Religious groups offer financial guidance, too

By Rana L. Cash

The Atlanta Journal-Constitution

As a mechanic with Krohn Racing, Lawrin Jackson fixes engines and such, no matter how complicated, messy or tedious.

Rebuilding a transmission is one thing. Balancing a checkbook is another matter, and Jackson sped away from it like a driver throttling down the Road Atlanta track in Braselton.

But that came to a screeching halt in December when his wife, who handled the family’s money, suffered a stroke at age 40.

“We were in a tailspin after that,” said Peggy Sue Jackson, who had worked as a controller.

They found help at Calvary Chapel in Buford. But it wasn’t simply spiritual guidance. They learned fundamental financial planning: budgeting, setting financial goals, investing and more.

Navigating through layoffs, income losses, foreclosures and general stress related to the two-year economic downturn, countless thousands have turned to faith-based institutions for both prayer and practical advice.

Whether the church is the appropriate platform for conversations about 401(k)s, loan modifications and credit counseling isn’t debatable, they say. Ron Blue, the Atlanta-based author of “Master Your Money,” points out that there are five times as many New Testament Scriptures relating to money as prayer.

“It’s not either-or; it’s both--and,” said Kevin Stacia, a minister at Ebenezer Baptist Church who teaches stewardship and “Road to Financial Freedom” classes based on the teachings of Crown Financial Ministries. “It would be pretty foolish to think that the people in the church aren’t dealing with the same issues outside of the church as everyone else. ... It’s just as much our obligation to provide a spiritual perspective on money management as it is a financial planner’s to provide an investment perspective on money management.”

Today, more than 3,500 people will attend the Total Money Makeover conference at the Atlanta Civic Center led by Christian money guru Dave Ramsey.

Ramsey’s daily radio talk show, which airs in metro Atlanta on WGST-AM 640, is one of more than 100 media forums for faith and money messages nationally. Blogs, Web sites and radio shows have grown in popularity, along with books and articles. Locally, places of worship have broached the topic without hesitation.

At Congregation Beth Jacob in Atlanta, Rabbi Ilan Feldman has addressed economic challenges from the pulpit and in an article in the Orthodox synagogue’s bulletin.

“People want to know what the Almighty’s guidance is in all kinds of crisis,” Feldman said. “How we manage our money says a lot about how we express our values.”

Feldman, like many others in his position, does not have a background in finances. Still, parishioners flock to spiritual advisers to learn about finances.

Tanya Brown considers herself financially astute. Always mindful of saving and investing, the 35-year-old information technology consultant nevertheless jumped at the opportunity to enroll in Ebenezer’s workshop.

“A lot of times you look at the media, and it’s doom and gloom,” Brown said. “You don’t hear about people who still have their heads up and are actually investing more money. Even if some of the concepts in the classes weren’t new, it helped reinforce some things.

“To me, it made perfect sense because if I’d gone somewhere like Charles Schwab, it wouldn’t have related to me personally.”

Thomas Cloud Jr., a certified financial planner and fiduciary in Atlanta who writes the blog Entrusted Steward, does not hide the fact that his advice is rooted in his religious principles.

“I think a lot of money managers are not asking how much is enough. It’s get all you can,” said Cloud, a Georgia Tech graduate. “... For me, it comes down to a faith issue: Store up treasures in heaven where moths do not lie.”

Critics might point to a common theme in all the classes: tithing, or giving 10 percent of your earnings to the church. They say it is this type of giving that keeps mega-churches afloat. Proponents argue that the focus should not be on the prosperity message or the opposite, living in poverty. Rather, giving is a cornerstone of financial success.

“Both of those are extreme inaccuracies when it comes to Scripture,” said Darrell Pruitt, an assistant pastor at Calvary Chapel.

The church’s goal, said the Rev. Kenneth L. Samuel, pastor of Victory for the World Church in Stone Mountain, is not to get rich.

“The goal is always to raise the tide so that everyone’s boat rises,” Samuel said. “If the aim is to accumulate wealth so that I can horde it, then I lose the Christian edge.”

For the Jacksons and others, Pruitt’s Financial Faithfulness workshop was a life jacket.

“Before, the finances were all my responsibility, and I worried a lot about them,” Peggy Sue Jackson said. “We both understand now that it is truly better for both of us if we’re involved.”

They’ve written down long-term financial goals, and before they buy anything, they look at the list.

“The class helped me focus, to see where all of my expenses were going,” Lawrin Jackson said. “I was extending myself and didn’t have anything left. It helped me better control my spending.”

At Providence Baptist Church in Atlanta, the Rev. Derek Moses answered a battery of questions. How can I prioritize and know which debts to start paying off? How can I pay off my mortgage sooner?

Moses hammered home the basics — little expenses will sink a big ship, and don’t compete with your neighbors and friends — but he went deeper, too. He discussed loan modifications, refinancing and debt reduction.

Perhaps his best advice: “Pray for wisdom.”

Financial workshop

What: Total Money Makeover Live!

When: 1-6 p.m. today

Where: Atlanta Civic Center, 395 Piedmont Ave. N.E., Atlanta

How much: $46 general admission; $76 VIP seating; $230 platinum seating

How to register: Call 888-227-3233 or visit daveramsey.com