It has stood the test of time.
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God4s book, the Bible.
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Still relevant in
today4s complex world
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It Is Written,
sharing hope around the globe.
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Thanks for joining me today.
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If there4s one
subject the Bible speaks about
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more than any other,
what do you think it is?
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Alright. I'll tell you.
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The Bible speaks about money,
about finances more than it does
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about any other single subject,
which ought to suggest to us
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that the subject of finance
and money and money management
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is important and is
important in the sight of God.
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Today I am in Eastern Tennessee
and my guest is Ed Reid,
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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 lot
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of time left for planet earth.
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Why are these the last days?
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ER: Well the Bible
gives two ways for us to know.
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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 in
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abundance today.
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JB: Such as?
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ER: Well, earthquakes, for
example. Matthew, Mark, Luke
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and John, especially
Matthew, Mark and Luke
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talk about the synoptic gospels,
earthquakes in different places
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near the end as an
indication of end-time.
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JB: Okay, now, Devil's advocate.
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There have always been
earthquakes. They had them back
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in Bible times. Why should
we be concerned when another
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earthquake strikes today?
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ER: Five of the largest
earthquakes ever to occur
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on the earth have
happened in the last 50 years,
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over a 6 thousand year history.
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JB: Jesus in Matthew 24 said
these signs would be like birth
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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. Yes.
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JB: Okay. Now if you
think that we are getting
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close to the end of time.
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I believe that.
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I believe that and many,
many people watching today
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are 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 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. How, then,
should people of faith who
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are convinced that Jesus
is returning some time soon,
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and I know that word
soon is a relative word,
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how should people be approaching
their finances keeping in mind
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the end might be near.
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ER: Well I think the first thing
to do is to put God first in
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your life. I could give you a
long time recitation of things
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to do, you know, budgeting,
and all that. But I think
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the Book of Proverbs,
the third chapter, talks
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about honor the Lord with your
possessions and with the first
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part of all your increase
and your barns will be filled
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with plenty and your
vats with new wine 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. Fear the Lord
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and depart from evil"and so on,
so I think putting God first.
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JB: Okay now, let me ask
you a question. Right there in
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Proverbs 3, Honor the Lord with
your substance. What does that
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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. Honor the Lord
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with your stuff. And this
means, well, you mentioned that
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the Bible talks more about money
than about any other subject any
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other single subject and more
than two thousand verses talk
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about it. Somebody asked
me, well, what is your favorite
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one? Well, it's not even a
many one, but Genesis 1:1 saysIn
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the beginning, God created
the heavens and the earth."So if
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God is the Creator, I'm a
creature. If he's the Creator
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He's the Owner, I'm just a
manager. So the way I manage
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God's money is a very, very
important situation. I believe
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that we are saved by faith
alone. The great Protestant
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tradition. But the fact is
we're not saved by our money
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management but we can manage
away from God. Do you get what
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I'm saying by that? We could
move away in our management.
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JB: Certainly.
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ER: Thinking in terms
of selfishness and so on.
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In fact, one of the signs
of the end is in 2 Timothy,
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the third chapter,
where it says in the last days
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perilous times will come
and men will be lovers of
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themselves [they're selfish]
and lovers of money . That's an
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amazing one. And then also,
the 5th chapter of James, in the
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first five verses saysThe rich
will heap up treasures for the
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last days. It's all going to get
burned up. That's the amazing
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thing. But the interesting thing
is they are doing it. Let me
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give you an
illustration of last day stuff.
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JB: Sure.
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ER: If I am a professional
person with advanced degrees
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and I could earn about
a hundred thousand a year,
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in my entire lifetime
and this is amazing of 40
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years of working, I will make
four million dollars. Recently,
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even during the economic
downturn, some of the Wall
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Street bankers got bonuses of
40 million dollars which is 10
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times more than a professional
person will make in his entire
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lifetime of hard work.
Now this is incredible. Do you
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understand? The rich are
saving up for the last days.
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JB: Sure ER: There
could not be a better
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example of that, in my opinion.
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JB: So now, we are honoring
the Lord with our substance,
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with our possessions, our stuff.
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ER: Yes.
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JB: Planning for the last days
of earth's history. Now, I don't
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expect that you are going
to be an extremist on this.
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I don't think you're going to be
a radical on this. How do we go
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about that? What
should we be thinking?
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ER: The very first thing I
am telling people now is people
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say, well, is it time to
get back into the market?
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Should we start investing again?
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And I tell people, if you have
any debts at all, investing in
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your own debt is the best thing
you can do. Guaranteed returns,
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better interest rate that you
can get, even if your money is
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in there. Better than the stock
market where you could lose it
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-- many people have, as you
may know. And the amazing thing
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about it is that people, even
on credit card debt, the average
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year now, 915 billion
dollars a month is not paid off
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on credit cards that are carried
over from month to month.
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Minimum 10% and probably
many of those up to 27%.
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People are praying on those
kinds of balances and not paying
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off those credit cards. So
I would say, after putting God
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first in your life, which is
managing from God's perspective,
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and that would include the tithe
and so on, but then the very
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best thing you can practical
management do your very best
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to get out of debt.
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JB: Okay.
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You mentioned credit card debt.
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What other debts
are people carrying?
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ER: Well, I'll just give
you, for example, automobiles.
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Almost everybody who is
making time payments on a car
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actually owes more on it than
it's worth. So I'm suggesting,
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and I practice this myself,
to drive your car at least
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10 years and then you get
twice its value out of it.
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Take care of it. Manage it.
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You know, instead of
having to have a new one.
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Many new cars are sold on looks,
as you know, somebody on TV
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you see them driving down
the neighborhood and somebody
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runs up to the porch to see
somebody's new car. It doesn't
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tell you what kind of mileage
it gets, how long it will last,
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or anything. It's just
well, we need a new car.
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The bottom line is take
care of your car and drive it
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a long time then you're not
upside down on the mortgage.
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JB: Now, now you're suggesting
now, you're suggesting I want
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that new car, man You're
suggesting how I might be
00:07:07.63\00:07:12.90
ordering my priorities and and
and yeah, I might want that. I
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really want that new car, Ed.
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ER: You told me not to be
radical but I am going to be
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radical in one thing. In an
ideal world, people would pay
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cash for their cars. So, once
you get your car paid off if you
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save up the equivalent of a car
payment until you have enough to
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pay cash by the way, if you
pay cash, you are really going
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to think twice about do I
really want to spend $30,000 of
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my money on this car?
Do you see what I'm saying?
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JB: Yeah.
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Whereas if you're putting down
a down payment and paying it off
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over 10 years, it doesn't seem
quite so painful and the actual
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fact is it's way more payments.
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ER: Yes, it's actually 50%
more by doing that over time.
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JB: Okay. We looked at a
couple of things right now.
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One of them getting out of debt.
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Looking after yourself
by paying down your debt
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and being free from debt.
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We talked about cars.
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I'm sure we are going to talk
about more things in a moment.
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Money management, stewardship
as the approach of Jesus
00:08:02.40\00:08:06.63
is near.
00:08:06.63\00:08:08.16
Thanks for joining me today.
00:08:08.16\00:08:09.30
Don't go away. I'll be back
in just a moment. In Matthew 4:4
00:08:09.30\00:08:14.93
the Word of God says It is
00:08:14.93\00:08:16.93
"Every Word is a one
minute Bible-based daily
00:08:22.30\00:08:26.03
devotional presented by Pastor
John Bradshaw and designed
00:08:26.03\00:08:29.50
especially for busy people
like you. Look for Every Word on
00:08:29.50\00:08:33.53
selected networks or watch it
on-line everyday on our website
00:08:33.53\00:08:38.13
itiswritten.com. Receive a daily
spiritual boost. Watch Every
00:08:38.13\00:08:41.33
Word. You'll be glad you did.
00:08:41.33\00:08:44.33
Thanks for being with me today.
00:08:47.70\00:08:48.73
I am joined today by Ed Reid who
has literally written the book
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on money management and on
Bible prophecy. And today we are
00:08:52.70\00:08:56.20
looking at how a person should
plan financially keeping in mind
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that Jesus' return is near.
00:09:00.50\00:09:02.13
JB:A moment ago, Ed,
we were talking about how
00:09:02.13\00:09:05.66
important it is that a person
should want to get out of debt.
00:09:05.66\00:09:09.13
We looked at some of those
debts might be. You mentioned
00:09:09.13\00:09:12.26
clearing car payments.
00:09:12.26\00:09:12.96
ER: Credit cards.
00:09:12.96\00:09:13.73
JB: What are some other
and credit cards, thanks.
00:09:13.73\00:09:17.20
What are some other areas
that people typically carry debt
00:09:17.20\00:09:19.23
on that they might and
perhaps even relatively easily,
00:09:19.23\00:09:21.96
clear those debts
and get out of debt?
00:09:21.96\00:09:23.96
ER: Well, a lot of
people don't think about this
00:09:23.96\00:09:26.26
but I actually encourage people
to prepay the principal on their
00:09:26.26\00:09:29.33
home mortgage. Houses cost
so much today because there
00:09:29.33\00:09:32.80
is credit available so we almost
always have to get a loan. Very
00:09:32.80\00:09:36.00
few people have the cash to do
it so I encourage people to get
00:09:36.00\00:09:41.60
an amortization schedule and
prepay principle, like when you
00:09:41.60\00:09:44.70
make a regular payment make
another payment's principal, if
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you can, each month if you can,
and pay your house off in half
00:09:48.76\00:09:50.23
the time.
00:09:50.23\00:09:51.06
JB: Okay. Explain
that a little more slowly.
00:09:51.06\00:09:52.73
ER: Alright. If you have
an amortization schedule,
00:09:52.73\00:09:54.20
it has like 5 columns in it
and one of them is the number
00:09:54.20\00:09:56.73
of the payment like
1-360, and then it's how much
00:09:56.73\00:10:00.70
the payment itself is,
how much goes to the bank
00:10:00.70\00:10:04.73
for interest, how much of
that is principle and what your
00:10:04.73\00:10:07.63
balance is. And every time you
make one regular payment, which
00:10:07.63\00:10:10.63
you have to do every month,
add next month's principal
00:10:10.63\00:10:13.60
payment, which is a much smaller
sum (for some people it will be
00:10:13.60\00:10:15.60
like $150).
00:10:15.60\00:10:17.06
When you do that, you've paid
two payments in one and the next
00:10:17.06\00:10:21.43
time the third payment.
00:10:21.43\00:10:21.93
So you can pay it
off in half the time.
00:10:21.93\00:10:23.83
That's incredible. I've
done that two times in my life.
00:10:23.83\00:10:28.53
JB: So you can pay it off in
half the time without paying out
00:10:28.53\00:10:29.86
twice as much money.
00:10:29.86\00:10:30.76
ER: Oh yes. That's incredible.
00:10:30.76\00:10:32.46
It's amazing, really.
00:10:32.46\00:10:33.83
You save thousands,
literally thousands.
00:10:33.83\00:10:36.43
JB: Okay, someone is writing
a note furiously to themselves.
00:10:36.43\00:10:39.56
They are trying to
remember what you said.
00:10:39.56\00:10:41.60
Let's make it easy for people.
00:10:41.60\00:10:42.83
If someone wants to review
this, that information you gave,
00:10:42.83\00:10:45.23
how can they find that
information real quick?
00:10:45.23\00:10:47.90
ER: Well you can just look
at an amortization schedule.
00:10:47.90\00:10:50.03
You can find the amortization
schedule for your loan on-line,
00:10:50.03\00:10:51.93
for example, print it off
and then you can easily see
00:10:51.93\00:10:54.96
what I've just said.
00:10:54.96\00:10:57.06
JB: Are banks happy when
people choose to do this?
00:10:57.06\00:10:59.00
ER: I don't think so.
00:10:59.00\00:10:59.46
JB: But that's not
really the point here, is it?
00:10:59.46\00:11:00.83
ER: No. As long as there is
no prepayment penalty and most
00:11:00.83\00:11:02.70
loans today don't have one
and you can do that very easily.
00:11:02.70\00:11:05.33
JB: Okay, talking about
getting out of debt, because
00:11:05.33\00:11:07.66
I don't think that it would
be wise to be carrying a whole
00:11:07.66\00:11:09.36
bunch of debt into troublesome
times that are coming.
00:11:09.36\00:11:12.40
ER: Yes.
00:11:12.40\00:11:13.10
JB: How is a person supposed
to get out of debt if, say they
00:11:13.10\00:11:15.40
are wanting to buy a house. Like
you said, not everybody can go
00:11:15.40\00:11:17.83
and pay cash for a house. You
pretty well have got to borrow
00:11:17.83\00:11:22.90
money to buy a house.
What is the right approach?
00:11:22.90\00:11:25.03
ER: I would suggest a
couple of things. One of them is
00:11:25.03\00:11:27.20
to make sure you put 20%
down so you don't have private
00:11:27.20\00:11:29.53
mortgage insurance to pay.
00:11:29.53\00:11:30.33
That is something that
just guarantees your loan
00:11:30.33\00:11:33.10
to the bank.
00:11:33.10\00:11:34.23
It does not benefit you in
any way. So have a 20% down
00:11:34.23\00:11:36.90
payment minimum. In addition
to that, every time you prepay
00:11:36.90\00:11:38.06
a payment, it
builds your own net worth.
00:11:38.06\00:11:44.50
If the economy were to
turn really bad, most people
00:11:44.50\00:11:47.90
that don't prepay are
upside down on their mortgage,
00:11:47.90\00:11:50.60
which means they owe
more on it than it's worth.
00:11:50.60\00:11:52.40
But if you have prepaid,
that should not be a bother
00:11:52.40\00:11:54.16
to you. So, it's better
to do that in my opinion.
00:11:54.16\00:11:56.66
And I will just tell you that
right now, today, aside from
00:11:56.66\00:12:02.20
end-times, we are having 10
thousand Americans retire every
00:12:02.20\00:12:07.56
day of the week, starting this
year, and this will last for 10
00:12:07.56\00:12:10.43
years in a row. This is the baby
boomer generation. And people
00:12:10.43\00:12:14.43
know they are ready to retire
when they have their debts paid
00:12:14.43\00:12:17.80
off, including their
home mortgage, when they have
00:12:17.80\00:12:20.36
a reasonable income stream,
and they have health insurance.
00:12:20.36\00:12:21.56
So, just to prepare for
end times would be the same
00:12:21.56\00:12:25.56
thing, in my opinion.
00:12:25.56\00:12:27.06
Try to be debt-free so
that no matter what comes in the
00:12:27.06\00:12:29.76
future, it does not
adversely affect you.
00:12:29.76\00:12:32.03
JB: Okay. Give me some more.
00:12:32.03\00:12:34.80
What are the
principles of money management?
00:12:34.80\00:12:36.96
Why is financial planning
stewardship? Should people be
00:12:36.96\00:12:39.06
entertaining when they are
thinking Jesus is coming back
00:12:39.06\00:12:41.73
soon? Because I've heard people
sayThe Lord is coming back
00:12:41.73\00:12:44.43
and it doesn't matter.
00:12:44.43\00:12:45.10
Let's rack up debt.
00:12:45.10\00:12:46.40
Let's do just go nuts
because the Lord is coming back
00:12:46.40\00:12:49.46
and we don't have to worry
about it. That's irresponsible.
00:12:49.46\00:12:51.66
ER: I've heard that as well.
00:12:51.66\00:12:52.93
But I really believe
that the Bible says in
00:12:52.93\00:12:54.70
Psalms 37:21 The wicked borrow
and do not repay." It is not
00:12:54.70\00:12:59.46
a Christian perspective to
rack up debts and walk off from
00:12:59.46\00:13:01.36
them. In addition to that,
before God's people are taken to
00:13:01.36\00:13:05.33
heaven, we are going to have
a time of trouble such as never
00:13:05.33\00:13:08.06
was since there was a nation and
the people that are in debt are
00:13:08.06\00:13:11.83
going to have the worse
time of it. Essentially, losing
00:13:11.83\00:13:13.73
everything. So I think we need
to have a focus away from this
00:13:13.73\00:13:15.53
earth and toward our Kingdom.
00:13:15.53\00:13:16.26
I would suggest very sincerely
that the more we can we should
00:13:16.26\00:13:19.53
support ministries like It
Is Written and others with any
00:13:19.53\00:13:24.26
available cash, it's not going
to be good in sometime in the
00:13:24.26\00:13:27.96
future and all the stuff we
have is going to get burned up
00:13:27.96\00:13:31.66
some day.
00:13:31.66\00:13:32.06
JB: It's true, isn't it?
00:13:32.06\00:13:33.43
Now we have an opportunity to
do something with our funds that
00:13:33.43\00:13:35.46
one day we are simply
not going to be able to use.
00:13:35.46\00:13:37.16
ER: Yes. Think of all the money
that was lost in the downturn
00:13:37.16\00:13:39.40
in the economic
markets from 2008 and 2009.
00:13:39.40\00:13:42.53
If that money alone that
people lost had been put into
00:13:42.53\00:13:45.86
ministries, we would have more
money than we knew what to do
00:13:45.86\00:13:48.53
with. We are talking millions,
even billions of dollars lost in
00:13:48.53\00:13:51.00
the portfolios
of many Americans.
00:13:51.00\00:13:53.33
JB: Okay. Financial stewardship.
00:13:53.33\00:13:55.26
Looking toward to the
return of Jesus. Take us a step
00:13:55.26\00:13:58.00
further with this.
00:13:58.00\00:13:58.90
ER: Right now we have very
high unemployment. We need to be
00:13:58.90\00:14:03.76
employed so that we can help
support our families and do the
00:14:03.76\00:14:07.56
work of God. So I would suggest
do all you can to stay employed.
00:14:07.56\00:14:12.90
In other words, be a diligent
worker. And it's interesting.
00:14:12.90\00:14:17.36
Proverbs 22 talks about Show
me a man who is diligent in his
00:14:17.36\00:14:20.96
work and he will stand before
kings, not mere men."Be the
00:14:20.96\00:14:23.40
best employee that you can
be that's important. And if you
00:14:23.40\00:14:27.13
don't have a job, I would
suggest that you take any job
00:14:27.13\00:14:31.60
that you can that does
not violate your conscience.
00:14:31.60\00:14:33.76
You would not want to be a
go-go dancer or a bar tender or
00:14:33.76\00:14:35.76
something, but most any
job would be of value to you
00:14:35.76\00:14:39.03
if you didn't have a job.
00:14:39.03\00:14:40.33
JB:It is important, isn't
it, that people put themselves
00:14:40.33\00:14:42.43
in a position and I say
this kindly because I know
00:14:42.43\00:14:44.86
some people are out of work
and would do anything they could
00:14:44.86\00:14:47.70
to change that. It's important
to make yourself as employable
00:14:47.70\00:14:50.30
as possible.
00:14:50.30\00:14:50.90
ER: Oh yes.
00:14:50.90\00:14:52.50
JB: What are some simple things,
just very simple things somebody
00:14:52.50\00:14:54.40
can do to enhance
their employability?
00:14:54.40\00:14:56.73
ER: Well, you can find out,
for example, what kind of jobs
00:14:56.73\00:14:58.93
are available.
00:14:58.93\00:14:59.53
For example, health care
in the economy right now.
00:14:59.53\00:15:02.70
For example, go to a hospital
parking lot and you can hardly
00:15:02.70\00:15:05.53
find a place to park.
00:15:05.53\00:15:07.10
Very few healthcare
workers have lost their jobs.
00:15:07.10\00:15:09.13
There is not very much
unemployment in that area. Train
00:15:09.13\00:15:12.10
yourself for some level of
health care. You know, nursing,
00:15:12.10\00:15:14.23
inhalation therapy, whatever
it might be, lab tech, whatever.
00:15:14.23\00:15:16.73
Those are things that are
important. Computers are still
00:15:16.73\00:15:20.03
important. Everybody gets
their stuff on their cell phones
00:15:20.03\00:15:22.53
and their computers and so on.
00:15:22.53\00:15:24.30
Computer guys are staying
busy and they are making good
00:15:24.30\00:15:26.56
incomes, much more than
preachers, as you may know.
00:15:26.56\00:15:28.73
JB: Yeah, yeah.
00:15:28.73\00:15:29.10
Moving right along, what
other advice can we give people
00:15:29.10\00:15:33.33
that are thinking about the
end of time and wondering what
00:15:33.33\00:15:35.63
to do, how to manage
their finances wisely.
00:15:35.63\00:15:37.30
ER: I would say,
live within your means.
00:15:37.30\00:15:40.63
Make a budget. This is kind
of like going on a diet and most
00:15:40.63\00:15:43.63
people don't' want to do that.
00:15:43.63\00:15:44.60
Make a simple budget. Here's
what my income is. Here's what
00:15:44.60\00:15:46.96
my expenses are each month. Live
within your means. Let me give
00:15:46.96\00:15:50.10
you a simple illustration.
00:15:50.10\00:15:51.66
Because of the bombardment of
advertising today, most people
00:15:51.66\00:15:55.66
think they need more stuff but
most of us can get along just
00:15:55.66\00:15:58.60
fine with the stuff we already
have. In fact, I ask people, how
00:15:58.60\00:16:01.53
many of you think you have stuff
you will never use as long as
00:16:01.53\00:16:04.20
you live? And most people raise
their hands. Have a yard sale.
00:16:04.20\00:16:06.73
Sell off stuff. Put that money
on your debts and so on. But if
00:16:06.73\00:16:09.60
you don't think that you can
live within your means or too
00:16:09.60\00:16:12.13
poor to save, visit a third
world country like Haiti or
00:16:12.13\00:16:15.00
Central India, or some of those
places, and you will realize
00:16:15.00\00:16:19.60
that you are very rich. If you
have a car, in any condition,
00:16:19.60\00:16:24.40
you are in the top 5% of people
in the whole world. So, let's
00:16:24.40\00:16:27.76
just learn to live within our
means and that is going to be a
00:16:27.76\00:16:29.80
very helpful thing near the
end-time. You can't afford to
00:16:29.80\00:16:32.60
get further in debt. This is
kind of a tail onto the one of
00:16:32.60\00:16:35.10
getting out of debt, but
certainly don't go further
00:16:35.10\00:16:38.03
in debt.
00:16:38.03\00:16:38.66
JB: A simple idea. Live
within your means. Yet, so many
00:16:38.66\00:16:40.96
people find it very, very
difficult to do that. We are
00:16:40.96\00:16:44.40
talking today about financial
management, stewardship, money
00:16:44.40\00:16:47.20
management, keeping in mind that
Jesus is coming back soon. I'll
00:16:47.20\00:16:51.03
have more with Ed
Reid in just a moment.
00:16:51.03\00:16:55.36
It is writen is dedicated to
sharing the gospel around the
00:16:55.36\00:16:57.83
world.
00:16:57.83\00:16:59.73
Our dream is to
impact the world for God.
00:16:59.73\00:17:02.23
Our Television program is
only one aspect of how we try to
00:17:02.23\00:17:04.73
accomplish that. To discover
more about it is Written, I
00:17:04.73\00:17:08.13
invited you to visit
our website itiswritten.com
00:17:08.13\00:17:10.56
and browse the dozens of pages
that describe what we do and how
00:17:10.56\00:17:14.46
we do it.
00:17:14.46\00:17:16.50
You will also find an archive of
past programs in script form and
00:17:16.50\00:17:19.10
as streaming video an audio
files along with many other
00:17:19.10\00:17:23.10
helpful inspirational resources.
00:17:23.10\00:17:26.66
Let's get to know
each other better.
00:17:26.66\00:17:28.33
Visit our website
itiswritten.com today.
00:17:28.33\00:17:32.23
JB: Thanks for
joining me today on It Is
00:17:34.86\00:17:36.36
Written. My guest today is
Ed Reid, an accomplished speaker
00:17:36.36\00:17:40.10
and author and you may not
want me using this word, Ed,
00:17:40.10\00:17:42.96
but anexpert"in the fields of
financial management and Bible
00:17:42.96\00:17:45.10
prophecy. We are talking today
about how believers in Jesus
00:17:45.10\00:17:50.86
should approach finances keeping
in mind that Jesus is returning
00:17:50.86\00:17:54.86
we believe soon! Now, the
last thing we spoke about you
00:17:54.86\00:17:56.83
know, really, this is the sort
of thing we can talk about all
00:17:56.83\00:18:00.06
day, how important it is
for a person to live within
00:18:00.06\00:18:02.96
their means ER: Yes.
00:18:02.96\00:18:04.70
JB: If you have $10 don't
spend $11. Which means that
00:18:04.70\00:18:08.36
if I have an income of X
and I want to buy an automobile
00:18:08.36\00:18:12.70
that really belongs to someone
who has an income of Y or X
00:18:12.70\00:18:18.76
times 3, I might want to scale
back my expectations a little
00:18:18.76\00:18:21.60
bit, right?
00:18:21.60\00:18:21.90
ER: I think so. Yes.
00:18:21.90\00:18:22.63
And let me just suggest also
that it is a good idea to have a
00:18:22.63\00:18:26.30
little savings, even if you have
a smaller income than you would
00:18:26.30\00:18:29.03
like, I would suggest saving
something out of every paycheck
00:18:29.03\00:18:32.73
and this not for
retirement Wha I am talking
00:18:32.73\00:18:34.63
about here is doing
something for emergency's sake.'
00:18:34.63\00:18:38.20
JB: Okay.
00:18:38.20\00:18:38.90
Now someone, she is sitting here
watching our program. She is at
00:18:38.90\00:18:42.43
home raising her two and a half
kids, and dad has a job, it's
00:18:42.43\00:18:45.26
not a high paying job and she's
sayingthis guy is saying save?
00:18:45.26\00:18:50.53
I can't even get the
groceries paid for each week.
00:18:50.53\00:18:52.00
ER: I would budget
savings just like groceries
00:18:52.00\00:18:54.63
or utilities. It could
be a small amount, like $50
00:18:54.63\00:18:58.46
every paycheck or something. But
when you can build that up, many
00:18:58.46\00:19:02.53
financial counselors suggest
having at least a $1,000 for
00:19:02.53\00:19:05.76
emergency and try to have .. the
general savings is three to six
00:19:05.76\00:19:10.10
months equivalent of living
expenses in an emergency savings
00:19:10.10\00:19:13.86
fund that you can draw upon
should you have transmission
00:19:13.86\00:19:17.50
problems with your car, your
refrigerator goes out, you have
00:19:17.50\00:19:19.76
a health emergency that
your insurance doesn't cover.
00:19:19.76\00:19:21.56
JB: This isn't for
a trip to Disneyland?
00:19:21.56\00:19:23.30
ER: No, no, no. And the real
interesting thing I would tell
00:19:23.30\00:19:25.90
you is, even eating
out is kind of incredible.
00:19:25.90\00:19:30.96
I would suggest that if you eat
out once a day, it doubles your
00:19:30.96\00:19:34.30
family's food budget for the
month. So eating out should be a
00:19:34.30\00:19:36.96
special occasion, you know,
for a special thing, birthdays,
00:19:36.96\00:19:39.63
anniversaries, that kind
of thing. And the most amazing
00:19:39.63\00:19:42.80
thing to show you that Americans
need that, go to any well-known
00:19:42.80\00:19:47.36
restaurant and you have to wait
to get in, even though there is
00:19:47.36\00:19:51.46
a downturn in the economy,
people are still eating out.
00:19:51.46\00:19:53.56
JB: I have wondered.
00:19:53.56\00:19:54.00
I have marveled, as a
matter of fact, many times
00:19:54.00\00:19:55.60
that the economy is
apparently in such bad shape
00:19:55.60\00:19:57.60
that the restaurants are full.
00:19:57.60\00:19:58.90
ER: Yes, isn't that incredible?
00:19:58.90\00:20:00.00
JB: Yes. That's not something
you have to do eat out. But it
00:20:00.00\00:20:02.43
is something you could, perhaps,
you could work that another way,
00:20:02.43\00:20:05.26
couldn't you?
00:20:05.26\00:20:05.73
ER: Lack of savings is
the biggest reason people
00:20:05.73\00:20:08.56
go in debt. They don't intend
to go in debt but something
00:20:08.56\00:20:11.53
happens to their car, or
you know something like that.
00:20:11.53\00:20:14.90
They have to go then
and put it on a credit card
00:20:14.90\00:20:17.46
and then they pay for
it two or three times over.
00:20:17.46\00:20:20.43
JB: Now what about investing?
00:20:20.43\00:20:21.63
I know we gotta be careful here.
00:20:21.63\00:20:22.56
We can't tell people
what to invest in and what not
00:20:22.56\00:20:24.10
to invest in.
00:20:24.10\00:20:24.73
ER: Yes.
00:20:24.73\00:20:24.96
JB: How should a
person approach investing?
00:20:24.96\00:20:26.73
ER: Well this is a very
good question because obviously,
00:20:26.73\00:20:29.30
wise and prudent people
don't spend everything they
00:20:29.30\00:20:32.36
make. As I said before,
live within your income. But you
00:20:32.36\00:20:35.40
would have to think in terms of
the future. When you can't work
00:20:35.40\00:20:39.30
as gainfully as you used to,
or should you lose your job or
00:20:39.30\00:20:41.76
whatever. So I would suggest,
first of all, invest in your own
00:20:41.76\00:20:44.96
debts. That's the very
best investment anyone can make.
00:20:44.96\00:20:47.80
Guaranteed return. For example,
if you have money in a CD, you
00:20:47.80\00:20:52.53
might be getting 1% or 2% but if
you are paying off your credit
00:20:52.53\00:20:56.06
cards, you're making 10% or 27%
so that's an investment that I
00:20:56.06\00:21:00.13
would recommend. But another
thing is, in these unusual times
00:21:00.13\00:21:04.10
and by the way, your question
is so good that I want to insert
00:21:04.10\00:21:07.46
this BEWARE of get rich quick
schemes. There are hawksters out
00:21:07.46\00:21:10.63
there that want to get your
money. And so I would suggest
00:21:10.63\00:21:13.96
that people always counsel with
someone else before investing
00:21:13.96\00:21:16.56
somewhere. This great thing
comes along by the way, most
00:21:16.56\00:21:20.26
get rich quick schemes are
introduced to people by their
00:21:20.26\00:21:23.00
friends who sincerely believe
they are doing their friends a
00:21:23.00\00:21:25.26
favor. But you have to really
look at it. Something you don't
00:21:25.26\00:21:29.00
understand, you have to invest
quickly, you know it's gonna
00:21:29.00\00:21:31.76
promise high returns, all of
that. And I'm just going to tell
00:21:31.76\00:21:35.53
you AVOID those at all cost.
00:21:35.53\00:21:37.83
Even if it makes you so you
are not friends with that person
00:21:37.83\00:21:42.43
because you are going to
end up not being friends anyway.
00:21:42.43\00:21:44.23
JB: Typically with investing,
isn't it true, if something
00:21:44.23\00:21:45.40
seems too good to
be true, it usually is.
00:21:45.40\00:21:48.00
ER: Oh Yes. It almost always is.
00:21:48.00\00:21:48.76
And the real interesting thing
about investments, I would say,
00:21:48.76\00:21:50.96
even though the government
is trillions of dollars in debt,
00:21:50.96\00:21:56.30
probably the safest investments
are government-backed
00:21:56.30\00:21:59.60
securities. Because the
government has the unique
00:21:59.60\00:22:01.20
ability to print money if they
need to. But you know, it's kind
00:22:01.20\00:22:03.83
of the standard. So I would
suggest, if you have to put
00:22:03.83\00:22:07.06
money away that you're not
investing in your debts, put it
00:22:07.06\00:22:10.06
in a secure position. Because if
you could make more in the stock
00:22:10.06\00:22:13.30
market, the higher the level of
income offered, the greater risk
00:22:13.30\00:22:16.90
it is. That's always true
whether the people telling you
00:22:16.90\00:22:19.20
believe it or not, whether you
believe it or not, whether it
00:22:19.20\00:22:22.46
seems possible even. The
higher the interest promised,
00:22:22.46\00:22:25.46
the greater the risk.
00:22:25.46\00:22:27.03
It's always true.
00:22:27.03\00:22:27.43
JB: Now if Jesus is coming
back soon, if the end is near,
00:22:27.43\00:22:29.73
and I don't' say that in
fact, I don't say that as a doom
00:22:29.73\00:22:32.20
merchant, I say
that full of hope.
00:22:32.20\00:22:34.00
ER: Aren't we all excited?
00:22:34.00\00:22:34.83
JB: How important is it that
a person really keeps an eye on
00:22:34.83\00:22:36.40
the future?
00:22:36.40\00:22:37.00
ER: Well I will just tell you
this. Christian Bible believers
00:22:37.00\00:22:42.00
have inside information.
00:22:42.00\00:22:43.73
Now in the investing
world, that's not a good idea
00:22:43.73\00:22:46.13
of having, as you know.
00:22:46.13\00:22:47.53
But we have inside information
and it's in 2 Peter 3:10,
00:22:47.53\00:22:50.43
that when the Lord
returns, the earth will get
00:22:50.43\00:22:54.83
burned up and all the works
of men and as I tell people,
00:22:54.83\00:22:57.93
that will reduce its value
considerably. All the stuff gets
00:22:57.93\00:23:00.36
burned up. So I would say as a
Christian, you know, get rid of
00:23:00.36\00:23:04.16
the stuff that you don't need.
00:23:04.16\00:23:05.10
A lot of the us have things
we've carried around for years
00:23:05.10\00:23:07.66
that we really don't need.
00:23:07.66\00:23:08.80
Divest yourself of
the stuff you don't need.
00:23:08.80\00:23:11.60
Sell it at yard sales.
00:23:11.60\00:23:13.10
Now here's the real story.
00:23:13.10\00:23:14.50
Christians are going to work
together for the greatest event
00:23:14.50\00:23:17.03
ever and that's to work together
to finish the work of God on
00:23:17.03\00:23:19.36
this earth. It is not going to
be free. God is going to ask us
00:23:19.36\00:23:22.26
to utilize stuff he has given
us. Remember,honor the Lord
00:23:22.26\00:23:26.16
with your possessions, your
stuff and that's the way we help
00:23:26.16\00:23:28.93
him do it, helping Him to finish
the work of God. So I think
00:23:28.93\00:23:31.83
another thing. This earth is
not our final home. We have dual
00:23:31.83\00:23:35.06
citizenship as Christians,
citizens here of whatever
00:23:35.06\00:23:38.66
country we are in and
citizenship in heaven when we
00:23:38.66\00:23:41.30
accept Christ. So we are moving
from one to the other and we
00:23:41.30\00:23:44.83
want to move our assets from
here to the new earth so that we
00:23:44.83\00:23:48.76
can be blessed and to
bless others at the same time.
00:23:48.76\00:23:51.80
JB: Okay. Let's go to the Bible.
00:23:51.80\00:23:52.96
A couple of verses, a
couple of Bible verses
00:23:52.96\00:23:55.73
that you believe are especially
helpful, especially pertinent
00:23:55.73\00:23:58.23
to people as they are wanting
to honor the Lord with what
00:23:58.23\00:24:00.73
they have, keeping in
mind that the time is short.
00:24:00.73\00:24:03.23
ER: Well, I would think
of first John. That's a very
00:24:03.23\00:24:06.23
interesting one. Chapter two.
00:24:06.23\00:24:08.90
I believe I have it marked here
in my Bible so I can find it
00:24:08.90\00:24:11.43
quickly and verses 15 to 17 says
something similar to 2 Peter
00:24:11.43\00:24:16.43
that I just mentioned. Don't
love the world or the things in
00:24:16.43\00:24:18.96
the world. If you do, the
love of the Father is not in you
00:24:18.96\00:24:21.93
because all that is in the
world, the lust of the eyes and
00:24:21.93\00:24:24.76
so on, is not of the Father but
is of the world. And that's just
00:24:24.76\00:24:28.03
giving this point. The world is
passing away and the lust of it.
00:24:28.03\00:24:33.13
But he that does the will of God
abides forever. 1 John 2:17. So
00:24:33.13\00:24:37.26
what that says to me is it's not
going to pass away, it is in the
00:24:37.26\00:24:41.66
process of passing away. With
all of the natural disasters and
00:24:41.66\00:24:45.93
things, the world is waxing old
like a garment, is what it says
00:24:45.93\00:24:49.13
in the Bible. And we have
to understand. I believe in
00:24:49.13\00:24:52.26
ecology. I believe in separating
my trash and all that kind of
00:24:52.26\00:24:55.00
stuff. But we are not going
to save the planet. The Bible is
00:24:55.00\00:24:57.50
clear that it is passing away
and the lust of it but he that
00:24:57.50\00:25:01.40
does the will of God abides
forever. So I would say that as
00:25:01.40\00:25:03.73
you read through the Scripture,
look for the will of God, put
00:25:03.73\00:25:05.93
that part in your life.
00:25:05.93\00:25:07.06
JB: How about if we pray
together because a lot of people
00:25:07.06\00:25:09.16
are taking on board what
you have said today and they
00:25:09.16\00:25:10.90
are saying, Lord, some
things have got to change
00:25:10.90\00:25:12.40
around here. I've got to
get it right now and it's not
00:25:12.40\00:25:15.10
going to happen
unless people are praying
00:25:15.10\00:25:16.43
their way through this.
00:25:16.43\00:25:17.46
Let's pray together, shall we?
00:25:17.46\00:25:18.06
ER: Okay.
00:25:18.06\00:25:19.10
JB: Our Father, we thank
you in the name of Jesus that
00:25:19.10\00:25:22.26
you are willing to guide us
in some of the most practical
00:25:22.26\00:25:27.33
and important areas of our
lives. There are a few things
00:25:27.33\00:25:30.40
more practical than our daily
finances. We are all confronted
00:25:30.40\00:25:34.66
with the importance of them and
sometimes confounded by them. As
00:25:34.66\00:25:38.13
we have talked today, Ed and I,
I pray that you would guide us
00:25:38.13\00:25:41.26
all as we seek to honor you with
our stuff, and our possessions
00:25:41.26\00:25:46.86
and our finances, as we seek to
plan prudently with the return
00:25:46.86\00:25:50.53
of Jesus so imminent. I pray
your Holy Spirit will guide us
00:25:50.53\00:25:55.53
and keep us. Let your will
be done. Please be first in our
00:25:55.53\00:25:58.63
lives and let us face the future
with confidence, confidence that
00:25:58.63\00:26:02.60
comes from knowing we are
honoring you. In Jesus' name we
00:26:02.60\00:26:05.20
pray, Amen.
00:26:05.20\00:26:05.50
ER: Amen.
00:26:05.50\00:26:08.40
Today we have been
talking about crucial financial
00:26:30.23\00:26:31.86
issues that affect all of us.
00:26:31.86\00:26:32.96
Our goal at It Is Written
is to help you live a more
00:26:32.96\00:26:35.96
satisfying and God-centered
life. So this week, our free
00:26:35.96\00:26:39.93
offer is a helpful book on
finance called God will provide.
00:26:39.93\00:26:45.16
It is a practical discussion on
how God has promised to provide
00:26:45.16\00:26:48.93
for the needs of His faithful
servant and includes a special
00:26:48.93\00:26:53.23
section prepared by Ed Reid,
whom you met on today's program
00:26:53.23\00:26:56.03
Managing Finances in Difficult
Times. Please call or write us
00:26:56.03\00:26:58.66
and this free book will be on
its way to you. There's no cost
00:26:58.66\00:27:03.33
and no obligation. Just call
1 800 253 3000. Just ask for the
00:27:03.33\00:27:08.53
book God will Provide. You can
also request this free book by
00:27:08.53\00:27:11.50
writing to It Is Written, Box
O, Thousand Oaks, CA 91359 and
00:27:11.50\00:27:15.73
we'll mail a copy to your
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00:27:15.73\00:27:22.36
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00:27:22.36\00:27:26.70
immediate access, you can
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00:27:26.70\00:27:29.90
version of the book God
will Provide, from our website
00:27:29.90\00:27:33.83
itiswritten.com. Thank you for
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00:27:33.83\00:27:37.46
support. It is Written is
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00:27:37.46\00:27:40.53
possible by viewers like you. If
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00:27:50.13\00:27:51.13
And thank you for
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00:27:51.73\00:27:53.60
forward to seeing you again next
time. Until then, remember: It
00:27:53.60\00:27:57.40
Is Written, man shall not live
by bread alone but by every word
00:27:57.40\00:28:01.10
that proceeds
from the mouth of God.
00:28:01.10\00:28:04.63