Wisdom With Wealth News

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Biblical Financial Literacy: An Introduction

financial basicsIn just three years, the greatest teacher of all time impacted the world more than anyone else. How was that possible? Jesus Christ was both human and divine. What did He say about financial literacy? A lot! He taught about money matters more than heaven and hell combined. Many of His parables were filled with financial overtones. 

What did he say? Before I get into specifics, let me say emphatically that if our government gurus studied Jesus’ teachings on the proper use of money, we would not be in today’s financial mess. Sometimes, I think senior finance bureaucrats need a Dave Ramsay course or counsel from Mary Hunt!

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Investing During the Great Reset Robbery

savingsHow do you invest during a robbery? Robbery? What robbery? Would governments ever take away our wealth? How trustworthy are they with taxpayer’s money? Is this just conspiracy theory or fiction? Look at https://www.weforum.org/agenda/2016/11/how-life-could-change-2030/

I believe the massive financial stimuli by central governments in Canada and the US are creating a huge bubble in the stock and housing markets. I cannot understand how a government-mandated productivity decrease causes our wealth to increase. Government stimuli through increased monetary supply and infrastructure spending is certainly pumping more money into the system, but not more wealth. A day of reckoning is coming, but I don’t know when. In the meantime, we need to work on our financial fitness by sharpening our skills in four areas.

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The Great Reset Robbery: Part Four

Warm Greetings from Calgary!

I hope you are keeping well and looking forward to the summer.

sharingI'm still expecting the North American money markets to go down to pay for our expensive and erratic responses to Covid. It would be very different if our governments had billions stored in reserve—like the vast amounts of resources the ancient Egyptian government stored during the seven years of plenty, which preceded seven years of famine. Not so for Canada or the USA; our spending was all debt-driven. Our bills will come. When? I don't know. To put things in perspective, when Justin Trudeau debated Stephen Harper back in 2015, Trudeau forecast an annual government overspending of about $10 Billion. The latest projection for 2020-21 is about $350 Billion. (35 times higher!) Of course, no one foresaw the pandemic. Nonetheless, we must deal with its financial consequences sooner or later. Let's remember the big picture.

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The Three Biggest Money Myths

Are we being fooled about money? In this short article, Tom talks about the three biggest money myths we are often led to believe, and why it’s dangerous to believe them.

1. You must have a lot of money to be a good money manager: FALSE.

10022013-moneybagsHow did the great money managers develop their skills? They all started small. Skill and amount differs like a pianist and a piano. Some say, “Just let me win the lottery and I’ll show you how good I am at managing money.” Dream on. Jesus said, “He who is faithful with little is also faithful with much,” (Luke 16:10). The skill of money management is more important and valuable than the money itself. God says in Proverbs 8:11, “Wisdom is better than jewels and all that you desire cannot compare with her.” Let me go on to say that good money skills usually attracts more money, but not always. The key is to focus on skill development, not on quantity.

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Gold is like Yogurt

Recently, I read an article in the Financial Post saying that some States in America (15 to be specific) are aggressively looking at establishing their own local currencies based on a gold standard. The Colorado Honest Money Act, the Vermont Dollars bill, and the Georgia Constitutional Tender Act among others exemplify the deep frustration with the massive printing of U.S. dollars during the past four years. Quoting from the Post: “Once the domain of crackpots and wingnuts, a growing number of Americans believe returning to the gold standard or bringing gold coins back into circulation, is the only way to restore sanity to the fiscal system that is out of control.” In Utah, a law went into effect in May making gold and silver coins legal tender and exempting the exchange of coins from income or sales tax liability.” Imagine that, the establishment of new local currencies. It makes me remember the Master’s words: “A kingdom divided against itself cannot stand,” Mark 3:24.

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