIV).

Second, eliminate the temptation to spend.  Do whatever you have to do.  Cut up credit cards, stay away from the mall, put away your computer, whatever you have to do.  Romans 13:14 says, Rather, clothe yourselves with the Lord Jesus Christ, and do not think about how to gratify the desires of the sinful nature (NIV). Do whatever it takes.

Third, learn to be content.  I Timothy 6:6 says, But godliness with contentment is great gain (NIV). What would happen if we spent as much time pursuing godliness as we do pursuing “things?”

One of the fundamental rules of life that I always try to remember is, “don’t make it harder than it has to be.”  This certainly applies to your finances.  Spend less than you earn.  Spend less than you earn.  Spend less than you earn.  Spend less than you earn.

Jesus cares,

Pastor Chris

Materialism

This past weekend we talked about the divine cycle associated with sowing and reaping.  We give (sow) and God gives back to us (reaping) so that we can give even more (sow again).  That’s God’s expectation, according to Paul in 2 Corinthians 9:10-11.  The problem is, our natural inclination is the more we receive (reap), the more we consume for ourselves.  One of the ways we can avoid our natural inclination and live up to God’s expectation is to do all we can to avoid materialism.  Let me give you four reasons from the Book of Ecclesiastes why materialism is a dangerous thing.

1. Materialism causes you to think that you never have enough. Ecclesiastes 5:10a says, Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income (NIV, 1984). We all know intellectually that money can’t buy happiness, but many of us think that we could be the one exception to that rule. We think that money might not buy happiness for everyone else, but it could buy happiness for me.

Here’s one of the most common and most dangerous lies that we believe. “If I had just a little bit more, I’d be happy…just a little bit more.” Orange County in Southern California is one of the most affluent counties in America.  Yet a few years ago, when the residents were surveyed with the question, “What do you need most?” the number one answer was, “I need more money.” If we were to ask this question in our community, the answer would likely be the same. Yet when we compare our standard of living with the rest of the world, we find that we have comforts and luxuries most people only dream of. Materialism makes you think you need more, no matter how much you already have.

2. Materialism causes you to make bad decisions. Ecclesiastes 5:13-14 says, There is another serious problem I have seen in the world. Riches are sometimes hoarded to the harm of the saver, or they are put into risky investments that turn sour, and everything is lost (NLT).

Anyone who has invested money has lost money at some point in time. It’s part of the process. If we’re honest, however, we would have to admit that oftentimes those shaky investments were motivated by greed. Have you ever noticed that con men don’t promise you a 12% return on your money? They always offer 300% in the next 90 days — or something like that. That’s how they get takers. And that’s why someone came up with the saying, “A fool and his money are soon parted.”

Greed doesn’t just cause you to make bad investment decisions. It causes you to make spending bad decisions, too. It causes you to want things you shouldn’t have. 1 Timothy 6:9 says, But people who long to be rich fall into temptation and are trapped by many foolish and harmful desires that plunge them into ruin and destruction (NLT).

3. Materialism causes you to think primarily of yourself. Greed in its ugliest form causes us to think only of ourselves, with no thought at all to those around us in need. Ecclesiastes 5:8-9 says, Don’t be surprised if you see a poor person being oppressed by the powerful and if justice is being miscarried throughout the land! … Even the king milks the land for his own profit! (NLT)

These words are a sharp contrast to the words of the Apostle John in I John 3:17. If someone has enough money to live well and sees a brother or sister in need but shows no compassion — how can God’s love be in that person? (NLT)

4. Materialism causes a lot of pain. Ecclesiastes 5:12 says, The rich are always worrying and seldom get a good night’s sleep. Why are the rich always worrying? Because too often we’re leveraged to the hilt. It’s a simple fact that the more money you make, the more likely you are to live a little beyond your means. Even living at the extent of your means is stressful — especially when it comes to putting yourself in debt.

This is why Paul wrote in I Timothy 6:10, … And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows (NLT).

One of the main ways materialism causes pain is that it leads people into debt. For most people, debt is an annoying inconvenience. But for others (maybe you), debt has turned their lives into a nightmare, and almost every dollar they earn today is already spoken for, because of unwise purchases from the past. I’m not writing this to make you to feel guilty; I’m writing this because I want to be clear about the danger of debt.

We overcome materialism when we learn to be content.  We learn to be content by making the choice to be content, by being willing to embrace a simple lifestyle, and by being willing to give.  Nothing breaks the power of money (materialism) in our lives faster than giving it away.

Tithing

This weekend (February 19th/20th), we will conclude our current series “The Good Steward” by talking about understanding generosity from a biblical perspective.  And like we’ve done for the past three years, I will issue a challenge to all our members to demonstrate generosity by making a commitment to begin to tithe/continue to tithe or begin to give above the tithe/continue to give above the tithe.

Every year when we issue this challenge, the same question is always raised.  “Is tithing for the New Testament believer?”  Let me answer that question.

First, I don’t believe in tithing because I believe that we, as New Testament Christians, are somehow obligated to follow the Old Testament law.  It’s true that the tithe was a part of God’s plan for His people in the Old Testament under the old covenant.  The most common scripture referenced for the tithe is Malachi 3:10 where we read, Bring the whole tithe into the storehouse, that there may be food in my house…  (NIV) But the tithe is also referenced in the New Testament.  In Matthew 23:23, Jesus talks to the Pharisees, condemning them for tithing to the penny but neglecting the more important issues of justice, mercy, and faith.  He goes on to tell them that they should practice justice, mercy, and faith without neglecting the tithe.  The truth is, many practices in the Old Testament don’t make sense for us today, and yet many of them carry over to the New Testament law of grace as part of God’s promise to not abolish the law, but to fulfill it (Matthew 5:17).  For instance, we no longer sacrifice animals, but as Christians we offer ourselves as living sacrifices (Romans 12:1).  Men are no longer required to be circumcised as a sign of belonging to God, but as Christians we experience the circumcision of the heart through the Holy Spirit (Romans 2:29).  Most of us don’t have grain and produce to bring into the storehouse (Malachi 3:10-12), but we do have incomes, and we can bring the first tenth into the church.  In other words, just because something is written in the Old Testament doesn’t mean it lacks application to us today in some way or another.

Second, because I believe in tithing as the standard…even the starting place for giving…doesn’t mean that I believe that it’s a percentage that is “mandatory” or “required,” as if it’s something that creates bondage in our lives.  This is a common reason so many people reject the tithe today…they see it as bondage.  I believe in the tithe as an “eternal standard” that demonstrates the truth that God has first place in our finances.  The Old Testament records Abraham offering a tithe to Melchizedek (Genesis 14:18-20), who many Bible scholars believe was a pre-manifestation of Jesus, of all he had gained in battle.  This was hundreds of years before the Old Testament law was in place.  In Genesis 28:20-22, Jacob made a vow to give a tithe of everything God blessed him with back to God.  Now, if you know the entire story, you know Jacob’s motivation was a little shaky.  But it’s interesting that when it came to giving back to God, the standard he chose was a tithe, or 10[PME1] %. Again, this was hundreds of years before the law was in place.  From the very beginning, tithing was the standard for giving to God.  So the standard of the tithe (giving 10%) was in place long before the law commanded it.  Here’s a good question.  Do God’s standards keep us in bondage?  God’s standard for personal relationships is to love one another; God’s standard for sex is that it should only be experienced within the relationship of marriage; God’s standard for giving is the tithe.  I believe God’s standards are in place to protect and to bless.  We are not saved by works, and no amount of money will get you into heaven, just like failing to give, on its own, will not keep you out of heaven.  Some church leaders may try to coerce or guilt people into giving a tithe.  That’s not my motivation.  My desire is to share God’s truth in a way that leads to blessing.

Third, giving less than a tithe is inconsistent with Jesus’ call to a higher standard of righteousness.  I don’t think there can be any argument about the fact that when Jesus came into the world, He continually called God’s people to a higher standard of spiritual life and commitment than what they were currently practicing (look back at Matthew 23:23).  Given this reality, how can we believe that Jesus expects any less than the giving of the tithe, the eternal standard for giving, as New Testament Christians today?

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The Voice of Experience

When Leonard McCracken of Florida was 99 years old, he failed the eye test for renewing his driver’s license.  What did he do?  He went home, put a For Sale sign on his Lincoln Continental, and sold it three days later for $1600.  That was eight years ago, and McCracken had already been living in retirement for 30 years. Today he’s 107 and continuing to enjoy his retirement while living on savings, Social Security, and a lifetime annuity that he purchased before he retired.  He’s still paying the bills and getting by on his own resources.  Leonard’s son, Bob, a 73-year-old retired GE aircraft engineer, says, “Dad never made more than $10,000 a year in his life.”  And yet here he is, paying his own way.

All this begs the question, “How does a guy with a modest income manage such a retirement feat?”  McCracken points to a half-dozen basic principles that have gotten him through life and continue to serve him well.

1.    Thrift

In his whole life, McCracken says he has only owned two new cars.  The rest of the time he bought used.  He still shops at thrift stores.  He remembers the time his wife left him in charge of a garage sale.  When she returned, he had sold the living room sofa for $100.  “I had a very understanding, frugal wife” (Dorothy, who died in 2002 at 95 after 75 years of marriage).  “We gave up a lot of things that other people were buying in order to break even.”

2.    Real Estate Investments

McCracken bought and sold 35 houses in his life, including five that he built himself.  “Buying and selling real estate was a smart move.  We didn’t make a lot of money in every case, but we made something that helped.”

3.    Use Debt Well

During the Great Depression, McCracken worked for a bank.  He watched people lose their shirts and learned from it.  Through his life, he borrowed when he had to, but he borrowed as little as possible and paid it back as quickly as he could.

4.    Work Even When Jobs Are Hard To Find

McCracken was unemployed about 45 years ago after his employer went bankrupt.  He took a job driving a truck that paid $5 a day.  It was a low point in his life but between that and a commission sales job he took at night, he and his family made it through.  NOTE: Imagine that, doing whatever it takes to pay your bills and support your family.

5.    Save And Invest Conservatively

All of McCracken’s money is in CDs and bonds.  He always avoided the stock market, even when people who purported to know more than he advised him differently.  “When the economy tanked, he made a lot of us look silly,” Bob McCracken says.

6.    Stay Healthy

McCracken has hung onto his health and his wits and has had no major medical bills at all throughout his entire life.  It’s only been in the last year that he’s needed a little assistance.  And even then, he doesn’t need much, his son says.

Now, I’m not suggesting that these are the perfect rules for everyone to follow when it comes to money, but a life this well-lived deserved to be listened to.  Leonard McCracken’s story reminds me of these words from Proverbs 6:6-8.  Go to the ant, sluggard; consider her ways and be wise; who, having no guide, overseer, or ruler, provides her food in the summer and gathers her food in the harvest.  (NIV) There’s a lot to be said for hard work and sound advice.  The only thing I would add to Leonard’s six rules is, “Be generous.”

Jesus cares,

Pastor Chris

Gaining Through Giving

Proverbs 11:24-25 says, One man gives freely, yet gains even more; another withholds unduly, but comes to poverty.  A generous man will prosper; whoever refreshes others will be refreshed.  (NIV)

I’ll be the first to admit that by worldly standards, it doesn’t make any sense.  How can you gain by giving?  But it’s a spiritual paradox that has proven itself over and over again.  And it’s not something that’s found just in the Old Testament.  Jesus said in Luke 6:38, “Give, and it will be given to you.  A good measure, pressed down, shaken together and running over, will be poured into your lap.  For with the measure you use, it will be measured to you” (NIV). It might sound crazy, but the Bible very clearly teaches us that giving results in gaining.

But if you think that sounds crazy, then get this.  While the Bible teaches us that we give to gain, gaining is not the sole purpose for our giving.  We give because the Bible commands us to give.  We give as a demonstration of our stewardship (management) of what God has entrusted to us.  We give because, as Paul points out in Acts 20:35b, Jesus himself said, It is more blessed to give than to receive (NIV).  We give to demonstrate that God has first place in our lives.  We give to break the power of money in our lives.  We give out of thankfulness for all that God has given to us.  We give so that God can use us to meet the needs of others.  We give to demonstrate our trust in and dependence on God.

The person who gives solely for the purpose of gaining…believing that a gift of a certain amount will automatically result in a return of a greater amount … is not giving from the right heart.  The Bible promises us that when we give we gain, but God alone determines what that “gain” will be and how it will come into our lives.  It might come back to us in the form of some kind of financial blessing, but God knows that there are greater blessings to receive than more money in your pocket.  And we can know that the blessing (the gain) that comes back to us, whatever it might be, is exactly what we need the most.

My counsel to you is to remember that the Bible teaches that a generous man will prosper.  Let God bring prosperity, whatever that might be, into your life by being a generous giver.

Jesus cares,

Pastor Chris

 

By the Inch it’s a Cinch

According to Time magazine’s article “One Day in America” (November 26, 2007), each day Americans buy an average of…

-       3,972,603 movie tickets

-       1,683,835 songs and albums from online resources

-       1,650,000 DVD rentals from Netflix

-       978,030 bags of Orville Redenbacher’s Gourmet popcorn

-       568,764 Titleist golf balls (I think I play with the guys who do this)

-       443,650 large fries at Burger King

-       160,968 bottles of Absolut vodka

-       7,500 Samsung LCD TVs

-       60 Ford Mustangs on eBay

One of the things that I learned a long time ago is that some of the most significant counsel about handling money is also the simplest.  For example, “Spend less than you earn and save the difference.”  Over the years, however, I have talked to many people who are convinced that this simply isn’t possible.  The problem is that we don’t take into account the little everyday purchases that all of us make. (Some of them can be found in the above list.)  The truth is, we all do it…we all spend $2 here and $4 there without even giving it much thought.  But what would happen if we could see how those little expenses added up over the course of time?  Or better yet, what would happen if we could see what would happen if we took those little expenses and invested them?

In a recent article from Yahoo Finance called “6 Little Things That Cost a Lot,” Kathy Kristof gives an example of the trade-offs we make when we don’t look at the long-term costs of day-to-day expenses.  The information below assumes that you could have saved this money and invested it with an 8% rate of return.

Expense………….Today…………Over 10 Years…Over 30 Years

Pizza delivery………$25 a week……..$18,661……………..$158,731

Coffee/donut………$4 a day………….$22,389………….…$190,453

Smoking…………….$35 a week………$26,125…………….$222,223

Manicure…………….$40 a week…..…$29,857……….….$253,969

Lunch @ work……..$10 a day*………$37,322………….…$317,462

*work days only

I look at the above chart and immediately think of the words of Proverbs 13:11.  Dishonest money dwindles away, but he who gathers money little by little makes it grow  (NIV). Many people don’t save money today because they are convinced they don’t have any to save.  Yet that’s usually not the case for  us.  Saving money is boring, and it sometimes requires us to make little sacrifices, but it’s possible for anyone.  I’ve got a friend who describes saving money like this: “By the inch it’s a cinch, by the yard it’s hard.”

Keep a record of everything you purchase over the course of a week or a month.  I think you’ll be surprised at how much money you could be saving with very little effort.

Jesus cares,

Pastor Chris

NOTE: A great resource for this is the book The Automatic Millionaire by David Bach.  Pick up the book and check out what he calls “The Latte Factor.”