It has stood the test of time.
00:00:07.43\00:00:12.23
God4s book, the Bible.
00:00:12.23\00:00:16.96
Still relevant in
today4s complex world ......
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It Is Written,
sharing hope around the globe.
00:00:22.26\00:00:36.76
Thanks for joining me today.
00:00:36.76\00:00:38.83
If there4s one subject the
Bible speaks about more than
00:00:38.83\00:00:41.76
any other, what
do you think it is?
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Alright.
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I'll tell you.
00:00:45.96\00:00:47.73
The Bible speaks about money,
about finances more than it
00:00:47.73\00:00:52.23
does about any other
single subject, which ought to
00:00:52.23\00:00:55.76
suggest to us that the
subject of finance and money
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and money management is
important and is important in
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the sight of God.
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Today I am in Eastern
Tennessee and my guest is Ed
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Reid, who has written the
book about money management.
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Ed, thanks for joining me today.
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ER: Well, it's a
pleasure to be with you, John.
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JB: Let's start by asking
you why you think there's not a
00:01:15.20\00:01:17.56
lot of time left
for planet earth.
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Why are these the last days?
00:01:20.06\00:01:20.86
ER: Well the Bible
gives two ways for us to know.
00:01:20.86\00:01:22.73
The first one is the great
prophetic timeline and we see
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the time is running out and
the other one are signs that
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Jesus gave us and we would
see near the end and they're
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in abundance today.
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JB: Such as?
00:01:32.70\00:01:33.43
ER: Well,
earthquakes, for example.
00:01:33.43\00:01:35.50
Matthew, Mark, Luke and John,
especially Matthew, Mark and
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Luke talk about the
synoptic gospels, earthquakes in
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different places near the end
as an indication of end-time.
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JB: Okay, now, Devil's advocate.
00:01:44.16\00:01:46.23
There have
always been earthquakes.
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They had them
back in Bible times.
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Why should we be concerned
when another earthquake
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strikes today?
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ER: Five of the largest
earthquakes ever to occur on
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the earth have happened in
the last 50 years, over a 6
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thousand year history.
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JB: Jesus in Matthew 24
said these signs would be like
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birth pains, didn't he?
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ER: Yes.
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JB: Which indicates that
they would become more frequent
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and more intense.
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ER: Indeed.
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JB: Do you think
we are seeing that?
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ER: I do, indeed.
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Yes.
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JB: Okay.
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Now if you think that we
are getting close to the end of
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time.
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I believe that.
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I believe that and many,
many people watching today are
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totally convinced of that.
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The Bible talks an awful
lot about money and finance.
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Clearly a very important
subject, and very important
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God.
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It's important to all of us.
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If we don't have it,
life becomes a difficult
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proposition.
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How, then, should people of
faith who are convinced that
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Jesus is returning some
time soon, and I know that word
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soon is a relative word,
how should people be approaching
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their finances keeping in
mind the end might be near.
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ER: Well I think the
first thing to do is to put God
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first in your life.
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I could give you a long
time recitation of things to do,
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you know,
budgeting, and all that.
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But I think - the Book of
Proverbs, the third chapter,
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talks about honor the
Lord with your possessions and
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with the first part of all
your increase and your barns
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will be filled with plenty
and your vats with new wine
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and so on.
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Those are written to farmer
people but they apply to us
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in the same way.
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And it says "don't be
wise in your own eyes.
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Fear the Lord and depart
from evil" and so on, so I think
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putting God first.
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JB: Okay now, let
me ask you a question.
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Right there in Proverbs
3, Honor the Lord with your
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substance.
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What does that mean?
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ER: Well, I use the New
King James version, and it says
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"your possessions",
"your stuff", we would say.
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Honor the Lord with your stuff.
00:03:30.93\00:03:32.70
And this means, well,
you mentioned that the Bible
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talks more about money than
about any other subject - any
00:03:35.36\00:03:37.46
other single subject - and
more than two thousand verses
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talk about it.
00:03:40.40\00:03:41.53
Somebody asked me, well,
what is your favorite one?
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Well, it's not even a many
one, but Genesis 1:1 says "In
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the beginning, God created
the heavens and the earth."
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So if God is the
Creator, I'm a creature.
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If he's the Creator He's
the Owner, I'm just a manager.
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So the way I manage
God's money is a very, very
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important situation.
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I believe that we
are saved by faith alone.
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The great Prostestant tradition.
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But the fact is we're not
saved by our money management
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but we can manage away from God.
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Do you get what
I'm saying by that?
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We could move
away in our management.
00:04:09.60\00:04:11.23
JB: Certainly.
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ER: Thinking in terms
of selfishness and so on.
00:04:11.80\00:04:12.96
In fact, one of the signs
of the end is in 2 Timothy, the
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third chapter, where it
says "in the last days perilous
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times will come and men
will be lovers of themselves
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[they're selfish]
and lovers of money".
00:04:22.10\00:04:25.26
That's an amazing one.
00:04:25.26\00:04:26.00
And then also, the 5th
chapter of James, in the
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first five verses says
"The rich will heap up treasures
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for the last days.
00:04:31.13\00:04:33.63
It's all going to get burned up.
00:04:33.63\00:04:35.20
That's the amazing thing.
00:04:35.20\00:04:36.13
But the interesting
thing is they are doing it.
00:04:36.13\00:04:37.93
Let me give you an
illustration of last day
00:04:37.93\00:04:39.80
stuff.
00:04:39.80\00:04:40.80
JB: Sure.
00:04:40.80\00:04:41.60
ER: If I am a professional
person with advanced degrees
00:04:41.60\00:04:43.70
and I could earn about a
hundred thousand a year, in
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my entire lifetime - and
this is amazing - of 40 years of
00:04:46.86\00:04:51.36
working, I will make
four million dollars.
00:04:51.36\00:04:55.46
Recently, even during the
economic downturn, some of
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the Wall Street bankers got
bonuses of 40 million dollars
00:04:59.33\00:05:03.90
which is 10 times more than
a professional person will make
00:05:03.90\00:05:07.20
in his entire
lifetime of hard work.
00:05:07.20\00:05:10.36
Now this is incredible.
00:05:10.36\00:05:11.26
Do you understand?
00:05:11.26\00:05:12.10
The rich are saving
up for the last days.
00:05:12.10\00:05:14.56
JB: Sure ER: There could
not be a better example of that,
00:05:14.56\00:05:16.96
in my opinion.
00:05:16.96\00:05:18.63
JB: So now, we are honoring
the Lord with our substance,
00:05:18.63\00:05:20.93
with our possessions, our stuff.
00:05:20.93\00:05:23.53
ER: Yes.
00:05:23.53\00:05:24.76
JB: Planning for the
last days of earth's history.
00:05:24.76\00:05:26.73
Now, I don't expect that
you are going to be an extremist
00:05:26.73\00:05:28.23
on this.
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I don't think you're
going to be a radical on this.
00:05:29.00\00:05:31.30
How do we go about that?
00:05:31.30\00:05:32.63
What should we be thinking?
00:05:32.63\00:05:33.76
ER: The very first thing I
am telling people now is ...
00:05:33.76\00:05:35.53
people say, well, is it time
to get back into the market?
00:05:35.53\00:05:37.53
Should we start investing again?
00:05:37.53\00:05:39.53
And I tell people, if
you have any debts at all,
00:05:39.53\00:05:41.66
investing in your own debt
is the best thing you can do.
00:05:41.66\00:05:44.83
Guaranteed returns, better
interest rate that you can
00:05:44.83\00:05:48.16
get, even if your
money is in there.
00:05:48.16\00:05:50.00
Better than the stock market
where you could lose it --
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many people
have, as you may know.
00:05:51.83\00:05:53.43
And the amazing thing
about it is that people, even on
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credit card debt, the average
year now, 915 billion dollars
00:05:55.50\00:06:01.93
a month is not paid off on
credit cards that are carried
00:06:01.93\00:06:05.06
over from month to month.
00:06:05.06\00:06:06.33
Minimum 10% and probably
many of those up to 27%.
00:06:06.33\00:06:09.60
People are praying on
those kinds of balances and not
00:06:09.60\00:06:11.60
paying off those credit cards.
00:06:11.60\00:06:13.46
So I would say, after putting
God first in your life, which
00:06:13.46\00:06:15.90
is managing from God's
perspective, and that would
00:06:15.90\00:06:18.66
include the tithe and so
on, but then the very best thing
00:06:18.66\00:06:21.13
you can - practical
management - do your very
00:06:21.13\00:06:24.03
best to get out of debt.
00:06:24.03\00:06:24.93
JB: Okay.
00:06:24.93\00:06:25.83
You mentioned credit card debt.
00:06:25.83\00:06:27.43
What other debts
are people carrying?
00:06:27.43\00:06:29.23
ER: Well, I'll just give
you, for example, automobiles.
00:06:29.23\00:06:32.73
Almost everybody who is
making time payments on a car
00:06:32.73\00:06:34.20
actually owes more
on it than it's worth.
00:06:34.20\00:06:37.10
So I'm suggesting, and
I practice this myself, to
00:06:37.10\00:06:40.40
drive your car at least 10
years and then you get twice
00:06:40.40\00:06:42.70
its value out of it.
00:06:42.70\00:06:44.30
Take care of it.
00:06:44.30\00:06:45.23
Manage it.
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You know, instead of
having to have a new one.
00:06:46.16\00:06:47.83
Many new cars are sold on
looks, as you know, somebody
00:06:47.83\00:06:50.20
on TV you see them driving
down the neighborhood and
00:06:50.20\00:06:52.43
somebody runs up to the
porch to see somebody's new car.
00:06:52.43\00:06:54.43
It doesn't tell you what kind
of mileage it gets, how long
00:06:54.43\00:06:56.43
it will last, or anything.
00:06:56.43\00:06:57.30
It's just well,
we need a new car.
00:06:57.30\00:06:59.13
The bottom line is take
care of your car and drive it a
00:06:59.13\00:07:01.50
long time then you're not
upside down on the mortgage.
00:07:01.50\00:07:03.56
JB: Now, now you're
suggesting now, you're
00:07:03.56\00:07:05.66
suggesting ...
00:07:05.66\00:07:08.00
I want that new car, man ...
00:07:08.00\00:07:09.86
You're suggesting how I might
be ordering my priorities and
00:07:09.86\00:07:15.86
and and yeah, I might want that.
00:07:15.86\00:07:18.96
I really want that new car, Ed.
00:07:18.96\00:07:20.66
ER: You told me not to be
radical but I am going to be
00:07:20.66\00:07:22.46
radical in one thing.
00:07:22.46\00:07:23.96
In an ideal world,
people would pay cash for their
00:07:23.96\00:07:26.83
cars.
00:07:26.83\00:07:27.83
So, once you get your car
paid off if you save up the
00:07:27.83\00:07:30.16
equivalent of a car payment
until you have enough to pay
00:07:30.16\00:07:32.56
cash - by the way, if you pay
cash, you are really going to
00:07:32.56\00:07:35.66
think twice about "do I
really want to spend $30,000
00:07:35.66\00:07:38.80
of my money on this car?
00:07:38.80\00:07:41.00
Do you see what I'm saying?
00:07:41.00\00:07:41.83
JB: Yeah.
00:07:41.83\00:07:42.40
Whereas if you're
putting down a down payment and
00:07:42.40\00:07:43.90
paying it off over 10
years, it doesn't seem quite so
00:07:43.90\00:07:45.43
painful and the actual
fact is it's way more payments.
00:07:45.43\00:07:47.50
ER: Yes, it's actually 50%
more by doing that over time.
00:07:47.50\00:07:49.70
JB: Okay.
00:07:49.70\00:07:51.06
We looked at a
couple of things right now.
00:07:51.06\00:07:53.36
One of them -
getting out of debt.
00:07:53.36\00:07:55.86
Looking after yourself
by paying down your debt and
00:07:55.86\00:07:58.10
being free from debt.
00:07:58.10\00:07:59.86
We talked about cars.
00:07:59.86\00:08:01.00
I'm sure we are going to
talk about more things in a
00:08:01.00\00:08:02.93
moment.
00:08:02.93\00:08:03.96
Money management, stewardship
as the approach of Jesus is
00:08:03.96\00:08:06.46
near.
00:08:06.46\00:08:08.76
Thanks for joining me today.
00:08:08.76\00:08:09.86
Don't go away.
00:08:09.86\00:08:10.66
I'll be back in just a moment.
00:08:10.66\00:08:13.73
In Matthew 4:4 the Word of
God says "It is written 'Man
00:08:13.73\00:08:17.63
shall not live by bread
alone but by every word that
00:08:17.63\00:08:21.33
proceeds out of
the mouth of God'."
00:08:21.33\00:08:23.33
Every Word is a one minute
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00:08:23.33\00:08:26.63
presented by Pastor
John Bradshaw and designed
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especially for
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Look for Every Word on
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Visit our website
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00:09:01.63\00:09:06.56
Thanks for being with me today.
00:09:06.56\00:09:08.46
I am joined today by Ed Reid
who has literally written the
00:09:08.46\00:09:10.86
book on money management
and on Bible prophecy.
00:09:10.86\00:09:14.96
And today we are looking
at how a person should plan
00:09:14.96\00:09:18.10
financially keeping in
mind that Jesus' return is near.
00:09:18.10\00:09:23.56
JB:A moment ago, Ed, we
were talking about how important
00:09:23.56\00:09:25.26
it is that a person
should want to get out of debt.
00:09:25.26\00:09:27.76
We looked at some of
those debts might be.
00:09:27.76\00:09:31.56
You mentioned
clearing car payments.
00:09:31.56\00:09:32.96
ER: Credit cards.
00:09:32.96\00:09:33.36
JB: What are some other....
00:09:33.36\00:09:34.26
and credit cards, thanks.
00:09:34.26\00:09:35.73
What are some other areas
that people typically carry
00:09:35.73\00:09:38.10
debt on that they might
and perhaps even relatively
00:09:38.10\00:09:40.80
easily, clear those
debts and get out of debt?
00:09:40.80\00:09:43.16
ER: Well, a lot of people
don't think about this but I
00:09:43.16\00:09:44.80
actually encourage people to
prepay the principal on their
00:09:44.80\00:09:47.86
home mortgage.
00:09:47.86\00:09:51.60
Houses cost so much
today because there is credit
00:09:51.60\00:09:53.50
available so we almost
always have to get a loan.
00:09:53.50\00:09:55.90
Very few people have the
cash to do it so I encourage
00:09:55.90\00:09:58.33
people to get an
amortization schedule and prepay
00:09:58.33\00:10:03.53
principle, like when you
make a regular payment make
00:10:03.53\00:10:04.93
another payment's principal,
if you can, each month if you
00:10:04.93\00:10:06.60
can, and pay your
house off in half the time.
00:10:06.60\00:10:08.80
JB: Okay.
00:10:08.80\00:10:09.56
Explain that a
little more slowly.
00:10:09.56\00:10:13.36
ER: Alright.
00:10:13.36\00:10:14.40
If you have an amortization
schedule, it has like 5
00:10:14.40\00:10:15.90
columns in it and one of them
is the number of the payment
00:10:15.90\00:10:17.96
like 1-360, and then it's
how much the payment itself is,
00:10:17.96\00:10:20.53
how much goes to the bank for
interest, how much of that is
00:10:20.53\00:10:21.83
principle and
what your balance is.
00:10:21.83\00:10:23.13
And every time you make
one regular payment, which you
00:10:23.13\00:10:28.76
have to do every month,
add next month's principal
00:10:28.76\00:10:31.30
payment, which is a much
smaller sum (for some people
00:10:31.30\00:10:34.86
it will be like $150).
00:10:34.86\00:10:36.73
When you do that, you've
paid two payments in one and the
00:10:36.73\00:10:40.03
next time the third payment.
00:10:40.03\00:10:42.10
So you can pay it
off in half the time.
00:10:42.10\00:10:44.00
That's incredible.
00:10:44.00\00:10:45.30
I've done that
two times in my life.
00:10:45.30\00:10:47.06
JB: So you can pay it off
in half the time without paying
00:10:47.06\00:10:48.90
out twice as much money.
00:10:48.90\00:10:49.96
ER: Oh yes.
00:10:49.96\00:10:50.90
That's incredible.
00:10:50.90\00:10:51.86
It's amazing, really.
00:10:51.86\00:10:52.80
You save thousands,
literally thousands.
00:10:52.80\00:10:55.66
JB: Okay, someone is
writing a note furiously to
00:10:55.66\00:10:58.23
themselves.
00:10:58.23\00:10:58.93
They are trying to
remember what you said.
00:10:58.93\00:11:00.56
Let's make it easy for people.
00:11:00.56\00:11:01.96
If someone wants to review
this, that information you
00:11:01.96\00:11:04.06
gave, how can they find
that information real quick?
00:11:04.06\00:11:06.63
ER: Well you can just look
at an amortization schedule.
00:11:06.63\00:11:09.16
You can find the amortization
schedule for your loan
00:11:09.16\00:11:12.06
on-line, for example,
print it off and then you can
00:11:12.06\00:11:14.63
easily see what I've just said.
00:11:14.63\00:11:15.93
JB: Are banks happy when
people choose to do this?
00:11:15.93\00:11:17.43
ER: I don't think so.
00:11:17.43\00:11:18.26
JB: But that's not
really the point here, is it?
00:11:18.26\00:11:19.76
ER: No.
00:11:19.76\00:11:20.56
As long as there is no
prepayment penalty and most
00:11:20.56\00:11:22.16
loans today don't have
one and you can do that very
00:11:22.16\00:11:24.40
easily.
00:11:24.40\00:11:25.33
JB: Okay, talking about
getting out of debt, because
00:11:25.33\00:11:28.13
I don't think that it
would be wise to be carrying a
00:11:28.13\00:11:29.53
whole bunch of debt into
troublesome times that are
00:11:29.53\00:11:31.23
coming.
00:11:31.23\00:11:31.96
ER: Yes.
00:11:31.96\00:11:32.93
JB: How is a person
supposed to get out of debt ...
00:11:32.93\00:11:34.56
if, say they are
wanting to buy a house.
00:11:34.56\00:11:37.16
Like you said, not everybody
can go and pay cash for a
00:11:37.16\00:11:38.83
house.
00:11:38.83\00:11:40.16
You pretty well have got to
borrow money to buy a house.
00:11:40.16\00:11:43.00
What is the right approach?
00:11:43.00\00:11:43.73
ER: I would
suggest a couple of things.
00:11:43.73\00:11:46.43
One of them is to make sure
you put 20% down so you don't
00:11:46.43\00:11:48.43
have private
mortgage insurance to pay.
00:11:48.43\00:11:51.73
That is something that
just guarantees your loan to the
00:11:51.73\00:11:53.43
bank.
00:11:53.43\00:11:54.13
It does not
benefit you in any way.
00:11:54.13\00:11:55.66
So have a 20%
down payment minimum.
00:11:55.66\00:11:58.43
In addition to that, every
time you prepay a payment, it
00:11:58.43\00:12:02.80
builds your own net worth.
00:12:02.80\00:12:04.16
If the economy were to turn
really bad, most people that
00:12:04.16\00:12:07.00
don't prepay are upside
down on their mortgage, which
00:12:07.00\00:12:09.63
means they owe more
on it than it's worth.
00:12:09.63\00:12:11.70
But if you have prepaid,
that should not be a bother to
00:12:11.70\00:12:13.30
you.
00:12:13.30\00:12:14.06
So, it's better to
do that in my opinion.
00:12:14.06\00:12:18.50
And I will just tell you that
right now, today, aside from
00:12:18.50\00:12:20.90
end-times, we are having
10 thousand Americans retire
00:12:20.90\00:12:25.00
every day of the week,
starting this year, and this
00:12:25.00\00:12:28.70
will last for 10 years in a row.
00:12:28.70\00:12:31.60
This is the baby
boomer generation.
00:12:31.60\00:12:33.23
And people know they are
ready to retire when they
00:12:33.23\00:12:35.33
have their debts paid
off, including their home
00:12:35.33\00:12:37.53
mortgage, when they have a
reasonable income stream, and
00:12:37.53\00:12:40.10
they have health insurance.
00:12:40.10\00:12:41.96
So, just to prepare for
end times would be the same
00:12:41.96\00:12:44.30
thing, in my opinion.
00:12:44.30\00:12:46.63
Try to be debt-free so
that no matter what comes in the
00:12:46.63\00:12:48.86
future, it does not
adversely affect you.
00:12:48.86\00:12:50.96
JB: Okay.
00:12:50.96\00:12:52.56
Give me some more.
00:12:52.56\00:12:53.83
What are the
principles of money management?
00:12:53.83\00:12:55.80
Why is financial
planning stewardship?
00:12:55.80\00:12:57.80
Should people be entertaining
when they are thinking Jesus
00:12:57.80\00:13:00.26
is coming back soon?
00:13:00.26\00:13:01.26
Because I've heard people
say "The Lord is coming back and
00:13:01.26\00:13:03.46
it doesn't matter.
00:13:03.46\00:13:04.30
Let's rack up debt.
00:13:04.30\00:13:05.33
Let's do - just go nuts
because the Lord is coming
00:13:05.33\00:13:08.20
back and we don't
have to worry about it.
00:13:08.20\00:13:10.26
That's irresponsible.
00:13:10.26\00:13:10.90
ER: I've heard that as well.
00:13:10.90\00:13:11.73
But I really believe that
the Bible says in Psalms 37:21
00:13:11.73\00:13:15.46
"The wicked
borrow and do not repay."
00:13:15.46\00:13:18.06
It is not a Christian
perspective to rack up debts
00:13:18.06\00:13:20.10
and walk off from them.
00:13:20.10\00:13:21.80
In addition to that,
before God's people are taken to
00:13:21.80\00:13:24.26
heaven, we are going to
have a time of trouble such as
00:13:24.26\00:13:26.90
never was since there was
a nation and the people that
00:13:26.90\00:13:29.23
are in debt are going to
have the worse time of it.
00:13:29.23\00:13:30.76
Essentially, losing everything.
00:13:30.76\00:13:32.46
So I think we need to have
a focus away from this earth
00:13:32.46\00:13:34.33
and toward our Kingdom.
00:13:34.33\00:13:36.43
I would suggest very
sincerely that the more we
00:13:36.43\00:13:40.56
can we should support
ministries like It Is Written
00:13:40.56\00:13:42.73
and others with any available
cash, it's not going to be
00:13:42.73\00:13:45.80
good in sometime in the
future and all the stuff we
00:13:45.80\00:13:47.96
have is going to
get burned up some day.
00:13:47.96\00:13:50.43
JB: It's true, isn't it?
00:13:50.43\00:13:51.80
Now we have an opportunity
to do something with our funds
00:13:51.80\00:13:54.46
that one day we are simply
not going to be able to use.
00:13:54.46\00:13:56.20
ER: Yes.
00:13:56.20\00:13:57.20
Think of all the money
that was lost in the downturn in
00:13:57.20\00:13:59.06
the economic
markets from 2008 and 2009.
00:13:59.06\00:14:02.46
If that money alone that
people lost had been put into
00:14:02.46\00:14:04.43
ministries, we would have
more money than we knew what
00:14:04.43\00:14:06.60
to do with.
00:14:06.60\00:14:07.43
We are talking millions,
even billions of dollars lost in
00:14:07.43\00:14:10.03
the portfolios
of many Americans.
00:14:10.03\00:14:11.96
JB: Okay.
00:14:11.96\00:14:13.63
Financial stewardship.
00:14:13.63\00:14:14.43
Looking toward to
the return of Jesus.
00:14:14.43\00:14:16.86
Take us a step
further with this.
00:14:16.86\00:14:18.40
ER: Right now we have
very high unemployment.
00:14:18.40\00:14:22.13
We need to be employed so
that we can help support our
00:14:22.13\00:14:25.23
families and do the work of God.
00:14:25.23\00:14:27.43
So I would suggest do
all you can to stay employed.
00:14:27.43\00:14:30.86
In other words,
be a diligent worker.
00:14:30.86\00:14:33.50
And it's interesting.
00:14:33.50\00:14:35.56
Proverbs 22 talks about "Show
me a man who is diligent in
00:14:35.56\00:14:39.63
his work and he will stand
before kings, not mere men."
00:14:39.63\00:14:42.26
Be the best employee that
you can be - that's important.
00:14:42.26\00:14:45.20
And if you don't have a job,
I would suggest that you take
00:14:45.20\00:14:48.63
any job that you can
that does not violate your
00:14:48.63\00:14:51.00
conscience.
00:14:51.00\00:14:51.96
You would not want to be
a "go-go dancer" or a bar
00:14:51.96\00:14:53.66
tender or something, but most
any job would be of value to
00:14:53.66\00:14:56.96
you if you didn't have a job.
00:14:56.96\00:14:58.70
JB:It is important, isn't it,
that people put themselves in
00:14:58.70\00:15:01.03
a position - and I say
this kindly because I know some
00:15:01.03\00:15:03.83
people are out of work and
would do anything they could
00:15:03.83\00:15:05.76
to change that.
00:15:05.76\00:15:07.50
It's important to make
yourself as employable as
00:15:07.50\00:15:09.53
possible.
00:15:09.53\00:15:10.20
ER: Oh yes.
00:15:10.20\00:15:12.10
JB: What are some
simple things, just very simple
00:15:12.10\00:15:13.73
things somebody can do to
enhance their employability?
00:15:13.73\00:15:16.03
ER: Well, you can find
out, for example, what kind of
00:15:16.03\00:15:17.93
jobs are available.
00:15:17.93\00:15:18.83
For example, health care
in the economy right now.
00:15:18.83\00:15:21.60
For example, go to a
hospital parking lot and you can
00:15:21.60\00:15:24.23
hardly find a place to park.
00:15:24.23\00:15:25.20
Very few healthcare
workers have lost their jobs.
00:15:25.20\00:15:27.46
There is not very much
unemployment in that area.
00:15:27.46\00:15:29.96
Train yourself for
some level of health care.
00:15:29.96\00:15:32.13
You know, nursing, inhalation
therapy, whatever it might
00:15:32.13\00:15:35.26
be, lab tech, whatever.
00:15:35.26\00:15:36.30
Those are things
that are important.
00:15:36.30\00:15:37.70
Computers are still important.
00:15:37.70\00:15:39.23
Everybody gets their stuff
on their cell phones and their
00:15:39.23\00:15:40.83
computers and so on.
00:15:40.83\00:15:41.70
Computer guys are staying
busy and they are making good
00:15:41.70\00:15:44.33
incomes, much more than
preachers, as you may know.
00:15:44.33\00:15:47.36
JB: Yeah, yeah.
00:15:47.36\00:15:48.56
Moving right along,
what other advice can we give
00:15:48.56\00:15:51.53
people that are thinking
about the end of time and
00:15:51.53\00:15:53.80
wondering what to do, how to
manage their finances wisely.
00:15:53.80\00:15:55.30
ER: I would say,
live within your means.
00:15:55.30\00:15:59.53
Make a budget.
00:15:59.53\00:16:00.60
This is kind of like going
on a diet and most people don't'
00:16:00.60\00:16:02.33
want to do that.
00:16:02.33\00:16:03.50
Make a simple budget.
00:16:03.50\00:16:04.40
Here's what my income is.
00:16:04.40\00:16:05.46
Here's what my
expenses are each month.
00:16:05.46\00:16:07.46
Live within your means.
00:16:07.46\00:16:08.60
Let me give you a
simple illustration.
00:16:08.60\00:16:10.56
Because of the bombardment
of advertising today, most
00:16:10.56\00:16:14.23
people think they need more
stuff but most of us can get
00:16:14.23\00:16:17.00
along just fine with
the stuff we already have.
00:16:17.00\00:16:18.96
In fact, I ask people,
how many of you think you have
00:16:18.96\00:16:21.36
stuff you will never
use as long as you live?
00:16:21.36\00:16:23.10
And most people
raise their hands.
00:16:23.10\00:16:24.70
Have a yard sale.
00:16:24.70\00:16:25.60
Sell off stuff.
00:16:25.60\00:16:26.30
Put that money on
your debts and so on.
00:16:26.30\00:16:28.20
But if you don't think
that you can live within your
00:16:28.20\00:16:30.00
means or too poor to save,
visit a third world country
00:16:30.00\00:16:33.96
like Haiti or Central India,
or some of those places, and
00:16:33.96\00:16:37.76
you will realize
that you are very rich.
00:16:37.76\00:16:40.43
If you have a car, in any
condition, you are in the top
00:16:40.43\00:16:43.23
5% of people in the whole world.
00:16:43.23\00:16:46.16
So, let's just learn to live
within our means and that is
00:16:46.16\00:16:48.00
going to be a very
helpful thing near the end-time.
00:16:48.00\00:16:49.90
You can't afford to
get further in debt.
00:16:49.90\00:16:52.00
This is kind of a tail
onto the one of getting out of
00:16:52.00\00:16:53.90
debt, but certainly
don't go further in debt.
00:16:53.90\00:16:56.40
JB: A simple idea.
00:16:56.40\00:16:57.66
Live within your means.
00:16:57.66\00:16:58.66
Yet, so many people find
it very, very difficult to do
00:16:58.66\00:17:01.20
that.
00:17:01.20\00:17:02.33
We are talking today
about financial management,
00:17:02.33\00:17:04.86
stewardship, money
management, keeping in mind
00:17:04.86\00:17:08.56
that Jesus is coming back soon.
00:17:08.56\00:17:10.86
I'll have more with
Ed Reid in just a moment.
00:17:10.86\00:17:13.36
There's a rising sense
of anxiety in our world and
00:17:13.36\00:17:17.56
people are
wondering where we are headed.
00:17:17.56\00:17:20.23
If you're looking for
answers, you won't want to
00:17:20.23\00:17:22.23
miss Revelation Today, a
dynamic satellite event with
00:17:22.23\00:17:25.26
John Bradshaw,
beginning January 20, 2012.
00:17:25.26\00:17:28.23
Discover what the future
holds and learn to understand
00:17:28.23\00:17:30.86
Bible prophecy.
00:17:30.86\00:17:32.73
Revelation Today will
be broadcast live from Las
00:17:32.73\00:17:35.06
Vegas.
00:17:35.06\00:17:36.00
Plan now to attend this
powerful event via television
00:17:36.00\00:17:37.96
or watch it online.
00:17:37.96\00:17:39.86
For more information visit:
itiswritten.com JB: Thanks
00:17:39.86\00:17:45.06
for joining me
today on It Is Written.
00:17:45.06\00:17:46.83
My guest today is Ed Reid,
an accomplished speaker and
00:17:46.83\00:17:50.03
author and - you may not
want me using this word, Ed, but
00:17:50.03\00:17:53.43
an "expert" in the fields
of financial management and
00:17:53.43\00:17:56.33
Bible prophecy.
00:17:56.33\00:17:57.80
We are talking today about
how believers in Jesus should
00:17:57.80\00:18:00.50
approach finances keeping
in mind that Jesus is returning
00:18:00.50\00:18:04.70
- we believe - soon!
00:18:04.70\00:18:06.20
Now, the last thing we spoke
about you know, really, this
00:18:06.20\00:18:09.20
is the sort of thing we
can talk about all day, how
00:18:09.20\00:18:11.90
important it is for a person
to live within their means
00:18:11.90\00:18:14.10
ER: Yes.
00:18:14.10\00:18:15.13
JB: If you have
$10 don't spend $11.
00:18:15.13\00:18:17.50
Which means that if I have
an income of X and I want to buy
00:18:17.50\00:18:21.03
an automobile that really
belongs to someone who has an
00:18:21.03\00:18:26.06
income of Y or X times 3,
I might want to scale back my
00:18:26.06\00:18:30.36
expectations a
little bit, right?
00:18:30.36\00:18:32.23
ER: I think so.
00:18:32.23\00:18:33.03
Yes.
00:18:33.03\00:18:34.40
And let me just suggest
also that it is a good idea to
00:18:34.40\00:18:36.46
have a little savings, even
if you have a smaller income
00:18:36.46\00:18:39.63
than you would like, I would
suggest saving something out
00:18:39.63\00:18:42.13
of every paycheck and
this not for retirement.
00:18:42.13\00:18:44.23
What I am talking about
here is doing something for
00:18:44.23\00:18:47.03
emergency's sake.' JB: Okay.
00:18:47.03\00:18:48.33
Now someone, she is sitting
here watching our program.
00:18:48.33\00:18:50.80
She is at home raising her
two and a half kids, and dad
00:18:50.80\00:18:54.63
has a job, it's not a high
paying job and she's saying
00:18:54.63\00:18:58.66
"this guy is saying save?
00:18:58.66\00:18:59.93
I can't even get the
groceries paid for each
00:18:59.93\00:19:02.06
week".
00:19:02.06\00:19:03.06
ER: I would budget
savings just like groceries or
00:19:03.06\00:19:05.50
utilities.
00:19:05.50\00:19:06.76
It could be a small amount,
like $50 every paycheck or
00:19:06.76\00:19:08.90
something.
00:19:08.90\00:19:10.03
But when you can build that
up, many financial counselors
00:19:10.03\00:19:13.20
suggest having at least a
$1,000 for emergency and try
00:19:13.20\00:19:16.36
to have ..
00:19:16.36\00:19:18.50
the general savings is three
to six months equivalent of
00:19:18.50\00:19:20.93
living expenses in an
emergency savings fund that
00:19:20.93\00:19:24.40
you can draw upon should
you have transmission problems
00:19:24.40\00:19:27.36
with your car, your
refrigerator goes out, you
00:19:27.36\00:19:29.86
have a health emergency that
your insurance doesn't cover.
00:19:29.86\00:19:32.06
JB: This isn't for
a trip to Disneyland?
00:19:32.06\00:19:33.90
ER: No, no, no.
00:19:33.90\00:19:34.73
And the real interesting
thing I would tell you is,
00:19:34.73\00:19:37.86
even eating out is
kind of incredible.
00:19:37.86\00:19:40.63
I would suggest that if
you eat out once a day, it
00:19:40.63\00:19:43.73
doubles your family's
food budget for the month.
00:19:43.73\00:19:46.36
So eating out should be a
special occasion, you know,
00:19:46.36\00:19:49.76
for a special thing,
birthdays, anniversaries,
00:19:49.76\00:19:52.03
that kind of thing.
00:19:52.03\00:19:53.10
And the most amazing thing
to show you that Americans need
00:19:53.10\00:19:55.50
that, go to any well-known
restaurant and you have to
00:19:55.50\00:19:57.76
wait to get in, even though
there is a downturn in the
00:19:57.76\00:20:01.90
economy, people
are still eating out.
00:20:01.90\00:20:03.93
JB: I have wondered.
00:20:03.93\00:20:04.36
I have marveled, as a matter
of fact, many times that the
00:20:04.36\00:20:05.60
economy is apparently
in such bad shape that the
00:20:05.60\00:20:07.06
restaurants are full.
00:20:07.06\00:20:08.16
ER: Yes, isn't that incredible?
00:20:08.16\00:20:09.43
JB: Yes.
00:20:09.43\00:20:10.06
That's not something
you have to do-eat out.
00:20:10.06\00:20:11.73
But it is something you
could, perhaps, you could
00:20:11.73\00:20:13.40
work that another
way, couldn't you?
00:20:13.40\00:20:15.40
ER: Lack of savings is the
biggest reason people go in
00:20:15.40\00:20:18.26
debt.
00:20:18.26\00:20:19.50
They don't intend to go in
debt but something happens to
00:20:19.50\00:20:21.53
their car, or you
know something like that.
00:20:21.53\00:20:24.83
They have to go then and
put it on a credit card and then
00:20:24.83\00:20:27.16
they pay for it two
or three times over.
00:20:27.16\00:20:29.16
JB: Now what about investing?
00:20:29.16\00:20:30.53
I know we gotta be careful here.
00:20:30.53\00:20:32.36
We can't tell people what
to invest in and what not to
00:20:32.36\00:20:34.20
invest in.
00:20:34.20\00:20:35.10
ER: Yes.
00:20:35.10\00:20:36.00
JB: How should a
person approach investing?
00:20:36.00\00:20:38.23
ER: Well this is a very
good question because obviously,
00:20:38.23\00:20:40.33
wise and prudent people don't
spend everything they make.
00:20:40.33\00:20:42.56
As I said before,
live within your income.
00:20:42.56\00:20:45.23
But you would have to
think in terms of the future.
00:20:45.23\00:20:47.40
When you can't work as
gainfully as you used to, or
00:20:47.40\00:20:49.76
should you lose
your job or whatever.
00:20:49.76\00:20:51.93
So I would suggest, first
of all, invest in your own
00:20:51.93\00:20:54.40
debts.
00:20:54.40\00:20:55.16
That's the very best
investment anyone can make.
00:20:55.16\00:20:57.30
Guaranteed return.
00:20:57.30\00:20:58.43
For example, if you have
money in a CD, you might be
00:20:58.43\00:21:02.76
getting 1% or 2% but if
you are paying off your credit
00:21:02.76\00:21:05.90
cards, you're making 10%
or 27% so that's an investment
00:21:05.90\00:21:08.80
that I would recommend.
00:21:08.80\00:21:10.80
But another thing is, in
these unusual times - and by
00:21:10.80\00:21:14.10
the way, your question is
so good that I want to insert
00:21:14.10\00:21:16.76
this - BEWARE of
get rich quick schemes.
00:21:16.76\00:21:19.60
There are hawksters out there
that want to get your money.
00:21:19.60\00:21:22.40
And so I would suggest
that people always counsel with
00:21:22.40\00:21:26.06
someone else before
investing somewhere.
00:21:26.06\00:21:27.96
This great thing comes along
- by the way, most get rich
00:21:27.96\00:21:30.50
quick schemes are introduced
to people by their friends
00:21:30.50\00:21:33.46
who sincerely believe
they are doing their friends a
00:21:33.46\00:21:35.60
favor.
00:21:35.60\00:21:36.60
But you have to
really look at it.
00:21:36.60\00:21:38.36
Something you don't
understand, you have to
00:21:38.36\00:21:40.06
invest quickly, you know
it's gonna promise high returns,
00:21:40.06\00:21:42.10
all of that.
00:21:42.10\00:21:43.70
And I'm just going to
tell you - AVOID those at all
00:21:43.70\00:21:45.90
cost.
00:21:45.90\00:21:47.16
Even if it makes you so
you are not friends with that
00:21:47.16\00:21:50.16
person because you are going
to end up not being friends
00:21:50.16\00:21:52.90
anyway.
00:21:52.90\00:21:54.06
JB: Typically with investing,
isn't it true, if something
00:21:54.06\00:21:55.90
seems too good to
be true, it usually is.
00:21:55.90\00:21:57.73
ER: Oh Yes.
00:21:57.73\00:21:58.56
It almost al ways is.
00:21:58.56\00:21:59.40
And the real interesting
thing about investments, I
00:21:59.40\00:22:01.43
would say, even though
the government is trillions of
00:22:01.43\00:22:04.20
dollars in debt, probably
the safest investments are
00:22:04.20\00:22:08.50
government-backed securities.
00:22:08.50\00:22:09.83
Because the government has
the unique ability to print
00:22:09.83\00:22:11.76
money if they need to.
00:22:11.76\00:22:13.16
But you know, it's
kind of the standard.
00:22:13.16\00:22:15.46
So I would suggest, if you
have to put money away that
00:22:15.46\00:22:18.33
you're not investing in
your debts, put it in a secure
00:22:18.33\00:22:20.16
position.
00:22:20.16\00:22:21.60
Because if you could make
more in the stock market, the
00:22:21.60\00:22:24.03
higher the level of income
offered, the greater risk it
00:22:24.03\00:22:26.60
is.
00:22:26.60\00:22:27.76
That's always true
whether the people telling you
00:22:27.76\00:22:29.36
believe it or not,
whether you believe it or not,
00:22:29.36\00:22:31.36
whether it seems possible even.
00:22:31.36\00:22:33.36
The higher the interest
promised, the greater the
00:22:33.36\00:22:35.46
risk.
00:22:35.46\00:22:37.00
It's always true.
00:22:37.00\00:22:38.06
JB: Now if Jesus is
coming back soon, if the end is
00:22:38.06\00:22:39.83
near, and I don't' say that
- in fact, I don't say that as
00:22:39.83\00:22:41.93
a doom merchant, I
say that full of hope.
00:22:41.93\00:22:44.33
ER: Aren't we all excited?
00:22:44.33\00:22:45.43
JB: How important is it that
a person really keeps an eye
00:22:45.43\00:22:47.93
on the future?
00:22:47.93\00:22:49.16
ER: Well I will
just tell you this.
00:22:49.16\00:22:52.76
Christian Bible believers
have inside information.
00:22:52.76\00:22:54.63
Now in the investing
world, that's not a good idea of
00:22:54.63\00:22:57.00
having, as you know.
00:22:57.00\00:22:58.26
But we have inside
information and it's in 2
00:22:58.26\00:23:00.36
Peter 3:10, that when the
Lord returns, the earth will
00:23:00.36\00:23:04.43
get burned up and all the
works of men and as I tell
00:23:04.43\00:23:07.43
people, that will
reduce its value considerably.
00:23:07.43\00:23:09.56
All the stuff gets burned up.
00:23:09.56\00:23:10.93
So I would say as a
Christian, you know, get rid
00:23:10.93\00:23:13.43
of the stuff
that you don't need.
00:23:13.43\00:23:16.36
A lot of the us have
things we've carried around for
00:23:16.36\00:23:18.16
years that we really don't need.
00:23:18.16\00:23:19.86
Divest yourself of
the stuff you don't need.
00:23:19.86\00:23:22.06
Sell it at yard sales.
00:23:22.06\00:23:23.16
Now here's the real story.
00:23:23.16\00:23:24.23
Christians are going to
work together for the greatest
00:23:24.23\00:23:26.46
event ever and that's to
work together to finish the work
00:23:26.46\00:23:28.86
of God on this earth.
00:23:28.86\00:23:30.00
It is not going to be free.
00:23:30.00\00:23:31.20
God is going to ask us to
utilize stuff he has given
00:23:31.20\00:23:34.03
us.
00:23:34.03\00:23:34.96
Remember, "honor the Lord
with your possessions", your
00:23:34.96\00:23:36.83
stuff and that's the way
we help him do it, helping Him
00:23:36.83\00:23:39.23
to finish the work of God.
00:23:39.23\00:23:40.93
So I think another thing.
00:23:40.93\00:23:42.26
This earth is
not our final home.
00:23:42.26\00:23:45.23
We have dual citizenship as
Christians, citizens here of
00:23:45.23\00:23:47.66
whatever country we are
in and citizenship in heaven
00:23:47.66\00:23:49.96
when we accept Christ.
00:23:49.96\00:23:51.46
So we are moving from one to
the other and we want to move
00:23:51.46\00:23:53.96
our assets from here to
the new earth so that we can be
00:23:53.96\00:23:58.26
blessed and to bless
others at the same time.
00:23:58.26\00:24:01.80
JB: Okay.
00:24:01.80\00:24:02.96
Let's go to the Bible.
00:24:02.96\00:24:04.03
A couple of verses, a
couple of Bible verses that you
00:24:04.03\00:24:06.26
believe are especially
helpful, especially pertinent
00:24:06.26\00:24:08.50
to people as they are wanting
to honor the Lord with what
00:24:08.50\00:24:10.86
they have, keeping in
mind that the time is short.
00:24:10.86\00:24:13.16
ER: Well, I would
think of first John.
00:24:13.16\00:24:15.26
That's a very interesting one.
00:24:15.26\00:24:17.26
Chapter two.
00:24:17.26\00:24:18.23
I believe I have it
marked here in my Bible so I can
00:24:18.23\00:24:20.53
find it quickly and verses
15 to 17 says something similar
00:24:20.53\00:24:24.93
to 2 Peter that
I just mentioned.
00:24:24.93\00:24:27.23
Don't love the world or
the things in the world.
00:24:27.23\00:24:29.76
If you do, the love of the
Father is not in you because
00:24:29.76\00:24:32.53
all that is in the world,
the lust of the eyes and so on,
00:24:32.53\00:24:34.83
is not of the
Father but is of the world.
00:24:34.83\00:24:36.76
And that's just
giving this point.
00:24:36.76\00:24:39.33
The world is passing
away and the lust of it.
00:24:39.33\00:24:42.93
But he that does the
will of God abides forever.
00:24:42.93\00:24:44.76
1 John 2:17.
00:24:44.76\00:24:46.30
So what that says to me is
it's not going to pass away,
00:24:46.30\00:24:49.50
it is in the
process of passing away.
00:24:49.50\00:24:54.03
With all of the natural
disasters and things, the
00:24:54.03\00:24:56.36
world is waxing old like a
garment, is what it says in
00:24:56.36\00:24:59.06
the Bible.
00:24:59.06\00:25:00.13
And we have to understand.
00:25:00.13\00:25:01.53
I believe in ecology.
00:25:01.53\00:25:02.70
I believe in separating
my trash and all that kind of
00:25:02.70\00:25:04.83
stuff.
00:25:04.83\00:25:05.43
But we are not
going to save the planet.
00:25:05.43\00:25:06.86
The Bible is clear that it
is passing away and the lust of
00:25:06.86\00:25:09.86
it but he that does the
will of God abides forever.
00:25:09.86\00:25:12.30
So I would say that as you
read through the Scripture,
00:25:12.30\00:25:13.96
look for the will of God,
put that part in your life.
00:25:13.96\00:25:16.46
JB: How about if we pray
together because a lot of
00:25:16.46\00:25:18.76
people are taking on board
what you have said today and
00:25:18.76\00:25:20.66
they are saying, Lord,
some things have got to change
00:25:20.66\00:25:22.56
around here.
00:25:22.56\00:25:23.36
I've got to get it right
now and it's not going to happen
00:25:23.36\00:25:25.36
unless people are
praying their way through this.
00:25:25.36\00:25:27.40
Let's pray together, shall we?
00:25:27.40\00:25:28.86
ER: Okay.
00:25:28.86\00:25:29.63
JB: Our Father, we thank you
in the name of Jesus that you
00:25:29.63\00:25:31.70
are willing to guide us
in some of the most practical
00:25:31.70\00:25:36.46
and important
areas of our lives.
00:25:36.46\00:25:38.63
There are a few things
more practical than our daily
00:25:38.63\00:25:40.50
finances.
00:25:40.50\00:25:42.13
We are all confronted
with the importance of them and
00:25:42.13\00:25:44.66
sometimes confounded by them.
00:25:44.66\00:25:46.50
As we have talked today, Ed
and I, I pray that you would
00:25:46.50\00:25:48.80
guide us all as we seek to
honor you with our stuff, and
00:25:48.80\00:25:52.70
our possessions and our
finances, as we seek to plan
00:25:52.70\00:25:56.76
prudently with the
return of Jesus so imminent.
00:25:56.76\00:26:01.23
I pray your Holy Spirit
will guide us and keep us.
00:26:01.23\00:26:04.83
Let your will be done.
00:26:04.83\00:26:05.93
Please be first in our
lives and let us face the future
00:26:05.93\00:26:08.96
with confidence, confidence
that comes from knowing we
00:26:08.96\00:26:11.16
are honoring you.
00:26:11.16\00:26:12.36
In Jesus' name we pray, Amen.
00:26:12.36\00:26:13.83
ER: Amen.
00:26:13.83\00:26:30.33
Today we have been
talking about crucial financial
00:26:30.33\00:26:32.80
issues that affect all of us.
00:26:32.80\00:26:34.50
Our goal at It Is Written
is to help you live a more
00:26:34.50\00:26:36.83
satisfying and
God-centered life.
00:26:36.83\00:26:38.66
So this week, our free offer
is a helpful book on finance
00:26:38.66\00:26:41.76
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00:26:41.76\00:26:44.10
It is a practical discussion
on how God has promised to
00:26:44.10\00:26:48.00
provide for the needs of His
faithful servant and includes
00:26:48.00\00:26:51.90
a special section prepared
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00:26:51.90\00:26:54.26
today's program Managing
Finances in Difficult Times.
00:26:54.26\00:26:58.30
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00:27:53.23\00:27:55.96
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00:27:55.96\00:27:59.23
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00:28:03.53\00:28:04.53