Tag Archives: financial stewardship

“SMARTER Finances” Spring Seminar at Milton Keynes (Bletchley) SDA Church

The 2014 series of “SMARTER Finances” seminars continues with the one-day Stewardship Youth programme at Bletchley church.  Attended by over 40 youth and adults, the morning session covered the basics, drawing on the bible-based principles.

The afternoon was a fun interactive session looking at personal and church financial goals and the best ways to achieve them.

The results of the straw poll (sample 20 members) above has been added to the total responses so far.  To see the results as at March 2014 click here.

Get support for you and your church on your financial journey!

About the FREE  “SMARTER Finance” Seminars – These are  bible-based seminars and are delivered in your local church. As part of the Stewardship of our knowledge, member’s have supported other church groups by running these seminars annually since 2004.

Start-up a locla MONEYCLUB a training and learning  workshops and practical support sessions for members. From June to December run these as weekend, or one-day church based seminars.

A number of local church groups in England already use these sessions for basic financial literacy in a Stewardship Day programme whilst others use the weekend workshops or one-day seminar services for both the church and local community outreach.

If your church has never participated or held one of these sessions, ask your Treasurer and your Stewardship Co-ordinator to arrange a session this year.

So, who’s ‘in the black’? 2014 1st Quarter results just in…

 Total “SMARTER Finances” Survey Responses – 1st Quarter (Mar ’14)

Juan Carlos Patrick, keynote speaker at the SEC Expo on 12 January 2014 challenged delegates to be fishermen rather than keepers of the aquarium.  

We also started to do the quarterly report on the views UK Seventh-day Adventist church members have about finances and money.  

Here is the quarterly update on responses received so far!

What do you think the result show? Please share your views and comment!

2014 1st Quarter Survey results

“SMARTER FINANCES” – WHO’s REPRESENTED?

The results now include the Stevenage SDA Church responses (5 April 2014)

A big ‘Thank You’ to all the churches that have taken part so far.  Results are still coming in so don’t stop commenting and responding!

 

1. Balham 11. London Ghana
2. Bracknell 12. Hanwell
3. Basingstoke* 13. Holloway
4. Central London 14. Ipswich
5. Cheltenham 15. Lewisham
6. Clacton 16. Norbury
7. Clapton 17. Northolt
8. Edmonton Central 18. Plaistow
9. Edmonton (Cuckoo Hall Lane) 19. Reading Central
10. Elephant & Castle 20. Stevenage

* –   also won the 2014 SEC Expo £5 Challenge!!

If you haven’t yet see our  ‘7 Days’ tips for starting off the New Year –  click on any of the  links below to recap on the day’s messages:

Day 1 – the one about developing your Spending Plan
Day 2 – the one about Reducing your Debts
Day 3 – the one about Increasing your Savings
Day 4 – the one about gaining more Financial Knowledge
Day 5 – the one about checking your Credit Report/ Rating
Day 6 – the one about having ‘the Talk’ about Finances
Day 7 – the one about making adjustments for life’s ‘big changes’

From April 2014 all UK Churches are invited to host a FREE  “SMARTER Finance” Seminars to get support for you on your financial journey – These are  bible-based seminars and are delivered in your local church. As part of the Stewardship of our knowledge, member’s have supported other church groups by running these seminars annually since 2004.

Get £1,000 in one year: Jan update now in!

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We’ve updated the blog about an easy way to save £1,000 in one year….

Remember, if you haven’t started this challenge yet, it’s never too late – start now!

Here’s how some of us got on in January:

HoneyBea – Decided to do this as a monthly amount to match the timing of income – thanks for updating the helpful chart  – it suggests how much you can put aside monthly now!  So I’ve done the January amount – it’s only £15 so that was easy.  Am a bit worried about how I will keep my hands of the larger amounts suggested to save over later months so I might put a bit more aside now… this is exciting!!!!

Copperz – £125  : I’m still going with the large lumps every month.  I’ll probably save  £100 each month until November – this money is going to be presents for the family and a holiday next year. I don’t think I need to do thisby standing order – I do mobile banking … and I never forget things like this.

Kate – £60 so far: I’m retired but I want to do this challenge and so I’m saving £20 each week

Anonymous Pete – I still think this savings method is fundamentally flawed and should be adjusted…. I haven’t saved anything yet – I’m looking at different options on savings that are out there

Anonymous 2 – I saved some money but the kids need shoes and I’ve bought a few things for the house and then I loaned some to a friend at work – hopefully I’ll get it back next month…

How would you do this challenge?  

The best comment each month gets a free gift*!

*Free gift is only available to persons over age 18. Must be living in the UK. Must be a member of a Seventh-Day Adventist church within the British Union Conference. Gift is not transferable. New competition opens each month and closes at midnight on the last day of the month British Standard Time

You couldn’t make this up…!

“Give a man a fish, and you have fed him once. Teach him how to fish and HE IS FED for a lifetime.”

Guest blogger takes a look back at the 2014 SEC Expo SMARTER Finances session

“I need £600….”

Delegate: I need £600…
Presenter: OK…  What’s the money for?
Delegate: It’s for my to use for my church department. I want to go to a conference in Geneva this year and need this amount..
Presenter: Have you asked for a grant from your church or from the SEC Department that helps local church activities? 
Delegate: No, not at all.  I know all that but I’ve not done it, it’s such work!
 Presenter: Do you want me to help you find ways of raising the money?
Delegate: No,   I was in your session and just thought that since you know about money you must have some going spare  – so you should give me  – so I’m asking can you give me the £600…

…Banks may have branches… but money doesn’t grow on trees!

What would YOU do?

70/30 Budget Rule:

This is similar to the 80/20 rule – the savings amount is included in the 80%. This is good if you are able to save, but if you on a course of paying down your debts then the savings/ emergency fund may be something you look to build at a later stage. Good post!

Debt Free Sisters

I found this technique a great roadmap for successful budgeting.

 

1. Pay yourself 10% of your take home pay. It would be wise to use a separate checking account and debit card for this 10% which includes your “play money”, dining out, extra-curricular activities or you can put away 5% for that special piece of jewelry.

2. Give away 10%; this could be your tithe, charitable contributions or any particular cause you are interesting in.

3. Save 10% of your take home pay each month; this should be outside of your 401K or retirement saving, but can be part of your emergency fund. Can also include saving for vacation, investments, business start-up money, savings for a special purchase/occasion.

4. The 70% of your income is the lifeline of your budget and should be managed very strategically so that you can make sure the 30% happens. Everyday living expenses include:

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Link

What’s your ‘Money Mindset’?

What’s your ‘Money Mindset’?

This story was suggested by Blog DebtFreeSisters

We’ll each save £1,000 in one year: updates!

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You may have seen the blog about an easy way to save £1,000 in one year….

So, here’s how some of us are getting on:

HoneyBea – Only £6 so far – but it has been weekly: I’m using an account to do the deposits using an app on my mobile phone each Friday… but I forgot this week! I’m going to start a Standing Order, that way it will just happen and I don’t have to think about it from now on…

Copperz – £125  : I decided to do it in large lumps every month.  I’ll probably save  £100 each month until November – this money is going to be presents for the family and a holiday next year.

Kate – £40 so far: I’m retired but I want to do this challenge and so I’m saving £20 each week

Anonymous Pete – I think this savings method is fundamentally flawed and should be adjusted….

Anonymous 1 – Save?? I need some money! Is there any way you could give me £600??

Who’s response do you think is the best/ the worst? Why?  Please share your comments.  

The best comment gets a free gift*!

*Free gift is only available to persons over age 18. Must be living in the UK. Must be a member of an SDA church within the British Union Conference. Gift is not transferable.

Warning: Adventists don’t get rich!

 

TrafficLightFinancialJourney

Thanks to guest blogger for this light hearted post!

Whether I want to become wealthy, financially free or become  poorer I just need to take the same approach.  It’s all about doing what it takes consistently and sustaining that effort over time.

These are the seven actions I’ve seen work best for Adventists in the UK or anywhere else in the world as it happens.

So if you want to avoid becoming wealthy or financially free ….read on!

  1. Don’t read the Bible, especially Proverbs.  Ladies, tear out the page with the secrets of Proverbs 31 and destroy it quickly.  If you do stumble across any Gospel parables, discount all of Jesus’ parables about money.  Tell yourself these parables are only talking about skills and personal talents, not financial management. And shun anyone who shows you bible-based information on wealth.
  2.  Avoid all workshops or seminars that share bible-based money management like the plague.  Be very suspicious of all experienced presenters that are willing to share practical information about money management with you… they must surely be dodgy characters.
  3. Avoid organising a Stewardship Day to share bible-based money management – in fact avoid Stewardship altogether.  Members aren’t interested and don’t need it. But if you are ever forced to run a Financial Stewardship session,  make sure you never include any personal development information; make the speaker just bang on about Tithe or your church Building Fund.  Guilt trip members by telling them God is not pleased. Then quote Malachi 3:10 and remind them “money is the root of all evil so get rid of it by increasing your giving to the church”.
  4. Never ask any questions or do independent investigation of shady deals,  suspicious business or investment opportunities  – if it’s too good to be true, suspend all scepticism… go for it.  What’s the worst that could happen??  And when you do lose your shirt on the scam – blame your pastor, the local church, the Conference Treasurer.  Everyone. Loudly.
  5. Then double down and play the lottery.  For a lot of money. Consistently. Keep your tickets in the Bible… for good luck.  Or take out a high interest debt ‘in faith’ with no way to pay it back… the Lord or the Conference office will provide.   Delay getting any help until the date of any court date… then call the Conference office – a problem shared is a problem halved, not so?
  6. Never be accountable for or do ANY financial housekeeping.  Never save money for a ‘rainy day’. Ever. That is what your local church’s Samaritan Fund is for.  And if you have children, never teach them any money management tips either – you need them to be always financially dependent on you.
  7. Live in the now – don’t prepare for the future.  Never learn how to maximise your income or reduce your expenses. Tell yourself Jesus will come in your lifetime so don’t plan for retirement. On no account make a Will.  Not only can it mysteriously cause you to drop dead earlier than expected, but you definitely don’t need clear plans that state your wishes, leave any security or give inheritance for “your children’s children”  (Prov 13:22 – oops, I’ve slipped up…)

On 12 January 2014 many members in the South of England, UK  attended the “SMARTER Finances” Workshop at the annual SEC Expo, held at Newbold College.  The aim was to share resources to help volunteers in Stewardship and Finance teams in their local churches.

In the  SMARTER Finances workshop we covered:

  • The common myths about money and explained how anyone can have SMARTER Finances.
  • Explain why you do what you do with your money
  • Show how  SMARTER Finances Clubs help members on the Wealth Life Cycle.
  • Shared great stories and tips from other members.

More information on how I got on in another blog!

Deborah Harris is a chartered accountant, board director of DHUA Limited and a Platinum πτο Sorority sister.

Know any other good reasons for not becoming wealthy?  Please share!

Video

Adventist minister uses ‘that swear word’…

(Video of an informal dialogue with Seventh-day Adventist pastor and British Union Conference President, Pastor Ian Sweeney, who kindly shared views of money management)

But he uses what we call ‘that swear word’…!

Here is our transcript of the “SMARTER Finances” panel session for the Pi Tau Omicron (ΠΤΟ) Sorority Year End Celebration.

Hosted in London (December 2013), the Panel explains why we think of it as ‘that swear word’ -the word  “BUDGET”….

Panel Chair: What a practical video!  Pastor Sweeney’s comments were made last year in 2012,  but his views are just as valid today. Panel, what do you think?

Delegate 1: You know, in the presentations I have done with community groups or church members during Stewardship Days, I always find it fascinating the negative emotions that go along with the word ‘budget’.

Delegate 3: That is so interesting, I find the same thing with the sessions we provide back home in the States!

Delegate 2: It’s not a surprise when you look at its earliest definitions, (I’ve just looked it up on Dictonary.com)… This shows that word originally derived between 1400–1450; from the late Middle English word ‘bowgett’  or the Middle French word ‘bougette’  (bouge = bag), or  the Latin word ‘bulga’ + -ette.

Delegate 1: Oh yes, it describes the small pouch or bag of money, often worn at the waist or hidden in your garments to protect against pickpockets and other theives.

Delegate 4: ….and this bag was usually under the sole control and decision-making of the man of the house….

Panel Chair: …and that’s a topic I’m sure could be used to start a whole other panel discussion!

(Laughter from conference delegates and Panel members)

Delegate 3: Well, I’m happy to stay on this subject – I want to hear all about this ancient bag of money, we don’t have this kind of old stuff in the States with all your 1066 history…!

(Laughter from conference delegates and Panel members)

Delegate 2: It had a tightly secured, small opening – so you could put your coins in – but was quite difficult to dip into and get money out of.

Panel Chair: So that’s why ideas of a calorie-controlled diet comes to mind when people use the word “budget”…?

Delegate 2: Yep! So, the definitions in Dictonary.com are no surprise – the noun ‘budget’ is defined as:

  1. an estimate, often itemized, of expected income and expense for a given period in the future.
  2. a plan of operations based on such an estimate.
  3. an itemized allotment of funds, time, etc., for a given period.
  4. the total sum of money set aside or needed for a purpose
  5. a limited stock or supply of something

and the words ‘budgeted’, and ‘budgeting’ often relate to subsistence living; when you ‘live within a budget’.

Delegate 5: … Urgh! No wonder the very word makes me shudder!  A ‘budget’ is often synonymous with feelings of being on a diet, a restriction  – the feeling you have  little or no control … I don’t like owing money but it feels like you are always racing to pay off your bills, of feeling chased down by creditors, burdened by down if like me you have student loans still to sort out.  It just feels like ‘calorie-controlled’ spending with very little room for the fun stuff.  And, like being a diet, it is so easy to lose heart and fail …So you often hear about people ‘blowing their budget’!

Delegate 4: Exactly.  So I actually avoid the word “budget”. Treat it like a swear word, not used in good company and avoid it.  I prefer to think about having a ‘Spending Plan’ instead.

Delegate 2: Give me a Spending Plan anyday… it’s a flexible way to decide how to use your income in that month/ week to meet all of your expenses, contribute to your savings goals and allocate money for the fun things.  And its such a flexible approach … more feeling that you have a coffer or chest of money that you manage rather than a tight-mouthed, tiny purse you force money into or try to prise money out of….

Panel Chair: So now we should pretend we have a treasure chest full of cash?

Delegate 2: OK, yes, in these times it may often feel like we’re all working with a very small sweetie tin rather than a massive chest full of notes and coins, but work with me here!

(Laughter from conference delegates and Panel members)

Delegate 3: I prefer to use the phrase ‘Spending Plan’ when I talk about my regular income and outgoings management.   First I do the ‘audit’ so I know for sure what is coming in this month down to the dollar.  And only then do I decide how my money is used to ‘handle my business’ like the list of expenses you show here (points to the presentation on screen).  So, yeah, I can choose this month not to pay my utilities or my cell phone costs … as long as I am prepared to live with the consequences…

(Laughter from conference delegates and Panel members)

Delegate 1: I agree. With the Spending Plan mentality, I decide the how and when for my money, making sure I make informed choices, taken on a timely basis and based on the information and opportunities that I have in that period.

Panel Chair: So, whether it’s dollars like my friend here, or Euros or Pounds for us in Europe, sometimes the Plan stays the say as circumstances remain steady, other times it may need to change? And a Spending Plan means you can be flexible to take account of these changes when they occur?

Delegate 2: Absolutely!.  You know, it may seem like this approach is more of a state of mind rather than a different activity but that’s just it.  Both are spending.

Delegate 4: You know panel, it all about how you think and behave with your money that makes the difference to whether you’re a success or failure in meeting your financial goals – in the short or long term!

Panel Chair: Panel, thank you for such a lively start to this discussion.  Let’s go to the Q&A and take some questions from our other Sorority delegates.  Over to you ladies!

What’s your view?

Add your comment to the discussion!

Want to know the five most powerful words….?

Well done if you’ve make the commitment to start on your journey of financial literacy journey towards financial freedom.

One of the first things you have to do is your self-audit – to check where you are now, financially.  This will help you plan where you want to get to and how you intend to get there.

If you recently attended one of the nationwide “Access the Power…for your Finances” sessions then you will have been told the five most powerful words you will need to use as you start to collate your spending habits….

‘Yes, I  want the receipt!’

As you hurry through the day, rushing to get that morning paper or mid-morning  snack, or quickly pop out to get the lunchtime sandwich or meal, or the take-away dinner as the faithful replacement for a home meal (it’s been one of those days!) money slips through our fingers almost without noticing.

If you aren’t keeping the Spending Plan Journal then keeping your receipts for each day is one of the ways you can quickly add up and categorise your incidental spending for that day.  Once that is done, unless the receipt is for a big ticket item or part of the warranty information its fine to discard it.

The successful and financial free have a good command of their spending and the sources for their regular income.  We usually have a handle on the latter, this is a quick and simple way to get to grips with the former!

Onwards and upwards, people… and remember ‘yes, I will have the receipt!’

Below are other articles you may find helpful…. and remember we don’t say ‘budget’ we say ‘My Spending Plan!’