Musings on news I've heard lately...

First, I heard on the business news today that Delta Airlines announced a loss of $6 billion for the first-quarter. Then, I heard in the same report that Northwest Airlines announced a loss of $4 billion for the same period. Wow, two airlines looking at merging having a combined first-quarter loss of $10 billion! Just makes me wonder about their desire to merge into one airline, which, in my simple mind would only benefit the two companies and a handful of employees. But would not necessarily benefit airline passengers or the rank and file Delta and NWA employees. Hard not to scratch your head about that one.

Second, I had to laugh as Deutsche Bank in Germany announced a ground-breaking HR policy change. They advised company executives they could no longer use company credit cards at brothels or strip clubs, even if it were to entertain clients. Now there's some prudent belt-tightening going on!!

Finally, as many people in the US (& the world) struggle financially and food shortages create problems, it's sobering to think that much of today's financial challenges have been created as much by individual choices as external events and circumstances. Many of us may be making difficult lifestyle choices now when we could have made prudent, sensible decisions in the past that would have kept our financial heads above water during this difficult time. Guess I'm just a bit discouraged today and having a 'glass-half-empty' kind of day.

What's your potential?

"Our potential is not limited to what we can own or how much we make. "
- Ross Levin, author The Wealth Managment Index

I always love it when I see articles on core issues related to generosity that show up in everyday news media. Ross Levin is a CFP who writes a column in the Minneapolis Star Tribune. A couple weeks ago his column was titled, "Sometimes, as you acquire, you lose". While his advice is focussed on financial planning, the main theme of his article was to invest wisely (which applies to whatever you're blessed with) and to think about your goals.

He told a story of several years ago, giving his two younger daughters $5 for allowance. He says, "Within minutes of receiving the money, they spotted a homeless person sleeping on the street. They were determined to give the most money that they'd ever held in their hands (maybe $5) to this somnolent vagrant who could not say thank you. We resisted any impulses to dissuade them. "

Levin goes to say that today, seven years later, they still remember giving the money to the homeless person and the joy they received from their selfless act. The article goes into further detail of asking us what's important to us and how that affects or happiness.

So what's important to you as you strive to be your best? Is it having, acquring and keeping up with the Joneses? And do you have any margins in your life just to be, to give and to be selfless...which oftentimes brings the most happiness and fulfillment in our lives? As Rick Warren says in his book, Purpose Driven Life: "It's not about you."

Take time to find your purpose. Which, by the way, usually starts with God...and involves being 'other-focussed' and not 'self-focussed'. Find your purpose and make this world a better place. And yes, that may mean giving some or most of yourself away!

Live beneath your means

"Well, what you're supposed to do is the thing we talk about all the time, which is live beneath your means."

That's a quote from Allan Sloan, senior editor-at-large for Fortune magazine, in an interview on Marketplace on NPR this past Monday. He was talking about all the changes that US Treasury Secretary Henry Paulson is proposing in overhauling the regulatory structure of the Federal Reserve. All in reaction to the country's recent economic woes, brought on primarily by the subprime mortgage debacle. Sloan refers to it as the "New Great Depression" - whoa, that'll get your attention pretty fast! He also says, "There are certain eerie similarities between what's happening now and what happened in 1929."

It's interesting, if you talk with people who are old enought to remember the Great Depression. In general, they're mainly pretty good about organizing & using their finances & stuff in a responsible way. All shaped by their memories of what actually happened.

Wouldn't it be cool if we all tried to live beneath our means & be content with what we have? Besides, none of this stuff is ours anyways. And, all our financial decisions are really spiritual decisions anyway. Plus, as we live beneath our means and share first (10%), then save (10%) & then spend the remainder (80%), that usually puts us in a financial situation where we have no consumer debt & have considerably less anxiety about money than most people in this country.

Go ahead, I dare you. Try spending less than you make on a regular basis. It can feel pretty weird at first but pays off in the long-term. Trust me, it does work!

Holiday Regrets Survey

My friend Matt Bell, (check out his website http://www.moneypurposejoy.com/), recently published results of a nationwide survey of 1,000 adults that showed results from two main questions about Christmas time 2007:

1. In response to the question, "Thinking back on this past holiday season what did you wish you'd done more of?"

• Spent time with family and friends. 54%
• Spent time reflecting on the religious/spiritual significance of the holiday season. 40%
• Gave money to charity during the holiday season. 31%

2. In response to the question, "Thinking back on this past holiday season, do you wish you had done less of?"

• Spent money on gifts. 30%
• Spent time shopping for gifts in stores. 28%
• Spent money on myself while holiday shopping. 23%

So, in general, many of us desire to focus on the true meaning of Christmas but simply are unable to do what we really would like to, for whatever reason. (hmmm...the pull of the culture perhaps?)

And, along with the regret people may have, comes a significant amount of consumer debt from spending money on gifts and spending money on themselves while holiday shopping! Doesn't seem right does it?

Giving makes you happy...I'm not kidding!

So what would you rather try:

a) spending your way to happiness & greater fulfillment in life?
or
b) giving your way to happiness & greater fulfillment in life?

If you said b), you're correct, at least according to a recent study.

Highligted in this article in Forbes magazine, http://www.forbes.com/home/technology/2008/03/20/money-buys-love-tech-science-cx_ec_0320love.html researchers showed we really get more enjoyment and satisfaction from giving money away rather than spending it. Hey, that's an encouragement for many people (like me) who want to grow in this whole area of generosity. It's great to see some scientific data that proves giving makes you happier than spending! And from Forbes magazine, of all places.

And, if we use the Bible as a guide to live our lives, this secular study reinforces the truth that it's more (fun) blessed to give than to receive. As my daughter would say, "sweet"!

Do you feel rich?

Part of our problem with understanding generosity is appreciating our wealth in terms of the world. Most of us here in the US don't think we are. But we are. Even with a household income of $50,000 a year that would put you in the top .98% richest person in the world. The average household income in the Twin Cities is $70,000 which would make put you in the top .85% richest person in the world. Or how about this: Three billion people in this world live on less than $2 per day while 1.3 billion get by on less than $1 per day. Seventy percent of those living on less than $1 per day are women. Just something to think about. If you're interested, the website to determine where your household income ranks you in the world is, www.globalrichlist.com Also, for those of us who are Christians, Jesus said our wealth will make it that much harder to live in God's Kingdom. "How hard it is for the rich to enter the kingdom of God!" - Mark 10:23

Christmas time is upon us...

We miss the joy and peace of Christmas as the flood of shopping and frantic activity overtakes us. Consumerism and materialism win the day for most of us, and this time of year gets filled with a hyper-busyness unmatched by any other time of year. What happened to doing more resting than doing during late November and December? What happened to spontaneous time with friends and family this time of year, as contrasted with the bulging calendars that allow absolutely no time for any of us simply to be and think deeply about the meaning of the season. And on top of that, spending goes largely unchecked, with many of us never stopping to think of those VISA, Mastercard, Discover or store credit card bills we'll get in January and February and March... Charging Christmas gifts, the real gift that keeps giving and giving and giving, well into the new year. Try something new this Christmas and give someone a gift from Heifer International http://www.heifer.org/site/c.edJRKQNiFiG/b.204586/or Compassion International http://www.compassion.com/default.htm or the ELCA Gift Catalog http://elca.org/scriptlib/DS/Giving/express.html We all don't really NEED anything this Christmas, it's just stuff we want because, well, we've been taught to want stuff ever since we were little. It's been wired into us and it's hard to let us go. So, for the person who has everything, give them a gift that will benefit others. And for your Christmas list, ask for gift-givers to make a contribution that will make a world of difference. I think it fits more of the reason we celebrate the season after all. Peace.