My father collected coins all his life. Some of these coins were put in folders or protective pockets, but many were stored in old jars. As a child, I liked to look through his many jars of coins for ones to add to my coin folders. My maiden name is Whitman, and it was a source of pride that we always used Whitman coin folders for our collections.
Today, I have several jars of Dad’s coins waiting to be rolled up and deposited in the bank or saved in coin folders. This picture shows two of these jars. I likely have thousands of pennies that Dad collected, and their sentimental value is worth much more than their actual value.
I’ve been thinking about pennies since President Trump announced that he would stop the production of pennies. Some people fear that retiring the penny will cause prices to rise as businesses round prices up. Others point out that it costs the U.S. $192 million per year to mint pennies at a price of nearly 4 cents per penny. I wonder if the value of pennies will increase as they become rarer, so I did a bit of research. Here’s what I found.
Officially, the U.S. does not have a coin called a penny. Our one-cent coin is called the cent. The British have pennies, so our forefathers did not want to name a coin “penny.”
It cost 3.69 cents to mint a one-cent coin in 2024.
The cent was first minted in 1793; the Lincoln cent was introduced in 1909.
Eleven other coins and currency have been retired, including the half-cent coin, the two-cent coin, and the twenty-cent coin.
The penny will not go away anytime soon, as there are approximately 250 billion in circulation.
Prices will not necessarily round to the nearest 5 cents. Most payments are made by check, electronic funds transfers, and payments apps, which will still be able to accommodate rounding to two decimal places.
Pennies are not likely to increase much in value. So, my 2,000 (estimated) pennies will still be worth about $20.00
Do you think it’s a good idea to retire the penny? Please feel free to comment and share your thoughts.
This article was published in my quarterly newsletter, along with articles on Scriptures that help you feel secure in times of financial stress, reducing spending by making it painful, and valuable Beanie Babies. If you would like to receive my quarterly newsletter on Honoring God with Your Money, please complete the form on the Contact page or send me an email to susan.ball5@aol.com
Kindness is the fifth fruit of the Spirit. A kind person is friendly, generous, and compassionate. The root word “kin” in kindness reminds us to treat others as family. As God’s people, we’re called to show kindness, especially by helping those less fortunate. Kindness can be as simple as offering a kind word or as significant as giving one’s resources, time, and energy to improve the situation of another.
True kindness eases others’ burdens and points them to Christ. As we grow closer to the Lord and allow the fruit of the Spirit to develop within us, the Holy Spirit empowers us to demonstrate kindness.
Kindness Cannot Co-Exist with Unforgiveness
Having the right attitude is essential when practicing kindness—particularly when it comes to sharing our financial resources. If we harbor animosity or unforgiveness in our hearts toward someone, it will be difficult to open our hearts (and our pocketbooks) to help them when the Holy Spirit nudges us to do so.
The Bible teaches us that in order to please God and cultivate kindness, we must rid our hearts of bitterness and unforgiveness. Ephesians 4:31-32 reminds us: “Get rid of all bitterness, rage and anger, brawling and slander, along with every form of malice. Be kind and compassionate to one another, forgiving each other, just as in Christ God forgave you.”
Paul also emphasizes this in Colossians 3:12-13:
“Clothe yourselves with compassion, kindness, humility, gentleness and patience. Bear with each other and forgive whatever grievances you may have against one another. Forgive as the Lord forgave you.”
God Expects Us to Be Kind
In the Old Testament, God commanded His people to show kindness. He even withheld His favor when they failed to do so. In Isaiah, God expresses His displeasure when kindness is withheld, especially toward the poor and oppressed. Isaiah 58:6-7 states:
“Is not this the kind of fasting I have chosen: to loose the chains of injustice and untie the cords of the yoke, to set the oppressed free and break every yoke? Is it not to share your food with the hungry and to provide the poor wanderer with shelter—when you see the naked, to clothe them, and not to turn away from your own flesh and blood?”
Job also reminds us of the importance of kindness in relationships: “Anyone who withholds kindness from a friend forsakes the fear of the Almighty” (Job 6:14).
Jesus taught that when we serve the least among us, we are serving Him (Matthew 25:31-46). The acts of kindness Jesus described involved sharing our possessions—food, water, clothing—with those in need. As God provides for us, He expects us to share those resources with others.
God Rewards Those Who Show Kindness
God blesses those who are kind and share their resources. Solomon wisely wrote, “A kind man benefits himself” (Proverbs 11:17), and “Whoever is kind to the poor lends to the Lord, and He will reward them for what they have done” (Proverbs 19:17).
When we are kind, we are building treasure in Heaven. This is especially true when we do so without making a spectacle of it. Jesus warned against doing good deeds for the sake of recognition, teaching His disciples:
“Take heed that you do not do your charitable deeds before men, to be seen by them. Otherwise, you have no reward from your Father in heaven. Therefore, when you do a charitable deed, do not sound a trumpet before you as the hypocrites do in the synagogues and in the streets, that they may have glory from men. Assuredly, I say to you, they have their reward. But when you do a charitable deed, do not let your left hand know what your right hand is doing” (Matthew 6:1-3).
When we show kindness to others, we honor God and demonstrate His love to those who are hurting. We should not show kindness to gain God’s favor or heavenly rewards, but when done in obedience to God’s commands and with the right attitude, God will reward our kindness.
A Reflective Question for Your Heart
As you reflect on your relationship with money and kindness, consider the following questions:
How has kindness played a role in your financial decisions?
Can you think of a time when showing kindness to someone changed their situation—or yours?
Take a moment to reflect and invite God to help you be more intentional with your kindness, especially in how you manage and share your resources. Remember, the kindest act you can do is to share the gospel of Jesus Christ, so that others can look forward to eternity in Heaven.
The Personal Financial Statement (PFS) is an important document that every business owner should understand. Unlike other financial statements, the PFS reflects the financial health of the business owner rather than the business itself. Many business owners mistakenly believe their personal financial situation is separate from their business’s financial health. However, that is not the case.
A business owner’s personal finances play a crucial role in determining whether a lender will approve a small business loan. Lenders review the PFS to assess if the borrower:
Is managing their personal finances well
Has cash to inject into the business
Has collateral to support the loan
Moreover, landlords and franchisors often require business owners to demonstrate financial responsibility before entering into lease or franchise agreements. Additionally, a PFS is necessary for certain SBA certifications and for securing SBA-backed loans.
Many business owners struggle with understanding how to complete the PFS. To help, I’ll guide you through the process, using the SBA’s Form 413 as the reference. While each bank may have its own version, most will accept the SBA version.
Guidelines for Completing the Personal Financial Statement
Assets:
Cash on Hand and in Banks: Total cash on hand and in your bank checking accounts.
Savings Accounts: Total of savings accounts, including CDs and money market accounts.
Retirement Accounts (IRAs, etc.): Total all retirement accounts. Though this money cannot be used as collateral, it’s still an important asset.
Accounts and Notes Receivable: Money owed to you, such as tax refunds, security deposits, or maturing CDs.
Life Insurance: Include only the cash surrender value of life insurance policies (the amount you’d receive if you cancel the policy, after administrative costs).
Stocks, Bonds, Real Estate, Automobiles, and Other Personal Property: List at current market values.
Other Property and Assets: Includes boats, trailers, collectibles, and jewelry.
Business Ownership: If you own a business, include its value, calculated by summing cash, equipment, and inventory. Enter this as “Other Assets.”
Liabilities:
Accounts Payable and Notes Payable: Includes unpaid bills, outstanding credit card balances, and bank loans (excluding mortgages, student loans, and auto loans).
Auto and Installment Loans: Include the total debt and the monthly payment for auto loans, student loans, or other installment loans.
Life Insurance Loans: If applicable, list any loans against life insurance policies.
Mortgage Liabilities: Include the total debt secured by any real estate, including first and second mortgages and home equity loans.
Unpaid Taxes: List any unpaid income tax, property taxes, and personal property taxes.
Other Liabilities: Include private loans from friends or family, legal judgments, and unpaid child support or alimony.
Net Worth:Net Worth = Total Assets – Total Liabilities
Additional Sections to Complete
Once you’ve filled in the basic table, additional details about your assets and liabilities are required in the sections below.
Section 1: Income
Salary: Include wages or salaries you regularly pay yourself from the business and any other employment.
Investment and Real Estate Income: Provide details of income from investments or properties.
Other Income: This might include disability income, foster care payments, and retirement income (but not alimony or child support).
Contingent Liabilities: Include any loans for which you co-signed, or set-aside funds for contingencies like lawsuits or IRS audits.
Section 2: Loans and Credit Cards
Provide details on all outstanding bank loans, credit card balances, student loans, auto loans, and personal loans.
Section 3: Stocks and Bonds
Provide details on stocks and bonds owned, including the number of shares and their current values.
Section 4: Real Estate
Include all properties owned—both free and clear, and those with mortgages. Use online sources like Zillow to estimate current property values.
Section 5: Other Assets
Describe the assets listed in Accounts Receivable, Other Personal Property, and Other Assets. Include the asset and its value, e.g., “2024 tax refund expected: $1,450” or “2018 fishing boat: $9,000.”
Section 6: Taxes Owed
Provide details on any unpaid taxes owed to the federal, state, or local government. If you’re on a payment plan, include the balance and payment terms.
Section 7: Other Liabilities
Provide details on any other liabilities not already covered in the previous sections.
Section 8: Life Insurance Policies
List the face value of your life insurance policies and the cash value you would receive if you cashed them out. If you’ve borrowed against any policies, include those details here as well.
Be sure to sign and date the form, and include your Social Security Number. If you are married, your spouse must also sign and date the form.
When lenders, landlords, or franchisors review your PFS, they’re evaluating whether you manage your personal finances responsibly, if you’ve taken on too much debt, and whether you can meet your financial obligations. Managing your personal finances well is critical, not only for your own peace of mind but also to demonstrate your ability to manage your business effectively.
Conclusion
The Personal Financial Statement is a key tool in securing financing for your business and demonstrating your financial responsibility to potential partners. By completing it accurately, you’ll be better prepared for any financial assessments that come your way. If you have any questions about how to complete your PFS or need further assistance, feel free to drop a comment below or email me at susan.ball5@aol.com! I’m happy to help you navigate this important aspect of your business finances.
Patience is the ability to wait for someone or something without becoming agitated or frustrated. It’s a calm, self-controlled attitude that isn’t instinctively present at birth but rather develops over time, especially through challenges and adversity. The apostle James teaches that patience grows in the midst of trials and hardships
James 1:2-4, says: “My brethren, count it all joy when you fall into various trials, knowing that the testing of your faith produces patience. But let patience have its perfect work, that you may be perfect (mature) and complete, lacking nothing.”
A patient person reaps many benefits: reduced stress, greater perseverance, improved problem-solving skills, and healthier relationships. In contrast, impatience often leads to restlessness, irritability, and rushed decisions without proper thought.
When it comes to finances, patience plays a crucial role in making wise financial decisions, avoiding costly mistakes, and preventing the burden of debt. Patience helps us delay gratification and trust God to meet our needs, while also teaching us to manage our money in a way that allows us to grow our savings over time and make big purchases without relying on debt.
Patience to Delay Gratification
It’s no secret that waiting for something you really want can be frustrating. Whether you’re saving for a special vacation, a new car, your first home, a new outfit, or the latest gadget, delaying that immediate gratification isn’t easy. However, the benefits of saving and waiting are substantial.
Avoiding Debt: By saving for an item instead of charging it, you avoid the stress of debt that can take months or even years to pay off, often with interest.
Increased Satisfaction: The anticipation of waiting often heightens your satisfaction when you finally make the purchase, and the joy of avoiding debt adds to that satisfaction.
Better Deals: Waiting gives you the time to research the best deals, potentially finding better prices or discovering a product that better meets your needs.
As Solomon wisely observed in Proverbs 22:7, “The rich rules over the poor, and the borrower is a servant to the lender.” Patience helps you avoid this type of financial bondage.
Patience to Accumulate Wealth Over Time
One of the best financial strategies is to start saving small amounts early, allowing your investments to grow over time. Consider this: If you begin saving $25 a month at age 25 into an annuity paying 3% interest, by the time you turn 65, your $12,000 investment will grow to $23,209. It’s not hard to save $25 a month—just skip one dinner or two lunches out each month, and you’ll be able to invest that money. If you increase it to $25 a week, your balance would grow to $100,547.
This principle is found in Proverbs 13:11, “Whoever gathers money little by little makes it grow.”
Trying to get rich quickly can often lead to risky, costly mistakes. Some people resort to gambling or high-risk investments that promise large returns. However, gambling can lead to addiction and financial ruin, and get-rich-quick schemes often end in loss. In fact, the Federal Trade Commission estimates that Americans lost more than $8 billion in 2023 to risky investments and scams, and nearly $117 billion was lost to gambling.
Patience to Wait on God
Patience is also about waiting on God’s timing. It’s about trusting that He will fulfill His promises, even when it seems like our prayers go unanswered. Patience allows us to stay faithful, even when we feel overwhelmed by financial difficulties. God has promised to meet all our needs, and He is faithful to His word.
In Philippians 4:19, Paul expressed his confidence that God would provide for the needs of the Philippians: “And my God shall supply all your need according to His riches in glory by Christ Jesus.” Despite the trials Paul faced, he had learned to be content, knowing that God would meet his every need. Patience and faithfulness during trials helped Paul grow in his trust in God’s provision.
When we wait on God, we develop patience and maturity, learning that God’s timing is perfect. Even when waiting feels difficult, remember that the trials we endure can build perseverance, and perseverance leads to maturity in our faith.
A Reflective Question for Your Heart
As you reflect on your relationship with money, consider the following:
Have you made financial decisions in the past that might have turned out better if you had been more patient?
Can you recall instances where God rewarded your patience with a better outcome than you expected?
Take a moment to think about these questions, and feel free to share your thoughts in the comments. Let this be an opportunity to invite God’s peace and patience into your financial journey.
Most small businesses have a number of unpaid bills at any given time. Inventory has been delivered, but the invoice isn’t due yet. Utility bills arrive two to three weeks before the due date. Retail sales tax has been collected but not remitted to the tax department. Payroll withholding taxes are being held in escrow until it’s time to file quarterly reports. These unpaid bills are known as accounts payable.
It’s crucial to keep track of your accounts payable so you know how much is owed, to whom, and when the bills are due. Managing your accounts payable effectively offers several benefits. A statement of accounts payable will help you achieve this.
Benefits of a Statement of Accounts Payable
Effective Cash Flow Management Accounts payable should be included in your cash flow statement for the month they are due. This ensures that you’ll have enough cash on hand to cover those bills. It also helps highlight months where a shortage might occur, allowing you to arrange a line of credit to meet forecasted shortfalls.
Avoidance of Late Fees and Interest Tax authorities impose penalties for late filing of quarterly tax payments and monthly sales tax reports. Banks, utility companies, and suppliers may also charge late fees or interest for bills that aren’t paid on time.
Take Advantage of Discounts Many suppliers offer discounts for early payment. A statement of accounts payable lets you easily spot vendors offering discounts, so you can ensure bills are paid on time to take advantage of these savings.
Maintain Good Credit and Vendor Relationships Timely payments are key to maintaining a strong credit score and healthy relationships with lenders and suppliers.
Preparation for Loan Requests If you need to borrow money or establish a line of credit, lenders will often request a statement of accounts payable. This statement helps them evaluate your level of debt in relation to industry norms and your ability to cover outstanding debts if your revenue declines.
Creating a Statement of Accounts Payable
A statement of accounts payable is essentially a table that includes:
Name of creditor
Account number or invoice number
Invoice date
Due date
Amount owed
Creditor
Acct/Invoice Number
Invoice Date
Due Date
Amount
Bill 1
Bill 2
Bill 3
Bill 4
Tips for Managing Accounts Payable
Managing accounts payable effectively is crucial for maintaining healthy cash flow and good vendor relationships. Here are some best practices to consider:
Separate Regular and Occasional Bills Keep distinct charts for bills that occur regularly and those that are occasional. This makes it easier to track and manage.
Record Monthly Bills on Your Cash Flow Statement Include occasional bills in the months they are due, not just the regular ones. This will help you get a clear picture of your upcoming cash flow needs.
Set Up Automatic Payments for Fixed Monthly Bills Set up automatic payments for bills like rent, loan payments, cell phone bills, and subscriptions that are predictable and have a fixed amount.
Estimate and Adjust for Variable Bills For bills that vary, like utilities or discretionary expenses (marketing, for example), use an estimated amount in your cash flow statement and adjust for seasonal variations.
Automate Bill Payments When Possible If possible, have bills go directly to your bank. This simplifies the payment process, especially if you’re using a bill-paying app.
Track Infrequent Bills For less frequent bills, like insurance payments, set up automatic payments to ensure you don’t overlook them.
Balance Your Checkbook Regularly Schedule weekly or bi-monthly checkups to balance your checkbook and confirm that all bills have been paid or are scheduled for timely payment.
Forecast Cash Flow in Advance Predict your monthly cash balances several months in advance to determine if sufficient funds will be available during slower months. If you forecast a shortage, take steps to ensure enough cash is available, like establishing a line of credit or injecting more capital into the business.
Conclusion
A statement of accounts payable is a simple but powerful tool for tracking your bills and maintaining healthy cash flow. By following the tips above, you’ll be able to manage your accounts payable effectively, avoid late fees, and maintain good credit and vendor relationships.
If you have any questions about managing your accounts payable or tips for creating your own statement, feel free to drop them in the comments below. I’d love to help you better understand this important aspect of your business finances!
The third fruit of the Spirit is peace—a deep sense of inner contentment and calm. Peace of mind stands in stark contrast to worry or stress. We experience peace when we feel safe and secure. However, in today’s world, feelings of peace can be rare and short-lived. We find ourselves worrying about our family’s safety and health, job security, political turmoil, and, of course, whether we have enough money to meet our obligations.
Money is consistently one of the top causes of stress. In fact, a recent study revealed that 70% of Americans report feeling stressed about their finances, and 90% say that thinking about money causes them anxiety. But God does not want us to live in fear or anxiety about money. He desires for us to have peace, no matter our financial situation.
True Peace Comes from God
The first step in experiencing peace is recognizing that only God can truly supply all of our needs. As Philippians 4:19 reminds us: “And my God will meet all your needs according to the riches of his glory in Christ Jesus.”
When we bring our needs before God in prayer, He listens and responds in a way that aligns with what’s best for us. Philippians 4:6-7 encourages us: “Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God. And the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus.”
As we bring our needs to God and trust Him to guide us, we begin to experience the true sense of peace that comes from knowing Christ as our Savior and recognizing God as our ultimate provider.
Money Cannot Give Us Peace
It’s also crucial to acknowledge that no amount of money can provide lasting peace. A 2024 study found that the average American household believes they need an annual income of $186,000 to feel financially secure. However, the most recent Census Bureau data shows that the median household income is $78,538, with only 10% of households earning $186,000 or more. This means that the vast majority of Americans feel insecure about their financial situation. It’s no wonder that many experience stress when they think about money.
Even those whose income greatly exceeds $186,000 often admit feeling financially insecure and wishing for “just a little more.” King Solomon understood this idea when he wrote in Ecclesiastes 5:10: “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.”
True peace comes not from accumulating wealth but from trusting in God, who provides for our needs.
Money Is Fleeting
Even if you have accumulated enough money to feel financially comfortable, it’s important to remember that wealth can be lost in an instant. A stock market crash or economic downturn can wipe out fortunes overnight. Political unrest or war can destroy the wealth of entire nations. Many people have lost their wealth due to bad investments or unscrupulous financial advisors.
King Solomon described this in Proverbs 23:4-5: “Do not wear yourself out to get rich; do not trust your own cleverness. Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off into the sky like an eagle.”
Paul also warned against putting our hope in wealth. He wrote to Timothy: “Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.” (1 Timothy 6:17)
We can only feel secure and at peace with our finances when we depend on the Lord to provide for our needs. Isaiah 26:3 assures us: “You will keep him in perfect peace, whose mind is stayed on You, because he trusts in You.”
A Reflective Question for Your Heart
As you consider your relationship with money, ask yourself: Do I place my peace and security in my financial situation, or am I trusting God to provide for my needs, no matter what my bank account looks like? Take a moment to reflect on whether your financial outlook aligns with God’s call to trust Him fully or if you’re still holding on to worry and insecurity. Let this be an opportunity to invite God’s peace into your financial journey.
If your business extends credit to customers, understanding and managing accounts receivable is essential. Accounts Receivable (AR) refers to the money customers owe for services rendered or goods delivered, and it’s a critical part of your cash flow. Many businesses—like professional services, utility companies, and wholesalers—work with accounts receivable.
What Are Accounts Receivable?
When you extend credit, you’re essentially allowing your customers to pay later, often within a specified number of days. For example, if you deliver goods or services to a customer, you may allow them 30 days to pay the bill. In this case, you would have an account receivable until that payment is made.
To effectively track AR, businesses use an aging schedule, which categorizes accounts based on how long the payment is overdue. At the end of this blog, I’ve provided a helpful Accounts Receivable Aging Schedule Template. This template outlines what to include in your report, but if you prefer to create your own, it offers a great starting point to ensure you’re tracking the necessary information. Typical categories are:
Current (not yet due)
1-30 days past due
31-60 days past due
61-90 days past due
Over 90 days past due
Why Does This Matter?
An Accounts Receivable Aging Report plays a significant role when you apply for a business loan. Lenders will review this report to assess how much of your business’s sales are made on credit, how it compares to industry norms, and whether there’s a risk of non-collection. Specifically, lenders are concerned about the percentage of receivables that are more than 60 days overdue. If the report shows high delinquency, it could signal poor cash flow management, which might lead to a loan denial.
Why Managing Accounts Receivable is Crucial
Effective AR management is key to your business’s cash flow health. Here are a few strategies to keep in mind:
Measure the Effectiveness of Discounts Many businesses offer early payment discounts, like “2/10 Net 30,” meaning a customer gets a 2% discount if they pay within 10 days, but the full amount is due in 30 days. If a lot of customers are taking advantage of the discount, cash comes in quicker—but your profit margin takes a hit. Understanding how well your discount terms are working can help balance cash flow with profitability.
Monitor Customer Behavior Let’s say you’ve had a loyal customer who consistently pays early for the discount, but now they’re paying late or just on time. This could be a sign that they’re experiencing cash flow problems. If so, it’s worth reaching out to see how you can help. Perhaps they need smaller orders, or you can work out a payment plan to keep the relationship strong and reduce your risk of uncollected debt.
Improve Cash Flow Management By closely tracking overdue invoices, you can promptly follow up with reminders. If certain customers consistently pay late, it might be necessary to put a hold on further orders until they clear their outstanding balance. Proactively managing receivables ensures that cash keeps flowing into your business and reduces the risk of uncollected debt.
Assess and Adjust Credit Terms If few customers are taking advantage of your early payment discount, it could be time to reassess your credit policy. Maybe your discount isn’t big enough to incentivize early payment. Or perhaps customers need more time to pay based on how quickly they can sell your product. Adjusting your credit terms might help accelerate cash flow without compromising customer relationships.
The Risk and Reward of Extending Credit
Offering credit is an excellent way to attract new customers and keep current ones loyal. A discount for early payment can boost cash flow and reduce the risk of bad debt. But, as with all things in business, extending credit comes with its risks—delayed payments can affect cash flow, and offering discounts reduces profit margins. It’s important to stay informed about industry standards, track your AR regularly, and adjust your policies as needed. Most accounting software has monitoring features that can make this process easier.
Here’s a template for an Accounts Receivable Aging Schedule:
Final Thoughts
Tracking accounts receivable is more than just a financial task—it’s a critical element in your business’s cash flow management. By understanding how to monitor, manage, and adjust credit policies, you can strengthen your business’s financial health and make sure cash continues to flow in the right direction.
The second fruit of the Spirit listed is joy—a word often associated with gladness and delight. While joy is frequently tied to specific events, such as a parent celebrating their child’s graduation, this type of joy tends to be temporary, fading as circumstances change.
True joy, however, is different. It is internal, unshaken by life’s ups and downs, and is a gift from God. As Romans 15:13 says, “May the God of hope fill you with all joy and peace as you trust in Him, so that you may overflow with hope by the power of the Holy Spirit.”
When it comes to finances, joy plays a critical role in how we handle money. Let’s explore a few ways joy connects to our financial lives.
Joy in Knowing God Is Our Provider
Knowing that God is our provider should bring us great joy. Jesus reminded His disciples not to worry about life’s necessities, assuring them that God would meet their needs. As He said in Matthew 6:25-26, “Therefore, I say to you, do not worry about your life, what you will eat or what you will drink; nor about your body, what you will put on. Is not life more than food and the body more than clothing? Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they?”
During times of financial stress, it’s easy to let worry steal our joy. But in these moments, remembering God’s past faithfulness can restore our peace. I can personally attest to this—when my husband was laid off, and our income dramatically decreased, my first thought was that God would provide. Even in uncertainty, I felt joy and peace knowing He was in control.
When you face financial challenges, take your needs to God in prayer. Jesus promised, “Ask, and you will receive, that your joy may be full” (John 16:24).
Joy from Helping Others
There’s also joy in sharing our resources with those in need. Acts 20:35 teaches, “It is more blessed to give than to receive.” If you’ve ever helped someone less fortunate—whether providing a meal for the hungry or offering relief after a disaster—you’ve likely experienced the satisfaction and joy that comes from easing someone else’s burden.
God calls us to care for the poor and promises to bless those who obey. Deuteronomy 15:10 says, “Give generously to them and do so without a grudging heart; then because of this the Lord your God will bless you in all your work and in everything you put your hand to.” This promise should fill your heart with joy, knowing that your generosity brings blessings.
Furthermore, God delights in those who give with a cheerful heart. As 2 Corinthians 9:6-7 reminds us, “He who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. So let each one give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver.”
Future Joy for Faithfulness
We also look forward to the joy of future rewards in heaven for our faithfulness in giving. Jesus taught that we should store up treasures in heaven by being generous on earth. As He said in Matthew 6:19-21, “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
When we care for others, we are building treasure in heaven. Jesus further emphasized this in Matthew 25:31-36, explaining that when we feed the hungry, give drink to the thirsty, welcome strangers, clothe the naked, visit the sick, and care for prisoners, we are serving Him. These acts of kindness lead to eternal rewards and deepen our joy in Christ.
Finding Joy Through Generosity
As we trust God to provide for our needs and follow the Holy Spirit’s direction in giving, we experience true joy. This joy is not found in accumulating wealth, but in living out God’s call to be generous and compassionate. When we honor God with our finances, we discover contentment and peace, no matter our circumstances.
The cash flow statement is an essential tool for business owners and anyone considering business ownership. Unlike the balance sheet or income statement, which show what’s already happened, the cash flow statement is a forecasting tool. It projects future income and expenses over a specific period, helping you see what’s coming down the line.
A typical cash flow forecast is broken down by month and often extends for one or more years. For example, if you’re applying for a commercial loan, the lender will typically request a 24-month forecast.
A solid cash flow statement does three important things:
Demonstrates the profit potential of your business
Highlights the seasonal nature of your revenue
Shows when you might face cash shortages
When Should You Develop a Cash Flow Forecast?
As a business owner, it’s critical to create a cash flow forecast before making major decisions like:
Starting a new business
Applying for a business loan
Changing locations (whether moving from a home office to a rental or expanding to a larger space)
Hiring additional employees
Opening a second location
Introducing new products or services
How to Develop Your Cash Flow Forecast
To create your cash flow forecast, follow these steps:
Identify Your Revenue Streams: List out all the ways your business makes money. This could include retail sales, consulting services, wholesale accounts, etc.
Estimate Monthly Revenue for Each Stream:
What does the “average” customer spend?
How often will purchases be made? Retail sales might happen daily, but consulting services could be more occasional and of a higher value.
How will customers pay? Retail transactions are typically paid upfront, but wholesale or service-based businesses may bill customers and expect payment within a set number of days. Make sure to include the revenue in the month you expect to receive payment.
Account for Seasonality: Some industries see fluctuating revenue throughout the year. For example, retail tends to be slower in the first quarter and peaks in the last quarter. Be sure to include this in your forecast.
Estimate Your Costs:
Cost of Goods Sold (COGS): How much does it cost to produce or acquire the goods/services you sell?
Non-Operating Costs: These include investments in new equipment, furniture, building improvements, utility deposits, and loan payments.
Include Your Owner’s Draw: Your own payment, called the Owner’s Draw, should be listed at the bottom of your cash flow statement to show that you’re paid after all bills are covered.
Cash Flow vs. Income Statement
The cash flow statement and income statement are different in a few key ways:
Loan Payments: The cash flow statement includes the entire loan payment (both principal and interest). The income statement, however, only includes the interest portion of the loan, as that’s the amount that’s tax-deductible.
Depreciation: While depreciation affects your income statement by reducing taxable income, it doesn’t appear on the cash flow statement because it doesn’t involve an actual cash outflow.
Why Accurate Estimates Matter
It’s essential to estimate revenues and expenses as accurately as possible. Your cash flow forecast will help you decide whether to start or expand your business, assist lenders in evaluating your loan application, and highlight any months where your revenues might fall short of covering expenses. By recognizing potential cash shortfalls ahead of time, you can make a plan to cover those gaps—whether by borrowing, saving during busier months, or investing your own funds.
Get Started with Your Own Cash Flow Statement
I’ve included a cash flow statement template to help you create your own forecast. If you’d like an editable version of the worksheet, just email me at susan.ball5@aol.com, and I’ll send you a copy.
Love is a word we use frequently, but often in different ways. We say “I love that!” when we talk about food, clothing, or even our favorite vacation spots. While these may reflect strong preferences, they’re far from the deeper, more self-sacrificial love we’re called to show our family, friends, and ultimately, God.
In his paper The Fruit of the Spirit: Love, James Hernando defines love as a relationship term within the context of redemption. He writes, “Love…defines our relationship to ourselves, to God, to our neighbor, and to the members of God’s body.” God’s love is self-giving, intimate, and requires personal involvement. It’s the kind of love that drives us to share our resources—especially our finances—to meet the needs of others.
Love and Giving: A Call to Action in Christian Finances
We demonstrate love in tangible ways when we open our pocketbooks and share the financial blessings God has given us. The Bible is clear about this. In the Old Testament, God commands the Israelites to care for the poor: “For the poor will never cease from the land; therefore, I command you, saying, ‘You shall open your hand wide to your brother, to your poor and your needy, in your land.’” (Deuteronomy 15:11) Similarly, in the New Testament, John reminds us that the love of God isn’t just a feeling; it’s actionable: “But whoever has this world’s goods, and sees his brother in need, and shuts up his heart from him, how does the love of God abide in him?” (1 John 3:17)
You might be thinking, “I work hard for my money. Why should I sacrifice my earnings for others?” The answer lies in understanding the depth of God’s love for you. He loved you so much that He gave His only Son to die for you. Jesus’s love was sacrificial—it cost Him everything. Our love should reflect that same generosity, both spiritually and financially, as we strive to honor God with our money.
Intimacy in Love: A Heart Connection in Financial Stewardship
God’s love is intimate. Hernando writes, “Intimacy involves close personal interaction resulting in commitment, emotional bonding, and mutual care and concern.” Jesus modeled this intimacy with His disciples—He spent time getting to know them, understanding their needs, and responding with love.
As we grow in love, our relationships deepen, and we naturally start to care for others, not just emotionally, but practically, including financially. This was evident as the early church met daily to pray, fellowship, share meals and meet one another’s needs. “Now all who believed were together and had all things in common, and sold their possessions and goods, and divided them among all, as anyone had need.” (Acts 2:44-45) Christian stewardship means being generous with our resources to help those around us.
Avoiding the Love of Money: A Biblical Warning
As we mature in the Fruit of the Spirit, we become less attached to money and more devoted to loving God and others. Jesus warned that it’s impossible to serve both God and money: “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” (Matthew 6:24, NIV)
The love of money can harm our relationship with God and create all kinds of problems. “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.” (1 Timothy 6:10) Money, when idolized, becomes a barrier to a relationship with God and others. It can even destroy relationships, as people prioritize wealth over love and well-being.
Loving money leads people away from God and into many types of sin. “For men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy.” 2 Timothy 3:2 The sins depicted in this verse are attitudes that destroy relationships with God, family members, and friends. As these attitudes take root in a person’s heart, he or she may go to great extremes to get more money. For some this involves sacrificing their families and relationships to seek promotions and raises in order to earn larger salaries and achieve more status. Others violate the law to gain more money. Stealing, fraud, tax evasion, identity theft, and robbery are just a few of the ways that greedy people try to gain more money. No matter how much money they obtain—either through hard work and ingenuity or through theft and crime—lovers of money will never be satisfied.
Despite what culture tells us, money can never fulfill our spiritual and emotional needs. “He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity.” (Ecclesiastes 5:10-11, ESV) Biblical stewardship teaches us that contentment comes not from accumulating wealth, but from trusting God to provide all we need.
Loving Others: A Practical Application of Financial Stewardship
Romans 12 offers practical instructions for loving others, many of which tie directly into how we handle money. Take your Bible or open your Bible app and look up Romans 12:9-15 & 20-21. Discover how some of the instructions apply directly to our use of money:
Entertain strangers
Demonstrate hospitality
Feed and give drink to our enemies
Provide for the needy
These actions often require us to spend our resources—time, energy, and yes, money. Christian hospitality doesn’t have to be extravagant, but it does require sacrifice. We are called to share freely, not to impress others, but to genuinely care for their needs.
As you grow in your relationship with God, your heart for others will deepen. Be attentive to the Holy Spirit’s promptings, and seek opportunities to love others with your finances, just as Christ loves you. In doing so, we demonstrate biblical generosity and honor God with the resources He has entrusted to us.
Final Thoughts on Stewardship and Love
As we reflect on how love impacts our finances, we are reminded that it’s not about the amount we give, but the heart behind it. True love—God’s love—compels us to be generous, sacrificial, and intimate in our care for others. Let that love guide your financial choices today, and trust that God will bless your generosity.
Susan's Reflections 
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