Archive for August 2009

Cash For Clunkers Program

The Cash For Clunkers program has been a huge hit with dealers and has caused a lot of nervous consumers across the line and decide to spend some money.  I know several people who have personally participated in the deal, and I believe that it has truly stimulated the economy.

But I am not sure that it is a great deal for the consumer.

The situation creates high demand at the dealership.  This can lead to a dealer who is unwilling to negotiate since the consumer is already receiving a rebate.  The program has no defined end date (instead the program's web site currently states November 1st or a vague "when the money runs out" deadline that is not measurable by the consumer).  This creates an "I have to buy it right now or else I will miss out on a great deal" mentality.

If the vehicle is financed, this "deal" still has the potential to wreak havoc on a person's financial future!

I have seen several deals and NONE of them have "Wowed" me.  What about you?

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Personal Discipline

Personal discipline.  Do you have it?  Or do you lack it?

Signs of personal discipline in personal financial management:

  • Waiting at least overnight before making a large purchase decision
  • Balanced checkbook
  • Monthly spending plan
  • Saving every paycheck
  • Giving every paycheck
  • Organized financial documents – including insurance EOBs
  • Credit cards paid off in full every month
  • Regularly obtain credit report to ensure it is accurate
  • Married couples – both know where the money goes and how much they have saved
  • Singles – established accountability

Signs of poor personal discipline:

  • Overdrafts
  • Disorganized records
  • Late payments
  • Credit cards balances not paid off every month
  • Spouses not working together
  • Impulsive spending decisions
  • Little or no saved money
  • No giving

What would you add to either list?

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Book Review: Church Giving Matters

A friend of mine recently released his first book, Church Giving Matters, and I wanted to say CONGRATULATIONS to him publicly.  His name is Ben Stroup, and he is passionate about the topic of giving.

I was provided the huge honor to preview this book, and I believe that Ben is dead on with his observations of giving within the local church.

This book was written for church leaders and every leader who reads it will be challenged to view their role in a new light.  Ben has been the pastor of a small rural congregation while also leading LifeWay's Giving Envelope Service.

It was also just announced that this book has sold 6,000 copies in the first ten weeks!  Outstanding – especially when one considers that less than three percent of books ever sell more than five thousand!

Here is what I love about Ben – he is all about providing PRACTICAL information that is RELEVANT and can be IMMEDIATELY APPLIED.  If you have ever participated in any event I am a part of, you KNOW how much I value PRACTICALITY and RELEVANCY.

If you are a church leader, you would do well to PURCHASE BEN'S BOOK.

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