For now though, I am taking up hosting the latest edition of the Carnival of Stock Market Investing.

Any fellow bloggers out there writing solid investment related advice and or discussing stock market investment techniques, resources, and so on, should feel free to contact me via the comments section below with their email address and I will email them about getting a link here. Or – if you find yourself here via a forum where I posted something promoting this carnival, hit me up with a PM on that forum if you want to be listed here.

The Carnival of Stock Marketing Investing: Check’Em Out…

First up we have a post from Warren Buffet Stock Picks, a blog providing a look into the investment and stock strategies of this legendary investor. Check out their article on long term stock picks. This looks like an interesting article with nuggets of investment wisdom, illustrated by the fact that it asks questions such as “a company’s share price might be the lowest that it has been in a year but is it worth it to begin with?”.

Second up, grab a cup of coffee and head over to Innovative Finance. This blog covers everything from real estate investing to stock market investments to general finance. Lots to pour over on a site like this having dozens and dozens of articles focused on finance and investments.

Third up, we have a cool article from Paula about Inheritance Funding. Probably a topic most of us have never thought of, right? Check it out over at Smart Family.

Next up we have an interesting article about something that nearly everyone can relate to – our retirement funds. How much attention do you pay to the rates you’re getting on your Roth IRA or 401k? Probably not too much, which is OK – you shouldn’t spend your time worrying about your Roth IMO, but nevertheless, you want to be getting a good rate of course! If that makes sense to you, then check out this article on Roth IRA rates.

More article spotlighting coming soon! Bloggers send me your best investment articles to promote!

For readers here who have gotten out of the muck of debt and are seeking some ways to actively plan for their financial future, some of the interesting topics being discussed at this site include investing in gold (which does seem to have a heavy Christian audience I’ve noticed – perhaps helped by the popular advertisements by prominent and controversial Christians like Glenn Beck on Fox News), a strategy for investments known as “value investing”, Jim Cramer’s investment ideas, futures trading,  general ideas on stock market investment strategies, refinancing your home, and how annuity buyers benefit from their annuity.

There’s lots to take in at a site like that on various financial planning and investment strategies. Not everything you read online should be believed either, so, never lose sight of your common sense and your own plan for financial independence. With that in mind though, check out the investement articles here.

As you may or may not be surprised to learn, that site here was also kind enough to promote one of my articles on Christian Financial Investments, hosting here at the Christian Debt Counseling Guide.

Soon I hope to host another round of this type of promotion between our sites, which in the blogger world we call a “Blog Carnival”. So get out your popcorn and get ready for the ride!

Surprisingly, data shows there is little distinction between the Christian community and the secular world insofar as spending habits, consumerism, and debt go. This includes such questionable things as high levels of spending, tying directly into carrying a large amount of credit card debt.  (1)

There’s controversy over the statistics proclaiming the amount of debt the average American holds. Showed one way, individuals on average hold $8,000 in debt. However, Financial Expert Liz Weston (2) writes that the reality behind those statistics is quite different. For instance, instead of the much quoted “$8,000 average debt per American” statistic, the truth is that most Americans owe nothing to credit card companies, but those households who do carry $2,000 or less. She goes on to say that about 1 in every 20 households in the United States has an $8,000 debt or more in credit cards to their name.

While this is certainly better news than the flawed statistic (due to how averages are calculated) that each American has $8,000 in credit card debt individually, it is still somewhat unsettling to have the curtain pulled back and see how much of a problem many still have when it comes to debt. To repeat, her findings state that those households who do have a credit card, 1 in 20 have at least $8,000 in credit card debt to contend with.

Credit card debt can become a financial hurdle that feels nearly impossible to jump over and move past once the cycle gets too much too handle. For families dealing with increasing credit card bills, those numbers are like having a dead weight attached to them, dragging them down further and further, all the while the surface of financial freedom gets farther away with each bill.

For Christians who have found themselves in this unsettling financial situation, a trend is developing to help them deal with their money problems from within the Christian community themselves. This is the idea of “Christian Debt”, also commonly called Christian Debt Counseling.

The goal this website is to explain in common sense, down to earth terms, how Christian Debt Counseling and Christian Debt Management companies and strategies help fellow Christians resolve their credit card debt in an ethical way, one that’s true to Christian ideals, while also getting them back on their feet financially.

Sources:
(1) Generous Living
(2) Liz Weston

For Christians carrying this amount of credit card debt, let’s take a look at the numbers. At a modest credit card interest rate of 10%, this means that a $100 minimum payment would be divided like this. First, the credit card company would take its share, which is 10% of your total debt – not 10% of your payment. This means $8,000 X .10 = $800/12 months = $66.66. So out of a $100 payment sent to pay down $8000 worth of debt, only slightly more than $30 would go towards your debt, the rest simply goes to the credit card companies. The numbers are even more frightening if there are monthly fees for the privilege of having the credit card, or, worse yet, late fees.

This example was with a credit card at just 10%. The truth is, many of you are likely to be dealing with abhorrent rates that are twice as much. If this is the case, then just to keep your debt at $8,000, with a 20% interest rate you’d have to fork over $133 a month. But you’d never pay the debt down, as this only covers the interest. If you could afford to throw $200 at this debt, less than $70 a month would go towards the debt.

This numbers are rightly frightening for anyone to look at who is dealing with a credit card debt that’s gotten out of control.

At this point, let’s address how Christian Debt Management can help a person who is dealing with a similar financial situation.

A Christian Debt Management company usually begins by offering loan consolidation or a type of credit card debt settlement. This means taking all their debts (loans) and packaging them all together in one loan. The actual debt to the credit card companies is paid off, and in its place, the person has 1 loan total, of which comes from or through the Christian Debt Management company. The reason this is beneficial compared to the previous set up is that this single loan will carry a much lower interest rate than what the credit card companies offer. It is also much easier and less stressful to have a single bill to pay to a single company, once a month, than various bills coming in all times a month from different credit card agencies, all with different interest rates and penalties and so on.

Additionally, many Christian Debt Management companies operate on a non-profit basis. They also will work with a person on more than just the numbers; they offer spiritual guidance and counseling, teaching Bible based financial concepts to help them manage their money and their debt responsibly.

In this sense, beyond offering a competitive interest rate and even operating on a not for profit basis, the spiritual counseling is a big factor that separates a standard financial or debt consolidation company from a Christian Debt Management company. If you are a Christian seeking help with your finances, a Christian perspective on financial management and debt reduction can be the missing piece in your personal financial portfolio.

In waters with so many sharks, how is one supposed to navigate to shore?

In an ideal world, Christian Debt Counseling companies would be a shining beacon of trust amongst all the financial sharks in the waters. The truth is, as Christians, one cannot simply trust the motives of a company who proclaims to offer “Christian debt relief” or “Christian debt solutions”. In the same way you’d rightly assess the validity of any financial services company, we must also look closely at any financial services offered by a Christian perspective before signing any paperwork.

Looking online for Christian-based credit card/debt solutions, I come across many forums and comments from fellow Christians expressing frustration at the spam they’ve gotten from so-called Christian Debt companies. Others complain of being ripped off by companies who only called themselves Christian in an effort to gain instant trust, only to then exploit that trust in the worst of ways for someone who is already struggling financially and is in dire need of help.

What are some ways we can protect ourselves from such unethical companies and persons?

Use the Better Business Bureau to check for any complaints or lawsuits against the company. The Better Business Bureau – usually just called the BBB – keeps files on companies of whom people have filed complaints against. It is one of the easiest ways to find out if other people have had problems with a companies services. It is also free to look up such information. To get started, go to the BBB website where you will be prompted to enter your zip code to find the nearest BBB office to your area. (This service available in the USA and Canada only.)

Ask your pastor or other members of the Church for recommendations. Your pastor may be able to offer some insight into local Christian based financial services, or know someone in the church who does! It’s likely that many congregations will have someone employed in the financial sector who may be able to offer advice as well on reputable companies. You might find someone else whose even used the services of a Christian Debt Counseling company whom could offer some eye-opening insight into their experiences.

Don’t respond to any emails offering debt services. Sadly, if you’ve signed up for many things online, including Christian-based services, it’s likely that your email account has been resold to online marketers and companies. If you’ve given up your email in regards to anything related to debt or credit problems, you’ve probably gotten a fair share of unsolicited email offering services, included so-called Christian Debt relief solutions. As a general rule to protect yourself, never respond to any emails of this nature. A reputable financial services company does not spam to find new clientele.

Express your concerns to the Christian Debt Counseling company itself and see how they respond. If you find any companies offering Christian Debt Counseling or Christian Debt Management services, express your concerns about financial scams in this area. See how they respond. A legitimate company would likely want to ease your mind by showing you that their company has been around X amount of years, helps X amount of clients each year, was able to reduce their debt by X amount of dollars on average, and has all the necessary licenses and financial credentials to offer such services. It also wouldn’t hurt to respectfully inquire as to what it means to them to be a Christian based debt relief company. The response should be revealing! It’s also an excellent idea to find out whether or not they are a profit or non profit Christian Debt service.

. . .

Having to wade through all the snakes in the grass to protect yourself isn’t very fun or enjoyable, but it is a part of turning your life around financially and living out the maxim of taking responsibility for your finances. The “old you” has credit card debt. The “new you” is actively seeking a solution, and isn’t scared to ask the right questions and do the right research to find a Christian Debt Counseling service that can help you learn the financial skills you need and set up a new consolidated loan to pay your bills on time and map out a plan to become free of credit card debt.

For years, the financial world has offered debt consolidation help to those with massive credit card debt. In a sort of one-two punch given by the financial sector, one company gives you a credit card and then profits from your debt, then another company steps in and profits from helping you manage that very same debt that you couldn’t afford in the first place.

This is where the growing Christian Debt Counseling world can step in and assist individuals with their credit card debt problems. Most Christian Debt Counseling companies operate on a not for profit basis. This non-profit set up helps keep the system honest, so to speak, by virtue of the fact that there is no financial incentive – or capacity, by default – to charge extenuating fees, penalties, or high interest rates – in an effort to make profits.

The bulk of what a Christian Debit Credit Counseling company does is offer a debt consolidation service. This means all your debts to individual companies is paid off, and in place off that, a new loan is given to you by the Christian Counseling company. This new loan means just a single monthly payment. It will also carry a much lower interest rate. Whereas the previous loans were designed to extract as much money as possible from the borrower, the new loan is designed to pay back the money borrowed without overzealous interest rates, penalties, or fees.

Christian Debt Counselors also work with people using a philosophy that at root is grounded in Biblical financial principles. Spiritual counseling and financial counseling is par for the course, offering insight to those needs debt relief as to what connection their is between their spending habits and their spiritual life. This perspective is a wonderful aspect of working with a professional Christian Debt Counseling company, as we all know the spiritual aspect of life is the ground for the physical. If people are not able to manage their money from a Christian mindset, they are likely to find themselves in financial turmoil further on down the road.

In this sense, Christian Debt Counseling seeks to not just solve the immediate problem at hand – the high amount of credit card debt – but also to address the root of the problem.

If you are dealing with a high amount of credit card debt, getting help from a Christian Debt Counseling company is like coming to the surface and getting a breath of fresh air when you were drowning. You still have to – swim to shore – meaning, you still have to repay your debts – but instead of swimming back to shore alone, with waves of high interest rates and fees knocking you down and pushing you back 10 feet for every 5 feet you swim, Christian Debt Counselors will be there for you, pulling you back to shore with a raft, giving you the tools you need to make it back to the shore and stand on your own two feet.

Let’s posit a few ideas in this regard. Let me say that none of this is meant to be the final word on ethical Christian investing. This is just me and some ideas I personally have on the subject. Here we go:

1. We don’t want our investments to promote pornography or the sex industry.

This means that no individual stocks should be bought from company directly involved in the pornography industry. This is an easy guideline to implement, as mutual funds from promiment investment firms (American, etc) to my knowledge, never invest in such firms. (Although it’s only out financial self interest that their mutual funds are structured this way – it’s not based on ethics. I do suspect that if large pornography companies went public they would make their way into many mutual funds eventually.)

2. We don’t want our money invested in companies that produce alcohol and cigarettes.

This is far tougher to implement. Why? The nature of big business today is of a handful of mammoth companies who own many different companies. If Company A is a cigarette company and a subsidiary of Company B, which also owns 200 other companies, does this mean all investments to the other 200 companies should be avoided even if they have nothing to do with cigarettes? This is tough question to answer. Ideally, I’d say yes, but again, it’s hard to not end up investing in ethical and profitable companies who are actually owned or connected to another company who may participate in other financial ventures which are are ethically or spiritually disagreeable.

3. We don’t want our money placed into companies directly involved in war profiteering or weapons manufacturing.

This means companies that produce guns, bullets, war machinery, and weapons for war should not be in our portfolio. This is a huge industry, but it’s fairly easy to avoid in a mutual fund.

4. We don’t want to investment in companies who violate human rights or otherwise exploit laborers.

This also is a big problem and strikes off many huge companies from the list.

To this end, there are investment vehicles out there that meet this criteria. These mutual fund products are put together to meet guidelines like the ones we’ve described above. This is often called Social Responsible Investing, Ethical Investing, Green Investing, or Faith Based Investing. All these actually describe something a little bit different from one another, and would not all be considered ‘Faith Based’ or Christian centered investing. However, the ethics involved tend to overlap, creating a larger market of ethically based investment opportunities.

Encouragingly, there are actually dozens of mutual funds out there which meet our criteria of 1-4 above partially of fully. Let’s take a look at 3 funds readers may be interested in learning more about.

Ave Maria Catholic Values Fund (AVEMX): This mutual fund does not invest in companies involved in pornography or abortion. They also do not invest in any companies that contribute financially to Planned Parenthood. Additionally, they also filter out investments to any company that offers benefits to nonmarital partners. I am assuming this is code for same sex benefits that are becoming more common these days.

New Covenant Growth Fund (NCGFX): This mutual fund screens out companies involved in gambling, alcohol, and guns.

Timothy Plan Large/Mid-Cap Value Fund/A (TLVAX): Thus mutual fund doesn’t put any financial investments into companies involved in pornography, alcohol, tobacco, gambling, and what the company describes as promoting “nontraditional lifestyles or a homosexual agenda”.

It’s encouraging to see the growth of such Christ-centered investment vehicles – I encourage you to acknowledge what your money may be supporting if you only invest based on profitability without any consideration to morality and the effects of your investments.

In this article, we will look at some common sense financial and budgeting tips and philoshies. This is not meant to replace consultation with a financial professional. Rather, these tips are meant to supplement such advice and give the reader an idea of the type of thinking they might need to grasp in order to move to a more responsible financial position in their lives.

Let’s dive in and get started.

Face the Reality of Your Financial Situation. Nothing changes without an honest assessment and acceptance of the truth of where things stands now. Be honest with yourself and your financial situation. This does not mean indulging in shame or feeling bad about what’s happened – it means accepting responsibility for where you are now. This acceptance is the first step in getting your finances under control.

Stop Adding Any New Debt To your Credit Cards. If you’re dealing with high levels of debt caused by those shiny plastic cards, it’s time to get rid of your credit cards. If you have the discipline to keep one on hand for emergencies, do so. If there’s any doubt that you cannot control your spending if you know there’s a single credit card in your wallet or purse, then don’t keep it there. Instead, place it in a safe place in the home, to be used for emergencies only, much like you would a first aid kit or other item used in emergencies.

Reduce Your Standard of Living. The high level of debt carried on a credit card means that you’ve been living at a standard of living that’s higher than your income can afford. It’s time to look at cutting costs and reducing the total monthly bills you’re accustomed to creating for yourself. Some suggestions include buying a cheaper cell phone plan, getting a cheaper cable TV package, or getting rid of the house phone if you have a cell phone. Conversely, you could also get rid of cable TV entirely, get rid of all the cell phones in the house, and just get a cheap house phone in stead. There are many other ways you could look at reducing your monthly costs, such as the amount of money spent going out to eat each month.

Keep Track Of You Expenses and Earnings. Where is all your money going? How much money do you have to work with each month? Chances are, unless you’ve been literally tracking these things on paper (or on a computer), you have only a ball park estimate of the answer for these questions. If you’re in over your head in debt, it’s time to do the dirty work and start keeping track of all your money. This means logging all expenses and also tracking all incoming money. This type of tracking can will become very revealing in where the money actually goes. It’s likely there are a few areas where your money is falling through a hole without you noticing. This often is very simple things like money spent on coffee, sodas, vending machines, alcohol, going out to eat, or buying books, CD’s, and DVD’s. Once this patterns are revealed from a few months worth of data, one is able to make far more informed spending choices that truly can match their standard of living with their financial situation.

These 4 tips alone are not an answer to an overwhelming amount of debt. But they are a helping hand on the path. Working with a Christian Debt Management service often leads to performing such activities as described above in an effort to attack all levels of your financial life with a plan that will you give you confidence to move forward and eventually get you debt free.