26 Don’t agree to guarantee another person’s debt or put up security for someone else. 27 If you can’t pay it, even your bed will be snatched from under you.

Proverbs 22:26-27 (NLT)

Here’s another reason not to co-sign for a loan for anyone. Because the Bible says so! If you do co-sign for someone, make sure you can pay for it because it is your debt. And more often than not, it will become your debt as soon as the person you “helped” stops making payments. This will ruin your credit because it is your debt. In addition to that, your relationship with that person will most likely be ruined as well.

Just don’t do it.

“Money can’t buy friends, but it can get you a better class of enemy.”

Spike Milligan

It is amazing how jealousy can rise up when someone has more money than someone else. That’s why people say never to discuss salary or wage with co-workers. Because it really doesn’t matter what your co-workers make. As long as you’re giving it 110% of your effort and working hard, you should be getting what you’re worth. If you’re not, negotiate with your employer or look for another job where you’ll be paid what you’re worth. And remember that you probably make more than 90% of the world.

wamu5cd

Now through this Friday, August 29th, WaMu is offering a 13-month 5.00% APY CD available in the branches, online, or by phone. They are really pushing this hard and is a great rate. Penalty for early withdrawal is 90 days interest.

They are also offering a 12-month 5.00% CD online which might be better for you if you don’t want to lock in your money for 13 months. I’m not sure when this deal expires, though. This is only available online. Minimum is $1000 to open for both.

I’m thinking about opening one up myself. This may be a desperation move for the large bank to get some cash but I wouldn’t be worried unless you have more than $100,000 with them. The FDIC will cover everything under $100,000.

Kansas Bank Shut Down

August 23, 2008

dollarbankclosed

The FDIC (Federal Deposit Insurance Corp.) shut down the Columbian Bank of Topeka in Kansas yesterday which had about $752 million in assets and $622 million in deposits.

This is already the ninth bank failure this year. There were $46 million in uninsured deposits by 610 accounts at the bank that exceeded the $100,000 insurance limit.

Now, I don’t write this stuff to scare you. I write this to let you know that you will be covered under the FDIC insurance for any deposits under $100,000 at a FDIC-insured bank. You don’t have to worry.

For more on this subject, check out this and this.

Source: CNN Money, FDIC

32 All the believers were united in heart and mind. And they felt that what they owned was not their own, so they shared everything they had. 33 The apostles testified powerfully to the resurrection of the Lord Jesus, and God’s great blessing was upon them all. 34 There were no needy people among them, because those who owned land or houses would sell them 35 and bring the money to the apostles to give to those in need.

Acts 4:32-35 (NLT)

From the Life Application Bible:

The early church was able to share possessions and property as a result of the unity brought by the Holy Spirit working in and through the believers’ lives. This way of living is different from communism because (1) the sharing was voluntary; (2) it didn’t involve all private property but only as much as was needed; (3) it was not a membership requirement in order to be a part of the church. The spiritual unity and generosity of these early believers attracted others to them. This organizational structure is not biblical command, but it offers vital principles for us to follow.

I’m still working on moving everything to the new server at christianfinanceblog.com. I’m also working on a brand new design for the blog! Here’s a little preview of what’s to come:

newlayoutpreview

Hope you like it! Let me know if you have any design ideas or suggestions. It’s just a mockup right now. I still have to do the coding for it. I’ll let you know when the blog’s ready to switch over to christianfinanceblog.com.

In the meantime, subscribe to the RSS feed and you’ll always be up to date on everything going on here including when it switches over.

Yes, that’s right! Christian Finance Blog is changing hosts! Currently the blog is hosted for free at WordPress.com but I have secured some private hosting for the blog and will be moving to hosting directly on christianfinanceblog.com.

In the meantime, you can still access my blog at christianfinance.wordpress.com. The christianfinanceblog.com will likely not work while I get it set up to go. I’ll let you know when it’s ready to use again! Thanks for being faithful and loyal readers and stay tuned for more great stuff!