A Financial Biography—Part 2
Teen Years–Young Adult
I know from my Scandinavian heritage (52%) that business is part of my legacy. Many of these Nordic peoples were merchants and were good at trade. Business is where my ancestors excelled. The balance of my heritage comes from the United Kingdom. The British were also good in finance and trade. God leads in many different ways during the journey of our lives. In this Part Two, and several future articles, I will explore how God has led my life, focusing on God's direction in personal finances.
Teen Years
Having a period of financial challenge at the beginning of my teen years taught me that circumstances can change quickly. Financial abundance is not assured. The only sure thing is that God can be trusted in all areas of our lives. My parents modeled this to my brother and I. During this time, when funds were tight for our family during the loan repayment, God was always put first.
My first summer employment started when I was 13 years old with a neighbor who was a contractor. The work was hot and tiring but enjoyable since my best friend also worked with me. I learned to get up early to leave for the jobsites and return early in the evening. I was now making a steady paycheck, so I had larger amounts of tithe and offerings to turn in at church.
By this time, the scarce family resources were a thing of the past, and the bank loan had been repaid. I learned that debt was not something to take lightly. My parents had invested in 18 rental units. My brother and I were the lawn service for many of these rental properties. We were not paid but bartered our services to pay our Seventh-day Adventist school tuition.
When I was 14, my parents decided to move our family from Southern California, USA, to northwest Arkansas, USA. This move was the worst thing that could ever happen to me in my teenage mind. All my friends were in California, and I knew nobody in Arkansas except my uncle, aunt, and two cousins.
After moving to Arkansas, I started working at a cabinet factory. My high school years were spent working year-round at the cabinet factory since I lived in the community and was available for work during school breaks and summer vacations. I opened my first checking account and learned how to balance a checkbook and not overdraft the account.
Since I was making a steady income, I paid for all my tuition and bought my clothes. During this time, I saved enough money and bought a motorcycle to ride to school and work. I paid for the gas and insurance on the motorcycle too. God was always put first when a paycheck was received.
During my high school years, my father read several books, including The Word on Finances, by author Larry Burkett, who had researched from Scripture all the texts for handling money, possessions, and personal finance. As a teen, I remember my parents talking about these books but did not pay much attention. I had more important things to think about, like sports and friends.
Since I had worked my high school years at the cabinet factory, when I went to college I immediately got a job at the cabinet factory near campus. I saved for my entrance fee and paid for tuition, room, and board. The college gave a cash discount if the whole semester was paid at registration, so having cash was a benefit. I praise God that I could pay each quarter and receive a cash discount. God was always put first when the paycheck was received. As I recall, my parents only had to pay $800 during my senior year so that I would receive my diploma at graduation.
I was a business and accounting major. I met another business student named Alma in the last year and a half of college. She would later become my wife.
Young Adult
I sent resumes to all the North American Division conferences, unions, and publishing houses. Since I had not heard back from any of them by graduation, I joined a team from college that was going to a place where there were no Seventh-day Adventists to give Bible studies for two months. The students were sent out by twos, and Alma was my Bible study partner for those months. By the end of the summer, we were engaged to be married.
I was invited to work at the Adventist Book Center in the Iowa-Missouri (USA) Conference as a business intern. Some conference office coworkers were concerned since I did not have a credit history and encouraged me to take out a loan to establish credit. I listened and took out a $500 loan. I started making monthly payments.
Now that I was alone and paying all my bills, I remembered my parent's conversations about what the Bible says about personal finance. Since I worked at a bookstore, I could read any book. I read all the books by Larry Burkett and learned about having a spending plan, saving, avoiding debt, and giving. My new understanding of the bondage involved in having debt made me sorry that I had listened to my coworkers. That was the last time that I had a consumer loan. I learned that I do not need a credit score if paying with cash.
After working for one year, I married my college sweetheart, and we settled in Missouri. Two months after getting married, we visited the Planned Giving & Trust Services office at the conference and created our first last will and testament. As we were creating this estate plan, we communicated with several of our family members since they were the ones who would be taking care of our business and making decisions on our behalf if we became incapacitated. (Click here for a free planning resource: Christian Guide to Planning Your Will & Trust.)
I know that some people do not trust their family members, so there may be times when you do not let others know about your plans. If you have a Christian family who is trustworthy, they are a great resource. The following are some tips to guide your estate planning conversations with family:
- Initiate discussion early in your planning process.
- Be candid about your intent and wishes.
- Compile notes and write out instructions.
- Be empathetic since this is a sensitive conversation.
Family members may have some good ideas to help as you are planning. Listen, but always put God first in the planning process.
Alma also has a BBA in Accounting. As we were starting married life, we were determined to live according to Scripture, live on less than we make, and avoid debt. We have been married for 45 years and have been faithful to this early commitment to follow God's way of handling money. We have always put God first when we are blessed with income.
We purchased our first house, but before the purchase was completed, we moved to Chicago, Illinois, USA.
(To be continued)
