The Sin of Envy

Today's version of moneywise live this prerecorded tour phone lines are not a Once upon a time in America in the was considered bad form and looked down upon.

But today in our material society is almost considered a fibroblast advertisers spend billions convince you that you're not happy with your lot in life. But make no mistake, the Bible still calls India said we'll talk about that first today and we have some great questions lined up for you but don't call it today because we're prerecorded.

This is moneywise live where biblical studies today's financial decision. So let's start with the definition, this one from an Evangelical dictionary envy is the sin of jealousy over the blessings and achievements of others.

That's pretty straightforward and it tells us that the words envy and jealousy are interchangeable. Why then is envy the sin well.

First and foremost because God's word says so in several places. Most notably is the 10th commandment in Exodus 2017 you shall not covet your neighbor's house.

You shall not covet your neighbor's wife, or his male servant, or his female servant, or his ox, or his donkey, or anything that is your neighbor's.

And of course covet is another word for envy today.

Our neighbors don't have oxen or donkeys to covet, but we can still envy their new SUV or inground pool.

But like the sin of pride, envy also leads to many other sins in James four verses two and three, we find that you desire and do not have, so you murder.

You covet and cannot obtain, so you fight and quarrel. You do not have because you do not ask.

You ask and you do not receive because you ask wrongly, to spend it on your passions. You see there's a difference between envy in the proper motivation to better one's life for one that you're willing to work hard in your content with what the Lord provides, but with envy you feel entitled, and deprived you feel that someone namely God owes you something.

Envy is ugly and destructive.

James 316 tells us forward. Jealousy and selfish ambition exists there will be disorder and every vile practice. So let's look at some of those vile practices if you will envy rears its ugly head.

Very early in the Bible in Genesis 4 cane is jealous of his brother because God looked with favor on Abel's offering but not his.

In verse eight we read now king said to his brother Abel that let's go out to the field while they were in the field, Cain attacked his brother Abel and killed him. So envy was the cause of the very first murder. It was also envy that made Joseph's brothers feel justified in selling them into slavery.

In Genesis 37 in verses 23 and 24 we read so when Joseph came to his brothers date stripped him of his robe. The robe of many colors that he wore and they took him and threw him into a pit of course, Joseph's brothers would've killed him. Had Ruben not intervened. We also see the destructive power of envy into stories from David's life first, but when Saul became jealous of David's fame after he slew Goliath women saying David's praises first Samuel 18, eight and nine reads and Saul was very angry and this saying displeased.

He said they have ascribed to David 10,000s and to me, they have ascribed thousands and what more can he have, but the kingdom and so I David from that day on, having first become the victim of envy.

David later succumbed to it himself by coveting and taking another man's wife Bathsheba in second Samuel 11. Worse, he said. Her husband Uriah to certain death in battle to cover his sin in verse 15, David tells Joe absent Uriah in the forefront of the hardest fighting and then draw back from him that he may be struck down and die, envy or jealousy is a powerful emotion that we have to always be on guard against the Proverbs 27 for Warren's wrath is cruel.

Anger is overwhelming. But who can stand before jealousy.

So how do you know if envy has taken hold in your life. Well, one way would be to look at your finances are you living beyond your means running up credit card debt to finance a lifestyle that you really can't afford we used to say this was keeping up with the Joneses.

Now some people call it foam. Oh, which is an acronym for fear of missing out. You want what others have and you're willing to go into debt to get if you don't get it under control and learn to live on less than you make.

Well, you're headed for financial disaster. So here's what you can do first.

Pray that the Holy Spirit would give you content with what the Lord has provided in the second. If you need help setting up a budget and find ways to cut your spending. Sign up with one of our volunteer coaches. You can do that moneywise live.org just click connect RA coming up with some great questions lined up but Holter calls because we're prerecorded around Lester. This is moneywise live moneywise live on Rob West. This is where God's word intersects with your financial life along with us today.

Their team is taking some time off to his pre-ported so don't: today we too were live in the studio but we do have some great calls all lined up ready for you today.

I'm sure you'll enjoy them by delightful call from Judas you know so many of you listening to what he shared. I'm sure could find yourself in his shoes where you got caught up in the things of this world. It's so easy to happen to any of us and the next thing we know where in dad's and we don't have the ability to pay her bills and we realize what the Lord meant when he said you gotta choose is it God or Mammon.

And yet we each have to come to that place. As we talked off the air. He was encouraged about the change that he can make you reach out to Christian credit counselors.org in order to send him a copy of the stewardship Bible with all the money passages highlighted in green because we all need to be meditating on God's word. If were struggling with this area of finance.

You need to know God's heart related to money because it's completely different than the world and it will change your thinking it will renew your mind as a relates to how you view the things of this world and the material possessions and the money that the Lord entrusted to us, but will he put it under his Lordship, it changes everything, because now, money becomes a tool to accomplish God's purposes so Judas all the best to you my friend and I look forward to hearing the rest of the story when you call us back in the future. Tammy is in Illinois hi Tammy, how can we help you today because they really affecting my credit my credit being affected and wanting to get credit card and pay everything and make one know I'm not a big sale of that strategy.

So you said you have some credit card debt and then some other loans. One of those other loans for okay right and what is the interest rate on the personal loan 22 well well okay let's do an individual.

Okay, I haven't but that's that sky high sword and want to take care that no Tim, here's what I would do. I would tell you the same thing I told you this is that you know I would look to Christian credit counselors first which is a credit counseling program. Here's the way that works there and work with each of your creditors to determine close the accounts are closed, how much they can reduce the interest rate on these cards and loans and once they establish the new interest rates and get you on 101. Set monthly payment every month.

Then you'll build that writing your budget because that payment doesn't decrease over time and with the lower interest rate. You should be able to pay this off 80% faster. I don't like going out and taking new credit starting the balance transfer game that in and of itself will further reduce your score, and often it just results in you jumping from one card to the next, you having to pay usually 2 to 3% on the front end of the total balance every time you make one of these transfers and it would gotta solve the problem that got us here in the first place, which is my next point.

And that is if you're not living on a balanced budget.

We've got to really dial in your spending plan. You gotta know what your spending every month to get a plan to track it and control it. You gotta cut all discretionary spending. That's not absolutely necessary because the key to getting out from under this Tammy is to have some margin beyond what you do right now that you can be sending to all of these accounts so that we can get those balances paid off quickly and then once they're paid off. Let's redirect that money into savings, not additional lifestyle so that on over to Christian credit counselors.org tell them we sent you the last set you up on a budget will evaluate all of your debt. I think he'll get you going in the right direction.

May the Lord be with you as you navigate this book sexually along with this much more to come on moneywise live for God's word guides our financial decisions. You're listening to an encore presentation of moneywise live you can find out more information about the topics we are talking about when you visit our website moneywise live.org. Today's program is prerecorded, so keep that in mind. Working to pause for a brief break, but will be back in a moment with more moneywise live back to moneywise live on Rob West.

This is where God's word intersects with your financial life. So glad to have you along with us today. Their team is taking some time off today. This program is prerecorded, so don't: today we too were live in the studio but we do have some great calls all lined up ready for you today.

I'm sure you'll enjoy them. Let's head back to the phones in Illinois. Edwin, thank you for your call today.

How can help you. Hello Rob, thank my question is I want to try to start investing, but I got no clue how to start doubting all 401(k) and now investing to ensure yes well the starting place is to make sure that you've got some other financial priorities. Taking care of first. Edwin, let me just ask a couple questions. Are you living on a budget okay and do you have an emergency fund that would be an amount of money in savings that you could use if you had does something unexpected come out to left field that I have may be around 40, 45, and saving well okay yeah so I think you have a goal there.

Assuming you're not in retirement would be probably 3 to 6 months expenses and that a savings account so let's say you total up your monthly spending and you multiply that by three or four up to six and that would be the amount I want that in an online savings account, preferably where you're earning a little bit interest is protected but you can easily transferred over to your checking if you needed but it's not too accessible there and cutting your fund, your main funding account so you don't use it inadvertently. Anything beyond that, I would consider surplus and then I would look to see if you have any consumer debt you have any credit card debt, or other consumer debt and minimal that you made it around thousand.

Okay, what I would knock that out first with your savings right away and again I would go back to making sure that you address the issue that got to the 2000 that that's 2000 that you charge up during the month and then you pay it off in full. That's one thing, because those are then budgeted items and you got the money to pay off if that's a balance you're carrying of a couple grand is no reason for that. That's in a you know soon as you pay that off. That's a guaranteed return equal to the interest rate.

Let's say the interest rates on the lower ended 14% when you're not gonna find a 14% return in the stock market so it makes a lot of sense to pay that off, but I want to make sure that you've addressed any issues that cause that debt. Meaning overspending beyond your means and the only way to do that is to really dial into a spending plan and then have a process to track the flow of money in and out.

That's why we created the moneywise app so you could use the digital envelope system you could download that in your app store today, but once you've address that then I think it's you know a great idea to start thinking about saving for the future and if you have a 401(k) available at work at when I would start there.

You hopefully there's some matching there, and the goal would be over. Time to get that up to 10 to 15% of your take-home pay just kind of as a rule of thumb so that you got a good bit going on a tax-deferred basis into your 401(k) and then you would choose among the investment options in the plan, there's gonna be a set number of investment choices.

Mutual funds probably that you pick from. You could use one of the target date funds which should be very simple where you know you would basically select the fund that has the date that you would expect to retire, so it's a year and retire 20 years from now, you would pick the 2041 fund and that's gonna make sure that you are properly invested from a diversification and an allocation standpoint so that you got the lion share going to stocks in a very small amount going to bonds because you have plenty of time to be more aggressive and then as you get closer and closer retirement. It would get more more conservative or you could choose from among the various stock mutual funds in the plan and you may want to ask for some assistance from one of the representatives from the 401(k) administration company so that would be my best advice on how you get started and let me just confirm you do have a 401(k) available at work. I so that would be a salary deferral that comes out of your paycheck but you gotta build that in your spending plagues this is you do that you can get less money every month.

You know that you've got to be able to use for your expenses. If you have money left over from that you once you put the side the 3 to 6 months expenses. You said yet about 45,000 in savings an option for that.

Assuming it's money that's for the long term meaning for retirement. I would open a Roth IRA or OT H you can put in 6000 this year. If you have a if you're married, you could put in another 6000.

And if you're over 50, you guys could add a thousand to that. But that would give you a place to put some of this excess money that you want to grow for the future and I would look to the Schwab intelligent portfolios or betterment as a Robo advisor to get you started on that investing Schwab intelligent portfolios or betterment you want to open a Roth IRA make the contribution for the excess beyond the emergency fund and then you get that invested as well so I hope that get you started in the right direction. You still want to send you a copy of Austen priors book sound mind investing the handbook, and I think that'll give you some great insights as well on how you can manage money. God's way and invest for the future.

We appreciate your call today redhead next to Illinois. Tyler thank you for your patience. I can help you. I Tyler you with us.

Yes, so I knew guy just getting a credit card for some evident credit card.

What are some principles you think should guide by spending a little apprehensive because I don't want I going to get it all. Some people are sent out my credit score. Long-term.

So, as you say are sick at guiding yeah I love this Tyler that you're thinking about this on the front and because having a healthy respect for credit and the power of unsecured credit is really important, especially as you're starting out in your financial life.

Because if you take this ability to spend beyond your means and that's what a credit card allows you to do and you exercise that in and run up some debt with some expenses that you actually can't pay for year to start heading up debt mountain like to call attend. You know those bills will build up over time, you'll end up spending a lot in an interest so the absolute essential item for using credit is that you only use it for budgeted items, so you've gotta start with a spending plan. You gotta say okay what do I have to work with, and then you want to go take out any automatic deductions so you health insurance comes out of your paycheck and no other types of insurance any retirement contributions, and then what you have left. I want you to add in your giving right up front and whatever you want to be saving on a monthly basis. Let's say you're still building your emergency fund and then you want to live on the rest. Build your budget your spending every month based on what's left after those essential items come out and then with that credit card you only use that for things that are in the budget not for things you can afford that are unbudgeted that you say. Well pay that off, and over the next several months because invariably that just won't happen. And if you can discipline yourself to do that, Tyler, then you will actually be able to build your credit because you will be reported as an on-time payer every month to the credit reports and that's unessential key to building your credit.

Also, the fact you pay it off every month means you can keep your credit utilization at near zero. That's also to build your credit score.

So I think that's the next step for you is to build that spending plan and the moneywise app can help you do that. In fact, I love to give you six months of the pro subscription to our money was absent. You stay on the line will get your information get that right out to you folks if you'd like to check out the moneywise app it's in your app store to search for moneywise biblical finance. This is a reminder that were not live today but we do have lots of great information coming up and the rest of the program. So please stick around. This is our final segment of the broadcast. We previously reported, thank so much for being with us today and we hope you'll stick around and enjoy the rest of today's program back to moneywise live delighted to this today if you'd like to connect with one of our moneywise coaches they'd be happy to assist you. These are men and women who have been especially trained as volunteers and as a part of their ministry to walk alongside God's people to help you set up a spending plan. A debt repayment plan giving plan teach you a few of these principles we talk about here on moneywise live very practical.

You can do it all virtually over WebCams and the walk you through our process to actually begin to track your spending and get that spending plan in place perhaps for the very first time. It's our moneywise coaches. The only cost is will ask you to pay $25 for the digital workbook that goes along with it, but all the coaching and the subsequent meetings absolutely free. It's our ministry to you just had to our website moneywise live.org and click connect the coach. Sorry, let's head back to the phones. Barb is in Illinois and I understand you want to talk about your mortgage. How can I help you today on your mortgage right.

How much longer you can output. For example, like early 60s were still working it out and fight here. Now if we decide on the other day in the house forever make any difference whether or not I start down the practical know it really doesn't barb the only thing that would cause me to say. You may not want to do that would just be if there's other more pressing priorities you had high interest the consumer debt or you didn't have your emergency fund and therefore you don't have enough liquid capital for the unexpected. And so you would want to put that on a mortgage that's very illiquid, but apart from you, having a spending plan and doing some systematic giving and getting your debt consumer debt under control and having an emergency fund. Beyond that, and hopefully you're contriving something for the longer term to retirement.

Then if you have surplus. I love the idea of accelerating your mortgage payoff just one extra payment a year with you do that at one time or 1/12 every month will take a 30 year mortgage and shave. In most cases, about five years off of the mortgage just one payment a year or so getting extra going to principal is just less interest you're going to pay and even if you think you're going to sell this home in five years.

You're just going to end up saving the interest on that extra principal for five years and then secondly, having more equity to pull out of the home to roll into your next property so you can get that one hopefully paid off even quicker so there's no reason not to prepay the mortgage, assuming you're taking care of those other priorities, even if you plan to move in the next five years to did you follow that the currently I call that interest down the road anyway interest for the time being right into admin researching. We squeeze every penny I can to make such think it's good stewardship different than most mortgaged extra practical payment late payment after sunset you have any training really doesn't matter because here's the thing once that's credited to the principal. Then when the interest is calculated for the next. Would you be the next month. This can be calculated on a lesser amount because there is less principal outstanding. So I would just send it with your scheduled mortgage payment. However, your lender or mortgage servicer wants that cut to come in.

Just make sure that it's noted the way they wanted so that it does in fact go directly to principal and that shouldn't be difficult, but I would just send it with that schedule monthly payment and then as it's applied to the principal and that's a lesser balance that your next. Which is the next billing cycle. The next month. That's can be a lesser amount that the interest is charged against it and then back to your previous question, I would say yes, you're going to save the interest on the next five years while you're still in the home. But what's even more important than that, I think Barb is that when you sell it, you're going to get more equity out because you've got a lesser balance than you would if you just stayed on your current amortization schedule and I assume you're gonna buy another home and hopefully you put all that into the next home which is going to give you a smaller balance there that you will prepay and were just can get you out of having a mortgage. Whether it's a mortgage on this one of the next one even quicker and that's the goal to be completely debt-free. So just see it as prepaying toward your mortgage. That's eventually get to go to your next mortgage to keep that as low as possible and hope that helps cells that you're doing a lot of things right and I you really want to honor the Lord with your managing of your money or his money and you're doing a great job with thank you for your call to Austin, Texas, Regina, how can help you entered regular account with my credit union I don't have any auto payment I use my credit card every month payment yet but I paid a balance control and for my 401(k) at work, but only 3%. I have an additional 500 and I can say and just wondering what I should do it at 500 give an extra 500 a month from your paycheck to you not spending. Is that right now okay and do you already have the equivalent of at least three months worth of expenses and savings have more okay great yes.

So I probably freeze that and then take that 500 and either increase your giving or increase the amount going to that to retirement plan. I'd love for you to get that up to 10% ultimately 15% of your pay in at 3%. You still got a good bit of room there.

So if you have thought, you're paying your bills every month means you live in on a budget. You got your emergency fund. That's great. Let's try to boost that retirement savings over time and that $500 a month or 6000 year would be a great addition to those that retirement contribution.

So just tell them to increase the amount or taken out of your salary deferral and you'll be glad you did down the road. We appreciate your call today, Fort Payne, Alabama Elizabeth, how can I help you started every model home about five years to make your health problem a lot because our insurance changed and we didn't realize it a lot going on selling started in and were now at the point earlier about rate cave remodeling and of course now click practice is going and a lot of things have changed a lot of practice it and seller looking at her options and several people it held it taking a construction loan and just say that for now that we can go ahead and get it then, but then I can't get a healer HELOC loan said that we can get it over counting and that limit the loan. Sitting there and if we wanted to get email whenever we can date at its whale and I was looking at Ralph and we actually tell about 20 years on competently getting on 30 and we got our interest rate is at 5.25%. At this point Sally thinking if we could do a refi and get the money with the race and a lower interest rate than we could get out 15 years that would Five more years off our payment to get paint that five years faster and like a day to remodel its whale yes well I like this plan and I think you because your interest rate is where it is you're planning to do the remodel anyway and you have a good bit of margin. It sounds like in your budget because it's you telling me you can afford a 15 year mortgage with a larger balance because you pull money out for the remodel, which tells me you've got some room in the budget to absorb that. That all makes a lot of sense to me. I don't like the idea of you taking out the HELOC interest rates are to be headed higher. That's can have a variable rate associated with it, which means even if it's still pretty low.

When you pull the money it could end up being a good bit higher over time. So I think assuming you got a good credit score which I suspect you do, you could probably not could maybe even a couple points off that interest rate and then reduce your term. That all makes tons of sense with the remodel. It sounds like you're gonna stay put for a while longer to plan to be there 5 to 7 years.

I think this is a great plan.

Elizabeth going pull that money up and as soon as you're ready to start the remodel you got the funds available. There is a low fixed rate and you know if you can. You got surplus you know now or down the road you can always prepay that mortgage as quickly as you need to do. Seven. Make sense, well, you're on the right track in the year making some good decisions here, so I appreciate you checking with us and all the best to you as you all make those improvements in the house. I hope you will focus on forcing were about out of time. We covered a lot of ground today. Why thinking back to Judas's caller was just saying you know I got caught up in the things of this world. Crypto currency made some money and I felt like I have a lot of then I realized I was living way beyond my means. And now I got 80,000 dead and I want to do it God's way and you know were all there to some degree saying they know what we want to do it God's way. Don't let us get caught up in the culture and the comparison trap 12 guy go back to Scripture all the time you on this program. Thanks for being with us today moneywise live as a partnership between Moody radio and moneywise media.

I hope you come back and join us tomorrow. I'll be here for you that