These days, the subprime mortgage crisis is affecting even the house of God. Members of the congregation at Cornerstone, a self-described progressive Christian church on 17th Street, are seeking relief from economic unrest through biblical finance classes.
Using a curriculum set forth by Crown Financial Ministries, an interdenominational organization that teaches financial principles according to the Bible, Cornerstone’s free classes teach people, “how God views money, credit and debt,” according to Pastor Kyung Kim.
“People come to understand the biblical concepts, as well as more practical aspects of how to handle retirement plans, pay off credit debt and make investments.”
The 90-minute course became so popular two years ago that Cornerstone expanded a one-day financial seminar into a seven-week course. Three weeks in, enrollment is up to 30 students, Kim said.
Kim declined to permit a visitor to observe the class, but said that it incorporates instructional DVDs featuring inspirational speakers like Rick Warren, a pastor and author of “A Purpose Driven Life.”
Warren’s introduction juxtaposes cultural and biblical paradigms of financial management. While the world prioritizes personal enjoyment of wealth, Warren says God prefers a model of giving, saving and repaying debt.
“Everything you have is a gift from God,” Warren says in the DVD. “God really isn’t interested in watching you fulfill your dream for your life; he wants you to fulfill his dream for your life—the reason he put you on this planet.”
Though participants come from diverse financial backgrounds—some students make six-figure salaries while others live in shelters, according to Kim—all express concern about debt.
“It’s kind of crazy,” said Viva Chan, who took the course last year and now helps facilitate lessons. “We’re in really bad shape; we’re in a mess in this country.”
Chan, who works in the insurance industry, enrolled in the class to better control her finances. Homework designed to raise spending-habit awareness encouraged individual accountability, she said.
The curriculum workbook stresses conservative spending, pointing to the Gospel of Luke: “If you are untrustworthy about worldly wealth, who will trust you with the true riches of heaven? (16:11)” And from the First Book of Timothy, it advises: “Tell them to use their money to do good… by doing this they will be storing up real treasure for themselves in heaven—it’s the only safe investment for eternity (6:18a).”
Through weekly assignments, students prepare budgets, keep transaction logs and write goals to practice living within their incomes. The class is free and open to the congregation.
“I realized how serious an issue debt is,” Chan said. “It’s a form of—you become a servant to the creditor; you’re being robbed in a way, paying expensive interest rates.”
Through practical budgeting, Chan managed to pay off her Honda early.
Crown Financial Ministry classes are taught internationally, according to its Web site. Citywide, eight churches teach from the curriculum. Crown also teaches workshops privately for a fee.
Kim said Cornerstone has about 800 members in its congregation, though weekend services often attract upwards of 1,400 people.
Though Cornerstone has no tithing requirements for its congregation, Kim said the church accepts the typical 10 percent donation, for members who can afford it.
“Money has kind of a stigma,” said Kim. “Some churches put too much of an emphasis on it, others none at all… There’s a lot of mystery and misunderstanding about money in the Bible. This course is about setting the record straight.”
The Bible mentions money 2,350 times, and nearly half the parables in the Bible are about money, Warren says in the DVD’s introduction.
“You’ve probably been feeling an economic crunch,” Warren says. “Fifty-six percent of all divorces are the result of financial pressure…The good news is there’s help…God has given us clear financial rules.”
Those include living charitably, saving money, and spending within one’s means.
“The curriculum teaches being on the right side of compounding interest,” Kim said.