aims to offer the most compelling biblically-based content to Christians on their walk with Jesus. is your online destination for all areas of Christian Living – faith, family, fun, and community. Each category is further divided into areas important to you and your Christian faith including Bible study, daily devotions, marriage, parenting, movie reviews, music, news, and more.

Christian Financial Advice and Biblical Stewardship

Financial Advisor: Americans Spending More Than the Last Dollar

  • Ed Thomas Agape Press
  • 2007 16 Feb
Financial Advisor: Americans Spending More Than the Last Dollar

A Christian investment expert says it's no secret why Americans' personal savings rate has dipped to a 74 year low.  Many households, he says, are caught in a mindset that has members spending income they need to be saving, to keep up with the rising cost of the lifestyle to which they're accustomed.

The Commerce Department's figures for 2006 on Americans' personal savings rate -- the amount of disposable income left after taxes and spending each month -- are at a -1%, the lowest since the Great Depression.  According to National Christian Financial Advisors co-founder Hakeem Webb, that means they're spending more than they make and then some.

"At the end of the day, people do not have enough money to save," he bluntly observes.  "What I'm finding out is that people are living beyond their means."  And that means people are using credit cards and other credit resources to pay for gasoline, food, utilities, travel, and the rising cost of living for necessities just to keep up with their accustomed lifestyle.

The result, he contends, is that America has become not only a "debtor country," but a "debtor nation within the ranks of the households as well."

Webb, senior investment advisor for NCFA, says that is happening because consumers are trapped in a cultural "sales psychology" that has them keeping up with techno toys and luxury auto and recreation items, as well as spending more than necessary on daily needs, for the lifestyle they have had before.  It's a mindset that he says needs to change.

"The best thing to do to increase your savings is to evaluate your spending habits," the financial advisor counsels.  As much as possible, he says that means diverting spendable income to savings instead of buying goods and services that do not provide for the future.

(c) Agape Press. Used with permission. All rights reserved.

National Christian Financial Advisors (