Stewardship Program
2012 Stewardship Program
This year along with discussions during Adult Forum and Temple Talks following worship, we thought we would also try to post some of the weekly presentations on the internet, using either the website and/or Facebook page. On our Facebook page, you'll be able to post YOUR thoughts in the Discussions feature on the left side of the page, the only little hitch is that you need a Facebook account to do this. If you don't and would like to chime in, you may e-mail your thoughts to the Webmaster who will do the posting for you. We will also try to video most of the presentations for those who could not attend all the programs.
Documents; Pledge Cards, Time & Talent Sheets and Simply Giving forms found on the Downloads Page
Overview of LWLC Stewardship Program by Rev. Bruce H. Davidson, Sept. 18, 2011
Article & Discussion: click here
"A Tresures Autobiography" by Don Barb, Sept. 25, 2011
Article & Discussion: click here
Stewardship Temple Talk by our guest Scott Curtis from Thrivent Financial for Lutherans, Oct. 2, 2011
Stewardship Temple Talk by Art Quade, Building Project Chairman, Oct. 9, 2011
Understanding Issues of Personal Finance
Adult Forum presentation by Tom Kull, Living Waters, Sunday October 9, 2011
I am going to touch the very tip of the topic called Personal Finance.
One definition of personal finance is a dynamic process that requires regular monitoring and revaluation. There is a five step process included in comments below.
Another definition is a one word definition – budgeting – again, more detailed comments follow.
The most common definition of Budgeting is an estimate, often itemized, of expected income and expense for a given period in the future.
A broader definition would be – estimating how best to use your time, non-financial and financial resources.
If you think about how to spend your free time, think about how you use your skills outside of your regular job. Also, if you think about how you spend money you are likely making decisions that relate to budgeting your time and your non-financial recourses as well.
A quick example, do I take my time to plant a garden so I do not have to buy vegetables for the summer or do I take that time to coach a youth softball game and spend money to buy vegetables.
Let’s take a look at the first document with what is listed but what could be added if we take the broader definition:
Personal Finance Definition
Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. Components of personal finance might include checking and savings accounts, credit cards and consumer loans, investments in the stock market, retirement plans, social security benefits, insurance policies, and income tax management.
A key component of personal finance is financial planning, a dynamic process that requires regular monitoring and reevaluation. In general, it has five steps:
1. Assessment: One's personal financial situation can be assessed by compiling simplified versions of financial balance sheets and income statements. A personal balance sheet lists the values of personal assets (e.g., car, house, clothes, stocks, bank account), along with personal liabilities (e.g., credit card debt, bank loan, mortgage). A personal income statement lists personal income and expenses.
Assessment of time
Assessment of talents
2. Setting goals: Two examples are "retire at age 65 with a personal net worth of $200,000" and "buy a house in 3 years paying a monthly mortgage servicing cost that is no more than 25% of my gross income". It is not uncommon to have several goals, some short term and some long term. Setting financial goals helps direct financial planning.
Goals for Time
Goals for Talents
3. Creating a plan: The financial plan details how to accomplish your goals. It could include, for example, reducing unnecessary expenses, increasing one's employment income, or investing in the stock market.
Plan for Time
Plan of Talents
4. Execution: Execution of one's personal financial plan often requires discipline and perseverance. Many people obtain assistance from professionals such as accountants, financial planners, investment advisers, and lawyers.
Execution of Time
Execution of Talents
5. Monitoring and reassessment: As time passes, one's personal financial plan must be monitored for possible adjustments or reassessments.
Monitoring and reassessment of Time
Monitoring and reassessment of Talents
Typical goals most adults have are paying off credit card and or student loan debt, retirement, college costs for children, medical expenses, and estate planning.
Wikipedia, the free encyclopedia © 2001-2006 Wikipedia Contributors (Disclaimer)
This article is licensed under the GNU Free Documentation License.
budg·et, [buhj-it] noun, adjective, verb, -et·ed, -et·ing.
1. An estimate, often itemized, of expected income and expense for a given period in the future.
2. A plan of operations based on such an estimate.
3. An itemized allotment of funds, time, etc., for a given period.
4. The total sum of money set aside or needed for a purpose: the construction budget.
5. A limited stock or supply of something: his budget of goodwill.
To many doing a budget is an overwhelming task and most of the time we focus solely on the number – what I/we earn needs to be equal to or more than what I we spend. When you love to work with numbers like I do, a money budget is fun to put together. When the thought of balancing a check book brings anxiety, doing a money budget is a task easily avoided.
If you are anxious about doing a budget – refer back to our first definition – it is an estimate which means that it is not a set of handcuffs. Any budget must have flexibility to deal with the unexpected. The flexibility is to change how one uses her/his time, non-financial resources and financial resources. An unexpected expenditure for car repairs might be offset by cutting back on expenses or finding some way to supplement income. An unexpected gift might mean taking time to share part of that gift. A drop in gas prices or a warmer winter may mean increasing savings for retirement, saving more for a child’s education or sharing some of the surplus.
Church budgets often break the rule of budgeting – anticipated income equaling anticipated expenditures. Faith that the ministry will grow in giving throughout the year has lead to budgets that have income from growing the membership.
Because there are rainy days individuals/families/and churches, it is a good practice to save at least 3 months of income and ideally one should have a year’s income in savings. Very aggressive goals when one is challenged to have income and expenses match each month. If your work has direct deposit of your pay check – would you miss $10 a month that went to a money market account (yes I know interest rates are low – other options are a topic for other discussion – but if you treat that savings the same as one of your “fun expenditures” you would be surprised how quickly the savings adds up. A quick way that I save for vacation is each evening I put all my change into a large bottle – when vacation comes, I count the money and take it to the bank – I can save over $200 a year doing this.
Budgeting
If you find yourself asking where to begin with learning proper finance, start with the definition of personal finance, budgeting. Why the definition of personal finance is budgeting we will outline in the following article, because truly there is no more important lesson as to what proper financial management entails, and what will most directly contribute to your success with your money.
Proper Budgeting is Personal Finance Mastery
There is no need to look beyond budgeting when beginning your journey towards personal finance mastery. Budgeting can be a scary prospect when you have not done so for a long time, the money tale told by your expenses and income can paint a poor picture. But whether you are a millionaire with investments, countless loans, mortgages and stock holdings, or an honest hardworking fellow just beginning your financial journey, budgeting is the key to continued success with your money.
Proper personal finance budgeting allows you to account for what monies you have coming in and what monies you have flowing out of your accounts. Mastery of your finances, no matter your level of income is a matter of using this information to make decisions that increase the money you have coming in each month, and decrease the flow of cash you have leaving your possession. If you choose to achieve this through additional investments, decreasing interest rates with consolidation loans or a job promotion the basics of personal finance budgeting remains the same.
Proper managing of one's debt, income and expenses is the soul of managing your money and that is why the definition of personal finance is budgeting. There is no need to get more complicated than this, with your credit cards, payday loans, investments and stock options, you will find yourself on a sound financial footing if you keep a detailed budget, follow your money, and ensure that you spend less than you earn each and every month.
To properly budget your personal finances you simply add up your sources of income, account for every penny that you have flowing to you each month, and track every expense. I am not concerned with the exact system you employ as long as you are detailed and know how your money is flowing. Track your loans, and if you have bad credit lenders, know how much you are spending in interest. Track your credit cards and what amount of your payments applies to principle and what cash goes towards interest. Make knowing your finances your business and when you have an accurate picture of the flow of your money, then work to improve your finances.
Most mistakes of personal finance are made because honest, hardworking people have an unclear, or foggy idea of how their money is spent from month to month. With a little attention to the details of your cash flow you will find that there are countless ways to save additional money, and increase your income. Keep a focus on the basics of personal finance and never forget that the definition of personal finance is budgeting. You too can start making a profit today.
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With a focus on Money, a good practice is some type of worksheet – see the examples from Thriven Financial for Lutherans. (Copies of this material is available at church)
I love working with numbers. In the early years of our marriage, Maggie and I wanted to track everything we spent. Now this is the day before personal computers so I tracked everything by hand. Today, excel or something like or personal finance programs like Quicken make it very easy to track savings, income and expenditures.
Our electronic or wall calendar is how we track how we spend our time at work and at home. That is the tool that we use when we want to change how we spend our time.
I am not aware of a tool for telling us how to use our talents but we sure have talents to use. Sometimes we underestimate the talents we have. Be bold and volunteer (but make sure it ties into your managing your time)
Temple Talk by Chris Kosmac - October 16, 2011
Six years ago this month, with Terry standing by my side for support, I announced to this congregation that I had breast cancer. Terry had done my ultrasound and was a huge comfort and support for me during my diagnosis and answering my countless questions.
From the moment I made my announcement, I felt supported and embraced and loved. For the next year or so, I came to church for purely selfish reasons. I came for the hugs, and the comments that my wig looked so real, and the compliments of how well I looked or how strong I was. People visited me, cooked for my family and prayed for me. The love and support I got each Sunday morning renewed my strength to continue my battle. My doctors cured my body while the people here fed my spirit. To me that’s what LW means…the faith here was strong enough to carry me, until I was strong enough to have my own again.
My experience taught me that there are times you need to be fed and there are times when you can feed others. I used to panic whenever someone told me they were facing a crisis. I never knew what to say. The day that Amy called me panicked about the lump she had found, I found myself wanting to panic right along with her, but faith simply took over. I don’t even remember the words I said, but she has told me it was a great help just to talk to me and hear my reassurance that she could face this challenge and she would be surrounded by great people who would help and support her each step of the way. When you are going through cancer it is a great gift to hear others tell you they survived.
Very few of us can be here every Sunday, but we come back from other places to this center and share our experiences. Stewardship is more than you time and your money, it’s also about your thoughtfulness and willingness to share your experiences and your faith. We share ideas from other churches by bringing back a bulletin, or using their ideas for an Advent craft, or a recipe for Christmas cookies. We hear of family members in the military and send them letters of support and care packages because we know the experience of being away from family. We share our ability of yard work, cleaning, teaching Sunday school, playing an instrument or serving on a committee because we’ve experienced how a small task can be a huge help. We offer to listen to someone who is going through a difficult time because we know how much it meant when we felt listened to. We pray for people we will never meet because we know how much comfort someone’s prayers brought us. We share the peace and never know how much that hand shake or hug may have just fed the soul of another member.
Stewardship Temple Talk by Trystan Chilocat - October 23, 2011
Stewardship Pledge Sunday - Explanation of Pledge Cards by Don Barb - October 23, 2011
Stewardship Pledge Sunday - Explanation of Time & Talent Sheets by Carla Ruggieri - October 23, 2011
