Tag Archives: Investing

BBM Interviews Mary Johnson: A College Student’s Money Perspective

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Mary Johnson is the daughter of Lisa and Darren Johnson, a Godly couple my wife and I befriended while attending Calvary CHapel of Idaho Falls, ID. Both parents are hard-working, dedicated to God and very friendly to those around them. It is no surprise that their work ethic and perspective on money has been passed down to their daughter who exhibits discipline, kindness and a great head on her shoulders. I am very glad to have interviewed this young lady. Keep reading and you’ll see why.

BBM: Is the Bible one of your Financial Education sources? Why or why not?

Mary: Yes. If I use the Bible to guide other aspects of my life like avoiding sin or loving others, I can apply it to my finances. Dave Ramsey helped me see how much the Bible actually talks about money.

BBM: Do you believe that small business contributes positively to the economy? If yes, how so?

Mary: I’m not too educated on this topic, but yes I do. I think it allows average people to have a say regarding governments laws on business and have- even though it may be small- a piece of the market “pie”.

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BBM: How do you manage your finances? (Examples: Financial adviser, spreadsheets, envelope system, checkbook register, a combination of tools, or something else)

Mary: I currently use a form of the envelope system. At the beginning of the month, I estimate how much I’ll make and list all of my expenses, including “fun money”. The most important things are at the top: tithe, gas, and other bills. Every dollar gets accounted for, before I even spend a dollar. I then get out some categories in cash, like tithe and my fun” money. Some of the other expenses are only on my card, like my phone payment and gas. If I have any left over at the end of the month, it either goes towards savings or towards next months expenses. I’ve been told that it takes time to really perfect this system, but so far I’ve enjoyed it. It takes away a lot of my spending guilt when I know what I have in my wallet is what I can spend:)

BBM: At what age did you begin to form a “Financial Freedom mindset”?

Mary: I began this mindset literally 7 weeks ago, so age 18.

BBM: Why do you believe financial wisdom is important?

Mary: Debt has the power to steal away so much peace. It can ruin marriages, keep people stuck doing something they didn’t want to do in life, and above all, it can keep one from pursuing the Lords calling. If i know I have the power to avoid all that, I’m going to take advantage of it. Wouldn’t you?

BBM: How do you feel about credit cards as a young lady getting ready to enter college?

Mary: I know I could go my entire life without ever needing one. I know that sounds crazy, but if I plan on never needing loans for anything, I don’t need to “build my credit”. They can be OK if you have good self discipline and are maybe at a later stage in life than I’m currently positioned, but for college students, I recommend they stay far away from them.

BBM: Is “giving back” part of your future financial strategy? If yes, how so? If no, do you think it should be added to your plan?

Mary: Yes. Tithing has always been something I have done since I got my first paycheck. Besides tithing, I believe it is important to be open financially to give if an opportunity comes along. My dream is to be able to give back by going on a mission (or multiple) and though you’re going to serve others, you have to pay your way out there.

BBM: Have you read the book “Do Hard Things”? If yes, did you enjoy it? If no, would you read it if it was bought for you?

Mary: Yes! I love it.

BBM: Do you think society expects too little of adolescents & teens?

Mary: Definitely. Still being in the teens myself, I feel the drag of society pulling on me saying you don’t need to be responsible, you’re young. You can’t really do much anyway”. As a result, our young people feel that they can’t accomplish anything until later, so they usually don’t even try. What would our world be like if young people took a stand and started really doing the hard stuff while they were young?.

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That is a perfect question to pose at the ending of this interview. It is a question that both parents and their adolescent/teen children should ask themselves. Let’s stop acting as if our young ones cannot achieve extraordinary things. In fact, let’s start requiring it of them!!

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BBM Interviews Mrs. Autumn Lee: A Busy Wife/Mother’s Financial Perspective!

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When I think of busy, organized, energetic folks who never stop moving and shaking and who also accomplish A LOT, I honestly think of this long-time friend, Christian, dancer, mother, photographer and all around sweet heart, Autumn Lee!

She’s the owner of Dash Photography, currently serving the Colorado and Texas areas.

With such a productive life and successful business, I thought it would be essential to dig into her mind concerning financial matters. This is truly someone we can all learn from. Here are her words of wisdom.

Autumn's photography talents :)

Autumn’s photography talents 🙂

BBM: Is the Bible one of your Financial Education sources? Why or why not?

Autumn: The Bible has not been one of my financial resources, other than when it talks about greed. I am trying to change that though because I know there is some good advice and some truth in there that will guide our family in the right direction.

BBM: Do you believe that small business contributes positively to the economy?

Autumn: I am a HUGE believer in small business, we need to quit putting money into big CEO pockets and support our local community. I think you feel better when you can see where your money is going and who it’s impacting and you can also see where your products etc are coming from.

BBM: How do you manage your finances? (Example: Financial Adviser, checkbook register, a combination of tools or a favorite tool you’d like to mention)

Autumn: We sit down once a month and plan our budget for the month and then every 2 weeks before payday we go over it again and make any changes. We try to use cash as much as possible and stick to the budget we have made. This has not only worked great for us getting out of debt, but it’s brought us closer in our marriage as well because we are communicating and we are finally on the same page.

BBM:At what age did you begin to form a “Financial Freedom” mindset?

Autumn: At some point in my 20s I started trying to be more wise with my money but it wasn’t until my 30s that I actually buckled down to do it.

BBM: Why do you believe Financial Wisdom is important?

Autumn: Being tied down to debt makes it hard to truly live the life God planned for you. There is always stress and unhappiness and depression. When you are debt free or working towards it, you see the light at the end of the tunnel, you feel okay splurging from time to time and you actually have the means to do things in life like travel or donate etc. It’s a good feeling.

Autumn is 100% correct. Being tied down by debt seriously cripples one’s ability to contrbute financially to great things God may have planned for your life. How many times have we heard others say (or have said ourselves) “I wish I could help…” or “One day I’ll be able to contribute…” or maybe “If I had a million dollars I’d donate it to…” My friend Mrs. Autumn Lee has an amazing future ahead of her because she has chosed to follow GOd’s prescribed path of financial stewardship.

Thanks a million for allowing us into your mind Autumn!!

If you’re searching for a great photographer you really should check ojt Autum’s web page:
dash-photography.net

You’ll be impressed, I assure you!

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BBM Interviews Audrey Ostoyic

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Today’s interviewee is a wonderful lady I met through a Google+ group, Christians In Business. Mrs. Audrey Ostoyic is an upbeat, positive, social media strategist, mother, wife and Christian business owner. Through following Audrey’s posts, blog and YouTube videos, I’ve come to greatly respect and admire her. Due to this respect and admiration I asked to interview her concerning her perspective on personal finance.

I hope you find her answers as inspiring and encouraging as I did.

BBM: Is the Bible one of your financial education sources? Why or why not?

Audrey: The Bible is my ONLY financial education source. I have listened to Dave Ramsey before and he gives amazing tips on the ins and outs of debt and debt collection agencies that are relevant for today and that you don’t find in the Bible, however the Bible is it for me. If you think about it, if you read your Bible and follow it then you don’t need to worry about your credit score, debt or debt collection agencies calling you. I’ve never owned a credit card in my life and never will. My husband on the other hand has 2 but pays them off every month. The only debt my husband and I have together is our home and we are working on getting that debt erased. My motto has always been, “If I don’t have the cash to buy it then I don’t need it and if I need it then God will supply it according to His Word.”

BBM: Do you believe that small businesses contribute positively to the economy? If yes, how so?

Audrey: Absolutely! I believe that Small Businesses, for the most part, really care about, not only their customers, but also their employees. Every Small Business that I have had the pleasure of training in Social Media is more like a family than the larger corporations I’ve worked with. I’ve also noticed that small businesses take care of their employees by paying them more and giving more/better benefits. In this way small businesses are keeping employees longer, they (employees) are more loyal and they become invested in the business as much as the owners.

BBM: How do you manage your finances? (Examples: Financial adviser, spreadsheets, envelope system, checkbook register, a combination of tools, or something else)

Audrey: Well, I’m very blessed (or some might say not very smart) to have my husband take care of the finances. I am not a spender at all and have always thought about each purchase as to whether it is a need or a want. If there is something I do want I simply ask my husband if there is enough money and if he says yes, I go buy it, if he says no then I just don’t get it. 😉

BBM: At what age did you begin to form a “financial freedom mindset”?

Audrey: About two years ago when I turned 39 yrs. old (I guess I just gave my age away lol) Took a long time but it’s not only the “financial freedom mindset” as much as it is the “God’s got this” mindset. No matter what financially may be going on if I abide in Him and He abides in me then there is nothing that can touch my finances.

BBM: Why do you believe financial wisdom is important?

Audrey: I believe Financial Wisdom is so important because it allows us to be in a position for The Lord to use us whenever he needs to. For me every single penny that comes into my home is The Lord’s. When the Holy Spirit speaks to me to give, no matter how much it is I will do it in obedience. My husband and I have gone through some of the worst financial storms since we got married in 2001 and through it all we HAD to rely 100% on the Lord and he never failed us.

Amen Audrey! Thanks so much for agreeing to be interviewed and I really appreciate your openess and honesty.

I highly encourage BBM readers to follow Audrey Ostoyic on Google+ as well as her blog page, http://www.livinlyfemarketing.com

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Teen Business Owners- Part Two: Is Your Teen Prepared For Real Life?

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Looking back in history there is strong evidence that children had a lot more responsibility than today’s average teen. The Bible tells us that young David was about twelve when he killed a lion and a bear to protect his father’s sheep and about seventeen when he killed Goliath who stood nine feet, six inches tall.

Try getting today’s suburbuain child to go close to a lion, I dare you!

As impressive as the whole lion situation is, there is an even more important lesson here.

In order for David to be prepared to face the lion he had to be taught two things long before the king of the jungle came into the picture- responsibility and bavery.

Who do you think took on the job of teaching these much-needed character traits to this young man? The school system of the day, the elders of the Church or some brave soldier in the community? No! His parents did. While there is no mention of David’s mother in the Bible we do know that his father was Jesse, a direct descentent of Jacob- ya know, the guy who wrestled with God and consequently had his name changed by the Almighty?

Obviously this bloodline was NOT made of cowards. Wisdom, bravery and integrity are part of this family’s legacy. Such traits were taught, emphasized and passed down to future generations. Don’t get me wrong, these weren’t perfect people. Jacob, The Trickster, stole his brother’s inheritance then was tricked by his own uncle, Laban. Ten of Jacob’s sons agreed to sell son number eleven into slavery.

Yeah, they were liars, deceivers and thieves, definitely not perfect beings, but they were used by God anyway!!

See, even the most imperfect of us, myself included, can be used by God to do extraordinary things.

One book every adolecent/teen should read is “Do Hard Things” by Alex and Brett Harris. This book is authored by teen brothers who were sick and tired of the teen-ager status quo. They got fed up with how little society expects of their age group, so, they decided to do something about it. In this book you’re taken on a journey where the teen brothers achieve things that are considered “far beyond their years”. The important lesson in this book is that both adults and teens need to REQIURE and EXPECT more of our youth. They’ll learn, rise to the challenge, meet our expectations and even surpass them, IF we give them a chance.

So, look at what you’re teaching your children. Do you feel they can do more? If you were their age right now, do you feel YOU could accomplish more than today’s average teen? If your answer is Yes, and I suspect it is, then why sell your teen short? Let’s not prepare them for an average life, let’s prepare them for an extraordinary one!

Teach them to “Do Hard Things” like owning a business, tracking expenses, prepare for retirement, deal with tough economic times and sacrifice that PS3 game now for financial freedom later on.
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It’s up to us parents to get our children ready to bring down the real-life financial lions of the future.

I’m STILL Not Using #Algebra

I graduated from high school in 1992 @ age 17.

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During my school years I remember thinking, as many students before and after me, “When am I ever going to use Algebra?” Math wasn’t the only subject of which I asked this question. History and Astronomy were scrutinized as well.

I’ll be 39 on January 24th, 2014 and have I used Algebra, …at all….ever?! Absolutely not!

I have no animosity towards my former teachers and I do realize some of my fellow students have entered professions where my least enjoyed subjects have benefited them greatly. Some have reason to use Algebra every day.

(I’ll weep and pray for them later)

However, I’ve noticed that most of us don’t have the slightest need to use so much of the knowledge we’ve accumulated from Jr. High forward, yet vital education we now need in our adult lives was overlooked.

Ask the average teenager if they know how to balance a checkbook and they’ll propably ask, “What’s a checkbook?” If the average adult was asked, “Are you happy with your last month’s Balance Sheet?” they’d probably respond by telling you they don’t own a business. They don’t understand how important a balance sheet is for the financial success of the average person, couple and family.

In our great America we have been taught-falsely- that school is where all of life’s important skills and knowledge are attained.

Really?

If this is true why are so many families buried under debt, close to losing their houses and still living paycheck to paycheck? The answer is: They were not properly educated in Money Management.

I learned recently that Jewish parents start teaching thier children about money when the child starts asking, “Daddy could you buy me a…..?” Jewish children as young as eight years old learn to use their allowance wisely. They give the first ten percent to Church, save the next ten percent and even learn to invest another ten percent. Yes, at such a young age they undersand and practice investing. Have you ever notices how financially secure Jewish folks are in America?

It was interesting to learn that jewish grade-schoolers who are asked by non-Jewish children to let them borrow a few dollars respond with, “I’ll let you borrow two dollars for the weekend but you have to give me three dollars on monday.” To the American-bred child this makes sense because he’s seen his parents borrow money all the time. It’s a way of life, totally normal.

Proverbs 22:6 & 7 comes to mind:
Train up a child in the way he should go;even when he is old he will not depart from it. The rich rules over the poor, and the borrower is the slave of the lender.

The proof of these verses is all around us. Remember the American kid who borrowed two dollars and repaid three? He grew up to be the average American worker; in debt and struggling to get by. The Jewish kid who loaned two and collected three grew up to be the average Jew with no debt owning three businesses and passing on that legacy to his children.

FOOD FOR THOUGHT

Proverbs 213:22
A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.

The time has come for us to educate our children about how money works, what money really is and how to use it to attain real Financial Freedom!

Is Algerba useful? Yes, IF your profession requires its use. Is Money Management useful? Yes, BECAUSE your Financial Success demands it!

#Batman’s True “Superpower”

Batman’s True SuperpowerThe Bat

To say I am a big #Batman fan would be an understatement. I love the flawed, dark character partly because I can relate to him. He’s by no means perfect and I love that. He wrestles with inner conflict, flirts @ the borders of what’s considered legal and he’s wanted by the law enforcement agencies he saves on a regular basis. Batman is called into action when the Justice League (Superfriends for those who can remember) is in a bind. He’s known for doing what other superheroes cannot.

I remember an episode where Superman, Wonderwoman, Flash, Green Lantern and the Martian were taking turns interrogating a criminal. They tried for hours on end to get vital information from him and got nowhere. Batman arrived, spoke to the criminal for a few seconds and walked up to Superman with the needed information. Flash asked Superman, “How’d he do that?” Superman replied, “You don’t wanna know”.

Yeah, I love the Batman.

It’s easy to think of all this character’s toys, his money, mansion and his fancy vehicles as his greatest attributes. However, you’d be wrong. Batman, aka The Dark Knight, has another name unknown to most- World’s Greatest Detective.

True Batman fans will remember a conversation our hero had with Commissioner Gordon on the roof of the police department. In this conversation Gordon gave Batman a riddle from a villain called The Riddler. Gordon thought out loud as he tried to figure it out, Batman walked calmly to the edge of the roof and prepared to disappear over the edge, having figured the answer in just a few seconds. Gordon asked, “Wait, you already know what it means?” Batman replied, “Yes, don’t you?” then vanished in true Batman style.Off the Edge

The intelligence of this cartoon character is one that is often overlooked in movies and Saturday morning episodes. But, we Christians would do well to keep it in mind. Think about it. Have you ever watched an episode where Batman fought the bad guys without first doing research on the criminals themselves, their tactics, weapons, known affiliations, etc? He’s often seen in front of his huge Batcave computer, typing in information or looking through his microscope at some chemical compound or another.

Once the research is done he is then ready to face the bad guys- equipped with toys, vehicles, gadgets and the intelligence necessary to use his tools in the right way. If Batman didn’t posses this tremendous intellect he would be completely ineffective in crime-fighting.

The discipline of seeking knowledge and wisdom before facing a problem is very Biblical advice. While I’m sure Batman isn’t a follower of Christ, he does help remind us of the importance of doing our research before diving into a problem, business venture or solving our financial woes.

Batcomputer

 We should seek God’s Wisdom before tackling any problem, includeing money problems. The Bible is filled with examples of financial mistakes by God’s people along with the consequences of those mistakes. We need to learn from them.

Remember the story of Solomon? In 1King 3:5 God came to him saying, “What do you want? Ask, and I will give it to you!”

Wwwwoooooowww! Can you imagine what you’d ask for?

(Honestly a Riddler green, 2014 Chevy Camero just flashed through my head.)

However…Solomon replied in verse nine, “Give me an understanding heart so that I can govern your people well and know the difference between right and wrong. For who by himself is able to govern this great people of yours?”

#Solomon recognized two things of massive importance; his own ignorance and God’s infinite #wisdom.

This should serve as an example to us. Are we humble enough to admit we need His guidance or are we so arrogant that we tell Him, “It’s OK, I got this”?

 Judging from the sense of urgency on the faces of #Black Friday shoppers last month, I’d say most of us fit in the arrogant category. But, let’s get back to Solomon.

Verse eleven tells us, “So God replied, “Because you have asked for wisdom in governing my people with justice and have not asked for a long life or wealth or the death of your enemies I will give you what you asked for! I will give you a wise and understanding heart such as no one else has had or ever will have!”

I could not imagine being Solomon at that moment, being granted such Wisdom-directly from God-that it would be unmatched by anyone in human history from that point on!!

The great thing is we can do the same thing! Yeah, you heard me, we can go to God and ask Him for the wisdom to tackle enemies such as greed, materialism, idolatry and worldly ambition.

Proverbs 24:13-14

My child, eat honey, for it is good, and the honeycomb is sweet to the taste. In the same way, wisdom is sweet to your soul. If you find it, you will have a bright future, and your hopes will not be cut short.

It doesn’t get any plainer than that. God tells us, in no uncertain terms, that wisdom yields a bright future. That’s more than enough reason to seek wisdom, in my opinion. 

So what are your financial hurdles? What’s holding you back from the financial freedom you dream about? How can you be a better steward of your God-given assets?

To find the answer to these questions, and others, we need to be Biblical Detectives. Seek God’s Financial Wisdom. Ask Him what your goals should be and which path to take towards achieving those goals.

One last thought from Proverbs 4:5&6

Get wisdom; develop good judgment. Don’t forget my words or turn away from them. Don’t turn your back on wisdom, for she will protect you. Love her, and she will guard you.

Sounds like good advice; besides, it worked for both Solomon and Batman.