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1 The Christian & Finances Biblical Principles for Money Management ABC District All Church Workers Conference ABC District All Church Workers Conference.

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Presentation on theme: "1 The Christian & Finances Biblical Principles for Money Management ABC District All Church Workers Conference ABC District All Church Workers Conference."— Presentation transcript:

1 1 The Christian & Finances Biblical Principles for Money Management ABC District All Church Workers Conference ABC District All Church Workers Conference Radisson Hotel South, Edmonton, AB Radisson Hotel South, Edmonton, AB Oct 18-20, 2010 Oct 18-20, 2010 Sessions: Wed Oct 20, 1:30 - 2:50 PM Sessions: Wed Oct 20, 1:30 - 2:50 PM Wed Oct 20, 3:00 - 4:30 PM Wed Oct 20, 3:00 - 4:30 PM

2 2 Financial Freedom Team – Who are we? Al Feth, Gift Coordinator Lutheran Foundation Canada, Kitchener, ON Al Feth, Gift Coordinator Lutheran Foundation Canada, Kitchener, ON Rev Mark Danielson, Pastor, Trinity Lutheran Church, Fisherville, ON Rev Mark Danielson, Pastor, Trinity Lutheran Church, Fisherville, ON Brian Wonnick, retired Gift Coordinator, Lutheran Foundation Canada, Regina, SK Brian Wonnick, retired Gift Coordinator, Lutheran Foundation Canada, Regina, SK Brian Lewis, retired financial planner, Williams Lake, BC Brian Lewis, retired financial planner, Williams Lake, BC Kurt Robinson, Business Mgr, ABC District, Edmonton, AB Kurt Robinson, Business Mgr, ABC District, Edmonton, AB

3 3 What we Saw in the 2008 Financial Storm Lack of critical thinking, worst case scenario planning Lack of critical thinking, worst case scenario planning Easy credit Easy credit I want it now I want it now Confusion over needs & wants Confusion over needs & wants Rising education debt Rising education debt Expecting home values to keep on rising Expecting home values to keep on rising

4 4 What We Saw in the 2008 Financial Storm, cont Couples, both working, good incomes, managing poorly Couples, both working, good incomes, managing poorly Soft Govt financial institution regulatory enforcement Soft Govt financial institution regulatory enforcement Weakening of Govt financial institutions regulations Weakening of Govt financial institutions regulations GREED GREED

5 5 Emerging Trends to Deal With Root Causes Ontario Dept of Education – Financial Literacy education Ontario Dept of Education – Financial Literacy education Till Debt Do Us Part TV show Till Debt Do Us Part TV show June 30 Financial Post Lack of financial literacy will lead to problems later June 30 Financial Post Lack of financial literacy will lead to problems later Regina LP May 6 Mortgaging our future: a generation of debt Regina LP May 6 Mortgaging our future: a generation of debt Financial planners add cash flow management to their services Financial planners add cash flow management to their services

6 6 THE BURNING QUESTION HOW DO WE SIEZE THIS OPPORTUNITY TO INCREASE FINANCIAL LITERACY AMONGST GODS PEOPLE? HOW DO WE SIEZE THIS OPPORTUNITY TO INCREASE FINANCIAL LITERACY AMONGST GODS PEOPLE?

7 7 Trends Within the Church Financial sustainability, short & long term – challenging Financial sustainability, short & long term – challenging What must we do to ensure that our children & grandchildren continue to financially support the spreading of the Gospel? What must we do to ensure that our children & grandchildren continue to financially support the spreading of the Gospel? Where do young people & young adults go to receive cash flow management training in the context of Biblical Stewardship? Where do young people & young adults go to receive cash flow management training in the context of Biblical Stewardship? What is Christian Estate Planning? What is Christian Estate Planning? Make this training available to all, an outreach Make this training available to all, an outreach

8 8 Why We Came Together? To provide Biblically based training & education on cash flow management To provide Biblically based training & education on cash flow management To provide training & education on Christian Estate Planning To provide training & education on Christian Estate Planning Where? – all LCC congregations & institutions throughout Canada Where? – all LCC congregations & institutions throughout Canada How? By a group of individuals experienced & committed to this approach How? By a group of individuals experienced & committed to this approach

9 9 Our Core Resource The Christian & Finances, by Rev Mark Danielson The Christian & Finances, by Rev Mark Danielson Copyrighted 1990 Copyrighted 1990 Revisions 1994,97,99,2009 Revisions 1994,97,99,2009

10 10 Table of Contents Lesson 1: Financial Bondage/Freedom Lesson 1: Financial Bondage/Freedom Lesson 2: Receiving/Managing Money Lesson 2: Receiving/Managing Money Lesson 3: Budgeting. Who should budget? Obstacles to budgeting. A sample budget. Budgeting dos & donts. Lesson 3: Budgeting. Who should budget? Obstacles to budgeting. A sample budget. Budgeting dos & donts. Lesson 4: Living on a budget.Use/Misuse of Credit. Presuming on the Future, Borrowing, Co-signing, Credit Cards. Lesson 4: Living on a budget.Use/Misuse of Credit. Presuming on the Future, Borrowing, Co-signing, Credit Cards.

11 11 Table of Contents Lesson 5: Living on a Budget, Part 2. Working Wives, Getting Value for your dollar, The Art of Sales Resistance, Spotting the con-artists, Budget Busters Lesson 5: Living on a Budget, Part 2. Working Wives, Getting Value for your dollar, The Art of Sales Resistance, Spotting the con-artists, Budget Busters Lesson 6: Giving Money – The Tithe Lesson 6: Giving Money – The Tithe Part 1 – Why do we give Part 1 – Why do we give Part 2 – Who not to give to. Who to give to Part 2 – Who not to give to. Who to give to

12 12 Table of Contents Selected Bibliography & other resources Selected Bibliography & other resources Budget worksheets Budget worksheets Record Keeping Record Keeping Misc, Debt Listing, Working Wives Misc, Debt Listing, Working Wives John Does Budget John Does Budget

13 13 Advance Preparation Review Exhibit 1 – Monthly Income & Expenses Exhibit 1 – Monthly Income & Expenses - How many use something like this? - How many use something like this? - What did you learn? - What did you learn? - What are you going to do to address deficiencies? - What are you going to do to address deficiencies? - Also available in XL spreadsheet - Also available in XL spreadsheet

14 14 Advance Preparation, cont Exhibit 2 – Debt List Exhibit 2 – Debt List - What did you learn? - What did you learn?

15 15 Advance Preparation, cont Exhibit 3 - Balance Sheet – Net-Worth Statement Exhibit 3 - Balance Sheet – Net-Worth Statement Also available in XL spreadsheet Also available in XL spreadsheet

16 16 Advance Preparation, cont Exhibit 4 – Wills & Estate Planning Check- up Exhibit 4 – Wills & Estate Planning Check- up How many here have a will completed? How many here have a will completed? Why? Why? What is a Power of Attorney? What is a Power of Attorney? What is a Health care Directive? What is a Health care Directive? What makes a will a Christian Will? What makes a will a Christian Will?

17 17 What Makes A Christian Will Your Last Will & Testament Your Last Will & Testament What is the Testament Portion? What is the Testament Portion? How do we do it? How do we do it?

18 18 Next Steps Discussion on how to start these services in your congregation. Whos providing this type of education? Discussion on how to start these services in your congregation. Whos providing this type of education? Hows it going? Hows it going? Services – Education/training on Cash Flow Management; Christian Estate planning Services – Education/training on Cash Flow Management; Christian Estate planning Plans to start these services Plans to start these services For whom? Confirmation. Youth. Entering work force. Pre-marital. Approaching retirement. Early to mid retirement. For whom? Confirmation. Youth. Entering work force. Pre-marital. Approaching retirement. Early to mid retirement.

19 19 Resources See resource table - review See resource table - review Leave your contact info & e resources will be forwarded to you Leave your contact info & e resources will be forwarded to you See contact sheet for service providers See contact sheet for service providers Fees - $150 per session, plus expenses Fees - $150 per session, plus expenses

20 20 Other Resources Crown Financial Ministries www.crown.org Crown Financial Ministries www.crown.orgwww.crown.org Quicken www.quicken.ca Quicken www.quicken.cawww.quicken.ca Quick Tax www.quicktax.ca Quick Tax www.quicktax.cawww.quicktax.ca Microsoft Money Microsoft Money Christian Preamble Christian Preamble Funeral Service Planning Guide Funeral Service Planning Guide Living Will – Health Care Directive Living Will – Health Care Directive Power of Attorney Power of Attorney

21 21 Other resources Books Books - Finances & the Christian Mark Danielson - Finances & the Christian Mark Danielson - The Complete Guide for Young Couples Burkett - The Complete Guide for Young Couples Burkett - Financial Parenting Burkett/Osborne - Financial Parenting Burkett/Osborne - Everyday is Saturday Harvey & Harvey - Everyday is Saturday Harvey & Harvey - Generous Living Ron Blue - Generous Living Ron Blue

22 22 Other questions & Comments Thank you for your time today Thank you for your time today We hope to see you include this service in your congregation. We hope to see you include this service in your congregation. Please keep in touch & tell us how you are doing. Please keep in touch & tell us how you are doing. Please contact us for help. Please contact us for help. Closing Prayer Closing Prayer


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