Ownership or Stewardship

The Choice is Yours

A Conversation with Arnold and Linda Thomas

A lot we learn about money comes from our parents or the environment we grew up in. My childhood was a little different than most you see. I was raised in a Christian foster home that was loving, but very business minded. My dad had his own home improvement business, and my mom had her own restaurant. That meant we had feast or famine. We either had enough meat for seconds, or not, but we were happy. I learned different ways to handle money in this environment.

For instance, my mother taught me first to tithe 10 percent and save 10 percent. Malachi 3:8-10 was quoted a lot around the house and the Pentecostal church we went to. She also showed me how to open my first savings account and balance my checkbook at the age of 12. But when I asked my dad about how to save for the future, he told me, “Son, if you make a dime, save a nickel.” I remember staring at him and waiting for him to complete his thought, but all he did was go back to going through the bills that were piled on the desk. I guess from his point of view, coming from the depression era, that made sense. And as far as investing went, my dad and mom did not understand the stock market. You must understand this was during the 70’s and the early 80’s before there were 401(k) and Roth IRA plans.  I would have to learn about those later in life.

When I was 18, I turned my back on my family and on my God. I wanted to be the captain of my own ship. I would go and work different types of warehouse jobs to serve my wants. For instance, as soon as I got off work, I’d go to the bookstore and read all I could on real estate; how to buy with no money down, etc. I’d go to every real estate seminar that came to town. As time went on, I accumulated five houses and a lot of debt and headaches. But I was still determined to make it work.

At 23, I got a job on the railroad and things began to look up. I was making more money and I owned many things, but I was still not satisfied. You see, with ownership, you’re looking for things or people to fill a void that only God can fill.

It took me until the age of 35 to finally fill that void by confessing my sin to Christ, asking the Lord Jesus Christ to forgive me of my sins and come into my life. From that time forward, it has been about stewardship. I joined a Bible believing church, Kansas City Baptist Temple, and it was there that I got discipled by Charles Harris, and most importantly, where I met my wife, Linda.

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In my (Linda) mind, ownership was having everything my heart desired and that it belonged to me! I had a lot to learn. My first--what I would call “real job,” was in the spring of 1977, when I got hired at Western Electric. For those who are too young to know, Western Electric, Ford Motor Company, General Motor, and Bendix were a few of the good-paying Fortune 100 companies in the Kansas City area. But, wouldn’t you know it, after 6 months I was laid off. My older sister told me that would probably happen, that I should not get in debt buying stuff, and that I should save for a car. From 1978 through 1983 I was rehired and laid off again, and then in 1983 found myself working for Bendix. I was “in the money!” so I thought, but actually the money was in me. Or I should say, “the love of money” was in me. I had it all: a good job, my own apartment, a new car, clothes, etc. This went on until May 21, 1989.

Life was so empty for me. I had started watching Pastor Charles Stanley’s ``In Touch” ministry on television. I had been asking God how I could know him, and he gave me the answer in a sermon titled “What Really Happened at the Cross.” In that sermon, it was explained to me why Jesus Christ came to this earth, why he was crucified on the cross, why he was buried, and why he rose from the grave on the third day. The simple message of the gospel.

I Corinthians 15:1-4 - [1]Moreover, brethren, I declare unto you the gospel which I preached unto you, which also ye have received, and wherein ye stand; [2] By which also ye are saved, if ye keep in memory what I preached unto you, unless ye have believed in vain. [3] For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures; [4] And that he was buried, and that he rose again the third day according to the scriptures.

I realized I was a sinner, and my sin nature (and all the sins I had committed) had separated me from a loving God. At the end of the service, I got on my knees and asked Jesus Christ to come into my heart and save me! Five months later I found myself at the Kansas City Baptist Temple being baptized, and then discipled by Deb Molder.

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On November 9th, 1996, we were married. This began for both of us our choice of stewardship or ownership. When you say “I do,” you become one in the eyes of God, and that includes your finances. Financially we joined as one, $61,000 in credit card debt ($6,000 was Linda’s), $250,000 in home loans (remember, I was going to be the next real estate mogul), and a $10,000 pledge to give to missions (a vow I had pledged to God and told Linda the day all the bills started to arrive in the mail)!

Was it hard getting out of debt? It sure was! But one thing we agreed upon in our marriage was being obedient to God when it came to stewardship. We knew that everything belonged to God, and we were commanded to tithe and give sacrificially to God. We planned to be debt free in 5 years but were debt free in just 4! During those 4 years, we not only tithed, but gave 15 percent of the salaries we made to God in tithes, offerings, and sacrificial giving. We were faithful to God and kept the goal of being debt free before us! We followed principles from the Bible, Larry Burkett, and the “Baby Steps” process from The Total Money Makeover by Dave Ramsey [DR], to being debt free.

Here are the financial principles we lived by then and continue to live by today:

We always pray:

2 Corinthians 9:7 - Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver.

Putting God first is essential, especially in your finances. It shows where your heart is.

Matthew 6:21 - For where your treasure is, there will your heart be also.

The first entry of the month in our checkbook is to God:

At the beginning of our marriage, we decided to put God first in our finances. This allowed us to be protected from making unwise purchases. Our first check of the month goes to tithes, offerings, and sacrificial giving.

Malachi 3:10 - Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the LORD of hosts, if I will not open you the windows of heaven, and pour you out a blessing, that there shall not be room enough to receive it.

Identify the saver and the spender:

I am the saver, and Linda is the spender. What keeps our budget in line goes back to obedience to God. Both Linda and I have input on the budget, and before we spend outside the budget, we both pray about it and agree on what to do.

Amos 3:3 - Can two walk together, except they be agreed?

Live on a budget:

If possible, always live below your means. We were able to see the difference between a need and a want. A need is a necessity for everyday living: food, clothing, and shelter. A want isn’t a necessity for everyday living, like shopping at Whole Foods when you can only afford Aldi, buying from Nordstrom’s when you can only afford Walmart, or living in a $500,000 house when you make $50,000 a year. Be faithful to your budget. It will keep you out of financial trouble! Obedience to the word of God must be exercised in your budget.

Tip: Cook at home and have family time around the kitchen table. Have the kiddo’s plan and cook meals while you instruct them. Show them how to set the table and clean up the entire kitchen after the meal.

Have an emergency fund [DR]:

Have a $1,000.00 rainy day fund for emergencies, because in life, you will be financially rained on!

Pay off all debts (except the mortgage) [DR]:

Pay off the smallest debt first. By doing this, that debt will be gone. Then put the first debts’ payment on the second smallest debt, and when you have saved enough money, pay off the second debt, and so on.

Have about 3 to 6 months’ worth of expenses saved in case of a big emergency [DR]:

This keeps you from using your credit card, taking out a loan, or taking equity out of your home.

Tip: Yes, it can be done! We save to buy our vehicles. You might have to drive that “bucket” for a few years until you’ve saved enough to move up to a more dependable vehicle. After you purchase that vehicle, continue to save for your next vehicle in your “car fund.”

Fund your 401k and Roth IRA’s [DR]:

During your working years, invest in your companies 401k and Roth IRA plans.

Save for your children’s college fund [DR]:

Have a 529 plan, or an ESA (Education Savings Account). We would add that savings for your son or daughter should be eligible to cover a trade school, as well, e.g., electrician, plumber, mechanic, welder, or carpenter. (Remember: Jesus was a carpenter!)

Pay off your mortgage [DR]:

When planning for retirement, have the goal in mind to pay off your mortgage before you retire. Not having a mortgage payment gives you more of your retirement income during your retirement years. Remember, you will be living on way less than what you made when you were working. The average retiree only has personal savings and social security to live on. If they have saved in a 401k or IRA, there may be taxes paid on withdrawals.

Build wealth [DR]:

Once you’ve accomplished these goals, you're free to build wealth. Building wealth allows you the freedom to invest in other return on investment vehicles, and to give money to missions and other worthy causes, as God directs you.

“You can’t take it with you, but you can send it on.” - Randy Alcorn

And be content with what you have:

1 Timothy 6:6-11 – [6] But godliness with contentment is great gain. [7] For we brought nothing into this world, and it is certain we can carry nothing out. [8] And having food and raiment let us be therewith content. [9] But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. [10] For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. [11] But thou, O man of God, flee these things; and follow after righteousness, godliness, faith, love, patience, meekness.

Arnold and his wife Linda are members of Life Fellowship and lead the Hospitality ministry at Midtown Baptist Temple. They've been married for 26 years and God has blessed them with spiritual children and grandchildren through the Discipleship ministry. They are involved in financial and premarital counseling.

LIFE|Line is a ministry of Life Fellowship, a fellowship of Midtown Baptist Temple.