Money Tips and Training
From the 2009 Living Water Financial Seminar

The following are the notes from the CLW Financial Seminar.

Speakers and Topics

Mark Anderson
Tithes & Offerings: Cornerstones of a Sound Financial Portfolio

Kari Anderson
Cash-Based Accounting Method

Marcia Lee
Thoughtful Shopping (With video of economic grocery shopping tips!)

Tom Lee
Debt-Free Living

Tithes and Offerings - Cornerstones of a Sound Financial Portfolio

by Pastor Mark Anderson

Reasons to Tithe (And why you’d be crazy not to!)

  • It’s a command. (Malachi 3:8)

  • Because we’re not thieves. (Malachi 3:8-10)

  • To test God (the only time we are supposed to test God) so we will get to know Him and that He’s faithful. (Malachi 3:10)

  • He promises to pour out blessings until there is “no more room” for them! (Malachi 3)

  • He will rebuke the devourer (Satan). No tithe: God allows Satan the right to take from us. (Malachi 3)

  • Jesus said to tithe. (Matthew 23:23)

  • We’re taught to tithe by precept and by example before, during, and after the Mosaic Law

    • Genesis 14 Wealthy Abraham
    • Genesis 28:22 Poor Jacob
    • 1 Corinthians 9:8 Principle in the Mosaic Law and after the Law was fulfilled

  • Provides for ministers, missions and church ministries.
    (See a list of ministries the Living Water supports here.)

  • Gateway to all spiritual and natural blessings. (Luke 16:10-12)

  • Teaches the “Fear of God.” (Deuteronomy 14:23)

Using the Cash-Based Accounting Method

by Kari Anderson

If keeping track of your spending is difficult, try using a cash-based system:

Step One: Determine your expenses.Examples:
  • Tithe: 10%
  • Second Tithe: 10% (Some people set aside a “second tithe,” based on Deuteronomy 14:22-29)
  • Fund for giving to the poor: 3%
  • Taxes
  • Insurance
  • House Payment
  • Car Payment
  • Electric
  • Gas
  • Food
  • Phone, Internet, Cable, etc.
  • Savings
  • Allowances for kids
  • Special Projects:
    • Braces for a child
    • New car or car repairs
    • Paying off a debt
Step Two: Calculate.
  • Total your expenses for one whole year.
  • Divide by the number of paychecks you get in a year.
  • This is the amount you need to set aside from each paycheck to cover your expenses.
  • When you deposit your paycheck, take that amount in cash and set it aside in a safe place.
  • Deposit remainder of paycheck into savings.

You now have a simple method of making sure you’re setting aside the amount you need for your expenses. This ensures that you don’t overspend and you will always have enough to cover your expenses.


Thoughtful Shopping

by Marcia Lee

Multiple Choice Title:






I thought to divide this into two parts: the theoretical and the practical, theoretical being what you think, and practical being what you do.  But I think it is all practical.  You must first know the truth, then that truth will set you free to do it. (John 8:32) 

Sometimes we have to get past the feelings and even the facts, to see the truth.  You might feel financially overwhelmed or defeated, and like you will never be able to get out of debt, get ahead enough to save or give, or pay all your bills on time with money left over.  The facts may even seem to prove all of the above, but what is the deeper truth that will set us free?

How do I find myself thinking about myself or my family, financially?  

  1. Poverty? Psalm 68:19 (NKJV) Blessed be the Lord, Who daily loads us with benefits, the God of our salvation!

  2. In want? Philippians 4:19 (NAS) And my God will supply all your needs according to His riches in glory in Christ Jesus

  3. Never have enough to give? 2 Corinthians 9:8 (NLT) And God will generously provide all you need. Then you will always have everything you need and plenty left over to share with others.

  4. Always wanting more? 1 Timothy 6:6-7 (NIV) But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it.

  5. Trusting only my paycheck?  Hebrews 13:5 (NAS) Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, "I WILL NEVER DESERT YOU, NOR WILL I EVER FORSAKE YOU"

So, you think about these truths, and they give you a new perspective.  They empower you.  You feel blessed and provided for.  Ps 23 says, “The Lord is my shepherd, I shall not want….”  He is going to take care of us.  He will give us the strength and wisdom to live in this world.

Now that we are thinking rightly, how do we approach shopping?

  1. Discern real needs

  2. Wait (talk to your spouse, pray, listen, obey…and just plain wait) Some recommend waiting at least 24 hours before buying. Give God a chance to supply or change circumstances, or some other creative solution.

  3. Spend as cautiously at the beginning of the paycheck as at the end. 

  4. Ask yourself: Is there some other way to do it besides buying a new one? (make, remodel, grow your own? trade or barter services?)

  5. When you have to buy, buy the best quality you can afford to pay cash for [quality might mean leather instead of plastic, or fresh food instead of canned]  a) look at the ads for sales, b) shop for used items

  6. Ask the seller, “Is this your best price?”

  7. “Pay it forward”—you never know when and how it will come back to you Luke 6:38 (NAS) "Give, and it will be given to you. They will pour into your lap a good measure--pressed down, shaken together, and running over. For by your standard of measure it will be measured to you in return."

  8. Do good to all men Galatians 6:9-10 (NAS) Let us not lose heart in doing good, for in due time we will reap if we do not grow weary. So then, while we have opportunity, let us do good to all people, and especially to those who are of the household of the faith.


  1. Look at the grocery ads and plan your week’s (or however often you shop) menus around what is on sale.

  2. Make a list of what you need to buy at the store, including sale items and things you have run out of

  3. Do not shop hungry! It leads to impulse buying. Only buy what is on your list, or unexpectedly low priced items that fit into your budget.

  4. Each time you shop, (as you can afford it) buy a little more than what you actually need. With the extra, you can cook a double recipe, or leave it in storage. That way your pantry or refrigerator or freezer will always have something to eat in it, and you won’t be as tempted to eat out “because there’s nothing to eat at home.”

  5. Don’t throw away leftovers. (If you have a problem with eating the same thing more than once, you can change it a bit into something creatively different—then they become “planned-overs” instead of leftovers.)

  6. Develop a list of meals that are economical to prepare and you like, so when you aren’t inspired to create something new, you can just look at the list and make an old favorite.

  7. Consider nutrition as a priority: usually the closer to the way God made it, the more nutritious it is (rule of thumb for nutrition: 1 st-fresh, 2 nd-frozen, 3 rd- canned).

  8. Meatless meals can be cheaper, and nutritious too.

  9. Make it from scratch


See yourself as the steward of an abundant life.  Look for creative ways to enrich your life and the lives of others.   God …(will) equip you in every good thing to do His will. (Hebrews 13:20-21)

Debt-Free Living

by Tom Lee

God’s ideal is for you to be debt-free.

The rich rules over the poor, and the borrower becomes the lender’s slave.  Proverbs 22.7

The Lord will open for you His good storehouse…and you shall lend to many nations, but you shall not borrow.  Deuteronomy 28.12

Owe nothing to anyone except to love one another.  Romans 13.8

Build a Contingency Fund:

  1. Start by saving $1,000
  2. Then save one month living expenses
  3. Move to three months living expenses
  4. Make your goal to keep in the bank enough for six months living expenses

Your Home:

For most, to become debt-free on your home is a long-range project.

                *Get a payment (amortization) schedule for your loan

                *Check with lender to make sure prepayments are allowed

150,000 mortgage, 7.5% over 30 years

Pmt   Month       Payment         Interest        Principal       Balance


1       Jan            1,048.82        937.50         111.32        149,888.68

2       Feb           1,048.82        936.80         112.02        149.776.66     

3       Mar           1,048.82        936.10         112.72        149,663.94

4       Apr           1,048.42        935.40         113.42        149,550.52

5       May          1,048.42        934.69         114.13        149,436.39

6       June          1,048.42        933.98         114.84        149,321.55

        *Even a little extra paid on the principal each month can result in huge savings in interest over time

        *If you are sending a check, send separate checks for monthly payment and prepayment amounts (leaves you a paper trail of what you are doing); if paid electronically, save your monthly statements.

If possible, reduce the length of the mortgage.

150,000 mortgage, 7.5% over 30 years, monthly payment:  $1048; $227,577 paid in interest
150,000 mortgage, 7% over 15 years, monthly payment: $1348; $92,683 paid in interest


Most people never get out of car debt.

Ask Tom for the story of his big auto repair bill!

Escape the auto debt trap:

  • Keep your car at least 3 years longer than the loan.
  • Pay off the car loan.
  • After the last payment, keep making the payments to yourself.
  • Buy your next car with cash.  (Car payments to self plus trade in.)

Ask Tom for the cars he's owned: orange Beetle, green Olds, VW Rabbit, Dodge station wagon, burgundy Ford van, Dodge Grand Caravan....

Credit Cards:

Paying off credit cards:

  • Make the largest possible extra payments on the card with the lowest balance first, paying it off  as quickly as possible.
  • Then add what you were paying on the above card to your payment on the 2nd lowest balance card until it is paid off.
  • Repeat above process until all credit cards are paid off.


Financial counsel:  if you find yourself not being able to pay the entire balance at the end of the month, "plastic surgery" may be necessary. Any pair of scissors will do! (Or, if you enjoy cooking you can bake your cards until browned and crisp!)

Consider transferring balance to a low or no interest card.  (Check for no transfer fee, no annual fee, and that the low or no interest applies to transfer amount, not just to new purchases.)

Check every statement carefully to catch any fraudulent activity.



From the Church of the Living Water Financial Seminar
January 10th, 2009.

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