More Good $ense — January, 2009
The monthly e-publication from the Good $ense Ministry
In This Issue:Dear G$ Friends and Colleagues,
A strange thing is happening. As the daily financial news keeps getting worse, I find my self becoming more and more convinced of, and excited about, the good side of it all.
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"And we know that in all things God works for the good of those who love him, who have been called according to his purpose." - Romans 8:28
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News You Can Use New Credit Card Rules and Regs
Several long-awaited changes in credit card rules have been approved by the Federal Reserve and will go into effect in 2010. As reported by Consumer Reports, the changes include: new limits on credit card companies' ability to raise interest rates on money already borrowed, new restrictions on their ability to raise rates within the first year of an account, a prohibition on issuing late fees if credit card companies send bills less than 21 days before the payment due date, and more.
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Sign of the Times
As an indicator of how tough the automobile industry is right now, and how bad our overall economy is, Hyundai Motors is offering an unusual financing deal to anyone who buys or leases a new Hyundai in 2009. As reported by MSNBC, if people can't make their payments because of "a life-changing event," they can turn in the car within a year, get out of their loan or lease, and not suffer any black marks on their credit report. Those life-changing events include losing your job through no fault of their own, filing for bankruptcy while self-employed, and a few others.
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Trend Watch 2009
Yahoo Finance columnist Laura Rowley came up with an insightful list of five trends to watch in 2009. First, frugal is sexy. Think thrift store shopping and keeping cars well past 100,000 miles. Second, a downshift in reference groups. Suddenly, smart money managers are in and jet-setting celebrities are out. Third, tighter bonds among neighbors. It's about more than just swapping baby- or pet-sitting duties; it's about swapping job leads. Fourth, marketing to uncertainty. Think tying promotions to the economy as Hyundai is doing in letting people out of financing deals if they lose their job. And fifth, the death of trust. Think Bernard Madoff.
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The Paradox of Thrift
In a clear example of the financial paradox we live with in our consumer culture, a recent Wall Street Journal headline declared: "Hard-Hit Families Finally Start Saving, Aggravating Nation's Economic Woes." The article noted that while frugality is usually good for individuals and the economy, such is not the case during a recession. With an economy heavily dependent on "consumer" spending, when people start saving more it hurts the economy.
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Stewardship ministries tend to be behind-the-scenes ministries, providing confidential one-on-one counseling and periodic workshops. But our rocky economy has prompted some stewardship ministry leaders to step up their offerings. For example, Harvest Bible Chapel, a multi-site church in suburban Chicago, is planning two upcoming half-day "Hope and Help" conferences (click here) for its people.
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It is no surprise that the vast majority of U.S. adults believe the economy is in bad shape, but an AARP survey conducted in December 2008 highlighted the magnitude of the economy's impact on people age 45 or older. As the first graphic shows, more than half of such people are finding it difficult to pay for essential items such as food and medicine, and many are either cutting back on retirement plan contributions (36 percent) or taking early withdrawals on such money (17 percent). As this group looks to the future (second graphic), sizeable portions are concerned about their ability to pay their mortgage or rent and medical bills, and about one-third are worried about losing their job.
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Freed-Up Financial Living
This new Good $ense core curriculum is in plug-and-play DVD format; with teaching done in informal, conversational style by Dick Towner, John Tofilon, and Shannon Plate. Click HERE for more information and to order to order.
Money. Purpose. Joy
The new book, workbook, and small group discussion guide by our own Matt Bell are now available. click HERE to order.
Debt Reduction Workshop
Consider following up your Budget Course with the two hour Debt Reduction Workshop as additional help for those with serious debt problems. Watch for the new addition of this course on DVD due out next year.
Good $ense Counselor Training
This resource contains everything necessary to train a cadre of budget counselors/coaches including Leader's Guide, case study DVD's, forms and record systems, and counselor's manual. Click HERE for information and to order.
Spanish Edition of the Good $ense Budget Workshop
The tested and proven Budget Course including Leader's Guide, Participant Guide, PowerPoint and DVD sketches in Spanish. Click HERE for information and to order.
40 Day Spiritual Journey To a More Generous Life
This best selling 40 day devotional from Rev. Brian Kluth is now available at discounted rates to your ministry. Check it out HERE.
Pursuing Spiritual Transformation: GIVING
For those looking for a small group study to go beyond the Freed-Up or Money, Purpose, Joy resources, consider this seven-week study that deals with money, debt, a biblical lifestyle and developing a heart of compassion.
Speakers/Teachers
A limited number of trained individuals are available to lead your first Good $ense course. Contact the G$ Office @224-512-1833 for information.
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