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Financial Freedom Friday (dfree tip of the week 05-24-13)

Friday, May 24th, 2013

Dear FBC Faith in Action Partners,

Last week, much of the country caught a mysterious ailment known as “lottery fever”. This ailment is mysterious because its victims spend untold amounts of money on a ticket that has little to no chance of winning.  I understand that it’s easy to dream of the wonderful things that we would do and buy if we hit the mega-jackpot, but please don’t get caught up in that fantasy.

Let’s talk reality.  Those who regularly play the lottery fall prey to get-rich-quick schemes and the allure of gambling.  They use money that they don’t have to try to create money that they rarely win.  Trying to win “the big one” does not contribute to the commitment of dfree living; it merely sustains illusions and postpones the end of enslavement to debt.

God calls us to live in the present even as we keep our minds and hearts on eternity.  This duality applies to our finances as well.  Instead of trying to get rich quick, accept your present reality and take responsibility for how you got to this point.  Appreciate each day as a gift from God and use this time to get serious and improve your economic woes.  Set concrete goals with target dates.

One state lottery system asks us to Give Our Dreams a Chance. I say Don’t Gamble Your Dreams Away.  Implement the dfree strategy now.

God bless,

DeForest B. Soaries, Jr.

Posted in Blog, News, Pastor's Corner |

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Pastor’s Corner – Relief for Oklahoma City

Thursday, May 23rd, 2013
Dear First Baptist Church Family,

We’ve all seen the heartbreaking images of destruction and devastation from recent tornadoes in and around Oklahoma City, Oklahoma. The loss of life, homes and possessions is unimaginable. I was encouraged to see several people make bold statements of faith even in the midst of despair. It seems that many Oklahomans know that God is faithful and He provides comfort and healing in times of storm.

Those with losses must now begin the arduous process of putting their lives back together. That of course, means contacting insurance companies and FEMA for assistance. Although we are very thankful for those options, we know that in some cases, additional help is needed. As was the case after disasters in New Orleans, Haiti, and on the East Coast, the First Baptist Church of Lincoln Gardens (FBCLG) Community stands ready to help.

In the next few weeks, we will call for those that can and are willing, to donate to a fund targeted for Oklahoma Tornado victims. If you or any of your relatives have been impacted by the tornadoes in Oklahoma and have needs that are not covered by insurance or FEMA please contact us at okcrelief@fbcsomerset.com or (732) 828-2009 immediately.

Please continue to pray for those affected by this massive storm.

God bless,

DeForest B. Soaries, Jr.

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Financial Freedom Friday (dfree tip of the week 05-10-13)

Friday, May 10th, 2013

Dear Friend,

This weekend, as we celebrate motherhood, I thank God for my wonderful grandmothers, mother, and the mother of my boys, my wife Donna.  So today, it is only fitting that I write about my grandmothers who, in spite of extreme hardships and limitations, always had money!

My father’s mother was a seamstress with a sixth grade education.  Just after she had her sixth child, her husband suffered a stroke and became confined to a wheelchair.  She faced great difficulties, but when she passed at 80 years old, she owned three houses and all were completely free of mortgage debt.

My mother’s mother was a domestic worker – she did housework for wealthy families.  Her husband was an alcoholic, but she too owned her house.  Whenever one of my cousins or I needed money, my grandmother always had cash to assist us.  There were no ATM machines in those days but if we asked Grandma for a few dollars, she would pull out a white handkerchief, (I won’t say from where), and give it us.  If we need more, Grandma would produce her bigger bills from another stash.  Again, I won’t say from where!

I’m amazed that both of my grandmothers did so much with so little income!  They knew how to handle money and of course, neither felt the need to buy new clothes every time the style changed; they did not buy things at the supermarket that they did not need; and neither of them had credit cards.  They both gave money to the church regularly and they owned their own homes.

I decided that if my grandmothers could accomplish what they did with the challenges they faced, then shame on me if I could not do at least as well as they did.  I did not want to be like the servant in Matthew 25:14-28 who was chastised because he did not even think to put money in a bank to earn interest.

As you celebrate mothers and motherhood, read Matthew 25:14-28, thank God for the many mothers who do so much with so little, and pray for strength to make prudent financial decisions.

God bless,

DeForest B. Soaries, Jr.

Posted in News, Pastor's Corner |

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Financial Freedom Friday (dfree tip of the week 05-03-13)

Friday, May 3rd, 2013

Dear Friend,

Mortgage rates remain at near record lows and many homeowners are looking to buy or refinance.  Before you do, please remember the following.

Your ability to secure a mortgage is directly related to your credit worthiness.  If you have credit card debt, revisit the second phase of my book, dfree: Breaking Free from Financial Slavery – Get Control.  Make and start a plan, make power payments and start power savings.  Remember – no debts, no delinquencies, no deficits!

Then, do your homework.  First check your credit report.  You should regularly check your report for errors and to help guard against identity theft.  You are entitled to one free credit report annually from each of the nationwide credit reporting companies.  For additional information, visit the following site https://www.annualcreditreport.com/cra/index.jsp.

Know the terms of your loan; shop around. Beware of rates that are low for an “introductory period” because as the rate increases, the mortgage payment skyrockets.  Always demand a full accounting of terms and fees including the application fee, and fees for loan origination, attorney review, closing, and title search.

Most importantly, seek guidance from the one source who can truly guide us to freedom, both spiritually and financially.  Pray for God’s guidance as you pursue this process.

God bless,

DeForest B. Soaries, Jr.

Posted in Pastor's Corner |

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National Day of Prayer – Thurs. May 3, 2013

Wednesday, May 1st, 2013

Dear Friend,

Our nation has recently experienced several tragic events. We have struggled to recover from the ravages of massive weather events and we’ve grieved over the shootings of

innocent children and adults. We have dealt with sinkholes and factory explosions, and we’ve struggled to deal with the realities of a terrorist attack. In the aftermath of these horrible events, we come together to rebuild, heal, and to pray with urgency, that our nation will move closer to God and His principles.

As such, please join me for the National Day of Prayer event on Thursday, May 2, 2013, at First Baptist Church of Lincoln Gardens. This event, hosted by the FBC Prayer Posse, will be held from 11:00 a.m. until 1:00 p.m. On that day, we join people of faith in communities all over these great United States, in prayer and supplication before the Lord.

This year’s theme, Pray for America, focuses on Matthew 12:21, “In His name the nations will put their hope.” First Lady Donna Soaries, First Baptist clergy, and several special guests will lead us as we pray for our government and government leaders, the brave men and women of the armed forces, the business community, families, and more. The program will include special musical presentations and I will be the keynote speaker. If you cannot join us onsite, please join us online. The service will be streamed live on our website, www.fbcsomerset.com.

Refreshments will be served in the Rev. C.H. Brown Fellowship Hall immediately following the event. I hope to see you there.

God bless,

DeForest B. Soaries, Jr.

Posted in Events, News, Pastor's Corner |

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Financial Freedom Friday (dfree tip of the week 04/24/13)

Friday, April 26th, 2013

Dear Friend,

Recently, someone asked me about prepaid debit cards; good or bad, for or against?  My response – I am firmly against them.

Prepaid debit cards can be as bad as credit cards because they are loaded with multiple fees.  According to Bankrate.com, prepaid debit card users are charged a set monthly card fee, (even if the card is not used), and additional fees for services such as paper statements, debit card activation, ATM balance inquiries and more.  Of the pre-paid debit cards that Bankrate surveyed, 21 percent even charged a fee for making a PIN-based point-of-sale purchase.  In other words, you pay a fee for using your own money!

What other options should you consider?  Shop for a bank or credit union credit card with no fees.  Many credit unions offer free-checking accounts with no-fee debit cards.  Do your homework.  Find the card that is right for you.

God provides daily opportunities for us to experience new growth in the handling of our personal finances.  This weekend, read and study Proverbs 14:12, and ask God for the strength to pursue sound financial decisions.

God bless,

DeForest B. Soaries, Jr.

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Financial Freedom Friday (dfree tip of the week 04/19/13)

Friday, April 19th, 2013

Dear Friend,

Several years ago, as our church collected money for families devastated by the effects of Hurricane Katrina, a well-dressed highly educated young professional privately confessed that he sincerely wanted to give to this worthy cause, but he had nothing to give.  Unfortunately, this is true for many; personal debt causes them to miss the blessing of providing help to others.

Giving to others is one of the most life-changing actions that you can take on your financial journey.  It helps maintain the proper perspective on money as a gift from God.  It allows us to stay focused on what matters most, and it forces us to appreciate what we have.

If you desire to help others, but your financial situation will not allow for it, consider the advice that I offered that young man.  Commit to the dfree process.  Work to loosen the chains of financial slavery so that you can make giving to your church, giving to charitable organizations, and giving in the midst of tragedy a priority.

This week, as you remember the victims of the Boston Marathon bombings in your thoughts and prayers, pray that you can be a blessing to others even as you work on yourself.

God bless,

DeForest B. Soaries, Jr.

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Financial Freedom Friday (dfree tip of the week 04/12/2013)

Friday, April 12th, 2013

Dear Friends,

As you know, April 15, 2013, is the day on which individual income tax returns must be submitted to the federal government.  Although it has been said that it takes more intelligence and effort to fill out tax forms than it does to actually make the income, we cannot use that as an excuse to avoid filing.  Failure to pay taxes could force you into a cycle of compounding debt and in extreme cases – incarceration, as has been the case for several well-known entertainers.

What should you do if you find that you do not have the money to pay your taxes?  Per www.irs.gov, file anyway!  File on time and pay as much as you can.  The IRS will sometimes work with taxpayers to establish payment plans and agreements if requested.

What should you do if you have not filed in while?  Again, per irs.gov, “filing a past due return may not be as difficult as you think.  Taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan”.

In Romans 13:1-6, Paul reminded Christians to submit to governing authorities.  Read that section of scripture and pray strength to do the right thing.

God bless,

DeForest B. Soaries, Jr.

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Financial Freedom Friday (dfree tip of the week 04/05/13)

Friday, April 5th, 2013

Dear Friend,

Two weeks ago, the Center for Responsible Lending published a report that contained a startling statistic – one of every four payday borrowers is a senior citizen receiving Social Security!

Like many vulnerable borrowers, senior citizens are easily tricked into accepting short-term balloon loans from reputable banks. These payday loans, (often marketed under different names), carry average percentage rates of 225 to 300 percent!  Seniors borrow to meet short-term needs such as emergency home repairs, assistance for their children,  or immediate medical situations, and they become trapped in a long-term cycle of debt.

These predatory lenders bring to mind the moneychangers mentioned in the Bible (Matthew 12:21).  Many state legislatures are working to “cast them out”; but until that occurs, you must become informed and knowledgeable about predatory lending, and you must be financially prepared for emergencies.

This weekend, read Matthew 25:1-13; ask God for discernment and the strength to be prepared for the unexpected.

God bless,

DeForest B. Soaries, Jr.

Posted in Pastor's Corner |

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Financial Freedom Friday (dfree tip of the week 03/29/13)

Friday, March 29th, 2013

Dear Friend,

This weekend, as we observe the crucifixion and resurrection of Christ, and thank God for sacrificing his Son for us, I want to challenge you to give to others. For 10 weeks now, I have challenged you to improve your financial health. Now that you have been helped with your financial journey, it is time for you to help someone else with theirs. The best way to sustain your own progress is to share what you have learned.

Look at Harriet Tubman.  As an escaped slave, she made 13 missions to rescue more than 70 slaves using a network of antislavery activists and safe houses known as the Underground Railroad.  She was a role model for people who manage to break free.  Her actions suggest that we are not truly free until we help others find freedom.

I’m not asking that you execute some huge act.  Make it simple.  Share your dfree experience with others or suggest that they join the dfree Billion Dollar Challenge.  Make a small donation to someone that may be saving to buy something they really need, or slip a few dollars into the palm of a struggling college student.  And of course, give at least 10% of your income to your favorite religious, educational, or civic organization.

This weekend, read Luke 23:26 through Luke 24:53, thank God for his sacrifice, and pray for the opportunity to help someone else.

God bless,

DeForest B. Soaries, Jr.

Posted in Pastor's Corner |

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