The new year finds many folks making resolutions to lose weight and get in shape. Some of us may be in great physical shape but what we need is to go on a spending diet.

Did you know that a lot of the same tricks that can help you lose weight can also help you save more money and cut down on unnecessary spending?

Write It Down

One of the best ways to keep track of the calories you eat every day is to write down everything you eat. The same is true when you are trying to better understand your spending habits. Writing down everything you spend for several days, can help you pinpoint where you are blowing money. It can also help you identify what you are doing right as well. Spending like eating has a mysterious quality to it, and in many cases individuals never truly know how much they are spending until they can see it written down in front of them in black and white.

Make a Plan

If you do not have a set plan for what you will eat each day then you run a greater risk of just eating whatever you like in whatever amounts. This works the same with your money.

Money left to itself tends to disappear.

A well-established budget will designate a job for every dime. Some of that money may be for spending freely, but you must decide ahead of time what that amount will be. To simply pay your bills and then consider all of the rest of your income as “extra” is a recipe for disaster. Assign every dime in your budget and then stick to that religiously.

Accountability

Setting up a system of accountability for your eating and work out plan can increase your chances of success with your weight loss goals. The same holds true for financial goals.

Many people accomplish this by incorporating the help of an accountability partner. You can do this with your money goals as well. Choose a friend or relative who you can trust but whom you know will use tough love with you to make sure you stick to your money commitments. Designate certain check in times either weekly or semi-weekly to go over your spending journal and discuss the strengths and weaknesses during the past few days. It doesn’t need to take very long, just a few minutes should do. Knowing that you will have to sit down and discuss your choices will help you to think twice about unnecessary spending.

Get Professional Assistance

To achieve weight loss goals, many people will consult a dietitian or a personal trainer. When you are trying to shed some extra credit card debt, it may be wise to consult with a debt relief company. The Christian debt relief programs offered by FaithWorks Financial can help you set and achieve your financial goals.

Avoid Temptation

If you are truly committed to your diet, Dairy Queen should not be somewhere you hang out regularly. There are also certain places or people you should avoid when you are on a spending diet as well. If certain malls or stores are always a spending temptation to you, do not visit those places. If certain people influence you to spend more than you should, then either limit your time with them, or make sure you have no money with you when you spend time with them. This may not go over well at first with some friends or family members, especially if these people are taking advantage of you in some way, but stick to your commitments and soon they will learn what the new boundaries are.

Reward Yourself

When you reach a weight loss goal it is a good idea to reward yourself in order to encourage yourself to further success. When you have reached a money goal you should reward yourself as well. Your rewards should not necessarily be a spending reward, though. If you have successfully contributed to your savings account every week, perhaps you could reward yourself by using some of that savings to open a CD, money market account or some other low risk investment. The boost in confidence will further fuel your financial efforts.

It would be ideal if the life stages involved in raising children and caring for aging parents occurred at separate times. However, many parents of young children find themselves caring for their own parents.

According to the Pew Research Center, 47% of adults in their 40s and 50s are both rearing children and caring for aging families. These members of the “sandwich generation” are simply following the words of 1 Timothy 5:4 which reminds us, “But if a widow has children or grandchildren, these should learn first of all to put their religion into practice by caring for their own family and so repaying parents and grandparents, for this is please to God.”.

Anyone who has been in this situation knows that juggling the priorities of multiple generations and maintaining financial balance can be quite difficult.

Open Communication With The Older Generation

Communication is the key to navigating this could-be stressful situation.

Loss of independence and financial matters are both sensitive topics. In the early stages of caring for a aging parent, ask them which financial matters they feel capable of taking care of themselves and which ones they feel comfortable handing over. Specifically discuss who will pay bills, who will make bank deposit and withdrawals, and who will work with insurance companies.

Lean toward helping them maintain as much independence in their own finances as possible, but keep an eye open for signs they may need more assistance. Even if they don’t tell you something is a struggle, it might show through in time.

Aside from the financial aspects, multiple generations living within the same home raises questions about raising children. Talk with your parents about your approach to child rearing, including schedules, who will provide discipline and which discipline methods you use. Being sure everyone in on the same page in the beginning will save frustrations and misunderstanding later.

Open Communication With The Younger Generation

The age of your children will largely guide your discussion about caring for their grandparents. However, even young children can understand the message of Acts 20:35; “It is more blessed to give than to receive” and this is an excellent opportunity to teach compassion and empathy.

Children can play a helpful role in helping a grandparent adapt to a new living situation.

The good news is, multigenerational households offer an excellent opportunity for children to form strong bonds with grandparents. Encourage children to listen to stories and ask questions about their grandparent’s younger days. The older generation will love reminiscing, and the younger generation will cherish the memories they make.

Organize Financial Information

It is important to organize financial information as early in the process of caring for aging parents as possible. The will prevent scrabbling for the information, or being denied access, when it is needed. Round up and organize…

• Social Security Numbers
• Bank account numbers and safety deposit box information
• Insurance policies
• Past tax returns
• Contact information for doctors, lawyers and other professionals

Consider All The Options

Caring for aging parents can take many forms. The arrangement you select will depend on the older generation’s health, as well as the financial impact.

Caring for aging family members while they continue to live in their own home, known as “aging in place”, allows for the highest level of continued independence. However, this plan requires the financial resources to maintain two households. Though it can be difficult, it may be possible if the older generation owns their home, has no debt and significant retirement savings.

Nursing facilities offer the lowest level of independence and can come at a high cost. However, they provide higher levels of skilled care than a family member can provide. Depending on income, there may be financial assistance available to mitigate the cost.

Merging households offers a compromise between the two extremes, and can be a cost-effective solution. Don’t assume that your parents need to move into your home. If their home is already paid for, while yours has a mortgage, it may be better for your family to move in with them.

Whichever solution you choose today, don’t assume it will always be the right one. As health conditions and finances change, it may be necessary to make another move.

Set Aside Time For Your Children

In addition to the financial commitments, caring for aging parents creates new demands on time and emotions. In order for children to continue to thrive and grow, you’ll need to take special care that they get one-on-one time with Mom and Dad.

Plan ahead for special outings and private quite time with children on a regular basis. When children know that they’ll soon have time alone time with parents, they are better able to handle the day-to-day distractions. Also, check in with children continually to find out how they are feeling about the situation and be sure they know they can come to you at any time to talk, ask questions of just for a hug.

Continue To Plan Ahead

Though caring for an aging parent forces the focus to the here and now, it is still important to plan for the future. Trim the budget, to the bare necessities if necessary, so that you do not dip into emergency accounts or your own retirement savings.

In the best-case scenario, continue to contribute to education savings for your children and to your own retirement accounts.

Ask For Help

When caring for an aging parent, the road can be long and difficult, but you do not have to walk it alone. Engage siblings and other family members in honest conversations and develop a plan for managing both the day-to-day responsibilities and the financial obligations together. Also, contact your county’s Office On Aging to find out what resources are available in your area.

Caring for aging parents, while also raising your own family, can be a difficult journey, emotionally, practically and finically. However, it is a responsibility with it’s own rewards.

Social status is a mysterious element of our society. All of us feel its presence, but few of us understand it. The Encyclopedia Britannica describes social status this way, “The relative rank that an individual holds, with attendant rights, duties, and lifestyle, in a social hierarchy based upon honor or prestige.” This “prestige” of course is relevant to your own personal social circle. What might not be looked upon as social status in some circles may be very important to social status in other circles.

In our “middle class” society, social status is most often defined by our education, occupation and possessions to varying degrees. Our homes would probably be the top possession that can influence our social status, but coming in at a close second is definitely our vehicles.

From the moment the vehicle was invented it has been a symbol of just what kind of person you are in the eyes of the people around you. In the early years only the wealthy, modern families had a “horseless carriage.” The same judgments, however, are still being passed today on individuals who perhaps do not own a car, and more often judgments are passed on you based on the year, make, model and condition of your car. This pressure springs us into the “vehicle trap” where we place much too high a value on our vehicles, an emotional value, that will often come at a major financial expense.

This is a problem for the Christian who is attempting to get out of debt or reinvent their financial life to reflect more control and security. Why is this a problem? It is a problem because the root of this entire social status issue has always been pride and our vehicles are a daily reminder of our social or financial status. Most people are familiar with the twinge of embarrassment at some point in their life of having to drive or be driven around in a car that they felt was “beneath” them. That feeling was your pride revolting against something.

“Pride goes before destruction.” Proverbs 16:18

Nowhere is this passage better reflected than in our finances. Pridefulness can cause certain financial destruction when you allow your emotions to influence your spending decisions.

It has become a norm in our society to have monthly payments on our vehicle. For most purchases in our lives, we know that we should save the money and then buy the item. Mortgages and vehicles have become an exception because of their high cots, but in the case of the vehicle it is largely because we are living beyond our means.

Car payments are, in most cases, one of the most unnecessary of all debt payments that individuals strap themselves to. You may say, “I must have a car.” That may be true, but must you have a car that was so expensive that it required you to take on payments? In many cases the answer is no. You chose a car that was above your financial means because it was cool, it was fast, it was pretty, it would make people say, “Wow, nice car.” People want to hear this, and they want to hear it because of their pride.

Affording a nice car is entirely different from strapping on debt for a nice car. If you are already making debt payments on other items or if you have set as a goal for yourself to be debt free, then there is no excuse for taking on an exorbitant car payment when there are cheaper vehicle options available.

Four Surprising Benefits to Avoiding Car Payments

Savings on Interest

Okay, this one isn’t so surprising in and of itself, but the numbers are! According to Edmonds.com, 55% of loans taken out in 2012 were for terms longer than 60 months. That added anywhere from $2,115 to a whopping $5,548 in interest charges above the purchase prices of the vehicle.

Lower Insurance Premiums

When you take out a loan for a vehicle vehicle, the lender holds a lien against the car. You must then meet lien holder insurance requirements that are often above what your coverage would normally entail. Purchasing a vehicle outright eliminates that additional expense.

Opportunity for Personal Growth

If you battle with the desire to keep up with society’s expectations of what kind of car you should be driving, purchasing a car that might not be quite as shiny as the new ones on the lot is an opportunity for personal growth. A shift in your priorities can help you become a more humble individual.

Freedom

This one is especially true as compared to the alternative option of leasing a vehicle. If you own your car outright, there is no concern for how many miles you will drive, or how long you must keep the vehicle. If you find your situation has changed a year after buying the car, you can sell it or trade it in for a new car. With a lease you might be stuck with the car longer than you would want. With a loan, you might be upside down and be unable to trade it in without creating financial pressure.

Ask yourself these questions if you are in need of a vehicle right now:

How much cash do I have on hand to purchase a vehicle?

If you can pay cash for a cheaper, older car do so! This is the wise financial choice.

If I must make a payment which vehicle will have the lowest payment?

Think of this car as a temporary car. This is your “getting out of debt” car. Once you are financially free you might be able to upgrade a bit with cash!

If I knew that no one at all would ever get to see my car, which car would I choose?

This will help you evaluate whether you are functioning off of prideful emotions or practical need.

Buying a vehicle is a major purchase. Take the time to review your budget and carefully evaluate your financial situation before making the decision to take on a monthly payment when it may not be necessary.

For most people, investing is simply done for the sake of acquiring more wealth. For Christian’s, this is setting the bar very low. We should view investing as an opportunity to support businesses and endeavors that promote the betterment of our world.

“Everyone to whom much was given, of him much will be required, and from him to whom they entrusted much, they will demand the more”. Luke 12:48.

Those of us that have money to invest are entrusted by God to do what is right by investing well and choosing businesses that truly improve our world, promote social awareness or provide for the common good.

A Higher Purpose

True wealth goes much beyond than the money in your bank account. It is the relationships we nurture, the ideas we create and share, and the values that we support. Seeking money as a way to have security is one thing, but rising high above those around you financially is unnecessary.

Christian investors that want to be socially responsible should look beyond the potential payout of an investment opportunity. We should seek companies that provide a service or product that adds to our world and does not take away more than it gives back to the world. We should support companies that do good.

Investing With Integrity

Many companies now give out grants to various charitable organizations, promote contests for financial prizes for start up ideas that build stronger communities and overall work hard to provide a supportive work environment for their employees. FaithWorks Financial, for example, donates 10% of fees earned through our debt settlement program to the church of our clients choice. Even companies that do not publicize themselves as Christian organizations do a tremendous amount of good in our world.

On the opposite end of the spectrum, some companies will do whatever they can to make a profit. They will cut costs, cut staff pay, understaff, even at the cost of worker safety.

It’s important to know what type of company you are dealing with before you decide to purchase shares or invest in that company in any way. When you invest in a company, you are supporting the company.

A Bigger Return

Tithing is an issue that may at first seem at odds with investing. After all, tithing is giving a percentage of your income to the church where you choose to worship. Traditionally the tithing percentage is 10% but this is difficult for many individuals and families today.

Tithing is investing. It is investing in the prosperity of the church and keeping the future of your chosen parish alive. Tithing is an investment in God, in worship and in the community that exists in your church.

Investing in small business through micro lending is another way that Christians choose to invest their money responsibly. In micro lending, a person requests funds to start up a business. Generally this person is working hard to get out of a life of poverty. The requests are modest. Each investor can invest any amount towards the total investment the person has requested.

Through a micro loan, an impoverished small business person is given the opportunity to get a business started that they would not have been able to do otherwise.

Once the micro loan is paid back by the business person, the money goes back to the investor with the opportunity to invest the money into the next request. Although this does not create financial gain for the investor, it promotes the Christian value of taking care of each other.

If you are blessed with a financial situation that allows you to consider investments, you have the privilege of helping to form a better world. Investing in a company based on more than dollars and cents will add greater fulfillment and meaning to your investments.

“Blessed are those who find wisdom, those who gain understanding.” Proverbs 3:13

While we are huge proponents of avoiding the use of credit cards in any fashion, we realize that is not what many of our readers choose to do so we’ll take a look today at the responsible use of credit cards.

A huge push by the marketing campaigns of credit issuers focuses on the points you can earn by using the advertised card. Those offers often seem way too good to pass up. After all, if you plan on spending the money anyway, why not earn points you can use towards other things?

In order to be wise in your decision making, there are a few questions you should ask yourself about any credit card that offers you points.

1. Do you tend to carry a balance on your credit card?

If so, the interest you will be paying will quickly outweigh the benefits of the credit card points.

2. Are you paying more for the annual fee on the card than you are receiving in point benefits?

For example, if you racking up $50 worth of points but your card has an annual fee of $60, you’re better off without the card.

3. Are the points good toward anything you need?

Some credit cards offer points that can be redeemed in the form of a discount in particular stores or in trade for things in their catalogue. If you don’t need any of the things you’re being offered, the points are not worth their while.

4. Do the points expire?

It can take a long time of point accumulation to get anything of value in return. By the time you have racked up enough points it is possible that they have expired.

5. Does your debit card already offer incentives?

Many people use their credit card on a regular basis in order to earn points. However, they may be passing up the opportunity to use a debit card that gives them an instant discount — like the Target debit card. you may have better incentives already available, without the annual fees and interest rates of credit cards.

6. Does your card have spending requirements before they begin awarding points?

If so, you may find yourself using that plastic card even when you don’t need to, or justifying an unnecessary purchase since you have to hit their minimum spend limit.

We realize that credit card incentives are very appealing, and sometimes they really do make sense. If you are a disciplined person and can find a card that offers points toward something you regularly use, pay that credit card off in full every month, and take advantage of the points you earned before they expired, great! However, that tends to be more the exception than the norm. It is just like the casino and gaming industry, some will absolutely win, but the entire system is designed in the favor of the credit issuer.

If you must use a credit card, be wise as you choose a card and don’t let incentives that appeal to your emotions overrule a sound decision.

"A gray head is a crown of glory; It is found in the way of righteousness." — Proverbs 16:31

When you work for a large company, saving for retirement is often as easy as enrolling in your company’s 401k program or working for the company long enough to qualify for a pension. Some companies even match the contributions you make to your retirement account. When you’re self-employed, planning and saving for a Christian retirement requires a little more effort.

Types of savings plans plan for the self-employed

There are several types of saving plans available to those who own their own businesses or work as freelance writers, designers, artists or consultants. Below are just a few to consider:

1. SEP IRA — A Simplified Employee Pension (SEP) IRA is an easy way for any self-employed person to save, no matter what their income. This type of account can be opened at most any bank or financial institution and there are few, if any, fees associated with these account. You are allowed to contribute up to 25% of your earnings, up to a cap that increases annually. (The 2013 limit is $51,000.) Your contributions are tax-sheltered until you withdraw the money at retirement.

2. Solo 401k. A solo (or traditional) 401k allows you to contribute both as an employee and as a boss. The maximums are currently $5,500 as an employee ($6,500 if you are over age 50) and 25 percent of your income as a boss. Both amounts are discretionary, so you can contribute a lot in a good year to help reduce your tax liability and scale down your contribution in a lean year. As with the SEP IRA, your contributions are not subject to income tax until you withdraw the money.

3. Simple IRA. A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a good choice for a self-employed person who plans on hiring employees at some time in the future. With a Simple IRA, you can continue to contribute to the same plan even after your company grows. The current maximum contribution to a Simple IRA is $11,500 ($14,000 if you are over 50), but you’re required to match 3% of your employees’ contributions. Like the SEP IRA, your contributions are tax-sheltered until retirement. However, this plan has a hefty penalty (25% compared to the SEP’s 10%) if you have to withdraw your funds before retirement.

If you’re self-employed and having trouble finding extra money each month to set aside towards planning for a Christian retirement, perhaps we can help. Faithworks Financial is a Christian debt relief company. If credit card bills and other installment payments are keeping you from creating a secure future for you and your family, a debt management plan can help you pay off those debts so you can start paying yourself and saving for your retirement. Call us at 877-232-5109 to discuss your options with one of our caring Christian debt counselors.

Whether you are thinking of buying a homestead or considering buying property as an investment, the option of purchasing a foreclosure has likely crossed your mind. Understanding the pros and cons of buying foreclosed property will help you make better decisions.

Bankers and realtors use the term “distressed property” to describe homes that are either already involved in the foreclosure process or that are subject to repossession soon. There are three general types of distressed property.

Foreclosed

Foreclosed property is owned by the financial institution that issued the mortgage. This means that homeowners stopped making payments and the bank went through the legal processes to reclaim the property.

While selling prices can be significantly less than market value (30% to 85%), buyers must be cautious.

Usually when an individual has gone through a foreclosure, they had other financial obligations go awry as well. Because of this, some foreclosed properties may have liens attached to them from other creditors.

If the property is part of a bankruptcy filing, settling the purchase could take years to resolve.
A few states allow borrowers to pay the full balance at any point prior to auction, effectively stopping the foreclosure.

If you are considering a foreclosed home, verify the home is unoccupied, free from liens and not subject to any settlement agreements. Of course, if the price is substantially below market-value, you could make an offer, providing you have protection against loss if the property is pulled from the market for any reason.

Auction-ready

After lenders satisfy all legal requirements for foreclosure, homes go on the auction block. Typically the auction is held on the court house steps at the county seat where the home stands. Starting prices may be fixed or open.

A fixed starting price means that the bank sets a base price that is the lowest amount they are willing to accept. This might be the balance due on the original loan or a discounted figure based on property condition.

An open bidding platform means that the bank is ready to get the property sold and is willing to accept the highest bid offered — even if it does not cover the loan balance. Some banks do this because the state where the property is located allows banks to recover the difference through a judgment against the prior homeowner. Sometimes the property needs extensive repair and it is a financial liability to the lender. In either event, these are often very good investment opportunities.

Buying property at auction means that you have cash in hand, a certified check or a letter of credit from your bank. Loans are generally not accepted on this type of purchase.

Pre-foreclosure

When a bank notifies a homeowner that foreclosure is imminent, but not in progress, this is called pre-foreclosure. Homeowners can legally list the property for sale themselves or list with a licensed realtor, as long as they disclose the mortgage status to potential buyers.

Finding property for sale in pre-foreclosure status generally means you should be ready for a quick closing. Sellers who want to avoid bankruptcy or repossession are usually willing to discount the property. Financing options for homes in this category are similar to other on-the-market homes. Most qualify for FHA, VA or Conventional loans if they are well-maintained or need minimal repairs.

It might seem harsh to haggle for a bottom-dollar price when someone else is struggling financially. The best way to approach this type of transaction is with the understanding that it can be beneficial to both parties.

Things to Keep in Mind

1. Inspect all property before you bid or make an offer, extensive damage must be repaired before FHA, Conventional or VA loans receive approval.
2. If you need financing, check with your lender to find out what type of loans are available for distressed property.
3. Understand your state and local laws about occupancy. Some states do not allow eviction if a tenant has a current legal lease.

FaithWorks Financial provides counseling services for debt management and financial planning. If you are trying to get your financial house in order before you can purchase a home, contact us for a free debt relief consultation.

Todays article is a continuation of our Retirement Planning Basics series.

You may also enjoy:    Traditional IRA       401(k)

Planning for a Christian retirement involves good stewardship and seeking wise counsel. It is crucial to fully understand any investment vehicle before getting started, especially when planning for your retirement. This article will cover the basics of the Roth IRA, but be sure to do your due diligence and consider speaking with a financial advisor before making any commitments.

Understanding the Basics

Like many other retirement plans, the Roth IRA is a tax-advantaged, interest-earning account. Unlike the 401(k), there are no employer or government matching fund elements. All money that goes into a Roth IRA comes from your job income. You can deposit into your Roth IRA as long as you are earning money from work activity, regardless of your age.

The primary difference between the IRA and the Roth IRA is that the Roth IRA is not tax-deffered at the time of deposit, you still need to pay taxes on the funds you deposit. However, whereas a you pay your taxes at the time of withdrawal with a traditional IRA, your withdrawals are not taxed with the Roth IRA.

Flexibility and Freedom

On the surface, the Roth IRA might not sound so beneficial, but the structure gives you flexibility and freedom that other accounts don’t offer. Since you have already paid taxes on this money, you can withdraw any amount, any time, for any reason without a penalty as long as you leave all dividends in the account. No fees, no taxes, no hoops to jump through. When God says “Go”, you are ready. This makes the Roth IRA preferable to individuals who are uncomfortable with risking a penalty if they need to access their funds before age 59 1/2.

Quick Facts

• There is no mandatory withdrawal — you can leave the money to heirs; they pay no inheritance tax.
• You can withdraw interest earnings without tax/penalty to purchase your first home (up to $10,000) or if you become disabled.
• You pay taxes, but no penalty, for interest earnings used to pay for secondary education for yourself or family members.
• Accounts must be designated as a Roth IRA when opened.
• Deposits are not tax deductible; you must report interest earnings on annual tax return.

Is A Roth IRA Right For Me?

Though you will want to seek wise counsel as well as prayerfully consider any investment, a Roth IRA is thought to be especially beneficial for young adults who are planning for a Christian retirement. This is because young individuals are likely not at the height of their career, and are likely in a lower tax bracket than someone who is more established. The longer that the account is open, the more compound interest the funds earn. Many people starting their careers who earn less than well-established professionals don’t rely on tax deductions and typically aren’t negatively impacted. Also people in higher-tax brackets appreciate the tax advantages for their heirs.

Though there are limits and exceptions not discussed in this article, the Roth IRA can be a great route to consider if flexibility and access to your money is important to you.

Whether you are on solid financial footing and give regularly, or are struggling just to put food on the table, it is important to review your giving. The key to good Christian financial planning is balance and a grateful heart. Setting giving goals that are both practical and generous requires you to take a step back and look at your money habits.

Analyze your Budget

Start by figuring out what you can afford to give regularly. Though the traditional tithe is 10% of your income, there is no reason that you should not give to your full capacity, whether it be above or below that amount. Each person must come up with a figure based on his or her budget. Look for areas you can cut back. For example, if you budget 50 dollars a week for restaurant meals, consider eating at home more and then donating half that number.

Give It before You Miss It

The book of Matthew offers a bit of wisdom in this matter.

Chapter 6: 3-4: “But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. Then your Father, who sees what is done in secret, will reward you.“

Sometimes giving more requires a little slight of hand. Start with your employer. Ask about setting up charity donations deducted right from your paycheck. This is an effective way to track your giving for tax purposes, as well. It also encourages others to follow your lead. Your employer might even decide to match any donations – doubling the offering.

Look for charities that will automatically withdraw the funds from your bank account. This gives you the pleasure of seeing the payment go out without having decide how much to give each month.

Think Outside of the Box

If your budget is as tight as you can make it, then look for other ways to give.

Learn to super coupon – Couponing is not only a great way to save money, but can also be an awesome opportunity to help the less fortunate. Consider hosting a food drive in which all of the items have to be the product of a coupon deal. See who can provide the most (usable!) items at the lowest cost and award a small prize.

Give time instead of money – Giving doesn’t have to be monetary. Check at your church for volunteer and missionary opportunities. Call the local shelter, food bank or kitchen to see if you can lend a hand. Giving time allows you to help people in your community and make friends in the process.

Give as a family – Create activities that your whole family can do to such as collecting cans to recycle or setting up food drives two or three times a year.

Deuteronomy 16:17: “Each of you must bring a gift in proportion to the way the Lord your God has blessed you.”

In other words, if you cannot afford the traditional 10% tithe at this time, give what you can afford by setting achievable goals. With prayerful consideration and practical budgeting, you can enrich your life while helping others.

While you probably strive to give all throughout the year, the Christmas season provides a wonderful opportunity to expand on your financial giving. By planning ahead, you can enjoy the blessing of giving even more this Christmas season by helping others in need.

There are many ways in which you can help others through your financial giving this Christmas season. Here are a few opportunities for you to give more this Christmas.

Adopt a Family

Last year, we spoke with our church and asked if they knew of a family in need. They were able to facilitate our “adopting” a family anonymously so that we did not need to know who it was that was having difficulties, and they did not need to know who was helping them. It was a wonderful experience to be able to help someone out expecting not even a thank you in return.

Donate a Dinner

Your church or a local community service may be organizing programs to help struggling families enjoy a meal this Christmas. Taking part in a food drive is an excellent way to help others even if you are in the midst of a Christian debt consolidation program. Even if you cannot afford to pick up some extra food at the grocery store and cannot find any food to offer from your own cabinets, offering your time at the food drive is often the most helpful thing you can do.

Support a Charity

You can also consider giving financially to your favorite charity, missionaries, orphanage, homeless shelter or other worthy cause. In today’s difficult economic times, there are multitudes of people in need. Your giving can make a marked difference in the lives of others and have a positive effect on their future.

Give the Gift of Charity

Just can’t figure out what to get for that one family member? Consider supporting a cause that is dear to them. This is a great way to truly embody the spirit of Christmas giving, and they will probably appreciate that you are supporting something that is meaningful to them.

Maintain Your Budget

By having financial goals, you can maintain a more Biblical financial perspective. Your future objectives may include saving money for your children’s higher education, investing in a new home, buying a new car, expanding your business, etc. Maintaining your budget through the Christmas season can be difficult, especially considering all of the media hype and the ad-frenzy that is poured upon us. Maintaining your perspective in spite of the hype is a part of a Christian’s financial responsibility.

Christmas is a time that we should view as an opportunity to extend our giving above and beyond our normal tithe so that we can share the Christmas spirit with others. As the year comes to a close, it’s always a good idea to incorporate giving into your Christian budget in preparation for Christmas.

Merry Christmas!