If Only I Was Promoted

Scriptures: Ruth 2:12; Col 3:23; Ps 75:6-7

Are you unhappy in your job because of the salary you make? Have you ever felt that if you were promoted to a new position, you would be making more money and therefore not be so strapped for money? 

If you are asking yourself these questions, I will have to ask you: What is causing you to ask these questions? And more often than not, the answer I receive is: I have too many bills to pay. 

Not having enough money to pay your bills is usually a symptom of uncontrolled spending. Now sometimes the issues are legitimate, such as unplanned medical expenses, but this is generally not the case for most people seeking more money thru their work.

So, before you get that new job that pays more money, I recommend getting a good handle on your spending habits and start operating from a balanced budget.  If you have not put in place appropriate levels of spending for your current income, then having more money only gives you the opportunity to get deeper into trouble.  You have the fix your habits before you make more money.

So, let’s say you have straightened up and getting out of debt has become a priority for you. GREAT! 

At this point, you have several options to consider for eliminating debt through making more money.

1.    Find a part time job that you use to pay down your debt using such techniques as a debt snowball (see my previous blog postings). And when you have paid off the debt, then feel free to resign from that job because you will have achieved your goal.  But be sure that you also have built up a cash reserve to handle emergencies before making your exit and you are working off a sound budget. 

2.    Make sure you are being the best employee you can be in your current job.  Employees who can demonstrate outstanding performance could find themselves on the receiving side of a bonus or a raise.  One way to do this is to help your company save money.  Helping your company manage their expenses may mean the difference between saving your job because of such great cost-saving ideas or by cutting your job as the alternative.  Lastly, remember whom you serve as a Christian.  If in doubt, read Colossians 3:23. 

3.    Update your resume.  Be sure to have your spouse or a friend review it.  If your friend is a hiring manager, even better since in today’s job market they have reviewed hundreds of resumes and they know the good, the bad and the ugly of resume presentation.  And I recommend being very selective with applying to new positions.  Don’t come across as being desperate for a new job by blitzing every job that you can.

4.    Don’t get discouraged in your search for a new job.  If having a new job is the Lord’s will for you, it will happen.  Personally, I have applied to several job opportunities within my company over the past few years and I wasn’t selected for any of them.  The interesting thing about this is that every one of these positions (say one) no longer exists!  And so while I was disappointed with the not receiving the position, I had to trust the Lord with the decision.

Now you may be interested in making a complete career change, head in a new direction.  This could be a good thing or a not so good thing.  The important thing to ask yourself is: Will this new direction be a good thing for me?  To help answer this question, you may want to check out Crown’s Career tools by clicking here.  On this page, you will find a free online assessment that can help you make this very important decision. It is definitely worth a little investment of your time and money to be sure the new direction for your life.

Used and Still Going Strong

Scriptures: Malachi 1:13; Acts 5:1-10

When is donating other than money to a charity worthless?  When would it be considered less than Godly?  Shouldn’t we always donate the best?

Donating goods to a charity is an alternative to giving money.  The charity can then sell the donated item and use the cash within their ministry.  For example, you can donate a piece of furniture you no longer want or your car that you choose not to sell.  Donating goods is also tax deductible, which is why so many of us do it.

But for all charities, the goods should be in good condition, gently used as they like to say in the trade.  Yet, one of the fullest dumpsters in town is the one associated with the Task Force, Castle Rock’s local thrift store and food bank. This is because what is being donated is not worthy of being sold. 

Most of you probably receive the monthly phone call from groups like ARC or the Vietnam Veterans Association stating they are going to have a truck in your area to pick up any items you want to donate. Now, if you have ever taken them up on their offer, you may have discovered that they won’t always take what you are willing to give up. That’s because they only want items they can sell and if the item is in poor condition, they won’t take it. At times, this is aggravating because now we have to arrange to have it hauled away by our garbage company, but isn’t this the way it should have been in the first place.

And many churches have had to create policies for doing the same thing as these charities.  Ministry leaders have been turning away items that people are willing to donate because the item is junk.  Prior to these policies, donations like this moved the burden of disposing of the item from the donor (and I use this term loosely) onto the church. 

The passage in Malachi really speaks to what is happening at too many charities and churches in our towns, states and country.  Too many of us are stretching the notion of what is gently used just so that we can claim a tax deduction for what is truly our garbage.  And yes, this is a harsh statement but it is true and I have to admit I have done this in the past. 

 Yet, as you mature as a Christian, you have to put off the old self and seek to improve your actions.  You have to stop doing things that aren’t becoming of your new self.  You should not lie to yourself by saying “someone can still use this” and admit that the item has exhausted its useful life and needs to be dumped.  And I won’t mention how wrong donating something that is really garbage just so that you can claim a deduction on your taxes – okay I just did; it’s wrong and shouldn’t be done.

Bottom line:  If you wouldn’t want to give it your best friend or your mother, then it probably belongs in the trash. 

Now for the truly gently used items that are worth donating to a charity, you can in good conscience know that you are doing a good thing.  The organization will put it to good use for the ministry that they are engaged in.  After all, this is why you have chosen to donate to them; you want to support their efforts.

When you donate a non-cash item, you will want to receive a receipt for your donation.  The charity will typically describe what is being donated (if the item is difficult or complex to describe, you will want to have this description prepared for them) but they won’t place a value on the item; this is for you to do, which is based upon what you know the fair market value of the item is – but be careful as this too is a slippery slope. 

Lastly, I encourage you to shop in the thrift stores in your area.  The items you purchase are not only at bargain prices but the cash you spend helps the charity perform its mission and pay its bills.  For example, the Task Force uses cash from its thrift store to buy perishable foods that it supplies are part of its food bank. 

So, the next time you want to buy a book for your next vacation or some clothes you want to use for painting the house, think about your local thrift store – you are not only being frugal but you are supporting a good charity! 

Provisions – Your Role and His

Scriptures: Ps 37:25; Prov 22:3; Prov 27:12; Rom 13:1

Home insurance, life insurance, auto insurance, health insurance and the list goes on & on!  When do I trust in God for His provision & protection and when to I buy insurance?  Or is it really that I need to do both? 

You have heard me say that everyone should have enough money saved to handle emergencies.  At a minimum you should at least $1000 saved and the more the better.  Yet, there will be a time when your savings are not enough to cover the emergency and that’s why there are insurance policies. 

The problem though is that insurance it typically left out your budget.  And in many ways this is not a wise way to prepare for major emergencies.

Home owners insurance is required if you have a mortgage on your home.  The premium is collected as part of your monthly payment to be deposited into an escrow account and protects the bank against catastrophic loss to the property.

If your mortgage loan to home value is greater than 80%, that is you put down less than 20% to purchase your home, you are also paying private mortgage insurance too.

Health insurance is what we come to expect of your employer. The policy handles many of the unexpected costs associated with health issues. 

Auto insurance is required by law as a matter of driving your car.  Most auto policies have elements to protect the asset (collision) and the victims of their injuries or loss (liability).

And each of these insurance policies is to protect you and your assets while you are in this world.  Life insurance is to take care of those you leave behind. In essence, insurance helps us hide from trouble (Prov 27:12). 

So, when does having no insurance become unwise and when does having too much insurance become ungodly? 

Not having insurance is often unwise and sometimes illegal.  God has setup the governments and therefore you can also conclude it is being disobedient to God’s word when we drop your auto insurance.  It is also unwise, as in the case of life insurance, since you will be leaving a large debt burden behind if you have a mortgage or your spouse doesn’t work or at the very least your funeral arrangements (these can cost upwards near $20,000 dollars!). 

Therefore, not carrying insurance is not an option.  You should have some level of home owners insurance (even if we don’t have a mortgage), auto insurance (because it’s the law) and life insurance (if only to cover your funeral expenses).  All others have to be evaluated carefully in light of the question; can you have too much insurance?

Okay, if you should be carrying insurance, is it possible to have too much insurance coverage?  Maybe – If you are buying insurance because of a fear of the future, you may want to evaluate your trust in God’s provision.  If God promises to not forsake us (Ps 37:25), then are you placing too much trust in the world to provide for your needs? Definitely a hard question to answer, and so you may want to use the Five-Why’s technique to dig deeper. 

Now, if you feel that you do indeed trust God implicitly for His provision of the future, you should evaluate if you are paying for more insurance than is necessary. 

Are the ways to save on insurance costs?  Yes!  Here are some ideas for you to consider.

Auto Insurance:  Consider dropping collision coverage for a low value car; provided that your car is not financed. Only Liability coverage is required by law.  Consider raising your deductible.  Be careful not to raise it too high as to not have enough in your savings to cover the deductible. And be sure to check out the kinds of discounts your insurer provides for things like anti-lock brakes; for your children, good-grade discounts and so on. 

Life Insurance: Consider term life insurance.  Also, evaluate the value of the policy.  If you have paid off your mortgage, then you probably don’t need as much as you have.  What isn’t intuitive to most is that the older you get, the less you need to have.  Remember, life insurance is best for covering debts and death expenses.  If all of your debts are paid, then really you only need to consider the life-style of your spouse and funeral expenses. 

Private Mortgage Insurance: This policy can be eliminated when your loan to value is below 80%.  So, paying down your mortgage includes this benefit too.

My recommendation is for you to review your insurance needs every time you renew the policy and after every major life event (new children, children who are no longer living with you (empty nest), moving to a new house, changing jobs, marriages, and deaths). 

For more information on insurance: check out Crown’s insurance article.