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How To Responsibly Pay Others Back

January 15, 2013 by

paying backWe’ve all done it before.   At some point or another, we’ve had to borrow money from someone. Whether it was a forgotten wallet and a spotted $10 or a more serious situation, it isn’t always the best feeling to have to ask a friend if they can spare a few bucks. However, we all need help every once in a while, and there’s no shame in asking if you’re responsible in how you pay them back. Check out the tips below for ways to pay others back respectfully and maintain your relationship with them in the process.

Be timely.

Did you borrow $20 from a friend when a restaurant only accepted cash? Go out of your way to withdraw $20 from the closest ATM, write them a check, or make an electronic funds transfer as soon as you can.   Did you have to borrow a large sum of money from your parents during an emergency?   As soon as you’re able, sit down and take a look at your finances.   What can you afford as the first payment and when can you give it to them?   Do you owe someone, but you’ve forgotten the money the last couple times you saw them?   Rather than not mentioning it, make it a point to say you still remember and that you will get the money to them as soon as possible.   Showing that you want to pay someone back as quickly as you can instills confidence that no one is going to go unpaid.

Make a plan.

In most situations, the best way to pay someone back is by making a plan.   You may find it helpful to make a payment schedule if you do owe larger sums of money.   Perhaps you can take a little from each paycheck without depriving yourself of your basic needs.   Maybe you can sacrifice going out to eat with friends every weekend until you’ve paid your debt.   Look at your income versus your necessary expenses and see where you might be able to temporarily cut back.   Whatever you work out, be sure to communicate that with the person who lent you the money to let them know you’re getting back on track.

Write it down.

When you’ve committed to a payment schedule that you’ve thought out and written down, you’re more likely to stick to it.   Put your payment due dates on your calendar or set up a reminder in your smart phone. If you go the paper route, post it in your office or on your fridge. You can even give a copy to the person you’ll be paying.   For some people this may be overkill, but for others it lays everything out on the table so there are no questions left unanswered.

Don’t feel bad.

Like I said before, we’ve all been there at some point in our lives.   So, don’t let your guilt keep you from asking for assistance if you truly need it.   Likewise, don’t allow your guilt to keep you up at night if you can’t repay someone as quickly as you want.   Be open and honest with them about your situation.   They’re likely to understand if they were willing to spot you in the first place.

Occasionally, your quality time or willingness to help may be repayment enough or at least make a later payment acceptable.   Offer to help them move next weekend or watch the dog while they’re out of town as a gesture of good will.

Have you ever borrowed money from someone? How did you go about paying it back? Are you still friends with them to this day? I’d love to hear about it!

photo by 42Dreams

Filed Under: Debt Tagged With: , ,

Giving to Caesar what is Caesar’s is a Christian Duty

September 28, 2012 by

give to caesarMany verses in the Bible are misquoted, misinterpreted, or taken out of context or their contextual meaning. Some of the worse violations in this regard involve Jesus’ statements concerning money and finances.

Among the most misquoted is “Render unto Caesar what is Caesar’s.”

The quote is taken from a story that occurs in several Gospels, including Mark, specifically 12:13-18, as well as Luke. For clarity’s sake I will use Mark’s version to provide a quick summary.

In the story, Pharisees and Herodians are sent to speak to Jesus. The Pharisees were a traditional, conservative sect within Judaism at the time, and the Herodians most likely some sort of a political entity friendly to the family of Herod Antipater, who was tetrarch of Galilee at the time.

First, they flatter Jesus by calling him a man of integrity and pretending to be authentic and ingenuous about their concern for the law and following God. They then ask him whether they should pay taxes to Caesar or not.

Jesus immediately accuses them of hypocrisy and demands to see a denarius, which was a Roman coin. After they produce one, Jesus asks them whose inscription is on it. When they reply it is Caesar, Jesus answers, “Give to Caesar what is Caesar’s and give to God what is God’s.”

Mark writes “they were amazed at his answer.” In Luke’s Gospel, the men were “astonished by his answer, (and) they became silent.”

A ‘GOTCHA’ QUESTION

It is important to contextualize the situation.

At the time of this story, Jesus had entered Jerusalem for the Passover on a donkey during the triumphant entry, which is now called Palm Sunday. The large welcoming he receives made his enemies jealous, as well as concerned he would attempt to rebel against the Roman government and bring disaster down on them.

To get rid of him, the religious and political enemies of Jesus attempt to trap him in his own words – similar to a modern day political “gotcha!” question.

One important observation to make is the intent of the men who ask the question.

Luke’s account (20:20-26) describes them as spies who hope to catch Jesus in something he said to hand him over to the government.

Thus, the question they asked him was strictly to trap him in a no-win situation.

Had Jesus answered they were not required to pay taxes to Caesar, it would have qualified as preaching rebellion against the Roman government and would have been appropriate grounds to have him arrested by the authorities. In fact, during Jesus’ eventual trial, many of the Jewish chief priests would later falsely claim to Pontius Pilate Jesus had preached this.

On the other hand, had Jesus replied they should pay taxes to Caesar, the spies would have then used his answer to stir up a mob and have him stoned or killed. Roman rule over Palestine was extremely unpopular among many Jews during the time, which is why the region suffered from so many insurrections, rebellions and revolts. Many Jews believed it was wrong to pay taxes to a pagan government and despised many of their own people for working as tax collectors, like St. Matthew, who was a tax collector before Jesus called him. Some Jews also did not consider the Romans their legitimate rulers; thus, for Jesus to say they should pay taxes would, in their mind, giving the Roman rule legitimacy and indirectly condemning Jewish nationalism.

Also, Passover was one of the most important of Jewish religious holidays, which meant the people would already be in a highly religious and patriotic mood, making it easy to manipulate them.

QUESTION ACT OF REVENGE

Additionally, if one reads the previous section before this incident, one will discover the spies were using the exact same trick question Jesus had used against them.

In both Mark and Luke’s gospels, the chief priests and elders of the law challenge Jesus’s authority to teach and preach from the Torah, since he was not a trained rabbi, and demand to know where his authority comes from. Jesus replies he would answer the question if they first answer his: Where had John the Baptist’s authority come from, men or God?

Discussing it amongst themselves, they realize they can’t answer it either way; if they say John’s authority came from God, why hadn’t they accepted his teachings of repentance? If they say his authority came from men, i.e. he made it all up, they fear being stoned by the people, who firmly believed John had been a prophet.

Thus, they aren’t able to give an answer because they lack of the courage to stand by their convictions, a fault they know very well Jesus did not suffer from himself.

So the question of paying taxes to Caesar is an attempt at revenge for humiliating them, knowing he has the bravery to say what he believes regardless of how unpopular it is.

Jesus response showcases both his brilliant wit and his divine knowledge.

In Luke’s Gospel, he immediately confronts them for their deceit, calling them hypocrites, and asks them why they intend to trap him.

Right away, he using showing them he knows their hearts and hasn’t been fooled for an instant. He also points out their hypocrisy because he knows if they were asked the same question, they wouldn’t answer it. This puts them on the defensive.

It is also significant to note whom the spies were; one group, the Pharisees, were generally opposed to the Roman government and disliked paying taxes; the other group, the Herodians, supported or at the very least were open to the Romans and most likely supported the taxation. So no matter what answer he gave, he was guaranteed to offend one of the groups.

After having chastised them, Jesus then asks them to show him a denarius. When they do, he inquires whose face is on it. When they reply it is Caesar’s, Jesus answers their question: Give to Caesar what is Caesar’s and give to God what is God’s.

OMITTING THE SECOND PART OF THE ANSWER

Most people only know the first part of this quote; and even those who know the other half don’t understand what Jesus meant by it.

As I see it, the point Jesus was making is that a denarius bears the image of Caesar. Therefore, if Caesar issues a tax, it should be paid.

In other words, his answer is yes, the Jews should pay taxes to Caesar if required to.

But the other half of the answer is the most insightful. He says to them “Give to God what is God’s.”

When he says this, he is referring to mankind, which bears the image and likeness of God. Therefore, men should give what God demands of them as well. And God made it clear in the Old Testament they were to love him with all their heart, soul, and strength.

This is what makes Jesus’ answer so profound. In addition to saying the Jews should submit to the Roman government, Jesus is telling them that they should be as equally concerned, if not more concerned, about submitting to what God asks of them.

He is essentially putting God’s commandments above Caesar’s decrees and laws while simultaneously telling people to obey Caesar. He is effectively disarming any qualms the Herodians may have about his answer, while making it impossible for the Pharisees to accuse him of putting obedience to Rome above obedience to God. Additionally, he is chastising them for their obsession with money rather than spirituality.

The phrase “Render unto Caesar’s that which is Caesar’s” is often used in a very pro-statism and totalitarian manner. When used, it generally means whatever the government wants of its citizens it owns or is entitled to.

Those who use only the first part of the phrase miss the entire point Jesus made; our focus should not be so much on money and the government as it is on God. This was a direct attack on the Sadducees, Herodians and other chief priests who placed their allegiance to Rome – the government – above God. It was the chief priest who would later say at Jesus’ trial “We have no king but Caesar.”

The underlying message, however, is that Christians should “render unto Caesar what is Caesar’s” as long as it does not belong to God, and it would be foolish to think there is anything we could “render unto God” which is Caesar’s, i.e the government, because everything is created by God.

For Christians today, this means while we should be concerned about matters such as taxes and money, we shouldn’t become so obsessed with money and taxes to the point where we forget our obedience to God.

photo by tonynetone

Filed Under: Family Finances, Investing Tagged With: , , , , , , , ,

The Legend of the Three Magic Spells for an Inexpensive Date

January 25, 2012 by

inexpensive date Once upon a time, in a land far, far away from here, there was a young man who lived an ordinary life. Although this young man worked long and hard hours and was noted for his unusual degree of productivity, his wages were considerably low, and every single payday he was forced to watch with great melancholy as all of his earnings were diverted to cover his meager living expenses, leaving him with not even so much as a single shilling that he might enjoy the decency of a night’s festivities at the local pub.

Yet this did not trouble the young man as it might have in other circumstances, for he was a thrifty, prudent man of good temperament, who handled his pursestrings with restraint every day as he passed by alluring new cars, enticing gun shops, and the siren call of state-of-the-art home-theater systems. Having survived the treacherous journey through his dark university days, he had acquired the resolution necessary to protect himself from the murky bog of credit card debt. As befit his virtuosity, his reputation within the financial institutions of the kindgom was impeccable.

Had the young man been a lonely friar, traveling through the wilderness of life without a companion, this situation might have been sufficient for him.

But one day everything changed when this young man came across a girl of exceptional amiability. Enraptured by her beauty, he was overcome with the inescapable passion of romantic infatuation. With great persistence, he attempted to woo this beautiful girl, and was euphoric when she declared an interest in him, however small it may have been. After a second conversation and meeting, the young man was engrossed by her undeniable qualities and idiosyncrasies, and within a fortnight his romantic infatuation had grown and blossomed into a genuine affection for the girl, and his determination to court her exclusively increased tenfold.

Driven by the incurable madness eternally inherent in romance, he secretly planned a wondrous time to spend with her which would win her heart.

But then, the young man remembered that he was poor and had little money to spend on such pleasantries. Although the girl was by no means of high social status, tradition dictated that he demonstrate his fondness for her in a manner which in some fashion involved the spending of money in a substantial amount. The societal rules had relaxed since the days of his forefathers, in which it was strictly forbidden to allow the girl to lay down so much as a halfpence during a courtship. Still, as a gentleman, chivalrous to a fault, he was unwilling to consider an solution which involved her having to surrender any of her earnings, even if it was small. Additionally, the ostinate pride, which can only be found within the heart of a man, required him to maintain a pretense of being in a respectable financial condition.

Left with no other options, the young man sought out the advice of his trustworthy friends. Eager to see him settle down and happy, they directed him to the house of an old hermit, who for scores of years had been tied to the bond of matrimony until the untimely death of his beloved. It was rumored throughout the kingdom he knew the ancient incantations and spells guaranteed to win a fair maiden’s heart.

Despite this, they warned him, ever so severely, that this old hermit also had a reputation as a cantankerous imp who led a many young men to their dooms by offering poorly contrived remedies to their tribulations out of a twisted sense of amusement.

Having exhausted all other resources, the young man sought out the old hermit. Wary of what lay behind the door to the house, he knocked timidly, whereupon he was greeted by a sanguine, yet rather quaint man whose demeanor refuted all the unfound hearsay said about him. Welcoming him into the home with much celebration, the old hermit listened intently as the young man spoke of the beautiful girl who had captured his heart, explaining his dilemma in no uncertain terms.

After sitting there silently, meditating for a long time, the hermit took the young man into his confidence and revealed that he took had suffered the same predicament in his youth when courting his future wife. He, too, had had few coins to spare. Yet, he had managed to overcome this obstacle by learning three secret spells which, if used at their proper time, would magically cause a girl to overlook any deficiencies in the matter of finances.

The three magic spells and their recitations as recounted were:

  • The Spell of Creativity: Do that which refreshes the soul
  • The Spell of Spontaneity: Do that which is unexpected at an unexpected time
  • The Spell of Authenticity: Do that which reveals one’s true heart

The old hermit warned him, however, that the spells could only be used out of necessity, for their magical properties would fail to charm if the intent behind their usage was outside of their original design.

Thrilled, the young man profusely thanked the old hermit into the long hours of the night and then returned back to his home in a mood of elation. There, he planned the special time as he had originally intended. Following the old hermit’s counsel, he used the magic spells at their proper time and not before. He did not have to wait long to see if the spells actually worked, for the moment the girl met with him she was instantly bewitched by the power of the spells and seemed to make no observation of the lack of coins used to provide such a lively interaction.

Careful not to fall into arrogance, the young man listened to the old hermit’s sagely words and worked hard to save up enough earnings to take the girl to out every so often and did not always rely on the spells as a permanent substitute. As long as he heeded this wisdom, the girl was as pleased as is capable by a man.

Acknowledging his success, the young man’s friends inquired as to the magic spells, so that they too might utilize them in their relationships. Rather than hold it back from them in order to flout his position, the young man, out of the kindness of his heart, not only informed them of the three magic spells, but he also dictated the story to this lowly scribe, so that the knowledge might be circulated to all men, unwed or married, who would then use these spells in time of need.

The End

photo by soundlessfall

Filed Under: Frugal Living, General Finance, Life Experience Tagged With: , ,

Credit Card Mistakes To Avoid at All Costs

August 18, 2011 by

credit card mistakesIn many people’s lives, credit cards tend to take on one of two roles. One is that of an indispensable ally, one that is always available to bail you out of a tough situation at any hour of the day or night. The other? Well, that is of a cruel enemy, dragging you into a deep pit of debt and then slapping you with extra fees when you are down. Even when things are harmonious in your financial house, credit cards can be fickle friends. Make one mistake â“ a single missed payment, one charge too many that pushes you over your limit or simply apply for too many cards â“ and it can have a negative impact upon your credit score. That, in turn, can result in higher interest rates and other bad news for your budget.

Here are a few of the most common â“ and not to mention expensive â“ credit card blunders that are best avoided.

Late Payments

It may be fashionable to be late to a party, but it’s downright dumb to be late paying your credit cards bills. Not only will missing a payment cause your card issuer to charge you a late fee, but it will lead to them increasing the interest rates on your account. Your payment history accounts for about 35% of your credit score and one single messed-up payment can cause your score to take a serious dive. If you are not set up to make payments online, make sure you drop your check in the mail well in advance of its due date.

Making the Minimum

If you are trying to pay a balance, you must make more than just the minimum payment. Consider this example put forth by the website, omaha.com:

With a $5,000 balance and annual interest of 14 percent, a $100 minimum payment will pay off the bill in 22 years, with $6,110 going for interest. If you pay $150 a month, the bill is gone in four years with $1,369 in interest.

Federal Laws are now in place requiring lenders to display, on every statement, how long it would take you to pay off a balance making only the minimum payment. This as well as the monthly amount you would need to pay, in order to pay off the debt in three years.

Withdrawing Cash On Your Card

DO NOT, as in ever, ever, ever, use a credit card for cash advances, except in the instance of an absolute emergency. Aside from the dizzyingly high interest rates associated with pulling out cash on your cards, there are typically additional fees. Also, interest begins to accrue IMMEDIATELY on the amount of cash withdrawn which means that you will be paying back much more than you borrowed even if you quick about it.

Paying An Annual Fee

Some rewards cards come with an annual fee and sometimes those rewards are tied to the amount you charge. So no matter how nifty the perks on your plastic, they may not be worth what you will be paying for them. Make sure you are not tempted to spend more than you normally would on your card just to get those rewards.

You should always take the time to make sure you understand the exact terms of your credit card. That way you will avoid unnecessary fees and penalties. If you are in the market for a new card, comparison sites such as credit land can be an invaluable tool. If you know how to use your credit cards mindfully, your wallet will house plastic pal instead of foes.

photo by moneyblognewz

Filed Under: Credit, Debt, Frugal Living Tagged With: , , , ,