Being Financially Faithful

                In Matthew 4:18-22, Jesus calls his first disciples and they leave everything behind to follow Jesus. In Luke 18:18-22 when Jesus is asked by a rich man what he must do to inherit eternal life, Jesus brought to his attention that he had been faithful to the commandments but hadn’t sold everything he had and given it to the poor. In Mark 12:28-32 where Jesus is asked which was the most important of all commandments, Jesus said to first “Love the Lord your God with all your heart and with all your soul and with all your mind and with all your strength” and secondly “Love your neighbor as yourself.” My takeaway from these scripture is that I must make God and Jesus priorities in my life and care for others however I can.
                Unfortunately I didn’t realize the guidance in the Bible on the subject of financial stewardship until later in life after the pull of our culture and my own desires set had already taken a toll. I have the debt to show for my incompetence. But as Jesus said in Luke 18:27, “What is impossible with man is possible with God.”
                So what does it mean financially to put God first and love my neighbor? First is to commit my firstfruits to the church. Second is to give generously in care for my neighbors.
                From Genesis on, God has instructed us to give our firstfruits proportionally. Technically, tithe in Hebrew means tenth and hence involves giving the first tenth of our harvest. However, the proportion depends on the individual as Paul said in 2 Corinthians 8:12, “if the willingness is there, the gift is acceptable” and in 2 Corinthians 9:7, “give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.”
                Aside from the firstfruits committed, we are to give generously. As said in Leviticus 23:22 “‘When you reap the harvest of your land, do not reap to the very edges of your field or gather the gleanings of your harvest. Leave them for the poor and for the foreigner residing among you. I am the Lord your God.’” I gather from this that I am to use what I need after providing the first proportion of my income to the church and give the rest charitably.
                For some, giving a tenth of their income is difficult given their financial circumstances. I read that 65% of families are living paycheck to paycheck and the average mainline churchgoer gives less that 3% or less of their income to the church. Given my personal financial situation and this need, I started a financial stewardship ministry to spread the good news. I believe accepting God’s grace and guidance enables us to be financially faithful.

Keep your home inventory away from home

My parents recently lost their home to a tornado. The house was demolished and my parents salvaged what they could. My mother told me that they had an inventory of their possessions stored on their computer, and that the computer wasn’t destroyed in all the devastation. Thank goodness for that. All their effort to document their possessions wasn’t lost.

This calamity reminded me of my last will and testament that I had just recently executed. I uploaded the scanned document to my Google Docs account and shared it with certain people so they have access to it in the event of my demise. I could store my home inventory in my Google Doc account, so I could access it later in the event that my home and computer is demolished.

The home inventory should be kept up to date, just like my last will and testament. Therefore, I should have triggers in place to update it every year or when a significant event occurs.

My lesson here is to keep good records of your home inventory and store those records outside of the home.

My personality test

I was introduced to Myers Briggs personality test at work. The upper management in IT had taken the test to expose communication styles. After searching the web to learn more, I came across the Jung typology test which is similar (and free). Here are the results of my test.

ESTJ - "Administrator". Much in touch with the external environment. Very responsible. Pillar of strength. 8.7% of total population.

Personality Test by SimilarMinds.com

Poor Credit and An Opportunity to Consider

After a discussion last night with a colleague regarding credit scores and the immature decision making process of financial institutions based on these scores, I remembered a blog post that I wrote in December 2008 regarding debt and unemployment. Many people accrue debt due to expenses incurred during unemployment. Hence, a poor credit rating may be a result of a prolonged period of unemployment. As far as I know, financial institutions based decisions on the score and do not consider the reasons behind the score. I'm still paying for debt accrued during my year long unemployment in 2003-4. Therefore, I want to reach out with some options that may help mitigate or overcome this situation.

I have these options listed at this link on my website. For those of you that are unemployed, I don't expect that the income generated by these options would replace the income that you made while employed. However, that is possible if you feel strongly about the options and devote adequate effort. I do expect that this income could mitigate the debt accrued during unemployement. In other words, you may reduce your future burden. For those of you that are employed and have debts, income generated by these options could reduce or pay off these debts. For those of you that are employed and are debt free, income generated by these options could add to your reserve fund. Your fund should eventually contain 3 to 6 months of income.

I would be happy to discuss these options with anyone. Please feel free to contact me at todd@toddthigpen.info.

The value of good counsel

During a stewardship class that I recently attended at my church, I read Proverbs 15:22.

“Plans fail for lack of counsel, but with many advisers they succeed.”

This wisdom from the Bible reminded me why I value my legal plan from Prepaid Legal Services and why I enjoy offering the plans to others. A legal plan allows people to affordable access legal counsel. I have gotten some good benefits from my personal plans that have saved me time, money, and headaches.

I am also excited that the Prepaid Legal Services website now includes free legal videos on a variety of subjects. From that page, there is a link to public domain resources with more information on a variety of subjects and a link to the Forms Service Center that provides forms for a variety of legal needs. If interested, learn more at my PPL website and get your plan.

Since I’m talking about my side business, I would appreciate your help in my effort to reduce my debt. Information is available at my website.

Yes, I have made financial mistakes in my life and have not been a proper steward. However, I know now that I am responsible for taking care of what I have been blessed with. I tell you that I sure do act better as a parent when I remember that I am caring for his children.

Now with good counsel and the help of good people, I will get out of debt and be the assertive philanthropist that I want to be.

Generosity during the holidays.

I was reminded this past holiday season, a time where we help, give, reciprocate, and appreciate, that people help in ways within their means that they believe will benefit others. Likewise, people reciprocate in the same manner. Unfortunately, some people do not appreciate the help or gifts offered to them. They fail to recognize the intention. Failure to appreciate generosity, even if it doesn’t appear to be of any value or benefit, will degrade relationships. By “doesn’t appear to be of any value or benefit,” I mean that the value or benefit may become apparent later. However, the lack of appreciation may have already damaged the relationship. My advice is to appreciate all generosity. Appreciating someone’s generosity doesn’t mean accepting it, but it positively acknowledges the offer and sustains good relations.

Leading a horse to water

You can lead a horse to water (but you can't make him/it drink). I think about this all the time when I propose opportunities to people that express a need, and they simply dismiss the proposal. In other words, I direct them to the water but they will not drink. Even though they are thirsty, many will not drink. Furthermore, many will not even go to the water. Similarly, it's frustrating to see someone struggling in the pool that will not grasp the floatation device within their reach.

So why do I bother to extend my assistance? I have faith in people, and I believe I am accountable to a higher authority for my actions. I believe I shouldn't walk by a person in need without offering assistance. I do recognize sometimes that I overlook the need, but that's another issue. I cannot make people consider or accept my assistance, but I feel better knowing that I acted. I can only hope that people learn that they are less likely to succeed with tunnel vision.

I agree with the theory of relativity where people prioritize based on what is important to them. I'm inclined to believe that the successful people have done what they needed to do to become successful whereas the people that want to be successfully generally do what they want to do to be successful. In other words, people generally avoid needed actions that are uncomfortable. Like the SNL skit says about credit, "Don't Buy Stuff You Can't Afford." With the same mindset, assess opportunities in front of you, create an opportunity, or create the environment for opportunity to thrive if you can't find an opportunity. It may seem uncomfortable, but consider the comfort of your current situation.

Speaking of opportunities, I think a great opportunity is getting a free Blastoff account. There is no harm in checking it out, and it may lead to more opportunities.

Social Media for Social Interaction

I have experienced a lot of social media activity lately that unfortunately has contradicted my concept of social media. My definition of social is "pertaining to, devoted to, or characterized by friendly companionship or relations." I previously wrote a post at http://toddthigpen.blogspot.com/2009/03/personalize-your-linkedin-invitations.html that addresses the problem of sending the standard text provided by LinkedIn as the only content of invitations to me. These invitations from people I don't know are not constructive, and I consider them unsociable. I'm not saying that I only accept invitation from people I know, but give me a reason if I don't know you to accept the invitation. Furthermore, the reason should be sociable and not some unauthentic pitch.

Increase your value by serving as a connector

I believe being a connector is a great way to strengthen relationships. When you can connect two or more people together that can add value to one another, you should also increase the value of your relationship with each person because of the value you gave them. You can also be a connector by connecting someone with information or a resource they need. This is why I believe an open mind that entertains information is important. Although the information may not be relevant to you, it may be relevant to someone you know or will know and you can pass along the information. I see many professionals dismiss information because they feel that it isn’t relevant to them.

I believe it is possible to serve as a connector as stated above while also benefiting financially. There are many ways, one which I have proposed throughout my blog, to gain income through affiliate programs or network marketing. The aspect here is that the income is a benefit and not the purpose. The purpose is to help someone. If you help a person you know by introducing them to something or someone that will help them, you should strengthen your relationship while benefiting financially.

I know someone may get agitated by the thought of marketing something to a friend. Marketing may be an option, but I'm talking about being connectors where you introduce someone you know to a person that can help them. For example, you may be an independent associate of Pre-Paid Legal Services in my organization and simply refer someone to me for assistance with their needs. You don’t market or sell. You simply know their needs and refer them to possible help.

Some people may feel that they don’t want to introduce their friends to possible assistance because they think that there is a possibility of hurting their relationship with their friends. I look at it this way. I would rather inform someone of the resource and have them reject the resource rather than not inform them and have them suffer through burdens. Within my network, I would rather have someone propose something they believe may help me than someone that doesn’t. I consider the proposal as thoughtfulness and consideration.

I thought of this the other day as I watched a story on the news about people fearful of their unemployment benefits ending. I know several people in this situation. Well, everyone knows people and people have needs that you may be able to address just by serving as a connector.

Regardless of the possibility of benefiting financially, you will definitely increase your value by serving as a connector. After I started attending meetings of the Triangle Networking Group in December 2003, I looked forward to every meeting because it was an opportunity to learn, talk with people and, more importantly, help someone in any way I could. The meetings gave me a sense of empowerment and purpose. If nothing else, my sense of value increased and I believe that is something that many unemployed people need.

Sick of dealing with Chase Bank

I am sick of dealing with Chase Bank. My wife has a credit card, which has been closed, that is grossly past due. I've tried my best to work with Chase. I requested a payment plan and was told by a representative that they would put the account on a plan, but then I received a letter that the request for the plan was denied. When I complained, I was then offered another plan for $10 more a month and I accepted, but I received another letter that the request for that plan was denied. I issued a complaint to the Better Business Bureau. Chase responded with a message that they would not speak to me because the account belongs to my wife. They have no problem talking to me about making a payment, so what is their problem about talking to me about the complaint. I just spoke with another person from Chase that constantly pressed me for payment but would not accept that I will not make any payment until someone in authority calls me directly and addresses my complaint. She definitely advised me again that the account will be charged another fee if payment isn't received on time. I'm sick of transfers to departments and requests for programs. I believe I need a bailout from Chase's monotonous, inflexible, and inconsiderate financial stronghold.

Personalize your LinkedIn invitations

I recieve many LinkedIn invitations from people I don't know that simply contain the standard text provided by LinkedIn, "Since you are a person I trust, I wanted to invite you to join my network on LinkedIn." This invitation doesn't make any sense if I don't know you. How can you trust me if we have never met? I like to build constructive relationships and believe this activity requires authenticity. Standard introductions do not reflect authenticity.

volunteer contributions and recommendations in LinkedIn

The Triangle Networking Group just had its Career Transition and Expansion event yesterday, and I believe it was a success. Many people expressed their appreciation. I believe many people came to the event without a plan of action, but they left with a plan of action. The event couldn't have been a success without contributions from many volunteers. I want to acknowledge the great work these volunteers contributed, but how can this be done in LinkedIn.

LinkedIn has the ability to write recommendations for the various positions with companies under Experience and various institutions under Education on my profile, but how can I be acknowledged for my volunteer work. I found that I could create a position named "Volunteer" at a company named "Various Organizations". I chose “philanthropy" as the industry because I volunteer to help others. Similarly, people can do the same and list their activities as a volunteer. Other people can then recommend them based on their volunteer work.

My focus with the Triangle Networking Group is on achieving professional success. I believe many factors contribute to professional success including character. I believe emotional intelligence is important (e.g. your ethics, values, habits, and morals). These attributes don't come through in a resume. However, they can through digital media such as LinkedIn (e.g. volunteer contributions and recommendations).

Unemployment and Mitigating Debt

I discussed investing in yourself during unemployment in my last post, and I believe the best way to invest in yourself is developing streams of income that will deliver without your direct attention, even after you find employment. However, even the employed folks out there can take advantage of the following proposal.

Another reason for developing this avenue is mitigating debt. During a prolonged period of unemployment or underemployment, you will accumulate debt. I am speaking from experience about unemployment. Debt will really start accumulating when the unemployment insurance payments stop. Yes, you may ween yourself down to the bare essentials. However, you still have obligations like the mortgage, your family, the car payment, and the utilities that must be maintained. Therefore, accumulating debt is most likely unavoidable. Developing a stream of income may not totally replace your lost income, but any income will mitigate your debt, i.e. you borrow less to pay for your essentials. When you do acquire employment, use the income stream to help pay off your debt.

Dave Ramsey has a great plan in his book, The Total Money Makeover. The plan includes a method called the Debt Snowball where you devote all available income to pay off debts in an ispiring way. Your alternative stream of income can help you build the snowball.

Invest in yourself while unemployed

In a past post, I advised people to invest in themselves while unemployed. This advice is even more pertinent now given the current recession that I heard officially announced on the news tonight. I've seen many layoffs in the triangle area of North Carolina over the past several months, and it will get worse over the next several months. The job market will be an employer's market because it will be saturated with unemployed job seekers. I experienced this state when I was unemployed back in 2003 to 2004.

I am building the Triangle Networking Group to assist businesses and professional during this time and have been recruiting volunteers. One unemployed professional I am recruiting stated to me today that she was just so busy trying to find employment 24/7 that she hadn't had a spare moment. I imagine people will go crazy if they spend 24/7 looking for a job because there are only so many stones to turn over, and open positions will be bombarded with a multitude of candidates. Therefore, you should create leverage for yourself that allows you to turn over stones while adding other value. Like in billiards, why not pocket two balls with one shot or make shots that align for the next shot. Spend some time to increase your value like learning, volunteering, or developing an alternative stream of income.

I mentioned in a past post that I have an alternative stream of income and offer the opportunity to others with no financial commitment on their part. I believe investing your time in this option is worth it. The period of unemployment will probably be more than expected. I was unemployed for a year during 2003 to 2004 and applied to about 600 job posts. A little extra income would help during this period and you may even make up your lost income. Furthermore, building an alternative stream of income that will deliver income without your direct effort increases your leverage. When employment is finally offered, the salary will probably be lower than expected. After all, it will be an employer's market. A stream of income that doesn't require direct effort while employed at the new job will supplement the lower salary. Furthermore, a safety net will exist for future unemployment. As I mentioned in a past post, North Carolina is an "at will" state with skewed legislation. Employers can fire employees within 90 days without reason.

However you invest in yourself, just do it. Don't focus all your efforts in increasing a potential employer's value. Your value should count, so don't devalue yourself.

Consistency and Authenticity: Do as you Say and Say as you Do

I believe consistency and authenticity are important traits for successful people. I've recently been reading about these traits in a book entitled "Speaking the Truth in Love: How to Be an Assertive Christian" and see commonality in what I've read about enduringly successful people in the book entitled "Success Built to Last: Creating a Life that Matters."

Truly successful people believe in something and assertively act. They don't act aggressively such that they push beliefs or agendas, but they act and react with situations in ways that promote success. They speak honestly and act consistently with what they say. They authentically relate with people. They act, assess, and adjust if necessary.

As an avid networker and professional, these traits are important to me in relationships. I want to work and deal with people that are honest and speak authentically. They do not act inconsistently with what they say. I realize that factors may change outcomes such that people are unable to deliver what they say. However, a true professional should communicate this change. I believe it is proper etiquette because the lack of this communication weakens relationships. This integrity adds value to the relationship because they accept accountability. Therefore, I respect people that do what they say and honestly say what they do.

Keep Going and Adjust: the Train is Coming

My faith keeps me going. It's taken me a while to let go of burdens and realize the nonfulfillment or unintended results of my plans are not ultimate failures. There are various factors, many of which are unknown to me, beyond my control. Instead of stressing over what I cannot control, I continue to focus on what I can control. I control my actions, not those of others. I cannot make someone hire me. I cannot make someone believe my ideas. I cannot make someone support my business ventures. I can plan and be ready when the opportunity is available. If something happens, I reassess the situation and adjust. It’s almost like I don’t have a train yet, but I can lay the track to the destination. I come upon obstacles like mountains. I assess the situation and either go around or through it.

The Prosper loan I created to personally focus on building the Triangle Networking Group didn't work. The bidding closed with only 1% funded. This is surprising considering I created a blog article stating my intentions and emailed about 450 of my LinkedIn connections requesting assistance getting the word out about what I'm doing. I know many of the 2700+ TNG members see value in the organization and many verbally support what I'm doing.

It is easy to feel distressed and neglected. However, a friend reminded me that I don't know all the factors. I don't know how many people read my email nor had the time to investigate what Prosper is. Many people may have misunderstood what I was doing. As a friend recently told me, and I have observed repeatedly in the 3 years I have led the TNG, people probably will not act if what you’re asking is not easy to understand.

People, especially professionals, will not take the time to investigate if the value is not apparent. This reluctance to investigate will hinder professional success. Have you ever heard “if I had only known it was that easy” or “I didn’t know you could do that” before from someone that didn’t take time to investigate something?

Ironically, one of my objectives for the Triangle Networking Group is to reduce the “investigational” burden on professionals through the leverage of a network. I want to support my professional community, but I need the support of my network and professional community to do so.

I will continue to lay the track in anticipation of the train. The passengers need to get to their destination.

Triangle Networking Group and Financing an Opportunity

I have been a member of the Triangle Networking Group since December 2003 and assumed leadership of the organization in April 2005. I have worked diligently in a volunteer capacity to create and sustain an organization that enables professionals to succeed in their professional endeavors through connections with opportunities, information, and people. This has been a cumbersome and sometimes daunting task as a volunteer with a fulltime job and a leadership team comprised of fellow volunteers.

My goal is to build an enduring organization that provides tangible value for professionals, specifically in the Triangle area of North Carolina, seeking to achieve professional goals. I believe this is a noble cause and deserves a concentrated effort; an effort of which cannot be effectively realized with volunteers that have limited time to devote due to other responsibilities. The TNG exists to reduce burdens on professionals, and I cannot effectively build an organization to do so for professionals with burdens of my own.

I would like to increase my effort. To do so, I would need sustaining capital. I have a plan that requires temporary capital to get things going. I believe that I could get the TNG operational in a sustaining fashion within two months. I also have other endeavors, which I have discussed in other blog articles, which would produce income given some time to devote.

I have set up a loan to be funded at Prosper. I ask your assistance to get this loan funded. Please pass the link for my loan (http://www.prosper.com/lend/listing.aspx?listingID=396753) and possibly the link to this blog article to your contacts. If so inclined, please invest in the loan. I will not get the loan unless it is funded for the full amount by Thursday, 9/18. Please understand that this loan is an investment vehicle through Prosper to allow me to build the TNG. This loan is my obligation, not the TNG's. This is the catalyst to get things going.

Financial Hardship: the key phrase

I saw an infomercial the other day about a debt reduction book where the author said there is a two word phrase that will change the conversation with creditors. However, he didn't give the phrase during the infomercial. He has a book to sell. I know this phrase. After many months of past unemployment and degraded credit, I've dealt with many creditors. This includes the mortgage company that started foreclosure proceedings on my house.

The key phrase is "financial hardship." This will turn the conversation. I believe they won't even discuss a relief plan until you say this phrase. On top of that, the mortgage company didn't even propose a "short sale" until I mentioned my attorney told me about it. When I told the mortgage company that my unemployment caused my delinquency, their solution was referring me to a staffing firm. Another option my attorney told be about is the "deed in lieu of foreclosure." However, a mortgage expert told me that the latter option would have the same effect on my credit as a foreclosure.

By the way, I avoided foreclosure by selling my house through an approved short payoff with my mortgage company. It was a wild process. The mentality of lending institutions and the way they operate is bewildering.

Affiliate programs and referrals: the value of a customer

I have been looking at referral programs for subscription services in the past few months. I find it really unfair that some of these services give referrers a one time credit for their referrals that result in a continued customer. The service continues to profit from the referred subscriber while the referrer doesn't.

I have been looking at the independent associate opportunity from Pre-Paid Legal Services. I've discussed the benefits I have received from my personal legal and identity theft protection plans in previous articles. I've also discussed the opportunity I can provide people by giving them a business at no financial cost and handling referrals from them. The referrals would offset the cost of an associates personal plans. It is possible to earn enough to pay for the personal plans, if not earn additional income.

Imagine having an attorney or identity theft investigator through your Pre-Paid Legal membership available at your discretion for no cost. Imagine if the cable tv, telephone, or auto insurance companies would do this for customers?

Empower Yourself: Think employed while unemployed

I have experienced my fair share of unemployment. One period lasted a year and the last period lasted 5 months. Through my participation with the Triangle Networking Group, I have associated with many unemployed people in transition. I can understand their frustration and anxiety. They have lost their main source of income and possibly their sense of worth. I've been there. I've been a member of the Triangle Networking Group (TNG) since December 2003 and Executive Director since April 2005. I have associated with many unemployed professionals in transition and attempted to assist them. The main obstacle I see is mindset. For some reason, the unemployed people I've encountered think they have to spend all their time looking for a job. I understand this attitude for those that are new to the unemployment scene because they are optimistic that they will quickly find another job. There are also those folks that are in panic mode to replace the income source they lost. I have heard repeatedly that they didn't expect to be out of work this long. I have learned that you can't make the hiring authorities give you a job. There are many factors and hurdles involved, so why concentrate all your time in your job search.

If you can spend 40 hours a week just on your job search and keep your sanity, more power to you. Some folks would rather add value for someone else rather than increase their own value. In other words, they devalue themselves. Don't think like you are unemployed; think like you are employed as the head of your career. You can add value to yourself through education, establishing another source of income, and volunteer work. Now spend 20 hours a week on your job search and 20 hours a week, or a proportion that makes you comfortable, increasing your value.

I had a legal plan and identity theft plan from Pre-Paid Legal Services for months previous to the abrupt end of my last job. While unemployed, a friend and colleague on the TNG leadership team was looking for assistance educating people about identity theft. I needed to get my mind off of my job search, so I agreed to assist her. I because an independent associate for Pre-Paid Legal Services with my friend as my sponsor. This was one of my greatest decisions, because I learned so much more about my plans and the value they can provide to others. I learned how I can provide peace of mind to others, but I also gained some peace of mind as well. I was in a business I could control and this complemented my job search because I wasn't obsessing over the lack of jobs available or nonresponsive employers and recruiters. I could relieve the anxiety caused by something I couldn't control with the satisfaction of something I could control. I'm now back in a fulltime job. However, now I have an extra source of income. Furthermore, I have a contingency plan for future unemployment.

However, the mindset of the obsessed unemployed folks still prevails despite the opportunities I have devised and proposed. I can give people a business at no cost with varying degrees of commitment. I can put people into a business at no financial cost to them helping other people protect themselves and their family. They can pursue the business actively or use it as a referral vehicle where I am their partner (or employee depending on your point of view). I can also offer my services as a LinkedIn consultant as a benefit of purchasing legal or identity theft plans.

Basically, I offer to provide unemployed folks with a side income at no financial cost and little commitment with my continued assistance. I am amazed that folks decline my offer, yet they are still unemployed and complaining.

The opportunity I present unemployed people may not be attractive, but my message is to relieve your anxiety by doing something positive with your time that will add value financially or your career.