Money Ebook

Money
Biblical and
Practical Approach
to Financial
Management
By Doris Ng
Contents|3
Money
Biblical and Practical Approach to Financial
Management
Copyright © 2015 by Doris Ng Siew Lian

ISBN 978-981-09-3966-3
All Scripture quotations, unless otherwise indicated

are taken from the Holy Bible, New International
Version®, NIV®. Copyright © 1973, 1978, 1984 by
Biblica, Inc.TM
All rights reserved. No part of this publication may be

reproduced, stored in retrieval systems, or
transmitted in any form or by any means, electronic,
mechanical, photocopying, recording, scanning, or
otherwise – except for brief quotations in printed
reviews, without prior permission of the author.
Every effort has been made to trace every quotation

or abstract to the rightful source.
The author will be pleased to rectify an omission in

future editions if notified by copyright holders.
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4| Money
Contents
Foreword ....................................................................... 8
Acknowledgement ...................................................... 11
Introduction ................................................................ 13
My Services to You: ..................................................... 17
ABOUT MONEY .......................................................... 19
Week 1 – Ten Biblical Principles of Money
Management............................................................... 21
GOAL SETTING AND PLANNING .................................. 27
Week 2 – Setting Your Faith Financial Goals.............. 29
Week 3 – Write Your Plan and Goal............................ 33
Week 4 – Where Am I? ............................................... 37
Week 5 – Prepare Your Plan ....................................... 43
WISE SPENDING ......................................................... 47
Week 6 – Budgeting and Spending ............................. 49
Week 7 – Let Go of a Luxury ....................................... 53
Week 8 – Cease Comparing ........................................ 55
Week 9 – Spend Smart ................................................ 57
Week 10 – Eat Economically ....................................... 59
Week 11 – Restructure Your Recreation .................... 61
Week 12 – Spend in Sync with Your Spouse ............... 63
Week 13 – Pare Your Presents .................................... 65
Contents
Week 14 – Stop Buying on Impulse ............................ 67
Week 15 – Watch Wastefulness ................................. 69
Contents|5
GIVING AND SHARING ................................................ 71

Week 16 – How Should We Give? .............................. 73
Week 17 – Save Strategically...................................... 77
WEALTH AND PROSPERITY ......................................... 81
Week 18 – True Wealth .............................................. 83
Week 19 – The Danger and Motives for Accumulating
Wealth ........................................................................ 87
Week 20 - God’s Way of Prosperity ........................... 93
Week 21 - True Biblical Prosperity ............................. 99
APPLY GODLY WISDOM ............................................ 105
Week 22 – Diminishing Your Debt............................ 107
Week 23 – To Be Contented ..................................... 111
Week 24 – God’s Will in Finance .............................. 117
Week 25 – How Much Is Enough? ............................ 121
Week 26 – Financial Stewardship............................. 127
Week 27 – Making Godly Financial Decisions .......... 131
Week 28 – Money Wise............................................ 139
Week 29 – Avoiding the 12 Most Common
Mistakes ................................................................... 143
Week 30 - Helping and Saving .................................. 147
Week 31 - Finance At a Glance ................................. 151
Week 32 - Romance and Finance ............................. 155
6| Money
Contents
Week 33 - Young and Energetic ................................ 159
Week 34 - Faith and Work ........................................ 161
Week 35 - Should I Start a Business? ........................ 163
Week 36 - Man-Made Economy ............................... 167
Week 37 - Food For Thought .................................... 171
Week 38 - Practical and Scriptural Insights on Taxes 175
Week 39 - Wrong Master… Wrong Outcomes.......... 179
Week 40 - Who Owns Your Stuff?............................. 183
PRUDENT INVESTING ............................................... 185
Week 41 – Biblical Principles and Investment
Opportunities ............................................................ 187
Week 42 – Wise Investing ......................................... 191
Week 43 – Saving and Investing ............................... 195
Week 44 - The Real Deal about Real Estate .............. 199
RETIREMENT PLANNING ........................................... 203
Week 45 – Retirement Planning (Part 1) .................. 205
Week 46 – Retirement Planning (Part 2) ................. 209
ESTATE PLANNING ................................................... 213
Week 47 - Life Insurance and Estate Planning .......... 215
Week 48 - Estate Planning ........................................ 221
Week 49 - Power of Attorney Power ........................ 225
Week 50 - Wills and Trusts........................................ 227
Contents|7
Contents
THE CHALLENGE ....................................................... 233
Week 51 - Do Not Miss the Miracles ........................ 235
Week 52 – Lasting Treasure ..................................... 239
8| Money
Foreword
30 years ago, I was plunged into the most serious
financial crisis in my life. I can still vividly remember
reading the Straits Times in December 1985 with the
big headline: “Stock markets closed for 3 days in
Singapore and Malaysia” and I knew, there and then
that I was a man “doomed for bankruptcy”. You see, as
a young man in a hurry to get rich quick, I speculated
very heavily in the stock market and all with borrowed
money. When the markets re-opened 3 days later, I
was forced to liquidate all my share positions and by
the time I realized the extent of my losses, it was too
late –total amount of S$350,000 owing to 2 stock
broking firms. As a trained accountant and working as
a loan officer in the bank, I am not ashamed to confess
that I had messed up my finances.
I thanked God that 2 months before the market

crashed, I had a divine encounter with my Lord Jesus
Christ that totally transformed my life. Although I had
to go through 31/2 years of very painful and traumatic
experience with 2 big judgement debts by June 1986,
monies owing to 17 creditors and being on the brink of
bankruptcy many times, I overcame my mountain of
debts to tell a miracle story of God’s amazing divine
provision and deliverance.
You see, in my desperation to seek a solution to my

insurmountable financial crisis as a young bank officer
with a monthly take home pay of just S$3,000, all I
could turn to for help was the Bible, the book of life.
Foreword|9
While many of my friends saw my “spiritual

conversion” as a psychological “cop-out”, I was
pleasantly surprised to find my answers and solutions
to my financial crisis and of all places, in the Bible. As
I stepped out in faith to apply the words of God’s
wisdom and truth and to stand on His precious
promises, I experienced first-hand the miracle of God
“to teach me in the way I should go and to counsel me
with His loving eyes upon me” – Psalms 32:8 even in
this very important area of managing your money –
God’s ways. How I wished I had read the Bible earlier
to avoid going through this very painful episode of my
life.
In her fifth book, “Money – Biblical and Practical

Approach to Financial Management”, Doris Ng, a dear
friend and fellow marketplace minister, has once
again, put together in a very concise and easy to read
52-week program for anyone to discover for
themselves the gems of truth and principles
concerning what the Bible has to say about money and
money management. Invest your precious time to
explore God’s eternal principles about money and
money management week by week and you will be
empowered with His knowledge, understanding and
wisdom to walk in financial freedom and abundance
for His Glory.
Tay Tien Guan aka TG Tay

Trainer & Coach
Financial Life Coaching Pte Ltd
Connecting Your Money with Your Life
A c k n o w l e d g e m e n t | 11
Acknowledgement
To God and my great friends who join me in my

journey with God. My thanks go to the people in DNA
Financial. They have patiently waited for me to learn
to lead and grant me the time and space to do my
writing.
Many thanks to the following persons and resources. I

have gleaned much wisdom from them in formulating
thoughts, ideas and questions for the articles.
 How to Manage Your Money (by late Larry

Burkett).
 Master Your Money (by Ron Blue).
 Becoming Money Wise (by Ronald Henning).
 Money (by Lee Jenkins).
 30 Days to Taming Your Finances (by Deborah
Smith Pegues).
 Personal Financial Planning (by Koh Seng Kee and
Fong Wai Mun).
My special thanks go to TG Tay who had made time to

write the foreword for this book. Thank you for your
friendship.
12 | M o n e y
Thanks to:
 Audrey Cheng for your editing, proofreading and

dedication
 Martha for your friendship and prayer support.
 Marissa for typing the transcript and formatting
the book.
 Dinithi, AlpSoft Technologies Pte Ltd, for your
creative design.
 Appreciate Lai Kheng for your feedback and help
in editing the book cover.
And to the many wonderful servants of God

mentioned in this book. Your lives and testimonies
have been a constant encouragement to me.
Most of all I thank God for His love, for the miracles it
took to turn this book into tangible reality, for apart
from Him, I would have nothing to say.
I n t r o d u c t i o n | 13
Introduction
Although money is an integral part of our lives, many

of us lack a proper understanding of it. God gives us
the freedom to determine how we want to spend
money, but Bible is very clear about what God expects
from us.
"No one can serve two masters. Either he will

hate the one and love the other, or he will be
devoted to the one and despise the other. You
cannot serve both God and Money.
~ Matthew 6:24
What good will it be for a man if he gains the

whole world, yet forfeits his soul? Or what can a
man give in exchange for his soul?
~ Matthew 16:26
But seek his kingdom, and these things will be

given to you as well.
~ Luke 12:31
For the love of money is a root of all kinds of evil.

Some people, eager for money, have wandered
from the faith and pierced themselves with
many griefs.
~ 1 Timothy 6:10
14 | M o n e y
Then he said to them, "Watch out! Be on your

guard against all kinds of greed; a man's life
does not consist in the abundance of his
possessions."
~ Luke 12:15
Jesus made money a key topic in His teachings. In His

parable, He dealt with finances and possessions on
many occasions. How we handle our money is a key
indicator of our spirituality.
Why a Book Like This?
I wrote this book because I discovered that many

people do not know how to handle money successfully.
This book is simply my humble attempt to deliver
some of the answers you need. I know that some of you
are hurting financially. Yes, your finances may be out
of control today, but you can decide now that this is
only temporary reality. If you are faithfully following
the principles in this book, I promise you they will
make a difference in your financial world.
I n t r o d u c t i o n | 15
This book:
 Covers many practical principles of managing your

money and show you the benefits of planning and
the dangers of credit cards, loans and many others.
 Will sharpen your overall knowledge about
finances, regardless of your current financial
condition. Even if you already have your financial
act together, use the book to empower you and
someone you love. Use it as a resource for yourself
to guide you in counselling others.
 Uses the counsel from other authors to share God’s
wisdom and instructions so we can become more
productive and faithful with money.
 Came out from a compilation of my research and I
owe it to all great men and women of God who had
laid the strong foundation.
Therefore, I cannot claim them as original and I am

offering this at a special price to all who desire to serve
God with your lives and money.
You definitely have what it takes to reach your

financial destiny. You just need a little direction and
clarity, both of which are contained in this book. I wish
you well in your journey to become money wise and to
live a life of victory.
16 | M o n e y
M y S e r v i c e s t o Y o u | 17
My Services to You:
• “Multiplying Marketplace Miracles” and
“Marketplace Manna” are made available at 51 Bras
Basah Road, #07-02 Manulife Centre, Singapore
189554.
Price: S$20/- each.
• You may purchase in bulk for educational, business

or fund-raising purposes, at a special price. For more
information, please email to [email protected].
• “Marketplace Manners” and “Soul Food for the

Hungry Christian” are also made available to you free
of charge. You can download this book at dna-
coach.com.
However, if you feel led to give, kindly channel all funds

to my mission fund: Account number DBS Savings Plus
0171077783 or cross cheque to Ng Siew Lian Doris, mail to
51 Bras Basah Road, #07-02 Manulife Centre, Singapore
189554.
• I am also offering a free 30 minutes Career Coaching

Session for people who purchased “Multiplying
Marketplace Miracle” and/or “Marketplace Manna”
books.
For enquiries, please call Doris @ 6833 8433.

May this humble effort bless you.
Blessings
Doris Ng
Senior Director, Financial Services
Life Coach
A b o u t M o n e y | 19
ABOUT MONEY
ABOUT MONEY
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W e e k 1 T e n B i b l i c a l P r i n c i p l e s | 21
Week 1 – Ten Biblical Principles of

Money Management
The Bible has a lot to say about money. More than

2,000 verses from Genesis to Revelation deal with
money and possessions. God knows the importance of
money and God wants us to understand about money.
He has provided very practical principles to help us
manage and understand money and avoid financial
bondage.
Ten Biblical Principles of Money Management
Biblical Principle #1 – God Owns It All

God has the right to whatever we have. I am just a
steward. I have no rights but only responsibilities.
Therefore my giving, tithing or spending is a spiritual
decision. It may mean that I possess much but own
nothing and every spending decision is a spiritual
decision.
Biblical Principle #2 – Commit God’s Portion First

Although this principle is developed more fully in the
unit on sharing, it is an essential element in any
financial plan.
Honour the LORD with your wealth, with the

firstfruits of all your crops; then your barns will
be filled to overflowing, and your vats will brim
over with new wine.
~ Proverbs 3:9-10
22 | A b o u t M o n e y
Biblical Principle #3 – Control or Eliminate the

Use of Credit
Unfortunately in our society, we do have many people
today, their credit is out of control. Debts equates to
bondage and is destroying many marriages and
families today. We must stop the misuse of the credit
card.
Better a little with the fear of the LORD than

great wealth with turmoil.
~ Proverbs 15:16
Biblical Principle #4 – Learn to be Contented

Many families in financial difficulties think that
generating extra income, such as having the wife work,
is the easiest and best way out of financial difficulties.
That usually is not the case. Most problems are caused
by overspending, not insufficient income. So how can
we avoid these problems? Reduce our expenses. This
may mean eating out less, foregoing a vacation, selling
a car or even downsizing our home.
He who loves pleasure will become poor;

whoever loves wine and oil will never be rich.
~ Proverbs 21:17
Biblical Principle #5 – Set the Goals God has for

You
If you allow others to establish your priorities, plans
and goals, you are going to be frustrated and unhappy.
Remember that God has a plan for your life. Follow His
plan, not your neighbour’s.
For I know the plans I have for you," declares the

LORD, "plans to prosper you and not to harm
you, plans to give you hope and a future.
~ Jeremiah 29:11
It has been said that “When Jesus is all you’ve got, Jesus
is all you need.”
Biblical Principle #6 – We are in a Growth Process

"His master replied, 'Well done, good and
faithful servant! You have been faithful with a
few things;
I will put you in charge of many things. Come

and share your master's happiness!'
~ Matthew 25:21
We are all growing to be more Christlike. Sometimes

God uses money and material possession as a tool, a
test, and a testimony.
Biblical Principle #7 – The Amount is Not

Important
The man who had received the five talents
brought the other five. 'Master,' he said, 'you
entrusted me with five talents. See, I have gained
five more.' "His master replied, 'Well done, good
and faithful servant! You have been faithful with
a few things; I will put you in charge of many
things. Come and share your master's
happiness!'
24 | A b o u t M o n e y
"The man with the two talents also came.

'Master,' he said, 'you entrusted me with two
talents; see, I have gained two more.' "His
master replied, 'Well done, good and faithful
servant! You have been faithful with a few
things; I will put you in charge of many things.
Come and share your master's happiness!'
~ Matthew 25:20-23
The principle for us is simple: the amount we have is

not important, but how we handle what we have been
entrusted with is very important.
Biblical Principle #8 – Faith Requires Action

"Then the man who had received the one talent
came. 'Master,' he said, 'I knew that you are a
hard man, harvesting where you have not sown
and gathering where you have not scattered
seed. So I was afraid and went out and hid your
talent in the ground. See, here is what belongs
to you.' "His master replied, 'You wicked, lazy
servant! So you knew that I harvest where I have
not sown and gather where I have not scattered
seed? Well then, you should have put my money
on deposit with the bankers, so that when I
returned I would have received it back with
interest. " 'Take the talent from him and give it
to the one who has the ten talents.
For everyone who has will be given more, and he

will have an abundance. Whoever does not have,
even what he has will be taken from him.
And throw that worthless servant outside, into

the darkness, where there will be weeping and
gnashing of teeth.' ~ Matthew 25:24-30
Through this parable, we learn that God is calling us to

be stewards. As good stewards, our faith requires
action. The wicked servant knew what was expected of
him, but he did nothing. So, grab your chequebook
and take a look at what it reveals. Your value and
priorities could be written on your chequebook.
Biblical Principle #9 – Commit to a Slow,

Methodical Savings Program
A good saving program requires patience and self-
discipline: In the house of the wise are stores of choice
food and oil, but a foolish man devours all he has.
(Proverbs 21:20).
Biblical Principle #10 – Money Brings Its Own

Problems
Do not get caught up in believing that more money
will solve all your problems. The danger is that the
more money you possess, the more money can possess
you. Use what you have wisely, and you will be fine.
Questions:
1. If God owns it all, what does that mean for me?
2. Have you ever had any major financial setback?
Describe the situation and how you felt.
3. How do you put the above biblical principles into
practice?
G o a l S e t t i n g a n d P l a n n i n g | 27
GOAL SETTING
AND
GOAL SETTING AND PLANNING
PLANNING
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28 |G o a l S e t t i n g a n d P l a n n i n g
W e e k 2 – S e t t i n g G o a l s | 29
Week 2 – Setting Your

Faith Financial Goals
Sometimes we are firefighting and on the run. We take

care of the urgent, focusing only on the pressures of
the day. Often, we do not accomplish our goal because
we do not take time to plan. Without a plan, we
become reactors or responders rather than action
initiators.
Following God’s Plan
We cannot separate our finances from our daily walk

with Christ. When our finances are under control, we
have a better chance of growing our Christian
ministry. In Luke 12:13-21, 34, the parable talked about
a rich man who was not a good steward. By the world’s
standard, he seemed successful but he is not according
to God. He did not acknowledge God in his possession.
He failed to see that he is not the owner but a steward,
and that with his wealth, he was to serve God and his
fellowmen. Jesus did not condemn the man because of
his wealth. The problem was not his money but his
focus and attitude towards it. All he was interested in
was to gather more and more. He was not contented
with what he had.
The amount of riches we have does not keep us from

loving God, but the abundance of wealth may cause us
to put security in money.
Failing to Plan
As the old saying goes, “People don’t plan to fail, they

fail to plan.” Perhaps we do not plan because we do not
know how or because it could involve considering
unpleasant events such as a debt, disability and death.
Examining how we spend God’s money may allow us
to rethink how we spend our money. We can misuse
our God-given financial gifts whatever the size.
Sometimes we may not want to plan because a plan
places us accountable to our spending. But we are
reminded in the parable of the talents that we are all
accountable for what we did with our talents. How do
I set my goals from a faith perspective?
1. Look Ahead, Not at the Past
Learn from your past mistake and move forward to

your future. Focusing on the past leads us to limit our
thinking to our past experience and failure. Remember
God is never limited by our past but He is able to do
beyond what we can think or imagine.
2. Look at God’s Resources, Not Our Own
Focusing on our present resources can also limit God.

Ask, what are God’s resources, and not yours. What
God can do is not limited by our present resources.
3. Look for Common Agreement with Your

Spouse
If you are married, involve your spouse in the goal

setting process. Goal setting is a prayerful process.
W e e k 2 – S e t t i n g G o a l s | 31
I suggest spouse start by first considering your goals

separately and then discussing them together to reach
a common set of priorities.
4. Look at Your Goal Before Making Your

Financial Plans
Do not skip the goal setting process just to get on with

the financial planning. Without the goals, your
financial plan can become meaningless.
Setting Goal
A goal is simply a measurable objective toward which

you believe God wants you to move. A goal is more
than “Wouldn’t it be nice if” or “I’d really like to have.”
A goal needs to be specific, measurable, attainable,
realistic and with timelines.
By setting goals, you are forced to think through

exactly what your financial objectives are. It keeps you
focused and you are less likely to be side tracked.
Planning and goal setting require some uninterrupted

time, attention and commitment. Both goals and plans
need to be written down. Written goals make us more
accountable and provide personal motivation.
Questions:
1. What goals are important to you?
2. What are the personal benefits of accomplishing
your goal?
3. Are you keeping your goals visible so you stay on
the right track?
W e e k 3 W r i t e Y o u r P l a n & G o a l | 33
Week 3 – Write Your Plan and Goal
To man belong the plans of the heart, but from

the LORD comes the reply of the tongue.
~ Proverbs 16:1
What is Planning?
Often Christians question whether they should do any

planning. They ask, “Well, shouldn’t a Christian
depend totally on God?” The answer is yes, but that
doesn’t mean we are to sit at home waiting for God to
deliver manna again! Although some may think so,
this is not God’s design.
Be sure you know the condition of your flocks,

give careful attention to your herds; for riches
do not endure forever, and a crown is not secure
for all generations.
~ Proverbs 27:23-24
Throughout the Bible, we see leaders making plans

and seeing them through for God’s glory. Planning is
an essential element for success in any financial
program – but particularly so for Christians. God is an
orderly provider and expects the same from us. As we
read in Proverbs, there is wisdom in planning.
By wisdom a house is built, and through

understanding it is established; through
knowledge its rooms are filled with rare and
beautiful treasures.
~ Proverbs 24:3-4
Describe the three essential elements in good

planning.
Wisdom Understanding Knowledge
Your overall financial plan, as God’s child, should be to

be an excellent manager of the money God entrusts to
you. Your goals should emanate from the heart of God
rather than from your own fleshly nature or desires.
Invest some time in prayer alone and with another

person whom you know to be sensitive to God’s voice.
Commit to the LORD whatever you do, and your plans
will succeed (Proverbs 16:3).
Once you get the green light from God, write down
your overall plan and your goals. You need to divide
your goals into two categories: short-term and long-
term. The short-term goals represent what you’d like
to achieve within the next three years.
Long-term goals would be your desires for the period

four to ten years from now.
Prioritise each one according to their importance to

you and indicate a specific date by which you plan to
accomplish the goal. A goal without a due date is just
a wish.
Here is a list of possible short-term and long-term

goals to get you started:
W e e k 3 W r i t e Y o u r P l a n & G o a l | 35
Short-Term Goals:
•I will save three months of living expenses by

______________________________________________.
•I will quit my job and start a business by
______________________________________________.
•I will eliminate all credit card debt by
______________________________________________.
•I will take a dream vacation to __________________by
______________________________________________.
•I will move into my own apartment by
______________________________________________.
•I will complete my college degree by
______________________________________________.
Long Term Goals:
•I will save $______________ for my child’s college

education by __________________________________.
•I will purchase a home by
______________________________________________.
•I will invest at least $_________ into my retirement
fund by _______________________________________.
Write or type it in large letters. Start with the words,

“By the grace of God, I will
________________________________________ by
_____________________________________________.”
Again I want to caution you that before you put your

goals in stone, it is important to ask yourself, “Do these
goals represent my vision or someone else’s?”
Do the soul searching before you even start.
Questions:
1. What obstacles or problems might you encounter
in achieving your goals?
2. What additional training or skills do you need?
3. Are there other ways to accomplish your goals? If
so, list them.
W e e k 4 W h e r e A m I ? | 37
Week 4 – Where Am I?
You must determine where you are before you start to

pursue the path to your financial destiny. To answer
the question “Where am I?” you must look at two
aspects of your finances: (1) what you own and what
you owe and (2) what you make and where it goes.
The first aspect is addressed by completing a

Statement of Financial Position or a Balance Sheet. See
the form at Appendix A. This statement summarises
your assets and liabilities.
Statement of Net Worth (Appendix A)
Assets $ Liabilities $
Cash/Near Cash Current
Liabilities
Credit Card
Savings Income Tax
Total Cash/ Total Current
Near Cash Liabilities
Invested Assets Long Term

Liabilities
Stocks/Shares Mortgage
Unit Trusts Car Loan
CPF Balance Renovation
Loan
Total Invested Assets Total
Long-Term
Liabilities
Personal Use Asset Total

Liabilities
Residence
Car
Furniture and Fittings
Total Personal Use Net Worth
Assets
Total Assets Total
Liabilities and
Net Worth
This subject is written to offer guidance for your financial lives. It

is not intended to give specific legal, investment or tax advice. All
principles taught are general in nature and not to be taken as
specific recommendations. Therefore we are not responsible for
the results of any actions taken on the bases of information of this
subject nor for any errors or omission.
W e e k 4 W h e r e A m I ? | 39
Your assets will consist of everything you own that has

value, including bank accounts, paintings, jewellery,
cash value of whole-life insurance policies, and so
forth.
Now we will move on to your liabilities. Here you will

include instalment debt, credit card balances, personal
loans, home mortgage, and everything you owe.
This information is summarised on a Statement of

Income and Expenditures. See the form at Appendix B.
Statement of Cash Flow (Appendix B)

1 January to 31 December _____ (Year)
Inflows $ $
Salary
Bonus
Interest Income
Total Inflow
Less Expenses
Housing
Food
Clothing
Transportation
Entertainment/Recreation
Medical
Insurance
Children
Gifts
Loans
Vacation
Credit Card
Groceries
Utilities
Telephone
Miscellaneous
Total Outflow
Net Cash Flow
This subject is written to offer guidance for your financial lives. It

is not intended to give specific legal, investment or tax advice. All
principles taught are general in nature and not to be taken as
specific recommendations. Therefore we are not responsible for
the results of any actions taken on the bases of information of this
subject nor for any errors or omission.
W e e k 4 W h e r e A m I ? | 41
Again, I’m going to caution you to be really honest

here. Some people sabotage this process by listing
what they feel they should be spending vs. their reality.
It is extremely important to complete this exercise
because it reveals your real financial priorities, not
what you claim they are.
At this point, we do not need to attempt to make any

changes in how you spend or operate. We are just
trying to identify where the problems are in your
current spending. You will probably be shocked to see
where the money is going. Personally, I was shocked to
see how much I spend on eating out. My immediate
response was to cut down some of my expenses
eventually.
Questions:
1. Where are you now?
2. Are you satisfied with your findings?
3. Are you keeping your goal visible so you stay on
the right track?
W e e k 5 P r e p a r e Y o u r P l a n | 43
Week 5 – Prepare Your Plan
Now that you have determined where you stand, you

are ready to chart your course – not to riches, but to
financial freedom. Financial freedom is simply being
free from anxiety about financial matters. Developing
and implementing an effective spending plan.
Working on your budget involves four major actions.
(1) Determining where you are currently spending the

money.
(2) Evaluating your spending in light of your financial
goals.
(3) Identifying and eliminating behaviours or
circumstances that lead to unnecessary spending.
(4) Monitoring your ongoing expenditures to make
sure they are consistent with your financial goals.
Whatever goals you set, your strategy must be

designed to take you in that direction. For example, if
you have a long-term goal of saving enough money for
a down payment on a house, you cannot continue to
purchase designer clothes on your credit card each
month.
Analyse your living expenses in totality by completing

a detailed cash flow summary. Analyse, where does all
the money go? Reduce your expenses and debts so as
to increase your cash flow margin.
Your Cash Flow Analysis Summary
Before After Action

Planning Planning Steps
Inflows $ $ $
Salary
Bonus
Other Income
Total Inflow
Less Expenses
Housing
Food
Clothing
Transportation
Entertainment/
Recreation
Medical
Insurance
Children
Gifts
Loans
Vacation
Credit Card
Groceries
Utilities
Telephone
Miscellaneous
Total Outflow
Net Cash Flow
Increase
Cash Flow
Margin
W e e k 5 P r e p a r e Y o u r P l a n | 45
Questions:
1. Where are the four major actions to note in budget
planning?
2. Are you willing to make changes in your spending?
3. What are your objectives and cash flow margin
that you want to create?
W i s e S p e n d i n g | 47
WISE SPENDING
WISE SPENDING
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48 |W i s e S p e n d i n g
W e e k 6 B u d g e t i n g & S p e n d i n g | 49
Week 6 – Budgeting and Spending
One of the smartest ways to gain control of your

money is by developing a spending plan, more
commonly known as budget. Establishing a budget
just means you have decided to tell your money where
to go, directing it with purpose and intent. A budget
is simply a plan for your spending, which allows you to
manage your money in order to reach your financial
goal.
To have a budget will allow you not to spend aimlessly.

You will not have to depend on your credit cards or
loans to fund your monthly deficits. Our goal as God’s
steward is to live by a plan that orders our savings and
spending. And in order to have to make a budget work,
you must exercise self-control. My advice to you is to
set up a goal. Do not focus on what you are giving up
or cannot do. Focus on what the discipline of a budget
now will allow you to do in the future. You may feel a
little uncomfortable but do not give up. It will take
typically three months to see your result. Remember
to write it down on paper or use a computer software
program. If you are married, involve your entire family
in the process. Budgeting is a group effort that works
best when everyone is involved.
Some of you may have started on a budget but it do

not seem to work. The reason most people’s budgets
do not work is because they continue to spend more
than they make.
My advice is that you have to make some drastic

adjustment to your lifestyle to make it work. Of course,
you have to be realistic in setting your budget. Ensure
that you allocate a certain budget on your daily
expenses and stick on with it. Remember, having a
budget does not mean you will never go to the movies
or a restaurant. Be real to yourself and then do your
best to stay within those parameters.
My advice to you is that you stay away from people,

places and things that tempt you to spend. Sometimes
people in your life can trigger excessive spending and
bust your budget. Some places may also prompt
unceasing spending. Stick on to your budget and avoid
those places.
So in order to balance your budget and save money,

you need to reduce your expenses and increase your
income. Track your spending and hold yourself
accountable to God and the people of God. Allow the
word of God to provide answers to your questions and
concerns regarding money. Open yourself to God’s
people and professionals to give you a broader
perspective and alternative about your finances.
Do not hesitate to consult your Financial Planner,

spouse, friend or church leader in order to achieve
your goal.
God cares about how we spend our money. As a matter

of fact, every spending decision we make is a spiritual
decision. Why is that so? It is because everything we
have belongs to God.
W e e k 6 B u d g e t i n g & S p e n d i n g | 51
Since God owns it all, and we are just His stewards, we

have the responsibility to be faithful with His money.
Questions:
1. What can I do to help myself get started on a
budget and stick to it?
2. What can I do to balance my budget and save
money?
3. Does God really care how we spend our money?
W e e k 7 L e t G o o f a L u x u r y | 53
Week 7 – Let Go of a Luxury
I know what it is to be in need, and I know what

it is to have plenty. I have learned the secret of
being content in any and every situation,
whether well fed or hungry, whether living in
plenty or in want.
~ Philippians 4:12
How married are you to your current lifestyle? Have

you enjoyed certain luxuries for such a long time that
you feel entitled to them? He who loves pleasure will
become poor; whoever loves wine and oil will never be
rich (Proverbs 21:17). If you are trying to tame your
finances, then it’s time to distinguish between your
necessities and your luxuries. You may indeed have to
forego a luxury or two in order to reach your financial
goals. Jesus let go of the luxuries of heaven in order to
achieve His goal on earth.
First of all, it depends on how big of a mess you are in,

how ingrained your luxuries are, and how badly you
want to get on the road to financial freedom. Second,
you must realize that you will need divine enablement
to exercise the discipline to let some things go.
Jesus reminds us that apart from me you can do nothing

(John 15:5b). For every step you will take in your
journey to your financial goals, you must stop and ask
God for the strength to go forward.
You can start now by asking God to take the desire out
of your heart to spend money on things that are really
just indulgences. The Scriptures admonish us to not
love the world or anything in the world (1 John 2:15a).
Your love for the things of this world will only fade
with the help of your heavenly Father.
When you have a consumerist lifestyle, spending more

than you can afford, especially by relying on credit
cards, you allow the magic of compounding to work
against you. Living expenses and debts sometimes go
hand in hand. Remember, you cannot borrow your
way to prosperity.
Questions:
1. How married are you to your current lifestyle?
2. Are you prepared to get rid of your luxuries? If yes,
what is it?
3. What does Philippians 4:12 mean to you?
W e e k 8 C e a s e C o m p a r i n g | 55
Week 8 – Cease Comparing
"You shall not covet your neighbor's house. You

shall not covet your neighbor's wife, or his
manservant or maidservant, his ox or donkey, or
anything that belongs to your neighbor."
~ Exodus 20:17
Make a commitment to yourself that you will only buy

what you can afford. Studies show that people who live
beneath their financial means have longer and more
fulfilling lives than those who do not. Sometimes the
pressure to maintain a certain image or to live up to
other people’s expectations is so great that, if you are
not careful, you will allow those expectations to force
you to live above your means. To live above your
means is to live a lie. A lie is any intent to deceive. Your
attempt to deceive others into thinking you can afford
things you cannot will keep you in a financial pit.
Furthermore, comparing your material goods to those

of others is a no-win situation. If you determine you
have more stuff than the Joneses, you may fall into
pride.
If you conclude that your possessions fall short of

theirs, you may envy them, attempt to catch up by
acquiring more, and end up in the pit of debt.
In my industry, I do sometimes face the pressure of

trying to catch up with the Joneses, I have seen
Financial Planners own branded bags, luxurious cars
and buying landed property. I own a Saab car and stay
in a condominium. Does this motivate me to run out
and buy an additional bigger car and house?
Absolutely not. I have no desire to impress others by
what I own. There is no need for me to resort to
comparing and competing.
You would be wise to set your own standard of how

much stuff and other pleasures you will indulge in. Ask
yourself, “What do I really enjoy?” versus “What must
I buy to keep up?”
Questions:
1. What do you really enjoy?
2. What must you buy to keep up?
3. Can you make a commitment to yourself to buy
only what you can afford? If yes, why? If no, why
not?
W e e k 9 S p e n d S m a r t | 57
Week 9 – Spend Smart
Wisdom is a shelter as money is a shelter, but

the advantage of knowledge is this: that wisdom
preserves the life of its possessor.
~ Ecclesiastes 7:12
Unlike smoking, drinking and other bad habits,

shopping is necessary to sustain your daily life.
Therefore, we need to exercise wisdom and discipline
in how we spend. Let us look at some areas where we
can be a smart shopper.
Electronic Shopping
Electronic shopping has seduced many into buying
items that they do not need or use once they have
acquired them. Do not be fooled by the conveniences
of ordering those items which you do not need.
Basic Clothing
When you must limit your shopping budget, consider
buying items that you can pair with other outfits in
your wardrobe. Do you really think that it is wise to
buy those hot pink shoes to match those hot pink
pants?
Why not try a black pair you can wear over and over
again? Before you go shopping, do a quick inventory of
your closet to see which basics (white shirt, black
skirts, etc.) are most needed.
If you must, you can buy some relatively inexpensive

trendy accessories to spruce up your wardrobe.
Used Cars
I am often reminded that “the blessing of the LORD
makes a person rich, and he adds no sorrow with it”
(Proverbs 10:22 NLT). Because a new vehicle loses so
much of its value immediately when you drive it off the
lot, a two- to three-year-old used car can often be a
better investment. Of course, it goes without saying
that before you buy, you will have the car checked out
by a good mechanic.
Questions:
1. Are you too proud to use second hand cars?
2. Is there any areas in your spending that need
trimming?
3. How can you resist the temptation to spend?
W e e k 1 0 E a t E c o n o m i c a l l y | 59
Week 10 – Eat Economically
A man can do nothing better than to eat and

drink and find satisfaction in his work. This too,
I see, is from the hand of God.
~ Ecclesiastes 2:24
Cook in Bulk
You can devote a few hours to the kitchen and cook
several of your favourite entrees at once. Put them in
meal-sized portions in freezer bags. This really is a
healthier and less expensive route. Eating out is
enjoyable, but it can really blow your budget. When
eating out, try the money saving strategies below to
tame the cost of this increasingly popular pastime.
Pre-Determine Your Ordering Limit

When I take my staff out for one of our morale-
building lunches, I give myself a flat spending limit to
keep them from going overboard. Here is how it works.
To determine how much we can order before taxes,
simply deduct one-fourth or 25% off your total limit.
For example, if your limit is S$20, take one-fourth off
(S$5) and limit your order to S$15. When you add back
the 7% goods and services tax (GST) and a 10% sales
charge, the total will be close to S$20 without
exceeding it.
Split a Meal
Depending on the serving size, I often split a meal and
certainly the dessert with my close friend. You would
be surprised at how little it takes to satisfy your
appetite. I’m just now getting it in this area. I was
raised with a get-full, clean-your-plate mentality.
Pay Your Share Only

Here is a common scenario. You enjoy the company of
friends or co-workers who are big spenders and who
always want to divide the restaurant bill equally. You
normally sit there and stew because your share should
only be $20, but it is now $50 because of their drinks,
appetizers, and desserts – none of which you have
ordered because you are on a budget or a diet. You do
not want to appear to be a cheapskate, but these
outings can cause you to blow your entire lunch
budget for the week.
Questions:
1. How can you eat economically, moving forward?
2. Is there any ideas you can apply after reading this
chapter?
3. How can your friends or spouse support you in
making the changes?
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Week 11 – Restructure Your Recreation
Every day they continued to meet together in the

temple courts. They broke bread in their homes
and ate together with glad and sincere hearts,
~ Acts 2:46
Recreation is a spiritual endeavour. In fact, Jesus was

adamant about His disciples taking time to rest and
regroup from all of their activities. I find it interesting
that when they returned from their evangelistic tour
and excitedly reported the success they had achieved,
Jesus did not respond with an “attaboy” or a “keep it
up.”
Then, because so many people were coming and

going that they did not even have a chance to
eat, he said to them, "Come with me by
yourselves to a quiet place and get some rest."
So they went away by themselves in a boat to a
solitary place.
~ Mark 6:31-32
But are you one of these people who insist on engaging

high-cost activities? Jesus knew that if His disciples
failed to shut down periodically for rest and recreation
they would become ineffective. We must stay on guard
and understand that Satan wants us to go from one
extreme to the other – all work or all play.
Do you find the idea of eliminating or cutting back on

these sports unthinkable? If you want to tame your
out-of-control finances, then there can’t be any sacred
cows or off-limit activities. You simply must take a
hard look at your spending plan and see how often you
can reasonably indulge in these upscale activities.
Keep in mind that you are a steward of the resources
God has entrusted to you and that He will extend to
you as much money as you prove you can handle.
What happened to jogging, bike riding, swimming,

and other low-cost alternatives to pricey pastimes?
I’m sure you can name loads of things you can do to

spend less on recreation. Take a moment and commit
to at least one thing you can do right away.
When you get serious about taming your finances, you

will understand that change and financial discipline
must extend to every area possible.
Questions:
1. Do you find the idea of eliminating or cutting back
on expensive sports unthinkable?
2. Can you pick up jogging, bike riding or swimming
that is less expensive?
3. Can you find someone to encourage or run
alongside with you for new hobby or recreation?
W e e k 1 2 S p e n d i n S y n c | 63
Week 12 – Spend in Sync with Your Spouse
Do two walk together unless they have agreed to

do so?
~ Amos 3:3
Financial issues are the number one reason for failed

marriages. Most couples would do well to understand
the nature of a general business partnership and to
model certain aspects of their marriages accordingly.
For example, in a business partnership, the partners
must practice full disclosure of financial information.
There is no hiding of assets or details of transactions.
Each partner agrees to the goals and objectives and has
say in all aspects of the enterprise.
Every couple needs to be in agreement on their major

purchases. “Major” will be different for each couple
because it is determined by their household income.
Each couple must decide the maximum dollar amount
that each may spend without consulting each other.
Any amount above this will require complete
agreement. Stick to what has been agreed.
Trust me, this is important. If you do not get in

agreement, should the deal go sour the tendency is to
point fingers.
A significant amount of conflict could be avoided at

the outset of marriage with effective communication
about finances. Most couples just assume that
everything will work out after they say “I do,” only to
discover very shortly that the response to certain
financial issues is “I don’t.” I believe couples that plan
to have a godly marriage would be well served by
having a good heart-to-heart conversation to make
sure they share the same financial views and have put
all of their financial issues on the table. Most find that
this task has too much potential for conflict, so they
avoid it.
If you are contemplating marriage, then you must ask

God for the courage to confront these issues before
they arise. If you are already married and you are
experiencing financial problems, invite God to come
into your situation and start talking to each other.
Finger-pointing about the past will be useless. If there
is a need, do seek professional help.
Questions:
1. Do both of you believe in or practise tithing to the
church?
2. Do both of you systematically save money out of
your income?
3. Do you have a common agreement on your major
purchases?
W e e k 1 3 P a r e Y o u r P r e s e n t s | 65
Week 13 – Pare Your Presents
Each man should give what he has decided in his

heart to give, not reluctantly or under
compulsion, for God loves a cheerful giver.
~ 2 Corinthians 9:7
It seems that there is always a holiday or special day of

observance that requires us to buy a gift for somebody.
I realized that we had purchased some of the gifts
reluctantly or in response to the expectations of
others.
I have seen many people create a financial monster

they never have the courage to slay. I am not
recommending stinginess, but if you need to tame
your finances, you must forge some brave, new
disciplines. I know that some people, especially those
with low self-esteem, going cold turkey and just saying
“no more” will be too much, so I’m recommending that
all financially challenged folks start to buy smaller and
different types of gifts.
When it comes to those special days of recognition,

you do not always have to send expensive flowers –
except maybe on Valentine’s Day (even then, your wife
or girlfriend should understand a pared-down
version). Focus on being thoughtful on a daily basis;
that will mean more than a one-day obligatory
observation.
Christmas gifts seem to pose the greatest challenge –

all for no long-term benefit. For instance, what were
the three most memorable gifts that you received for
Christmas last year? Can’t remember? I assure you that
the people whom you gave gifts will have the same
problem recalling them.
When you get to the point where your finances are

stable and you are enjoying abundance, give according
to your ability and your desire – and do it cheerfully.
Questions:
1. Do you feel obliged to give during Christmas
season?
2. What were the three most memorable gifts that
you received for Christmas last year?
3. Do you prefer to receive a gift from your loved ones
in exchange of his/her time spend with you? If no,
why not?
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Week 14 – Stop Buying on Impulse
She considers a field and buys it; out of her

earnings she plants a vineyard.
~ Proverbs 31:16
Impulsiveness is shunned in the Scriptures. The plans

of the diligent lead to profit as surely as haste leads to
poverty (Proverbs 21:5). This tendency towards
hastiness is what leads us down the path to debt. We
are the “now” generation, and in general we do not like
delaying our gratification.
Many times God tries to protect us from our hasty

decisions by throwing up red flags and putting up
road-blocks all around us. But what do we often do?
Put our heads in the sand and ignore them. Be careful
if you are about to enter a transaction and things start
falling apart.
Finally, we didn’t want to be like the wicked, lazy

steward Jesus spoke of in Matthew 25 who buried the
money he had been entrusted with rather than invest
it. We really were trying to be good stewards. We
wanted to maximize the return on our idle funds. We
are much smarter today.
The Proverbs 31 woman considered her field before she

bought it. Even if you are certain that something is a
great idea, you should make it a habit of pondering
your purchases.
Stop buying on impulse. The next time you are at the

shopping mall or your favourite store and you get the
urge to spend, just don’t do it. Instead, go home and
ask the Lord whether you should make the purchase.
Give yourself 24 hours to think about big-ticket

purchases. Before you buy, ask yourself, “Is this a need
or a desire?” Can I afford it?”
Questions:
1. Do I really need it?
2. Will I use it immediately?
3. How can I glorify God with this purchase?
W e e k 1 5 W a t c h W a s t e f u l n e s s | 69
Week 15 – Watch Wastefulness
When they had all had enough to eat, he said to

his disciples, "Gather the pieces that are left
over. Let nothing be wasted."
~ John 6:12
Jesus set a great example for frugality. Even though He

had performed a miracle and fed a crowd of 5,000 men
and an undisclosed number of women and children
with only five loaves and two small fishes, He
instructed His disciples to gather up the leftovers.
When it was all said and done, they had gathered 12
basketfuls. “Now, Jesus,” you may wonder, “was that
necessary? You could have thrown that extra bread
away. All you had to do was perform another miracle
and make more bread when You needed it.” Through
His actions, Jesus was showing the importance of not
squandering what God has provided – even when it
appears that you do not need the excess.
Are you wasteful in any area of your life, or do you

actively seek ways to practice frugality? For instance
do you allow your children to open a can of soda, take
a few sips, and then trash it? As Benjamin Franklin
said, “A penny saved is a penny earned.” I can’t think
of a single thing I have ever purchased that has
brought more joy than writing a check to someone
who desperately needs it. We are never more like
Christ than when we are giving.
I want to be careful to balance our discussion by

warning that we should not allow our desire to be
frugal to keep us from fully enjoying the things that are
within the bounds of what God allows.
Frugality is not a call to poverty, and it certainly should

not take the fun out of our lives. It is important that
we enjoy the abundant life that Christ came to give us.
It is equally important to understand that abundance
is not to be equated with extravagance. God blesses
His children with abundance so that they can bless
others with their overflow. If we are all poverty-
stricken, how will we have an overflow?
Frugality is simply avoiding waste. Frugality is

evidence that God can trust you with increased
resources because you have learned how to manage
what He has already supplied.
Questions:
1. Is there a difference between being frugal and
wastefulness?
2. Are you wasteful in any area of your life or do you
actively seek ways to practice frugality?
3. Do you always turn the lights off when you leave
the room?
G i v i n g a n d S h a r i n g | 71
GIVING
AND
GIVING AND SHARING
SHARING
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Week 16 – How Should We Give?
Honor the LORD with your wealth, with the

firstfruits of all your crops;
~ Proverbs 3:9
The real issue is not how much of your money you plan
to give to God, but rather how much of His money you
will keep for yourself.
Tithes
The top priority in a God-honoring financial strategy

is to address your obligation to Him through the
paying of your tithe.
If you are one of those people who say you cannot

afford to tithe, I want to tell you why this may be so.
You may not have made this act of worship the top
priority in your finances. What you are really saying is
that by the time you pay all of your bills and other
priorities, nothing is left over. Well, dear friend, God
does not want what’s left. He wants what’s right. You
can always afford anything that comes off the top.
I view my tithes the same way that I view my car

insurance premiums. Paying for the coverage is in the
best interest of the owner, for it protects him against
loss.
When one has obeyed the law and secured the

required insurance, he can rest assured that he will not
lose everything he owns if he should have a car
accident. In the same way, when I pay my tithe, I am
insuring myself against lack. Because I have fulfilled
the requirement, I rest assured that God has me
covered financially.
Bring the whole tithe into the storehouse, that

there may be food in my house. Test me in this,"
says the LORD Almighty, "and see if I will not
throw open the floodgates of heaven and pour
out so much blessing that you will not have
room enough for it.
~ Malachi 3:10
God challenges us to put Him to the test – even when

you have very little. Look at what He did for the widow
who shared the very last of her food supplies with the
prophet Elijah. She went away and did as Elijah had told
her. So there was food every day for Elijah and for the
woman and her family. For the jar of flour was not used
up and the jug of oil did not run dry, in keeping with the
word of the LORD spoken by Elijah (1 Kings 17:15-16).
God rewards obedience.
Offerings
Notice that we pay the title (or tenth) because it is

required. A second level of giving over and above the
tithe is offerings. An offering is like the tip on a meal
in a restaurant.
W e e k 1 6 H o w S h o u l d W e G i v e ? | 75
To say, “I’m just going to give an offering because I

can’t tithe” is like saying, “I’m just going to give a tip
because I cannot afford to pay for the food.”
Alms
The third level of financial obedience is alms. These

are the deeds we do for others in the form of money or
goods.
God sets a great store by alms. Proverbs 19:17 says, he

who is kind to the poor lends to the LORD, and he will
reward him for what he has done. Imagine it.
Remember our giving is a by-product of faith. Our

giving is an outward expression of our priorities and
our hearts.
If we put God first in our lives, our wallets will be

opened.
1. We give to God our first fruits.
2. We give in proportion to the income we receive.
3. We give sacrificially which usually includes a
rearrangement of priorities or a change in lifestyle.
Let us give cheerfully because it is more blessed to
give than to receive.
Questions:
1. How much of God’s money shall I keep?
2. How does your giving help your spiritual growth?
3. What does sacrificial giving mean to you?
W e e k 1 7 S a v e S t r a t e g i c a l l y | 77
Week 17 – Save Strategically
Ants are creatures of little strength, yet they

store up their food in the summer;
~ Proverbs 30:25
I am amazed to see how little cash middle-class baby

boomers have saved. Many own homes and cars that
carry huge corresponding loans. Very few have made
any preparations for a disaster. Their lifestyle as the
‘now’ generation is every evident. I am reminded of
King Solomon’s warning, a prudent man sees danger
and takes refuge, but the simple keep going and suffer
for it. (Proverbs 22:3).
The fact is everybody needs an emergency cash

reserve. The amount of the reserve depends on your
living expenses. Most financial advisors recommend at
least six months.
Set up a plan whereby you save something each pay

period. The most critical aspect of a savings plan is that
it needs to be consistent. Try to get an automatic
deposit to a savings account.
In terms of an overall savings strategy, the first priority

is to establish a small emergency cash reserve. Then
contribute the maximum amount you can to your
saving plan, pay down your consumer credit,
accumulate a 3-6 months’ living expense reserve, and
invest in a home, investment property, or other long-
term instruments.
Stay balanced in your approach to savings. Ants

provide a good model. They are very wise in their
forethought and planning. However, we are not to
conclude that ants spend all of their efforts in the
summer preparing for the winter. They do eat some of
their food on a current basis, otherwise they would
perish. And so it is with man.
So to achieve the savings you want, consider the

following saving approach.
Systematic Saving
More savings can be accumulated through a
disciplined, habitual saving approach. You might be
able to afford $100 into a savings plan at the first of
every month. However, if you wait to save what is
leftover at the end of the month, there may not be
anything to save. For savings to become a reality, treat
your savings as a regular expense. Set up a giro account
just for your savings and give it high priority.
W e e k 1 7 S a v e S t r a t e g i c a l l y | 79
In Proverbs, Solomon related how we can learn from

the wisdom of ants who store their provisions from
today’s bounty for future use, ants are creatures of little
strength, yet they store up their food in the summer;
(Proverbs 30:25).
Tax-Advantage Saving
As Singaporeans, we can create an account called a
Supplementary Retirement Scheme (SRS). Every dollar
you contribute into that account reduces your taxable
income. So if your tax rate is 7%, contributing S$12,750
a year effectively saves you S$892.50 in taxes every
year. It is purely voluntary, meaning that you can
contribute any amount you like, up to a cap of S$12,750
a year. By not paying S$893 in taxes, that means that
you have earned a guaranteed 7% return on your
S$12,750 for that year. Of course, there are certain
limitations to this account, such as the early
withdrawal penalty before age 62. Do check with your
financial planner for more details.
I have an overall philosophy on how we handle our

money: give some, save some, spend some.
Questions:
1. Are you saving nearly 10% each month?
2. Have you embarked on a savings or an investment
program to achieve your goal?
3. Do you have a diversified investment portfolio?
W e a l t h a n d P r o s p e r i t y | 81
WEALTH
AND
PROSPERITY
WEALTH AND PROSPERITY
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W e e k 1 8 T r u e W e a l t h | 83
Week 18 – True Wealth
God’s Definition of Wealth
When we hear someone talk about wealth, we usually

have an image of stacks of money, luxury cars and
houses and so on. Currently, wealth is often expressed
in tangible assets – things people could see and touch.
It also represents power, so it is not unusual that most
people want as much of it as they can get.
Stock market and property market booms have created

many millionaires. And here you are, working hard,
even struggling to get ahead in your financial
situation. Why should it be so hard for you when
financial success seems to come so easily to others?
But clearly, for God’s people, wealth should mean
more than just the accumulation of material
possessions.
God is concerned with our attitude about money and

possessions. Sometimes I notice that some Christians
allow their abundance or lack of money affects their
relationship with Him. As Christians, we must learn
how to trust God in plenty and in want, just like Paul.
Of course, it is easier said than done to really trust God
in plenty and in want.
It is not God’s design for Christians to live in poverty.

God opposes the misuse of or the preoccupation with
wealth – not wealth itself.
My Observation
 Many people equate wealth with happiness but
evidence shows otherwise.
 It is not easy to handle money. Many times our true
priorities are revealed through the way we use our
resources.
 There is a danger of wealth. 1 Timothy 6:10a warns
us the love of money is a root of all kinds of evil.
 The problem of being wealthy is we tend to rely on
our wealth rather than God and one way to skirt
around this situation is to start giving. True wealth
comes from the gift of giving.
What does God say about money and happiness in the

following verses:
o 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).
o The blessing of the LORD brings wealth, and he
adds no trouble to it. (Proverbs 10:22).
o Wealth is worthless in the day of wrath, but
righteousness delivers from death. (Proverbs 11:4).
o Humility and the fear of the LORD bring wealth and
honor and life. (Proverbs 22:4).
o With me are riches and honor, enduring wealth and
prosperity. (Proverbs 8:18)
o For the love of money is a root of all kinds of evil.
Some people, eager for money, have wandered from
the faith and pierced themselves with many griefs. (1
Timothy 6:10)
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o Then Jesus said to his disciples, "I tell you the truth,
it is hard for a rich man to enter the kingdom of
heaven. Again I tell you, it is easier for a camel to go
through the eye of a needle than for a rich man to
enter the kingdom of God." When the disciples
heard this, they were greatly astonished and asked,
"Who then can be saved?" Jesus looked at them and
said, "With man this is impossible, but with God all
things are possible." (Matthew 19:23-26).
Questions:
1. What does Proverbs 10:22 mean to you?
2. What does God say about money and happiness in
1 Timothy 6:17?
3. Realistically, what can we expect from God in
Proverbs 8:18?
W e e k 1 9 T h e D a n g e r & M o t i v e s | 87
Week 19 – The Danger and Motives for

Accumulating Wealth
Why People Want to Accumulate Money
Now that we notice wealth is for Christians, we will

examine why we should accumulate wealth. Money
can be used to meet our needs and also can provide as
a resource for other spiritual uses. But money can also
lead to covetousness and idolatry.
I have seen how money can ruin marriages, spoil

children and breed dishonesty. Therefore, it is vitally
important to understand God’s principles for
accumulating wealth. If Christians accept giving as a
privilege and ministry, then accumulation of wealth
has a whole new meaning. We must remember that
with the ability to make money comes the
responsibility to give and share with others.
People want to accumulate money because they want

to appear successful in the eyes of people. They let the
society, friends and family define their success and
financial priorities. We should seek godly counsel
rather than opinion from any person. Others
accumulate money out of envy or competition. They
just want to win or compete with their peers.
We usually like to receive honour and recognition for

what we accomplish. The accumulation of material
things feeds our egos. Sometimes, unfortunately, we
Christians want to be seen with the right people.
We use our status and wealth to feed our ego and

purchase our self-esteem.
But in 1 Timothy 6:17-18, the rich are told to avoid being

conceited or to fix their hope on the uncertainty of
riches but on God. They are instructed to do good, to
be rich in good works, to be generous and ready to
share. Money in itself is neither good nor bad, but it is
the use of it that will matter eternally.
We are warned not to hoard and store money. Our

lives should not be characterised by stinginess. The
love of money is the root of evil. Many of us
accumulate wealth for protection. So we accumulate
much because we do not trust God to provide. My
philosophy is save some, spend some and give some.
The only one reason God allows us to have a surplus

above our own needs is to enable us to give. True
wealth comes from the gift of giving. God is ever ready
to find a good steward who will share freely.
The Danger of Money
Just as God can use money to enhance and direct our

lives, Satan can also use it to shackle us and get us off
track. Christians should learn the power and danger of
money. Money can entangle and cause financial
bondage.
"Two things I ask of you, O LORD; do not refuse

me before I die: Keep falsehood and lies far from
me; give me neither poverty nor riches, but give
me only my daily bread.
Otherwise, I may have too much and disown

you and say, 'Who is the LORD?' Or I may
become poor and steal, and so dishonor the
name of my God.
~ Proverbs 30:7-9
The above verses talk to us about the danger of riches

and poverty. In our Singaporean society, I have noticed
that more and more people are in debt. One of the
common causes of bondage is the abuse of credit.
The rich rule over the poor, and the borrower is

servant to the lender.
~ Proverbs 22:7
This verse makes us cautious about borrowing. Half of

the people counselled by credit counselling in
Singapore over debt problems said the main reason
was overspending, including buying brand-name bags
and clubbing (Straits Times 21st December 2014).
Imagine the interest on outstanding balances now
ranges from 24.9 percent to 25.92 percent and our
average bank savings deposit rate is a measly 0.11
percent.
It is easy to rationalize an indulgent lifestyle in our

society. People who are never willing to sacrifice or
deny impulses to spend will always be in financial
bondage. The Bible warns us about the importance of
exercising self-control. But what about people who are
living in abundance? Are they being spared?
Not really. Financial bondage can also exist even with

an abundance of money. The accumulation of wealth
can become an obsession that will destroy our health,
marriage and friends. Suddenly everything and
everybody can become objects of making money.
I am reminded again and again not to use people but

use things. That I am to love people but use things.
That I am to love people and not serve money but to
serve God alone. If we are always thinking of making
more and more money every moment and not God, we
are in danger.
Bible warns us, "No one can serve two masters. Either
he will hate the one and love the other, or he will be
devoted to the one and despise the other. You cannot
serve both God and money (Matthew 6:24).
We are living in an instant society. We have instant

noodles, 3-in-1 coffee and as a result, we may also
develop a get-rich-quick attitude.
A faithful man will be richly blessed, but one

eager to get rich will not go unpunished.
~ Proverbs 28:20
There are two promises given in this verse. First, the

faithful will abound with blessings, and second the
hasty will not go unpunished. Having said that, I am
not advocating passivism or laziness.
God condemns slothfulness and He warns us the result

of this dangerous attitude in Proverbs 21:25-26,
The sluggard's craving will be the death of him,

because his hands refuse to work. All day long
he craves for more, but the righteous give
without sparing.
For even when we were with you, we gave you

this rule: "If a man will not work, he shall not
eat."
~ 2 Thessalonians 3:10
Sometimes Christians are being deceived. When they

are not prepared to work hard, they sometimes make
excuses like “I am praying and waiting upon the Lord”,
or “I am exercising my faith” or “I cannot be both
successful and spiritual.” To me, this is the lie of the
enemy.
One of the greatest challenges of living in Singapore is

fighting against materialism. We consistently crave for
more things. We covet over what we do not have, and
the Bible warns us not to associate with any so-called-
brother, not even to eat with such one (1 Corinthians
5:11).
Beware of self-indulgence. If we are not willing to deny

the impulse to spend, we will always be in a spiritual
and financial bondage. Think back to a time when you
purchased something you really wanted.
Remember the delight you had in that item when it

was new? What about now? Do you still feel the same
joy or has the pleasure decreased? A Lasting sense of
pleasure and security is found only in God.
Seek the Lord through His word and in prayer, and we

will learn to delight in Him and discover enduring
satisfaction for our soul.
Questions:
1. What is your motive of accumulating money?
2. What is the real danger of greed in 1 Timothy 6:10?
3. What are the rich to avoid in 1 Timothy 6:17-18?
W e e k 2 0 G o d ’ s W a y o f P r o s p e r i t y | 93
Week 20 - God’s Way of Prosperity
Do you not want to know under what circumstances

would God prosper His people? Perhaps there are
some key principles we must know and obey in order
for God to release prosperity into the body of Christ.
#1 Obey the Lord
If you fully obey the LORD your God and

carefully follow all his commands I give you
today, the LORD your God will set you high
above all the nations on earth. All these
blessings will come upon you and accompany
you if you obey the LORD your God… The LORD
will grant you abundant prosperity--in the fruit
of your womb, the young of your livestock and
the crops of your ground--in the land he swore
to your forefathers to give you… However, if you
do not obey the LORD your God and do not
carefully follow all his commands and decrees I
am giving you today, all these curses will come
upon you and overtake you:
~ Deuteronomy 28:1-2, 11, 15
God left no doubt about the kinds of blessings in store

for those who obey Him. No matter when we live, what
we do, or where we go, blessings come as a result of
obedience and curses come as a result of disobedience.
#2 Seek the Prosperity of Your Soul
Dear friend, I pray that you may enjoy good

health and that all may go well with you, even as
your soul is getting along well.
~ 3 John 1:2
The apostle John prayed that we prosper physically

and financially in direct proportion to how much our
soul prospers. King Solomon said, He who obeys
instructions guards his life, but he who is contemptuous
of his ways will die. (Proverbs 19:16). The prosperity of
our soul can only come through the meditation and
application of God’s word.
#3 Acquire Wisdom and Knowledge
God said to Solomon, "Since this is your heart's

desire and you have not asked for wealth, riches
or honor, nor for the death of your enemies, and
since you have not asked for a long life but for
wisdom and knowledge to govern my people
over whom I have made you king, therefore
wisdom and knowledge will be given you. And I
will also give you wealth, riches and honor, such
as no king who was before you ever had and
none after you will have."
~ 2 Chronicles 1:11-12
When Solomon asked for God’s wisdom and

knowledge, God granted to him and on top of this, He
also granted him riches, wealth and honour.
#4 Bless and Pray for Israel
The LORD had said to Abram, "Leave your

country, your people and your father's
household and go to the land I will show you. I
will bless those who bless you, and whoever
curses you I will curse; and all peoples on earth
will be blessed through you."
~ Genesis 12:1, 3
He promised to release His blessing on all those who

follow His commandment, to bless Israel and to curse
all those who curse Israel.
Pray for the peace of Jerusalem: "May those who

love you be secure. May there be peace within
your walls and security within your citadels."
For the sake of my brothers and friends, I will

say, "Peace be within you." For the sake of the
house of the LORD our God, I will seek your
prosperity.
~ Psalm 122:6-9
God also commands us to pray for the peace and

prosperity of Jerusalem.
#5 Honour the Lord with Our Wealth

firstfruits of all your crops; 10 then your barns
will be filled to overflowing, and your vats will
brim over with new wine.
~ Proverbs 3:9-10
The Old Testament Jews brought the Lord the

firstlings of their flocks (Exodus 13:1-2) and the first
crops of their fields (Leviticus 23:9-14) and in this way
acknowledged God’s goodness and sovereignty. I
believe that when we give tithes and offerings to God,
God can use it as a tool to help us overcome the love
of money.
#6 Be Generous to the Poor
A generous man will himself be blessed, for he

shares his food with the poor.
~ Proverbs 22:9
Ministry to the poor is one of the Lord’s most sacred

works. In Luke 4:18, Jesus was anointed to bring good
news to the poor and in Proverbs 28:27a, Solomon said,
He who gives to the poor will lack nothing.
#7 Do Not Use Debt to Prosper
"Will not all of them taunt him with ridicule and

scorn, saying," 'Woe to him who piles up stolen
goods and makes himself wealthy by extortion!
How long must this go on?'
Will not your debtors suddenly arise? Will they

not wake up and make you tremble? Then you
will become their victim.
~ Habakkuk 2:6-7
Remember that no matter how well debts seem to

work for obtaining material possessions, the borrower
is still always a slave to the lender. We have seen how
many people have their house or assets confiscated
because of financial crisis.
#8 Be Diligent
Lazy hands make a man poor, but diligent hands

bring wealth.
~ Proverbs 10:4
Wise people are diligent in their works. They make the

most of their opportunities and carry their share of
load. We can see that Joseph was faithful in suffering
and service and this prospered him to rule Egypt.
David faithfully cared for a few sheep and God gave
him an entire nation to shepherd.
#9 Remember the Lord
God wants us to remember that our ability to earn

wealth comes from Him and Him alone. And when we
succeed in gaining wealth, establish his covenant.
#10 No Dishonest Scales of Any Kind
The LORD abhors dishonest scales, but

accurate weights are his delight.
~ Proverbs 11:1
Dishonesty is an abomination to the Lord, because it

violates the holy character that His children
demonstrate.
God is concerned that His people conduct fair and

honest business practices in the marketplace. Unjust
scales may include bribery and withholding wages
from your employees. God will only prosper His people
if only when we operate our business with honesty and
integrity.
The ten principles are just the beginning of God’s plan

to release His fuller prosperity to His people. As we
allow God to speak, work and deal with us to end our
love of money, true biblical prosperity begins.
Questions:
1. What is God’s way of prosperity?
2. What do you struggle with most?
3. Share your action plan and solution.
W e e k 2 1 T r u e B i b l i c a l P r o s p e r i t y | 99
Week 21 - True Biblical Prosperity
How we approach money and wealth will have a vital

role in how we handle money. Before the Lord
prospers us, He may test us to determine whether we
would actually devote our heart to Him or to
mammon. As God’s people, we must stop pursuing
prosperity and start seeking His kingdom and His
righteousness.
The prosperity gospel teacher will tell you that you can
become prosperous by sending a seed-faith offering
into his or her ministry and then simply confess that
you are prosperous. Yes, we need to give to God
without string attached. Stop treating God like your
investment broker who is supposed to give you thirty,
sixty or hundredfold returns on your money. This is
not biblically sound. God wants us to build His house
through discipling the nations, teaching them to
observe all that Jesus commanded (Matthew 28:16-20).
When we focus so much on building our own
kingdom, it produces an overload of teaching about
personal prosperity and career. Be careful lest we
follow the pattern of Israelites when we seek other
false gods.
Do not wear yourself out to get rich; have the

wisdom to show restraint. Cast but a glance at
riches, and they are gone, for they will surely
sprout wings and fly off to the sky like an eagle.
~ Proverbs 23:4-5
Does it seem like there is never enough money? That

is the nature of wealth. No matter how much you
accumulate, you will always want more. That is why
Jesus said, You cannot serve both God and Money."
(Luke 16:13b). When you focus your energy on gaining
riches, you cannot focus your attention on your
intimate relationship with the Lord.
Consecrated Personal Wealth
Consecrating our wealth to the Lord consists more

than just giving our tithes and offering. It means
devoting all of our wealth to the Lord. This does not
mean you give all your money to your church or para-
church ministry. God wants to bring His people to a
place of living wholly consecrated lives, including our
wealth to the work of His ministry.
Consecrated Business Wealth
In the business arena, we should seriously explore

giving a certain portion of our net profit for God’s
ministry. It will be great to see more and more
marketplace ministers using their profit to finance
God’s work. God is looking to raise up a group of true
marketplace minsters who desire to serve and fulfil
their calling in these last days. Can you imagine an
army of marketplace ministers going out to the nations
and ministry with the tangible message of the gospel
and finances?
As successful ministers in the marketplace, we should

actively disciple young Christian entrepreneurs in the
biblical aspects of marketplace ministry.
Use Worldly Resources to Make Friends
In Luke 16:1-13, when the manager knew he would lose

his job, he went to all of the people who owed his
master money and forgave a portion of their debt.
When the master knew about it, he even
complimented him on his clever plan. Jesus
commended the man for his wise use of opportunity.
The children of this world are experts at seizing
opportunities for making money and friends and
getting ahead.
The Work of the Flesh
This is what the LORD says: "Cursed is the one

who trusts in man, who depends on flesh for his
strength and whose heart turns away from the
LORD. He will be like a bush in the wastelands;
he will not see prosperity when it comes. He will
dwell in the parched places of the desert, in a salt
land where no one lives.
~ Jeremiah 17:5-6
I have to keep reminding myself not to trust in the

work of my hands to bring forth my blessing. Until all
my hard work comes from a heart of trust and love for
Him, everything I do is nothing more than dead work.
God made us for a dynamic and deep relationship with
Himself and trying to replace Him with anything else
will always result in hardship. We are to find our
strength in Him and not ourselves.
This truth sets me free and I now live a greater degree

of His life that is in me and less of my own.
God’s Law of Prosperity
So if you faithfully obey the commands I am

giving you today--to love the LORD your God
and to serve him with all your heart and with all
your soul-- then I will send rain on your land in
its season, both autumn and spring rains, so
that you may gather in your grain, new wine and
oil. I will provide grass in the fields for your
cattle, and you will eat and be satisfied.
~ Deuteronomy 11:13-15
God provides for those who love him and who obey His
commandments. In today’s uncertain world, it is good
to be in the hands of our loving God who knows what
we need before we even ask Him for it. Jesus also
pointed to us that our love for Him is always
accompanied by obedience (John 14:15). For when we
truly love the Lord with all our heart, obedience to His
commandments is no longer a burden.
God’s Restoration
Till we turn to God and love Him wholeheartedly, our

love for God will always be replaced with the love of
money, riches and the world. Only when we return to
love the Lord with all our heart, soul, mind and
strength will the love of money cease to reign in us.
True prosperity will be restored as we return to our

first love and allow God’s love to overcome our love of
money.
Questions:
1. What is true biblical prosperity?
2. How would you like to consecrate your personal
and business wealth?
3. How can you love God with all your heart, mind,
soul and strength?
A p p l y G o d l y W i s d o m | 105
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Week 22 – Diminishing Your Debt

~ Proverbs 22:7
We are a nation of consumers with credit instantly

available to help us gratify our desires and medicate
our insecurities. Excess consumer debt is evidence that
we are spending money we wish to earn.
God’s position on debt is very clear. It puts the

borrower in bondage to the lender. Debt is a subtle
form of slavery, and He doesn’t want His children
living in bondage to anybody. When you can’t even
begin to dream about a real vacation because of your
debt, you are in bondage. When you can only make the
minimum payments on your credit cards, you are in
bondage. When you can never make a sacrificial gift to
your church building projects because of your debt,
you are in bondage. In fact, many churches have to go
into huge debts to finance their capital projects
because their members are in debt.
If everyone were debt free and embraced the principles

of tithes and offerings, there would be no need to
borrow.
Debt limits our freedom to make choices about the

rest of our life, it would seem wise to minimize or
eliminate it. Our ultimate goal should be to become
debt free.
Credit cards are nothing more than preapproved, high

interest bank loans. If you charge anything and cannot
pay it in full when the bill comes, consider yourself in
trouble.
Debt Reduction
Get out of debt in the following sequences:
1. Highest Interest Rate Charge

Start off with the debts that have the highest
interest rate. Start paying off as soon as possible.
2. Eliminate All Credit Card Debt
A priority must be to pay off all credit cards. The
full balance needs to be paid each month. In order
to pay off credit card debt, consider postponing a
vacation, reducing entertainment expenses or
delay the purchase of a new car.
3. Get Out of Car Debt
When you pay off a car loan, begin to set aside
money monthly for the next car. A faithful saving
program could enable you to pay cash for your next
car purchase. If you can pay cash, you can take
advantage of cash rebates. Consider this – if you
cannot afford to pay off cash in your purchase, how
about exploring it without owning a car?
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4. Start a Mortgage Prepayment Program

It can start with any extra monthly amount. Just
S$50 per month will reduce the principal owed, the
interest expense and duration of the loan. Try
taking lunch or snacks to work for the next 3 days
a week. This may yield your S$50 per week.
The ways to get out of debt:

a. Stop overspending.
b. Start repaying what you owe.
c. Do not borrow more.
If you faithfully follow this strategy, you will turbo

charge your way out of debt in remarkable time.
Decide now what you will do with the money once all
of the debt is paid off. This is not the time to celebrate
with a spending spree.
It’s important not to put yourself in a position where

you will be tempted to incur additional debt. The
apostle Paul warned. “Make no provision for the flesh,
to fulfill its lusts” (Romans 13:14 NKJV). If you still
frequent the mall, even for an occasional walk, you are
making provision to fulfill your shopping desire. It is
like putting mice in charge of the cheese.
Make every effort to get and stay out of debt. You can’t
begin to plan for investments that may yield a 5 to 15
percent return when you are burdened with debt
costing you 18 to 22 percent.
Know that the same power that gives you discipline in

other areas can help you in managing your debts.
And don’t try to do it alone; seek God’s help.
Questions:
1. How can debt hurt your personal witness?
2. What warning do you read in Proverbs 22:26-27?
3. What type of debt does God warns us about in
Proverbs 17:18?
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Week 23 – To Be Contented
I am not saying this because I am in need, for I

have learned to be content whatever the
circumstances.
~ Philippians 4:11
Someone once said, “The trouble with most people is

their earning capacity doesn’t match their yearning
capacity.” So when is enough, enough? Do you find
yourself unable to enjoy what you do have because
your thoughts always seem to wander to what you
don’t have? Contentment should be the goal of every
person who desires to walk in financial freedom.
Benjamin Franklin captured our dilemma with his

memorable words, “Money never made a man happy
yet, nor will it. There is nothing in its nature to produce
happiness. The more a man has, the more he wants.
Instead of filling a vacuum, it makes one.”
Let’s look at contentment as taught in the Bible. Paul

said that, but godliness with contentment is great gain.
(1 Timothy 6:6).
We must understand that discontentment is a state of

the mind in which one never quite feels satisfied with
his present possessions. On the other hand,
contentment is a state of the heart.
A contented Christian says, “Father, I thank You for

everything I am blessed to have right now, and I rest
in Your promise to give me the desires of my heart and
to meet every need I have according to Your riches in
glory. You see the financial goals I have submitted to
You. I receive Your grace to do all that I am supposed
to do, and I leave the rest to You.” You will gain joy and
satisfaction once you decide that enough is enough.
To be content does not mean to be complacent. A

complacent person is satisfied with his circumstances
and desires no more. A Christian who is content is
satisfied that his material blessings are on a planned
delivery schedule and at the appointed time will come
into reality. We must understand that God has always
worked on a set timetable. He sent His Son to the earth
in the fullness of time (Galatians 4:4 NKJV). He
promises to exalt us in due time (1 Peter 5:6). Your
financial blessing will come at the appointed time. You
must stay surrendered to God’s sovereign schedule.
Oh, what a relief it is to relax in the assurance that the
blessing is for a set time.
It is no wonder, then, that the apostle Paul exclaimed

that godliness with contentment is great gain (1
Timothy 6:6). One who has achieved this level of
spiritual maturity has indeed gained the victory over
anxiety and the gravitational pull of materialism.
Let’s look at a couple of antidotes for discontentment.

Gratitude
One of the key steps to slaying discontentment is to
become grateful for everything. Take nothing for
granted. At the end of each day, take a few minutes to
remind yourself of every provision God has made for
you and your family that day. Did you drive a car to
work today? Did you have a choice of what outfit to
wear today? Were you able to obtain the food you
wanted today?
Solid Relationships
A key factor in avoiding the pitfall of discontentment
is to become more relationship focused and less “stuff”
conscious.
When we read the account of the Shunammite woman

to whom Elisha wanted to express his appreciation for
adding a room onto her home solely for him and his
servant, we immediately sense her contentment:
He said to his servant Gehazi, "Call the

Shunammite." So he called her, and she stood
before him. Elisha said to him, "Tell her, 'You
have gone to all this trouble for us. Now what
can be done for you? Can we speak on your
behalf to the king or the commander of the
army?' " She replied, "I have a home among my
own people."
~ 2 Kings 4:12-13
Even though she was barren, she had not focused on

what was missing in her life, but rather on what she
had – meaningful relationships. She was not
concerned with climbing the social ladder. She had no
need for anyone to speak to the king on her behalf,
thank you. She found contentment in her
relationships. Many people will spend thousands of
dollars to go to faraway places and interact with
strangers whom they will never see again rather than
investing quality time in building meaningful
relationships at home.
The Shunammite woman had the wisdom to say, “I

have enough.” While she was blessed with enough
abundance to be able to build an additional room for
the prophet, nothing suggests that she was in pursuit
of more. She was content to serve God and to honor
Him with the resources with which she had been
blessed.
Jesus gave a strong warning to His disciples, and it is

still appropriate, then he said to them, "Watch out! Be
on your guard against all kinds of greed; a man's life
does not consist in the abundance of his possessions."
(Luke 12:15).
The ability to be content is a spiritual discipline that

will probably be a lifelong quest for most of us as we
seek to tame our finances. The key is to get started
today.
Questions:
1. What does it mean to be contented?
2. How can you apply Philippians 4:11?
3. How can you tame your finances starting from
today?
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Week 24 – God’s Will in Finance
For in Christ all the fullness of the Deity lives in

bodily form, and you have been given fullness in
Christ, who is the head over every power and
authority.
~ Colossians 2:9-10
Stewardship
The key to understanding God’s will in finances is the
proper understanding of stewardship. Webster’s
dictionary says that a steward is a person who manages
another’s property. We are merely stewards of God’s
property. He can choose to entrust us to manage as
much or as little as He desires, but in no case will we
ever become owners.
In Genesis, the Bible presents one view of the material

word: It all belongs to God. The Garden of Eden was
God’s; Adam and Eve merely tended it. God gave them
permission to enjoy the garden as their own, with one
restriction. When they violated that one restriction,
they were evicted.
Then in Psalms, David wrote that, the earth is the

LORD's, and everything in it, the world, and all who live
in it; (Psalm 24:1).
If as Christians we can accept our role as stewards and

manage God’s resources according to His direction, He
will entrust us with even more. But why would He
entrust more of His property to us if we hoard and act
like owners? When we acknowledge God’s total
ownership, we can experience God’s miraculous and
wise direction in all areas of responsibility, including
financial management. Although properly managing
all areas of life is important to God, this book focuses
on the management of money. Let’s explore what
God’s Word says about it.
In Matthew we read “The Parable of the Talents,” but

we should call it “The Parable of the Steward,” because
that is its focus. When Jesus told this story, a talent was
known as a unit of money. (Before that time, it was a
unit of weight.) Today, many think of this story in
terms of all of our resources, gifts and abilities.
How God Uses Finances

Often, God uses money in our lives to reveal the secret
of our hearts. It is an area that we are most sensitive
and vulnerable. If we are open to His guidance and
promises, He will definitely supply us His wisdom and
direction. But we must recognise that His plans for us
are not always the same as our desire. So we must be
willing to accept His plan. We need to look for God’s
guidance as to when to ‘stop’ and ‘yield’. When we fail
to yield, we have decided that our wisdom is more
superior than His and the lesson can be costly.
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But if we seek His will and obey, be rest assured in His

ability to supply all your needs and that He will keep
to His promises (Matthew 6:33).
His promises is that all these things will be given to you

as well. But His pre-requisite is that we seek first His
kingdom.
Questions:
1. Are you seeking God’s will when you make any
financial decision?
2. Do you trust God for your tomorrow?
3. Are you a good steward in managing God’s
resources?
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Week 25 – How Much Is Enough?
Then he said to them, "Watch out! Be on your

guard against all kinds of greed; a man's life
does not consist in the abundance of his
possessions."
~ Luke 12:15
Living Expenses and Investment

Now that we have considered various motives for
accumulating money, we can examine an important
question: How much money is enough? Each of us is
involved with making, spending, saving, and sharing
the wealth God supplies. But how much should
logically fit into each category?
How Much Is Enough For Your Current

Provisions?
Current needs mean the total amount of your living
expenses and your short-term cash reserves. No two
families will have the same goals within God’s will or
the same standard of living. In His infinite wisdom,
God allows for many individual differences. But God’s
Word establishes some guidelines, and those
guidelines should control lifestyles.
People who neglect to provide for their families are

clearly outside of God’s plan. Likewise, those who
hoard and live lavishly are also outside of God’s plan.
It is easy to become entangled in a worldly lifestyle, but
that lifestyle becomes surprisingly unfulfilling.
During his lifetime, John D Rockfeller was one of the

world’s wealthiest men. He was famous for tipping
with shiny new dimes. When asked how much money
he wanted he always replied, “Just a little more.” When
he passed away, his accountant was asked how much
money Mr Rockfeller had left behind. His reply was,
“All of it.” Since this will be true for us as well, we need
to ask, “How much is enough for my family?”
Balancing Work and Leisure

I went past the field of the sluggard, past the
vineyard of the man who lacks judgment; thorns
had come up everywhere, the ground was
covered with weeds, and the stone wall was in
ruins. I applied my heart to what I observed and
learned a lesson from what I saw: A little sleep,
a little slumber, a little folding of the hands to
rest-- and poverty will come on you like a bandit
and scarcity like an armed man.
~ Proverbs 24:30-34
a. What does this proverb describe?

We must work in order not to face poverty.
Contrast this with the following verse.

He who works his land will have abundant food,
but he who chases fantasies lacks judgment.
~ Proverbs 12:11
b. According to this, what brings prosperity?

So, those who work hard, tilling their land
will bring prosperity.
Paul wrote to this disciple, Timothy, about

keeping the right balance in his life.
No one serving as a soldier gets involved in

civilian affairs--he wants to please his
commanding officer.
~ 2 Timothy 2:4
What are we to avoid?
Entanglements with the affairs of everyday

life.
But on the other hand, he sent a message to the

lazy Christians in Thessalonica.
"If a man will not work, he shall not eat."

~ 2 Thessalonians 3:10b
In other words, if you don’t work, you don’t eat.
I believe that reaching a balance in personal

spending today is very difficult. We don’t live in
Africa or India. We live in the midst of
overwhelming affluence: some families have two
(or more) cars, multiple television sets, stereos,
computers, and designer clothing.
Deciding how to find that balance cannot be

done without prayer and sacrifice. Solomon
struggled with this when he wrote the following.
Whoever loves money never has money enough;

whoever loves wealth is never satisfied with his
income. This too is meaningless.
~ Ecclesiastes 5:10
The danger is not money. It is the love of

money.
Then Solomon wrote,
Now all has been heard; here is the conclusion of

the matter: Fear God and keep his
commandments, for this is the whole [duty] of
man. For God will bring every deed into judgment,
including every hidden thing, whether it is good or
evil.
~ Ecclesiastes 12:13-14
What two things did he advise?
Fear God and keep His commandments.
How Much Is Enough For Investments?

Naturally, if a part of your ministry is the ability to
make money and give it, you need an investment
reserve. You should retain funds out of each
investment to make additional investments.
Unfortunately, too many people believe that amount

is 100 percent. They take 100 percent of the proceeds
of the first investment and put it into a new
investment. Sometimes that is done for tax advantages
to defer income, but it is not scriptural. God is capable
of using His money in His ministry today.
Many investors will be disappointed when, after

having kept the Lord’s money for years and never
grasping the opportunity to share in His work, they
stand before the Lord empty-handed.
When we invest with the wrong attitude, the same

investments can be a source of greed, ego, and loss.
The following are suggestions for investing.
 Choose wisely. Learn what you need to know

before investing anything.
 Never risk borrowed money or money that would
be hard to replace.
 Seek godly counsel from knowledgeable sources.
Don’t settle for opinions.
 Ask the Lord. Then wait on His reply instead of
rushing ahead.
 If you don’t receive God’s peace in your decision,
stop.
Questions:
1. How much is enough for your current provisions?
2. How much is enough for investment?
3. What does Ecclesiastes 5:10 mean to you?
W e e k 2 6 F i n a n c i a l S t e w a r d s h i p | 127
Week 26 – Financial Stewardship
Financial stewardship encompasses much more than

how we manage our money. Stewardship is what we do
with all that God gives us. It is our response to God’s
love for us. Therefore, we first give ourselves before we
can give our time, talent, money and other resources.
As God’s stewards, we are just managing God’s

resources. Therefore, we are not the owners but His
caretakers and chosen servants, we are transferring
our control to God. Our goal is to learn how to give all
we have to the Lord and to trust Him to give back all
we need. Honestly speaking, that is hard and I am also
in a learning stage of letting go more and more each
day.
Our attitude towards our money does determine our

heart for stewardship. If we do not put our trust in
God, we will hold on tightly to the blessings He gives
us.
In the story of the widow’s mite in Luke 21:1-4, Jesus

watches what we give. In this incident, Jesus did not
praise the rich who gave large amounts, but He
rejoiced in the widow’s two small copper coins. The
widow was blessed because she gave out of her
poverty. We can see that her willingness to give was
made possible because of her willingness to sacrifice.
Her two coins were less important to her than her

desire to please God.
The key is that it is not the amount of what we give

that is important, but our attitude towards giving.
What are we willing to give up? For where your

treasure is, there your heart will be also. (Matthew 6:21).
The Lord wants us to possess the right attitude.

Sometimes we are too greedy and we possess the
attitude of a robber which is, what is yours is mine, and
I am going to take it! Or we may be too self-focused
that we insist that what is mine is mine and I am going
to keep it. When we are too self-absorbed with
ourselves, we tend to be oblivious to the needs of
others.
The Lord surely wants us to adopt the attitude of

allowing Him to be the Lord of all, including our
finances. May we have the willingness to share our
belongings in caring for others. Bearing in mind that
we are blessed to be a blessing, let us give our first
fruits to Him. By doing that, we constantly remember
God’s ownership. Making our giving a priority
confirms the trust that we place in God. May we
continue to give sacrificially, give regularly, give
cheerfully and give quietly as unto Him.
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True wisdom with money begins by accepting God’s

ownership, and that wisdom provides the framework
for our financial disciplines. Good and faithful
financial stewardship will promote good planning,
spending, budgeting, investing and managing of God’s
money.
Questions:
1. Are you willing to release something of value to
God?
2. Explain why stewardship can be defined as living
all of life for God’s purposes.
3. What does sacrificial giving means to you?
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Week 27 – Making Godly Financial Decisions
Trust in the LORD with all your heart and lean

not on your own understanding; in all your ways
acknowledge him, and he will make your paths
straight.
~ Proverbs 3:5-6
Financial Breathing
In this section we will consolidate some of the previous
principles into a plan for financial breathing. That is,
exhaling bad habits and inhaling good principles.
To put God’s financial plan into action, we can explore

doing the following.
1. Acknowledge His Ownership Daily

We must be certain that our daily decisions are
surrendered to God. Just as challenges are a
daily occurrence, so is the acknowledgement of
God’s authority.
So in order to find favour with God and with
others we need to:
a. Trust in the Lord.

b. Do not lean on our understanding.
c. In all decisions, acknowledge Him.
d. He promises to direct our path straight.
2. Accept God’s Direction

Many times we ask God for direction but we
precondition our requests with presumed
answers. Do we really believe God will do what
is best, or do we just say we believe it?
If that is how God clothes the grass of the field,

which is here today and tomorrow is thrown
into the fire, will he not much more clothe you,
O you of little faith?
~ Matthew 6:30
Remember that the prerequisite to receiving

God’s promises is faith. Many a time, God can
promise to supply our needs even better than we
would supply our own family’s.
If you, then, though you are evil, know how to

give good gifts to your children, how much more
will your Father in heaven give good gifts to
those who ask him!
~ Matthew 7:11
In this verse God makes a promise, based on a

condition.
a. What is the promise? He will supply our
needs.
b. What is the requirement? Have faith in
God.
Do not be anxious about anything, but in
everything, by prayer and petition, with
thanksgiving, present your requests to God.
~ Philippians 4:6
Anxiety has been described as an overwrought

condition, brought on by fear of an event that
has not yet occurred. God doesn’t want us to be
fearful and anxious.
We overcome anxiety by prayer and

thanksgiving.
The following passage gives further instruction.
Be joyful always; pray continually; give thanks in

all circumstances, for this is God's will for you in
Christ Jesus.
~ 1 Thessalonians 5:16-18
3. Testify Outwardly of God’s Ownership

To breathe financially, it is important to
establish a spiritual commitment to giving.
Those who have experienced the richness of
God’s freedom know that surrendering the first
part to God is an essential step.
Give, and it will be given to you. A good measure,

pressed down, shaken together and running over,
will be poured into your lap. For with the measure
you use, it will be measured to you."
~ Luke 6:38
a. God’s instruction is to give.

b. God’s measure is by our standard of
giving, it will be measured to ours in
return.
So, we need to put the following principles into

practice in our lives.
1. Surrender all ownership to God daily.

2. Accept God’s answers.
3. Acknowledge God’s ownership.
Applying God’s Wisdom

To live by God’s plan, it helps to have a list of principles
to consider in making decisions. We are all faced with
numerous opportunities and choices that affect God’s
money.
Left to our own logic and resources, we will usually

miss God’s best for us. By weighing every decision
against God’s principles, Satan’s snares can be avoided.
There are principles that God has given to enhance our

lives because He understands what is best for us.
Failure to follow His principles can result in both
financial and spiritual loss.
1. Avoid Hasty Speculation
Do not wear yourself out to get rich; have the

wisdom to show restraint. Cast but a glance at
riches, and they are gone, for they will surely
sprout wings and fly off to the sky like an eagle.
~ Proverbs 23:4-5
Avoid speculative schemes or unethical

involvements and get-rich-quick schemes.
Be cautious when looking at unregistered stock

investments, promotional land ventures,
ground-floor start-ups, and any programs that
promise quick, unreasonably large returns on
your investment.
2. Keep your Finances Current

“Which one of you, when he wants to build a
tower, does not first sit down and calculate the
cost, to see if he has enough to complete it?”
~ Luke 14:28
The main theme of this verse is know your

current situation before doing anything.
It is never wise to buy beyond your means or do

anything else that will jeopardize your financial
freedom. Sacrifice wants and desires, if
necessary, but stay within your means.
3. Avoid Co-Signing
My son, if you have put up security for your
neighbor, if you have struck hands in pledge for
another … then do this, my son, to free yourself,
since you have fallen into your neighbor's hands:
Go and humble yourself; press your plea with your
neighbor!
~ Proverbs 6:1, 3
A man lacking in judgment strikes hands in

pledge and puts up security for his neighbor.
~ Proverbs 17:18
Co-signing is pledging assets against the debt of

another.
By co-signing, you may encourage someone to

borrow beyond his or her ability to repay. If
someone values your friendship enough to ask
for help, you may be able to help in other ways,
including sound advice and creative solutions.
The principle expressed in the Proverbs above is

a simple one. Don’t co-sign or pledge assets
against the debts of others.
4. Evaluate Purchases Based on Needs, Wants,

Desires
But if we have food and clothing, we will be

content with that.
~ 1Timothy 6:8
God has promised to provide for our needs, but

He has not promised the same for our wants or
desires. Many Christians are unhappy because
they can’t discern the difference between needs,
wants, and desires. We are told to learn to be
satisfied with what we have.
The bottom line in Paul’s letter to Timothy is

Contentment.
5. Never Make Quick Financial Decisions

For this very reason, make every effort to add to
your faith goodness; and to goodness,
knowledge; and to knowledge, self-control; and
to self-control, perseverance; and to
perseverance, godliness;
~ 2 Peter 1:5-6
The verse above addresses some essential

characteristics of a Christian: moral excellence,
 Knowledge
 Self-control
 Perseverance
 Godliness
6. Accept God’s “No” As Well As “Yes”

Remember that God’s perfect will may be
served best by His saying, “No” sometimes. The
ability to trust God in every circumstances
demonstrates full dependence on Him and
God has often used financial matter to develop
maturity in His children.
7. If You Do Not Have Peace, Do Not Buy

The blessing of the LORD brings wealth, and he
adds no trouble to it.
~ Proverbs 10:22
Often we are not as responsive to God’s guidance

as we should be, because we become emotionally
involved with an impending financial decision.
God simply establishes in us a feeling of uneasiness

to stop our decision. The principle to learn at these
times is, if you do not have peace, do not buy.
Therefore, let us continue to trust God in all our

decision making. He is always on time. So do not
succumb to pressured financial decision that you will
regret later.
Questions:
1. Do you really believe God will do what is best, or
do we just say we believe it in Matthew 6:30?
2. What is God’s promise and requirement written in
Matthew 6:30?
3. How can you apply God’s wisdom?
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Week 28 – Money Wise
To be wise managers of money, we need discipline,

goals and knowledge. We can determine how much we
want to give, save or spend our money. Giving and
saving are important elements when it comes to
handling money.
Saving and Spending

We must minimally give 10% and set aside another 10%
for saving. With your saving you accumulate, consider
an investment strategy that provides growth without
undue risk. To achieve the saving we want, we must set
aside funds that we want to save on a consistent and
systematic basis. Again I would like to emphasize that
for your saving to become a reality, treat your saving
as a regular expense and give it high priority.
Choose a program that will automatically withdraw

from your saving account until you make an effort to
stop. By not saving, you are losing the opportunity to
increase your wealth because your money is not
working for you in a compounding investment.
Getting rid of habits like smoking, drinking or other

poor spending habits will greatly improve your
potential in saving. Having said that, do not punish
yourself by not having any fun in your life. Choose a
lifestyle that reflects your relationship with Christ.
God does not condemn being rich, but He speaks

against the self-centred attitude in the handling of
wealth. Our Singapore culture promotes spending and
monetary wealth too much. Just be careful not to
become a victim of the foolish desires money can
create. Be very watchful of spending too much money
on the house or the car that we own. With the affluent
society, I am seeing Christians growing in their
expensive spending, hobbies and other lifestyle
choices. There is also a desire to overindulge on their
children or grandchildren.
Insurance Planning
Becoming money wise includes understanding and
using insurance planning to protect against risk and
losses. In order to do so, you can transfer the risk to
the insurance company. Proverbs 27:12 says The
prudent see danger and take refuge, but the simple keep
going and suffer for it. Although this verse does not
refer specifically to insurance, it definitely talks about
planning. Investigate your insurance portfolio. Let us
look at some areas of insurance where we, as good
stewards, should focus our attention.
In our planning, we should explore these areas:

 Family Protection
 Saving
 Investment
 Children
 Health
 Retirement
 Legacy
 Business (if any)
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Buying appropriate insurance is good stewardship. We

know God has us covered for every circumstance, but
He has given us the sense and the responsibility to
anticipate potential losses and to take precaution.
Questions
1. How does the sowing and reaping principle apply
to Luke 6:32 and Proverbs 3:9-10?
2. How can you save systematically?
3. What lifestyle pleases God?
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Week 29 – Avoiding the 12 Most Common

Mistakes
Mistake #1: Living a Consumeristic Lifestyle
I have known of many people who earn millions of

dollars and yet are having difficulties sometimes in
facing their finances. I am well aware that avoiding the
use of credit card is not easy. The promotion of credit
card use has made credit so easy and convenient for us
and the temptation not to use these facilities is
increasingly difficult.
Mistake #2: Living Without a Budget
If you have no budget, you may have the tendency of

spending more without realising it. A budget guides
you and tells you when you are on target.
Mistake #3: Buying and Selling Cars
Some people just have the habit of changing their car

every 2 to 3 years and it is not wise to do that. Most of
the time, the cheapest car anyone can ever own is
always the car they presently own, unless you intend
to use your proceeds and reinvest in a lower priced car.
Mistake #4: Living in Debt
Avoid too much use of credit. Be careful not to use

credit to purchase something you really cannot afford
or using it to fund your consumeristic lifestyle.
In order to get out of debts, sell away certain assets so

as to reduce your debt or set up a repayment schedule
and strictly adhere to it.
Mistake #5: No Spending Plan
Without a spending plan, you are likely to spend

impulsively, use credit unwisely and end up in
unceasing debt.
Mistake #6: No Cash Reserve
As a Certified Financial Planner, I would advise you to

set aside six months of your expenses in reserve for use
in case of emergency.
Mistake #7: Poor Use of Extra Income
If you reserved an extra income through a bonus,

inheritance or others, plan for it as you have planned
for other income. Do not be too quick to spend off but
consider paying off debt, or putting it aside for saving,
investment and in your cash reserve.
Mistake #8: Provision for the Future
Think about your future obligations like purchasing a

house or insurance premium or unexpected expenses
such as car repairs.
Mistake #9: Impulse Spending
Impulsive spending is a big problem for some people.

We can avoid it by reducing the opportunities for
spending by going to the shopping malls or other
stores only when necessary.
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Resist the pressure tactics of sales people and stick to

our plans for what we will buy.
Mistake #10 – Can’t Wait Attitude
We are living in the instant society that we want to buy

and own things right now. We do not want to develop
patience and work on the save now, buy later principle.
Mistake #11 – Underestimating the Lust of

Ownership
The more things we acquire, the more we can expect

to spend for repair and upkeep. Car and house often
require maintenance costs.
Mistake #12 – Not Saving Small Amounts
If all you have is small amounts, do not get discouraged

as it can add up to a reasonable sum if you do it
consistently and systematically.
As you have read through these common mistakes,

spend some time reflecting on what direction and/or
decision you think God might be leading you to make.
Questions:
1. What are your thoughts regarding changes you
might make in your lifestyle?
2. List some things you can give up to reduce your
spending.
3. Explain the total impact of having money in
savings earning compound interest
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Week 30 - Helping and Saving
Should we help and share with all people? I sometimes

have great difficulty in turning down people who are
seeking for help. Who really deserves our help? Of
course, the ultimate source of wisdom has to come
from God’s word. I have learnt to say no to some
people who ask for help as I grow older. I have learnt
that God may be using material difficulties to direct
someone and strengthen their spiritual lives. If we
interfere, we may cause this person to miss God’s best.
Sometimes, God may use their financial crisis to bring
them back to Himself.
Who should we help?
If anyone does not provide for his relatives, and

especially for his immediate family, he has
denied the faith and is worse than an unbeliever.
~ 1 Timothy 5:8
We are instructed to provide for our own household

and this would also include our parents and siblings
and grandparents. Besides helping our family
members, there are people that the Lord want us to
share.
If anyone has material possessions and sees his

brother in need but has no pity on him, how can
the love of God be in him? Dear children, let us
not love with words or tongue but with actions
and in truth. ~ 1 John 3:17-18
God’s expectation is clear: If I have a surplus and fail to

help a Christian in need, the love of God may not be
abiding in me.
As the body without the spirit is dead, so faith

without deeds is dead.
~ James 2:26
James says that faith without works is dead.
Who serves as a soldier at his own expense?

Who plants a vineyard and does not eat of its
grapes? Who tends a flock and does not drink of
the milk?
~ 1 Corinthians 9:7
Everyday experience teaches us that a workman

deserves some reward for his labours. If a man is
drafted to be a soldier, the government pays his wages
and provides a certain amount of supplies for him. The
man who plants a vineyard gets to eat the fruit, just as
the shepherd has the right to use the milk from his
animals.
Sometimes as Christians, we somehow feel that our

pastor or shepherd should live at a lower standard than
anyone else but this is not so according to this
scripture. We are to support those who minister to us.
Now it seems obvious to you that we would recognize
the need to help the body of Christ, especially our
shepherd.
W e e k 3 0 H e l p i n g a n d S a v i n g | 149
But what about the pre-believers? Do you turn away

from street people? People who come to you to sell
tissue paper or beg you for food or money because of
their disability? Do you ignore their needs or you
respond and touch them with the love of God?
Consider these verses:
"They also will answer, 'Lord, when did we see

you hungry or thirsty or a stranger or needing
clothes or sick or in prison, and did not help
you?' "He will reply, 'I tell you the truth,
whatever you did not do for one of the least of
these, you did not do for me.'
~ Matthew 25:44-45
And if anyone gives even a cup of cold water to

one of these little ones because he is my disciple,
I tell you the truth, he will certainly not lose his
reward."
~ Matthew 10:42
Remember that when we do something for the

unsaved, we are doing for God. Your attitude does
reflect your heart. Should we give to all who ask for
help? Of course not. We must be sensitive to God’s
direction in our giving. Do not give out of emotion or
obligation. Not all are deserving. We should balance
compassion with good stewardship. It is easier to
discern an individual who comes to you for help, but
what about organisations that solicits our help?
Questions worth pondering:

1. Is the organisation communicating the true
message of the gospel?
2. Are the lives of its leaders consistent with biblical
principles?
3. Are they building their own kingdom rather than
serving God or others?
God makes two promises to us in Proverbs 28:27,

He who gives to the poor will lack nothing, but
he who closes his eyes to them receives many
curses.
How can we strike a balance or acquire the proper

perspective concerning with whom to share and
when? It is only logical that we help those who are in
need but not what is just their wants or desires.
I would also usually respond to those who are unable

to help themselves, e.g. those who are old, sick, the
orphans and widows.
May we strive to provide for the ministering brethren

and pastors in a worthy manner. May we continue to
help our fellow believers and try our very best to meet
the needs of the poor, whether saved or unsaved.
Questions
1. Who really deserves our help?
2. When you do something for the unsaved, who are
you really doing it for?
3. Who should you help?
W e e k 3 1 F i n a n c e A t a G l a n c e | 151
Week 31 - Finance At a Glance
1. Become a Faithful Steward
"Whoever can be trusted with very little can also be

trusted with much, and whoever is dishonest with
very little will also be dishonest with much.
~ Luke 16:10
Faithfulness in the small assignments the Lord gives us

qualifies us for the opportunity to serve in greater and
more influential ways. Let us be faithful and obedient
where God plants us, and watch what awesome things
He does through our lives.
2. Give at least a Tithe

firstfruits of all your crops;
~ Proverbs 3:9
We should give God the firstfruits of our income so

that we may honour Him as Lord of our lives and
possessions.
…Those who honour me I will honour… (1 Samuel 2:30)

is God’s promise to all who faithfully and generously
give of their finances.
3. Develop a Budget
Be sure you know the condition of your flocks, give

careful attention to your herds; 24 for riches do not
endure forever, and a crown is not secure for all
generations.
~ Proverbs 27:23-24
4. Pay Off Consumer Debt

~ Proverbs 22:7
Those who live beyond their means end up enslaved to

their creditors.
5. Become Debt Free
The blessing of the LORD brings wealth, and he

adds no trouble to it.
~ Proverbs 10:22
The riches consist of the blessing of the Lord. Whether

we are materially poor or rich, the Lord’s presence and
favour are our greatest wealth.
6. Train Your Children
Listen, my son, to your father's instruction and do

not forsake your mother's teaching.
~ Proverbs 1:8
W e e k 3 1 F i n a n c e A t a G l a n c e | 153
Godly parents urge their children to listen to wisdom

and obey what he hears, including how to handle
finances.
7. Teach Others
And the things you have heard me say in the

presence of many witnesses entrust to reliable men
who will also be qualified to teach others.
~ 2 Timothy 2:2
Choose trustworthy, godly people and teach them

what we have learned so that they can serve the Lord
too. Teaching them how to handle finances is helpful,
so that they will not be ensnared with money.
Questions:
1. What is your immediate financial goal?
2. What do you think about tithing? Is it necessary?
Where should it go?
3. How can you better manage your money?
W e e k 3 2 R o m a n c e a n d F i n a n c e | 155
Week 32 - Romance and Finance
If you are planning to get married, you have got to talk

about finances before you tie the knot. It is easy to talk
about how many kids you want and where you will live
than to talk about money. It may seem like an
unromantic topic to talk about, yet it is really
necessary to talk about it. You may like to start off your
conversation with these questions:
1. Do I believe in or practice tithing to church?

2. Do I systematically save money out of my income?
3. Do I believe all bills should be split 50-50?
4. Is there anything wrong with a spouse having a
secret bank account as long as he/she pays his/her
share of bills?
5. Am I able to pay my credit card and other
consumer debt?
6. What are your financial assets and liabilities?
7. What type of debt do you have?
8. What are your financial aspirations?
9. What are your career expectation?
10. Do you have to take care of any family members
financially?
These questions will give you a good start. Do not be

surprised if you hear something that shocks you.
a. Let me try to address some of the issues that may

potentially happen in your marriage. Is it wrong to
hide money from your spouse?
Then my question to you is, why do you feel like

you have to hide money from your spouse? If you
do not trust your partner, the issue needs to be
addressed. Talk to your spouse, seek counselling
and God’s guidance. Keeping money secret from
your spouse may not be the best option. Re-
establish open and honest communication and if
necessary, repent over your thoughts and actions.
Unwillingness to join assets and bank accounts in
a marriage is perhaps a danger signal of unresolved
trust issues that needs to be addressed.
b. How should married people handle their

differences when it comes to money? You do not
have to be the same all the time. Do not be afraid
to talk about your differences. If this leads to an
argument, seek professional help or advice from
wise and godly couples. Most importantly, both of
you must be willing to compromise. Marriage only
works when two people die to their own desires for
the betterment of the marriage.
c. How should a man deal with a wife who earns

more money? In our society, it is getting more and
more common for a wife to earn more than her
husband. As a result, it can create problems. Some
women may become more controlling and
domineering when they become the primary
breadwinner, while men become insecure and
overly sensitive.
W e e k 3 2 R o m a n c e a n d F i n a n c e | 157
Wives must realise that in such a circumstance, the

man is still the leader of the home. Respect his
authority and treat him with love. Become his
biggest cheerleader and appreciate what he does.
Make him feel like he is a part of your success and
refer to the money you earn as ours instead of
mine. And a man must get over the fact that his
spouse makes more money than him. Earning less
than your wife does not make you any less of a
man. Your manhood is not measured by your
ability to make money, but rather by your
willingness to do your best, love and respect for her
and your willingness to follow God’s word.
Continue to be a spiritual leader at home. Act like
a leader, and your wife will respect you as a leader.
On the other hand, if your husband is the primary

breadwinner, it does not give him the right to act
like a financial dictator and disregard his spouse’s
opinion. Allow your wife to be involved in your
financial decisions. It may be wise to seek out and
listen to your wife’s counsel.
There are bound to be times when husband and

wife are in disagreement about a financial decision.
Then what? Allow your husband to have the final
say, allow the Lord to work it out. I know it is not
easy especially when you think you are right. Do it
in a loving and respectful way.
Encourage him to seek other godly or professional

counsel and then allow the Lord to take over and
pray.
Prayer works wonders. My prayer to you is that you

will keep Christ at the centre of your relationship.
Questions:
1. Is it wrong to hide money from your spouse?
2. How should a man deal with a wife who earns
more money?
3. Who has the final say regarding financial
decisions in the home?
W e e k 3 3 – Y o u n g a n d E n e r g e t i c | 159
Week 33 - Young and Energetic
Young, restless and broke! Reject this lie of the enemy.

Although many of you are experiencing some type of
financial pressure, you may be struggling with late
payments, little saving and heavy study loan debt. On
top of this, you face the challenge of having to endure
the aggressively marketed product in our culture
which is debt! No wonder it is so hard to get a head
start financially when you are young. The influence of
our culture and materialism makes it so difficult to get
and stay financially healthy. Unfortunately churches
are also not teaching enough about the proper ways of
handling money.
But my friend, you do not have to subject yourself to

this influence and pressure. No matter how many
mistakes you make, you have the time to turn your
financial life around and set yourself up for a great
financial future. There are 4 strategies that you can use
to transform your finances.
First, strategically pay off your credit card payment.

Your goal is to clear your debt as soon as possible. With
the high interest rate charges, make it your first
priority to clear all credit debt as soon as possible.
Second, systematically pay off your study loan debt if

any. Work with the lender to find repayment plan that
fits your current financial situation.
Remember, extending a repayment period of any loan

will increase the total interest cost over the life of the
loan.
Third, rearrange your spending habit. Learn to spend

smart, eat economically such as eating at hawker
centre. Restructure your recreation. Eliminate
estimated spending and ponder your purchases
especially on big ticket items. Take a moment and
commit to at least one thing you can do right away.
Fourth, develop multiple streams of income. Most of

you would like to find a career that you love but you
can also diversity your talent and competencies to earn
extra money. Explore ways to develop and diversify
your source of income. Create the financial future you
want by doing what it takes today.
Questions:
1. What is the four strategies that you can use to
transform your finances?
2. What is the one thing I am committed to do to help
me to create a financial future?
3. Where should I place my priorities for a spending
plan now that I just started my first job?
W e e k 3 4 F a i t h a n d W o r k | 161
Week 34 - Faith and Work
Many people see their job as a means of earning

money. But God will use our work situation to produce
godly character. The way to get out poverty is through
our work. We cannot increase our wealth by
approaching work with a wrong attitude. After all, the
Bible also teaches us to work hard.
The LORD God took the man and put him in the
Garden of Eden to work it and take care of it.
~ Genesis 2:15
So the Lord took Adam and gave him a job and put him
in charge and be productive! God is not concerned
about our profession but He is more concerned about
the attitude with which we approach our job. In God’s
economy there is equal dignity in the labour of all
honest and sincere men and women.
Well, you may be facing a job that you do not like. Do

not be too quick to change. Allow God to use the
situation to mould and shape you. Meanwhile start
praying and ask God for direction. A career change is a
natural life progression.
Wait for His indication after praying before jumping

into your new job. There are a few things you can do
to help you in discovering your right career:
- Discover your purpose and passion, what would

you do for free if money is not an issue?
- Talk to your close friends and loved ones.
- Seek godly counsel and career coaches.
- Investigate and prioritise your job’s critical value.
- Obtain additional training or education.
- Match temperament with vocational aptitude.
- Start networking.
- Career goals – types of career you want to pursue
next 1, 3, 5 years.
- Work environment – Ideal setting, company
culture, pace, size, vision?
- Income – it is important but not the overriding
factor. Top priority is to seek God’s will and
kingdom first.
- Watch and pray for open doors.
- Anticipate your future with peace and confidence.
Questions:
1. I hate my job and want to change careers, what
should I do?
2. How should I discover my authentic career?
3. What is my purpose of working?
W k 3 5 S h o u l d I S t a r t a B u s i n e s s ? | 163
Week 35 - Should I Start a Business?
How will I know when the time is right to quit my job

and devote myself to start a business of my own? There
is no exact answer or secret formula for preparation to
start your own business. Do explore these
recommendations:
1. Have at least six months of your net living

expenses in the bank. You will need this amount to
cushion you through just in case the first few
months on your own do not produce any income.
Make a point not to put all your money into your
business venture.
2. Develop a detailed business plan. Ask yourself
these questions:
a. How is your business unique?
b. Why would your goods or services appeal
to a customer?
c. How are you very different from your
competitor?
d. Why would customers choose you over
others?
3. Make sure you have adequate capital. Cash flow is
one of the greatest challenge for any businessman.
You need to have personal and business cash
reserves. Most business fail, not because of lack of
knowledge but lack of capital.
4. Make sure you are suited for business ownership.
Being an employee and being a boss is a totally
different play field.
A lot of people who get into business are not really

cut out for business ownership. Here are some
questions that you need to ask before embarking
on a new business venture:
a. Are you a self-starter?
b. Are you a risk taker?
c. Are you prepared to work for long hours?
(At least for a start.)
d. Can you make sound and godly decision?
e. Do you possess good organisational skills?
f. Can you deal with fluctuating income?
g. Do you handle money well?
h. How will the business affect your spiritual
and family life?
As you can see, a lot needs to be considered before

going into business. It takes more than great idea, but
involves time, motivation, desire and talent. But do not
begin until you count the cost. Otherwise, you might
complete only the foundation and cannot afford to
finish it. Most people would start their business with
borrowing.
If you decide to borrow money to start a business,

make sure that you have adequate cash reserves to
cover your living and business expenses. Remember,
most businesses fail because of lack of capital. Make
sure you have enough capital to sustain the business
until you can make a profit. As a financial planner, I
would not recommend borrowing against your home.
Sometimes we may like to go into business with our
family member or close friend.
W k 3 5 S h o u l d I S t a r t a B u s i n e s s ? | 165
When going into business with someone we know,

remember to do your due diligence and follow the
same procedures as you would with anyone else, like
establishing business contracts.
Questions:
1. What should I do to prepare for starting a business
of my own?
2. Should I go into debt to start a business?
3. Is it ok to go into business with someone I know?
W e e k 3 7 F o o d F o r T h o u g h t | 167
Week 36 - Man-Made Economy
Today, our economy in Singapore is expected to grow

at a moderate pace over the next few quarters,
according to the Monetary Authority of Singapore. In
its half-yearly macroeconomic review released on
Tuesday 28 October 2014, it was said that Singapore’s
GDP growth forecast would come in at between 2.5
percent and 3.5 percent this year. A broadly similarly
pace is expected for 2015, it added. What went through
my mind is would I always be able to predict the future
economy of Singapore and the world?
We have experienced the American economy falling

apart in 2008. Then, one of the worst tragedies in
American history happened, the terrorist attack on
September 11, 2001. That sent the financial markets
into a tail-spin, and suddenly our economy was
slipping into a recession. As a consequence, we saw
many people lose their homes and jobs. What does all
this teach us? We cannot rely on man and the
uncertainty of the future, except our active faith in
God. God and His financial principles always work
because He knows how to put our financial lives back
together again. Jesus declared in Matthew 7:24-27,
"Therefore everyone who hears these words of

mine and puts them into practice is like a wise
man who built his house on the rock. The rain
came down, the streams rose, and the winds
blew and beat against that house;
yet it did not fall, because it had its foundation

on the rock. But everyone who hears these words
of mine and does not put them into practice is
like a foolish man who built his house on sand.
The rain came down, the streams rose, and the
winds blew and beat against that house, and it
fell with a great crash."
I truly believe that if we build our financial lives on

God’s principles, we will prosper. May we learn to
build on the right and firm foundation. Let us explore
these principles that can also help us in making wise
decisions in the future.
1. Acquire Knowledge
Take hold of your time while you are on the train
or during your lunch or coffee break, read up
articles of business from the website. In these
publications you will find some helpful tips that
will give you advice that you need to know about
finance.
2. Know Your Financial Weakness
A prudent man sees danger and takes refuge, but the
simple keep going and suffer for it. (Proverbs 22:3).
For instance, if you have credit card debt, try to
settle the debt as soon as possible.
3. Re-examine Your Lifestyle
You may need to rearrange and reduce your
spending. Change your spending habit, swallow
your pride, tighten your budget and eliminate
unnecessary expenses.
4. Reduce Your Debt

The Bible does warn us being in debt is
tantamount to being a slave. Just look at the
relationship most of us have with credit cards, the
new slave master of today. Proverbs 22:7 states,
Just as the rich rule the poor, so the borrower is
servant to the lender. (NLT).
5. Investment
Do not time the market. Professional investors
cannot even do it successfully. Remember that the
premises of investing is to buy low, and sell high.
When the financial markets are experiencing a
financial famine, price are low. It may also mean
that it is a great time to buy and not sell.
Investment advisor will usually advise you to stay
invested and ride out the downturn. But it all
depends on you. If you do not have the emotional
fortitude to hang in there, then you need to reduce
your exposure to the stock market significantly, at
least enough for you to be able to sleep.
For some of us who are more conservative, we may

have to reduce our exposure to stock market and
settle for lower returns, which means we have to
save significantly more or work more years at our
job in order to meet our retirement goals.
6. Ask God for Wisdom

Do not let your financial knowledge fool you into
thinking that prayer is not necessary. James 1:5
says, if you need wisdom -- if you want to know what
God wants you to do -- ask him, and he will gladly
tell you. He will not resent your asking. (NLT).
7. Do Not Short-change the Lord

It is very common for us to stop giving generously
to the Lord during tough economic times. Do you
believe when God says in Malachi 3:11, I will prevent
pests from devouring your crops, and the vines in
your fields will not cast their fruit," says the LORD
Almighty.
8. Believe that Tough Times Will Not Last

Forever
We often hear when people say tough times never
last and only tough people do. Trust God, things
will get better and they usually do if you stay
focused and resilient. Fix your eyes on Him and
your faith in Him shall be rewarded.
Questions
1. How to put your financial life back together?
2. How should you invest?
3. “I am deep in debt.” Is this wrong?
Week 37 - Food For Thought
I have shared with you many ideas and principles

about money. Here are my further thoughts about
money.
1. Seek God’s Forgiveness

If you have made a blunder out of your finance by
incurring unnecessary debts and lived beyond your
means, know this: God will forgive you if you
confess your sins and He will cleanse you from all
unrighteousness (1 John 1:9).
2. Stop Worrying So Much about Money
Jesus said, So do not worry, saying, 'What shall we
eat?' or 'What shall we drink?' or 'What shall we
wear?' For the pagans run after all these things, and
your heavenly Father knows that you need them.
But seek first his kingdom and his righteousness,
and all these things will be given to you as well.
(Matthew 6:31-33).
3. Change the Way You Think and Speak
You will become whatever you talk about and
think about. Stop meditating on what you do not
have and start believing on God for what you hope
for.
"I tell you the truth, if anyone says to this
mountain, 'Go, throw yourself into the sea,' and
does not doubt in his heart but believes that
what he says will happen, it will be done for him.
~ Mark 11:23
4. Hang Around with Positive, Godly People

I am not saying that you should dump all your
existing relationships but I am saying there ought
to be friends in your life who can speak words of
truth into your life. If you always hang around
people who think or behave like you, then you will
never grow financially. As iron sharpens iron, so
one man sharpens another. (Proverbs 27:17).
5. Be Grateful
Develop an attitude of gratitude, learn to be
contented and grateful for what God has provided
already. The very fact you have air in your lungs,
food on your table, are something that you can give
thanks for.
I am not saying this because I am in need, for I
have learned to be content whatever the
circumstances. I know what it is to be in need,
and I know what it is to have plenty. I have
learned the secret of being content in any and
every situation, whether well fed or hungry,
whether living in plenty or in want. I can do
everything through him who gives me strength.
~ Philippians 4:11-13
6. Prayer and Fasting

For some of you who are in financial difficulties,
you have to learn to battle your situation on your
knees. Many a time, it needs a lot of faith and
perseverance and it can only come through prayer
and fasting.
7. Obedience
Obedience many a time will bring about blessing.
The key to your financial future may be predicted
on your total obedience to the Lord. In the same
way, faith by itself, if it is not accompanied by
action, is dead. (James 2:17).
Questions:
1. What do you learn about money through this
article?
2. Are you seeking God’s kingdom and His
righteousness?
3. Have you been obedient to the Lord?
W e e k 3 8 I n s i g h t s o n T a x e s | 175
Week 38 - Practical and Scriptural Insights

on Taxes
We would like to find ways to reduce our tax payment.

There is a difference however between tax avoidance
and tax evasion. Tax evasion can results in a fine or jail
sentence whereas tax avoidance can result in lower
taxes.
The strategies we can adopt to minimise your tax

liability includes reducing your assessable income by:
 Spending foreign-earned income overseas.

 Reducing net rental income by claiming all
property-related expenses.
 Choosing benefits-in-kind over monetary
allowances when it is advantageous to do so.
 Allocating reliefs to the spouse with the higher- tax
bracket.
 Lowering tax rates through separate assessment of
spouse income.
 Allocating investment income to the spouse with
the lower tax bracket.
 Choosing the appropriate tax resident status.
 Claim foreign tax credits through the foreign tax
credit, commonwealth tax relief and unilateral tax
credit schemes.
As I am not a tax consultant, I would like to advise you

to engage a professional or visit our Inland Revenue
Authority of Singapore (IRAS) for more information.
By reducing your tax liability, you are enhancing your

disposable income.
Scriptural Insights on Taxes
Give everyone what you owe him: If you owe

taxes, pay taxes; if revenue, then revenue; if
respect, then respect; if honor, then honor.
~ Romans 13:7
Any citizen obeys the law because of fear of

punishment, but as Christians we ought to obey
because of conscience.
Is it right for us to pay taxes to Caesar or not?"

… "Show me a denarius. Whose portrait and
inscription are on it?" "Caesar's," they replied.
He said to them, "Then give to Caesar what is
Caesar's, and to God what is God's."
~ Luke 20:22, 24-25
Jesus desired that we live as good citizens when we

obey the authorities for the Lord’s sake. By us paying
taxes, we do it in a manner that is honourable to our
Lord. We are called to be salt and light to a dying
world. One of the ways to show that we are salt and
light is by our good stewardship, which will require
paying taxes.
You may be tempted to reduce taxes in a questionable

means, but God wants us to reduce taxes honestly.
W e e k 3 8 I n s i g h t s o n T a x e s | 177
There is no biblical reference that supports illegal tax

avoidance. On the contrary, we are clearly instructed
to pay our taxes.
With regards to attitude, Romans 13:7 says we owe

respect and honour to the rulers who have authority
over us, because God has put them in their place of
honour.
Questions:
1. What strategies can you explore in your tax
planning?
2. What scriptural insight have you learnt about tax
planning?
3. What does Romans 13:7 mean to you?
W k 3 9 W r o n g M a s t e r & O u t c o m e s | 179
Week 39 - Wrong Master… Wrong Outcomes
Don't you know that when you offer yourselves

to someone to obey him as slaves, you are slaves
to the one whom you obey--whether you are
slaves to sin, which leads to death, or to
obedience, which leads to righteousness? But
thanks be to God that, though you used to be
slaves to sin, you wholeheartedly obeyed the
form of teaching to which you were entrusted.
You have been set free from sin and have become
slaves to righteousness.
~ Romans 6:16-18
Do you know that you are slaves of anyone you obey?

If we give ourselves to sin, we will in fact become slaves
to sin resulting in death. But thank God that because
we obeyed the teaching, we are now set free from sin
and became the servants of righteousness.
"No one can serve two masters. Either he will

hate the one and love the other, or he will be
devoted to the one and despise the other. You
cannot serve both God and Money.
~ Matthew 6:24
We cannot be the slaves of two masters. You will like

one more than the other or be more loyal to one than
the other. We cannot serve both God and money.
The very fact is, when we serve mammon, we will tend

to place our trust and faith in it. We look to it for our
ultimate security, happiness and our future.
And we desire it more than we desire God’s

righteousness and kingdom. The danger is that it
sometimes dominates our mind and lives so that God’s
kingdom and glory are no longer first.
Therefore I tell you, do not worry about your life,

what you will eat or drink; or about your body,
what you will wear. Is not life more important
than food, and the body more important than
clothes? Look at the birds of the air; they do not
sow or reap or store away in barns, and yet your
heavenly Father feeds them. Are you not much
more valuable than they?
~ Matthew 6:25-26
Jesus did not mean that it is wrong to make provisions

for future physical needs. He did forbid anxiety or
worry that shows a lack of faith in God’s love. We are
reminded that we have to make a choice of master:
God or money? We may be so quick to give an answer,
“I would never choose money over God.” Are you sure?
If only the choice were so obvious. Unfortunately, it
never is.
W k 3 9 W r o n g M a s t e r & O u t c o m e s | 181
The world’s value subtly leads us into rationalisation

and self-deception.
For where your treasure is, there your heart will

be also.
~ Matthew 6:21
God knows that money is one of His greatest

competitors for our heart. Decide now not to let
money be our master, choose and keep on choosing
the right Master.
May we ask God to help us not to serve money but

God, choosing God as our right Master.
Questions:
1. What are your highest priorities in life?
2. How do you know?
3. How are they proven by your time and money
management?
W e e k 4 0 W h o O w n s Y o u r S t u f f ? | 183
Week 40 - Who Owns Your Stuff?
The earth is the LORD's, and everything in it,

the world, and all who live in it;
~ Psalm 24:1
This world always has been and always will be God’s.

He will never relinquish His sovereignty to anyone.
God in His goodness has shared it with us. He is the
Creator of heaven and earth and we are guests on His
planet, stewards of all that He gives us to enjoy and to
employ.
For by him all things were created: things in

heaven and on earth, visible and invisible,
whether thrones or powers or rulers or
authorities; all things were created by him and
for him. He is before all things, and in him all
things hold together.
~ Colossians 1:16-17
Paul affirmed the creative activity of Christ. All things

both material and spiritual owe their existence to
Christ’s work as the active Agent in creation. God
wants us to know that all things belong to Him. So
what does it mean to you personally?
 All includes you. You belong to God.
 All includes your stuff.
When God created Adam and gave him the honour of

taking care of the garden in Genesis 2:15, He did not
transfer ownership.
Adam was a steward, a caretaker only. He was not

created to handle the responsibility of ownership.
Therefore, we have to learn to relax and release our
stuff to God. Pray that we will not allow anything or
anyone to take His rightful place as our Master. Lord,
please help us to hold things loosely so that I can
manage them for Your glory. I am not the owner but
Your steward. I recognize Your authority, power and
control over everything.
Questions:
1. Are you taking care of God’s stuff with open hands?
2. Does God truly own your stuff?
3. Are you the ultimate authority in the way you
handle your money?
P r u d e n t I n v e s t i n g | 185
PRUDENT
INVESTING
PRUDENT INVESTING
dna-coach.com
W e e k 4 1 B i b l i c a l P r i n c i p l e s | 187
Week 41 – Biblical Principles and Investment

Opportunities
Biblical Principles in Investment
Avoid speculation and hasty investment

decisions.
A faithful man will be richly blessed, but one

eager to get rich will not go unpunished.
~ Proverbs 28:20
A stingy man is eager to get rich and is unaware

that poverty awaits him.
~ Proverbs 28:22
Evaluate the risk of investment.
"Suppose one of you wants to build a tower.

Will he not first sit down and estimate the cost
to see if he has enough money to complete it?
~ Luke 14:28
In other words, is the risk that you are taking worth it?
Can you afford it?
Avoid Investments That Cause Anxiety
So do not worry, saying, 'What shall we eat?' or

'What shall we drink?' or 'What shall we wear?'
~ Matthew 6:31
188 | P r u d e n t I n v e s t i n g
Be In Sync with Your Spouse
Husbands, in the same way be considerate as

you live with your wives, and treat them with
respect as the weaker partner and as heirs with
you of the gracious gift of life, so that nothing
will hinder your prayers.
~ 1 Peter 3:7-8
Often God uses our spouse to bring us back to reality.

Do not be so foolish or proud as not to take advantage
of the partner God has given you.
Avoid High-Leverage Situations

~ Proverbs 22:7
Tithe Your Profit

firstfruits of all your crops; then your barns will
be filled to overflowing, and your vats will brim
over with new wine.
~ Proverbs 3:9-10
Many investors put off tithing because they assume

that the investment will bring higher returns, which
results in having more to tithe. Instead, keep your
focus on the reason for your investments as good
stewardship. Know what your strategy is and the steps
to take to accomplish your goal.
W e e k 4 1 B i b l i c a l P r i n c i p l e s | 189
Specific Investments
For those who are still accumulating wealth, you can

explore three primary types of investments:
1. Money Market Instrument

These investment products are liquid and yield
very little risk of using capital. These investments
include certificate of deposit, treasury bills, savings
account and money market funds.
2. Mutual Funds
This is a pooled fund in money from many
investors that is entrusted to a professional
investment manager. The advantage of using
mutual funds for accumulation is that you achieve
professional management, diversification in your
investment, liquidity and many other options to fit
your risk appetite.
3. Real Estate Investments
It comprises of either personally-owned real estate
or public real estate partnership. Personally-
owned real estate will involve a great amount of
money, time and risk. For many investors, Real
Estate Investment Trust (REITs) is becoming a
preferred method.
A good investment strategy will usually achieve

these four objectives:
1. Maximize liquidity.
2. Maximize growth.
3. Maximize growth yield.
4. Minimize risk.
These four universal investment objectives can be

quantified, depending upon one’s age, temperament,
tax situation, personal philosophy, perception and
goals. Then, an investment portfolio can be designed
according to one’s objectives.
Questions:
1. What is God saying to you through this article

about investments?
2. What does it mean to honour the Lord with your
wealth?
3. What causes you the most worry? What is God
saying to you through Matthew 6:25-34?
W e e k 4 2 – W i s e I n v e s t i n g | 191
Week 42 – Wise Investing

Before involving yourself in any investment
opportunities address two questions, “Why are we
investing?” and “How will we use our investment
treasures?”
How Much to Invest
The amount of money you can invest will depend on

what you have left after your offerings and after taking
care of your personal and family needs. God wants us
to multiply the money He gives us as shown in the
parable of talents. Your investments play an important
part in your ability to accumulate and compound the
money. Your individual circumstances and risk profile
will determine what specific investments are
appropriate for you. There is no one size that is fit for
all; the investments that are good for me may not be
the best for you.
Before you invest, set your financial goals and markets.

Develop investment strategies and implement it.
Monitor your investments. Below are factors that will
influence your financial goal settings:
 Investment time frame.
 Priorities.
 Investment funding potential.
 Return on investment.
 Life cycle.
 Income needs.
 Risk tolerance.
Before embarking on any investment opportunities,

begin to educate yourself by reading articles and
magazines written by professional. There are also
financial planners and stockbrokers who are available
to assist you.
Choose your financial counsellors carefully.
Good for them to bear some of the following

qualities:
1. Above reproach as God’s steward.

2. Not self-willed.
3. Not quick tempered.
4. Not addicted to wine.
5. Not pugnacious.
6. Not fond of sordid gain.
7. Loving what is good.
8. Sensible.
9. Just
10. Devout.
11. Self-controlled.
12. Holding fast to God’s word.
W e e k 4 2 – W i s e I n v e s t i n g | 193
Identify Investment Objectives
Let us look at your investment objectives. They relate

to the attributes you need to determine your
investment.
Investment objectives are:
 Preservation of your capital.

 Hedge against inflation.
 Tax-free return.
 Recurring income.
 Appreciation and growth.
 Liquidity of the investment.
 Ease of management.
 Flexibility – to top up and withdraw.
 Diversification.
You have to determine and define your objective.

Typically an investor will select an appropriate mix of
investments. There are six common mistakes investors
make. They usually follow the crowd. When everyone
else buys or sells, they do likewise, assuming that the
crowd is right. They are also never willing to take any
risk. My advice is to take calculated risks. Many
investors are too conservative. Sometimes people do
act on hot tips. Good investments are made through
careful analysis and seeking professional counsellors.
Not many people are consistent in their saving and

investment. The key is to save consistently. Once you
start investing, you need to monitor and evaluate the
performance. And do not buy into financial scams.
Before doing business with someone, research his or

her background, including experience, investment
philosophy, references and any history of disciplinary
action.
Questions:
1. How important is it for us to seek knowledge and
wisdom in our investing? (Proverbs 10:14, 15:14,
16:16, 23:23, 24:3-5)
2. What warning are we given about get-rich
schemes? (Proverbs 10:2)
3. Where does God want some of our treasures to go?
(Proverbs 3:27, Acts 2:45)
W e e k 4 3 S a v i n g a n d I n v e s t i n g | 195
Week 43 – Saving and Investing
All of us wants to see our money grow. But we are

seeing an increasing number of people piling up their
debts with little or no savings. A lot of us like to spend
money but do not like to save. And although most of
us know how to work for money, few know how to
make the money work for them. Therefore, it is time
for us to save and invest.
In the house of the wise are stores of choice food

and oil, but a foolish man devours all he has.
~ Proverbs 21:20
In the Bible, the ants are commended for saving for a

future need (Proverbs 30:24-25). Many times, in order
for us to save, it requires self-denial – denying on
expenditure today so that we will have something to
spend for the future. Unfortunately as Singaporeans,
we are developing a culture of self-indulgence, not
self-denial. We live in the society where when we want
something, we want it immediately.
In Matthew 25:14-30, Jesus tells the story of a man who

left money for three of his servants to invest.
The master commended the first two servants for

investing the money wisely and condemned the third
for not doing anything about it. Sometimes, we
Christians are so scared of taking any legitimate risk.
In our context today, we need to invest and save in any
investment that can yield 3% so as to beat inflation.
Putting money in the bank will erode our money with

the 0.5% to 1% interest. Saving money consistently
requires self-denial. For some, it may require a change
of lifestyle. We may have to stop ourselves from
spending on our wants. Nobody is going to beg you to
save unless you really want to. Most advertisers and
merchandisers are telling us to spend, spend and
spend.
Learn from the ants, who store up food in the summer

so they will have something to eat in the winter
(Proverbs 6:6-8). Arrange an automatic payroll
deduction to channel your funds to either a savings
plan or account so that a certain portion of your
income is saved regularly. Ideally set aside at least 10%
of everything you earn into a saving plan but if you
cannot do that, then save whatever you can, but save
something.
I do not think that the Bible is against us from

investing but we must check our motives before we
invest.
The Bible condemns the motivation to get rich

instantly, but you invest because you do not think it is
wise to throw away money that God has entrusted to
you. When you gamble at casinos and play the lottery,
the odds are against you. It is almost a guaranteed way
to lose money. Saving and investing is a way of
planning for your future.
W e e k 4 3 S a v i n g a n d I n v e s t i n g | 197
With the help of a financial advisor, your chances of

increasing your funds should outweigh the risks if you
have a long-term horizon.
For someone who has never invested before, I strongly

recommend that you find a good financial advisor. As
a matter of fact, I think even the experienced investors
need a financial advisor. Find someone who is
experienced, ethical, an expert and who shares the
same value with you and start investing.
Questions:
1. What happens to those who put their wealth
before God? (Proverbs 28:20).
2. What are the consequences for not diligently
managing and investing money? (Proverbs 24:33-
34).
3. How important are effort and discipline in our
financial activities? (Proverbs 14:23, 21:5).
W e e k 4 4 T h e R e a l D e a l | 199
Week 44 - The Real Deal about Real Estate
There is no place like home. Yes, there is nothing like

owning your own home, thanks to our Singapore
government who made this possible for us. As
Singaporean, a home is more than a financial asset. A
home is a place to live in and raise children, and plan
for the future. But make sure you invest on the
property that you can afford. Do not follow the crowd.
Remember, it is better to buy the home or property
that fits your budget. Work out your budget.
In my opinion, your house payments should not be

more than 35 percent of your net spendable income
(that is income minus CPF, taxes and tithes.) Choose a
house that you can afford, taking into account your
giving, saving and other lifestyle choices. One of the
biggest mistakes I see is when young married couples
quality for a mortgage based on both their incomes
and get the largest house on the maximum mortgage
loan they can get. After a few years, they have children
and decide the wife should stop working and become
a stay-at-home mom. But unfortunately, she cannot
because of their mortgage that is based on both
incomes.
The number one financial problem facing most young

couples face is they spend too much on housing. I am
a strong advocate of buying a home that you can afford
and paying off your mortgage loan as soon as possible.
People may advise otherwise due to whatever reason.
I would rather live debt-free and pay off my house as

fast as I can. In order to do that, we may have to force
ourselves to do so. Therefore, a shorter year mortgage
is best. I know it is going to be tough and a little bit
tight, but most of us can make our lifestyle adjustment.
If you are not brave enough to do a fifteen years
mortgage, then pretend that your thirty-year mortgage
is a fifteen-year mortgage. Simply make the payments
as if you had a fifteen-year mortgage. In that way, you
are not locked in but you can still accomplish your
goal. I usually used my bonus for my capital repayment
and I can determine the amount of the payment based
on available funds.
For some of us, investing on a second property may be

a good option. You can generate rental income and
also profit from increasing housing prices. But before
you do that, you have to make sure your financial
house is in order. You need to be financially healthy to
succeed as a real estate investor. Make sure you crunch
the numbers properly. As an investor you should think
of profit and loss and risk and reward.
Therefore, your cash flow is very important. Do not

subject yourself in a situation whereby you have to
false sell your property because of your cash flow. As
an investor, most of us make money out of our capital
appreciation, which means you need to have holding
power.
W e e k 4 4 T h e R e a l D e a l | 201
Before investment, know your market. One of the key

ingredients to any successful real estate transaction is
location, location, location! It pays to know something
about the market condition in the area before you
invest.
If property are in short supply, you probably do not

have a problem in renting or selling. Your first line of
defence against vacancies is a good evaluation of the
rental market before investing.
Remember that owning an investment property is a

business; you have to be willing and able to commit
the time and money in order to run your business
successfully. So make sure you understand how much
time and money you will have to spend, before you
invest.
Questions:
1. Is it better to pay off my mortgage early or keep
taking the tax deduction (investment property)?
2. What is the best way to pay off our mortgage early?
3. What should I know before buying any investment
property?
R e t i r e m e n t P l a n n i n g | 203
RETIREMENT
PLANNING
RETIREMENT PLANNING
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204 | R e t i r e m e n t P l a n n i n g
W k 4 5 R e t i r e m e n t P l a n n i n g P t 1 | 205
Week 45 – Retirement Planning (Part 1)
We spend close to a quarter of our lives in retirement.

The average new-born female could expect to live
longer than the average new-born male. A girl born in
2013 would expect to live an average of 84.6 years,
longer than the average of 80.2 years for a boy. This
sounds like a wonderful prospect, but accumulating
enough money to live comfortably for that many years
is a daunting task. One of the common mistakes
people make is not planning early for their retirement.
Despite its importance, retirement planning is often

neglected by most individuals. For some, retirement is
too distant and for others, they may feel that their CPF
saving will provide enough of a nest egg for their old
age.
To achieve our goal, we must start planning as early as

possible. We may not be able to depend on our family
to support us during old age. With our high standard
of living, higher medical cost and increase in life
expectancy, we need more money to meet our living
expenses during retirement. Many people will not have
enough CPF savings for their old age.
So how would you go about planning for retirement?

It involves four simple steps of setting your retirement
goals, estimating your financial resources,
determining the shortfall in funds and formulating an
investment or saving plan.
Common questions about retirement
1) What should be my priority: saving for my

retirement or investing for my child’s education
funding?
Ideally you should plan for both but if you are tight on
fund, than planning for retirement funding is more
important. Please understand that I am answering
purely from the financial point of view. I know you love
your children and want to help them fulfill their
dreams and achieve their success but on the other
hand you are also concerned whether or not you can
retire comfortably.
Your children do have many options they can explore

but you don't. They can work in order to pay their way
through college. They can also take study loans or
apply scholarship but unfortunately there are no
scholarships for retired people or senior citizens loans
to help you to get by.
2) When should I begin investing for my

retirement?
As soon as you can. Don't wait because time magnifies

compound interest. The earlier you start the better.
Even $1000 left alone to earn 6 percent a year will
multiple to $39,000 in twenty years! That is the power
of compounding interest.
3) I'm over fifty years old, it is possible for

someone like me to catch up with my investment?
You need to ask yourself, why haven't you been able to

invest it save? Whatever the reason, you need to
correct the behaviour and start saving or investing.
Then you have to make some tough decisions like

downsizing your house, driving a cheaper car,
traveling by public transport or continuing to work as
long as your situation allows. Whatever it takes, you
must free up some money and starting building your
nest egg.
The Common Pitfalls in Retirement Planning
People tend to start too late, save too little and earn
too little with their saving and investment. Our
Singapore government recognises the fact that
Singaporeans are living longer, and hence will need
more money to see them through old age. In light of
this, the government proposed all CPF members to set
aside savings in their retirement accounts, to allow
them to use their savings to buy an annuity from an
approved life insurance company. Instead of
purchasing an approved annuity, you can also deposit
the minimum sum in a CPF approved bank or you can
choose to leave your money with the CPF board.
In conclusion, my advice to you is to start planning.

How you want to live your retirement depends on how
you save and invest while you are working. Start
planning early, save sufficiently and invest wisely so as
to ensure a pleasant and comfortable retirement.
Questions:
1. What is the average life expectancy for man and
woman?
2. Have you started too late, saved too little or earned
too little in your retirement plan?
3. How do you see yourself spending your time as a
retired person? How much will it cost?
Week 46 – Retirement Planning

(Part 2)
Do you have the resources to spend up to a third of

your life in retirement? Retirement can be great and
can be the time when you enjoy the fruit of your
labour. But if you are not prepared, you can be
financially broke and you can be depressed or even in
despair. Be prepared for your retirement years.
Is retirement biblical? Today we believe that at some

point in our lives we can stop working and enjoy our
lives. But what does the scriptures have to say about
retirement? To me, it could mean I slow down or stop
working and increase my level of volunteer work in the
church. But in order to do that, I have to plan ahead
during my pre-retirement stage to save more so that
during retirement, I have the freedom to choose and
serve.
Unfortunately with our cost of living, most of us may

need to spend much of our time just making a living.
Without an adequate saving plan, we may find
ourselves lowering our standard of living or working
longer than we had expected.
So if you do not want to work during retirement, you

will need to spend a great deal of effort and planning
before retirement. You have to plan, save, and invest.
Do not retire too early, avoid procrastination and start
planning.
Start planning and saving for your retirement. Your

CPF fund may not be sufficient to meet your
retirement needs. Eliminate debt and usually that
starts off with your credit card first. Create an
emergency fund of six months of your living expenses.
Contribute to your CPF fund and create retirement
assets so as to enjoy passive funds during your
retirement. Treat your monthly investment and
savings plan as your fixed expenses, you will be more
likely to save more.
Planning for retirement and having a commitment to

save go hand in hand. You have to be intentional as
your retirement nest egg will not happen overnight.
Take advantage of the miracle of compound interest.
The longer you wait to save, the less time your money
has to work for you. There are ways to increase your
savings and decrease your spending. Is there any way
you can increase your income and reduce your
expense? Perhaps you have to eat out less and spend
less on luxury goods. Reduce credit and debt. Make it
your first priority to get rid of your credit cards debt.
You may have to look at your investment strategy and
invest in growth mutual funds.
Can you rely on your CPF fund? Is it enough? Do you

have other saving plan and assets to cushion you? The
general rule of thumb is that you need between 70 to
80 percent of your present income when you retire.
Insurance Issues
Health Insurance
Most retirees live on fixed income and neglect looking

into their health insurance. A serious health problem
without insurance could eliminate all retirement
saving. Be sure you have good Medi-Shield plans and
if need to, top up with an integrated Shield plan.
Looking forward to your golden years in retirement?
For many, the retirement lifestyle, the anticipated and
hoped for will not be a reality. Is there any hope? Yes,
but it requires a process of planning, commitment and
developing strategies for providing for a comfortable
retirement.
Only you know what you want your retirement years

to be like and only you can plan and work towards it
and achieve your goals.
Questions:
1. Why would eliminating credit cards and
instalments be an important step rather than
putting money in savings?
2. Are you financially prepared for your retirement?
If not, what action do you need to take in order to
reverse the situation?
3. Do you intend to set aside more of your time in
serving the Lord during your retirement?
E s t a t e P l a n n i n g | 213
ESTATE
PLANNING
ESTATE PLANNING
dna-coach.com
214 | E s t a t e P l a n n i n g
W k 4 7 L i f e I n s u r a n c e & E s t a t e P l a n | 215
Week 47 - Life Insurance and Estate Planning
We know that we will die one day but we will not know
exactly when and under what circumstances we are
going to die. Being in the insurance business for over
20 years, I have seen some people left either little or no
money behind for their family. Far too many men and
women are financially unprepared for the day they
meet their Marker because of procrastination, fear and
ignorance about life insurance and estate planning.
I know that many people do not like to talk about

insurance and estate planning. Yet insurance and
estate planning are two of the most important aspects
of financial planning.
Proverbs 13:22 talks about good people who will have

wealth to leave to their grandchildren. One of the best
ways to achieve that is to have the proper amount of
life insurance and do adequate estate planning.
We all do not like to talk about death and yet 100

percent of all people born today will eventually die.
Therefore you need to plan so as to ease the burden on

your family when you make the transition.
There are four areas:

1. Estate planning.
2. A will or a living trust.
3. Life insurance.
4. Financial records.
Estate planning is not just for the rich but for

everybody. Estate planning helps us to determine who
get to keep our assets or estate. I will give you some
general guidelines about insurance and estate
planning. However, since this is a very complex area
and each individual situation is unique, I recommend
you seek wise and professional counsel before taking
specific implementation steps. It may require input
from tax attorney, life insurance agent or financial
planner, banker and lawyer. I simply want to get you
started in the process.
Life Insurance Planning
Why insurance? The basic purpose of insurance is to

transfer the risk that one is not willing to take or
unable to take to the insurance company who is willing
to take the risk in return for compensation or premium
payment.
The objective of life insurance is first, to protect the

family income and net worth growth in the event of
the death of the breadwinner and second to provide
protection to maintain the estate (house, car,
property) in order that it might pass on to the heirs.
Buying an insurance is not a shifting of trust from God

to insurance. If anyone does not provide for his
relatives, and especially for his immediate family, he has
denied the faith and is worse than an unbeliever.
Insurance helps to give your family the opportunity to
continue to live in a proper environment. ~ 1 Timothy
5:8
How much do I Need?
There is no one-size-fits-all solution, because the

greater your financial need, the more life insurance
coverage you require. Most people need enough life
insurance to cover five to ten times their annual salary.
This method is pretty simplistic because it does
require you to address any specific insurance need
such as education funding. You can explore another
method that is based on a person’s financial needs that
involves determining the expenses you need to cover.
Some of these expenses will include funeral expenses,

income replacement, education funding, pay off of any
outstanding debts and taxes.
With this method, you should also minus all other

assets that you have accumulated to calculate your
insurance coverage.
1. Should I buy a term or whole life insurance?

Term-life insurance protects you for a specific term
with no cash value. With whole life plan, the policy
does not expire after a set period of tie. As long as
you pay the premiums, the policy remains in effect.
Sometimes, you need to buy a mix of both.
Whichever you choose, you have to consider cost,
coverage and complexity.
2. Is it wise to have all my life insurance through

my employer?
No, it is not wise to have all your insurance
through your employer. The reason being you may
leave or get fired from your job or you may want to
have additional policy to protect your insurability.
If you develop an illness such as cancer, finding
affordable insurance or any at all will be difficult.
3. Is there any other insurance cover that I need?

a. Your health is the top priority. With
advancements in medical science,
treatment is available for a wide range of
ailments and illnesses. However, treatment
cost money and healthcare cost are
expected to rise substantially in the future.
Have you provided for such expenses?
Buying a critical illness protection plan will
give you financial support for the
treatment of critical illness even in the
early stages. Some of other plans also cover
protection against critical illness, total and
permanent disability and loss of life. There
are other standalone hospitalisation
income plans, such as one that provides
you with daily cash for each day of
confinement in a hospital due to sickness
or an accident.
b. You may also like to explore buying a

disability insurance. This is essentially pay
check protection. If you are sick or injured
and cannot work, disability insurance
replaces up to 70 percent of your income.
It allows you to pay most of your bills.
Please also consult your insurance advisor
for your detailed planning.
Questions:
1. What four areas do I need to look into in my
planning?
2. Why is it important for me to buy insurance?
3. How much do I need?
W e e k 4 8 E s t a t e P l a n n i n g | 221
Week 48 - Estate Planning
Reasons Given for Not Planning:

1. My estate is too small.
2. It is too expensive.
3. I do not have enough time.
4. I am not certain about what I want to do.
5. I view planning negatively because it is indirectly
related to death.
6. I am too busy.
7. I do not bother to plan my finances at all.
Objective of Estate Planning
When you develop a proper estate plan, your family

members would have been spared the frustration and
the additional cost of court battles just to divide your
estate. So your objective is to ensure the maximum
value of the deceased’s assets and wealth is distributed
according to his or her genuine wishes. You want to
provide for ease of management and administration of
estate, care of immediate family e.g. guardianship,
provision for children and charity. How then would
you develop an estate plan to ensure that your
beneficiaries get the maximum value from your estate?
You can adopt the following strategies:
1. Minimise Your Estate Duty

Giving gift while he is alive or setting up a trust or
a hold company.
2. Minimise Administrative Cost and

Inconvenience
Writing a will is a critical component that will
shorten the court procedure and hence reduce the
administrative and legal cost.
3. Appoint A Capable Executor to Manage Your
Estate
Appoint someone who is trustworthy, financially
competent and have you and your beneficiaries’
interest at heart to administer and distribute your
estate upon your death.
4. Appoint Trustworthy Individuals As
Guardians
In case where some of your beneficiaries are
minors, you need at least two legal guardians. The
role of the guardian is to hold your assets, invest or
use any financial resources in the estate for the
benefit of these minors.
There are five procedures to develop a sound estate

plan:
1. Ascertain How Much Assets You Own

a. Itemise your assets.
b. Ownership of assets.
2. Determine How You Want Your Estate
Distributed
W e e k 4 8 E s t a t e P l a n n i n g | 223
3. Decide in the Means of Transferring Assets

through:
a. Gifts.
b. Set up a trust.
c. Specify the beneficiaries such as life
insurance policies, CPF saving and
annuities.
d. Right of survivorship – for joint ownership
of property and joint bank account –
ownership of assets automatically goes to
the surviving owner.
e. Will.
f. Trust.
g. Intestacy Law.
There are many other technical aspects of estate

planning that are beyond the scope of this article. Both
financial planning and estate planning need to begin
at an early age. They are dynamic in nature and having
to procrastinate in either area is poor stewardship.
Questions:
1. What are the reasons given for not planning?
2. What strategies can I adopt in estate planning?
3. What procedure do I need to develop in order to
provide a sound estate plan?
~ Adapted from Personal Financial Planning by Koh

Seng Kee, Fong Wai Mun
W e e k 4 9 P o w e r o f A t t o r n e y | 225
Week 49 - Power of Attorney
What is the purpose of executing a power of attorney

and why do people need it? A power of attorney has
been defined by the Supreme Court of Singapore as an
instrument created by a person who entrusts someone
to act on his behalf. It is a legal document voluntarily
entered into by two parties and duly certified by a
notary public, usually a lawyer. The first and second
party in the power of attorney are: the principal and the
agent, respectively. In the power of attorney, the
principal appoints the agent to perform a task in a legal
capacity in his lieu.
The power of attorney empowers the agent to act upon

any legal circumstance necessary of the principal,
mostly if the latter cannot conduct with others, his
legal affairs in person. This scenario happens in most
cases, when the principal is gone from his domicile or
away on a business trip for a lengthy period; or worse,
if the principal is ill. The designated agent can handle
an individual’s legal and financial affairs in the event
of an accident or health problem that causes the
person to be unable to handle them. It is one of the
simplest and cheapest ways of continuing the
management of your affairs in the event of incapacity.
The Power of attorney is effective only while the
principal is alive, but it can specify estate planning
actions to be taken if the client becomes disabled. One
action among many would be to continue or begin a
charitable gifting strategy.
Your power of attorney may be as broad or narrow in

power as you wish. You may authorize the individual
whom you select to manage your financial affairs to
virtually handle all financial matters or you may be
very specific about what you want the person to
handle. The selection of your agent needs to be done
carefully because that person may be given authority
to collect, invest, and disperse money. If a professional
is used, fees may be involved.
A most common use for the power of attorney is when

the principal enters into a transaction such as the
purchase of a real estate property. The agent, by virtue
of the power of attorney, deals with the company, or
owner of the property until the sale is consummated.
Thus, the agent pays for and signs all the legal
documents necessary (such as purchase application
form, contract to sell, deed of restriction, etc.) for the
business venture between the principal who is the
buyer, and the property owner who is the seller.
Normally, the power of attorney is revocable or can be
cancelled at any time. As such, the principal has only
to accomplish the revocation of the power of attorney
and again, have the cancellation duly certified by a
notary public. The power of attorney also becomes null
and void upon the death of the principal.
Questions:
1. What is the purpose of executing a power of
attorney?
2. Why do people need it?
3. Why is the selection of your agent important?
W e e k 5 0 W i l l s a n d T r u s t s | 227
Week 50 - Wills and Trusts
A will is a legal document that sets forth how an

individual’s asset will be managed and distributed
upon one’s death. The will leave the asset specifically
to named individuals known as beneficiaries. You
must be witnessed by at least two witnesses. These
witnesses can be any majors (above 21 years of age)
except for the following:
o Spouse of the will writer.

o Beneficiaries of the will.
The maker of the will must be of sound mind and of

legal age. You may wonder is it worth the effort and
money to engage a lawyer to write a will. My advice is
you should consider leaving the drafting of wills to
professional. Wills are too important and too technical
to leave to an amateur’s effort.
When writing your will, be mindful of the type of

estate you own and how that estate is titled. Wills do
not transfer property that goes by other planning
devices or by operation of law.
Remember joint tenancy which automatically provides

that the surviving tenant becomes the legal owner of
the assets regardless of what a will says. It may be
important to know what your assets are and not affect
your will. Prior to your death, your will is revocable –
it can be amended, altered, or revoked a number of
times. Therefore, the date on which the will was
drafted should be clearly specified.
Only the latest will shall be legally enforceable. At

death, the will becomes irrevocable.
Dying Without a Will
Laws of Intestacy
Singapore
Deceased dies leaving…
($100,000)
No Issue and No To Spouse
Parents. $100,000.
Issue and No Parents. To Spouse
$50,000.
Issue and Parents
Spouse To Issue $50,000.
To Spouse
$50,000.
No Issue But Parents.
To Parents
$50,000.
Issue and No Parents. To Issue
Issue and Parents. $100,000.
No Issue, No Parents To Brothers &
But Brothers & Sisters. Sisters $100,000.
No Issue, No Parents,
To Grandparents
No Brothers & Sisters,
$100,000.
But Grandparents.
No
No Issue, No Parents,
Spouse
No Brothers & Sisters, To Uncle & Aunt
No Grandparents, But $100,000.
Uncle and Aunt.
No Parents, No Issue,
No Brothers & Sisters, To Government
No Grandparents, No $100,000
Uncle and Aunt
Notes:
o Legally adopted children but not illegitimate children
have succession rights on the death of an intestate
under the Intestate Succession Act.
o The Act does not apply to the estate of any Muslim or
affect any rules of the Muslim law in respect of the
distribution of the estate of any such person.
o No distinction is made between relatives of the same
class whether of the paternal or maternal side.
o Full blood relatives take before half blood relatives of
the same class.
Source: Financial Life Coaching Pte Ltd

(Used with permission.)
Trust
A trust is a legal arrangement involving three parties:

the grantor, the trustee and beneficiaries. The grantor
is the one who sets up the trust. He is the owner of
assets that are being transferred to the trustee. The
trustee can be an individual or an institution. The
trustee is responsible for managing the assets for the
benefit of the beneficiaries of the trust.
The advantages of setting up a trust are:

1. Competent management of assets (trustee can be
a professional institution.)
2. Protection of assets.
3. Confidentiality.
4. Avoidance of probate.
5. Flexibility.
6. Tax benefits (estate duty imposed is minimised.)
In conclusion, if you have not prepared an estate plan,

now is the time to do it. Gather information, make
plans and set up an appointment with an attorney to
review them. Communicate your desires to your family
and loved ones.
Remember that your last will and testament is your

lasting opportunity to share your love for the Lord and
with your family and friends.
Be faithful, even to the point of death, and I will

give you the crown of life.
~ Revelation 2:10
Questions:
1. What is a will?
2. What happens if I die without a will?
3. What is the advantage of setting up a trust?
T h e C h a l l e n g e | 233
THE CHALLENGE
THE CHALLENGE
dna-coach.com
234 | T h e C h a l l e n g e
W k 5 1 D o N o t M i s s t h e M i r a c l e s | 235
Week 51 - Do Not Miss the Miracles
I have often wondered what it is going to be like to

stand before the Lord. I wonder whether I will hear
Him say, ‘Well done, good and faithful servant! You
have been faithful with a few things; I will put you in
charge of many things. Come and share your master's
happiness!' (Matthew 25:2).
Then, because so many people were coming and

going that they did not even have a chance to
eat, he said to them, "Come with me by
yourselves to a quiet place and get some rest."
So they went away by themselves in a boat to a
solitary place. But many who saw them leaving
recognized them and ran on foot from all the
towns and got there ahead of them. When Jesus
landed and saw a large crowd, he had
compassion on them, because they were like
sheep without a shepherd. So he began teaching
them many things. By this time it was late in the
day, so his disciples came to him. "This is a
remote place," they said, "and it's already very
late. Send the people away so they can go to the
surrounding countryside and villages and buy
themselves something to eat."
But he answered, "You give them something to

eat." They said to him, "That would take eight
months of a man's wages!
Are we to go and spend that much on bread and

give it to them to eat?" "How many loaves do you
have?" he asked. "Go and see." When they found
out, they said, "Five--and two fish." Then Jesus
directed them to have all the people sit down in
groups on the green grass. So they sat down in
groups of hundreds and fifties. Taking the five
loaves and the two fish and looking up to
heaven, he gave thanks and broke the loaves.
Then he gave them to his disciples to set before
the people. He also divided the two fish among
them all. They all ate and were satisfied, and the
disciples picked up twelve basketfuls of broken
pieces of bread and fish. The number of the men
who had eaten was five thousand.
~ Mark 6:31-44
What do I learn from this message?
#1 Spend Time Alone with Him.

The first step to financial planning is to be alone with
Jesus and listen to what He has to say. Unless you hear
God’s voice, you cannot take a second step of effective
planning.
#2 Do Not Be Married to Your Plan

Jesus had a plan to go with His disciples to a quiet
place. However, when He saw the needs, He had
compassion on the people and responded to their
needs. Be sensitive to God so that you will not miss
God in your planning.
W k 5 1 D o N o t M i s s t h e M i r a c l e s | 237
#3 Seek the Mind of Christ

His disciples came to Him and said, "This is a remote
place," they said, "and it's already very late. Send the
people away so they can go to the surrounding
countryside and villages and buy themselves something
to eat." (Mark 6:35). This advice seemed practical and
logical but it was not in accordance with what Jesus
intended at that point. Some of the professional advice
that came from our friends and expert may sound
logical but may not be godly.
#4 Obedience is Critical to Success

The disciples argued a bit but eventually obeyed.
Therefore, we too need to submit to God in our
planning process. If God says to give, I give. If God says
to pay off a debt, I do it. If God says to decrease the
lavishness of my lifestyle, I do so.
#5 Follow Our Father’s Plan

As much as the disciples did not see how the people
were going to be fed through the five loaves and two
fishes, we too may not be able to see how we are going
to meet our financial goal. Faith planning may require
us to do it without full understanding, just like Noah’s
building an ark and not fully understanding what God
was going to do.
#6 Do Not Miss the Miracle

However in verses 51 to 52,
Then he climbed into the boat with them, and
the wind died down.
They were completely amazed, for they had not

understood about the loaves; their hearts were
hardened.
What a tragedy! Just a few hours earlier they had seen

an unbelievable miracle and had participated in the
miracle and verse 52 says, for they had not understood
about the loaves; their hearts were hardened. So do not
miss the miracle just like the disciples. Take your first
step, then the second step, then the third step. Be
faithful with regards to what He has given you and You
will hear Him say, “‘Well done, good and faithful
servant! You have been faithful with a few things; I will
put you in charge of many things. Come and share your
master's happiness!' (Matthew 25:2).
Remember, Jesus did not perform miracles just to meet

human needs, though that was important. He wanted
each miracle to be a revelation of Himself, a sermon in
action. For the most part, the people were amazed at
the miracles, appreciated the help He gave them, but
failed to get the spiritual message. They wanted the
gift but not the Giver, the enjoyment of physical
blessings but not the enrichment of spiritual blessings.
Questions:
1. What has Jesus fed you when you have been
spiritually hungry lately?
2. If you went to a solitary place with Jesus, what
would you talk about?
3. What do you learn from this article?
~ Adpated from “Master Your Money – By Ron Blue”.
W e e k 5 2 L a s t i n g T r e a s u r e | 239
Week 52 – Lasting Treasure
What good is it for a man to gain the whole

world, yet forfeit his soul?
~ Mark 8:36
Nothing can make up for the loss of one’s soul. Yet how
many of us regularly exchange our lives for much less
than the whole world? For we brought nothing into the
world, and we can take nothing out of it. (1 Timothy 6:7).
For what is seen is temporary, but what is unseen is
eternal. (2 Corinthians 4:18b). That is why we keep our
minds on the things that cannot be seen. And now
these three remain: faith, hope and love. But the
greatest of these is love.(1 Corinthians 13:13).
As we bring a closure to this subject on financial

management, what is the overall view of God and
finance? Let God’s perspective determine our values.
Only by viewing life through the lens of eternity can
we see our lives and our assets as they really are. Life is
short and eternity is long. Money and possessions do
not last, but what we do with our money can count
forever. Having an eternal perspective helps us to deal
with earthly ups and downs, stock market highs and
lows and the wanting to always acquire more and more
stuff. If I am concerned about God being glorified,
then I am less concerned about hoarding, being
comfortable, or keeping up with my neighbour.
The Bible reminds us of the brevity of our lives.
Now listen, you who say, "Today or tomorrow

we will go to this or that city, spend a year there,
carry on business and make money." Why, you
do not even know what will happen tomorrow.
What is your life? You are a mist that appears
for a little while and then vanishes. Instead, you
ought to say, "If it is the Lord's will, we will live
and do this or that."
~ James 4:13-15
Since life passes so quickly, we cannot afford merely to

spend our lives on earthly pursuits and we certainly do
not want to waste our lives. We must invest our lives
in those things that are eternal. We will choose to
focus our lives not on temporary wealth, but on God.
God offers us treasure that lasts forever: a relationship
with Him that begins here and continues for eternity
in heaven. What will we benefit if we give up on what
really matters to get a few more possessions? Nothing
is worth more than knowing Jesus.
Questions:
1. What will you gain if you own the whole world but
lose your soul?
2. What should be our main motivators for our life
strategy?
3. What is the overall goal of everything we have
said?
P a g e | 241
Doris is a Certified Financial Planner and a

Senior Director, Financial Services. She recruits,
coaches, trains and develops Financial Planners
and managers to be their best. She has groomed
Top Adviser, First Court of Table Adviser, a team
of professional Certified Financial Practitioners
and achieved Top in Productivity as a Director,
Financial Services. She is a Certified Professional
Doris Ng Coach with International Coach Academy,
Senior Certified Career Coach and Certified
Director, Transformational Leadership Coach.
CFP®, CPC
Doris Ng has successfully groomed
 Top Agent of the Year (YA 2000)
 1st Court-Of-The-Table adviser (YA 2001)
 A Team of Professional Certified
Financial Practioners
E-Book Download E-Book Download

242 | P a g e
My Services to You:
• “Multiplying Marketplace Miracles” and
“Marketplace Manna” are made available at 51 Bras
Basah Road, #07-02 Manulife Centre, Singapore
189554.
Price: S$20/- each.
• You may purchase in bulk for educational, business

or fund-raising purposes, at a special price. For more
information, please email to [email protected].
• “Marketplace Manners” and “Soul Food for the

Hungry Christian” are also made available to you free
of charge. You can download this book at dna-
coach.com.
However, if you feel led to give, kindly channel all funds

to my mission fund: Account number DBS Savings Plus
0171077783 or cross cheque to Ng Siew Lian Doris, mail to
51 Bras Basah Road, #07-02 Manulife Centre, Singapore
189554.
• I am also offering a free 30 minutes Career Coaching

Session for people who purchased “Multiplying
Marketplace Miracle” and/or “Marketplace Manna”
books.
For enquiries, please call Doris @ 6833 8433.

May this humble effort bless you.
Blessings
Doris Ng
Senior Director, Financial Services
Life Coach
P a g e | 243
Doris Ng’s Multiplying Marketplace Miracles is a personal

account of her experiences working in the commercial world.
Well supported by the Scriptures, her personal testimony is very
touching and honest… I would strongly recommend this book
to anyone who works in the commercial world.
Dr Lee Suan Yew

...............
$20/-Nett
You hold in your hands a devotional that will help you
cultivate a wholesome appetite for the Word and apply it in the
marketplace. It is thoughtfully put together by one who is
intimate with God and diligent in the Word. One who is excited
about the godly influence Christians can bring to the
marketplace. One who cares about the spiritual intelligence and
emotional quotient of marketplace believers – their view of
God, their view of themselves, their view of life, their view of
the world.
$20/-Nett Mrs Lai-Kheng Pousson
Special Assistant, LoveSingapore
...............
Market Place Manners is all about character, molded by Christ
that will sustain the business man or woman in their search for
profit and position. Ambition is tempered by a concern for the
well- being of others and avarice defeated by proper
stewardship. Doris lives and teaches how to do all and stand in
the name and power of her Lord and Savior, Jesus Christ.
E-Book Download Mark Geppert

President of South East Asia Prayer Centre
...............
In this wonderful devotional book, Doris Ng takes us from

Genesis to Revelation and gives us wide and deep insights into
the Word and the ways of God. It is spiritually practical as well
as nutritional. As you read, ponder and digest, your inner life
will be nourished with the best "food" you can eat.
Reverend David Holdaway

E-Book Download ...............
Buy a copy of either “Multiplying Marketplace Miracles” and/or

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244 | P a g e
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Share your Testimony and Takeaway
Doris Ng
[email protected] | [email protected]
Tel: 6833 8433
Websites: dnafinancialcareers.com |
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246 | P a g e
Have you ever thought how great it would be to have a

financial planner at your side to help with financial matters?
Certified Financial Planner and Senior Director Doris Ng

has put together a 52-week articles to encourage and
provide biblical and practical insights on sound financial
management. It can be the first step towards financial
freedom and prosperity to those who read and practice the
principles. So, begin to trust God in your new journey
towards financial freedom, sound stewardship and
responsible money management.
Doris is a Certified Financial Planner and a Senior Director,

Financial Services. She recruits, coaches, trains and develops
Financial Planners and managers to be their best. She has
groomed Top Adviser, First Court of Table Adviser, a team
of professional Certified Financial Practitioners and
achieved Top in Productivity as a Director, Financial
Services. She is a Certified Professional Coach with
International Coach Academy, Certified Career Coach and
Certified Transformational Leadership Coach.

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Money

Copyright © 2015 by Doris Ng Siew Lian

All Scripture quotations, unless otherwise indicated

All rights reserved. No part of this publication may be

Every effort has been made to trace every quotation

The author will be pleased to rectify an omission in

GIVING AND SHARING ................................................ 71

I thanked God that 2 months before the market

You see, in my desperation to seek a solution to my

While many of my friends saw my “spiritual

In her fifth book, “Money – Biblical and Practical

Tay Tien Guan aka TG Tay

To God and my great friends who join me in my

Many thanks to the following persons and resources. I

 How to Manage Your Money (by late Larry

My special thanks go to TG Tay who had made time to

 Audrey Cheng for your editing, proofreading and

And to the many wonderful servants of God

Although money is an integral part of our lives, many

"No one can serve two masters. Either he will

What good will it be for a man if he gains the

But seek his kingdom, and these things will be

For the love of money is a root of all kinds of evil.

Then he said to them, "Watch out! Be on your

Jesus made money a key topic in His teachings. In His

Why a Book Like This?

I wrote this book because I discovered that many

 Covers many practical principles of managing your

Therefore, I cannot claim them as original and I am

You definitely have what it takes to reach your

• You may purchase in bulk for educational, business

• “Marketplace Manners” and “Soul Food for the

However, if you feel led to give, kindly channel all funds

• I am also offering a free 30 minutes Career Coaching

For enquiries, please call Doris @ 6833 8433.

Week 1 – Ten Biblical Principles of

The Bible has a lot to say about money. More than

Ten Biblical Principles of Money Management

Biblical Principle #1 – God Owns It All

Biblical Principle #2 – Commit God’s Portion First

Honour the LORD with your wealth, with the

Biblical Principle #3 – Control or Eliminate the

Better a little with the fear of the LORD than

Biblical Principle #4 – Learn to be Contented

He who loves pleasure will become poor;

Biblical Principle #5 – Set the Goals God has for

For I know the plans I have for you," declares the

Biblical Principle #6 – We are in a Growth Process

I will put you in charge of many things. Come

We are all growing to be more Christlike. Sometimes

Biblical Principle #7 – The Amount is Not

"The man with the two talents also came.

The principle for us is simple: the amount we have is

Biblical Principle #8 – Faith Requires Action

For everyone who has will be given more, and he