terisaclark

Financial wisdom from a woman of faith

Archive for the month “July, 2014”

Honest Question: Should I tithe first or after I have paid my bills

It was an honest question…he was a spiritual man who was wrestling with the conviction he has to pay his debts.  He said it well, but that money is not mine if I owe it to some one else.

Right indeed.  And that’s just what I felt he needed to remind him about 100% of his income – it does not belong to him.  It all belongs to God.  After all, it is because of God that we have breath in our lungs each morning.  It is He who gives us the brains to do our work.  It is He who gives us the physical, emotional and mental health to work every day.  It’s because of Him that we have the favor and opportunity to work where we are.

Without God we would have nothing.  And all God is asking for is – 10%.  A small amount.  That is a reminder that it all comes from Him.  It is worship back to Him.  A thankful heart for all He has given us.

Great question my friend!  Glad you asked.

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Wisdom Wednesday//Proverbs 10:4//Hard Work

Proverbs 10:4 (NIV)

Lazy hands make for poverty, but diligent hands bring wealth.

 

There’s no secret to it….God wants us to have wealth and He tells us how to do it.  Diligent Hands! Hard Work!  I meet people every day that are looking for someway to get rich but not work.  Let me save you some time…it’s futile.  The way to wealth is work.  The work on the way to wealth builds the character needed to sustain it when you get there.  There are no short cuts.  There is no lazy way to wealth.

Keep your hands on the plow.  Stay diligent.  You will reap the rewards of your work!

Big Hat No Cattle

I had lived in Texas for all of 2 months when I first heard the phrase “Big Hat No Cattle.”  I was in a Church Board meeting and one of our Elders responded to the situation at hand with the simple phrase – it’s just big hat, not cattle.  Meaning that the situation wasn’t what it appeared to be.  I left that business meeting and went home to read the “Texas Lingo” book that my former co-workers in New Mexico had given me as a going away gift.  That phrase turned out to give the wisdom needed in that situation and has continued to be a pillar of great wisdom in my life.

Country singer Randy Newman’s 1999 song by the same name gives his detailed explanation of what it means to have Big Hat, No Cattle.  Read more here.  Lies lies lies…

So when you think about money, what does it mean to live financial with a Big Hat, No Cattle?  I’d say it means that you are living a life of debt.  You look like you have a lot, but it’s not really yours.  You owe it all to someone else.  Maybe it is looking like everything is ok, but you’re really struggling.  Living paycheck to paycheck.

Having a big hat is not a bad thing…but we want you to have the cattle to go with it!  The peace of financial freedom.  The joy of being debt free.  So take that next step. Stop putting off to tomorrow what you need to change today.  Start a financial study.  Hire a Financial coach.  Do what it takes cowboy/cowgirl! You got this!  Saddle up.  We’re here cheering for you!

 

 

Wisdom Wednesday//Co-signing//Proverbs 17:18

Proverbs 17:18 (NLT)

It’s poor judgment to guarantee another person’s debt or put up security for a friend.

 

Interesting scripture!  But it’s clear that God’s financial wisdom includes a strong word against co-signing.

I’ve never seen this go well.  I’ve witnessed it go wrong every time.  The relationship gets strained even when the borrower still repays it.  It’s like the debtor is also indebted to the one that co-signed for them. This changes the relationship from friend/family to borrower/slave to lender.  And in the cases where the debt is defaulted on, the co-signor now has themselves a debt they didn’t owe.  That will destroy the relationship for sure.

Recommendation:  Pay cash.  Avoid loans requiring co-signors (these loans are typically high interest rate/high risk loans too).  Kindly say no to someone asking you to co-sign for them.  Remind them you rather stay friends/family 🙂  Exercise good judgement – follow Proverbs 17:18.

Any war stories out there that you want to tell me about co-signing??  Change the names to protect the innocent.

 

 

 

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