On Take It To The Bank,
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you will find ways
to get out of debt,
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solve your credit card problems,
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how to make and
stick with a budget,
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simple ways to save,
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buying or selling a home
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and many more financial matters,
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on Take It To The Bank.
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Hi, my name is Cordell Thomas
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and this is Take It To The Bank.
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And I'm here with you
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and this program to talk to you
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about a couple of things.
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One is, Avoiding The
Holiday Shoppers' Hangover,
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if I could put it that way.
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And of course, talk
to you a little bit about
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what it really
takes to understand
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your financial literacy
and where you want to be
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from a financial perspective.
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The first thing I'd like
to really talk to you about
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is a personal
experience of mine.
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When I was younger,
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I had an opportunity to
get a job at a department store
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and this
specific department store
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offered its own credit card.
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I enjoyed it because I saw
all the new designs coming out.
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I saw the whole, the
whole games that they play
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with new-- new shirts,
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clothing and all
those type of things.
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And what it got me
into was this threshold of,
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I need those items.
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I want those new styles.
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I want to start
buying and I remembered
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it clearly as I
go each day to work.
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I probably
wouldn't leave, you know,
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without buying
something each and everyday
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and running my debt to
whole different levels.
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And I remember the
context very clearly.
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I was dressing in
very nice clothing,
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but the thing
that was really unique,
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it was a higher
end department store.
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And a lot of the
stuff that they had were
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far more expensive than,
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if I just bought it
at some lower end store
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that had the
same type of quality.
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But what was interesting is,
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some of the clients that came in
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and that I worked
with, they bought, you know,
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they would buy
$5000, $6000, $7000
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worth of stuff at
one-- at one setting.
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They would come in and
they would have an idea
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what they wanted to buy
and you would go in and,
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and help them decide
what they should buy.
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The only problem with
that job is the fact that,
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if I was paid a commission,
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I would have made a ton of money
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because of the type of
clients that were there.
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I got paid an hourly salary,
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so I didn't have
that much coming in.
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And one of the major issues
just coming out of college was,
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I didn't decide
on a specific budget
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that I should be
managing for myself.
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It was a very interesting
time because as I look back
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from where I am now,
I did everything wrong.
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which is a key for me
talking to you about this,
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this experience, is as I
went through that situation
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at the department store,
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I learned about debt
from a real time perspective
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and understood later on
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that I was going to
need help to get out of it.
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I had a great father and
he understood the situation
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and he made it a
learning experience,
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of which I cycled
through again in my life.
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But the context is, at that time
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I didn't know where I was,
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I didn't know
where I wanted to be,
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I didn't know
where I was heading
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and so I was completely out in
this landscape without a plan.
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Consider me trying to
find my way back to my home
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in California without
making a plan and getting there.
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Was I gonna take a
plane? Was I gonna drive?
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What route would I
take? Where would I go?
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Which direction would I take?
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Have I made out a map?
Have I planned for the guest?
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Have I made sure
the car has enough oil?
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Have I done all the
necessary planning to get there?
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No, I had done
none of that planning.
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And what I am
choosing to tell you
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through the experience is this.
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Without a plan and
without a destination,
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you won't get there.
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The key is, make the plan.
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What is the plan?
The plan is the budget.
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The budget is
key to understanding
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where you want to go.
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Sit down and
write those priorities.
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Write down those goals
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and make sure you
prioritize those goals,
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so you have an
understanding of the direction
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I'm taking,
where I'd like to be,
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by when and giving
yourself that goal to get there.
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So I now know that if
I want to save $10,000
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for the plan to
purchase of a new car,
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I have to know how
much money I have coming in.
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I have to know how much I
have to pay out in expenses
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in a monthly basis.
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And I also have to
know how much money
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I can plug into those accounts
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for the specific
savings of the car.
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Without a plan
you're going into disaster.
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And I ran towards disaster.
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I was running headlong into it
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because I didn't
know where I was at.
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And the key to this,
this testimony is this.
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Make a plan. What is the plan?
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Make a budget,
that is your plan.
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Stick with your plan.
Don't deviate from your plan.
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Ensure it's a
reachable target and make sure
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you're trying to make your way
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through to a debt
free type of lifestyle.
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Planning is key.
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So as I decided what I wanted
to talk to you about today,
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I decided to think
about what is that gets people
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around the holiday timeframe?
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What is it about people
that gets them caught up
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in the frenzy of buying stuff,
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of doing stuff,
of getting stuff?
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I mean I'm amazed at times
about, you know, black Friday
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and all of these
labels they placed on major,
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major shopping
days that lure people in
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and they line up and
they campout overnight
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and they do all of
these strange things
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just to be in the
position to get something,
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to get something that
they may not necessarily need.
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And it pushes me back to
the context of that verse
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about possessions.
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What does it say? Is it Luke?
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"A man's life does not consists
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in the abundance
of his possessions."
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It's not about
things. What is it about?
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Well, we take a
look at 1Corinthians 4:2.
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Where is 1 Corinthians?
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Again, it's the New
Testament, after the gospels,
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after Acts and Romans,
you've come to 1Corinthians 4:2,
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talks about an issue
of what a steward is.
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A good steward
is found faithful.
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It's someone that you can
trust and trusts with money
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and trust with a talent
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and know that they
are gonna take care of it.
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And not only take care of it,
they are going to make it work
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and make it grow.
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That is a concept that I
like to deliver it to you today.
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In that story in Luke,
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if we go back to
that specific chapter,
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I'd like to point out
one thing that many people
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don't really get to
when they read that parable.
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It says that, after
he said that it is not
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about a man's
abundance of his possessions.
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He says, "There's
a certain rich man
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who produced a good crop.
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He thought of himself
and he thought to himself.
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Hey, what shall I do?
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I have no place to
store all of my stuff,
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all of my crops in this case.
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Then he said,
this is what I'll do,
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I'll tear down my barns,
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I'll build bigger
ones and there I'll store
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all my grain and my goods.
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And I'll say to myself,
you have plenty of good thing
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laid up for many years.
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Take life easy,
eat, drink and be merry."
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The next verse is
very important to me
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because as I read it,
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I began to realize
what was lacking in my life
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and what God was doing to
me in all of the situations
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that I now look back
on and I can recognize.
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He says, "But God said to
him, 'You fool, this very night
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your life will be
demanded from you,
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then who will get what you
have prepared for yourself.
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This is how will be with
anyone who stores up things
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for himself, but is
not rich towards God."
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We have a responsibility.
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If you take a look at
the parable of the talents,
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our responsibility is a
talent that God gives us.
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The Holy Sprit blesses
us with specific talents.
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We need to take those
skills and make them work.
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In the case of talent of
money, each one of the servants
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were given a
certain amount of money
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and two of the
servants were able to double
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that money on
behalf of the master.
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The third servant
didn't do anything with it.
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As a matter of
fact, he buried it,
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left it alone and came
back with an excuse saying,
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I didn't do anything with it.
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I was too afraid so
here's your money back.
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The
responsibility you have is now
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to take and
maximize those talents
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the Holy Spirit
is blessed you with.
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And to take it and do
as much as you possibly can
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to bring about
the kingdom of God.
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That is your responsibility
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and I think that is
what the Bible is telling us
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in reference to
our responsibility
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with the wealth
that we're given.
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It's not about the possessions.
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It's about how we
help in the overall process
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of sharing the
gospel with the globe
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that is in need of it.
00:09:20.59\00:09:22.29
So as I've titled this program,
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Avoiding The
Holiday Shoppers' Hangover,
00:09:26.29\00:09:28.80
consumer awareness.
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We're gonna talk
about a few things
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in reference to acquisitions.
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And I will...
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Acquisitions
meaning you purchases,
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those things you buy.
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The first thing I'd
like to do is share with you
00:09:38.11\00:09:40.21
a specific case scenario.
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Case application.
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Jim, Ron, Bill, could be anybody
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recently purchased a sweater
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for his wife over the
phone, over the telephone.
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When the item was
received, it was lightly,
00:09:52.45\00:09:55.46
it was slightly damaged.
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When he returned it, he
received another sweater,
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but also received another bill.
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The company says he
owes for two sweaters.
00:10:02.86\00:10:06.10
What would you
do if you were Jim?
00:10:06.13\00:10:08.94
What's your process?
00:10:08.97\00:10:10.31
My question is, why
did you buy over the phone?
00:10:10.34\00:10:12.51
Did you do any
research about it?
00:10:12.54\00:10:13.98
Was it from a catalogue?
Did you see it online?
00:10:14.01\00:10:16.85
There are many
different questions
00:10:16.88\00:10:18.21
that I would begin
the process of asking
00:10:18.25\00:10:19.78
because if you didn't
do your due diligence,
00:10:19.81\00:10:22.12
and do some
research about the process,
00:10:22.15\00:10:24.52
and even researched the company
you're planning to buy from...
00:10:24.55\00:10:27.59
how did you--
what is their quality?
00:10:27.62\00:10:29.62
What is their respect
around in the community?
00:10:29.66\00:10:32.19
Have you questioned?
00:10:32.23\00:10:33.56
Have you dealt with
that type of research?
00:10:33.60\00:10:35.93
So he has now a
sweater that was defective.
00:10:35.96\00:10:38.93
Was that what it
said? It was damaged.
00:10:38.97\00:10:40.44
And then he returns it.
00:10:40.47\00:10:42.04
So number one, the quality
of the product is not good.
00:10:42.07\00:10:44.77
Secondarily, he returns it
and the company is not organized
00:10:44.81\00:10:48.24
enough to know that he
returned one and bought another.
00:10:48.28\00:10:51.21
So just credit him for the
amount or just not do anything
00:10:51.25\00:10:54.22
and just give
him an even exchange.
00:10:54.25\00:10:55.92
That's all they
would need to do,
00:10:55.95\00:10:57.29
but there seems to
be a management issue,
00:10:57.32\00:10:59.62
and a process flow issue,
as well as the concept of...
00:10:59.65\00:11:02.02
Hey, the quality of the
product is not that good.
00:11:02.06\00:11:06.73
Now it doesn't talk
about the new one he received.
00:11:06.76\00:11:09.33
Did he look at it?
Is it the same quality?
00:11:09.36\00:11:11.43
Was it good? I don't know.
00:11:11.47\00:11:13.44
But the context is,
as he got the second one
00:11:13.47\00:11:15.40
and then he got a second bill.
00:11:15.44\00:11:16.77
So he's paying
twice for a product
00:11:16.81\00:11:19.07
that he only has one off.
00:11:19.11\00:11:21.18
Okay.
00:11:21.21\00:11:22.54
My recommendation is,
00:11:22.58\00:11:23.91
Jim should start by
calling the company.
00:11:23.95\00:11:27.52
He should explain the situation
00:11:27.55\00:11:29.65
that he's in and
next he should put,
00:11:29.68\00:11:32.95
put the explanation
and the conversation
00:11:32.99\00:11:35.32
he's had with the
company in writing
00:11:35.36\00:11:37.79
and show them
that he's followed up
00:11:37.83\00:11:41.16
and done his due diligence.
00:11:41.20\00:11:44.00
Now if that doesn't work,
00:11:44.03\00:11:46.84
then he might contact a
local state consumer group
00:11:46.87\00:11:50.61
or whatever the case maybe
and take it a step further.
00:11:50.64\00:11:53.11
But the situation that
you have to consider in all
00:11:53.14\00:11:56.48
of this is, over the holidays,
does it make it harder work
00:11:56.51\00:12:00.62
if you buy
something from a distance away
00:12:00.65\00:12:03.49
and it's shipped to
you, bought it online,
00:12:03.52\00:12:05.85
bought it via mail-order.
00:12:05.89\00:12:07.72
And you don't have
a personal connection.
00:12:07.76\00:12:10.39
You don't have
someone to talk to you.
00:12:10.43\00:12:12.16
You don't have
someone you can interact with
00:12:12.19\00:12:14.30
to straighten out the problem.
00:12:14.33\00:12:15.66
And when it comes
to returning the item,
00:12:15.70\00:12:17.43
you're gonna
have to ship it back,
00:12:17.47\00:12:19.03
you're gonna have to
wait for three or four days,
00:12:19.07\00:12:20.47
you're gonna
have to wait for them
00:12:20.50\00:12:22.10
to ship you the new product
00:12:22.14\00:12:23.51
and then all of a sudden
you've been billed twice.
00:12:23.54\00:12:26.98
Now if it's negligible,
some people would say,
00:12:27.01\00:12:29.41
ah, whatever.
00:12:29.44\00:12:30.78
You know 14 bucks I got
when I need, it's a gift,
00:12:30.81\00:12:32.61
no big deal.
00:12:32.65\00:12:33.98
But it is a big
deal, $14 is $14.
00:12:34.02\00:12:38.69
So as you consider
these holiday shopping issues,
00:12:38.72\00:12:43.96
I think the key
to this is knowing
00:12:43.99\00:12:47.90
how-- the approach you
have for buying things,
00:12:47.93\00:12:52.40
how comfortable it is for you.
00:12:52.43\00:12:54.57
Do you need a tangible store
of physical brick-and-mortar?
00:12:54.60\00:12:59.34
Or do you actually need
an internet based store?
00:12:59.37\00:13:03.75
Of course, you can buy
from major manufacturers online
00:13:03.78\00:13:06.11
and they have a local places
00:13:06.15\00:13:08.78
you can go to
fulfill some of those orders.
00:13:08.82\00:13:11.02
You can purchase online and go
00:13:11.05\00:13:13.09
and pickup from a
physical location.
00:13:13.12\00:13:16.16
They are many
different alternatives,
00:13:16.19\00:13:17.66
but what the key to this is,
00:13:17.69\00:13:19.63
it's saying in this
case is, when you go shopping
00:13:19.66\00:13:22.50
look at the alternatives,
look at the capacity
00:13:22.53\00:13:25.10
for you to fulfill your needs.
00:13:25.13\00:13:26.57
Look at your capacity
to get customer service
00:13:26.60\00:13:29.97
and customer satisfaction
00:13:30.01\00:13:31.57
because all it takes
is one negative experience
00:13:31.61\00:13:34.14
in the situation that he is in.
00:13:34.18\00:13:36.61
Holiday shopping, you
are right around the holidays
00:13:36.64\00:13:39.21
and guess what happens?
00:13:39.25\00:13:40.58
You're dealing with
the hustle and bustle
00:13:40.62\00:13:42.25
and the volumes of traffic.
00:13:42.28\00:13:44.49
I personally don't like
shopping around those type of,
00:13:44.52\00:13:47.89
those times. I
don't like crowds.
00:13:47.92\00:13:50.33
I don't like the
pushing and the mayhem
00:13:50.36\00:13:52.63
that happens at that time.
00:13:52.66\00:13:54.13
So I select a common
time of year to do shopping.
00:13:54.16\00:13:57.83
And I personally now,
don't like going into a store.
00:13:57.87\00:14:01.97
You should see me and my wife.
00:14:02.00\00:14:03.34
My wife used to look at
me and see me tapping my toes
00:14:03.37\00:14:05.84
and twiddling my thumbs
and trying to figure out
00:14:05.87\00:14:08.61
when are we getting out of here.
00:14:08.64\00:14:10.85
She is one of the best shoppers.
00:14:10.88\00:14:12.81
She looks for the best deals.
00:14:12.85\00:14:14.48
I shop online and
go into the store.
00:14:14.52\00:14:17.92
I know what I want. I
pick it up and I go out.
00:14:17.95\00:14:20.19
The least amount of
time I spend in a store,
00:14:20.22\00:14:22.82
is the less time
I have to be tempted
00:14:22.86\00:14:24.36
to buy something else.
00:14:24.39\00:14:25.73
I am very, very
easily distracted.
00:14:25.76\00:14:28.43
And if I see something
that pops up, it can pull me
00:14:28.46\00:14:31.53
and give me that temptation.
00:14:31.57\00:14:32.90
So I choose the process
that's comfortable for me.
00:14:32.93\00:14:38.44
You find a process
that's comfortable for you.
00:14:38.47\00:14:43.08
Avoiding holiday
shoppers blues means avoiding
00:14:43.11\00:14:46.41
the things that bother you.
00:14:46.45\00:14:48.45
Customer service issues,
the difficulty of returns,
00:14:48.48\00:14:51.85
the places you go to buy things,
00:14:51.89\00:14:54.09
the internet
based possibilities,
00:14:54.12\00:14:57.16
all of these
have a place to play
00:14:57.19\00:14:59.49
in your specific life.
00:14:59.53\00:15:01.60
And remember, if
you have assessed
00:15:01.63\00:15:04.00
your position in life,
and you've created a budget,
00:15:04.03\00:15:06.74
and you have cut your spending,
00:15:06.77\00:15:08.10
and you saved what you want,
00:15:08.14\00:15:10.14
it also gives you
that added integrity now
00:15:10.17\00:15:15.58
to know that I am going to abide
00:15:15.61\00:15:18.18
by the budget I
have set for myself
00:15:18.21\00:15:21.68
and I'm not going
to deviate from it,
00:15:21.72\00:15:24.62
no matter what the temptation.
00:15:24.65\00:15:25.99
So for me, I go in...
00:15:26.02\00:15:28.26
Well, first of all I go online,
00:15:28.29\00:15:30.59
I shop. I compare.
00:15:30.63\00:15:32.06
I find out where the
best price is. I call up.
00:15:32.09\00:15:34.56
Do they have an inventory?
00:15:34.60\00:15:35.93
And I go straight
there, I go straight in,
00:15:35.96\00:15:38.53
I find the
location of the product,
00:15:38.57\00:15:40.00
I pick it up, I go
straight to the checkout
00:15:40.04\00:15:43.44
and I checkout and
go because if I walk...
00:15:43.47\00:15:47.21
Oh, what's that? Do I need it?
00:15:47.24\00:15:49.94
And then I go through
this conversation in my mind.
00:15:49.98\00:15:52.31
And if my wife is not
with me, it's even deadlier.
00:15:52.35\00:15:54.82
If my wife is with
me, it's a great situation
00:15:54.85\00:15:56.48
because she just looks
at me and I know the look.
00:15:56.52\00:15:59.05
You know that look?
Are you crazy? Okay.
00:15:59.09\00:16:02.36
So I turn around and
say, let's go, honey,
00:16:02.39\00:16:05.26
there's no big deal.
00:16:05.29\00:16:06.63
The concept is
yours. The context is this.
00:16:06.66\00:16:09.63
Find what fits your
needs and abide by it. Okay.
00:16:09.66\00:16:15.64
So we've talked
about Jim, Bill, Ben,
00:16:15.67\00:16:17.31
whatever the case
be, it could be you.
00:16:17.34\00:16:19.77
Take it upon yourself
to find what's comfortable.
00:16:19.81\00:16:23.48
Deciding what to buy,
is it a want versus a need?
00:16:23.51\00:16:27.75
What are some of the strategies
00:16:27.78\00:16:29.12
that smart shoppers use?
00:16:29.15\00:16:31.12
Deciding what they
want, shopping, researching,
00:16:31.15\00:16:34.96
and making those decisions.
00:16:34.99\00:16:36.52
And I would suspect
one of those strategies is,
00:16:36.56\00:16:39.13
take a cool off period.
00:16:39.16\00:16:40.50
If you're going to
buy a big screen TV,
00:16:40.53\00:16:42.86
if you're buying a
big appliance, go in,
00:16:42.90\00:16:45.33
shop, do the
research, shop around,
00:16:45.37\00:16:47.64
negotiate and go
home for a couple of days
00:16:47.67\00:16:49.80
and think about it.
00:16:49.84\00:16:51.17
If you don't go by and buy
it, you never really needed it
00:16:51.21\00:16:54.31
in the first place.
00:16:54.34\00:16:56.08
Take a look at
what choices you make
00:16:56.11\00:16:58.48
and why you make those choices?
00:16:58.51\00:17:00.58
What's builds in?
Is it about values?
00:17:00.62\00:17:03.42
Values is key.
00:17:03.45\00:17:05.32
We have led a generation
to this issue of credit,
00:17:05.35\00:17:09.92
when credit is not
necessarily that important.
00:17:09.96\00:17:12.86
What is important
is, the savings aspect
00:17:12.89\00:17:16.87
and the planning
process for the acquisitions
00:17:16.90\00:17:19.87
or the purchases that you make.
00:17:19.90\00:17:23.51
Is it a need?
00:17:23.54\00:17:24.87
What are the
resources that are available
00:17:24.91\00:17:26.24
for that purchase?
00:17:26.27\00:17:28.28
What about
quality? What is quality?
00:17:28.31\00:17:30.35
What does quality
have to plan to it?
00:17:30.38\00:17:32.28
What are the pros and
cons with different stores
00:17:32.31\00:17:34.55
that you use and that is deep.
00:17:34.58\00:17:37.29
I had an
opportunity at one point in time
00:17:37.32\00:17:39.22
to purchase a camera.
00:17:39.25\00:17:43.53
And in making that purchase
00:17:43.56\00:17:45.53
I had the opportunity
to either go into a store,
00:17:45.56\00:17:49.00
a physical store and
a well known brand store
00:17:49.03\00:17:52.10
or I could buy that camera
for a lot less via mail order.
00:17:52.13\00:17:59.97
Now here is the key.
00:18:00.01\00:18:01.98
There are mail
order companies all over.
00:18:02.01\00:18:03.35
There's some of them
00:18:03.38\00:18:05.71
that are not that good from
a customer service standpoint
00:18:05.75\00:18:10.02
and they are going to
hammer you from the standpoint
00:18:10.05\00:18:13.09
of credibility and of course,
00:18:13.12\00:18:15.52
getting the product
that you actually want.
00:18:15.56\00:18:17.23
Some are very misleading.
00:18:17.26\00:18:19.19
I went online and
found a couple of great deals
00:18:19.23\00:18:22.73
on cameras, but when you
00:18:22.76\00:18:24.10
called up and did the research,
00:18:24.13\00:18:25.53
these companies
had bad reputations
00:18:25.57\00:18:28.00
for customer services, terrible.
00:18:28.04\00:18:29.94
And you don't know if
you're gonna get the camera
00:18:29.97\00:18:31.31
that you want.
00:18:31.34\00:18:32.67
And the other issue goes
right back to the case scenario
00:18:32.71\00:18:34.84
we had before with Jim
is, if you buy it mail order
00:18:34.88\00:18:39.78
I'm gonna have to ship
it back across the country
00:18:39.81\00:18:42.45
to the people if I don't
get what I necessarily wanted.
00:18:42.48\00:18:46.45
And number two, if they
have bad customer service,
00:18:46.49\00:18:48.62
I'm putting myself in a
very difficult situation.
00:18:48.66\00:18:51.69
So you consider all of
these things in the research
00:18:51.73\00:18:54.56
that you do.
00:18:54.60\00:18:56.03
And then what I decided I
do was to go into a well known
00:18:56.06\00:19:00.57
merchandiser and
purchase the product there
00:19:00.60\00:19:03.57
because if there's a problem
00:19:03.61\00:19:05.41
I could just go
right back to them
00:19:05.44\00:19:07.01
and return it with
no questions asked.
00:19:07.04\00:19:09.24
They had that reputation
00:19:09.28\00:19:10.61
and I didn't have
to worry about it.
00:19:10.65\00:19:12.08
The other issue is
before I understood the context
00:19:12.11\00:19:14.58
of warranties and registrations
00:19:14.62\00:19:16.58
and those specific issues is,
00:19:16.62\00:19:19.12
they wanted a lot
of information from me.
00:19:19.15\00:19:21.22
They wanted information
that they didn't necessarily
00:19:21.26\00:19:24.36
need to have.
00:19:24.39\00:19:25.73
And one of the things, some
of these smaller companies do,
00:19:25.76\00:19:27.83
is they need that marketing
information and consumer based
00:19:27.86\00:19:30.67
information from you so
they can make extra money
00:19:30.70\00:19:33.47
on the side by consumer data
00:19:33.50\00:19:35.50
that they can sell to
marketing organizations
00:19:35.54\00:19:37.81
and database warehouses.
00:19:37.84\00:19:39.77
Key issue. Okay.
00:19:39.81\00:19:42.64
So we're dealing
with other type of issues,
00:19:42.68\00:19:45.11
comparative shopping,
looking around, research,
00:19:45.15\00:19:48.78
making sure you're
comfortable with the process
00:19:48.82\00:19:51.05
that you have in place
for making an acquisition.
00:19:51.09\00:19:53.99
All of these will
make your holidays,
00:19:54.02\00:19:56.49
your birthday shopping,
00:19:56.52\00:19:58.16
your anytime
shopping, a whole lot easier.
00:19:58.19\00:20:02.00
There are
alternative forms of purchasing.
00:20:02.03\00:20:04.90
There are buying
clubs. You now what those are?
00:20:04.93\00:20:08.00
You pay a fee and you
get a chance to go in and buy
00:20:08.04\00:20:11.34
product in bulk or
whatever the case may be.
00:20:11.37\00:20:14.31
Some feel good about
it, some feel that you
00:20:14.34\00:20:16.64
can actually go out
and make some acquisitions
00:20:16.68\00:20:19.81
in a less expensive
manner by using coupons
00:20:19.85\00:20:22.42
and just by
shopping on the right days.
00:20:22.45\00:20:25.22
That is up to you.
00:20:25.25\00:20:26.59
Again, I ask you
to do the research.
00:20:26.62\00:20:28.69
Go online.
00:20:28.72\00:20:30.06
Search the newspapers,
read, find out as much as you
00:20:30.09\00:20:32.99
possibly can
because in doing so,
00:20:33.03\00:20:35.26
you're going to
make the best value
00:20:35.30\00:20:38.93
for the dollar
you're going to spend. Okay.
00:20:38.97\00:20:42.10
There are layaway
plans that are out there.
00:20:42.14\00:20:46.47
Is layaway plan a
good deal? I don't know.
00:20:46.51\00:20:49.81
If you can't buy it upfront,
then why are you gonna lay
00:20:49.84\00:20:53.45
it away and buy it overtime.
00:20:53.48\00:20:55.68
The key that you
need to know is this.
00:20:55.72\00:20:59.25
I believe that saving is key.
00:20:59.29\00:21:02.99
Plan for what you want
and go back to your budget
00:21:03.02\00:21:06.70
all the time.
00:21:06.73\00:21:08.06
Have we planned?
Have we set a goal?
00:21:08.10\00:21:10.47
Have we prioritized that goal?
00:21:10.50\00:21:12.77
Is it necessary for
us to address our budget
00:21:12.80\00:21:19.57
and fine-tune it, looking
at the trends that we have?
00:21:19.61\00:21:23.11
And as we
prioritize the goals we have,
00:21:23.14\00:21:25.18
is it a part of our
process for purchasing?
00:21:25.21\00:21:27.78
If I've saved $10,000 for
my yearly holiday shopping,
00:21:27.82\00:21:32.25
I should actually take
the time and go in detail
00:21:32.29\00:21:35.72
as to who I'm buying for.
00:21:35.76\00:21:37.73
How much I'm
spending for each person?
00:21:37.76\00:21:39.89
And if you don't
want to show favorites,
00:21:39.93\00:21:41.43
just take a number of
people you're buying for
00:21:41.46\00:21:44.47
and split it into
the amount that you have.
00:21:44.50\00:21:47.00
So you can't say
I played favorite.
00:21:47.04\00:21:48.50
I spent the same
amount for your gift
00:21:48.54\00:21:50.74
as well as for
your sister's gift.
00:21:50.77\00:21:52.37
So you don't have to
worry about it. Okay.
00:21:52.41\00:21:54.41
Those are little
things that you should do.
00:21:54.44\00:21:56.24
One of the major issues that
come up at holiday times is,
00:21:56.28\00:22:02.05
one of two issues.
00:22:02.08\00:22:03.42
One is, I purchased something
that I didn't really need.
00:22:03.45\00:22:05.39
Goes back to the budget.
00:22:05.42\00:22:06.92
You didn't plan for it,
so you don't have to worry
00:22:06.96\00:22:08.29
about that now.
00:22:08.32\00:22:09.66
But there's another thing you
should be very much aware of.
00:22:09.69\00:22:11.96
There are scams and there
are frauds that are out there.
00:22:11.99\00:22:15.86
You need to aware of that.
00:22:15.90\00:22:17.23
They are anything
from telemarketing fraud.
00:22:17.27\00:22:19.20
People will call you, they
will find your information,
00:22:19.23\00:22:22.27
if you shared
too much information,
00:22:22.30\00:22:23.64
they may give you call.
00:22:23.67\00:22:25.21
There is an opt out website.
00:22:25.24\00:22:27.64
Do a search for
that and go in there
00:22:27.68\00:22:29.74
and opt out from
telemarketing calls
00:22:29.78\00:22:31.58
as well as-- it's
get-- being sent all
00:22:31.61\00:22:33.75
of this stuff,
collateral stuff in the mail.
00:22:33.78\00:22:36.92
Key, understand that.
00:22:36.95\00:22:38.69
But also understand
that there are travel scams,
00:22:38.72\00:22:41.72
they are telemarketing scams,
there's telemarketing fraud,
00:22:41.76\00:22:44.53
there are magazine telephone
scams, there are things
00:22:44.56\00:22:50.03
that you can do
to protect yourself
00:22:50.07\00:22:51.73
and I think you
should do so, especially
00:22:51.77\00:22:53.80
as we're looking
at the proliferation
00:22:53.84\00:22:55.17
of ID theft and fraud. Okay.
00:22:55.20\00:22:59.37
We asked a few people
how they planned for shopping
00:22:59.41\00:23:02.61
and I want you to hear some
00:23:02.64\00:23:04.41
of what was said in our outing.
00:23:04.45\00:23:10.42
I like to plan
of course, always,
00:23:10.45\00:23:12.82
but there are times when,
you know, purchases weren't
00:23:12.85\00:23:17.43
necessarily planned, you now.
00:23:17.46\00:23:19.26
A little of both.
00:23:23.37\00:23:25.37
Sometimes if I
have some extra cash,
00:23:25.40\00:23:26.80
if I've paid enough bills,
00:23:26.84\00:23:28.34
I know there have
some extra cash over.
00:23:28.37\00:23:30.11
I would say to myself, oh,
00:23:30.14\00:23:31.47
let's go ahead
and buy some stuff
00:23:31.51\00:23:33.11
because I have some extra money.
00:23:33.14\00:23:34.48
Sometimes, you know,
depending on the situation
00:23:34.51\00:23:36.61
I see something I wanted,
I'll go ahead and get it.
00:23:36.64\00:23:38.28
So it's a little bit of both.
00:23:38.31\00:23:39.65
Sometimes I plan it ahead,
00:23:39.68\00:23:41.15
another times
depending on what it is.
00:23:41.18\00:23:42.95
I don't, I don't do
a spontaneous spending
00:23:42.98\00:23:46.42
on big items, those
types of things I save, TV's,
00:23:46.45\00:23:49.32
play stations, cell phones,
all those different things.
00:23:49.36\00:23:51.93
But for small things like
clothes or little CDs or DVDs
00:23:51.96\00:23:57.20
or drives, that
can be impulsive.
00:23:57.23\00:23:59.53
I likes to over budget for
any event and then I just spend
00:23:59.57\00:24:03.64
all the money that
I plan for that event.
00:24:03.67\00:24:08.54
It's a wonderful situation
00:24:08.58\00:24:10.08
when you've
planned for something,
00:24:10.11\00:24:11.45
you have the funds
that purchase and use it
00:24:11.48\00:24:13.68
for the appropriate
thing that you planned it for.
00:24:13.72\00:24:16.42
There are not any
unexpected things that come up.
00:24:16.45\00:24:19.42
You can plan for
things and you know exactly
00:24:19.45\00:24:21.62
what has to happen.
00:24:21.66\00:24:22.99
When you're in
control, you are in control.
00:24:23.02\00:24:25.89
When Christ has your attention
and you know that you're doing
00:24:25.93\00:24:29.56
everything to support His
ministries, there are many
00:24:29.60\00:24:32.97
wonderful things that
can happen in your life.
00:24:33.00\00:24:36.00
As you heard here with
some of the individuals
00:24:36.04\00:24:38.14
that we talked to, they plan.
00:24:38.17\00:24:40.81
Sometimes you don't plan
00:24:40.84\00:24:42.18
and there's a
spontaneity that happens.
00:24:42.21\00:24:44.01
Hey, there are times
that I have to figure
00:24:44.05\00:24:47.42
a spontaneous
thing for my spouse.
00:24:47.45\00:24:49.98
You know, I have
cutback on taking my things
00:24:50.02\00:24:53.02
to the drycleaners
because she's fantastic
00:24:53.05\00:24:55.69
in taking caring
care of some of my shirts.
00:24:55.72\00:24:59.59
My shirts are really
nice and they feel comfortable
00:24:59.63\00:25:02.20
because she knows exactly
how much starch to put it
00:25:02.23\00:25:04.37
and what to do with the shirts,
00:25:04.40\00:25:06.43
but there is no
free service in life.
00:25:06.47\00:25:09.80
Oh, she will say, oh, I love you
00:25:09.84\00:25:11.41
so I'm gonna do
it on your behalf,
00:25:11.44\00:25:13.58
but I do pay it back.
00:25:13.61\00:25:14.94
So at times there's a
spontaneity with a rose here,
00:25:14.98\00:25:17.08
some flowers there,
and dinner outing here.
00:25:17.11\00:25:19.38
But it's a part of the
savings process and the planning
00:25:19.41\00:25:22.05
process on our behalf to take
care of her because I need her
00:25:22.08\00:25:26.25
attention and I want
her to love me long term.
00:25:26.29\00:25:28.42
So anyway, I just
thought I'd throw that in there.
00:25:28.46\00:25:30.16
Now we talked about a variety
of things over this time about
00:25:30.19\00:25:33.96
what we're dealing
with in holiday shopping,
00:25:34.00\00:25:36.33
how we should plan,
how we should approach
00:25:36.36\00:25:40.04
these times of the
year because they can get
00:25:40.07\00:25:42.37
very stressful,
but you can control
00:25:42.40\00:25:44.21
that stress by
handling the planning process.
00:25:44.24\00:25:48.54
What do we talk
about in reference to,
00:25:48.58\00:25:50.95
to taking care with
the planning process?
00:25:50.98\00:25:53.01
You should always
go back to square one,
00:25:53.05\00:25:55.42
assess, assess your debt.
00:25:55.45\00:25:57.32
Do you have debt? Go
in to creating a budget.
00:25:57.35\00:25:59.95
A budget will
layout where your debt is,
00:25:59.99\00:26:02.22
what expenses you
have, what income you have.
00:26:02.26\00:26:04.76
From there look at cutting the
extra spending that you have.
00:26:04.79\00:26:07.73
Cut the expenses as far as
you can and begin the process
00:26:07.76\00:26:10.80
of widening that margin
of the savings that you can
00:26:10.83\00:26:14.34
potentially put away and
begin the process of investing
00:26:14.37\00:26:17.24
and putting money
back into your charity,
00:26:17.27\00:26:20.38
into sharing the
gospel with the world.
00:26:20.41\00:26:23.28
And then of course,
if you do have the debt
00:26:23.31\00:26:25.65
and you able to save
a little bit of money,
00:26:25.68\00:26:27.88
you're able to now attack
that debt and wipe it out.
00:26:27.92\00:26:31.02
But understanding
that you have that budget,
00:26:31.05\00:26:33.12
now I can plan.
00:26:33.15\00:26:34.76
I can plan according
to what things I have.
00:26:34.79\00:26:37.26
I can live within my means now.
00:26:37.29\00:26:39.49
I can actually plan
for a future both financial
00:26:39.53\00:26:42.36
and other,
whether it's educational
00:26:42.40\00:26:44.57
or whatever the case may be
00:26:44.60\00:26:45.93
because I have
that as a priority.
00:26:45.97\00:26:50.07
I begin the process of
avoiding chaotic situations,
00:26:50.11\00:26:55.08
handling situations
that could be disastrous
00:26:55.11\00:26:57.25
in many other situations,
00:26:57.28\00:26:58.81
such as job loss, such as
health and disability issues
00:26:58.85\00:27:03.79
and it helps me to
prevent certain issues
00:27:03.82\00:27:06.76
such as bankruptcy,
homelessness, welfare
00:27:06.79\00:27:09.72
and even the cost of
dropping out of school.
00:27:09.76\00:27:12.33
We've talked about
many different things
00:27:12.36\00:27:14.20
over this past
half hour, 30 minutes.
00:27:14.23\00:27:17.27
What I'd like to
say to you now is this.
00:27:17.30\00:27:20.94
The Bible verse that we talked
about in James is a key verse.
00:27:20.97\00:27:24.37
The verse actually talks
about treating people as equals.
00:27:24.41\00:27:29.01
You're going to develop wealth.
00:27:29.04\00:27:30.98
You're going to
develop a context
00:27:31.01\00:27:33.58
of saving and investing.
00:27:33.62\00:27:35.72
You're going to show
that Christ has blessed you
00:27:35.75\00:27:37.99
with this type of wealth.
00:27:38.02\00:27:40.36
Now take that wealth and treat
people as a humble servant.
00:27:40.39\00:27:44.86
Treat-- you be that
servant and bless others
00:27:44.89\00:27:48.66
with the abundance that
God has blessed you with.
00:27:48.70\00:27:51.90
Read James 2:5-9,
realize that you can take it
00:27:51.93\00:27:56.87
to the bank and save.
00:27:56.91\00:27:58.91
God bless.
00:27:58.94\00:28:01.04