Free to Be Intentional

Have you ever made a special trip to the grocery store to buy a loaf of bread but ended up leaving with two bags of junk food? Have you ever gone to the mall to buy a new pair shoes, but also went home with a new jacket and three pairs of jeans? Have you ever taken $40.00 out of the ATM with a plan to only use $25.00 and save the other $15.00, but quickly spent it all?

Don't get me wrong; it's okay to enjoy the fruit of your labor by buying things you haven't planned for in your budget, but there's a proper way to do it. Budgeting isn't meant to be so serious that you can't stray from your plan; instead you have to be intentional in your planning so that you can take advantage of opportunities to spend what I'd like to call stray money.

Who says you can't budget for that unexpected sale or that deal of a life time? Sure, it's hard to define an expense when you don't know what it is or when you'll encounter it, but that's why you allocate funds for it in your budget. You set aside stray money so that when you come across an exciting opportunity, you can indulge in guilt-free spending because you know your financial plan is still intact.

Too often, we purchase items frivolously, picking up a candy bar here, coffee there, and fast food every where...all without giving thought to our budget. The bottom line is that we have to become intentional about how we spend and how we save if we're ever going to become as successful as we'd like to be with handling our finances.

Remember, change doesn't just happen. We're not going to make better financial decisions without being deliberate about them. If we budget $20.00 for eating out this week, then we shouldn't be spending $40.00. If we have $100.00 set aside as stray money but want to buy a new I-Phone that could cost more than $400.00, we have to exercise restraint. We will need to discipline ourselves to save for it and purchase it at a later date instead of whipping out the credit card to make up the difference so we can have it now.

Since our new year is set to begin in less than three days, let's enter into it embracing the freedom to be intentional. Instead of throwing caution to the wind, let's catch new determination in the stillness of December's end and allow our financial lives to be changed forever!

Thirsty for Financial Planning that Works

Creating budgets and taking advantage of other financial planning measures help us to prepare for short and long term, expected and unexpected expenses. We work hard with the intent to earn enough income to cover such expenses, and of course, hope to enjoy a surplus that allows us to build a comfortable nest egg for the future.

Most of us plan for regular expenses relating to housing, transportation, clothing, grocery, insurance, education, etc. If we're wise, we also try to prepare ourselves for unexpected expenses...financial emergencies that occur when the water heater stops working, when the transmission fails, when the kids need expensive schools supplies, or when a spouse walks out. How many times have we experienced emergencies that have cost us more than our budgets or nest eggs could handle?

Unexpected expenses...don't you hate them? You know what I mean. You're happy about your new discipline to save and are proud of yourself for building up your savings account from $50.00 to $1,000.00, when all of a sudden you experience a financial emergency that is set to cost you a minimum of $1,600.00. Not only will it wipe out your savings; you also don't have the other $600.00 (or more) you'll need to pay the expense in full. What will you do?

What about those of you have worked hard and denied yourself some really fun opportunities in order to pay off that $8,000.00 of debt in one year, but now are unable to enjoy being debt-free because you have no savings to handle life's emergencies. So, when the IRS sends you a notice that a previous tax return included discrepancies that now require you to pay the federal government $793.00, your debt-free-self has no money to pay them.

What have your experiences been like? Has an unexpected expense ever left you in the uncomfortable position of trying to decide whether to pay your rent/mortgage or your car payment, whether to buy groceries or your prescription drugs, or whether to keep your cable service instead your internet service? Trust me, you are not alone. I have been there and done that!

That's why I'm thirsty for financial planning that works. I live to help people establish budgets and encourage financial habits that enable hard working individuals to spread their finances around in ways that will allow them to meet their financial obligations while simultaneously building their savings and emergency funds. In essence, I have a passion to prepare people not only to experience the unexpected but to answer it with a nest egg set aside just for it.

What about you? Do you have an "Unexpected" Fund or Emergency Fund to help offset irregular expenses? If so, how do you make it work for you? If not, how do you handle the unexpected when it occurs?

Teach The Children

As parents and adults, we're responsible for preparing children for becoming adults themselves one day. We teach them how to talk, how to walk, how to read, how to complete chores, how to play sports and other games, but how many of us take the time to teach them how to handle money? Why aren't financial lessons a necessary part of our agendas in raising and cultivating responsible children into mature, wise adults?

Since we're talking about budgeting this week and preparing ourselves for the upcoming year, why don't we take a few minutes today to share financial principles and concepts with the leaders of tomorrow? Does your daughter know the difference between income and expenses? Does your nephew understand how to prepare a budget? What do your children know about credit and debt, savings and investments? What about your teenagers? What do they understand about banking or compound interest?

It has taken many of us years to understand financial concepts and consequences that our children need to know today. Therefore, I'm asking that we take some time today to give them the advantage of learning  how money works now so they be better equipped to manage it as adults.

Change Doesn't Just Happen

We've all heard the following:

Money doesn't grow on trees.

It is God who gives us the power to gain wealth (Deuteronomy 8:18).

The wise man saves for the future, but the foolish man spends whatever he gets (Proverbs 21:20). 

Each of these statements reveals a truth about finance:  change doesn't just happen. Unless we're willing to do things differently and much more consistently, we will continue to experience many of the financial ups and downs that have become norms in our lives. The truth is that money doesn't just grow on trees; we have to earn it and establish a budget that will help us to control how we'll spend, save, and invest it. The truth is that while God gives us the power to gain wealth, He also gives us the ability to work hard, use our creative minds, and apply financial principles that will enable us to establish a foundation that we can build upon. Finally, the truth is that one of the most important difference between the wise man and the foolish man is perspective. The wise man lives for tomorrow and leaves a lasting legacy, while the foolish man is only concerned with today and is soon forgotten after he's gone.

When it comes to our finances, all of us have the potential to be wise. We can all pursue greater financial knowledge and then apply the principles and strategies taught, but none of us can build wealth without vision and self-discipline. Improving our financial status requires an immediate assessment of who we are now, what we do now, and where we are now in our financial lives - then who we want to be, what we want to do next (short and long-term), and where we want to be in our financial futures. That's why budgets are so important. At the very least, it can help us to answer that first set of questions and assist us in determining the answers to the others. A budget is a great resource for helping us to develop the self-discipline to plan how we'll spend our earnings and how we'll actually stick to that plan.Don't overlook the opportunity to fine tune your financial planning, especially prior to the new year. It's the only way to break old habits and missed opportunities that have left us wandering around and living beneath our potential.

When do you get paid next, and what will you do with that money? Who do owe and what will be left after you pay them? Are you living with a regular surplus or trying to survive amid usual deficits? These are questions you need to be able to answer, and you can if you choose to deliberately do so. Why not make today the day you pursue change and work on perfecting practices that will help you to cultivate financial vision and discipline? You can do it...I know you can!

Get Ready, Set, Plan!

I hope you all had a wonderful Christmas; I certainly did.

Now, it's time to get back to our money matters. With the dawn of a new year quickly approaching, I feel compelled to reiterate the need to plan and prepare a budget that will focus on accomplishing short-term and long-term financial goals for 2012. At the very least, I ask you to exit December with January in mind. Close out this financial year with a plan for the next one.

I can't tell you how constructive is to see what you did with your money over the course of an entire year. You'd be surprised by how well your past actions can prepare you to reach new financial heights in the future. Believe it or not, the realization that you spent over $2,000.00 at Starbucks but only knocked off $800.00 of your credit balance this year could motivate you to change that habit next year. Knowing where and how you've wandered off the beaten the path can help you to become more focused and deliberate with your financial movements in the future.

If you haven't done so already, schedule a financial planning day. This will be a day in the very near future when you'll sit down with all of your financial information (i.e., bank statements, receipts, bill statements, checkbook register), and record them as best as you can. You can do this with pen and paper, using finance software, or even Microsoft Excel. Record your income and expenses by month and tally your totals.

I've provided the following example of financial information for January - May:

		JANUARY	FEBRUARY	MARCH	APRIL	MAY
Income							TOTALS
	Xerox	$ 1,784.00	$   1,784.00	$ 1,784.00	$ 1,784.00	$ 1,784.00	$       8,920.00
	Logan's Roadhouse	$    685.00	$      720.00	$    330.00	$    504.00	$    435.00	$       2,674.00
Total Monthly Income		$ 2,469.00	$  2,504.00	$ 2,114.00	$ 2,288.00	$ 2,219.00	$     11,594.00
Expense
	Mortgage	$    729.00	$      729.00	$    729.00	$    729.00	$    729.00	$       3,645.00
	Electric	$    139.74	$      145.99	$    160.01	$    155.77	$    133.00	$          734.51
	Water & Sewer	$      48.96	$        48.96	$      48.96	$      48.96	$      48.96	$          244.80
	Cable	$      65.00	$        65.00	$      65.00	$      65.00	$      65.00	$          325.00
	Telephone	$      60.00	$        60.00	$      60.00	$      60.00	$      60.00	$          300.00
	Auto Payment	$    380.00	$      380.00	$    380.00	$    380.00	$    380.00	$       1,900.00
	Auto Insurance	$    104.00	$      104.00	$    104.00	$    104.00	$    104.00	$          520.00
	Credit Card Payment	$      75.00	$        75.00	$      75.00	$      75.00	$      75.00	$          375.00
	Grocery/Household Supplies	$    200.00	$      200.00	$    200.00	$    200.00	$    200.00	$       1,000.00
	Eating Out	$    208.00	$      120.00	$    132.00	$    255.00	$    200.00	$          915.00
	Gifts	$    100.00	$      240.00	$            -	$            -	$      85.00	$          425.00
	Miscellaneous	$    259.30	$      236.05	$      60.03	$    115.27	$      39.04	$          709.69
	Savings	$    100.00	$      100.00	$    100.00	$    100.00	$    100.00	$          500.00
Total Monthly Expenses		$ 2,469.00	$   2,504.00	$ 2,114.00	$ 2,288.00	$ 2,219.00	$     11,594.00

What if this was your financial history? Would you be happy with what you see here...more money spent on miscellaneous items than on eliminating your credit card debt, and almost twice as much money blown on eating out than invested in savings? How would you allow this revelation to provoke you to change your habits and priorities for the new year?

Let's say that the above was a copy of your income and expenses, and let's pretend that your regular income and expenses for 2012 will remain the same. Allocating these funds for next year's expenses, I made a few adjustments (see the chart below). By reducing the amount of money you spend on eating out, gifts, and miscellaneous items, you will be able to pay $1,200.00 towards your credit card debt instead of the $375.00 paid in 2011, and your savings plan will increase from a total of $500.00 to $1,000.00 in the same amount of time.

		JANUARY	FEBRUARY	MARCH	APRIL	MAY
Income							TOTALS
	Xerox	$   1,784.00	$   1,784.00	$   1,784.00	$   1,784.00	$   1,784.00	$       8,920.00
	Logan's Roadhouse	$      685.00	$      720.00	$      330.00	$      504.00	$      435.00	$       2,674.00
Total Monthly Income		$  2,469.00	$  2,504.00	$  2,114.00	$  2,288.00	$  2,219.00	$     11,594.00
Expense
	Mortgage	$      729.00	$      729.00	$      729.00	$      729.00	$      729.00	$       3,645.00
	Electric	$      139.74	$      145.99	$      160.01	$      155.77	$      133.00	$          734.51
	Water & Sewer	$        48.96	$        48.96	$        48.96	$        48.96	$        48.96	$          244.80
	Cable	$        65.00	$        65.00	$        65.00	$        65.00	$        65.00	$          325.00
	Telephone	$        60.00	$        60.00	$        60.00	$        60.00	$        60.00	$          300.00
	Auto Payment	$      380.00	$      380.00	$      380.00	$      380.00	$      380.00	$       1,900.00
	Auto Insurance	$      104.00	$      104.00	$      104.00	$      104.00	$      104.00	$          520.00
	Credit Card Payment	$      350.00	$      350.00	$      100.00	$      200.00	$      200.00	$       1,200.00
	Grocery/Household Supplies	$      200.00	$      200.00	$      200.00	$      200.00	$      200.00	$       1,000.00
	Eating Out	$      100.00	$      100.00	$        50.00	$      100.00	$        50.00	$          400.00
	Gifts	$        50.00	$      100.00	$             -	$             -	$        20.00	$          170.00
	Miscellaneous	$        42.30	$        21.05	$        17.03	$        45.27	$        29.04	$          154.69
	Savings	$      200.00	$      200.00	$      200.00	$      200.00	$      200.00	$       1,000.00
Total Monthly Expenses		$   2,469.00	$   2,504.00	$   2,114.00	$   2,288.00	$   2,219.00	$     11,594.00

Isn't it amazing what your money can do when you give it a plan and a purpose? That's the goal for the new year - to work our money so that we can appreciate how hard we had to work to earn it and how well we can use it to manage our freedom as we invest in the freedom of others.

If you hadn't been planning to take inventory of your financial past (2011) or prepare a budget for next month or next year, I pray that today's blog post has changed your mind. Ringing in the new year is about celebrating our perseverance and victory over past obstacles with clear intent to move forward towards our utmost, God-given potential in the future. That's what I want for you, and that's what I want from me, so let's get to it and do our part to make sure that 2012 is the best financial year of our lives!

Free to Open the Door

If you're anything like me, visitors on Christmas day are a no-no. Christmas is a day when I prefer to be stingy with my time and my family. On a typical Christmas day, I only see 5 other people all day...my husband and four sons. That's it, that's all. I'll share my time and attention with others on Thanksgiving, New Year's Eve, or New Year's Day, but frankly, I want my family to myself on Christmas day. I can't say that this is right or that it's wrong. All I can tell you is that it's my preference for this one particular holiday. I don't know why but Christmas just seems more special to me when celebrated intimately with me and mine.

Having said that, I must admit to you that I have opened my door to others on a few Christmases, and what I've learned is that it isn't always fair for me to be as close minded about Christmas visitors as I've chosen to be. There are times when it's more beneficial to others for me to open my heart as I open my front door than it is for me to keep my family and Christmas experiences to myself. The few times we've shared our Christmas with others, it has meant much more than not having them over could have meant to them or us.

So, on this Freedom Friday, I urge you (and me) to be opened minded this Christmas. Planning how we'll spend our time on Christmas day and who we'll spend it with is a productive way of approaching this special holiday, but we must be careful to leave room for the unexpected miracle that having unexpected visitors can bring...for them and us!

I hope you have a very, Merry Christmas!

Thirsty for a Good Time!

With 3 days left until Christmas, I'm excited! I'm not excited about opening gifts, drinking eggnog, chewing on candy canes, or watching my sons open Christmas presents. No, I'm excited about our opportunity to celebrate everything pertaining to the birth, life, sacrifice, and gift of Jesus Christ, our Lord and Savior! We'll wake up early to pray together as a family, eat breakfast, get dressed, and join fellow churchgoers in worship at an 8am service. Afterwards, my husband, four sons, and I will return home and commence celebrating our own little family traditions...traditions that may seem insignificant to an outsider, but that allow us to make the most of spending quality time together on such a marvelous occasion.

That's what we are always excited about on Christmas Day. That's what we're thirsty for. Precious time spent on a special occasion to commemorate all that Jesus' birth welcomed. We enjoy expressing our love and appreciation for one another by way of home made cards, poems, and letters. We all sit around together listening as each person shares the love they've received from every member of the family. We break out our special sparkling grape juice and crackers to remember Christ in our family communion. Later, we take pleasure in watching The Veggietales:  The Toy That Saved Christmas, and recalling our younger selves watching it in years past. And each year we add to our traditions. Last year, we included the DVD, The Nativity Story as one of our must-see Christmas movies.

Bottom line...we enjoy every single moment together as a family on Christmas day. What will you do to quench your family's thirst for a good time on Christmas day? What are some of your family's Christmas traditions?

Daddy Time: Give 'Em What They Need!

On this What Do You Have to Give Wednesday, I'd like to request a very special gift for some very special people from their incredible, irreplaceable fathers. As I'm sure you've noticed from today's blog post title, I'd like to focus attention on children (young and old). I'm asking fathers to give their offspring the gift of daddy time!

As both a wife and a mother, I completely understand the significance of our roles and positions in the world and definitely in the lives of our children. However, there's so much to be said about the relevance of our menfolk, especially when they are dads (or have the opportunity to mentor children who are without one). Without detailing the obvious, I'd just like to remind men everywhere that there's nothing in the world for children like daddy time.

So, on this wonderful Wednesday I send a special shout out to all of the wonderful men out there who are (much like my own husband), holding things down...training their boys to become men, cherishing their girls who will one day be women, taking their children to school, meeting their needs, laughing with them, crying with them, playing with them, and even praying for them. And for those of you fine fellas who have been a little too busy and a little less available for leisure time with your seed, it's not too late. It's the one thing they need that we women cannot give them...daddy time! Set aside some time to invest in your children (young and old). They won't soon forget it!

Practicing What I've Preached

Please accept my sincere apologies for a late blog post today. Usually, I prepare them a few days in advance, or at least the night before. However, today's blog didn't get done early because...well, I was practicing what I preached on the blog yesterday. I was spending quality time with my four sons who are home on Christmas break. You see, because a new year is quickly approaching, I spent most of Sunday evening preparing our minds, money, and moments for 2012. In other words, I was working on the Briscoe Budget for 2012. Needless to say, that took a great deal of my mommy-focus away from the boys so I spent all of Monday making up for lost time. So, here I am on this Tuesday morning trying to make up for my missed time with you.

How are you doing with your time management? Have you been prioritizing the need to savor some precious moments with the people you love (even if it means allowing certain responsibilities to temporarily fall through the cracks)? Trust me, it's not always easy to decide what or who to give the most time to in our busy schedules. Just as is true with our finances, sometimes it's hard to determine what needs our immediate attention and we can't allow indecision to keep us from finding a practical way to prioritize paying them both. The same is true of our time. Perhaps you want to organize your closet and put away those summer clothes, but you've always been wanting to take your daughter skating. Which one will take precedence over the other? Which matters most?

Of course, spending time with your child supersedes organizing your closet, but that doesn't change the fact that both need your attention, does it? Well, first focus on the one while planning to follow through with the other later. And just like me (apologies and all), enjoy what matters most without forgetting the other things that means so much to you (maybe you can invite your daughter to help you in the closet after you leave the rink). Don't allow life's circumstances to make you feel like you can't give the best of yourself to those who need you, and don't succumb to the pressures of your hectic schedule, allowing them to dictate to you which tasks you can or cannot accomplish. You may have to accomplish them a little later than you'd like, but you can get them done. And remember, money will come and go but the time you spend with the people you love will be etched forever in the hearts and minds of those you've shared it with.

Have a fabulous Tuesday!

Six Days 'Til Christmas

'Twas six nights before Christmas when all through the house, 

     not a wallet was stirring...not even a spouse. 

All purses were hung in their places with care, 

     in hopes that all money would remain unused in there.

Okay, so it's Monday and Christmas is only 6 days away! What does this mean to you? Hopefully, it means you've done all of the shopping you planned to do when you created your Christmas Spending Plan (you did create one right?). I pray that it means you've overcome the pressure to buy things you can't afford for people who probably already realize that fact. I'd be excited to learn that it means that the Christmas gifts you've prepared to give away are more creative and innovative than last year's, and less expensive than the gifts you've given over the past five years.

This week, I'd like to adjust the focus of the blog from talking about money and Christmas to considering our time and Christmas. Most of our children are or will soon be out of school and on Christmas break. Our friends and relatives are planning trips to visit with us for the holidays. And as much as our loved ones will appreciate the presents they might receive from under our Christmas trees, one of the best gifts we can possibly give them this week is our time...our undivided attention...priceless, quality time.

I know you have a lot going on this week. Whether you are closing out your business year, prepping your home for guests, or packing for your own trip, I realize that there's a lot left to be accomplished. Still, time is a gift God gives us each day, and it's a gift we need to appreciate by giving it at its best to the people in our lives. So, today I'm asking you to put a little thought into the days ahead and execute a plan that will allow you to give away one of the best gifts we'll ever be able to share with the ones we love...our time.

Take it Back: Possess Your Power!

This week we've talked about steering clear of celebrating Christmas on credit, not allowing credit card use to turn you into a beggar, admitting your debt to yourself and exposing it to someone you trust, and finally, intervening for those whose spending is out of control. Today, I'm encouraging everyone to take back their power. You haven't been using credit cards forever so believe or not, you can function without using them now. This Christmas, I want you to give yourself (or help someone else to gain) something that can't fit under the tree...independence...freedom from relying on credit cards. I want you to become liberated from your comfort with credit card spending and the convenience of swiping that card.

Remember what we've learned this week:  admitting and exposing our truth is the first step to any real change. If we're all going to possess our power and control our spending, reduce our debt and destroy our dependency on credit, we have to face our current realities. That means pulling out the those statements and noting the God's honest truth. Are we behind on our monthly payments? Have we been paying on the same balance far beyond the length of time it should have taken to obtain a zero balance? How much are we paying in interest? How much have we paid this year? How does that amount compare to the amount we've paid on the principle amount originally financed? What have we been paying in late fees and other charges? How long is it going to take to pay off our balances if we continue to only pay the minimum amounts due, and how will that affect our bottom line?

After we've finished noting these facts, it's time to determine our own truths and paint our own pictures. We'll do this by changing the game. Here's how:

• gather all credit cards and cut them up, have someone we trust to hold/hide them from us, or freeze them in a large container of water (get them out of our sights so we can work on getting them out of our minds),
• call our creditors to make arrangements if we're behind on our payments or if we need to reduce the amount of credit we have available, 
• make credit card payments on time,
• establish a realistic plan for paying off all credit card debt, 
• discipline ourselves and sacrifice additional funds monthly to pay down balances (commit a portion of every extra dollar that comes our way to reduce our debt),
• and finally, DO IT! Pay off every single debt and retire entirely from credit card abuse!

That's power, and that power is ours! Let's take it back from our creditors and possess it on our own!

Thirsty for an Intervention

Do you know someone who is drowning in credit card debt...someone who can't seem to control their spending habits? Has a friend recently revealed the truth about his or her credit card debt? Perhaps you've noticed that your sister's trips to the mall are getting out of control. What are you doing about what you see? How are you handling your concerns for your friend?

Just as most of us wouldn't sit around and watch silently while someone we love abuses drugs, we shouldn't standby and wink at our friends' reliance on credit cards (especially if their debt is growing). So, what should we do? Here are my suggestions for holding a private intervention:

• Brainstorm - write down your thoughts about your friend's credit card use and spending habits (it is important to be as specific as possible if you hope to successfully convey those concerns).
• Plan - figure out the most comfortable, conducive time and environment to talk to your friend (again, consider exactly what it is you want to say).
• Meet & Greet - show up on time and invest a few minutes in complimenting your friend for his or her attendance, appearance, and admirable strengths.
• Get serious - express your concerns and offer any advice and assistance you have to show your support and commitment to helping your friend to change his or her current habits.
• Share - reveal your own credit card journey and share what you've learned along the way.
• Cheer - reiterate your love, hope, and faith in your friend's ability to change his or her credit card use and reduce current credit card debt.
• Follow up - check in with your friend once a month, or at the least once a quarter (every 3 months) to see how he or she is doing and how you might be able to help.

Credit card debt is keeping too many of us awake at night, and is preventing too many of us from experiencing a variety of opportunities because of its affect on our credit ratings. You know someone in this situation, don't you? Well, today is the day for you to join me...get thirsty for an intervention, and then go make it happen!

Admit the Truth to Yourself; Expose it to Someone You Trust

What Do You Have to Give Wednesdays are usually devoted to giving the best of our time, energy, and resources to others. Today, I'd like for us to focus our attention on one thing we can give ourselves, and that's exposure and relief. I am challenging us to get honest and determine to make some much needed changes. Oftentimes, the first step to changing any habit, scenario, or circumstance is to admit it. The second step is to expose it. The more we try to hide the truth about our credit card debt, the greater the tendency for that debt to continue to grow (or at least stick around), overwhelming our minds and our income.
Today, I want us to take a good look at our credit card balances and find someone we can trust to admit our present truth to and get the support we need to change.

I've often heard the phrase, there's a thin line between love and hate. Well, I'd like to say that there also seems to be a thin line between success and failure, and the truth's power plays a significant role in determining which side of the line we find ourselves on. So again, I'm asking you to pull out those credit card statements and sit with that truth for a minute. Admit the bottom line to yourself out loud. Then, find a supportive, trustworthy friend or family member to expose your truth to. At first, the very idea of sharing it might seem embarrassing or just downright humiliating; but if you do this with a clear head and a clean heart, you'll find that revealing your secret will provide relief while opening the door to change...change that has the potential to achieve zero balances on those credit cards.

I know today's challenge might seem a bit scary, but I have faith in your willingness and ability to meet it and beat it. I'd love to hear about your process and results. Remember, you don't have to post your comments here. You can email me any time (cmbriscoe7312@gmail.com). 

Credit Cards: What Do They Say About You?

The truth is that there are credit card users and there are beggars. Which one are you? I'd like to think that you're neither, but the reality is that most consumers have and use at least one credit card on a regular basis. According to The Survey of Consumer Payment Choice, 78% of Americans own a credit card (Source: Federal Reserve Bank of Boston, January 2010).

Proverbs 21:5 in Old Testament scripture provides this wisdom:  Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty (New Living Translation). This can offer insight into the minds of credit card users and beggars. A wise consumer makes it his or her business to "owe no man", but a foolish consumer spends much of his or her life begging for opportunities to owe as many creditors as possible in order to enjoy as many short-lived luxuries and conveniences as he or she can.

Although I believe that debit cards can do the same, I understand that credit cards can be used as an effective tool for purchasing, tracking, and managing certain expenses. Mature credit card users are disciplined planners and executioners. They use their cards knowing when and how to pay their balances before they accrue interest and other fees. Beggars do not. Instead, they pursue bank credit cards and give in to department stores or other credit card offers without discipline, and definitely without a plan for managing the cards. They shop for the thrill and swipe without a purpose because they can.

Make no mistake about it:  if you keep swiping credit cards to borrow money you don't have the immediate means to pay back, you have become a beggar. You are guilty of soliciting external opportunities to purchase that which you know internally you are never planning to pay in full. That's not what credit cards are for, and that's not how mature, responsible adults are meant to live. Swipe if you must, but do so with a sure fire plan to pay the balance in full, and before your debt accrues interest. Choose (if necessary) to be a credit card user and determine to never ever become a beggar.

Christmas on Credit

13 days 'til Christmas, and with countless gifts still left to be purchased for friends and loved ones, many people are running out of cash and relying on credit to finish their shopping. Far too many consumers are stressing and sweating over their incomplete gift lists. They are set on swiping their credit cards to accomplish the mission. Giving more thought to the days ahead than the coming months, shoppers are relying on credit cards to have themselves a very Merry Christmas.

Is it the 50% off tag that's persuading you to swipe that card? Did you lose your job two weeks ago and yet, feel pressured by an obligation to your family that has convinced you to rely on credit? Are you charging purchases as a result of your relentless decision to follow former Christmas traditions?

This is a time of year when many retailers and banks are offering almost irresistible introductory rates and additional savings on purchases made with credit cards. It's also a time when parents feel the pressure to give their children as much as they were able to give them last year even though their income has dropped significantly since then. Thefts and robberies become prevalent during the Christmas season...all because people believe that they HAVE TO place gifts under the tree.

Please be reminded that Christmas lasts one day but credit card debt has a tendency to be around for months and years down the road. For those of you who use your credit cards for Christmas shopping but have consistently paid off the balance within the cards' grace period, I commend you. Unfortunately, this is not the norm for most folks. The reason banks and retailers are so generous with their rates and extra discounts in December is because they know that shoppers will be even more generous to them in the the coming months (and years) as they receive interest payments in addition to the principle payments consumers owe for these purchases.

If you haven't pulled out that credit card you've been stashing in-between your mattresses yet because you know the trouble you would get yourself into, I urge you...don't do it now! I know those boots you saw yesterday are absolutely gorgeous but if you don't have the extra cash you need to buy them now, save up to buy them when you can afford them. I'm sure your niece would love that new doll that girls are raving about but again, if you can't afford it, you shouldn't allow access to a credit card to trick you into thinking that you can.

You have to know yourself. Look back at your track record. If you have a tendency to pull out your card with a plan in mind to quickly pay off the balance on new purchases but don't follow through with it, then don't lie to yourself now. Don't count on credit to buy when you can't count on yourself to pay it back. If I had my way, no one would use credit cards but I do realize that there are disciplined consumers who handle credit cards well. To all others, I'll end by saying this:  if your reason for maintaining a credit card is for emergencies only, then remember that the next time you're in Old Navy or Macy's and fall in love with a pair of jeans...I doubt very seriously that such a credit card purchase constitutes as an emergency.

Free from the Pressure to Please People

As we bring this week of plastic-gift-talking, not-counting-on-online-banking-for-tracking-my-finances conversations to a close, I'd like for us to allow every bit of the information from this week to also encourage us to be free from the pressure to please people. We've talked about shopping for gifts and we've talked about passing out plastic presents. We've talked about giving and we've talked about receiving.

Whether our buying power is being focused on Christmas, birthdays, or some other reason to purchase gifts, we have to be clear on what we're buying for people and why we're buying them. It's one thing to give gifts or spend our money on people out of the kindness of our hearts. It's another thing to do it because it's expected of us. It's fine if I ask you what you want for your birthday, graduation, or Christmas and you expect to receive one of those items from me, but it's not okay to tell me to what to buy you.

A gift card isn't really a gift if you're pressuring me into purchasing it for you, and cash isn't a loan when a person says, "Eh, let me hold a twenty for a minute." So, why do so many of us put unhealthy amounts of energy into pleasing others? How is it that we are adamant about who we are, what we'll do, and what we won't do when it comes to so many other areas of our lives but then allow our friends to dictate where we shop and how we spend our money?

If you're reading this and feeling a bit convicted, I encourage you to embrace your freedom. You and I are free from the pressure to please people. So, let's resolve to maintain that freedom and live apart from the selfish demands of others! Have a fabulous Friday!