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“So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” (Luke 16:11, NIV84)

As a listener, you already know that the entire team here at the Stewardology Podcast is passionate about using the money and resources that is in our care to bless the Lord’s work, His people and to meet our own needs…and in the end, we even get to have some fun with it. Like Luke 16:11 says, it is about being trustworthy with what is in our care today!  And when we are, the Lord blesses us with “true riches” someday. What are some of the ways that we can move toward being “trustworthy?”  One way is how we spend our money.  In today’s episode, we are going to tackle the topic of DEALS, and whether or not they actually save you money!  Let’s jump right into this timely discussion and examine deals, and in the end, see some Biblical guidelines we ought to process pertaining to them.

 

When deals DO save you money

  • It is an item that you were going to buy anyway.
  • It is an item that you already use, or will regularly use.
  • It is an item that you will pay cash for, or pay it off in full when the credit card bill comes.
  • It is an item that you shopped around for, and you found the best price.
  • It is an item that fits within your budget (both today, and tomorrow – no recurring fees or up-charges)

 

When deals DON’T save you money

  • When you buy something on sale that you did not plan on purchasing. This uses money you intended to go elsewhere to go to that item. This is also called “bargain hunting.”
  • When you buy an item on sale and not look at the “unit price” which may be cheaper than the sale. When you purchase more than the “loss leader.” An example is when Turkeys are on sale, but they get you on all the other fixings at regular price
  • When you buy a “lower quality” item due to the price, but it does not last long or is an inferior product that will need to be repaired or replaced sooner than later.

 

Prime day

  • Is Prime Day Worth It? It depends on what you’re shopping for. Prime Day typically features deep discounts on items like Amazon devices, robot vacuums, headphones and kitchen appliances. For many of those items, prices are on par with what you’d see during Black Friday or Cyber Monday, so you might as well shop early (Forbes). 
  • There is A LOT of marketing hype to get us to buy something. And it works.
  • There is a Fear Of Missing Out (FOMO). You HAVE to be involved on Prime day!

 

Principles for “Sales and deals”

Is there a stewardship decision-making framework for guiding people to determine whether or not it is a good deal for them? Yes! Here are some guidelines and principles:

  • It is never a good idea to take out a loan to get the ‘deal?’
  • If you are in budget-crisis mode, unless it’s something you were already planning on buying this month, and you have the money for it, then go for it! It must be a NEED that you were already planning to spend on.
  • Is, “I may need it someday” a good reason to pick up a deal?
  • Avoid impulse sale decisions. Pause, and make sure that you and your spouse are ready and equipped to make that transaction.

The dangers of sales and deals:

  • We can get sucked into materialism.
  • Urgency of the moment doesn’t give you the time to evaluate whether or not you actually need it.

 

How to find a good deal

  • Facebook marketplace
  • Look for companies that sell used, overstock, or reconditioned items.
  • Online auctions (but beware of the dangers of auctions.

If it’s too good to be true, it probably is. So be careful!

 

Stewardship Application

5 verses to contemplate during these shopping days…and beyond!

  • Matthew 6:21 – For where your treasure is, there your heart will be also.
  • 1 Timothy 6:7-8 – For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.
  • Proverbs 21:17 – Whoever loves pleasure will become poor; whoever loves wine and olive oil will never be rich.
  • 2 Corinthians 9:8 – And God is able to make all grace abound to you, so that having all sufficiency in all things at all times, you may abound in every good work.
  • Hebrews 13:5 – Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.”

It comes down to Needs vs. Wants.

Just because it’s a good deal doesn’t mean it’s a good deal for you!

 

 

Next Steps

 

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The topics discussed in this podcast are for general information only and are not intended to provide specific investment advice or recommendations.  Investing and investment strategies involve risk including the potential loss of principal. Past performance is not a guarantee of future results.

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