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1. Prosper and Be in Health: A Financial Health Message

Alistair Huong


Just like there are laws of physical health, there are also laws of financial health!  If we want physical fitness, just follow the laws of physical health.  Likewise, if we want financial fitness, we need to follow the laws of financial health.  This presentation presents the 8 laws of financial health.


Alistair Huong

Executive Director of AudioVerse



  • December 28, 2017
    9:15 AM
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This message was presented at the July see twenty seventeen conference arise in Phoenix Arizona for other resources like this visit us online at W.W.W. dot. Org. All right I think. We will go ahead and get started. With our seminar and as people trickle in they'll catch up quickly. Is it alright if I stand down here and sit up there you can see me OK I'm not that tall but I do have a laser pointer and I do want to be able to. Guide the discussion so I don't want to be stuck up there and I can't touch the screen. So welcome to our seminar for the love of money and it is of finance some of our personal finance and. Before we go any further let's begin with a word of prayer. Father in heaven thank you so much for bringing us safely to Phoenix for G Y C twenty seventeen the blessing that this convention has already been referred Lord as we spend the next few moments and then the next few seminar sessions thinking about a very practical relevant aspect of our lives give us wisdom from your counsels from your word that we might glorify you even in this area of our lives teach us be with us we pray in Jesus' name and that you're all familiar with the title of the seminar I believe for the love of money anyone want to finish the rest that verse for me. Is the root of all evil exactly right first time of the six ten for the love of money is the root of all evil which while some covered it after they have air from the faith and pierced themselves through with many sorrows. It's not money invest a problem it's the love of money that's the issue and so that's why we have a whole seminar talking about this because how do we deal with this thing called money and our relationship to it because if we don't get it right we might fall into what's called the root of all evil. So the first some in our session here we are going to be talking about is called prosper and be in health a financial health message this one this first hour is more of an overview general principles a framework through which we can evaluate financial decisions and then starting the next hour we're going to get really specific OK And this particular hour I'm going to be sprinkling through a little bit of a preview so you know what's coming ahead so this serves as a framework it also serves as an introduction to the rest of the other five hours and I'll be giving you some tidbits so you know what to expect and what seminar sessions so if you want to catch something else and there's something here that's interesting you know when we come back OK So hopefully this will be a helpful orientation but also a practical principled based seminar as well so why should you listen to me like Who is this guy what right does he have to tell me what to do with my money well I'm not here to tell you what to do with your money I'm here to share some principles some of my own experiences and you do what you want with your money actually you'll find out later it's actually not your money but we're getting ahead of ourselves first of all I am not a professional so I'm not giving you investment advice financial advice legal advice taxes vice. I'm not here for that it's a necessary disclaimer so nobody sues me but also this is why I think I have something worth listening to and that is I'm just like you I have to live life I have a job a family out to pay the bills I'm not a financial guru where I'm a professional at this and I live in a different world a different bubble in the real world and I'm just sharing my personal experience and perhaps most importantly I'm not selling anything. Don't come to me asking me for financial adviser meant I'm I don't have a membership program I don't have this D.V.D. just pay me ninety nine for three months and I'll teach you how to be a millionaire none of that none of that no book even OK I'll share with you my website I have a free website you can read it or leave it right no membership you can you can take it or leave it so hopefully that gives you a little bit of confidence I have no conflict of interest here I'm not trying to pump up some product or get you to buy something but I do have some education that might be relevant for what it's worth I have a business degree from Southern avenues university I also was a math teacher at to high school in college math for a short while and let me tell you. The math is more important in the business. You don't need to have a business degree to have than and have an M.B.A. in order to master your personal finances but you do need to know how to do math adding subtracting decimals fractions exponents might be nice. So I mentioned I went to school a Southern I have my master's from Southern but more importantly I got my Masters debt free obvious sharing that story how that happened later on this hour also something that might be interesting to us my wife and I we paid off our house in two years. Bought a house in twenty thirteen paid it off two years to the day later I'll be sharing this. Story with you this afternoon and we talked about debt. In twenty fifteen some numbers now twenty fifteen my wife and I had our baby in August so the first half of the year we were two income family one income family after the baby came and these are percentages we spent our living expenses was twenty four percent we gave away twenty one percent and we saved fifty five percent of our income. But of course we had a baby so what happened in twenty sixteen the baby must of like nuked our budget. What we did have some increased spending one whole percent and by the way this is not necessarily tell the whole story because in the twenty fifteen for half the year we had two incomes in two thousand and sixteen one income. Three member household all of a sudden and we increased our spending by five percent or one percent even though our income dropped by almost fifty percent so you gotta understand the percentages don't tell the full story we also gave or twenty six percent and we say forty nine percent and what's interesting to me what I was very happy about which was one of our goals was that in two thousand and sixteen for the first time the amount we gave away it was higher than the amount that we spent for ourselves we're going to talk about that in a moment there's a principle behind why we chose to do that. But twenty sixteen was the first time we ever that we were able to do that and twenty seventeen is not over yet but if you want to find out our numbers I'm getting a little bit ahead of myself here but we have a website saving that comes out com the website and everything's coming on the next slide but every year in January or February we give a annual report of our financials and not only do we give you our percentages we actually tell you how much we earned so if you are one of those you know really curious people and you want to know how much money does this guy actually make I actually tell you on. The website. It's below the US median income I'll just tell you that household income were below the median but twenty seventeen is going to be coming on about a month and it'll be interesting to see what happens I'm curious I haven't crunched the numbers. So we have one income home my wife stays home to scare the baby I work in a ministry I work for Audi verse you see my logo here have to represent. And ministry salary is a code word you understand what the code word means it means it's not much we get a moderate income obviously comfortable for me to be able to live a nice life but you know I am not a C.E.O. of a Fortune five hundred company with the golden parachute and million dollar bonuses no way and of course you're like You must have like a rich uncle right or some secret windfall you won the lottery or you must have a secret stash of Bitcoin somewhere no I am not a big coin millionaire and we had no secret windfall no special whatever we do have parents helped us through school that was a huge blessing both my wife and I but know nothing terribly out of the ordinary we did this because you know the normal way of working and budgeting and all that but since I did bring a bit coin and I sort of teased everyone about that. We're going to talk about bitcoin in the third session so this afternoon right after lunch the seminar on investing we're going to be sprinkling some bitcoin flavored tidbits all throughout that one so if you want to about Bitcoin that's the one that come to. So save the crumbs dot com our website this is the web address. You can check it out a lot of the information that we share here is also available there in writing. And also two years ago at G Y C I did a six part seminar called Beyond the ties six hours. And. A lot of the information I would say about fifty fifty fifty percent of the information is sort of repackaged and we're going to be covering a lot of the basics again here but we have some new information here that's not covered there and there is information covered in this and are that's not going to be covered here so this is more like a part two to that part one and. If you're a glutton for more punishment after the seminar you want more the six hours more OK and I'll be sharing a little bit what I don't cover here that's found there and also what we're covering here that we're don't cover there so if you want to get more information I recommend the seminar I see it's available in audio version also on the U.S. the Web site. So let's get started with the body of our message So first of all I want to start with a quiz OK let's get our our brains going five question quiz true or false questions Ross I'm going to need a little bit of feedback in this a launch just into our topic for this hour. Question number one. I am financially responsible as long as I don't spend more than what I earn each month is this a true or false statement. False anyone's a true peer pressures of an incredible thing. Let's see what the Spirit prophecy has to say. In Letter forty one in eight hundred seventy seven paragraph seven to carefully reserve a portion of each week's wages and lay by a certain sum every week which is not to be touched should be your rule so am I being financially responsible if I spend up to the last penny like of every month no element makes a very clear is fair property or says you need to save a circle us beyond what you're using every month let's make it a little bit more specific in evidence on page three ninety six paragraph through three I have known a family receiving twenty dollars a week to spend every penny of this amount while another family of the same size receiving but twelve dollars a week later sighed one or two dollars a week managing to do this by refraining from purchasing things which seem to be necessary but which could be dispensed with. So you know the element here is praising the. Family that saves versus the family who spends every penny OK So the goal here is to have some extra Now this isn't very interesting. Is I want to look at the proportions here L.-Y. says just comparing two families one family makes twenty dollars a week the other family makes twelve dollars a week the family makes twelve dollars a week how much are they saving so when they do dollars but as a percentage of their income what percentage are they saving OK let's do the math. Twelve dollars if you divide two dollars out of twelve it's about seventy percent two dollars is about sixteen point six repeating so it's between eight to sixteen seventeen percent if you're making twelve dollars and you're saving one to two dollars So let's just multiply this percentage out so what in today's numbers with that represent if we're just rounding up the seventeen percent say twenty fourth. Thousand dollars in earnings a seventeen percent savings rate would be about four thousand dollars forty eight thousand dollars would be about eighty thousand dollars eighty thousand were about thirteen thousand six hundred so just keeping this in mind when Ellen Weiss says save this family the earned twelve dollars saved one of two dollars when we read that with our filter today we said oh yeah I can save one or two dollars no problem but when we multiply out the poor poor Shinde to what the earnings would be today we're talking about much larger Islam so the question is are we saving for a thirteen thousand dollars a year because that's actually what I was recommending proportionally speaking we're going to come back to this point a little bit later but the point of the question is am I being financially responsible simply by not spending everything the answer is not quite living within my means means to have a surplus so I paraphrase that statement with modern day numbers so let's read it again I have known a family receiving eighty thousand dollars to spend every penny of this amount while another family of the same size OK very good qualification there receiving about forty eight thousand laid aside eight thousand a year managing to do this by refraining from purchasing and this is my paraphrase gadgets cars clothes music containment toys etc which seem necessary but which could be dispensed with. Does that make more sense now well what was saying so you notice this family made eighty thousand and spent every penny this family at the same size lived on half forty thousand and save eight thousand. That's what Ellen White is recommending as far as financial responsibility so what does it mean to live within my means it means not spending more than what I earn now and also saving enough so I don't have to spend more than what I earn in the future that's what it means to live within my means all right question or two. We can never be too liberal in giving to God's call for means in other words we can never give too much during the offering a few. Good no peer pressure Nobody's saying anything out loud how many of you think this is a true statement that we can never give too much are a few I mean if you think this is a false statement. And then there's about fifty percent who are like just tell me the answer. Well this was fascinating to me because look what it has to say Letter forty one eight hundred seventy seven paragraph ten you are in danger of being what too liberal when there is a call for means and you realize the word liberal here what is not liberal conservative you know theological spectrum cultural whatever we're talking about giving the liberal giving attitude you might be too liberal why she says selfishness has something even to do with this wow we can give too much because we're selfish What does she mean by that you wish to be thought of as having plenty of means at your command. So we are giving out of show it's like a fair sees it's like they drop their coins as high as possible so they can make the biggest claim in the in the offering plate don't do that but actually she doesn't quite say don't do that notice what is very careful with her words she says and you also wish not to be behind others when there is a demand for means this feeling is not to be condemned so she's like if you want to give all your money I'll take it. Unless there's a qualification unless you are liberal before you are just and do not quickly settle your justice. What is L M I saying. This is my paraphrase of this last section. Giving more to God does not absolve us of failings in other areas of our Christian experience because guess what this is the five hundred year anniversary of Martin Luther nailing the nine for the Z.'s What was he railing against indulgences and what are we doing when we drop like OK God you know I know I haven't been spending as much time in your word and I haven't been a good person I'll just write you an extra check that's the ad. Gents that's salvation by works I don't know woman come to me once she was in tears and she said my husband we're like drowning in debt I can barely put food on the table and he's already giving it double tied he wants to give a triple tide can you talk to him So what this guy was thinking was God will take care of my family. As long as I just give him more money but he wasn't going to work he wasn't paying off his debts he was stressing his wife out and he was not performing his husbandly duties of taking care of his household the Bible actually says if you don't take care of your house well you're worse than an infidel and he was thinking that by giving more to God it would counteract or like it would pay off the sins and other areas of his life look as Evan as we don't believe in selfish by works in any type of way and that's a species of that kind of thinking so is it possible to be too liberal to give in a call for means yes sometimes it is possible to give too much when it is as an excuse to not perform duties in other areas and this whole seminar of this hour we're going to talk about what the financial laws of health are that are going to help us know what those responsibilities really should be OK So a question of a three quiz question over three True or False having insurance demonstrates a lack of faith in God's providence. Anyone And one thing that's true. You know it's easy to say that but than when we look at how much health insurance costs at least for those of us who live in the United States if you're out of the United States you're probably looking like health insurance what's that but for us here in the United States you know it's a big deal you look at how much it cost and all of a sudden it's like oh well. I'll just trust and go. Oh good all of the HELP message right we're going to talk about insurance in the next session but one right after this but notice what Elena has to say about insurance this is actually really why her son remarking on what Ellen White has to say this August five nine hundred twelve really White says this We do not find in mother's writings any condemnation of the practice of insuring a property against fire mother has always regarded this as very different from life insurance and there's always questions about life insurance we're going to talk about that next hour she keeps her own buildings properly insured as a and has encouraged some of our brethren having the charge for institutions to do the same issue pro insurance very clearly so and that's L.L. I mean all right so let me go to next slide you must be thinking but that's really what that's not what he's not inspired Well let's see what I want to say this Ellen White writing to Willie letter seven thousand eight hundred eighty I wish you would see that house at Healdsburg is in short talk to listen about it I feel anxious in regard to it four years later she says Brother Palmer says he has written to you in regard to the insurance if the house is not issue an issue be at once Ellen White insured her home she is not against insurance but she did have some statement about life insurance I grant you that we're going to talk about that next hour so insurance. That was question of the three questions before investing is only for people who make lots of money it's true or false. Shira. Does anyone have anything to save other vesting. Selected messages Volume two page three thirty paragraph two three. Excuse me this was a statement read Wynter nephew a young man F.T. Belden you know him as the composer you might have had even from your limited wages means in reserve for any demand it might have been invested in a lot of land which would be increasing in value but for a young man to live up to the last all here and she was a great lack of calculation and discernment so was Ellen White anti investing clearly not but qualification does this statement now give us the liberty the license to just go invest in anything and everything under the sun No OK So you've got to understand what I'm saying Ellen White encourages wise prudent careful conservative investments but she's not giving us license to just go willy nilly do whatever you want and we're going to talk about principles on investing right after lunch as afternoon that's our and we'll be including bitcoin in that discussion right number five last question. And this one will launch us into the rest of our seminar God helps those who helps themselves is this a true statement or falsity false who says true. OK who says false. OK. See what to refer to say. OK So before we go to this quote Actually I want to spoil it there is a story right in the end of the book of Acts Paul is going to Rome he's on the ship with his companions prisoners and they set sail from Crete he says don't go don't go they get caught in the storm they're fighting the storm for days. And you member what happens God sends an angel God sends an angel to Paul and says not one person is going to be lost on the ship not a single what and Paul stands up and says says everyone eat some food you need some nourishment because none of you are going to die have faith in God Notice what it says and sketches from the life of Popish two sixty seven paragraph one at these words. After Paul explains what the angel told him passengers and crew roused from their apathy and put forth all possible exertion to save their lives there was much much yet to be done every effort within their power must be put forth avert destruction wait a minute and Angel just told Paul No one is going to die and what is their response they put every effort into saving their lives that's not doesn't sound contradictory is like where's your faith man God just told is going to save you while you're saving yourself in other words he says for God helps those only who helps themselves I want you to understand this we're not talking about salvation by works we're not talking about us minting anything from God but we're talking about the principle of how God operates God does not do for us what we can do for ourselves he gives us the power he gives us the counsel he gives us the strength the wisdom the help the support we need but we make the choice we make the effort let's elaborate this point even further and this is going to build into the whole personal financial discussion because this is undergirding really the theme of a lot of what we're going to talk about this week in prayer and effort effort and prayer will be the business of your life you must pray as the efficiency and praise were all due to God and labor as the duty were all your own if you want power you may have it as it is awaiting your draft upon it only believe in God take him at his word act in faith and blessings will come this is in reference to a couple of biblical principles faith without works is what is dead if I say I have faith and no works I don't really have faith so when we say I believe God's word I believe that he can help me get out of debt but I'm going to sit here and do nothing until God delivers me. You understand that that doesn't work so let's let's just illustrate this through analogy OK I think this analogy and this old tie into the. Topic the name of the seminar right now you can train yourself to enjoy a healthful diet she says revealed Carol February tenth one thousand ten program fourteen she said I'm on the health message OK so this statement is in the context of the health message and when to tie it into personal finance in just a moment so talking about the health a healthy diet to give up meat and to stop eating so much processed food to cook for yourself and all the stuff right the Lord helps those who seek to help themselves and we can say I'm into that if I want to you know eat a vegetarian diet I have to put forth the effort to learn how to eat properly to follow the laws of health and all those kind of things but when men will not take special pains to follow out the mind and will of God How can he work with them the principle here is of cooperation in right just like in our health with our financial health it's the same way we have to eat properly exercise rest get sunshine fresh air we have to follow the laws of health and God blesses us when we follow his ways with our money if the same principles God gives us laws of financial health as long as we follow them God blesses us OK but God helps those who helps themselves in this context we have to put forth the effort we have to follow the mind and the will of God and act out our part working out of salvation with fear and trembling so that takes us to this verse third John verse two beloved I wish above all things that the ME is prosper and be in health even a special prosperity so there are three things here prosperity and clearly in the context talk about material prosperity or having the income to support the family and have your needs met to be in health to be healthy and to have prosperity of spirit these are the three things that John wishes upon the church is writing to and so we just talked about how do we be in health. If by following the laws of health. I like new start is very easy to remember a lot of help there are more. So I thought wouldn't it be helpful if we can consolidate the general principles of financial wellbeing into the eight Laws of financial health OK so that's what this is eight Laws of financial health and here they are eight. This is not an inspired list of the principles are inspired but this is a list that I put together using the principles I've studied out so numbers of one two three four five six seven eight so we're going to go through them each one very quickly does an overview so we're not going to dwell on the each one. For long the principle number one is ownership. It's not our money God is the owner of everything the Bible makes is very clear some twenty four verse one the earth is the Lord's and all its fullness the world and those who dwell there in it some fifty verse twelve if I were hungry I would not tell you for the world is mine and all its fullness everything belongs to God We are merely his managers. Across object lessons page three fifty one paragraph two Some think that only a portion of their means is the Lord's usually the we think that way about the ten percent yeah I'll give God his ten percent the rest is mine no. One hundred percent belongs to got ten percent just happens to be the dividends that we return to the owner the ten percent tied is just a reminder that we are not the owners. When they have set apart a portion for religious and shuttle purposes they regard the remainder as their own to be used as they see fit but this is the mistake we all we possess is the Lord's and we are accountable to him for the use we make of it this is G Y C So I'm not going to believe at this point but the summary is simply this we are managers of what is placed within our care and we are countable to God for how we handle this money this undergirds everything that we do how we view. Our financial management God owns it OK So Principle Number two. Earning. Must work for food and this one I'm going to spend a little bit more time on because I think it's important if you know Harold March one eight hundred eighty seven paragraph nine says this the desire to accumulate wealth is an evil carnal selfish aspect of our nature is what is US. But isn't that frequently how we view it because. We know the pull of greed we know that it's bad we hear about it on Wall Street and in the news but what we're told here is that the desire to accumulate wealth is an original affection of our nature implanted there by our Heavenly Father for noble ends. God is the one who gave us the desire to prosper to build to innovate to create to earn to gain. But. We also have to remember testimonies for the church volume six four fifty two Paragraph four that money is to be earned by labor every youth should be trained to habits of industry So while God has given us the desire to accumulate wealth he also tells us what the proper way of gaining it is through labor through work OK we're going to talk about get rich quick and things like that when we talk about investing but this is a undergirding principle it is not a sinful desire to gain wealth at the make that very clear greed is Bat covetousness is violating the Ten Commandment Yes that's all right and true but the desire to accumulate wealth comes from God but to do it in the right way is to work. OK Well even before sin Genesis two fifty two fifteen and the Lord took the man and put him into the Garden of Eden to dress and keep it God gave man work even when he didn't quote unquote have to work Genesis three nineteen after the curse of sin in the sweat of their face that you eat bread till that return to the ground after sin we had to work working was correlated to having sustenance and food for tables Paul says this testimony is three ten for even when we were with you this we commanded you that if any would not work neither should he eat like that one you want to work well go hungry so there is a very clear correlation in Scripture if you want material possessions if you want to supply your needs work learn how to work be a good diligent worker have a good work ethic show up on time give one hundred percent learn how to make other people value you as a part of their team so much we can say about this. But. I guess I can't help myself I have to say a few things where a G. Y.C. right would young people a few point to statements regarding earning money and the youth Agnes home page three eighty seven paragraph one money which comes to the young with little effort on their part will not be valued. How true. Some have to pay money by hard work and privation but how much safer are those youth who knows just where they're spending money comes from who knows what their clothing and food costs and what it takes purchase a home. You can tell the person who had to work hard and really scrimp and save let's say they're buying a computer or a camera car whatever it is you can see the difference between the person who works for themselves and the person who got it for free they want to work for is out there polishing that thing right it's like nobody don't breathe on my car. Or. Other people like to get out doesn't matter if you crash it didn't cost me anything anyway. Let's take this one step further. Evidence home same page three eighty seven paragraphs three three there is such a thing as giving unwise help to our children speaking about college and particularly going to talk about college when we talk about debt as well but here I have to insert this those who work their way through college appreciate their advantages more than those who are provided with them at someone else's expense for they know their cost we must not carry our children until they become helpless burdens. Ouch. You know there's a book called The Millionaire Next Door and they did some research on millionaires in the United States and they found that the majority of millionaires in the United States are first generation rich generally they're immigrants they come to this country with nothing and they bootstrap they work hard they do the dirty job they start their own businesses many of them they they drive use cars and they move up the social economic ladder and by the time they have kids and they're in high school whatever they become upper middle class meant millionaires I don't know if you're open middle class but they become millionaires and they live this affluent lifestyle and so their kids grow up in this culture this standard of living so to say but what happens is these parents they think by they think that in order for them to really provide for their kids what they should do is to prevent them from having to go through what they went through I don't want you to have to work to study especially in the Asian community just study I'll do everything for you you just study and go to Harvard OK just just do that be a doctor. And what happens is there's a there's a there's a term a phenomenon that these researchers called that economic outpatient care. What it is these kids they go. They go to college and they are they have no idea how to live they don't know how to make money they don't how to work they don't have to take care of themselves but they have been accustomed to this high standard of living in modern day to be like what you mean I can have the i Phone ten it's only a thousand dollars mom and dad always got me my phones but I'm a college student so I don't earn anything so mom and dad you know the new i Phone came out you know can I have one. And mom and dad is like oh yeah of course we've got to help our children right that's how that's what they think helping their children unwise help to their children and so this economic help patient care what happens is that these kids grow up with the standard of living parents are subsidizing their lifestyle and then they get out of they get out of school and they're still not able to make ends meet they have to live in the certain lifestyle the neighborhood they don't earn that much money yet and you know what happens the first generation rich millionaire family more often than not the millionaire It's and after the first generation the second generation are no longer millionaires because guess what they never learned to work. They became helpless burdens economic outpatient care and you know the if you pay attention on social media much this is somewhat of a millennial phenomenon there is this concept of why should I have to work I deserve this so you have to give it to me this kind of attitude is contrary let's just put it mildly contrary to what we were told in this bit of prophecy earning the second principle here that we're talking about financial laws of health we have to learn how to work because God gave us work as a blessing and that's the means by which we provide for our needs we could talk more about this but let's leave it there for now we've got to move on Principle Number three giving it it is a reminder that we are the owners. Most of the time when we talk about personal finance we spend a lot of time talking to Todd's and offerings on the stewardship components I'm being somewhat radical and I am not talking about it at all in the next five hours but there's a reason it's because number one I already talked about it in the last seven are two years ago so if you want to find out more of what I have to say about tithing offerings in the spirit prophecy councils and some of those things you can have to do some homework and go back and check that out but the other reason is because it's an area that there are so many good resources within the church I don't feel the need right now to reinvent the wheel let someone else picked up and I'll focus on things that have been discussed but regardless of that I do want to share a couple of tidbits regarding this that shaped my philosophy and how I view giving so we talked already about how the tide is simply a dividend that we return to the owner it's not like oh here's your ten percent here's my ninety percent No it's Here's a ten percent dividend so that you know the hundred percent belongs to you account of the stewardship a three point six paragraph two says this they meaning the service of God should not allow the amount given to God to be disproportionately small when compared to that appropriated to their own use. So I mentioned earlier when I showed you my percentages this quote is the reason why I was so pleased that we had finally reached a point where we had you know trimmed our spending and manage our finances in such a way that the amount that we spend to live is less than the amount that we actually give so now we give more than we spend on our own on our own expenses now I'm not saying that everybody has to do this I think it's a good goal to strive for but this is not something that is reasonable for everyone to do right now but I think this statement gives us the concept like that's something that is worthwhile to. Achieve through our budgeting in financial management and we'll talk about. And how that all works this afternoon. Another statement here gives us some balance testimonies for the church volume five page one fifty six paragraph one brother and away from your life of selfishness and act like consistent Christians the Lord requires you to economize your means and let every dollar not need it for your comfort flow into the Treasury or so yes on one hand and what is making very clear you need to give generously but she gives this qualification the dollar is not needed for your comfort so Ellen why does not saying Give got all your money. Where rags you know eat dog food and live in a cardboard box she's not saying that same provide for the needs of your family the comforts and conveniences of the home but if you have a surplus everything you don't need remember God work has needs and if you have the capability you should give so these are some principles and I'll just give you a little me a little teaser for the seminar I did two years ago on tithing and offerings. We know the ten percent tithe that's what it means ten percent but element actually gives counts on how much we should give in offerings as well and it might be surprising to you what that council is but you're going to go and do your homework to find out what that those statements are but suffice to say right now for this seminar we just need to remember disproportionate the proportion we should strive to give God more than what we spend for ourselves even while recognizing God is not opposed to us providing for the needs and comforts and conveniences of our family so we're going to continue on this theme so let's talk about spending now because really is the core of all this that we can control our spending we can manage a lot of the other things the spending Do I really needed and I might write this testimony for the church going nine page one thirty one paragraph one my. Or than a sisters you must be willing to be converted yourselves in order to practice the self-knowledge Christ dressed plainly but neatly spend as little as possible on years upon yourself to. You know we say this we read this and immediately we think. Man that's like harsh such a taskmaster she's saying spend as little bit on yourself as possible. While you up. But it's not to say that let me make this point clear spending as little as possible as possible find yourself does not mean spending nothing on yourself and that does not mean that you can't spend a little and still have quality you can still have a good standard of living a good quality of life without spending a ton of money so she's not saying yes just you know live without air conditioning and wash your clothes by hand and you know go barefoot she's not saying that but we associate her with saying that so to back up what I'm saying here tomorrow tomorrow seminar we're going to look at some very specific concrete tangible ways of how we can spend as little as possible upon ourselves while still living a comfortable standard of living so it's like if I can have an i Phone and not have to pay as much how can I do it right those kinds of questions how can I trim my budget while still maintaining my current standard of living there are ways to do that smart intelligent easy ways and tomorrow we're going to talk about that and this afternoon we're going to talk about budgeting and how that all plays into this picture so you want to come back we're going to about specific ways of accomplishing this. Testimony for the church for Page five eleven paragraph two This one's a tough one he also calls upon those of mature age men in God to stop when when they're examining a gold watch or chain or some expensive article of furniture and ask themselves the question would it be right. To expend so large an amount for that which we could do without or when a cheaper article was serve our purpose just as well. This is a tough one because substitute this gold chain or gold watch chain or some expensive article of furniture substitute it with what you will because in a Paris. I Phone ten Tesla Model S. I don't know what it is. You fill in the blank and she same before you put that card credit card number down ask yourself the question Do I really need it. I've got to perfectly fine operating cars in the garage do I need this next car my i Phone seven is working just fine Do I really need the face idea an i Phone ten Do I really need it when it's just as good as what I have right now we have to ask those questions OK. But we do have the balancing statements I want to be very clear about this and why also says Amazon page three seventy nine paragraph three God does not require that its people should deprive themselves of that which is really necessary for the health and comfort but he does not approve of wantonness and extravagance and display so you see that the balance here she says don't spend everything on yourself but neither should you not spend anything on yourself you should have health and comfort Here's a good one I miss home three seventy nine forgot to we cannot make the heart pure or holy or by clothing the body and sackcloth of depriving the home of all that ministers to comfort taste or convenience. L.-Y. does not teach salvation through self-effacement or self deprecation that's also another form of Adventist penance for Agnes indulgence we seem to think oh I'm holier because I live a more impoverished life. Listen. Poverty is not the path to holiness riches is not the. Holiness either Jesus makes that clear is difficult for a rich man to enter into heaven and all that but neither does poverty grant us entrance into the kingdom of heaven. Just because we choose to be cheap doesn't make us better than anyone else doesn't entitle us to more of God's favor so we just have to remember the balance. Buy with quality buy affordably but do not spend so much that we are forgetting to give the God's work all right Principle Number Five got to keep moving here debt this one is pretty simple to grasp what should we know about debt get out and stay out that's it OK we're going to talk about debt this afternoon with about student loans how to buy a car without without a loan and how we paid off our house and all that but these two statements I think will suffice for now Proverbs twenty two seven The borrower is servant to the lender and some translations a slave and we are told no man can serve two masters particularly in the last days we have to be very mindful about being in debt it to a lender when God is calling for full of legions Agnes home page three ninety three Paragraph four be determined never to incur another debt deny yourself a thousand things rather than run in debt this has been the curse of your life getting into debt avoided as you would the smallpox. So it slavery is smallpox neither very appetizing things to consider and wise as get out of debt stay out however I will mention this in a little teaser of this afternoon Ellen what borrowed money she had debt so was she a hypocrite was she going contrary to her counsel Well this afternoon we'll talk about rules for acceptable debt when is it actually OK and all that so you have to come back for a fourth session this afternoon for that OK Number Six Principle Number Six financial health law number six investing and saving we need to provide for the future. Counts as a student. Fifty paragraph two had you and your wife understood it to be a duty OK that's a strong word a duty that God enjoined upon you to deny your taste and your desires and make provision for the future instead of living merely for the present you could now have had a competency and your family have had the comforts of life there's a term again the comforts of life so it is appropriate to save up in order for families to have some comforts but the point here that I'm trying to make is when we think about investing and saving elements Council has it's a duty to make provision for the future go to the sluggard consider her ways and be wise. And sometimes we have this I don't want to sound too harsh but the term I think of is magical thinking we don't believe in magic but somehow we think that by believing in God that somehow magically He will provide for our needs it's the same thing as a financial health we think OK if I believe in the health message and I believe in God somehow he will just magically improve my health without any effort on my own Well guess what that's not how it works there is laws of nature laws of help laws of cause and effect and then the financial health is the same way we can't expect God to provide miraculously for us when we do not follow the counsel he's already given his counsel as you make your best effort to fall of the duty of making provision for the future and trust in me and I'll take care of you but if you're not making any effort use your saying with your mouth but your with your actions show that you don't really believe faith without works is dead OK so let's put forth the effort do what we can and trust God to make up the lack so this one is very interesting continuing on the theme of saving and investing. So much here makes the statement in evidence on page three ninety six paragraph to talk about how much to save. So how much should we be saving every week you should live by in some secure place five or ten dollars not to be used up unless in case of sickness with economy you may play something at interest in placing something at interest means investing there's no other way to put it with wise management you can save something after paying your debts and this statement was made in eight hundred eighty four so let me ask you this question How many of you think that you can save five or ten dollars a week so a pretty pretty reasonable. Pretty simple right five ten dollars week but when was a statement read again. Eight hundred eighty four. Did the value of five to ten dollars change you think from eight hundred eighty four to today you understand the principle inflation how works right so this what I thought was interesting because I read this statement like five ten dollars yeah. No problem I can do that. Is that really what she meant like Did people read that five or ten dollars Oh yeah yeah I can do that no problem or what she actually talking about a larger sum case and let's take a look let's take a look so I looked at and inflation calculator in the on line to to run the numbers so an eight hundred eighty four five to ten dollars per week would be twenty or forty dollars per month or two hundred forty or four hundred eighty dollars per year so we look at those numbers today with today's numbers and we like. No big deal but what do these translate into in twenty seventeen OK let's take a look. Five to ten dollars becomes one hundred twenty to two hundred forty dollars a week which means for eighty to nine hundred sixty per month fifty seven hundred to eleven thousand five hundred per year. Does this give a little bit different flavor to elements Council. When L.S.S. say five to ten dollars a week she's not saving she's not saying let's just save a quarter or a like ten cents she is talking about actually saving a lot she's not just saying Yeah just put away whatever crumbs you have she's talking about a large sum but you remember that's not all she said she said you should put away the five to ten dollars a week but with the economy you can play something at interest so let's add that to the picture what would that look like if we added interest to it so play something of interest and I'm going to before show you the chart I use an eight percent rate of return primarily because that is the rate of return for the stock market a large S. and P. five hundred for the past one hundred years or so so eight hundred or eight percent if you get S. and P. five hundred index fund in your retirement account or something like that that's where the eight percent comes from and this is what the numbers turned out to be in thirty years so if I was saving fifty seven hundred dollars a year for thirty years at eight percent interest at the end of thirty years I would have seven hundred thousand dollars if I'm saving eleven thousand five hundred in thirty years I would have one point four million dollars If we just followed on one's counsel and I'm not saying you have to get a percent you realize I'm using eight percent because that's market returns over a long period of time but even five percent three percent you can understand that with the compound interest and the continual saving of what she said just a mere five ten dollars a week quotes. We would have a significant amount of money saved up for emergencies health expenses retirement and for returning back to the work of God and let me just make this one point where Adji Y.C. We have all these calls for missions calls for missionaries and people who work in ministry look. I work a minister right now and I'm still able to save. And over a long period of time or even if you're in a profession where you make a lot of money over a short period of time you can put away money at interest so that you never have to fundraise for your missions again you understand this and we're going to talk about the principle of self-reliance in the next next seminar session but can you imagine if we have self funded tent making missionaries that do not require constant fund raising efforts all of a sudden God's work takes a different dynamic doesn't it young people can instead of being saddled with debt young people with wise investments why savings conservative portfolios can go and work without the requirement of constantly asking for money just a thought to put into your mind and all of this by simply following the counsel that we've been already given save up invest put something in interest so it's anti investing clearly not but within the context of using that to propel God to work not to Get Filthy Rich OK we have to be very clear about that principle number seven legacy we need to make a lasting difference I'm going to make two points on this there's a lot of material available on this point already but councils of stewardship is three twenty five paragraph one it is. Utter folly to defer to make a preparation for the future life until nearly the last hour of the present it is also a great mistake to defer to answer the claims of golf or liberality to its cause until the time comes when you have to shift your stewardship upon others simply put make your wills while you are still healthy put a state plan in place so that the final act of your stewardship is not going to get passed on to the state or have someone else handle the distribution of assets that God has given to your management because remember God gave you this money to manage for him he's still going to hold you accountable even after you're dead in the judgment when it comes up he's going to look at the records and you can say was he a faithful steward in his last act of legacy so the the simple principle here is make a will. Or a trust or whatever it might be in a state plan OK And there are a lot of resources you go up stairs every large nonprofit advocacy ministry will have probably a trust services department and they'll help you with that another statement here on legacy about children in particular three ninety paragraph one the very best legacy which parents can leave their children is a knowledge of useful labor there is that there it is again we just talked about this children should learn how to work that's the best legacy and the example of a life characterized by disinterested benevolence by such a life to show the true value of money it is only to be appreciated for the good that will accomplish in relieving their own wants and the necessities of others and in advancing the cause of God There is a state of. I almost call him Ellen I know Warren Buffett he is not inspired Warren Buffett says something I don't agree with everything says you realize but one thing he said that had a good ring to it that I think harmonize with this. He says as far as inheritance is go because one of the wealthiest men in the world does leave your children enough that they can do anything but not so much that they can do nothing. I think that's very practical and in our context I don't even think that to do with money you don't have to leave children lots and lots of money if they have special needs or whatever in their young Yeah I understand. But teach them how to work give them a good Adventist education teach them how to fend for themselves how to work for God and that is the absolute best inheritance you can give your children and guess what the best inheritance of all is an inheritance in the heavenly kingdom raise them to serve and love Jesus so the best legacy for your children is not to give give them tons of money so they can just sit around and be trust fund babies but teach them how to work all right so this is a recurring theme you realize. So Principle Number eight trusting God So at the end of New Start a lot of financial aid laws of health we end with trust in God and in the health context the reason why we mention that is because it doesn't matter how well we follow the laws of health ultimately it's up to God to make up the lack we live in a sinful world our best efforts amount to nothing in the financial realm if similar we can do our best to get out of debt work hard you know take care of our families and invest but bad things happen emergencies happen things may still go wrong and that's where we have to remember where our trust lies we're not to trust in riches we're not to trust in our investment portfolio we do those things not because they're going to save us we do those things because we are following the Celts of the God has given but realize at the end of the day if it doesn't work out we have a God in heaven who we commit our trust to so it's an experience that I had about this is when I was going through graduate school so my wife and I we were just married in two thousand and ten and I was starting a graduate program a Southern in January of that year and I was looking for work we had decided that we wanted to go through get my masters degree debt free as far as possible so I was willing to work she already got a job and I was. Hunting for a job that I could do while I was in school nothing just everything was coming up blank no response no interview nothing and so I was already a week into my semester and I'm thinking we hadn't even rented a place we had a friend who let us stay in their basement until we figured things out and we didn't know what apartment we could afford because we didn't know how much money we're going to bring in then we were and I was trying to do homework and I was so distracted in all of this and it was cold in January and. So here we are. Let's put a pause on the story in this rewind back to the previous summer. So it was the summer of two thousand and ten and you remember that was G C session in Atlanta Georgia in two thousand and ten we were visiting some family Heigho Ohio and we were driving down through College Hill southern to go to Atlanta for the G. G. C. session and I decided to stop by the Business School a southern to take your some paperwork meet my advisor things like that because I was going to start in January so I walked into the office the business department office and I was talking and cross the bill across the room someone shouted Hey you hey you I know you and an elderly gentleman came running over to me and my wife my fiance at the time and he said were you two driving in a white car on Interstate seventy five heading south yesterday around two o'clock in the afternoon I'm like what who are you reach the yeah that was us he said Oh you won't believe this my wife and I were in the car we're on the freeway and we looked at your car and our license plate cover it said Loma Linda that's where I'm from originally and my car the license plate cover to Loma Linda and they looked at that and they looked at us and they said those young people look like advantageous and I bet they're going to the G C session in Atlanta. So it pays to look Adventist. When. Whatever that means whatever that means but this gentleman he looked at me and he was he he looked at me and my wife and he was like Yeah you know that was amazing my wife and I were just talking about you guys and we remembered you and now here you are my office and you can be one of my students was in this amazing so we did the paperwork we walked out of the office and my fiance at the time my wife now we looked at each other we said that felt like a divine appointment we don't know why but something about that like that so often. Turns out that that gentleman was the dean of the School of Business and now retired but he was there at the time and. That's right I just found out he came out of retirement he came out of retirement Dr DONVAN Oram he's a friend so he came out of retirement he said we are now so at any rate I came back to school in January and I was in this dark cold basement and I still remember I was doing accounting homework it's like how much more depressing can life get don't have a job don't know where I'm going to live I'm in school I don't know how I'm going to pay it off and I have to do accounting homework in a cold dark basement so I was sitting there and then the email came in from the dean of the School of Business one line haven't found a job I've responded so fast you want to believe it as a no I have not he wrote back the please come to my office right now so I said great great excuse not to do homework so I went in his office and long story short there was a graduate assistant position opened working for him particularly and I was the first name that came to his mind now why do you suppose he remembered me. God placed us next to each other on the Interstate six months earlier heading to the G C. Trust in God People we do the best we can but you've got to understand something did I have to work you better believe I had to work I didn't have any vacation or semester was this long I. To work these number of weeks before in these number weeks after which met no vacation I had to extend my program because I couldn't work so many hours and take so many classes so it took a little bit longer. We had to live in a small apartment we had to make some compromises some choices but because we were willing to go through the first seven of these financial laws of health when we came to a point number aid God said Here you go have at work hard all bless you. So remember whatever the mountains might be in your life financially maybe it's debt maybe as some sort of other financial need that you have in your house or family issues or whatever trusting God do the best you can follow the laws of health he's given to us and put the rest in his hands he will take care of you so let's finish up here we have. Our guests turn this thing off. We have eight Laws of financial health ownership earning giving spending debt investing Legacy Trust in God and I thought new start is so nice it's so easy to remember Wouldn't it be great if we could make a nice acronym to remember this another monic write to fix it in our minds so I said Oh let's take a look at the let's take a look at the first initials and. Yeah. No. I don't think that's going to work so I took these letters and I put it in a little anagram solver online and so I certainly let's see what comes up with here's a first option. Gold iest is that is that even a word. But. It's got the word gold in it so it must be somewhat relevant right I thought but then I realized hey if I just switched these two letters all. Moot. All right so here is what I came up with or write another monic to help fix these laws of financial health into our minds let's see if it works for you. So that eight Laws of financial health helps us to use our money in the godly is to weigh not to have the goal the grave. You like that sort of thing I know it's corny. It's cheesy but if it works if you remember it then I've done my job OK so the eight Laws of financial help helps us to use our money in the godliness way not to have the gold used greed so we our goal is not to be the richest man in the graveyard our goal is to give glory to God Amen and so that brings us to the conclusion of some of our session number one let's bear has for prayer as we take a break Father in heaven thank you for being with us this hour for your clear principles and guidance on how to manage your money because truly it is all yours we are merely your managers give us wisdom Lord and help us when we hit road blocks when we do our best and it's not enough or you are more than able to make up the lack of help us to be faithful in giving our best effort to follow your will closely guide us of the rest of the seminar and the rest of you I see we pray Jesus. This message was recorded at the G Y U C twenty seventeen conference arrives in Phoenix Arizona. G Y C S A pretty Ministry of the Seventh Day Adventist Church seeks to inspire young people to be bible beast Christ into. And so when Christians to download or purchase other resources like this visit us online at W W W dot G Y C Web dot org.


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