In This Issue:
Dick's Column | Transforming Truths | News You Can Use | Your Point of View
Spotlight | Market Indicators | Ministry Builders | Resources

Dick's Column

Dear G$ Friends and Colleagues,

Over the years my goal for this column has been for it to be personable, thought provoking and encouraging. Hopefully there will be elements of all three this month but I want to primarily reflect on the history of G$ and bring you up-to-date on some new developments. Please hang with me – there's some important information that follows.

It's been 6 years since the first G$ resources became available. We're humbled and grateful to God for the very positive feedback we have received about the life-changing impact they have had. Hundreds of thousands of folks in over 5000 churches have experienced the Budget Course. In addition, many hundreds of counselors have been trained to provide one-on-one counsel and encouragement.

Along the way we have become aware that the present teacher-driven ministry model has been hard for some churches to implement because they've not been able to find a gifted teacher. So as the time approached to refresh, update and reconfigure the core curriculum, we decided to present the content on DVD in an informal, conversational style by a 3 person teaching team. In a seminar setting, this format removes the necessity for a teacher (though there will be a key role for a facilitator). It also presents the material in a way that works extremely well for small groups and for individuals who may wish to take the course in the privacy of their home.

We're excited about the potential for this new format to reach additional audiences. We're also aware that some existing teachers may wish to continue to teach the material in its present format. Should that be your desire, we are making existing Participant Guides available for $5 plus shipping for as long as inventory lasts. To obtain that price, use priority code GDS8LDR when you order.

The new resource will be called Freed Up Financial Living. It will be available in early October. I encourage those who opt to continue to teach the existing material to purchase a DVD of the new resource with an eye toward supplementing and updating your teaching in whatever way the new material leads you to do. Note that Counselor Training will continue to be offered in its present format as will the Spanish Edition of the Budget Course.

Don't hesitate to ask if you have additional questions. Please email goodsensebus@willowcreek.com.

Plan well for your stewardship ministry efforts in the new church year. The practical need for what you have to offer is greater than ever – and the need to remove money as the chief rival god is ever present and has eternal significance.

Your partner in ministry,

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Transforming Truths

"Let me give you a new command: Love one another. In the same way I loved you, you love one another. This is how everyone will recognize that you are my disciples-when they see the love you have for each other." – John 13:34-35 (MSG)

After a recent surgery (a minor "procedure" in the grand scheme of things) I was very moved by the e-mails and phone calls I received. Some friends called in the midst of vacations and business trips. Some called multiple times. Others sent e-mails with prayers, verses of Scripture, and words of encouragement.

On the morning after the surgery one of the first e-mails I received pointed out that God invites us to lean on him, that each of us is God's "personal concern" (1 Peter 5:7). Another encouraged me with the fact that God promises to satisfy our needs (Isaiah 58:11). It was the first time in a long time that checking e-mail moved me to tears. It felt good – very good – to know that there were people who were thinking of me in the midst of their busy schedules. It reminded me – a project-oriented, get-stuff-done person – of how meaningful it is when we take the time to show that we care.

That reminder has strong relevance to our stewardship ministries. Behind every pile of bills, upside down budgets, and empty savings accounts are real people who are feeling some real pain, fear, and discouragement. We help a lot when we point them to tangible action steps that will lead them to a better place. But along the way let's remember to check in with how the person is doing and let them know that we care. A quick phone call or e-mail can make a big difference. Who do you know that could use some encouragement today?

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News You Can Use

Doctors' Offices Push Credit Cards

Doctors', dentists', and veterinarians' offices are the newest marketing venues for credit cards and other financing. As reported by Consumer Reports, lenders are promoting medical credit cards as a way for doctors to make more money and to get paid more promptly, and as a way for patients to get the treatments they need or want "right now." A promotion for Capital One Healthcare Finance says, "…procedures like liposuction, hair restoration, tummy tucks, and more are now within reach." By agreeing to a finance plan, the article said some patients are losing their ability to bargain for lower prices or obtain charity care. Some patients have even reported feeling pressured to finance their medical care while sedated or recovering from treatment.

Matt's View: Apparently the Hippocratic oath to "do no harm" doesn't extend to the impact doctors can have on their patients' financial health.

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Many Need to Get Smarter About Savings

Too many savers are saving too little and are making poor investment choices. Those are the conclusions of a recent study of 1 million 401(k) accounts by Financial Engines, a pension investment advisory firm. As reported in the Chicago Tribune, one of the most common investing mistakes among workers is investing too much in their employer's stock. One in four workers over age 60 have 25 percent or more of their retirement savings invested in their employer's stock, whereas advisors typically recommend holding no more than 10 percent in company stock. The biggest mistake made by younger savers is not saving enough to receive their company's full match. That's the situation for almost half of all 20-something workers.

Matt's View: For many of the growing number of employees with access to target date mutual funds in their 401(k) or 403(b) plan, such funds can be a good choice. They simplify the decision-making process, replacing the need to build a portfolio with multiple mutual funds. And they automatically alter the employee's asset allocation as they near retirement age.

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Gates Foundation Tries to Spur Savings

The Bill and Melinda Gates Foundation plans to donate millions of dollars over the next few years to help the world's poor build savings. As reported by the Wall Street Journal, the foundation wants to help "put savings back on the world agenda." There will be many challenges, according to the article, such as physically reaching remotely situated poor people with banking services and the cost of processing what are likely to be very small transactions. Still, the foundation believes that helping the world's poor participate in better financial services is an important key to raising standards of living.

Matt's View: This is an exciting initiative with great potential. But lack of access to high quality financial services is not just a problem plaguing people living in third world countries. Take a drive through the poorer sections of many U.S. cities and you will see few banks but many payday loan shops. One bank that has succeeded in serving several inner cities is ShoreBank click here.

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A Hopeful Sign in the Mortgage Mess

As part of the new Housing and Economic Recovery Act, lenders must disclose to home buyers the maximum monthly payment they could be required to pay based on the highest interest rate allowed under the terms of their mortgage. A Washington Post article about the Act said it's a step in the right direction. However, it added that mortgage contracts are still littered with financial landmines, including multiple fees that go by different names but cover the same service.

Matt's View: The vast shakeout now taking place in the mortgage industry is redefining the "normal" home buying process. Regulations are getting tighter and some of the most dangerous loans, such as no-documentation loans and zero down payment loans are disappearing. What's also needed is a new mindset among buyers, where stretching to buy as much house as possible is no longer seen as a good thing. More specifically, the usual mortgage affordability ratio—28 to 36 percent of a prospective buyer's annual gross income—would be better set at a maximum of 25 percent.

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Spotlight

The Joy of Saving Money

Ah, now we get to the good stuff. For the last several months we've been talking about saving for emergencies (If savings), for periodic bills (near-term When savings), for stuff that'll need to be replaced (mid-term When savings), and for our later years (long-term When savings). Not the most exciting types of savings for many people, to be sure. But necessary.

We conclude our series on building savings by looking at a type of savings that's downright exciting – Why savings. Why savings can fund a dream, pay for a special celebration, or take generosity to the next level. Maybe you feel led toward a different career-one that pays less. Maybe you'd like to honor your parents on their 50th wedding anniversary with a special gift. Maybe you'd like to start a charitable foundation. Whatever dreams God puts on your heart, Why savings can help make it happen.

For many years I dreamed of making my living by writing and speaking about the joy of using money according to God's principles, a dream that was quickly and strongly embraced by my wife. From the earliest days of our marriage, we have chosen to live far beneath our means in order to build savings to fund this dream. When we were a two-income couple we lived on one. Instead of living in Chicago's pricey Lincoln Park neighborhood we bought a condo in the rough but affordable Albany Park neighborhood. We kept one car until it had over 180,000 miles on it and still drive one that has 165,000 miles. We weren't suffering. We were building savings to fund the dream we felt God had placed on our hearts. In the summer of 2005 we had enough savings so that I could leave my corporate job and step into that dream. While the adventure hasn't always been easy, it has enabled us to experience God's goodness, faithfulness, and outlandish provision to a much deeper degree than ever.

The one caveat to creating a Why savings fund, is "no skipping ahead." The other types of savings need to be in place first. But for anyone with a crazy sounding, blood stirring, God given dream, the prospect of building a Why savings fund can provide the necessary motivation to first build If and When savings.

What dreams has God placed on your heart? What dreams has he placed on the hearts of those that you counsel? Why not start saving for those dreams today?

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Market Indicators

Boomers Feeling Gloomy

America's Baby Boomers, people age 43-62, are the least optimistic of any age group when it comes to their finances. That's according to new research from the Pew Research Center. As the first graphic shows, over half of all Boomers believe their incomes will not keep up with inflation over the next year. They're also not nearly as optimistic about their children's prospects as younger adults.

Part of the gloom can be safely attributed to the financial strains of child rearing coupled with the added pressure of helping aging parents. The good news is that these pressures may make Boomers especially open to the promise of financial freedom that comes from our stewardship ministry offerings.

One other note from the research: Boomers were most likely to say they're very likely to have to cut spending in the coming year because money is tight (28 percent of Boomers, compared with 22 percent of younger adults and 18 percent of older adults). Promising to teach participants how to spend "more effectively" in order to gain more financial margin, is a more positive way to speak into this felt need.

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Resources