More Good $ense — April, 2008
The monthly e-publication from the Good $ense Ministry
In This Issue:Dear G$ Friends and Colleagues,
We're finally getting a hint of spring in the Chicago area and I have lettuce, spinach and peas planted… all is well with my soul!
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"The LORD God took the man and put him in the Garden of Eden to work it and take care of it." – Genesis 2:15
Kermit the frog famously sang, "It's not easy being green." But today it's not only becoming easier to be green; it's becoming cool. With all the attention (and some controversy) over global warming, discussions about our "carbon footprint" are popping up at dinner parties, reusable shopping bags have become fashion statements, and compact fluorescent light bulbs are making the incandescent light bulb go the way of the eight-track tape.
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News You Can Use Resist the Urge to Merge
Have you been contacted by someone breathlessly wanting to tell you - and preferably, your entire church - how to pay off a mortgage early? People selling "money merge" accounts are touting their program with great zeal. The program involves using credit (either a home equity loan or a credit card) and a $3,500 software program designed to help you determine when and how much extra you should prepay.
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More People Feeling Economically Stuck
More than half of all Americans say their economic situation has either not improved (25 percent) over the past five years or has gotten worse (31 percent). Those are among the results of new research from the Pew Research Center. They are the highest numbers since 1964 when the organization began surveying people about their economic progress. Among people who define themselves as middle class, 78 percent said it's more difficult to maintain their standard of living today than it was five years ago.
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Workers Less Confident About Retirement
Just 18 percent of U.S. workers feel "very confident" that they will have a comfortable retirement, according to the Employee Benefit Research Institute's (EBRI) most recent retirement survey. That's down from 27 percent last year, the largest decline in the survey's 18-year history. Another 43 percent feel "somewhat confident" about their ability to retire comfortably. The largest retirement concerns center on people's ability to afford health care and long-term care in their later years.
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Financial Literacy Slips Among High School Students
Financial literacy among young people is on the decline. High school seniors answered an average of just 48 percent of questions correctly on the latest survey by the JumpStart Coalition for Financial Literacy—down from 52 percent two years ago. Just 17 percent of students felt that stocks are likely to yield a higher return over the next 18 years than bonds, savings accounts, or checking accounts. And less than half understood that a person making the minimum payments on a credit card balance would pay more in interest than a person who pays their balance in full.
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Americans are not exactly world-class savers. The government's imperfect-yet-consistent method of measuring household savings (learn more about how the government measures personal savings here) shows a steady downward trend over the last several decades to today's rate of approximately zero percent of disposable income.
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Millions of taxpayers will receive tax rebate checks over the next couple of months, and the National Retail Federation asked a representative sample how they plan to use the money. As the first slide shows, people say they'll spend about 40 percent of what they receive, with the largest chunk of what remains going toward paying down debt or savings. Of the money people plan to spend, the second slide shows a sizable portion will go toward necessities (such as groceries) and gasoline. Wealthier families (those making $50,000 or more) were more likely than less wealthy families to say they plan pay down debt, save, and invest a portion of their rebate. Less wealthy families were more likely to say they plan to buy necessities with their rebate money. Hardly any of the respondents indicated plans to put the money toward a new home.
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Budget Course Participant Guides
Don't forget to take advantage of quantity discounts when you order participant guides for your upcoming courses. Click HERE to check it out.
40 Day Spiritual Journey To a More Generous Life
This best selling 40 day devotional from Rev. Brian Kluth is now available at discounted rates to your ministry. Check it out HERE.
Debt Reduction Workshop
Consider following up your Budget Course with the two hour Debt Reduction Workshop as additional help for those with serious debt problems.
Pursuing Spiritual Transformation: GIVING
For those looking for a small group study to go beyond the Budget Course, consider this seven-week study that deals with money, debt, a biblical lifestyle and developing a heart of compassion. Read more...
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