"Experience the Peace that Comes with Wise Stewardship
Financial insecurity can be one of the greatest threats to your well-being—but the good news is that even if you’re on a tight income, you can eliminate many of your monetary worries when you create and abide by a biblical plan for your spending.
In Your Finance’s God’s Way, you’ll identify the negative money management habits you need to break and the positive habits that should take their place. Implementing the teaching laid out in the Bible, this book gives you advice and practical steps backed by proven principles, helping you
• get the most out of your money by paying off debt and building up savings
• make wise spending decisions that enable you to avoid anxiety, regret, and conflict
• find a healthy balance between being financially frivolous and frugal to a fault
Even when you have less to spend, you can use what God has provided to thrive. Whether you’re young or old, married or single, working or staying at home, Your Finances God’s Way will give you everything you need to be a careful steward of the resources you’ve received from the Lord."
Author Interview
Thank you for visiting my blog today, Pastor LaPierre! To start off, can you please tell us about the inspiration behind your book, Your Finances God's Way? Why would a pastor write about finances? Some may say that's beyond your area of expertise ...
Good questions! To put it simply, I would write about finances, because the Bible talks so much about finances, and my responsibility as a pastor is to “Equip the saints for the work of the ministry” (Ephesians 4:11-12).
Maybe someone would say a pastor should write about finances, because it doesn’t seem very spiritual. But I would say that God’s Word determines what is and isn’t spiritual, and if something occurs frequently in Scripture, then it is spiritual.
Regarding finances being beyond my area of expertise I will be the first to say that I’m not an expert on many topics. This is one reason I am so committed to telling people what God’s Word says versus sharing my opinion. God is the expert in all things, and so when we tell people what He has said then we are doing people a great service and no earthly expert would have more to offer.
Well said, Pastor LaPierre. As a Millennial, I see many of my peers around me worried about things like student loans, being able to afford a house, and how to provide for a family as they contemplate marriage. What advice would you give people in the twenties and thirties regarding finances?
Whenever I speak to young people I try to stress the same point to them, that they must take advantage of the time value of money. Time, versus money itself, is the greatest tool they have to increase the value of money. The sooner they start, the greater their return. This also means that procrastinating is one of the greatest threats to making money. The longer you put off investing, the more money you lose.
Contrast Peter and Paul and consider these examples:
- Peter is 30 years old and he invests $200 per month at 7 percent interest. When he turns 60, he will have $244,000.
- Paul is 20 years old and he invests $200 per month at 7 percent interest. When he turns 60, he will have $525,000.
- Starting 10 years earlier results in more than twice as much money—a difference of $281,000.
Dave Ramsey said, “The current average annual return from 1926, the year of the S&P’s inception, through 2011 is 11.69%.” Assuming the stock market continues the same pattern it has shown historically, consider these examples:
- Paul invests $2,000 per year starting at 19 years old. When he turns 26, he does not invest another penny, which means he invested $16,000 over 7 years. When he turns 65, he will have $2,288,996.
- Peter invests $2,000 per year starting at 27, the year after Paul stopped investing, and continues until he’s 65, which means he invested $78,000 over 38 years. When he turns 65, he will have $1,532,166.
- Although Peter invested almost five times as much as Paul over five times longer than Paul, he has over 30 percent less money.
Wow, that's a huge difference! Investing is definitely something I'll need to look into. As I started to read your book I was struck by the emphasis of living frugal, modest lives. How do we get into that mindset, especially when it seems so counter to the influencer, consumer-culture world we often see around us?
Good question! If you’re like me, you probably read
verses about riches and covetousness and think they apply to others, but not you. Yet if you live in America, measured by the living standards of the rest of the world, and especially those throughout history, you live in the wealthiest nation that has ever existed. America enjoys staggering material prosperity. Take, for instance, the average household wealth, which is the money available to invest, save, or spend after income taxes. This is less than $17,000 per household in Russia, $60,000 in France, $83,000 in the United Kingdom, and $86,000 in Canada. The nation in second place is Switzerland with $128,000. The United States is first with $176,000, or 40 percent more than the second-place finisher. Now, many of us don’t see nearly that amount of money in our household, but on average, you can see where we stand globally with our wealth.
The US poverty threshold for a family of five is $30,500, which means if a family makes less than this, they’re considered living in poverty. The official poverty rate in the United States is 12.3 percent (approximately 39.7 million people). The average global income for a family of five is about $10,500, which means Americans in poverty still make about three times more than the average for the rest of the world.
I share all this, because it is going to make modesty and frugality difficult for most of us. I believe the solution is to have our minds renewed by God’s Word. As we are sanctified, which is to say we become more like Christ, we will become more content and self-controlled. It will be easier for us to deny ourselves and recognize the purchases we should avoid.
Very true, the Christian life is often counterculture to how the rest of the world lives ... Besides the Bible, are there any other books, authors, podcasters, or other online resources about finances that you recommend people check out after reading Your Finances God's Way?
I appreciated
The Total Money Makeover by Dave Ramsey. God used this book in my wife’s life on our honeymoon. She had been quite the spender, but after reading this book she was committed to seeing us
pay off all of our debt.
I attended a Dave Ramsey financial class after I graduated and it was a great way to create a financial plan as I entered the workforce for the first time! Lastly, I was an art major, so I have to ask: Can you talk about the book cover design process from your point of view as an author? How much input did you have in the final design (if any)?
Harvest House is the only publisher I have worked with, so I can’t tell you what others do. But I can tell you I enjoyed their approach. They sent me five sample covers to choose from, and they told me which one was the marketing team’s favorite. That’s the one I ended up choosing. After that cover was chosen we were able to go back and forth with any small changes I wanted to make. I was happy with the finished product.
Sounds like a great method to get a book cover that both the graphic artist and the author can be proud of! Do you have any upcoming projects you can tell us about? What's next for you?
Thank you for asking! Living God’s Way is my brand. I am looking forward to publishing another “God’s way” book. I am thinking about the topic of contentment. I believe it flows well from the discussion of marriage and finances in my previous two books and workbooks.
Thank you so much for your time, Pastor LaPierre! I look forward to seeing your future projects.
What about you all? What are some books, authors, podcasters, or other online resources about finances that you recommend?
ABOUT THE AUTHOR
Scott LaPierre is a senior pastor, author, and popular conference speaker. He holds an MA in biblical studies from Liberty University. Scott and his wife, Katie, live in Washington State, and God has blessed them with nine children. Learn more about Pastor Scott at his website, www.scottlapierre.org, and connect with him on Facebook, YouTube, Instagram, and Twitter.
TOUR GIVEAWAY
One (1) winner will receive a $100 Amazon gift card and a signed print copy of the Your Finances God's Way book and workbook!
Giveaway begins at midnight May 9, 2022 and ends on 11:59 PM EST on May 16, 2022. Winner will be notified within 2 weeks of close of the giveaway and given 48 hours to respond or risk forfeiture of prize. Print books to US addresses only, Amazon gift card where available. Void where prohibited by law or logistics.
Giveaway is subject to the policies found here.
ENTER GIVEAWAY HERE
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