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Managing Gods Money Review

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Thanks, Matt. Your book is in the mail today.

I wanted to send you a few more details on the book review and giveaway.

If you need some inspiration, here are some basic questions to get you started on your review:

  • What did you like about Managing God’s Money and why?
  • What did you learn?
  • What was most impactful to you?
  • How do you think the book would be helpful to your readers?

We would like to ask that you post your review on your blog within one month after receiving the book in the mail.  Please send me an email as soon as you know when your blog post will be up. If I haven’t heard from you within a month after sending the book, I will follow up to see when you plan to post the review.

To comply with new regulations introduced by the Federal Trade Commission, please include this information at the bottom of your review: Eternal Perspective Ministries provided me with a complimentary copy of this book to review.

I’ve attached an image of the book to include with your post, along with this paragraph:

Managing God’s Money is available from your local Christian bookstore and from online retailers, as well as from Eternal Perspective Ministries (www.epm.org), a nonprofit ministry founded by author Randy Alcorn.

I’ve also attached a Q&A with Randy on the book. You are welcome to include any or all of it with your post if you like.

You may have your own way of conducting a giveaway on your blog, and that is fine. But here is some sample wording as a guideline:

Eternal Perspective Ministries is also giving away copies of Managing God’s Money to three readers! To enter the giveaway, simply leave a comment on this post by (date one week after the post goes up). Please only enter once and leave a valid email address and do not enter for family and friends. The winners will be randomly selected on (date the day after the giveaway closes) and notified by the email left in the comments. Winners must respond within 48 hours of notification or we will select another winner.

EPM would ask that you handle the details of randomly selecting and contacting the winners by email for their mailing addresses. For giveaways on our own site, I use a random number generator (www.random.org/integers/) to generate three random numbers and select the winners. Once you’ve contacted the winners and have their mailing addresses, you can then pass on the names and addresses to me, and we will ship the books out.

Finally, we would ask that you also post your review on Christianbook.com and Amazon. With your review, include the line: Eternal Perspective Ministries provided me with a complimentary copy of this book to review. We will also be posting your review on our website, www.epm.org.

Please do let me know if you have any questions at all. Thank you again for your partnership!

With blessing,

Stephanie Anderson  l  Promotions Director

5 Essential Business Principles from the Bible

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5 Essential Business Principles From The BibleThe Bible is full of advice on how to handle money. Every business owner can (and should) build their business on these essential principles straight from the Word of God. As you read through these Bible verses and associated principles, ask yourself where you see room for improvement in your own business dealings.

1. Conduct your business with humility.

Be realistic about your human nature. Everyone makes mistakes, and I’d venture to guess you’ve made a few. Humility causes us to listen to our customers, to hear their concerns, and to address their problems. Having a large ego won’t get you anywhere and can cause your business to stumble.

Pride goes before destruction, a haughty spirit before a fall. – Proverbs 16:18 NIV

Does someone not like your product? Give them a refund. Show your customers that you want to make sure they’re getting value for their dollars. In several of my eBooks, I suggest that if the buyer dislikes the book that they send me an email requesting a refund. I want my work to be worth the cost. Don’t you?

2. Be diligent and avoid laziness.

If your job is draining you of your energy, and you can’t seem to work as you should, it might be time to change jobs. Find work that you can be passionate about. But in whatever you’re doing, be diligent. Laziness won’t bring in the money – customers pay for results.

Lazy hands make for poverty, but diligent hands bring wealth. – Proverbs 10:4 NIV

Some practical ways to boost your energy include getting adequate rest to avoid exhaustion, exercising regularly, and eating foods as close to their natural, God-intended state as possible.

3. Be fair and don’t cheat in your business dealings.

Do not have two differing weights in your bag—one heavy, one light. – Deuteronomy 25:13 NIV

Standardized weights and measures were used in Biblical times to conduct business transactions. The Bible here is speaking out against cheating others in business dealings. Both parties – the buyer and the seller – should “be on the same page” regarding a transaction, each understanding exactly what they are to receive as a result of the deal. Selling a product or service? Thoroughly describe what it is that you’re selling. It’s also a good idea to “test” your description by having potential customers ask questions about the product or service before selling it to them. The less questions they have, the better job you’ve done at describing what it is you’re selling.

4. Gather little by little.

Television likes to tell the stories of people who encounter windfalls of cash: business ventures that are overnight successes, lottery tickets that bring in millions, and attic-retrieved antiques worth a decade’s worth of wages. These sudden windfalls probably won’t happen to you – the odds are very much against you. Instead, the Bible teaches to gather money little by little.

Dishonest money dwindles away, but whoever gathers money little by little makes it grow. – Proverbs 13:11 NIV

There are honest circumstances under which one might earn a windfall, but the Bible tells us that our focus should be on earning money little by little.

5. Don’t be timid.

Be humble and bold at the same time. The Holy Spirit can give you power to run your business and self-discipline to manage your time.

For the Spirit God gave us does not make us timid, but gives us power, love and self-discipline. – 2nd Timothy 1:7 NIV

What is it that you’d love to do? In what areas of your business do you need more boldness? If you’re looking to improve your business and your life, make sure you stay rooted in the Word of God. The Bible has much more to say to those looking for help. Take these verses to heart, and seek the Lord. And if you only remember one piece of advice from this article, remember this:

So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. – Matthew 7:12 NIV

What are some other Biblical business principles that you think should be practiced?

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Bob is the founder of Christian Personal Finance, a website helping people make more, save more, and give more away.

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Lending Club Review

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At a time when investors are making record low interest rates of little more than 1-2%, there is an opportunity to earn much higher returns through peer-to-peer investing with Lending Club.

And for would-be borrowers, the news is almost as good. They can borrow money from Lending Club investors at rates generally below those offered by credit cards. They can do so without putting up collateral and without all the red tape that comes along with borrowing from a bank.

Note: A few years back Matt used Lending Club to consolidate his debt and has been investing with them ever since paying off that loan. Over the last three years he has averaged an interest rate of over 10% on his investments with Lending Club. (Read more about Matt’s first hand experience with Lending Club.)

What is Lending Club

Lending Club Review

Lending Club is a “peer-to-peer” lending company, matching borrowers directly with lenders.

The model removes banks from the process, enabling the borrower to pay a lower interest rate, and the investor to earn a higher rate of return. The company is the first peer-to-peer lending organization to be registered with the Securities Exchange Commission.

The company began operations in 2007 and has originated over $1 billion in loans.

According the company’s website, the latest statistics–as of November 23, 2012–include:

  • Loans funded to date: $1,348,306,700
  • Interest paid to investors since inception: $114,375,168

77.32% of Lending Club borrowers report using their loans to consolidate debt or pay off their credit cards. Can I get an Amen?

How does Lending Club work

Both investors and borrowers can go to the Lending Club website (borrowers click here | investors click here), sign up and investigate the loan programs available, including loan requirements and grades, interest rates, terms and any other factors connected with the transaction.

Loans sizes range from $1,000 to $35,000 (the maximum loan amount), and are unsecured, personal loans. If a borrower is determined to be credit worthy, Lending Club assigns them a credit grade that determines the interest rate charged. Credit grades are determined by the borrower’s credit characteristics, including credit history and credit scores, loan amount and debt-to-income ratios.

Loan (or note) listings are provided on the Lending Club website that reveal the loan grade, loan amount, and loan purpose. Investors can choose loans to invest in from the listings, deciding, for example, what loan grades and interest rate terms they deem acceptable – then they can save the filters and use them later to find and fund more notes.

How investors benefit from Lending Club

According to the site, Lending Club has over 45,000 investors who have funded more than $1 billion in loans. And they have collected over $114 million in interest payments.

Lending Club Notes ($20,000 denominations) have a net annualized return that is determined by loan grade. For an A note, the net annualized return is 5.66%, ranging up to a G note with a return of 12.07%. The nominal average interest rate is 14.21%, with an average default rate 4%, and an average net annualized return of 9.64% (Matt is currently earning at 10.23%).

Lending Club itself makes money by charging a service fee to investors and a loan origination fee to borrowers, similar to points charged by a mortgage lender.

Investors start by opening a account with Lending Club and depositing their money. They then choose the loans they want, based on the expected rate of return on investment and the level of risk they’re comfortable with. Higher rate loans also carry higher risk, while lower risk loans offer lower interest rates.

Click here to learn more about investing with Lending Club and to open an account.

How Borrowers benefit from Lending Club

Borrowers can borrow money through Lending Club for less than they’ll pay for most other loans. Since there’s no “middle man” in the Lending Club process, they can see a loan approval in less time and with much less documentation. Borrowers can get debt consolidation loans to pay off credit cards charging, say, 15% with a loan from Lending Club carrying a rate well under 10%.

Which is exactly what Matt did. He consolidated three credit cards and an auto loan, then paid it off in seven months.

Lending Club isn’t a “no other way” lender, and there are some stipulations that keep loans primarily to higher quality borrowers. According to the website, fewer than 10% of loan applications are approved. The credit standards are pretty stiff, with a minimum credit score of 660.

This is because Lending Club likes to deal with borrowers who are going to pay off the loans. Makes sense right?

Some statistics on the profile of the average borrower from the site:

  • 715 FICO score
  • 14.98% debt-to-income ratio (excluding mortgage)
  • 15.21 years of credit history
  • 68,831 personal income (top 10% of US population)
  • Average Loan Size: $12,159

Even with the high credit standards required by the program, Lending Club offers tangible advantages for borrowers who do qualify.

As mentioned above, 77.32% of Lending Club borrowers report using their loans to consolidate debt or pay off their credit cards. How cool is that?

Click here to learn more about borrowing with Lending Club and to open an account.

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