In today's financially unpredictable world, security and stability are goals every Christian desires. Many struggle to make ends meet, living paycheck to paycheck and often falling prey to debt and financial stress. Almost always, the root causes are physical as well as spiritual. Fortunately, there's a solution that can help us overcome these financially related struggles and transform our financial life - budgeting. In this article, we'll explore five ways a budget can make your life easier rather than harder.

__The Secret to Successful Budgeting__

If budgeting only required simple math, every person would do it and be an expert. But because spending decisions often involve our emotions and desires, the success of our budgeting depends on two crucial principles.

__1. God's Ownership__

As Christians, we understand that everything we have belongs to God, and we are merely stewards of His resources (Psalm 24:1, 1 Corinthians 4:2). Budgeting helps us align our financial decisions with this biblical truth. When we acknowledge God's ownership, we become more conscious of how we use our money, and we'll seek to honor Him with every financial decision we make.

__2. Practicing Contentment__

The Bible emphasizes contentment and warns against the love of money and an unhealthy desire for material possessions (1 Timothy 6:6-10, Hebrews 13:5). Budgeting enables us to prioritize needs over wants and avoid overspending as we learn to be content.


When we operate by these two principles, acknowledging that God is our source and joyfully accepting and managing what He gives us, budgeting becomes a desired and welcomed tool to direct our stewardship.

__5 Ways A Budget Will Make Your Life Easier, Not Harder__

__1. Being Financially Aware__

The first step towards building a more secure and stable financial future is becoming aware of your spending. A budget provides you with a clear view of your income and expenses. Tracking your spending will identify unnecessary expenses to help you focus on assigning your money to things that truly matter.

The biggest problem I've seen in people's personal finances is a lack of tracking and recording what they make and spend. __When you aren't intimately aware of what you make and spend, every financial decision is a step down into a deeper financial hole.__ A proper budget will keep you informed so you can make wise decisions and prepare you for the inevitable financial challenges ahead.

__2. Reducing Financial Stress__

Financial stress is a common source of anxiety and depression for many individuals and a significant source of discord among couples. Adopting a budget can significantly alleviate these issues. With a budget in place, you can confidently manage your expenses and prioritize financial responsibilities, reducing the fear of falling into a debt trap.

__3. Having an Emergency Fund__

Life is full of unexpected events that can disrupt your financial stability. Whether it's a medical emergency or an unforeseen job loss, having an emergency fund can be a lifesaver. __A budget allows you to allocate some of your income towards building an emergency fund, ensuring you have a safety net when the unexpected occurs.__

__4. Improved Decision-Making__

Budgeting fosters a disciplined approach to financial management, leading to smarter decision-making. When you know exactly how much money is available for each budget category, you can make wise choices, avoid impulsive buying, and ensure your financial goals are fulfilled.

__5. Eliminating Debt__

One of the most significant benefits of budgeting is its potential to help you pay off debts faster. __A budget helps you to identify and allocate extra funds towards debt repayment, helping you become debt-free.__ Reducing the burden of debt not only frees up your financial resources but also removes the emotional stress and anxiety that comes with the burden of debt.

__Bonus - Strengthening Relationships__

Financial stress can often take a toll on relationships, leading to conflicts and misunderstandings. __With a budget in place, couples can be on the same page about their financial goals and priorities.__ It facilitates open communication about money matters, strengthening their bond and promoting a healthier relationship.

__Conclusion__

For Christians, budgeting is more than just a financial tool; it is a way of honoring God with their finances and living out biblical principles in their daily lives. Adopting a budget will make your life easier, not harder. It will empower you to take control of your finances, leading to financial awareness, reduced stress, improved decision-making, and much more.

Budgeting is not about living a meager and joyless life. It's about making conscious choices that align with your priorities and beliefs and lead to a fulfilling and enjoyable life. So, why wait? Start budgeting today and witness the transformative power it brings to your physical and spiritual life.

__For Further Reading__

[Seven Reasons to Offer Estate Planning at your Church](https://www.faithfi.com/sound-mind-investing/seven-reasons-to-offer-estate-planning-at-your-church-5745)
[Unconventional Ways Churches Can Inspire Generosity ](https://www.faithfi.com/christian-stewardship-network/unconventional-ways-churches-can-inspire-generosity-5744)
[Biblical Financial Principles and 5 Practical Steps to Live by Them](https://www.faithfi.com/christian-stewardship-network/biblical-financial-principles-and-5-practical-steps-to-live-by-them-5661)
[The Importance of Financial Habits](https://www.faithfi.com/christian-stewardship-network/the-importance-of-financial-habits-5660)
[What Does it Really Mean to Be Generous](https://www.faithfi.com/christian-stewardship-network/what-does-it-really-mean-to-be-generous-5548)

. . .

*If you're a pastor or spiritual leader, consider joining our CSN community. We are a group of passionate Christ-followers with a burden to teach and equip God's people with God's financial principles so they can live purpose-filled and generous lives. [Sign up for our mailing list](https://mailchi.mp/christianstewardshipnetwork.com/signup) to get new content from CSN directly to your inbox!*

We teach church leaders the biblical perspective on finances.

Christian Stewardship Network

Blog

There's a solution that can help us overcome these financially related struggles and transform our financial life.

5 Ways Budgeting Makes Your Life Easier, Not Harder

__As stewards of God’s resources, we regularly try to evaluate the best options for our money. Due to today's inflation, keeping significant amounts of money in traditional checking and savings accounts can decrease its value over time. For this reason, many are turning to high-yield savings accounts for better protection against inflation.__

__What is a high-yield savings account?__

High-yield savings accounts function like traditional savings accounts. They are usually offered by financial institutions, and money can be stored in them for short- or long-term financial goals. Like traditional savings accounts, the money is easy to access. Also, like traditional savings accounts, monthly withdrawals are limited by the government.

__What sets high-yield savings accounts apart?__

Where a high-yield savings account differs from a traditional savings account is the interest rates. The interest rate is variable, meaning it can go up or down. Currently, traditional savings accounts provide very little interest for deposits. Often, the interest rate is below 1%. High-yield savings accounts typically offer a much higher rate than traditional savings accounts. As of this writing, interest rates in some high-yield savings accounts are approaching 5%. Needless to say, the gap is significant.

While the higher interest rate does not always fully cover inflation, it can reduce inflation’s impact on the money held in a high-yield savings account. The higher interest rate can also increase the power of compounding, making money off your money. Traditional savings accounts do very little to help with compounding.

*While the higher interest rate does not always fully cover inflation, it can reduce inflation’s impact on the money held in a high-yield savings account.*

__How are financial institutions able to offer high-yield savings accounts?__

Banks and other financial institutions can provide higher rates for these accounts for two primary reasons: higher minimum balance requirements and lower overhead. Financial institutions make money off your deposits. Therefore, they will offer rates to customers who will deposit larger amounts of money. This is why high-yield savings accounts typically have a higher minimum balance than traditional savings accounts. It ensures they are enticing customers who can maintain larger balances.

High-yield savings accounts usually have lower overhead due to their online-only presence. This is not to say a person cannot find a high-yield savings account through their traditional bank, but most of these accounts are found with institutions that have a heavy digital, rather than physical, presence.

__Are high-yield savings accounts insured by the FDIC?__

The FDIC (Federal Deposit Insurance Corporation) insures deposits in member banks up to $250,000 per depositor, per insured bank. This means that your savings would still be protected up to the insured limit if the financial institution were to fail. FDIC insurance should be a significant factor when choosing where to store money. Fortunately, most high-yield savings accounts are insured by the FDIC. However, it is wise to make sure an account is insured before depositing any money into it.

High-yield savings accounts can be a great place to store money for future purposes. But before you deposit money into a high-yield savings account, make sure you know the minimum balance requirements and any restrictions related to the account. You don't want fees to eat away at the potential higher return.

__[Image](https://www.christianmoneysolutions.com/post/what-is-a-high-yield-savings-account)__ used with permission

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

Christian Money Solutions

Savings

Due to today's inflation, there are other, potentially better options than traditional checking & savings accounts.

What is a High Yield Savings Account?

__At Eventide, we use a framework called [Business 360](https://www.eventideinvestments.com/business-360/)® to assess whether a company is benefitting its six primary stakeholders: customers, employees, suppliers, host communities, the environment, and society at large.__

Over and over again, we have seen ways that serving these stakeholders effectively contributes to a company’s financial success, which serves shareholders.

__Us versus them: A pie-splitting mentality__

Dr. Alex Edmans describes this as a “pie-growing” approach, and distinguishes it from a “pie-splitting” mindset in his book, [Grow the Pie](https://www.growthepie.net/) 1:


![](https://www.eventideinvestments.com/wp-content/uploads/2023/05/Untitled-design-26-e1684346272893.png)

Source: [https://www.growthepie.net/](https://www.growthepie.net/)

*Edmans, A. (2020). Grow the Pie. In Grow the Pie: How Great Companies Deliver Both Purpose and Profit (p. I). Cambridge: Cambridge University Press.*

*This mentality views the pie as being fixed in size. Then, the only way to increase one member’s share of the pie is to split it differently by reducing the shares of others. These other members are your rivals, whom you fight to grab as much of the pie as possible. 1*

As one example, in 2017, when American Airlines decided to close the pay gap between their own employees and those at competitors United and Delta, one Wall Street analyst [famously wrote](https://www.vox.com/new-money/2017/4/29/15471634/american-airlines-raise), “This is frustrating. Labor is being paid first again. Shareholders get leftovers.” 2

The pie-splitting view sees a business’s stakeholders as cost centers to be minimized and the amount of potential profit at a company as being a zero-sum game.

But we at Eventide think that what is *underappreciated* is the impact that stakeholders have back onto the business and its financial success. In other words, we believe that serving your customers, employees, and other “neighbors” is a great way to grow the pie.

__Growing the pie: A better source of alpha__

Dr. Edmans’s research puts some numbers to that. He conducted a study to see if a “pie-growing” mentality in how a company treats its workers can lead to better returns for investors.

Analyzing data spanning 28 years, the researcher relied on the Great Place to Work Institute’s list of the top 100 companies that prioritize their employees’ well-being. He accounted for different variables and compared these leading companies to others of similar size in the same industry.

The results showed that these “100 Best Companies to Work for in America” outperformed their competitors by __2.3% to 3.8% annually__ over the 28-year period (resulting in compounded returns of 89% to 184%). 3

Moreover, they exceeded analysts’ expectations in terms of future profits. This is important because investing is by its nature forward-looking: what investors pay for a company’s stock today is based on their *expectation* of how a company will do financially in the future. Investors that choose companies whose financial success turns out to be higher than others in the market expected have effectively purchased the stock “on-sale” and gotten a better value for their investment dollars. That means those investors received not only the “market returns” they could have received from comparable investments but also “[alpha](https://www.investopedia.com/terms/a/alpha.asp),” or returns in excess of an investing benchmark. 4

__How can being a great place to work generate investment returns?__

But how is this possible, especially when some ways of creating a great place to work—like better pay and benefits; or employee programming, education, and other perks—cost a company money? We think the answer has to do with the value of tangible and intangible assets. Fifty years ago, most of the market value of the companies that made up the S&P 500 was accounted for by their tangible assets—things like inventory, warehouses, and cash in the bank. Today, the vast majority is accounted for by intangible assets, or the value of things like intellectual property and copyrights, or brand value.

__Intangible assets now comprise the majority of firm value__


![](https://www.eventideinvestments.com/wp-content/uploads/2023/05/Screen-Shot-2023-05-17-at-12.41.05-PM.png)

*Source: Ocean Tomo, LLC, “Intangible Asset Value Study”, 2020 An intangible asset is an asset that lacks physical substance and usually is very hard to evaluate. It includes patents, copyrights, franchises, goodwill, trademarks, trade names. There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses. The chart above is for informational purposes only. Past performance is not assurance of future results.*

Clearly, intangible assets are much harder to analyze and price, which is where we believe our Business 360® framework gives us an edge. By thinking through how companies are partnering with, benefitting, or even blessing and delighting their stakeholders, we are able to develop a differentiated view of the company’s intrinsic value.

Edmans appears to agree. In the [original research](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=985735) he draws the conclusion, “[T]he stock market does not fully value intangibles, even when independently verified by a highly public survey on large firms.” 3

__Does this mean values-based investing makes more money?__

Sometimes. There are as many approaches to values-based investing as there are values-based investors. At Eventide, caring about human flourishing, and valuing every human, are core values that drive our research process and help us understand how different stakeholders experience a business. We believe that understanding gives us a distinct advantage in our investments, allowing us to both serve our clients, and to invest in companies that create compelling value for the global common good.

*This communication is provided for informational purposes only and expresses views of Eventide Asset Management, LLC (“Eventide”), an investment adviser. There is no guarantee that any investment strategy will achieve its objectives, generate profits, or avoid losses. Eventide’s values-based approach to investing may not produce desired results and could result in underperformance compared with other investments. Any reference to Eventide’s Business 360® approach is provided for illustrative purposes only and indicates a general framework of guiding principles that inform Eventide’s overall research process. Investing involves risk including the possible loss of principal. Past performance does not guarantee future results.*

*[Images](https://www.eventideinvestments.com/wp-content/uploads/2023/05/Untitled-design-26-e1684346272893.png) used with permission. *

Eventide

Insights

Being a great place to work may help a company make more money for shareholders.

How to Grow the Pie

__Jesus was a busy person, yet the Gospels reveal he had incredibly strong relationships. As Christians, we may not realize how unusual it is in religion for a deity to befriend humans, but this is the invitation of the Son of God – not only to cover our sins, but to know us and allow us to be known by him. Second only to offering himself on the cross, isn’t this offer of relationship with him the greatest act of generosity ever? The answer may be in plain sight, in an old story you’ve probably heard before.__

__Becoming known__

The women didn’t associate with her, or she didn’t associate with them. Who knew, by this point, who had separated from whom. It had been a long time. That’s why she was out with her water jug when the sun was at its highest point in the sky.

Walking in the heat of the day, she didn’t have to be concerned about how anyone looked at her or what they might call her. She didn’t have to endure their silence when they should have been offering her a greeting. At this time of day, she’d be alone and wouldn’t have to be reminded of her shame.

Except, when she got there, she wasn’t alone. Jesus was there, sitting, exhausted, no disciples in sight. *“Will you give me a drink?”* he asked her.

*“How is it that you, a Jew, ask for a drink from me, a woman of Samaria?”* she asked. It was almost certain in Samaria that you would not encounter a rabbi. Serious Jews did not come through Samaria (even though the only direct route between Judea and Galilee ran right through it), and if they did, they certainly didn’t start conversations with Samaritans. The dislike and distrust between them ran centuries deep.

As he did – so many times with so many people – Jesus said something perplexing, something she wasn’t expecting that forced her to think:

*“If you knew the gift of God and who it is that asks you for a drink, you would have asked him and he would have given you living water.”*

She was doing chores under the hot Samaritan sun; it wasn’t really a good time for thinking metaphorically. What was Jesus asking her? What must she have thought? She bristled a little.

He doesn’t have a jug. He doesn’t know how deep this water source is. He’s saying his water is better than the water I get from our well. Who does he think he is?

*“Are you greater than our father Jacob, who gave us the well and drank from it himself?”*

(The simple answer, we know, is [“Yes, he is.”](https://www.thegospelcoalition.org/article/jesus-is-better/) The writer of Hebrews lays out how [Jesus is better than everything](https://overviewbible.com/hebrews/). And he was the only one great enough to bear the weight of her hope, and ours.)

But if you read the rest of the story, you see it wasn’t just who he was that made this woman leave rejoicing, even though he told her he was the Messiah. There was something else.

Later, she would mention it when she told everyone she could find. *“Come, see a man who told me everything I ever did,”* she said to the same people who used to make her feel ashamed. *“Could this be the Messiah?”* (John 4:29).

Who didn’t know what she’d done? Who hadn’t heard the gossip? Her shame was no secret. But she’d never run like this before, never spoken to so many people in one day. Why was the fact that Jesus knew what she had done so special?

For years, she had been known and rejected by her own people. Where she lived, they knew her sins, and no one wanted anything to do with her. Jesus knew everything about her, too.

*“Go call your husband,”* he said.

*“I have no husband,”* she answered.

*“You are right,”* he said. And then came all the details – her whole life of sin exposed under the hot Samaritan sun. And yet … there was no shame. He didn’t call her names or tell her how she should feel about herself. He didn’t punish or berate or proposition her. He just told her the truth about herself and remained. She’d known a lot of men, but this one was very different.

He knew her, all the ugly stuff. But he didn’t shame her or walk away. Instead, he offered himself to her, so she could know him, too. He gave her knowledge of himself even the disciples didn’t have yet. He taught her who he was the same way he had often taught them. Through a gentle, but firm, question-and answer-session, he led her to the fact that she was talking with the Messiah.

*“I know that Messiah is coming,”* she said.

*“I who speak to you am he,”* he answered.

Who else had ever heard this? Intimate knowledge of Jesus, knowledge so great, so profound that the rulers of Judea would later try to beat it out of him. Knowledge that would change lives of millions for millennia to come. And this one unknown, sinful, lonely woman would be the person he chose to reveal this to first?

*For God so loved the world that he gave his only begotten Son that*  __whosoever__ *believes in him ….*

__The sinful Samaritan and Sychar__

Why would Jesus come to this town, Sychar, the capital of Samaria? Why would Jesus come to this person, a woman, and a terribly sinful one? God sees individuals, but he is also, always, working to redeem peoples and places. Through this one woman, a representative of history, God would begin the work of redeeming an entire people group.

Sychar was likely not the original name of the area where Jesus sat and talked with this woman in Samaria. When Jacob had dug this well, [many scholars agree](https://www.bibleplaces.com/shechem/), it was called Shechem. The city of Shechem was a place of promise and of worship (Genesis 12:7, 33:16-20). It was where God had promised to give the land to a people – Abraham’s descendants – who would belong to God. Through an offspring from among those people, the promise went, the whole earth would be blessed (Genesis 12, 22, 26).

Centuries later, descendants of that promise would rebel against God (at Shechem) and establish their own nation, creating a syncretistic mix of worship according to God’s law and the idol worship of the people who lived in the surrounding nations. (1 Kings 12 tells the story of the division.)

Now, here was Jesus – the descendant of the promise, the offspring who would bless the whole world – sitting with a descendant of that rebellion, telling her that true religion was not found on the mountain her people called holy (Mt. Gerizim), but in *him*, the source of life, the Messiah.

The beginning of John 4 says Jesus *“had to pass through Samaria.”* Why? Because in Samaria lived a whole group of people who would be lost to idol worship, lost to history and eternity, if he did not go and redeem them. This seemingly insignificant person he spoke with, a sinful woman among a sinful people, became the first in the nation (the first ever) to hear from Messiah himself that he had come.

No wonder she didn’t care what anyone else thought as she spread the word. The Messiah of the world knew and loved her. Nothing else mattered.

__Known__

To be loved but not known is comforting but superficial. To be known and not loved is our greatest fear. But to be fully known and truly loved is, well, a lot like being loved by God. It is what we need more than anything. – Tim Keller

This form of generosity our God and Father offers us through Jesus is extreme and immeasurably kind. It is the same kind of generosity he offered to the woman he met in Sychar. And we don’t talk about its value enough.

Romans 5:6-8 says that while we were ungodly, unrighteous, sinners, totally powerless to do anything about it, Jesus died in our place. Why? That was the only solution that could save us and satisfy God’s wrath toward sin.

But then, instead of being disgusted with us because of what he had to do, Jesus does the unthinkable. He invites us into his family, into a loving relationship in which we will be known by him. We are offered relationship with the Messiah, the Creator of the world. In any other religion, it is unthinkable that God and man could be family, could each offer themselves in intimate relationship, to know and be known. Yet this is exactly his generous offer to us.

- *“If anyone loves God, he is known by God.”* – 1 Corinthians 8:3
- *“Draw near to God, and he will draw near to you.”* – James 4:8
- *“He rewards those who seek him.”* – Hebrews 11:6
- *“See what kind of love the Father has given to us, that we should be called children of God; and so we are. [But] when he appears we shall be like him, because we shall see him as he is.”* – 1 John 3:1-2
- *“For now we see in a mirror dimly, but then face to face. Now I know in part; then I shall know fully, even as I have been fully known.”* – 1 Corinthians 13:12

Brothers and sisters, let us rest today in this grace. Contemplate the unfathomable generosity of a perfect and holy God offering himself not only *for* us but *to* us. Oh, how much we are loved. How wonderful and how generous is our God!

__Knowing__

*“But for me it is good to be near God; I have made the Lord GOD my refuge, that I may tell of all Your works.”* – Psalm 73:28

If the woman from Samaria had been listening to the songs of the nation her people hated, she would’ve heard these words. She would have seen herself in them. That day, she drew near to God, and Jesus became a refuge for her. Then, she began to tell everyone she knew.

John 4:39 says that many Samaritans of that city came to believe because of her testimony. These people – separated, geographically isolated, and culturally ostracized from the Jews who lived north and south of them … These hated people could’ve gone the rest of their days never knowing the Messiah if he had avoided them to get to Galilee.

But he didn’t.

As we are transformed by the renewing of our minds with Scripture, and as we are conformed to the image of Christ, doesn’t it make sense that we will become people who love like Jesus did – in spite of our flaws, in spite of the sins from which he would rescue us? Could we become a refuge for the unloved? Could we offer them close relationship? There is no more personal gift and no relationship more likely to move them further along the path to salvation. No greater generosity than to become like Jesus for the sake of bringing them to him.

Could we do it even if they were unpleasant, had a bad reputation, were even *known* for their sin? Isn’t that what he did for some of us?

__Jesus knew the Samaritan woman the moment he saw her. He loved her. He let her know him. And in the span of this this short interaction, he brought her (and her people) eternal life. Let us find a way to go and do the same.__

__[Image](https://www.ncfgiving.com/stories/the-generosity-of-knowing/)__ used with permission

NCF helps people create a giving strategy based on biblical principles, so they can be wise stewards of all they have and experience the joy of greater generosity.

National Christian Foundation

Passions

We may not realize how unusual it is in religion for a deity to befriend humans, but this is the invitation from God.

The Generosity of Knowing

__Earlier this year, I heard a message that had a profound impact on the way I look at my money. Paul David Tripp was one of many speakers at the Kingdom Advisors conference earlier this year. During his message, he spoke about Ephesians 4:29:__

*"Let the thief no longer steal, but rather let him labor, doing honest work with his own hands, so that he may have something to share with anyone in need"* (ESV).

What makes this verse so profound is how the verse ends. Tripp explains that we would expect the verse to end with something like, "so that he may provide for himself and his family."

But that's not how it ends. Instead, the verse concludes with, *"so he may have something to share with anyone in need."*

Frankly, this is something I have never thought about. The thief, who has been transformed, is to use his resources to further God's mission. This has a major impact on how we are to view our resources as followers of Christ. As I pondered on this, it led me to meditate on three thoughts on how one of the natural results of transformation is generosity.

__1. Transformation leads to recovering and pursuing the image of God.__

In Genesis 1, we see that man was unique in comparison to all the other creatures. Namely, God made man in his own image. In essence, this gives us status that not even God's angels have. We alone bear the image of God, or the Imago Dei.

As we know, people do not perfectly reflect God's image because of sin. That is why Jesus came. He perfectly reflected the *Imago Dei*, offered himself as the perfect sacrifice, and offers eternal life to all who believe. Not only do we have eternal life in Christ, but we also become new creations in him (2 Corinthians 5:17). As new creations, we seek to recover and pursue God's original design, which is a greater reflection of the Imago Dei.

The *Imago Dei* gives us amazing insight into human nature. For example, because God creates, we also have an innate desire to create. Similarly, just as God cares for the world, we also seek to steward the resources of the world.

If we truly believe all people bear the *Imago Dei*, then it also affects how we relate to others. Namely, we desire for our fellow image-bearers to come into right relationship with their Creator, which leads to my next point.

__2. Pursuit and recovery of the image of God leads to joining the mission of God.__

After the fall of man, God did not stand by idly. He took immediate action by covering Adam and Eve with the skins of sacrificed animals. The rest of the Bible is the unfolding of God's plan to redeem his creation. We call this the mission of God, or *Missio Dei*.

God has always invited his people to participate in the *Missio Dei*. Some wrongly assume that God only cares for the people of Israel throughout the Old Testament. On the contrary, there are multiple references to caring for foreigners (Exodus 23:9), being a blessing to the nations (Genesis 12:1-3), and God's desire for praise from all peoples (Psalm 67).

Jesus continues to make known God's love for all peoples. Before his ascension into heaven, Jesus commands his disciples to go and make disciples within their city, their region, and the whole world (Acts 1:8). As people who have been transformed by the grace of God, we must consider how we are to use our resources to participate in the *Mission Dei*.

*As people who have been transformed by the grace of God, we must consider how we are to use our resources to participate in the Mission Dei.*

__3. Joining the mission of God leads to generosity.__

The book of Acts is a personal favorite of mine. Throughout the book, we see numerous examples of self-sacrifice for the sake of the advancement of God's kingdom. This includes those who go as well as those who give generously to both the local church and to missionaries.

I acknowledge that not everyone will go overseas to become a missionary. However, that does not absolve us from participating in the Missio Dei. For those of us who stay, we must ask ourselves what we are to do with the resources entrusted to us by God.

Do we truly believe God deserves the glory from our fellow image-bearers all over the world? Do we truly believe they will spend eternity in hell, separated from their Creator, if they don't repent and believe in Jesus Christ? If so, we must do what is necessary to ensure our neighbors, our community, and our world has the opportunity to hear about what Jesus has done for them. This includes going to them, supporting our local church, and generously giving to those who go in our stead.

__Will you be generous?__

Generosity is a gift from God. It provides us with a way to participate in God's mission, even if we cannot go ourselves. And I get it, giving is hard. It's difficult to relinquish control of the resources we've earned. However, Scripture makes it clear that these resources are not our own. They belong to our King. Therefore, we must ask ourselves what our King wants us to do with them.

Will you use your home to host your neighbors? Will you give abundantly to your church? Will you give to a missionary so they can proclaim the gospel to the unreached?

__There are numerous ways to be generous. But remember, these resources are ultimately God's. Thus, my challenge to you is this: consider how God wants you to use his resources for the advancement of his kingdom.__

__[Image](https://www.christianmoneysolutions.com/post/transformation-that-leads-to-generosity)__ used with permission

Generosity

There are numerous ways to be generous. But remember, these resources are ultimately God's to be used for his kingdom.

Transformation That Leads to Generosity

__A *USA Today* last week caught my eye: ["Why Americans Plan to Take Social Security Earlier, and Even Leave Retirement Money Behind."](https://www.usatoday.com/story/money/personalfinance/2023/08/08/social-security-fears-spur-early-retirement-plans/70551333007/)__

Any person who has paid into Social Security and has [sufficient credits](https://www.ssa.gov/benefits/retirement/planner/credits.html) can apply for retirement benefits as early as age 62 (even earlier in some cases). But waiting to apply at a later age means a significantly larger monthly benefit — 45% larger if one waits until ["normal retirement age"](https://www.ssa.gov/oact/progdata/nra.html) (about age 67) and 77% larger if waiting until age 70.

But most Americans don't intend to wait.

A [new survey](https://www.schroders.com/en-us/us/institutional/clients/defined-contribution/us-retirement-survey/) from Schroders (Schroder Investment Management) found that roughly 90% of not-yet-retired Americans say they will claim benefits before age 70. About 40% won't even wait until their normal retirement age.

It's not because they don't understand that waiting translates into a higher monthly benefit. They do, but are choosing to file early anyway. "The choice to forgo larger Social Security payments is a deliberate one," according to Schroders. "72% of non-retired investors — and 95% of non-retired ages 60-65 — are aware that waiting longer earns higher payments."

The concern that's prompting a "sizeable number" of them to claim early — more than four respondents out of 10 — is that they're uneasy about Social Security's financial soundness and want to receive as much money as possible before benefits are altered.

__From *USA Today:*__

*Forty-four percent [of respondents to the survey] said they were concerned that Social Security may run out of money and stop making payments....*

*[The] Social Security [trust fund] is expected to be depleted in 2033, a year earlier than prior forecasts, the Congressional Budget Office [said](https://www.cbo.gov/system/files/2022-12/58564-Social-Security.pdf) in June.*

*"We have a crisis of confidence in the Social Security system and it’s costing American workers real money," said Deb Boyden, Schroders head of U.S. defined contribution. "Fear about the stability of Social Security has people walking away from money that could improve their quality of life in retirement. Many are not even waiting for their full benefit [at normal retirement age] let alone the maximum, which means they will have to create more income on their own, making it even more important to save and invest earlier for retirement."*

It's essential to clarify a point here. The idea that Social Security "may run out of money and stop making payments" — the survey's wording, quoted in the *USA Today* story — is not credible. Whatever may happen with Social Security in 2033, the system will not run out of money or stop making payments. Social Security will continue to take in more than $1 trillion in taxes yearly and pay out more than $1 trillion in benefits.

As [explained](https://soundmindinvesting.com/articles/countdown-to-change-social-security-s-deteriorating-finances) in SMI's May issue, the problem is that annual tax revenues are *no longer sufficient to pay all the benefits that have been promised. *For the next 10 years, Social Security's "trust-fund reserves" (hundreds of billions in Treasury Department bonds) will be redeemed to make up the funding shortfall. But by 2033, those reserves will be depleted.

By law, the Social Security Administration can't pay out more in benefits than it receives in tax and bond revenue. So when the current bond reserves run dry, Social Security must reduce benefits or raise revenue — or some combination thereof.

__"Fear" or rational concern?__

Schroders and *USA Today* suggest that "fear" motivates those who claim early because of concerns about Social Security's financial health. Perhaps. But it could be that early claimers are making a rational choice.

In a r[eport](https://www.ssa.gov/OACT/solvency/provisions/summary.pdf) (PDF) issued earlier this year, the Office of the Chief Actuary of the Social Security Administration laid out a series of proposals that could be implemented to close Social Security's massive long-term funding gap. They include:

- Changing the formula for calculating benefits (which would have the effect of reducing benefits)
- An increase in the tax on retiree benefits (essentially the same as a benefit reduction)
- Modifying the annual Cost-of-Living Adjustment (COLA) (meaning the annual inflation adjustment would be less generous)
- More means-testing (perhaps meaning a reduction in benefits for people of greater wealth)
- Raising the retirement age
- An increase in tax rates for both workers and employers

__Making a prudential judgment__

I plan to wait until age 70 to claim because when Congress finally does something about Social Security, it isn't likely to cut benefits for those in (or nearing) retirement. Older people tend to vote in large numbers, and no member of Congress wants to alienate likely voters by reducing their monthly income. At least, I don't think so.

Yet, I sympathize with those who are wary about how Social Security's shortfall situation might play out. Undoubtedly, many near-retirees are deciding to claim early based on reasonable caution, not irrational fear.

__What do you think?__

If you're nearing retirement in the next few years, what's your plan? Claim Social Security benefits at 62? Wait until "normal retirement age" (also known as "full retirement age")? Hold on until 70? Or are you still wrestling with this decision?

Let us hear from you below.

*[Image](https://soundmindinvesting.com/img/asset/Y2xvdWQvc29jaWFsLXNlY3VyaXR5LWFwcGxpY2F0aW9uLTYyNTg3MzYxNi1tb2RpZmllZC5qcGc=?fit=crop-1-98-1&w=1660&h=896&s=6d08e1572ace502fdccc0ed736fb2a90) used with permission. *

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Retirement

Others suggest that "fear" motivates those who claim early because of concerns about Social Security's financial health.

Uncertain About Social Security's Future, Many Opt for Early Benefits

__I’ve gone back and forth in my head as to whether I should write this.__

The plan was to write about something else today. You know, something that relates more closely with our finances, of course. But the Holy Spirit is pulling my heart in another direction…

I’ve probably written about this before: that the closer relationship I now have with Christ didn’t happen until I joined the Set Your House in Order (SYHIO) financial discipleship Bible study back in 2020.

I’d been a believer for 20 years up to that point, but only then did I realize I didn’t truly *know* the Lord like I should have. And I’m glad that now I do.

__However, I sit here very disappointed with myself…__

Although since participating in SYHIO I’ve been filled with more boldness to share with others that I am a Christian, that God is good, to proclaim what He’s done for me and to tell them I pray for them—whether they believe in God or not—in many ways, I have fallen short.

I’m sure (if you are a believer) you can relate that whenever a friend or loved one passes away, it’s sad, of course. But there is comfort when we know beyond a shadow of a doubt that they’re going to Heaven. On the other hand, it’s torturous when we know they’re not going there, or when we’re just not sure.

I struggle with that every so often.

I do share my testimonies or words of encouragement with them in hopes that they will choose Jesus, but sometimes, there is still that fear.

The fear that they will get angry with me. The fear that they’ll think I’m some sort of “Jesus freak.” The fear that they eventually may not want to have anything to do with me.

__So, out of fear, I stay quiet and decide not to share what’s on my heart.__

The only problem is… every time someone I know is fighting for their life or passes away, the first thought that comes to my mind is: *I hope s/he was saved.* Then, here come the shoulda, coulda, wouldas…

*I should have tried to invite them to church. I could have prayed with them more. I would have said something sooner, had I known they didn’t have much time left.*

As a believer, part of my job is to be a disciple. To share the good news about God sacrificing His Son for us to be saved and have eternal life. To lay hands on the sick. To baptize others in the name of the Father, the Son and the Holy Spirit (__[Matthew 28:19-20](https://www.biblegateway.com/passage/?search=Matthew+28%3A19-20&version=NKJV)__). To strive to be more like Christ. To make other disciples. But sometimes, I try to start this job too late…

I’ll never forget the Sunday morning when Pastor Sean, a senior pastor at my church, said to the congregation: “The only thing better than Heaven is getting there and having your family there with you.” But on the contrary, he pointed out how devastating it would be to get to Heaven and not have your family there with you…

Pastor Sean reminds us of this all the time: You don’t become clean and then give your life to Jesus. You give your life to Jesus, and then He makes you clean. He loves and accepts us just as we are, but He loves us enough not to leave us the way we are.

Assure them that they don’t have to be perfect before they come to the Lord. None of us is perfect. We make mistakes. But the best thing about making mistakes is that God is gracious enough to give us a second chance… more than that, really.

__So, where are you going?__

I think that’s the most important question in life.

Will you be spending eternity in Heaven? In the end, that’s what really matters.

And for believers, the next most important question is: *Where are they going?*

Whenever that fear that I mentioned starts to creep back up, I want to do my best to push past it. I think I’d rather risk someone I know and care about getting annoyed with me for telling them about the Lord so they can have the opportunity to be saved than to face the possibility of them not going to Heaven simply because I stayed silent.

If you have not yet accepted Christ as your personal Lord and Savior, it’s never too late. All you have to do is pray:

*Heavenly Father, I choose You. Thank You for loving me enough to send Your Son, Jesus Christ, to die for my sins. Thank You for bringing Him back to life. I choose to make Him my Lord and Savior. I ask for Your forgiveness for all of my sins, and I ask that You renew me. I accept Your gift of salvation. From this moment on, I give my life to You to guide me. I love You and thank You, Lord. In Jesus’ name, Amen.*

If you prayed that prayer, I say, welcome to the family, my brother/sister! And I implore you to get connected with a local church. Tell them you have just given your life to Christ and want to find out how you can get baptized (__[Acts 2:38](https://www.biblegateway.com/passage/?search=Acts+2%3A38&version=NKJV)__).

Now, if you were already a believer, I want to reiterate that the most important question in life should be: *Where are they (friends, family and loved ones) going?*

Whenever you have an opportunity, share about the goodness of God in the land of the living (__[Psalm 27:13](https://www.biblegateway.com/passage/?search=Psalm+27%3A13&version=NKJV)__). Tell your friends, family, loved ones and strangers alike about Jesus.

Share your testimonies with them when you have opportunities to do so. Love them wholeheartedly. Live your life as an example of who God is.

Tell them Jesus loves them. Show them that they can have the gift of salvation.

__Don’t wait. The next day isn’t promised to anyone. Not even the next hour, minute or second is.__

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The Bible on Money

So, where are you going?  I think that’s the most important question in life.

It's the Most Important Question

__A financial tidal wave is coming and it’s not what you might expect. It’s not about debt— it’s actually a tidal wave of *wealth*.__

You might call it the Baby Boomers’** last hurrah. As they pass away, Boomers will transfer an immense amount of assets to their children. Analysts are calling it “historic,” and our thanks to *The Gospel Coalition* for [reporting](https://www.thegospelcoalition.org/article/kids-ready-inherit/) on it.

A tidal wave of wealth is really an apt description for what’s coming. It’s estimated that by 2030, the Baby Boomer generation will pass nearly *$68* *trillion* in assets to their children.

Analysts say that by 2030— millennials— those born roughly between 1981 and 1996— will hold *five times* as much wealth as they have today. Obviously, not every millennial will have five times more in assets— that’s a nationwide figure. Still, it’s safe to say that the children of baby boomers will have a great deal more wealth within a few years than they have now.

The question then is, what will they do with it? More specifically, *“*What will *Christian* heirs do with that money? How much will be given to local churches and global missions? The answers, of course, depend on the generosity of future generations.

That’s a cause of concern. By one [estimate](https://pushpay.com/blog/church-giving-statistics/), Boomers and their parents have accounted for nearly 80% of church giving in recent decades. As Boomers pass away, churches are grappling with the loss of their giving.

That loss is only the latest in a decades-long decline in giving. Seventy years ago, religious giving made up 70% of all charitable donations in the U.S. By 2021, that had shrunk to just 27% of all donations.

__As one might expect, the passing of Boomers is having a significant impact on smaller churches, where any loss is felt more acutely, but large churches are seeing the downturn in giving, as well.__

It’s [estimated](https://www.thebanner.org/news/2022/12/report-us-charitable-donations-rose-last-year-but-giving-to-larger-churches-dropped) that the largest evangelical churches experienced nearly a 7% drop in giving during COVID, despite a 4% *increase *in all charitable donations for the period.

It’s not all bad news on the giving front, however. Another study is showing that younger generations do see charitable giving as a priority, even if it means putting off spending in other areas.

This is where Christian Boomers can have a huge impact, by modeling generosity for their adult children. They are more likely to take on the generous traits of their parents and grandparents if those values are clearly communicated. *The Gospel Coalition* gives three ways to do that:

__First, you need to engage with your family.__ Meeting and communicating with family members is a key part of setting up a plan to transfer wealth. Avoid surprises and all heirs should feel included in the process and mutually responsible for its success.

These discussions don’t have to be formal, stiff affairs. They can provide an opportunity for parents and grandparents to express their wishes and share stories about how God provided for them. The older generation can encourage the younger to think about an inheritance in a purposeful way and how it can further the Kingdom, but it has to be done while the benefactors are still living.

__Next, Boomers must actually plan their estates.__ This is the point where values are expressed in money itself and it presents an opportunity for a well-planned estate to carry a legacy of generosity to future generations.

An estate plan can do much more than simply hand out wealth. It can also define a charitable giving strategy and the means for making that strategy a reality. When the plan is in writing, confusion is minimized.

Not everything must be left to the next generation. An estate plan may involve a trust or another form of asset gifting to the Kingdom. These instruments will determine how wealth can support one’s church, or a favorite ministry or missionary operation.

Another item that aging Boomers may want to consider is something called an ethical will. This is basically a document that captures your life’s story, your religious values, ethics and beliefs. It helps to convey those details to future generations.

__The third way the older generation can leave a legacy of generosity is to educate and encourage their heirs.__

Financial literacy is a major problem in the U.S. By some [estimates](https://www.bankrate.com/finance/credit-cards/living-paycheck-to-paycheck-statistics/#:~:text=Living%20paycheck%20to%20paycheck%20is,until%20their%20next%20paycheck%20arrives.), almost two thirds of consumers live paycheck to paycheck and three out of four are in some type of debt. Leaving large sums of wealth to the next generation could do more harm than good if the heirs are unprepared to handle it.

__Christian Boomers must pass on their wisdom and values, in addition to wealth, to leave a lasting legacy of stewardship and generosity.__

You can also __[listen](https://www.faithfi.com/faithfi/a-tidal-wave-of-wealth-5952)__ to the related podcast on this topic.

FaithFi

Articles

You might call it the Baby Boomers’ last hurrah. They will be transferring an immense amount of assets to their children

A Tidal Wave of Wealth

Aaron Caid is Chief Marketing Officer at <a href="https://www.mycccu.com/">Christian Community Credit Union</a>, an underwriter of this program. Again, this is part two of our discussion. Please give us a brief recap of what your survey revealed and how folks feel about banks that don't share their values.<ul><li>Over 30% of Christians surveyed in a recent study considered switching banks in the last year.</li><li>One of the top three reasons for switching was misalignment with Christian values.      </li><li>More than 60% of respondents care deeply about managing their finances biblically.    </li><li>Over 50% believe it's crucial for their bank to align with and support their Christian values.</li></ul> What would you encourage Christians Aaron to consider when they're thinking about where they bank?<ul><li>Christians should consider how their bank uses the money they deposit.       </li><li>They should ask whether the bank maximizes profits for shareholders or supports Christian causes.</li><li>Christians can assess if their bank helps advance the gospel or attempts to silence it.</li><li>They should inquire about how the bank uses its profits, whether for moral causes or ministries.</li></ul> Switching banks may feel like a lot of effort. So what would you tell that person?<ul><li>Switching banks is a small time investment, similar to adopting a new spiritual practice.  </li><li>Aligning finances with faith is worth the effort.</li><li>Christian Community Credit Union (CCCU) provides an alternative aligned with Christian values.</li></ul> What are the primary differences between CCCU and big banks? <ul><li>CCCU offers quality financial products and robust digital tools.</li><li>Members enjoy competitive rates and low fees.        </li><li>Financial activities support building churches, expanding ministries, and aiding Christian charities.         </li><li>CCCU operates with Scripture as its primary authority, in contrast to secular banks.</li></ul> What are some of the compelling offerings you all have at CCCU today?<ul><li>Recently introduced the "Harvest High Yield Checking Account" with a 4% APY on the first $5,000 in deposits.</li><li>They offer a "Welcome CD" with a 5% APY, fully insured up to $250,000 per account.     </li><li>CCCU provides a "Cash Rewards Card" that offers 1.5% cashback and contributes to Christian charities with each use.</li></ul>You’ll find more information at <a href="http://joinchristiancommunity.com/">JoinChristianCommunity.com</a>. On today’s program, Rob also answers listener questions: <ul><li>When moving money between brokers, what should I know about the different types of accounts and fees involved?</li><li>Is it a good idea to sell my wife's car, which is worth around $5,000, and get a cheaper one?</li><li>Should I sell my properties and put the money into an annuity to protect against potential Medicaid eligibility issues in the future?</li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give</a> as we expand our outreach.

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

It’s 2023. Do you know what your bank is doing these days? A lot of people don’t.
Many of the nation’s big banks are supporting abortion and other ungodly practices— and many Christians are saying they’ve had enough. Today we’ll have part two of our discussion with Aaron Caid about a very revealing survey on this topic.

Is Your Bank Unbiblical, Pt. 2 With Aaron Caid

Where timeless biblical wisdom meets today's financial decisions.

Become Wise With Money

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<ul><li>God created human beings for work, emphasizing its importance throughout the Bible for personal growth and God's glory.</li><li>Adam and Eve were given the responsibility of caring for the Garden of Eden, showcasing that work was a gift to maintain their relationship with God.</li><li>Despite the challenges brought about by sin, the desire for meaningful work persists within people.</li><li>Many individuals are working multiple jobs, influenced by financial constraints, with more than 7.7 million workers in such situations as of 2022.</li><li>Keeping multiple jobs organized is crucial, requiring task, schedule, and contact management, whether using online apps or traditional planners.</li><li>Effective communication is essential when managing multiple jobs, including regular check-ins with employers, team members, and clearly defined expectations and deadlines.</li><li>Time management is crucial, with boundaries and breaks necessary to prevent burnout.</li><li>Maintaining one's spiritual well-being is essential even in busy times, as overemphasis on work can lead to it becoming an idol.</li></ul> Here are a few clues that your work might be an idol, whether you have one job or many:<ul><li>Your self-worth rises or falls based on meeting your income goals.</li><li>You give up rest, family time, and church in order to put in extra work hours.</li><li>You can’t take your mind off of work tasks, e-mails, calls, and issues.</li><li>You are stressed out, discouraged and exhausted by working.</li><li>You believe that financial security is the main reason for work.</li><li>You are obsessed with productivity, success, income, and promotion.</li><li>You believe your paycheck is your provider.</li><li>And finally, a very telling indication…You make money, but you don’t like to give money.</li></ul> If work is becoming an idol for you, rest and turn to Jesus instead. Satisfying work isn’t about you– it’s about Who.  When you focus on Christ and follow biblical principles, your attitude towards work will change as well.  You’ll begin to see the opportunities God’s giving you to reach others.  You’ll understand that difficult circumstances are sometimes God’s way of helping you “grow up” as a Christian. You’ll recognize that God is your provider, and you can trust Him to lead you and take care of you. On today’s program, Rob also answers listener questions: <ul><li>How do we put our parents' house in my name before any major events and tax implications? </li><li>Should I change the allocation of my 401(k) investments at 61 years old?</li><li>Is it a good idea to pay off our home mortgage using a CD and savings when we already have a substantial emergency fund and no other debts?</li></ul> Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give</a> as we expand our outreach.

The Bible calls work a gift.  But if you have to work more than one job, it might not feel like it. We’ll offer a few practical and spiritual insights for working multiple jobs, today on Faith and Finance.

Working Multiple Jobs

“And I will give you shepherds after my own heart, who will feed you with knowledge and understanding.”  Jeremiah 3:15Brian Kluth is a best-selling author of several books on generosity. He was a pastor himself for 10 years and is now the national spokesman for the annual Bless Your Pastor initiative, which is organized by the National Association of Evangelicals. Tell us about the three-step program for blessing pastors and church staff.The three steps are:1. Download free materials for your church and share them with church leaders, including a flier titled "50 Ways to Bless Your Pastor and Church Staff. 2. Take up an appreciation offering.      3. Publicly honor the pastor and staff.Completing these steps allows pastors to receive a marriage retreat scholarship to a Weekend to Remember and access other free and discounted retreat and vacation opportunities. Over 3,000 churches have already participated in this program. What are some examples from the "50 Ways to Bless Your Pastor" resource?<ul><li>The resource provides ideas on how to pray for your pastor, affirm your pastor, encourage them, and offer practical assistance.       </li><li>Examples include offering dental care, car repairs, lawn care, and other practical acts of service.</li><li>The goal is to show deep appreciation for those who minister in the church, as encouraged by 1 Thessalonians 5:12.</li></ul> How does collecting an appreciation offering work (Step 2)?<ul><li>Leaders inform the congregation that they will collect an appreciation offering for the pastor and church staff.   </li><li>This offering is a gift to help pastors and staff, many of whom may have limited financial resources.       </li><li>It can make a significant difference in their lives, especially during times like Christmas.</li></ul> Give an example of what celebrating (Step 3) looks like.<ul><li>Celebrating can involve various forms of recognition or appreciation, such as public prayers, appreciation meals, or handwritten notes.</li><li>The key is to honor pastors and church staff publicly to show appreciation for their service.</li></ul> All materials and information can be found at <a href="https://blessyourpastor.org/">blessyourpastor.org</a>, available in both English and Spanish. On today’s program, Rob also answers listener questions: <ul><li>Should you convert some traditional retirement accounts to a Roth IRA based on my financial situation?</li><li>What's the best way to start a Roth IRA with a monthly contribution of $400-$500?</li><li>Should I take a lump sum or an annuity from my pension as I approach retirement?</li><li>I have $30,000 in a checking account, and I'm looking for ways to make it earn more interest without taking risks. What should I do with it?</li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.bankrate.com/">Bankrate.com</a>  </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give</a> as we expand our outreach.

October is Pastor Appreciation Month. It’s a great time to show your appreciation for the shepherds the Lord has given you, who feed you with knowledge and understanding. We’ll talk with Brian Kluth about that today on Faith and Finance.

3 Steps to Bless Your Pastor With Brian Kluth

Mark Biller is executive editor at <a href="https://soundmindinvesting.com/">Sound Mind Investing</a>.Mark recently published an article in the latest SMI newsletter titled “<a href="https://soundmindinvesting.com/articles/measuring-the-market-s-valuation-part-1-p-s-and-p-e-ratios">Measuring the Market’s Valuation</a>."Market valuation" refers to the process of assessing the worth or value of the overall stock market or individual stocks within it. It involves determining whether the current prices of stocks accurately reflect their underlying fundamentals, such as earnings, assets, and growth potential. Market valuation is essential because it helps investors make informed decisions about buying or selling stocks. Here's why market valuation is important:<ul><li>Price Assessment: It helps investors assess whether the prices of stocks are reasonable, overpriced, or underpriced based on their intrinsic value. This information guides investment decisions.</li><li>Risk Management: Understanding market valuation can assist in managing investment risk. If stocks are overvalued, it may indicate a higher risk of a market correction or crash.</li><li>Asset Allocation: Market valuation influences asset allocation decisions. In an overvalued market, investors may choose to allocate more funds to safer assets like bonds or cash.</li><li>Long-Term Returns: It can impact long-term investment returns. Buying stocks when they are undervalued can lead to better long-term gains.</li><li>Behavioral Factors: Market valuation can provide insights into investor sentiment and behavior. During periods of overvaluation, investors may be overly optimistic, while undervaluation may lead to pessimism.</li><li>Overall, market valuation helps investors make informed and rational decisions in the stock market, balancing potential returns with risk. It's a crucial tool for both individual and institutional investors in managing their portfolios.</li></ul> It’s important to recognize that the price investors are willing to pay for company earnings changes over time, right?<ul><li>Investor attitudes and the price investors are willing to pay for company earnings change significantly over time.</li><li>These changes are driven by emotional swings, with investors being optimistic at times and pessimistic at others.</li><li>These shifts in investor sentiment contribute to extended bull markets and occasional stock market bubbles, as well as bear markets when investors become pessimistic.</li></ul> The key to measuring how expensive a given company, or the stock market as a whole, is to know how much it is earning - is that right?<ul><li>Yes, measuring a company's or market's valuation often involves comparing its price to its earnings.     </li><li>One common measure is the "P/E ratio" (price to earnings ratio), which compares the stock price to earnings per share.</li><li>Similar measures can be applied to the entire market to assess its overall valuation.</li></ul> Mark offers some important warnings about market valuation in his article. <ul><li>Market valuation is not a useful short-term timing tool.      </li><li>It can indicate when the market is overvalued or undervalued, but it doesn't predict when corrections will occur.      </li><li>Market valuation is primarily helpful for long-term projections and can inform financial planning.</li><li>High valuations may suggest below-average returns in the coming decade, while low valuations may suggest above-average returns.</li></ul> So we shouldn’t necessarily run out and make a bunch of trades based on this information. How can we use it to help us make decisions?<ul><li>Market valuation can help in long-term financial planning.  </li><li>If the market is highly valued, conservative return estimates can be used in retirement planning.   </li><li>Adjusting expectations based on market valuation can guide decisions about savings rates and retirement age.</li></ul> What do the various measures say about the market’s valuation today?<ul><li>Most measures suggest that the market is currently expensive.</li><li>A decade of economic growth and massive stimulus have contributed to high valuations, although they have moderated slightly from late 2021.</li></ul> Are there other factors that can affect market valuations, and how do these types of situations typically resolve?<ul><li>Other factors can impact valuations, and over the decades, the trend has been toward higher valuations.</li><li>Market valuations often correct through bear markets, which can cut market values significantly.</li><li>These corrections set the stage for future bull markets as valuations become more favorable.</li><li>The discussion provides insights into market valuation, its limitations, and its relevance in long-term financial planning.</li></ul> On today’s program, Rob also answers listener questions: <ul><li>Are Certified Kingdom Advisors professionals with extra training or volunteers who have undergone additional training?</li><li>Is there a formula to determine whether to repair a car when the repair cost exceeds the car's current market value?</li><li>Is it a good idea to keep a 17-year term life insurance policy for mortgage protection, or would it be better to use the money for emergency funds and investments?</li></ul> RESOURCES MENTIONED:<ul><li><a href="https://www.faithfi.com/find">Find a Certified Kingdom Advisor</a>  </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give</a> as we expand our outreach.

Are stocks overvalued right now? No doubt some are. Better question: Is the stock market as a whole overvalued? We’ll talk to Mark Biller about that today on Faith and Finance.

Measuring the Market’s Valuation With Mark Biller

__In last week’s [Roundup](https://soundmindinvesting.com/articles/money-roundup-the-2023-market-turnaround-losing-a-401k-tax-break-and-more), Joseph included a *[Wall Street Journal article](https://www.wsj.com/articles/retirement-tax-breaks-401k-contributions-2868ffdc?st=fqg5cl9q9ueq02l&reflink=desktopwebshare_permalink) *describing an important change for high-income 401(k) plan savers. It pertains to catch-up contributions — the $7,500 that savers ages 50 and older can add to the $22,500 that all savers can contribute to a 401(k) plan. Beginning next year, catch-up contributions made by those making more than $145,000 must be made on a Roth basis.__

While some see that change as a benefit since it’ll give more people access to tax-free money in retirement, those impacted will need to budget for a higher current tax bill.

Here’s a look at a handful of the other 90-plus retirement-savings changes being ushered in by the Secure 2.0 Act, which Congress approved last December.

__Required Minimum Distributions.__ This year, the age for beginning to take RMDs is raised to 73. Ten years from now, in 2033, it will rise to 75. However, anyone who became subject to RMDs under previous rules must stick to those rules.

In a related change, the penalty for missing an RMD is now 25% — down from 50%. If corrected in a “timely” manner (if you take the necessary RMD by the end of the second year following the year it was due), the penalty is further reduced to 10%.

__Roth Accounts.__ If you contribute to a Roth workplace retirement plan and your employer provides a match, that matching money may also be made on a Roth basis. Previously, employer matches had to be on a pre-tax basis.

For the first time, Roth contributions also are now allowed for SEP and Simple IRAs.

__RMDs and Roth Accounts.__ Beginning next year, Roth 401(k) account balances will no longer be subject to RMDs during the owner’s lifetime. Previously (and confusingly!), Roth *IRA* balances were not subject to RMDs but Roth *401(k)* balances were. Starting in 2024, owners of either type of Roth won’t be forced into any distribution schedule.

__QCD-Funded Annuities.__ RMDs are excluded from taxable income when used to make a charitable contribution. This is known as a qualified charitable distribution, or QCD. Now, for the first time, an additional benefit may be derived from such money. Up to $50,000 can be used for a one-time purchase of a charitable gift annuity. (For more details, read Joseph’s article in the July issue of the Sound Mind Investing newsletter: *[Give to Charity From Your IRA — and Get Retirement Income in Return.](https://www.wsj.com/articles/retirement-tax-breaks-401k-contributions-2868ffdc?st=fqg5cl9q9ueq02l&reflink=desktopwebshare_permalink)*)

__529 College-Savings Plans.__ Beginning next year, if money is left over in a 529 plan, up to $35,000 may be rolled into a Roth IRA in the beneficiary’s name. To be eligible, the plan must have been open for at least 15 years and the amount rolled over must adhere to the annual contribution limit — currently $6,500. If you want to move more than $6,500 from a 529 plan account to a Roth, you’ll have to do so in stages.

Which of these changes will impact you?

*[Image](https://soundmindinvesting.com/img/asset/Y2xvdWQvYXJ0aWNsZXMvaXN0b2NrLTExNjQzNTczNjQuanBn?fit=crop-0-98-1&w=1660&h=896&s=2ccdeaaeb599f691e665f6b937940eb7) used with permission. *

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Beginning next year, catch-up contributions made by those making more than $145,000 must be made on a Roth basis.

Retirement Plan Rules Have Changed, and More Changes Are Coming

CHM gave the Widuck family the opportunity and flexibility to follow their dreams. Shortly after Michael's medical emergency, he and his wife Krissy restored a neglected building in a small Ohio downtown.

"When it comes to healthcare, CHM is how it’s supposed to work. We’re so thankful for this ministry." -Michael Widuck

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Sharing medical costs through CHM gave the Widuck family the opportunity and flexibility to follow their dreams.

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