Using Mint.com As An Excellent Financial Dashboard To Think And Act Like The Wealthy

Mint.comI’m A New Fan Of Mint.com

Several years ago, I heard about Mint.com but never really took the time to dig deep and discover what this website was all about.

So, why didn’t I?

Like many financial websites, I assumed it wasn’t really going to change much of my current financial process of budgeting, saving, investing, and debt-free living. For many years now, I have been disciplined in my finances, so I wasn’t seeing the need to throw one more layer of personal finance tracking into my current process.

But a few months ago, through the encouragement of some friends of mine, I decided to give Mint.com another look.

Now I get it.

I’m not sure why I didn’t understand the beauty of this site five years ago. Because we now live in the age of electronic banking, we all have website accounts that need to be monitored. These websites include multiple bank checking and saving accounts, investment accounts, credit card accounts, and perhaps other loan accounts such as student loans.

So, once I actually took some time and plugged all my electronic accounts into Mint.com, I began to see the beauty of the website. Mint.com became my own personal finance dashboard. Instead of visiting all of my accounts individually, I could have a snapshot of my family’s financial health in one convenient website.

As I was reviewing my financial dashboard the other day, I had this thought:

Used correctly, an account on Mint.com can help people to focus on three important principles of the wealthy.

3 Important Principles Of The Wealthy

Source Note: These three principles were taken from Rich vs. Poor People Principles by Harv T. Ekker.

  1. Rich people play the money game to win. Poor people play the money game to not lose. With the way the financial dashboard is set-up on Mint.com, it has a quasi-game feeling to it. And, if you are the competitive type, I can see the dashboard having a unique way to encourage you to pay off debt, save, and invest.
  2. Rich people focus on their net worth. Poor people focus on their working income. Due to the nature of this financial dashboard, you have a clear picture of your net worth. Mint.com automatically adds up all your assets and subtracts your liabilities, leaving you with your net worth at the end. Mint does a great job with this wealth principle. I’ve enjoyed watching my net worth grow each month. Thumbs way up!
  3. Rich people manage their money well. Poor people mismanage their money well. At the end of the day, Mint.com is a great tool to manage your personal finances well. Now, you still have to put work into your personal finance management. Mint doesn’t do this management for you automatically, but this website sure can help you become a better money manager.

I realize that not everybody out there is as detailed and compulsive as I am regarding stewardship and personal finances. I am always on the lookout for new ideas and great tools to give me an even greater edge in this area of life. Mint.com is one of those tools to give you an advantage in living out the principles of the wealthy.

Questions: Do you use Mint.com in your personal finances? Why or why not? If you do use this service, do you agree with my assessment of the manner in which it helps you focus on these three wealth principles? Why or why not?






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How To Enjoy Life And Make A Greater Contribution In The Lives Of Others

Photo by John Catbagan

Photo by John Catbagan

The Starfish Story

This story has been around for some time. Perhaps you’ve heard it before? In any case, I believe this story sets up this post well.

Strolling along the edge of the sea, a man catches sight of a young woman who appears to be engaged in a ritual dance. She stoops down, then straightens to her full height, casting her arm out in an arc. Drawing closer, he sees that the beach around her is littered with starfish, and she is throwing them one by one into the sea. He lightly mocks her: “There are stranded starfish as far as the eye can see, for miles up the beach. What difference can saving a few of them possibly make?” Smiling, she bends down and once more tosses a starfish out over the water, saying serenely, “It certainly makes a difference to this one.”

The Impact Of A Book

Have you ever read a book, seen a TV interview, or perhaps watched an online video that causes you to have one of those “AHA” moments? You know, when a light bulb goes off in your mind and you feel like a major shift in your thinking has taken place?

This happened for me about 7-8 months ago, when I watched a Youtube video of an orchestra conductor named Ben Zander and then read his book “The Art of Possibility.” You can read my book review on “The Art of Possibility” here.

In several chapters of his book, Ben discusses some of his challenges of being a conductor of a volunteer orchestra. As I continued to read through the book, I kept having these “Aha” moments of realization and learning.

For a large portion of his life, Ben Zander struggled with the drive to be to be successful as well as a fear of failure. He claims that this struggle caused both himself and those around him considerable suffering. The greater his success as an orchestra conductor, the worse this tension became in his life.

The tipping point for Ben came when his second wife walked away from their marriage. He began re-thinking how he was “doing life.”

He came away with the realization that he was living a life of selfishness. He was more inward focused on his own success. When being inward focused, he had more of an attitude that there was always another orchestra – aside from the one he was currently conducting – that he suspected would bring him more success, and so he was never fully present when he was on the conductor’s podium.

When he began playing the game of contribution, on the other hand, he found there was no better orchestra than the one I was conducting, no better person to be with than the one he was with; in fact, there was no “better.” In the game of contribution you wake up each day and bask in the notion that you can be a contribution to the lives of others.

A Shift Takes Place In My Thinking

This personally hit home with me about my own relationships within my family, as well as the volunteer orchestra I direct each week. I started asking myself questions about whether I was more interested in achieving success in my family or ministry, or am I truly more interested in living a life of contribution. This subtle but important shift in my mindset has (I believe) created a more enjoyable experience for those that I love and lead.

For example with the orchestra at church, in the past, I would get frustrated or upset with various problems such as excessive absenteeism for orchestra rehearsals on Wednesday nights as well as worship services on Sundays. My mindset before was too focused on having a successful orchestra and the roadblocks (in my mind) that my volunteer members were causing me to be a successful director.

Once I made this shift in my thinking, though, I started focusing on the orchestra members who decided to be present for a particular Wednesday rehearsal or Sunday worship service. I began realizing I could and should be a contribution in their lives spiritually, musically, and personally.

And you know what has happened? I’m enjoying my life and ministry a whole lot more by living a life focused on contribution rather than success versus failure. And, I hope those around me are enjoying life at a deeper level as well.

The Generous Life

Playing the game of contribution should really be of no surprise to those of us who are believers in Christ. The Bible has much to say about living a life of generosity versus selfishness.

In Proverbs 11:24-25 (MSG) we read these words:

The world of the generous gets larger and larger;
the world of the stingy gets smaller and smaller.

The one who blesses others is abundantly blessed;
those who help others are helped.

Throw yourself into life as someone who makes a difference, accepting that you may not understand how or why. Just like our starfish story at the beginning, don’t get overwhelmed and give up because you can’t help everyone. Focus on being a contribution to the few that you can be.

Questions: Are you living a tension-filled life based on a drive for success and a fear of failure? Is your life enjoyable or full misery? Do you need to consider a shift in mindset from success versus failure over to contribution?






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Does The Bible Really Contain A Secret Money Code?

Photo by Susan Kambalu

Photo by Susan Kambalu

Sean Hyman And The Biblical Money Code

His advertisements are everywhere!

Over the last few months, it seems like anytime I have my local talk radio station on, Fox News, or simply browsing the web, I keep running into advertisements for Sean Hyman’s Biblical Money Code.

A few weeks ago, I was curious enough to just go ahead and purchase the lowest subscription possible to check out what all the hype is on this Biblical Money Code book is all about.

Buying The Biblical Money Code book is really more of an opportunity for you to end up on an email subscription to the Ultimate Wealth Report plus NewsMax.com. Of course, this is the new normal in today’s digital marketing age, so now I am blessed with at least two to three extra emails cluttering up my inbox each day!

But, you do also receive several ebooks and other pieces of financial information for your purchase. It’s not a complete “bait and switch.”

Who Is Sean Hyman?

Sean Hyman is a former pastor who has allegedly moved from making $15,000 a year to now giving away up to $50,000 a year. He didn’t make this kind of money in church work, however! Here’s a portion of Sean’s bio regarding his financial work:

Sean Hyman has become a trusted correspondent on CNBC, Fox Business and Bloomberg due to his extensive background in the financial markets, having spent more than 20 years in the investing trenches. Over that time, he’s been a stockbroker at Charles Schwab, a trading course instructor for foreign exchange market maker Forex Capital Markets (FXCM), a financial writer for numerous outlets, and a key speaker at conferences both nationally and internationally. Over the course of his career Hyman has also held five financial licenses …

… Sean Hyman became the editor of the Ultimate Wealth Report newsletter because he loves teaching and helping others to have a better life than what they’d had before. His goal with the Ultimate Wealth Report is “to shepherd readers in the right direction so their wealth doesn’t get eaten away by inflation, but rather benefits from the rise of inflation.”

A Fast Overview Of The Six Keys

The primary ebook focused on the Biblical Money Code that you receive as part of your subscription is called The Six Keys To Financial Success. Like many ebooks you receive online, it’s a brief 47 pages and a quick read.

In the ebook’s introduction, Sean makes the case that in order for God to bless us financially, we need to follow all the financial wisdom in Scripture. In order to unlock the full potential of the Biblical Money Code in our lives, we must be fully obedient to all God’s wisdom, not just part. That won’t work.

Sean states that most people only follow some or part of the Biblical financial wisdom found in Scripture. Perhaps, they may tithe on a regular basis, but the rest of their financial life is a complete mess. Or, maybe they live a debt free lifestyle, but don’t tithe.

Sean drives home the point that a believer living in full obedience to each financial principle unlocks the full and complete blessing of God in the area of personal finances.

Here are the six Biblical financial principles that Sean focuses on:

  • Principle #1: Pray for God’s Favor and Blessing In Your Work.
  • Principle #2: Tithes and Offerings: 10% Plus Some, Not Just 10%.
  • Principle #3: Save Money and Reduce Your Debts
  • Principle #4: Invest for Your Future
  • Principle #5: Philanthropy
  • Principle #6: Being the Lender and Not the Borrower

My Take On The The Six Keys To Financial Success

I am of the personal opinion based on my own research PLUS personal experience that there is a “Biblical Money Code.” Is it some kind of big secret or something? No, of course not. But, the Bible does give us A LOT of common sense wisdom when it comes to handling money.

I do believe that God blesses complete obedience to His Word and His will. I also believe in the power of the Law of the Harvest. When you do the right things in the right order and in the right way, you will reap a bountiful harvest.

This is so very true in this area of personal finances. If you follow Biblical financial wisdom in every area (giving, saving, spending, debt, and investing), then God will bless you. You will reap what you have sown.

BUT, I would be hard pressed to say that this will happen every time for every person in every situation, though.

God is God, and He does not always conform to the box that we place Him in. He may allow negative financial circumstances into our lives, even if we may be following this “Biblical Money Code.”

Why would God allow this to happen, though, if we’re playing by these Biblical money rules?

It’s always difficult to pinpoint a definitive answer. We may never know this side of heaven. Perhaps God is teaching us an important spiritual lesson. Maybe He wants us to learn to rely on Him, rather than money. Or, maybe, He wants us to learn a lesson in controlling our emotions and growing in the virtue of patience.

I believe the key is remaining open to growth in your life when your expectations aren’t met, even when you are doing all the right things. But, don’t give up, though. Keep on doing all the right things in spite of the circumstances. There will be a tremendous payoff, eventually. Remain obedient, teachable, and press through to the end!

Questions: Do you believe in a Biblical Money Code? Why or why not? Have you experienced the Law of the Harvest in your personal finances from following these principles?






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