Fullfilment – Crown Financial Ministries New Zealand

Financial advice for life-long singles

Peter Crawford — Thu, 15 Jun 2023 04:18:18 +0000

The Census by Statistics New Zealand in 2023 identified that 23% of households in New Zealand consisted of one-person. People aged 65 years and over accounted for nearly half of all single person households. The proportion of one-person households has been stable over the past five years, while the proportion of two-family households has been increasing. That’s likely to reflect the decline in housing affordability during that period.

Some singles delay marriage in hopes of getting their finances in order. Others have financial challenges as a result of divorce, death of their spouse, pregnancy outside of marriage, or frivolous lifestyles.

Life-long singles often miss the traditional milestones of buying a home, having children, and long-term financial planning. They must be extra cautious with their income and expenses while fully trusting God.

Financial considerations for life-long singles

Living on one income today in preparation for tomorrow requires wisdom. My advice to singles, young and old, is to learn how to steward money. Handling money from a Biblical point of view will help you to face the future without fear. The Bible suggests:

“Get all the advice and instruction you can, so you will be wise for the rest of your life..” (Proverbs 19:20 NLT)

Find trusted advisors who can help you to take a short- and long-term view of finances. Goals must be set, and these principles apply:
Work with joy
Give first
Save second
Spend wisely
Diversify your investments

Good housing decisions are key

Many single people are not able to buy a home due to their inability to qualify for a mortgage because they don’t have enough income to meet the mortgage payments by themselves. In 2018 39.5% of single person households were renting compared with 34.6% of all households. Housing tends to be the largest annual expense for single-person households. Downsizing or relocating can eliminate some of the financial stress.

Rising rents are a problem since they have been increasing in response to high house prices in recent years. However, they haven’t fallen over the past 15 months, even though house prices have fallen. That increase in housing cost relative to your total income means you may need to consider alternative housing options:

If you are living in a large home, it may be necessary to sell and move to a smaller home
Take on a boarder or flatmate. Your property rates, maintenance and heating costs are likely to be less in a smaller home.
If you have a good relationship with your children, there are now more options for adding an additional house on their section without needing to subdivide or adding a self-contained unit onto their existing house.
Co-owning a house with family or a friend is also possible, but seek good legal advice before proceeding with this.
Living near family is important, but there are large variations in the cost of living across New Zealand and also within the same city. Looking at other options may reduce your financial stress.

Prepare for economic turbulence

Inflation and the economic recession are concerns for all of us, single or married. We do not know what the future holds, but we know that economic conditions are always fluctuating. Abiding by Biblical financial principles and making wise choices can cushion the fallout we may experience in the coming months.

In addition, variable expenses should always be closely analysed. Look back over credit card and bank receipts to see how much is being spent on groceries, transport, utilities, and entertainment. Seek discounts, eliminate waste, and make some cost-saving sacrifices. Many people need to find creative ways to reduce their spending. Recording all spending for at least 30 days will help you see where your dollars go. We are facing uncertain economic times, so we need to be extra savvy. Frugality does not mean misery. It can provide freedom!

Financially Helping Your Adult Children

Peter Crawford — Tue, 11 Apr 2023 16:40:40 +0000

It is never too late for parents to begin teaching their children about finances, particularly God’s principles of handling money.

If parents find that their grown children are having financial difficulties, this may be a good opportunity to help them get good counsel. Financially helping your adult children should be contingent on them establishing a workable budget and seeking advice on how implement it.

Parents usually have the greatest motives for helping their children, but financial help sometimes may encourage them to be dependent on the parents rather than on God. If God is trying to teach the children discipline and parents step in, the children may have to go through it all over again.

There is nothing wrong with helping adult children if they are truly in need. If their income is adequate and it is being mismanaged they need to learn how to manage their finances more wisely.

Parents can have a major impact on the fortunes of their children by assisting them with the purchase of a home. Often times the children can make payments a mortgage loan requires, but they have difficulty meeting the down payment and the many costs involved with house purchase.

A way for parents to help their children purchase a home is to give them money toward the deposit. Most banks demand that this help be in the form of a gift, not a loan. Helping your children pay their mortgage off more quickly may save them thousands of dollars and is a great investment opportunity if parents have surplus funds available. Interest rates are higher if the purchaser has less than a 20% deposit.

Parents will however need wisdom and discernment. There is nothing unscriptural about helping adult children purchase homes, but parents have to weigh the personalities, abilities, and attitudes of their children to ensure that they do not spoil the children. It is optimal for every family to have a debt-free home; so, helping adult children purchase a home can be a great blessing to them if it enables them to become debt free more quickly.

It is important to be sure that they are not trying to control their children’s lives. If the adult child is a married daughter, parents should be careful not to usurp her husband’s authority. If stepping in will cause the son-in-law to feel that he is an inadequate provider, then parents may need to back away.

They key to helping our children financially is finding ways of helping them to become financially free, since budget stress can be a major factor in marriage breakdown. While caution is required, financial help now may be much better than a larger inheritance later. Plenty to think and pray about.

There is nothing wrong with helping adult children if they are truly in need. If their income is adequate and it is being mismanaged they need to learn how to manage their finances more wisely.

Being Content

Peter Crawford — Thu, 09 Aug 2018 20:58:10 +0000

A Household Income survey by Statistics New Zealand in 2012 showed that 14% of New Zealand households with an annual income of $156,000 or more, indicated that their income was only just enough to meet their everyday needs, and a further 5% of households said it was not enough.

“But godliness actually is a means of great gain, when accompanied by contentment”
(1 Timothy 6:6).

Contentment, contrary to popular opinion, is not being satisfied with what you have. It is knowing God’s plan for your life, having the conviction to live it, and believing that God’s peace is greater than the world’s problems.

We get trapped into a discontented life by adopting worldly goals. These goals always boil down to more…bigger…best. Scripture defines them as indulgence, greed, and pride. In our society it is not normal to “step down.” Once a certain level of income (or spending) has been attained, it is considered a failure to step down. Is the concept of conservation and moderation really a loser’s attitude? Not according to biblical standards.

God’s Plan for Contentment

Although many Scriptures teach about the dangers of material riches, they do not teach that poverty is the alternative. God wants us to understand that money is a tool to use in accomplishing His plan through us. To find true contentment, some basic guidelines must be established.

1 - Establish a reasonable living

Since there is no universal plan that is suitable for everyone, this must be a standard established among husband, wife, and God. Just having an abundance of wealth is not a sign of God’s blessings.

2 - Establish a habit of giving.

Every Christian family should be directly involved with the needs of another family. There are many Christian organisations that act as a funnel for such funds. If you can’t be personally involved, this is the best alternative.

3 - Establish priorities.

Many Christians are discontented, not because they aren’t doing well but because others are doing better. Too often we let the urgent things take priority over the important things.

4 - Develop a thankful attitude.

Thankfulness is a state of mind, not an accumulation of assets. Until we can truly thank God for what we have and be willing to accept that as God’s provision for our lives, contentment never will be possible.

5 - Reject a fearful spirit.

We can get trapped into hoarding or saving excessively because we fear the “What if?” of retirement, disability, unemployment, or economic collapse. Obviously, God wants us to consider these things and even plan for them, within reason. But it is a problem when fear dictates to the point

that giving to God’s work is hindered and worry becomes the norm rather than the exception.

In Conclusion

Finding contentment is the solution to reversing the growing debt levels in our society and the discontent with all that we have. Contentment does not mean complacency or living according to strict rules. Contentment instead requires a personal relationship with God and finding His plan for our lives.

How To Live A Fulfilled Life

Peter Crawford — Tue, 31 Jul 2018 21:12:23 +0000

We all want to live a fulfilled life, and seek to achieve it in different ways.

Many try to make lots of money, others want to be famous, some want to have political power, some just want to be left alone and have a quiet place to do their own thing. But all of these fall short of being truly fulfilling. Living a fulfilled life is not achieved through self-fulfilment.

Albert Schweitzer, the famous doctor said, “Do something for somebody every day for which you do not get paid.”

In Ephesians 4, Paul tells us that our fulfilment comes when we are prepared for “works of service”. That is how we attain to the whole measure of fullness of Christ.

So let me ask you, whom are you serving?

Are you serving your husband, your wife, your children, your boss, your family, your neighbour or others in your church? If so, don’t begrudge this as a burden. You are actually blessed. These are opportunities for you to grow and experience the joy and satisfaction of life. Jesus himself said that he did not come to be served but to serve. He fulfilled His purpose on earth in the same way. In fact, when asked who was the greatest among the disciples, Jesus made it clear that was the one who serves.

So today, thank God for all those you are called upon to serve. They are giving you the privilege of being filled to the full measure of Christ. Show appreciation for them. Thank God for them, and serve your heart out. In the end, you will experience true self-fulfilment and the rewards of a life well lived.

Fullfilment – Crown Financial Ministries New Zealand

Financial advice for life-long singles

Financial considerations for life-long singles

Good housing decisions are key

Prepare for economic turbulence

Filter

Financially Helping Your Adult Children

It is never too late for parents to begin teaching their children about finances, particularly God’s principles of handling money.

If parents find that their grown children are having financial difficulties, this may be a good opportunity to help them get good counsel. Financially helping your adult children should be contingent on them establishing a workable budget and seeking advice on how implement it.

There is nothing wrong with helping adult children if they are truly in need. If their income is adequate and it is being mismanaged they need to learn how to manage their finances more wisely.

Filter

Being Content

A Household Income survey by Statistics New Zealand in 2012 showed that 14% of New Zealand households with an annual income of $156,000 or more, indicated that their income was only just enough to meet their everyday needs, and a further 5% of households said it was not enough.

“But godliness actually is a means of great gain, when accompanied by contentment”
(1 Timothy 6:6).

God’s Plan for Contentment

1 - Establish a reasonable living

2 - Establish a habit of giving.

3 - Establish priorities.

4 - Develop a thankful attitude.

5 - Reject a fearful spirit.

In Conclusion

Filter

How To Live A Fulfilled Life

We all want to live a fulfilled life, and seek to achieve it in different ways.

Many try to make lots of money, others want to be famous, some want to have political power, some just want to be left alone and have a quiet place to do their own thing. But all of these fall short of being truly fulfilling. Living a fulfilled life is not achieved through self-fulfilment.

Albert Schweitzer, the famous doctor said, “Do something for somebody every day for which you do not get paid.”

In Ephesians 4, Paul tells us that our fulfilment comes when we are prepared for “works of service”. That is how we attain to the whole measure of fullness of Christ.

So let me ask you, whom are you serving?

Filter

Fullfilment – Crown Financial Ministries New Zealand

Financial advice for life-long singles

Financial considerations for life-long singles

Good housing decisions are key

Prepare for economic turbulence

Filter

Financially Helping Your Adult Children

It is never too late for parents to begin teaching their children about finances, particularly God’s principles of handling money.

If parents find that their grown children are having financial difficulties, this may be a good opportunity to help them get good counsel. Financially helping your adult children should be contingent on them establishing a workable budget and seeking advice on how implement it.

There is nothing wrong with helping adult children if they are truly in need. If their income is adequate and it is being mismanaged they need to learn how to manage their finances more wisely.

Filter

Being Content

A Household Income survey by Statistics New Zealand in 2012 showed that 14% of New Zealand households with an annual income of $156,000 or more, indicated that their income was only just enough to meet their everyday needs, and a further 5% of households said it was not enough.

“But godliness actually is a means of great gain, when accompanied by contentment” (1 Timothy 6:6).

God’s Plan for Contentment

1 - Establish a reasonable living

2 - Establish a habit of giving.

3 - Establish priorities.

4 - Develop a thankful attitude.

5 - Reject a fearful spirit.

In Conclusion

Filter

How To Live A Fulfilled Life

We all want to live a fulfilled life, and seek to achieve it in different ways.

Many try to make lots of money, others want to be famous, some want to have political power, some just want to be left alone and have a quiet place to do their own thing. But all of these fall short of being truly fulfilling. Living a fulfilled life is not achieved through self-fulfilment.

Albert Schweitzer, the famous doctor said, “Do something for somebody every day for which you do not get paid.”

In Ephesians 4, Paul tells us that our fulfilment comes when we are prepared for “works of service”. That is how we attain to the whole measure of fullness of Christ.

So let me ask you, whom are you serving?

Filter

“But godliness actually is a means of great gain, when accompanied by contentment”
(1 Timothy 6:6).