Matt Bell's Blog, page 23

Profitable Ideas: A Lifestyle of Generosity, The Math of Car Ownership, and More

Weekly list of curated personal finance articles from around the web.

Raising generous kids through a lifestyle of generosity (National Christian Foundation). “We taught the whole give-some, save-some, spend-the-rest thing, but I think the more important lessons were in how we lived.” See also, The cheerful giver (The Good Sense Movement). 

5 things my parents taught me about money (Art Rainer). What lessons are you teaching your kids about money?

Parents have a new incentive to fund ‘529’ plans (Wall Street Journal). New rules make them more flexible in case you don’t end up using all the money for college.

All you need to know (Humble Dollar). Investing isn’t as complicated as it may seem.

Carmakers doing little to protect the vast amounts of data that vehicles collect, study shows (CBS Money Watch). Today’s carmakers have unfettered access to all kinds of information about their drivers.

Generational researcher Jean Twenge on how smartphones destroyed Generation Z—and what parents can do about it (Time). One of the most loving things parents can do is to set boundaries and have conversations with their kids about healthy and unhealthy uses of technology.

Here are 3 costly financial surprises for first-time homebuyers — and how to prepare for them (CNBC). To be ready to buy, you need far more than a downpayment. 

The astounding math behind car ownership with Jesse Cramer (Peter Lazaroff). It’s changed over the years.

To weigh in on any of the above, just leave a comment below. And if you haven’t done so already, sign up for a free subscription to this blog.

The Greatest Return on Investment

My wife, Jude, made a comment in our small group recently that got me thinking about generosity in a new way. She referred to a household’s giving as a portfolio of Kingdom investments. I like that a lot and can see how thinking of generosity that way could be very encouraging and helpful.

Investments, indeed

By day, I work at Sound Mind Investing, publisher of an investment newsletter with thousands of subscribers. We don’t invest money for people. Instead, we provide strategies and specific investment recommendations that subscribers implement themselves at brokers of their choice.

We’re a Christian company, and we take every opportunity to help people understand and follow biblical principles of managing money. However, at the end of the day, the main reason people subscribe is in order to generate good returns in their investment accounts.

While our strategies have performed very nicely, we do our best to manage expectations. No stock market investment strategy will outperform every month or even every year, and as recent years have demonstrated, the market is full of surprises.

But there is one investment that always outperforms. It’s an investment in God’s Kingdom work. While the performance of retirement and college-funding portfolios ebb and flow, investments in God’s economy consistently spread God’s love and compassion, change lives, and even help shape eternities.  

A portfolio review

I think it’s helpful to see our giving that way, as an investment. And it’s helpful to evaluate our Kingdom investments in ways that are similar to how we evaluate our stock market investments. Are they properly diversified? Are they in the right sectors? 

To that end, I created a pie chart that looks at my wife’s and my Kingdom investment portfolio. Of the total dollars that we give to Christ-centered ministries, here’s how it breaks out on a percentage basis.

Drilling down a bit deeper, here’s a closer look at some of these investments.

The local church

Our church is easy to support because it’s involved in so many worthy initiatives, such as:

Teaching God’s Word across multiple campuses and onlineProviding meals, mortgage assistance, and other help to families in crisisFacilitating connections for foster care and adoptionStaffing and supplying medical centers in poor countries around the worldSupporting the work of missionaries around the worldAnd so much more

Campus Ministry

Before we got married, my wife was on staff with Cru, a ministry that works with college students on campuses throughout the world. College is such a crucial stage in people’s lives. We greatly value the work of this ministry and enjoy supporting numerous missionaries who are on staff with Cru in various capacities and in various places.

Periodic Gifts

While much of our giving is done on a monthly or quarterly basis, we’ve allocated a portion of our giving portfolio to periodic gifts as God puts new ministries or needs on our hearts. Recently, that has included:

Numerous other missionariesAn inner city Chicago ministry that provides a wide range of services in its community, from jobs training to after-school tutoringAn international disaster relief organization that provides medical and other forms of emergency aid in Christ’s name, whether during the COVID-19 pandemic or in the aftermath of natural disastersA ministry to refugees from Nepal, providing skills training, income-earning work opportunities, and Bible studyA ministry that provides much-needed retreats to refresh and encourage missionaries in foreign countries

Children Living in Poverty

We appreciate the work Compassion International is doing to provide for the material and spiritual needs of children around the world and are currently supporting two young people in Burkina Faso and one in the Philippines.

Student Athletes

With each of our children involved in sports in some fashion, we’ve seen firsthand the effective work Fellowship of Christian Athletes is doing in our schools and enjoy supporting this work.

Motives matter

Please don’t misunderstand any of this. It isn’t like we’re giving away millions of dollars (I wish!). This is simply a look at how the total amount we give breaks out across ministries. And I hope this doesn’t come across as bragging. I’m well aware of the biblical counsel from Matthew 6 to do our giving in secret. But I was encouraged by some writing Randy Alcorn has done on this topic, where he stressed the importance of our motives.

My motivation for writing this post was simply that when my wife used investment-related terminology to describe giving, that really resonated with me and I thought it might be helpful for others as well.

Plus, for me personally, as we’ve automated more of our giving, I realized in writing this post that I’ve become somewhat disconnected from the joy of giving. While we get newsletters and other updates from the ministries we support, and they’re always very motivating, there was something especially encouraging about looking at our giving broken out as above. It enabled me to see with fresh eyes where we have the privilege of playing some small role in God’s work around the world.  

It was also helpful in a very practical way to review the list and objectively consider what might be missing.

My encouragement to you is to see your giving much like you might view an investment portfolio. I hope that doing so will be a blessing to you and may spur you on to further acts of love and good deeds (Hebrews 10:24).

Take it to heart: “For where your treasure is, there your heart will be also.” – Matthew 6:21

Take action: Try creating a pie chart or spreadsheet that shows your various Kingdom investments. Use it as a reminder to pray for the ministries you support.

Read more: One of the Truly Great Financial Adventures 

Profitable Ideas: Keeping the Last Time in Mind, A Close Encounter With Retirement, and More

Weekly list of curated personal finance articles from around the web.

The last time always happens now (Raptitude). A wonderful piece with helpful, challenging implications for using money well.

Taking back control over technology (Thinq). I’m not sure we need to purchase this entrepreneur’s solution, but the conversation is worth listening to and acting on.

Amazon wants you to pay with your palm. It’s a sneak attack on Apple and Google. (Wall Street Journal). Is it just me, or are payment methods becoming creepier? This one uses “near-infrared light to peer through a person’s hand and capture the unique pattern of blood vessels inside.”

The evolution of retirement (A Wealth of Common Sense). This piece highlights the historically unique opportunity many of us will have in the last season of life—not to live a life of leisure, but of continued impact.

My husband just retired. I’m scared to death of running out of money. (Washington Post). A personal finance columnist has a close encounter with retirement—a life stage she has spent decades helping others prepare for. 

Oddly satisfying: What’s behind our drive to collect useless items? (The Guardian). Are you a collector? Do you know why?

Frugal vs. cheap — what’s the difference? (The White Coat Investor). I’ve long resisted the word “frugal.” But let’s face it, “cheap” is far worse. Read also The Case Against Frugality 

The mighty power of the pen (Contessa Capital). How one incredibly simple step can increase your odds of success.

To weigh in on any of the above, just leave a comment below. And if you haven’t done so already, sign up for a free subscription to this blog.

Unpleasant But Necessary Documents for Your Older Teen

Having our oldest home this summer has been such a joy. He had a great freshman year at college, but it’s been an adjustment—for him, and for us! Even though he worked full-time over the summer, we made sure to squeeze in lots of family time. 

And we took care of one unpleasant but very important task. Now that he’s officially an adult, we helped him get some estate planning-related documents in place: an authorization for release of protected health information, a living will directive and health care surrogate designation, and a durable power of attorney. Here’s what they mean and why they’re important.

Authorization of release of protected health information. Once someone turns 18, they will need to have signed this form (or a similar one, a universal HIPPA release form) in order for parents to be able to gain access to their medical information. If your child is away at college and needs to be hospitalized, having this form in place will free the hospital to release information to you.

A living will and health care surrogate designation. This is a two-in-one form, although in some states it might be two separate forms. The living will enables your adult child to choose whether they would want extraordinary measures taken to sustain their life in the event of a dire accident or illness. It also prompts a decision about organ donation. The health care surrogate designation, also known as a health care proxy or health care power of attorney, enables your adult child to name someone to make health care decisions on their behalf if they are not able to make those decisions.

A durable power of attorney. This form enables an adult child to name someone to make financial decisions on their behalf if they are not able to make those decisions.

Completing these forms will force you and your adult child to contemplate events neither of you will want to contemplate. However, should they ever be needed, not having these forms in place will be far worse.

While the forms can be found online at a nominal cost, we used an attorney who said the total cost will be around $300. For something this important, I wanted the peace of mind of knowing the documents were exactly as they should be. Plus, using an attorney allowed for several rounds of questions.

All of the forms our son filled out had to be notarized and two of them required two witnesses. We simply went to our bank to take care of all that.

If you have an adult child, do they have these forms in place?

And if you have a younger child, have you picked up a copy of Trusted: Preparing Your Kids for a Lifetime of God-Honoring Money Management? Helping our kids cultivate a biblical view of money, along with biblical financial habits and practices, will make a huge difference in their lives!

Profitable Ideas: Taking a Page From the Corporate Playbook, Don’t Waste Your Life, and More

Weekly list of curated personal finance articles from around the web.

Your marriage needs a CFO and a COO (Wall Street Journal). Interesting idea, but when it comes to household finances, while one might take the lead in doing the work, both should be involved in the decisions — from how much to save to how to invest.

Screen time linked with developmental delays in toddlerhood, study finds (CNN). One of the most important reasons to be intentional about household screen time rules and regs. Of course, there are others, as I discuss in Trusted: Preparing Your Kids for a Lifetime of God-Honoring Money Management. 

“Going shopping” is dead (Vox). Retailing used to border on theater. But with so much sales having moved online, it seems that retailers aren’t even trying anymore. 

Stock market rally makes more 401(k) savers millionaires (Wall Street Journal). One key distinguishing feature of successful 401(k) investors is something well within people’s control: their savings rate.

Disney’s ESPN bet is a play for younger gamblers (Wired). Sports betting is taking the world by storm.

How to talk to your kids about social media and mental health (Wired). Conversations are crucial, and so are controls.

Car prices might be unsustainable for buyers (Wall Street Journal). Another reason to keep your car for a long time.

Don’t waste your life: how one family stopped being trashy Christians (Christianity Today). Ways to care for God’s creation.

To weigh in on any of the above, just leave a comment below. And if you haven’t done so already, sign up for a free subscription to this blog.

To Teach Your Kids Diligence, Watch Your Style

If you’re a parent, have you ever thought about your parenting “style”? I’m not talking about fashion here. I’m talking about the approach you take in raising your kids. More specifically, I’m talking about the expectations you set and how you go about enforcing those expectations. This applies to everything from the behaviors we try to teach to the character traits we try to cultivate.

What the research says 

For many years, parenting styles have been put under the microscope. What is the best way to raise kids? What do they really need? 

In 2001, the president of the Society for Research on Adolescence declared that no further study was needed. The benefits of “supportive and demanding” parenting were indisputable. Though commonly known as authoritative parenting, University of Pennsylvania psychologist Angela Duckworth prefers the term wise parenting in order to avoid confusion with authoritarian parenting. 

“Over the past forty years,” Duckworth says, “study after carefully designed study has found that children of psychologically wise parents fare better than children raised in any other kind of household.” As the graphic below conveys, wise parenting is about setting high standards for our kids within a warm, respectful environment.

The authoritative (or wise) style of parenting applies to coaches and teachers as well. In one experiment cited by Duckworth, seventh-grade student essays were reviewed, marked up by their teachers, and then divided into two piles. 

Half the students received their essays back with this note attached: “I’m giving you these comments so that you’ll have feedback on your paper.” The other half received this “wise” note with their work: “I’m giving you these comments because I have very high expectations, and I know that you can reach them.” 

All the students were then given the option to revise their essays. Twice as many of the students who received the “wise” feedback chose to go the extra mile and rework their papers.

A law of the universe

This high-standards/high-support approach is similar to the advice given by Christian psychologist Henry Cloud. When a child pushes back because a job seems too difficult or a consequence unfair, we should express empathy (a warm, supportive environment) and hold firm (high standards). “This is a law of the universe,” Cloud explains: 

“Frustration and painful moments of discipline help a child learn to delay gratification, one of the most important character traits a person can have. If you are able to hold the limit and empathize with the pain, then character (‘the harvest of righteousness’) will develop. But if you don’t, you will have the same battle tomorrow: ‘A hot-tempered man must pay the penalty; if you rescue him, you will have to do it again’” (Proverbs 19:19).

As an example, Cloud recalled an experience from his own childhood. When he was in the sixth grade, he missed a month of school due to an illness. When he returned, he was overwhelmed with how much work he had to do. One day, he told his mom that it was too much work and he didn’t want to go to school. 

He can still remember her response: “‘Sometimes I don’t want to go to work either. But I have to go.’ Then she hugged me and told me to get ready for school.” Today, Cloud believes, without her example of maintaining clear standards and boundaries, “my life would be full of half-done projects and unfulfilled goals.” 

As we help our kids build a strong work ethic, we will have frequent opportunities to warmly maintain high standards and to empathize as we enforce limits. 

What’s more challenging for you: establishing high standards or enforcing them warmly?

This article was adapted from Trusted: Preparing Your Kids for a Lifetime of God-Honoring Money Management.

Profitable Ideas: A Good Money Mindset for Kids, What Documents to Keep Where, and More

Weekly list of curated personal finance articles from around the web.

Ownership 101 — a wealth-building guide for young people (A Teachable Moment). This is a great mindset to cultivate in our kids. As I like to ask, “Why just buy what all the other kids buy when you could buy the companies that make what all the other kids buy?”

Before your child goes to college, complete these 6 important documents (Wall Street Journal). This is really important, and often overlooked.

Don’t overlook Roth IRAs for children and grandchildren (Think Advisor). Speaking of overlooking, this, too, should not be missed. If your kids have earned income (even mowing the lawn counts), get them started with a Roth.

What to put in a safety deposit box or home safe? (MoneyNing). What important papers to keep where.

How to save for a house: the comprehensive guide to home ownership (Of Dollars and Data). A very comprehensive (and realistic) guide, indeed.

How retirement plans should protect employees from themselves (Wall Street Journal). While these ideas are targeted toward plan administrators, individual investors can take some lessons here as well. How well do you understand what you’re investing in?

Best credit cards for extended warranty (Clark Howard). Before buying something expensive (or renting a car), be sure to check your card benefits. Some cards have eliminated certain benefits that you might think they still offer.

To weigh in on any of the above, just leave a comment below. And if you haven’t done so already, sign up for a free subscription to this blog.

The Lowly Budget Takes One On The Chin—Again

Every now and then, I come across an article in the mainstream personal finance press that’s so wrong, so misguided, that I just can’t keep silent. So it was with a piece published earlier this year by Kiplinger, an organization I generally respect, enjoy, and learn from. The headline read, “Budgeting Doesn’t Work: A Fatal Flaw in Typical Money Management Advice.”

Where did the article go wrong? Right from the beginning, and on through to the end.

In the eyes of the article’s author, a budget is not simply a money management tool. Oh no, we’re dealing with a much larger, much more sinister issue here. A budget, you see, comes from “budget culture,” which the author defines as “a system of beliefs that worships wealth, promotes debt elimination as a means of attaining a higher status, demonizes certain ways of spending while elevating others and oppresses people who don’t match up with its supposed picture of financial health.”

Whoa.

The author went on to write, “Budget culture is the prevailing way we think, teach and talk about money that relies on restriction, shame and greed.”

Wait, what?

Time out

Let’s look at each of these claims. First, the idea that budgets come from a culture that “worships wealth.” Ah, no. When encouraged as part of biblical money management, it comes from the recognition that God owns everything and we are His managers. We don’t worship wealth. We worship God and seek to honor Him by managing His resources according to His principles and for His purposes.

What about promoting debt elimination “as a means of attaining higher status”? Once again, nope. A budget is just a tool. It comes with no baggage, no point of view. If a person decides to use a budget to help them get out of debt, then it’s a means of attaining a sense of financial freedom. (See Proverbs 22:7 and 1 Corinthians 7:23).

How about the suggestion that using a budget “demonizes certain ways of spending while elevating others?” Okay, she got us there. After all, if you use a budget you can never buy a latte! I’m kidding, of course. Budgets come with no absolutes about how much to spend on clothing or vacations or even the coffee shop. Again, a budget is just a tool, but one that does wonders in helping people live within their means. People are free to set their own priorities as long as the budget balances. 

Does a budget oppress people? Does it rely on “restriction, shame, and greed”? Wow! Where did those assumptions come from? Of course those claims aren’t true. A budget provides empowerment, giving people the knowledge they need to proactively manage money well.

“Just like diets,” the author went on to write, “budgets encourage restriction and rely on discipline, which makes them unsustainable at best and harmful at worst.

Right. Who could live with discipline? It’s a crazy thought.

When the cure is worse than the disease

What’s the author’s solution?

“We don’t have to rely solely on ‘hard work’ to provide for ourselves. Recognize the value of resources such as community support, government benefits and credit and loans to meet your needs, and choose work that’s joyful and meaningful.

Do I even need to comment on that? Is she really suggesting that the best way to live is to depend on government programs and loans?

If this article had run on April 1st, I would get it. But the fact that it was meant as advice for readers of a personal finance publication is stunning. It shows just how misunderstood budgets are. 

Never utter the “B” word!

Certain personal finance writers seem to think that if they recommend budgets, they will lose their audience. The Kiplinger article reminds me of a piece I wrote long ago in which I mentioned some of the ways I’ve seen budgets treated in popular personal finance books. One author told readers to “take those budgets you’ve been struggling with and throw them in the garbage. If you really want to budget your expenses, that’s your business, but I think it’s a waste of time and effort.” And yet, in the workbook that accompanies his book, the author encourages readers to estimate and then track what they spend. He also acknowledges using Quicken to track his own household’s spending.

In another popular personal finance book, the authors write, “Don’t worry. This program is not about budgeting!” They then proceed to teach readers how to track their spending “down to the penny.” They explain that their approach is “based on consciousness, fulfillment and choice, not on budgeting or deprivation.” Ah, I see.

I realize that mine might be just a voice crying in the wilderness on this one, but I’m sticking with my point of view that a budget is the single most powerful tool anyone can use to manage money well.

Take it to heart: “The plans of the diligent lead to profit; hasty speculation leads to poverty.” – Proverbs 21:5

Take in more: Read The Five Budget Mistakes I See Most Often and How to Fix Them 

Take action: For help getting started with a budget, read:

Budgeting is About Having More

Where Does All Your Money Go?

Managing to the Numbers in Your Budget

Maybe if kids grew up using a budget, it wouldn’t carry such a stigma. I devote a chapter to the topic in Trusted: Preparing Your Kids for a Lifetime of God-Honoring MoneyManagement 

Profitable Ideas: Stop Before You Shop Again, Streamers Beware, and More

Weekly list of curated personal finance articles from around the web.

7 tips to save when you feel like shopping (No Sidebar). Great alternatives for those times when you feel the urge to shop just to shop.

The new world of tipping (Axis). When requests for a tip seemingly everywhere these days, it’s important to understand the etiquette of tipping.

Americans are pulling money out of their 401(k) plans at an alarming rate (CNN). The money is all too easy to access. Better to remember that retirement accounts are for, ah, retirement.

At one of the world’s largest secondhand textile markets, discarded clothes are getting a new lease on life (CNN). What if we all bought less clothing? Fewer, higher-quality items that last a long time.

Why you really need to create a will (Clark Howard). Generally, I’m not a fan of cheap, online wills unless, as suggested, your situation is really simple.

Should we talk money with our kids? (FaithFi). In a word, absolutely!

These car colors have the highest (and lowest) resale value (Money). Yellow? Color me skeptical.

Streamers beware: It’s not just Netflix and Disney. A password sharing crackdown is coming. (USA TODAY). This might just bring families closer, with everyone gathering on the couch to watch together.

To weigh in on any of the above, just leave a comment below. And if you haven’t done so already, sign up for a free subscription to this blog.

You’ve Been Blessed to be a Blessing

Last week, we looked at some statistics on generosity and I said I believe too many of us are missing out by not giving more. We’re missing out on the joy that comes from living the generous lives we were designed to live. And we’re missing out on the satisfaction that comes from having a financial situation that works well. (Read Living “The Life That is Truly Life”)

In this day and age, it feels somehow incorrect or impolite to be too specific about something as personal as giving. And yet, without clear guidance, many of us will opt for a standard that’s lower than what God teaches through His Word. 

Proportionate giving

The Bible teaches that we are not all expected to give the same amount of money. Instead, we are to determine how much to give based on a percentage of the money coming into our household. We see this concept of proportionate giving in the Old Testament.

Each of you must bring a gift in proportion to the way the LORD your God has blessed you. – Deuteronomy 16:17

And we see this concept in the New Testament.

On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made. – 1 Corinthians 16:2

Tithes and offerings

What proportion are we to give? The historical biblical starting point for generosity is 10% of income. It was part of the Old Testament law. 

A tithe of everything from the land, whether grain from the soil or fruit from the trees, belongs to the LORD; it is holy to the LORD. – Leviticus 27:30

As Randy Alcorn has pointed out, 10% is where God started the poorest Israelite. So, he asks, is it reasonable to think God might expect less of us who live in the wealthiest country in the world and who have the Holy Spirit to guide us?

When Jesus was asked about tithing, He affirmed the practice, but also cautioned against taking a cold, legalistic approach to giving; He wants our hearts involved.

“What sorrow awaits you teachers of religious law and you Pharisees. Hypocrites! For you are careful to tithe even the tiniest income from your herb gardens, but you ignore the more important aspects of the law—justice, mercy, and faith. You should tithe, yes, but do not neglect the more important things. – Matthew 23:23 (NLT)

In most classes on biblical money management, someone usually asks, “Is that 10% of gross or 10% of net?” I believe it’s 10% of gross income. That’s because of biblical teaching on “firstfruits” giving. 

Honor the LORD with your wealth, with the firstfruits of all your crops. – Proverbs 3:9

The “firstfruits” means the first and best portion. That’s why I believe we should think of 10% coming out of our income first, before our taxes and any withholding for health insurance, workplace retirement plan contributions, or anything else. 

I also believe the tithe is to come from any money that comes into our household—salary, commissions, gifts, an inheritance. That’s because another translation of Proverbs 3:9 uses the word “increase.”

Honor the LORD with your possessions, and with the firstfruits of all your increase.

One final point about the amount of our giving. It’s clear from Scripture that the tithe was intended as the starting point of biblical generosity, not the stopping point. In many places in Scripture, we read not just of tithes, but of freewill offerings as well—sums that go beyond a tithe.

Giving to Jesus

As for where we are we to give, the short answer is we are to give to Jesus. I really appreciate the teaching of Howard Dayton on this. Dayton is the founder of an international biblical financial stewardship ministry called Compass — Finances God’s Way. He suggests that when we give, imagine that we are giving directly to Jesus. I love that. Such guidance draws from Matthew 25:35-40.

For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in, I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.’

Then the righteous will answer him, ‘Lord, when did we see you hungry and feed you, or thirsty and give you something to drink? When did we see you a stranger and invite you in, or needing clothes and clothe you? When did we see you sick or in prison and go to visit you?’

The King will reply, ‘Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.’

More specifically, to give to Jesus is to support the work that He so clearly cares about. One such concern is the spread of the Gospel.

Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit,and teaching them to obey everything I have commanded you. – Matthew 28:19-20

He cares about the poor.

Whoever is kind to the poor lends to the LORD, and he will reward them for what they have done. – Proverbs 19:17

He cares about teachers of God’s Word.

The one who receives instruction in the word should share all good things with their instructor. Galatians 6:6

In our household, of the money that we give, the largest portion goes to our church because it is a trustworthy place to help with all three of the concerns I just mentioned. 

Our local church preaches the gospel to those who have never heard it, whether that’s first-time visitors or those being reached by missionaries the church supports. Our local church helps the poor by its support of numerous ministries that serve the poor locally, nationally, and internationally. And of course, our local church is a primary source of our own instruction in the Word.

Then we give to other Christ-centered ministries that God has put on our hearts over the years.

The blessing

I love the instruction and encouragement God gave to Abram. 

The Lord had said to Abram, “Go from your country, your people and your father’s household to the land I will show you. “I will make you into a great nation, and I will bless you; I will make your name great, and you will be a blessing. I will bless those who bless you, and whoever curses you I will curse; and all peoples on earth will be blessed through you.” – Genesis 12:1-3

That’s a good way to think of our own situation in life. We are called to go out into the world and live lives of impact. To see a central part of our mission in life as, “to be a blessing to others,” is to live in synch with how God designed us. Investing money into God’s Kingdom work isn’t the only way we can be a blessing to others, but it’s an important way. And that’s a type of investment God has said He will multiply.

Now he who supplies seed to the sower and bread for food will also supply and increase your store of seed and will enlarge the harvest of your righteousness. You will be enriched in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God. 2 Corinthians 9:10-11

I like to think of generosity as a journey. Growing in generosity takes faith; it takes trusting that God will continue to meet our needs as we give away more. Quickly, as we see how God uses our investments in His Kingdom work to bring about life change, it becomes one of the most rewarding ways we can use money, one of life’s greatest adventures. My encouragement to all of us is to continue growing in generosity.

Take it to heart: “Honor the Lord with your wealth, with the firstfruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.” – Proverbs 3:9-10

Take action: What next step do you sense God encouraging you to take on your journey of generosity? Why not take that step this week?

Read more: The Priorities That Lead to Financial Success and Satisfaction  

To help your kids get on the path of living generously, pick up a copy of my new book, Trusted: Preparing Your Kids for a Lifetime of God-Honoring Money Management.