Have you thought of what your spouse would do with your finances if something were to happen to you? Would they know about each life insurance policy or retirement account and how to access the funds? A death in the family can bring enough stress, and worrying about putting your financial matters in order can make the situation even worse. I recently had lunch with a lady whose husband passed away unexpectedly. She said that her husband took care of... Read more
A new law passed by President Obama this week allows eligible employees participating in their company’s 401(k) or 403(b) to convert a portion of their funds into ROTH. This rule is great for those who want to maintain their employer retirement account instead of rolling it into a ROTH IRA. (In my opinion, an IRA is more flexible than an employer retirement account, but we’re just covering the facts on this new change) The new in plan ROTH conversion law... Read more
According to a study done by Gallup, Americans making $75,000 a year have reached the magic income level. As salaries increased for the 450,000 people surveyed, the day-to-day level of happiness rose as well – until $75,000 where it reached a plateau. Now that doesn’t mean a person making $150,000 isn’t any happier than a person making $75,000. In both cases, the general day-to-day happiness or contentment was similar; but those who made more than $75,000 were more satisfied with... Read more
I’m reading the book Basic Economics by Thomas Sowell and I’ve been really impressed with the content so far. Sowell explains economic theory in a way that makes it interesting, easy to understand, and applicable to today. I’ll be using his book as a guide for many “Faith and Economics” posts in the future, including today’s post about productivity and pay. Unless we’re volunteering (or required) people are generally paid for their work. Commonly called income, this pay can be... Read more
I recently read an article on Dave Ramsey’s website that talked about how we apply filters to money and justify certain purchases and kick ourselves about others. The author, John Acuff, shared a story about a friend who recently purchased an iPhone app for $0.99 – the typical price for an app. She played the game for about six weeks and then stopped. Interestingly, she wasn’t very satisfied and felt that she wasted a dollar. She just lived through six... Read more
Did you know that the Bible references more scriptures about money than it does regarding faith and prayer combined? Over 2,350 scripture references can be found about financial matters. Does that mean money is more important that faith or prayer…of course not. But it does mean that we shouldn’t hide from what the Bible says about money. In fact, 15% of what Jesus spoke on was about money and possessions. I can’t wait to write more about what he says... Read more
Thanks for stopping by! We’re getting things ready and want your input. As Faith and Finance builds content and shares financial insights with Biblical perspectives, we want you to be involved! We definitely want your advice about articles, topics, and other content that you would like to see on this website. I’m really excited to interact with as many readers as I can. I’ll do my best to respond to every comment that I can and hope that you enjoy... Read more
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