a periodical from the desk of  Pastor White...

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Get Rid of Murphy...

Volume 4, Issue 8

August 30th, 2005

This title sounds like a harsh statement coming from a Christian publication. No, we do not want to get rid of a person called Murphy, and especially not the one Murphy's Law is named after, but we do want to change this particular law's underlying philosophy as it applies to your finances.

You are probably familiar with the traditional version of Murphy' s Law which states, "Anything that can go wrong, will." When this law is applied to your money management, it simply means that when one financial crisis happens, two, three or more additional monetary calami­ties are sure to follow in quick succession. The following scenario will illustrate this point.

       Imagine for a moment a beautiful spring day. You wish you didn't have to go to work this morning as the hiking paths and the lakeshore are calling you to come and enjoy the great outdoors. However, because you still have a house mortgage and

a vehicle loan, you decide that going to work is the more sensible choice and you head for your office.

Not to be discouraged, you put on your favorite music CD and are singing joyfully along with the vocalist when suddenly you hear a strange sound coming from your car's engine. You look at the indicators and gauges - no red light, and yet the unusual sound continues from under your hood, so you decide the best course of action is to stop at your local service station and speak to your favorite mechanic. He lifts up the hood and listens carefully to the various sounds coming from your engine, then straightens his back, looks you in the eye and says, "Nothing to worry about, it's only a gasket." With understandable fear you ask the cheap­skate question, "How much will a new gasket cost me?" "Approximately $25," he replies and you let out a financial sigh of relief. However, he then informs you that to replace the gasket he will have to pull out the engine - and that will cost you another $800.

What do most individuals do when faced with an economic emergency of daily living and they need a quick financial fix? You got it - they use the monies they have set aside for tithe or, perhaps, their credit card. Right answer, but wrong solution.

The best way to be prepared is to have a Freedom Account. A Freedom Account is $1,000 that you put away in a liquid account for unexpected economic emergencies ("liquid" meaning you can get your hands on the necessary money immediately or within 24 hours). How do you build your Freedom Account? Simply by scraping together $25 to $50 each month until you have $1,000. It may be hard work, but it is definitely worth the effort. So have a solution to Murphy's Law as it relates to your finances by starting your own Freedom Account at your next payday.

By the way, once you have $1,000 in your Freedom Account, Murphy's Law may work in reverse: After 25 years you begin to pray that the old washing machine and dryer will just hurry up and give out so you can get newer, better models!  (Article by Gordon Botting)