The Christian & Finances Biblical Principles for Money Management  ABC District All Church Workers’ Conference Radisson Hotel South, Edmonton, AB Oct 18-20, 2010 Sessions: Wed Oct 20, 1:30 - 2:50 PM Wed Oct 20, 3:00 - 4:30 PM 1

Financial Freedom Team – Who are we?

 Al Feth, Gift Coordinator Lutheran Foundation Canada, Kitchener, ON  Rev Mark Danielson, Pastor, Trinity Lutheran Church, Fisherville, ON  Brian Wonnick, retired Gift Coordinator, Lutheran Foundation Canada, Regina, SK  Brian Lewis, retired financial planner, Williams Lake, BC  Kurt Robinson, Business Mgr, ABC District, Edmonton, AB 2

What we Saw in the 2008 Financial Storm  Lack of critical thinking, worst case scenario planning  Easy credit  I want it now  Confusion over needs & wants  Rising education debt  Expecting home values to keep on rising 3

What We Saw in the 2008 Financial Storm, con’t  Couples, both working, good incomes, managing poorly  Soft Gov’t financial institution regulatory enforcement  Weakening of Gov’t financial institutions regulations  GREED 4

Emerging Trends to Deal With Root Causes     Ontario Dept of Education – Financial Literacy education “Till Debt Do Us Part” TV show June 30 Financial Post “Lack of financial literacy will lead to problems later” Regina LP May 6 “Mortgaging our future: a generation of debt”  Financial planners add cash flow management to their services 5

THE BURNING QUESTION  HOW DO WE SIEZE THIS OPPORTUNITY TO INCREASE FINANCIAL LITERACY AMONGST GOD’S PEOPLE?

6

Trends Within the Church  Financial sustainability, short & long term – challenging  What must we do to ensure that our children & grandchildren continue to financially support the spreading of the Gospel?

 Where do young people & young adults go to receive cash flow management training in the context of Biblical Stewardship?

 What is Christian Estate Planning?

 Make this training available to all, an outreach 7

Why We Came Together?

 To provide Biblically based training & education on cash flow management  To provide training & education on Christian Estate Planning  Where? – all LCC congregations & institutions throughout Canada  How? By a group of individuals experienced & committed to this approach 8

Our Core Resource  The Christian & Finances, by Rev Mark Danielson  Copyrighted 1990  Revisions 1994,97,99,2009 9

Table of Contents  Lesson 1: Financial Bondage/Freedom  Lesson 2: Receiving/Managing Money  Lesson 3: Budgeting. Who should budget? Obstacles to budgeting. A sample budget. Budgeting do’s & don’ts.

 Lesson 4: Living on a budget.Use/Misuse of Credit. Presuming on the Future, Borrowing, Co-signing, Credit Cards. 10

Table of Contents  Lesson 5: Living on a Budget, Part 2. Working Wives, Getting Value for your dollar, The Art of Sales Resistance, Spotting the con-artists, Budget Busters  Lesson 6: Giving Money – The Tithe Part 1 – Why do we give Part 2 – Who not to give to. Who to give to 11

Table of Contents  Selected Bibliography & other resources  Budget worksheets  Record Keeping  Misc, Debt Listing, Working Wives  John Doe’s Budget 12

Advance Preparation Review  Exhibit 1 – Monthly Income & Expenses - How many use something like this?

- What did you learn?

- What are you going to do to address deficiencies?

- Also available in XL spreadsheet 13

Advance Preparation, con’t  Exhibit 2 – Debt List - What did you learn?

14

Advance Preparation, con’t  Exhibit 3 - Balance Sheet – Net-Worth Statement  Also available in XL spreadsheet 15

Advance Preparation, con’t  Exhibit 4 – Wills & Estate Planning Check up How many here have a will completed? Why?

What is a Power of Attorney?

What is a Health care Directive?

What makes a will a Christian Will? 16

What Makes A Christian Will  Your Last Will & Testament  What is the Testament Portion?

 How do we do it?

17

Next Steps  Discussion on how to start these services in your congregation. Who’s providing this type of education?

How’s it going?  Services – Education/training on Cash Flow Management; Christian Estate planning  Plans to start these services  For whom? Confirmation. Youth. Entering work force. Pre-marital. Approaching retirement. Early to mid retirement. 18

Resources  See resource table - review  Leave your contact info & e resources will be forwarded to you  See contact sheet for service providers  Fees - $150 per session, plus expenses 19

Other Resources  Crown Financial Ministries www.crown.org

 Quicken www.quicken.ca

  Quick Tax www.quicktax.ca

Microsoft “Money”  Christian Preamble  Funeral Service Planning Guide  Living Will – Health Care Directive  Power of Attorney 20

Other resources  Books - “Finances & the Christian” Mark Danielson - “The Complete Guide for Young Couples” Burkett - “Financial Parenting” Burkett/Osborne - “Everyday is Saturday” Harvey & Harvey - “Generous Living” Ron Blue 21

Other questions & Comments  Thank you for your time today  We hope to see you include this service in your congregation.

 Please keep in touch & tell us how you are doing.

 Please contact us for help.

 Closing Prayer 22