Crown's Money Matters Online

America's debt: A growing force to be reckoned with

Howard Dayton — Tue, 9 Sep 2008 12:58:33 -0600

During the last 15 years of Larry Burkett's life, one of his primary concerns was the ever-growing national debt. As a Crown cofounder, and as one who had taught fiscal responsibility around the country in seminars and on the radio, Larry was understandably worried about the out-of-control spending he saw in Washington. There has been little focus on the national debt in the past several years, but an organization known as the Peter G. Peterson Foundation is working to bring the issue to the forefront again. The foundation is chaired by Peter G. Peterson, who became an instant billionaire in June when his Blackstone Group went public. He is now devoting $1 billion of his fortune to persuade leaders and citizens to confront issues like budget deficits, poor savings rates, and the growing national debt, which not only threatens Social Security and Medicare but our economy itself. Peterson is being assisted by David Walker, who was Comptroller General of the U.S. and head of the...

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'The Great Unwind' and what you can do about it

Fri, 29 Aug 2008 11:10:53 -0600

On March 19, 2008 a shocking headline appeared in an article posted on CBS's financial Web site, MarketWatch: "The Great Unwind Has Begun, Citigroup Warns. Avoid leveraged companies, countries and consumers, bank's strategists say." Robert Buckland and his colleagues on Citi's global strategy team wrote in a note to clients, "Easy money encouraged many to buy a bigger house, a bigger car or a bigger speculative position. But now, any behavior that relied upon continued access to easy money is being dramatically reassessed. Leveraged banks must lend less, leveraged consumers must consume less, leveraged companies must acquire or invest less, and leveraged speculators must speculate less." The shocking news is the source of this proclamation: one of the largest banks in the world, which makes its money by lending money! In other words, the lenders were alerting the borrowers to borrow less, referring to their view that we were in a period economists refer to as...

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Justifying our desire for life's 'cookies'

Sharon Jaynes — Wed, 20 Aug 2008 14:15:06 -0600

Mary Elizabeth was strolling down the cookie aisle with her three-year-old daughter, Sarah, riding comfortably in the shopping cart. Suddenly, Sarah spied a box of sugar cookies, coated with pink icing and decorated with multi-colored sprinkles. Her eyes brightened with enthusiasm as she put on her best cherub face. "Mommy," she said, pointing to her find on the shelf. "I want those cookies." "Sarah," replied her mom, "we don't need any cookies today. We have plenty at home. Maybe another time." Ten minutes later, as Mary Elizabeth passed through the checkout line, Sarah tried again. "Mommy, I need those cookies." "No, Sarah. You don't need those cookies. We have plenty at home and I'm not buying cookies today." Finally, as they entered the parking lot, Sarah gave it one last try. "Mommy, I think God wants me to have those cookies." Cissy, Sarah's grandmother, laughed when she told me this story. I...

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Emerging Generations

Christopher Case — Wed, 13 Aug 2008 16:25:33 -0600

I graduated from college with a dual degree in zoology and religion. What am I doing now with my life? Web programming and design. Was my college degree even worth it? Undoubtedly, yes. According to the numbers, a college education and advanced degrees are one of the best investments you can make with your money. The U.S. Census Bureau says that adults with advanced degrees earn four times more than those with less than a high school diploma. Workers 18 and older with a master's, professional, or doctorate degree earned an average of $82,320 in 2006, while those with less than a high school diploma earned $20,873. Workers with bachelor's degrees earned an average of $51,554 compared to the $28,684 per year earned by those with simply a high school degree. Over the course of a lifetime, these numbers measure up to about a million dollars more of earned income for college graduates. On average, every dollar that is put toward education translates into $34.85 earned income...

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Checking in on the tax rebate

Dr. Wescher — Fri, 8 Aug 2008 07:23:31 -0600

I recently received notice that my tax rebate check will be issued shortly. The $1,500 my family expects to receive is just a tiny portion of the over $100 billion stimulus package signed by President Bush in February with distribution beginning in April. Its objective is to prevent, or at least minimize the impact of, an economic recession. The stimulus plan is not designed to cause the economy to grow. That requires that the national savings rate rises. The goal of the rebate is to prevent negative dynamics in the economy from spinning out of control. For example, problems in financial markets can lead to fewer mortgages being available and thus fewer new houses being built. Lower income in the construction sector results in workers consuming less, which reduces earnings in other sectors. This spreads from sector to sector. Fears of job loss cause people to reduce consumption, which extends the process. You can plug virtually any of the negative recent economic...

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An adoption journey

Jim Henry — Tue, 29 Jul 2008 20:49:14 -0600

One couple's journey led to a new community of families called Tapestry, woven together to share God's blessing of adoption. PART 1: CHOSEN FAMILY For Michael and Amy Monroe, the adoption journey began with a pre-dawn phone call. Was this a dream? Or was the voice on the other end of the line really saying, "You don't know who I am, but I have a baby for you." The Dallas, Texas couple had struggled for a year with infertility before deciding against the usual medical options, instead moving ahead with the adoption process in April of 2000. "We realized very quickly that it was going to take a lot of intervention, and that was not what we wanted," says Amy. The couple decided to try an independent, private adoption. "We sent letters to 250 people, everyone we knew and our parents knew," recalls Amy. "About four months after our letters went out we received a phone call at about 5:45 in the morning." The stranger who called the Monroes...

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Housing a major issue for twentysomethings

Howard Dayton — Thu, 24 Jul 2008 22:33:26 -0600

An article in the June 16 issue of USA Today says that in the midst of the housing slump, real estate agents hope to increase sales by targeting 28-and-under buyers, also known as "Generation Y."1 To reach this group, the real estate industry is using different strategies, including agents in their 20s and the Internet sites Facebook and YouTube. People in Generation Y are considered good targets because they typically don't have houses they need to sell before they buy. However, many people in Generation Y are struggling financially and are in no shape to buy a house, as evidenced by the title of a May 17 article in the Washington Post: "Twentysomething, College-Educated and Moving Back In."2 The article says that according to 2006 Census figures, about 47 percent of women and 54 percent of men ages 18 to 24 live with their parents. When inflation is taken into consideration, members of Generation Y are not earning the same wages that their parents...

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Facing Our Real Crisis: Money But No Margin

Chuck Bentley — Tue, 22 Jul 2008 22:21:09 -0600

The level of economic concern in our nation is high. If we used the warning system devised by the Department of Homeland Security to give a ranking to our economic problems, I would rate us at Orange. I don't think I'll get much disagreement from anyone on that; only those who think we are at Red might disagree. The division comes regarding the solution: Some look to the government, some look to the Federal Reserve, others look to OPEC, but I think the real issues lie within us, not in our circumstances. Please allow me to share my perspective with you. In April I spoke to a large group at a vibrant church in Texas. It was a warm and friendly audience ranging from young to old. Everyone there was eager to learn God's financial principles. In one session, people were allowed to anonymously turn in their questions to me so I could answer them without embarrassing anyone in the group. The idea drew a high percentage of participation because they could ask their real questions....

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A biblical approach to career planning

Dividends — Fri, 18 Jul 2008 02:40:14 -0600

College's career/job placement services ranked among the best in the nation Ten years ago, Grove City College in Pennsylvania began using Crown's Career Direct™ assessment to help its students determine God's calling for their lives. Jim Thrasher, career services director at Grove City, says the school's decision to choose Career Direct was the result of extensive research for a biblically based assessment. And this year, Grove City's career/job placement services have been listed among the top 20 in the 2008 edition of the Best 366 Colleges rankings, published by the Princeton Review. Ranked 17th, Grove City is in good company with schools like the University of Notre Dame, Cornell University, and the University of Virginia. "We believe that each student has been created uniquely and specially by God," Thrasher says. "These students have certain gifts, talents, abilities, characteristics, passions, and interests. We really believe that's the foundation...

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Homemaker: an honorable vocation

Joanna James — Wed, 9 Jul 2008 04:54:22 -0600

A few years ago I became guardian for my parents. The court required me to take a training session. When the magistrate looked over the schedule of classes to see if day or evening would be more convenient for me, she asked, "Do you work?" I confidently gave the replay I have used for years. "Yes! I am just not gainfully employed." A wave of laughter drifted across the room. She smiled and knew what I meant. Many young women today might have felt comfortable in responding, "No, I am a full-time homemaker." The current mood of our society makes that decision much easier than when I became a full-time homemaker more than 40 years ago. I became a full-time homemaker when my husband and I adopted our first son in the 1960s. I was required to leave my job as a bank teller and become a stay-at-home mom. It was not called that then because the term had not yet been created. I settled into motherhood and homemaking with ease, but adapting to the...

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Let your life impact theworld through Crown ignite!

Thu, 3 Jul 2008 09:16:58 -0600

It's quite possible that saving lives and transforming far-away nations were not at the top of your list of things to do when you woke up this morning. Most of us believe our actions here have little or no connection to the rest of the world. Many times this is true, but one curious group of people is finding out that God can use them well beyond their expectations or capacity. For the last three years, people like you have been helping or encouraging the missions programs of their churches to be involved in a movement toward global sustainability. Crown ignite! is a tool enabling regular people to change their world, even beyond their current sphere of influence. For Bruce Sonnenfeld, it's the culmination of a three-year relationship. In 2005, Bruce and his wife, Toni, began sponsoring a Compassion child in the nation of Thailand. The couple were planning to attend the college graduation of their student, so the staff of Compassion International asked Bruce if he would be able...

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Work home... why not both?

Janet Drez — Fri, 27 Jun 2008 07:02:06 -0600

In 1987 I was working in a corporate job that I really enjoyed, when I discovered I was pregnant. My husband was in ministry and our finances were tight. I thought, "No problem! After my leave of absence from work, I'll find a good daycare for our baby and go right back to work." But, after nine months of pregnancy, after 12 hours of labor, when the doctor handed me this beautiful angel, something happened inside. I thought, "Uh oh! Big problem!" During my three-month leave I prayed and I cried and I prayed. "God, do I work? Or stay home? Work? Stay home?" One morning in the quietness of my heart, the answer came. "Why not both?" Prior to the birth of my daughter, I had never considered owning a business. I studied English Literature in college. I was a successful office manager and leasing agent. Business owner was not on my list of things I wanted to be when I grew up. But, even at a time when home-based businesses were not as popular or...

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