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Money
Quotes
- I have made many millions, but they have brought me no happiness—John W. Rockefeller.
- The care of $200,000,000 is enough to kill anyone. There is no pleasure in it—W. H. Vanderbilt.
- I am the most miserable man on earth—John Jacob Astor.
- I was happier when doing a mechanic’s job—Henry Ford.
- Millionaires seldom smile—Andrew Carnegie.
- Whoever says money can’t buy happiness doesn’t know where to shop. - Donald Trump, January 9, 1989, U.S. News and World Report
- Measure wealth not by the things you have, but by the things you have for which you would not take money.
- The average charitable giving in the United States is 1.7 percent of adjusted gross income. The average among Christians is 2.5 percent. - Ron Blue, quoted in Discipleship Journal, Issue 53, 1989, p. 20
- In the United States in 1950, 10 percent of all income was spent for luxuries ($50 billion). By 1980, 30 percent of all income went to luxuries ($350 billion).
- The real measure of our wealth is how much we’d be worth if we lost all our money. - J. H. Jowett
- If you had your life to live over again—you’d need more money. - Construction Digest
- According to a Gallup survey, almost half the total charitable contributions in the US come from households with incomes of less than $30,000. - Reported in The Other Side, quoted in Discipleship Journal, Issue 53, 1989, p. 20.
- According to Social Security records, 85 out of 100 Americans have less than $250 when they reach age 65. - Reported in Master Your Money, Ron Blue
- Almost half of Americans report having less than $5,000 in savings and investments, including 1 out of 10 who have none at all. Significantly, more than one-fourth of Americans did not save or invest any of their income in the past year. - Dr. Seymour Lieberman, in Homemade, January, 1985
- There are two ways in which a Christian may view his money—”How much of my money shall I use for God?” or “How much of God’s money shall I use for myself?” - W. Graham Scroggie
- Money is s lousy means of keeping score.
- The futility of riches is stated very plainly in two places: The Bible and the Income Tax form.
- Billing’s Law: Live within your income even if you have to borrow to do so. - Official Rules, p. 14
- When the Fellow says it’s not the money but the principle of the thing, it’s the money.
- Percentage of all paper money in the U.S. that contains traces of cocaine: 97% - Source: What Counts: The Complete Harper’s Index, edited by Charis Conn
- Every time you lend money to a friend you damage his memory.
- Someone asked Willie Sutton, the notorious bank robber why he robbed so many banks. “Because,” replied Sutton, “That’s where the money is.”
- Every person in the U.S.A. today has an average of $12,000 of debt. - Rick Beggs, Ronald Blue & Co., 1997
- Before borrowing money from a friend, decide which you need more. - Addison H. Hallock
- When a person with experience meets a person with money, the person with experience will get the money. And the person with the money will get experience. - Leonard Lauder, president of Estee Lauder
- Research indicates that most households tend to spend 10 percent more than their income, no matter what the income level.
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Top 10 Financial Stresses in Family Life
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Percentage of families experiencing stress |
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1. Money for food, clothing and energy |
45% |
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2. Purchase of a car, or other major item |
43% |
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3. Taking out a loan |
31% |
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4. Children’s education |
29% |
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5. Problems with family income |
26% |
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6. Medical/dental expenses |
23% |
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7. Purchase or construction of a home |
16% |
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8. Bad investments |
16% |
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9. Overuse of credit cards |
15% |
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10. Starting a business |
10% |
Together Forever, Aid Association for Lutherans, Appleton, WI, 1997, p. 51
What Money Means to You
Rate each of the following statements:
1 = Strongly disagree
2 = Disagree
3 = Undecided
4 = Agree
5 = Strongly agree
1. It is important to me to maintain a lifestyle similar to or better than that of my peers.
2. In making a major purchase, an important consideration is what others will think of my choice.
3. Since money equals power, I am willing to work hard for money in order to have more power.
4. I really enjoy shopping and having nice things.
5. Saving money for a rainy day is an important principle to live by.
6. If I had a moderate amount of money to invest, I would be more likely to put it into multiple resources that are relatively safe than into one fairly risky source that has the potential to make a lot of money.
7. Being “flat broke” is one of the worst things that could happen to me.
8. Saving for retirement is an important financial goal for me.
9. If I suddenly came into a windfall of $1,000 for something I have always wanted to do or have.
10. Since “You can’t take it with you,” you might as well spend it.
11. Money can’t buy happiness, but it sure helps.
12. Few things in life give me greater pleasure than making a great buy.
13. I like/would like having my own business because I can/could control my own financial destiny.
14. I like being able to make decisions about how to spend the money I earn.
15. It bothers me to be dependent on someone else for money.
16. I feel uncomfortable if someone offers to “pick up the tab” because I feel indebted to them.
Now, add your scores for the four questions in each category. The higher your score, the stronger you identify with that approach.
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Category |
Questions |
Your Score |
Your Partner’s Score |
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Money as Status |
1-4 |
__________ |
_________ |
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Money as Security |
5-8 |
__________ |
_________ |
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Money as Enjoyment |
9-12 |
__________ |
_________ |
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Money as a Control over Life |
13-16 |
__________ |
_________ |
Interpretation of Scores
4-8 = Low
9-12 = Moderate
13-16 = High
17-20 = Very High
Understanding what it means:
- Money as status. People who identify with money as a status symbol are interested in money as power—as a means of keeping ahead of one’s peers.
- Money as security. People who use money as a means of security spend conservatively and focus on saving.
- Money as enjoyment. People who view money as a means to enjoyment get satisfaction from buying things for themselves and others.
- Money as control. People who see money as a source of control, use it to maintain control of their lives, and to remain independent from their partner or other family members.
Now, compare your scores with each other. The closer your scores in each category are, the easier it will be to meet mutual financial goals and needs. The further apart they are, the more negotiating and compromising you’ll have to do.
Reprinted by permission of Warner Books, Inc. of New York, New York, U.S.A. From The First Year of Marriage by Miriam Arond and Samuel L. Pauker, M.D., Copyright by Miriam Arond and Samuel Pauker. Quoted in Together Forever, Aid Association for Lutherans, Appleton, WI, 1997, pp. 46-57
Credit History
Loan Officer: “Based on your credit history, it seems the only kind of loan you qualify for is an auto loan.”
Customer: “You mean money to buy a car?”
Loan Officer: “I mean money you lend yourself.”
J.C. Duffy, Universal Press Syndicate, quoted in Readers Digest, May 1996, p. 67.
Early Withdrawal
A man stopped by his bank to cash a check. Just as he got into the lobby, another man with a large bag came running past him, apparently heading for the exit. Then the bank security guard came dashing by, followed by several bank employees. The security guard tackled the man with the bag, handcuffed him and hauled him back into the bank.
The man who had gone in to cash his check was shaking like a leaf. “I’ve actually seem my first robbery,” he said to himself. As he approached the teller’s window he couldn’t resist finding out more about what he had just witnessed. “Was that really a robbery?” he queried.
“Oh, no, sir,” the teller replied calmly. “That was only our substantial penalty for early withdrawal.”
Contributed by Ed Waren
Bridegroom
Prospective father-in-law to daughter’s suitor: “How much money do you have in the bank?”
Young man: “I don’t know. I haven’t shaken it lately.”
Source unknown
Several Companies After Me
An employee asked for a raise, telling his boss that several companies were after him.
When asked which ones, he told his employer, “There’s the electric company, the phone company and the gas company.”
Source unknown
Mystery Novelist
Sister Carol Anne O’Marie is a nun in Oakland, California, who writes mystery novels about an elderly nun playing detective. According to Leigh Weiners of the San Jose Mercury, Sister O’Marie was once approached by a Hollywood company to turn her novels into a television series.
She was told that it would help dramatically if the central character were younger, had a drinking problem, and perhaps had an illicit love affair before she donned the habit. When the author declined to contemplate such changes, the television producer tried the ultimate argument:
“You’re turning down a chance, Sister, to make a lot of money.”
“What would I do with it?” replied the nun, who had taken a vow of poverty, “I’m not going to live in a nicer convent.”
Peter Hay, Canned Laughter, Oxford University Press, Bits & Pieces, May 25, 1995, pp. 22-23
Resource
- The Integrity Crisis, W. Wiersbe, Nelson, 1988, pp. 104ff
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Misers
John G. Wendel and his sisters were some of the most miserly people of all time. Although they had received a huge inheritance from their parents, they spent very little of it and did all they could to keep their wealth for themselves.
John was able to influence five of his six sisters never to marry, and they lived in the same house in New York City for 50 years. When the last sister died in 1931, her estate was valued at more than $100 million. Her only dress was one that she had made herself, and she had worn it for 25 years.
The Wendels had such a compulsion to hold on to their possessions that they lived like paupers. Even worse, they were like the kind of person Jesus referred to “who lays up treasure for himself, and is not rich toward God” (Luke 12:21).
Daily Walk, June 2, 1993
Money Matters
Godfrey Davis, who wrote a biography about the Duke of Willington, said, “I found an old account ledger that showed how the Duke spent his money. It was a far better clue to what he thought was really important than the reading of his letters or speeches.”
How we handle money reveals much about the depth of our commitment to Christ. That’s why Jesus often talked about money. One-sixth of the gospels, including one out of every three parables, touches on stewardship. Jesus wasn’t a fundraiser. He dealt with money matters because money matters. For some of us, though, it matters too much.
Our Daily Bread, August 26, 1993
Money Can Be Hazardous To Your Health
Money can be hazardous to your health. Two medical researchers at the University of Louisville have been looking into the question and have found that “13%” of the coins and 42% of the paper money carry disease-producing organisms.” Small denomination coins and bills are more dangerous because of their rapid turnover.
Source unknown
Young Families In Debt
Spending habits of young married couples with children (both spouses 18 to 25): Average after-tax income, $19,783. Average annual spending, $21,401.
Family Economics Review, quoted in U.S.A. Today, May 20, 1991, p. D1 (they are spending around 8% more than they make.)
Bark Worse Than Bite
What’s the most outrageous thing you would do for $10,000 cash? That’s the question posed recently by Chicago radio station WKOX, which attracted responses from more than 6,000 full-tilt crazies.
The eventual winner: Jay Gwaltney of Zionsville, Indiana, who consumed an 11-foot birch sapling—leaves, roots, bark and all. For the event, he donned a tux and dined at a table set elegantly with china, sterling, candles and a rose vase.
Armed with pruning sheers, the Indiana State University sophomore began chomping from the top of the tree and worked his way, branch by branch, to the roots. His only condiment: French dressing for the massive birch-leaf salad.
The culinary feat took 18 hours over a period of three days. When it was all over, Gwaltney complained of an upset stomach. Evidently the bark was worse than his bite.
Campus Life, December 1980, p. 19
Learned How To Make Money, But Not Live
In 1928 a group of the world’s most successful financiers met at the Edgewater Beach Hotel in Chicago. The following were present: The president of the largest utility company, The greatest wheat speculator, The president of the New York Stock Exchange, A member of the President’s Cabinet, The greatest “bear” in Wall Street, The president of the Bank of International Settlements, The head of the world’s greatest monopoly. Collectively, these tycoons controlled more wealth than there was in the U.S. Treasury, and for years newspapers and magazines had been printing their success stories and urging the youth of the nation to follow their examples.
Twenty-five years later, this is what had happened to these men. The president of the largest independent steel company, Charles Schwab, lived on borrowed money the last five years of his life and died broke. The greatest wheat speculator, Arthur Cutten, died abroad, insolvent. The president of the New York Stock Exchange, Richard Whitney, served a term in Sing Sing Prison. The member of the President’s Cabinet, Albert Fall, was pardoned from prison so he could die at home. The greatest “bear” in Wall Street, Jesse Livermore, committed suicide. The president of the Bank of International Settlements, Leon Fraser, committed suicide. The head of the world’s greatest monopoly, Ivar Drueger, committed suicide. All of these men had learned how to make money, but not one of them had learned how to live.
Source unknown
Be Content
He that is down needs fear no fall,
He that is low, no pride;
He that is humble ever shall
Have God to be his guide.
I am content with what I have,
Little be it or much;
And, Lord, contentment still I crave,
Because Thou savest such.
Fullness to such a burden is
That go on pilgrimage;
Here little, and hereafter bliss,
Is best from age to age.
John Bunyan
How Rich Is Rich?
According to a survey of people who ought to know, the answer is $1 million to $5 million in assets. Investment managers Neuberger & Bergman sponsored the survey of people who stand to give or receive inheritances (median household assets: $500,000). Paradoxically, 55% of those whose assets ranged from $1 million to $5 million don’t consider themselves wealthy.
USA Today, 11-11-91, D1
Easy Get-Rich Scheme
Albert J. Lowry set out to prove that it was easy to get rich quick in real estate with no money down—and he did just that. Not surprisingly, his 1980 book, How You Can Become Financially Independent by Investing in Real Estate, was a bestseller. In a May 1981 cover story, Money magazine estimated Lowry’s net worth at $30 million and called him a “real-estate wizard.”
But something went wrong, and in October 1985 the Success development Institute, which promoted Lowry’s theories, collapsed with $2.5 million in debts. In June of 1987 it was reported that Lowry’s assets were being liquidated in Los Angeles under Chapter 7 of the federal bankruptcy code.
Today in the Word, November 22, 1991
Money Comes Between Men and God
“Money often comes between men and God. Someone has said that you can take two small ten-cent pieces, just two dimes, and shut out the view of a panoramic landscape. Go to the mountains and just hold two coins closely in front of your eyes—the mountains are still there, but you cannot see them at all because there is a dime shutting off the vision in each eye.”
It doesn’t take large quantities of money to come between us and God; just a little, placed in the wrong position, will effectively obscure our view.
- Cedric Gowler
I Talk Back To The Devil, by A. W. Tozer
Compound Interest
The rich get richer and the poor get poorer—and it seems that compound interest would virtually guarantee it! Not so, according to investment counselor David Dreman. Writing in Forbes magazine, Dreman noted that most large fortunes diminish and sometimes disappear in only two or three generations. He observed, “Why most nest eggs dissipate over time is a major problem...”
Today in the Word, MBI, April, 1990, p. 9
Money Will Buy…
a bed but not sleep;
books but not brains;
food but not appetite;
finery but not beauty;
a house but not a home;
medicine but not health;
luxuries but not culture;
amusements but not happiness;
religion but not salvation;
a passport to everywhere but heaven.
The Voice In the Wilderness, quoted in Discipleship Journal, Issue 53, 1989, p. 21
How Americans Spend Their Income
According to the Bureau of Labor Statistics, Americans spend their incomes as follows:
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23% |
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21% |
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15% |
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8% |
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7% |
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5% |
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5% |
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5% |
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3% |
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1% |
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7% |
Reported in First, quoted in Discipleship Journal, Issue 53, 1989, p. 21
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