1. MANAGING FINANCES For where your treasure is, there your heart will be also. (Matthew 6:21 ESV) Jonathan Lee China Outreach Ministries University of Minnesota May 18, 2013 1

2. Goals 2 Enable you to become more informed about personal finances. Understand personal financial issues and choices. Learn basic skills about managing money, no matter how much money you have.

3. Briefly: My Story 3 My Journey from Merrill Lynch to China

4. EVERGREEN FAMILY FRIENDSHIP SERVICE Serving Shanxi, Reflecting Christ

5. History Peter and Valborg Torjesen came from Norway in 1919 to serve in China. His school and his wifes medical clinic came to an end in 1939 when Japanese bombers struck his church while he and hundreds of Chinese refuges were inside. His family was spared…but he died….

6. Shanxi Province Three regions: Taiyuan (1993) Yangqu (1996) Yuci (2003)

7. Evergreens Purpose To assist Shanxi and other Chinese provinces by developing public benefit services for the common people, continuing the good works of Peter Torjesen, acknowledging Gods gracious calling in our lives, and reflecting the credibility of Christ.

8. Medical Work and Public Health Educational Programs Agricultural Development Business Incubation Orphan Care Global Consulting Family Services Areas of Professional Service

9. Back to our topic tonight: Review of Goals 9 Enable you to become more informed about personal finances. Understand personal financial issues and choices. Learn basic skills about managing money, no matter how much money you have.

10. Managing Money is Important to... 10 Meet daily needs; Deal with lifes occurrences; Handle unexpected emergencies; Take advantage of opportunities when they arrive; and Plan for the future.

11. Challenges to Money Management 11 Pressure on cash flow is persistent and urgent. Planning time period is short and related to immediate needs, e.g., expenses or school fees. Limited time to plan to save money for illness, unexpected social demands or the future.

12. 12 "My monthly income is how much? How much money is left for me each month? "My greatest financial burden is? Am I prepared to deal with this problem? Do I have enough money available if……" Personal Reflection

13. Concerning money, what is my greatest concern? 13

14. My Biggest Economic Concern Is.. 14 Finding a good job; Childrens education; My health; A comfortable life; and/or Taking care of elderly parents.

15. Money Values People's money values and goals are different. Different countries / cultures have different money values. People's money, values and objectives dictate how they use money. 15

16. Does money control you 16 Why should money not control you Is there a way to break/gain control What guidance does Scripture give

17. Matthew 6:24 (ESV) 17 No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.

18. Matthew 6:19-20 (ESV) 18 Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.

19. How then should we view money 19 Life is not a competition to see who can get the most money.

20. Some questions to consider… 20 Then why save or care? Why do this talk?

21. Luke 16:10 (ESV) 21 One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much.

22. Why I care about financial management? 22 If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches? Luke 16:11 (ESV)

23. Points to Consider 23 Ensuring proper use of money shows we are able to manage what is given to us. If we cannot properly view and use money, are we able to manage other responsibilities?

24. Other Considerations Prepare as well as possible, (and then completely trust God.) Even if you save half of the money, you reduce the problem. Need balance. Money does not represent everything. 24

25. Furthermore… There are things in life more important than money. Money arrangements do correspond to each persons values, so dont judge others. Avoid the phenomenon of saving more is better. Life is not a competition to save the most money. 25

26. Three Points 26 No matter the work, continue to persevere, dont easily give up. A little income compared to no income is better. A loan is a heavy burden, dont take lightly borrowing money.

27. Four Basic Steps 27 Give first to God (For Christians) Spend less than income Avoid debt Develop long-term goals

28. Giving to God (For believers) 28 This is our first financial priority. The Bible instructs us to give. Therefore, giving is a matter of obeying God.

29. Spend Less Than You Earn 29 Consider spending only a part of your monthly income. If you spend within your income, you can then save money.

30. Avoid Borrowing Money 30 Borrowing money is not the problem. Not paying it back is. Borrowing is always easier than paying back. Interest makes repayment difficult.

31. Review 31 When you spend less than you earn, you create savings. If you avoid debt, you will have the disposable income to do other things, rather than pay down debt.

32. Review 32 Here is a process that will help you generate liquidity and Secure your financial position Have money for a rainy day Now what

33. Develop Long-Term Goals 33 Goals provide direction in life. Goals are the motivations for our actions. If long-term goals are clear, they will help you make better current decisions.

34. Develop Long-Term Goals 34 Create goals early but, it is not too late to start now! Being short sighted will adversely affect your plans. Goals must be reasonable.

35. Personal Assessment 35 Is my financial situation satisfactory? How much money will be left to me each month? Can I reduce some expenses? In what ways can I save money? How much money could I save? Do I have the right priorities? Is my heart in the right place?

36. Discussion Questions 36 What do you think about the advice in this talk? Was anything particularly helpful? Why do you think Jesus said we should not serve money but serve God? Do you have any other questions from this talk?

37. Resources 37 Randy Alcorn: http://www.epm.org/resources/category/money- and-giving/ http://www.epm.org/resources/category/money- and-giving/ Crown Financial: http://www.crown.org/http://www.crown.org/ Dallas Federal Reserve: http://www.dallasfed.org/assets/documents/cd/w ealth/wealth.pdf http://www.dallasfed.org/assets/documents/cd/w ealth/wealth.pdf Khan Academy: http://www.bettermoneyhabitscomhttp://www.bettermoneyhabitscom