G181 (Distance Learning Course) 3 Credit Hours
Atlanta Bible College
David Krogh, Instructor
Information for Course:
The student will need a VCR and TV and a computer with Internet and e-mail
capabilities in order to take this course. Instructions are given for each session below.
Read the appropriate material, watch videos and fill in workbook sheets while watching
the video and after watching the video. Use indicated websites to gain additional
information and to complete assignments. E-mail answers to the instructor as indicated.
The mid term and final exam will need to be taken at the college at the appropriate time,
or someone can be designated as a proctor to administer the exam in your area, under the
direction of the instructor.
Session 1 – read the following material below to gain an overview of this course and then
continue with the first assignment.
TEXTBOOKS AND COURSE MATERIALS:
⋅ How Money Works; Primerica Financial Service, 2001
- Master Your Money by Ron Blue; Walk Thru the Bible Ministries, Inc., 1990
- Kiplinger’s Practical Guide to Your Money; The Kiplinger Washington Editors,
Inc., 2002, by Ted Miller.
⋅ Readings from the following magazines: Kiplinger Personal Finance; Business
Week; Money; Mutual Funds; Consumer Reports (available in your local
library or they can be purchased at a book store.)
⋅ Websites – http://money.cnn.com – Money 101 section; and other sites
⋅ Supplemental material in notebook
This course centers on the basic concepts of personal financial planning. Special
emphasis is placed upon Biblical principles of financial management. It includes topics
of personal financial goal setting, taxes, money and credit management, insurance, home
purchase, investments, spending priorities, and estate planning. There is a brief overview
of issues related to church finances: budgeting, fund raising, risk management, IRS
forms, and tax issues pertaining to a pastor.
Each session will average from 90 to 120 minutes (a campus course would include
classroom instruction for 50 minutes for each class period with 40 to 70 minutes of
TERMINAL COURSE OBJECTIVES:
1. To learn Biblical principles of managing personal finances.
2. To learn specifics of investments, spending priorities, use of credit, and coordination
of financial planning.
3. To learn how to file a tax return to manage and minimize tax liabilities.
4. Become aware of resources which can be used to teach Biblical stewardship.
5. Learn how to use the Internet to secure financial information.
6. Become familiar with sources of financial information – newspapers, magazines,
radio and TV.
7. Identify and evaluate insurance requirements, including life, health, disability,
property, and liability insurance.
8. Based on financial planning tools encompassed in the course, prepare a personal
OVERVIEW OF ASSIGNMENTS
1. Readings from textbooks and handouts.
2. Workbook will be read and blanks filled in.
a. A two or more page typewritten paper contrasting God’s financial principles
with man’s financial principles.
b. A one page typed report based on research of one product which the student
may plan to buy in the next year using Consumer Reports or Kiplinger’s
Personal Finance Magazine to determine which brand is the best buy.
c. A two page typed paper on tithing, mentioning Bible texts that talk about
tithing and discussing whether these passages apply to Christians today.
d. A typed personal financial plan that will include worksheets prepared
throughout the semester for daily assignments. The plan will include an
assessment of your current financial situation; your budget; goals for the
future; and recommendations on how to achieve the goals. If you prefer to
keep your financial matters confidential, you may use fictitious numbers as
you prepare the financial plan, provided that the numbers used are logical and
contribute to a well developed plan.
4. Students will monitor radio and TV news, newspapers, and magazines, for current
financial news, including the major stock indexes. A short paragraph of this
information will be typed for the instructor – one for each session.
5. Each week on Friday, students will look up the closing value from the previous day
for the following:
Dow-Jones Industrial Average
S & P 500
Mutual Funds – American Funds – Washington Mutual A
Mutual Funds – Janus Worldwide
This information will be for the close of the markets on Thursday afternoon. This
information is found in the business section of the newspaper or on the Internet at
http://money.cnn.com or at www.kiplinger.com. Record the results on a spread sheet
and record this information each week while doing the course. Print out the spread
sheet at the end of the course for the instructor. (For an example of the numbers to be
selected, see the sample pages following Handout 1.)
6. Students will use the Internet to secure other financial information. A primary
website is http://money.cnn.com You will be asked to use the Money 101 section for
many lessons. As you use each section, read through each article. At the bottom of
the article, click on the next article, and work your way through the end and take the
test. Print out the test.
7. Students will read 15 articles over the time period of the course from Kiplinger’s
Personal Finance, Business Week, Money, Mutual Funds, or other finance magazines.
A two paragraph summary of the article (including the name of the magazine and the
title of the article) will be word processed, printed out, and included in your notebook
(see #10 below) and mailed to the instructor.
8. Several quizzes will be given in addition to the mid-term and final exams.
9. Answers to case studies will be type and printed.
10. At the mid point and end of the course, you will submit a notebook to the instructor
containing all of your work up to that point to be graded.
Instructions for All Written Assignments:
On each written assignment, be sure to include your name, the session number that this
assignment pertains to, and the date. As you file the assignments in your notebook, put
them in order so the instructor can grade the papers in sequence.
Reading/Reporting on Magazine Articles 15%
4 Papers 20%
Internet Assignments 15%
Mid Term 25%
Final Exam 25%
Session 1 Introduction to Course
Read the following scriptures and type a one or two sentence
summary of each verse (number your summaries the same as the
1. Danger in riches and poverty: Proverbs 30:7-9
2. Proper attitudes toward wealth:
a. 2 Peter 3:10, 11
b. Matt. 6:19-21
c. Prov. 11:28
d. Psalm 50:10
3. Message of Jesus: (type answers to all of the questions below)
a. Luke 12:13-21
1.) What is the setting for this parable (v. 13)?
2.) What was Jesus’ reply? (v. 14)?
3.) What is the vital teaching of Jesus in v. 15?
4.) How do Jesus’ words contrast with the values of
our world today?
5.) How would you characterize the man in the
6.) How does James 4:13-16 relate to this man?
7.) How does Jesus summarize his parable? (v. 21)
b. Matt. 13:22
c. 1 Tim. 6:17-19 – list all the things that rich people are
not to do and the things they should do
d. Malachi 3:7-12
Session 2 Look at Handout 1 to discover what the Dow, Nasdaq , S & P 500, and
Wilshire 5000 Indexes are. Log on to http://money.cnn.com and click on
“Markets and Stocks” and then click on “Dow 30” to see a list of the 30
stocks in the Dow. Are these companies familiar to you? Print out the
list. Start your log (mentioned in #5 under “Overview of Assignments”).
Look at Handout 2 to learn about inflation. Use the following website to
look up and print out the consumer price index for 1970 to the present:
This table shows how much the cost of living has gone up each year.
Write down the Dec. to Dec. increase for the following years: 1970, 1980,
1990, 2000, and 2002
Log on to http://woodrow.mpls.frb.fed.us/
Click on “inflation calculator.” Put in your year of birth and $1.00 and
then enter the current year and see what $1.00 worth of goods and services
that cost $1.00 when you were born, costs today. Write down the answer
and e-mail it to your instructor. Read the rest of the page about the CPI.
Then click on “Consumer Price Index and Inflation Rates, 1913-“ Write
down your year of birth and then write down the rate of inflation for your
year of birth. Write down the CPI for the current year and write down the
rate of inflation for the current year.
Look at Handout 3 to see how inflation (the increase in the cost of living)
affects you over time.
The Financial Pyramid – see Handout 4
Interest rates – Log on to http://woodrow.mpls.frb.fed.us/
Click on “interest rate charts.”
Print out the short-term interest rate chart and e-mail it to your instructor.
Session 3 Where Are You Now? – Assets, Liabilities, and Net Worth
Master Your Money – Unit 1; Read Kiplinger’s Practical Guide to
Your Money (KPGYM) pp. 3-18
Log on to: www.money.cnn.com
Click on calculators; under “Savings and Spending” click on
“What’s Your Net Worth?” Fill out and print out page.
Be sure to memorize the chart on page 16 – including the 4 steps in
the financial planning process:
1. Summarize Present Position
2. Establish Financial Goals
3. Increase Cash Flow Margin
4. Control Cash Flow
And the 5 ways you can use your income:
3. Debt Repayment
4. Living Expenses
5. Cash Flow Margin (or savings)
And the growth in net worth (savings and appreciation of assets)
that enables you to reach long range objectives such as:
1. Financial Independence (able to support yourself in retirement)
2. College for your children or yourself
3. Giving – special major gifts
4. Lifestyle desires
5. Pay off debts
6. Start own business
Session 4 Compounding
Master Your Money – Unit 2
Log on to: www.money.cnn.com
Click on calculators; under “Savings and Spending” click on
“Quick Savings Calculator.” Plug in 0 for initial deposit; 7%
interest per year; and $100 per month; put in the number of years
until you reach age 66. Find out how much your savings will grow
to. Print out this page.
Log on to http://kiplinger.com
Click on “Tools” on the left – at the bottom under “Your Finances”
click on “More Your Finances Tools.” Under credit and banking,
click on “How Much Will My Savings be Worth?” Do calculation
using this information: amount invested 0; rate you can earn 8%;
additional monthly deposits $100; years: 45; federal tax rate: 15;
state tax rate 6%; inflation 3%. What will your investment be
worth tax deferred?; how much if you pay taxes on the interest
earned? Change the amount of monthly deposits to $200. What
will your investment be worth tax deferred; how much if you pay
taxes on interest?
Log on to www.gefn.com
Click on GE Credit Cards; list 5 or more benefits of getting this
credit card; print out
Log on to www.eyeoncredit.com
List 2 low APR credit cards
List 2 cash credit cards
Click on www.auto-buying-
Read – “Five Reasons to Check Your Credit Report Regularly.”
List two of the five reasons given. Print out the article.
Log on to www.crown.org
Click on “links” and then on “online tools” and then on “Credit
Card Minimum Payment Calculator.” Assume you owe $10,000 at
18% interest. How many payments will you need to make if you
only make the minimum payment? What will your first month’s
payment be? How much will you have to pay to pay off the
$10,000 plus interest? If you were to keep paying the first month’s
payment each month, how many payments would it take to pay off
this loan? How much would you save in interest if you pay the
same amount every month?
Session 5 Planning for Your Financial Future – Goal Setting
Master Your Money – Unit 3
Log on to http://money.cnn.com – click on Money 101 – select
“Setting Priorities.” Read through all the pages including the links
at the bottom of each page and do the exercise on setting your own
long range goals and prioritizing them.
Session 6 Finding Money You Never Knew You Had
Master Your Money – Unit 4; Read KPGYM pp. 29-54
Log on to Money 101 website – click on “Controlling Debt.” At
the bottom of each article, click to continue until you reach the
calculator that shows how deep your debt is. Fill out the form and
Session 7 Managing Your Cash Flow
Master Your Money – Unit 5
Log on to Money 101 – Making a Budget
Handout 5 – Prepare a financial plan similar to handout, using
computer disk containing an Excel spreadsheet provided by
Session 8 Don't Miss the Miracle
Master Your Money – Unit 6
Session 9 Prepare Paper on Tithing – print out
Session 10 How to save on taxes
Log on to Money 101 – Taxes
IRA, 403(b), 401(k) – Read “How Money Works” pp. 28-32
Flexible Benefit Plan – read Handout 6
Schedule A deductions – read Handout 7
For pastors - Parsonage allowance - read Handout 8 - chapter 2 in
Worth’s Income Tax for Ministers
Session 11 Taxes – Log on to www.kiplinger.com
Click on “Your Finances” on the left side of the screen; and
then click on taxes in the drop down menu; read the
What the New Tax Cuts Mean to You
After reading the above article go back one page and under
“Getting Started” click on “More.” Under Taxes, read the
Avoid These Tax Headaches
Surviving an Audit
Taking the Pain Out of Next Year’s Taxes
Session 12 Read "How Money Works" pp. 1-26
Session 13 Read "How Money Works" pp. 33-44
Session 14 Prepare paper on a product; print out; review for mid term – see Handout 9
Session 15 Mid Term Exam
Session 16 Banking – read KPGYM pp. 55-66
Log on to Money 101 – Basics of Banking
Session 17 Housing – read KPGYM pp. 67-142
Log on to Money 101 – Buying a Home; and Home Insurance
Log on to www.Kiplinger.com
Click on Tools – Help for Home Buyers; find out how much your
payments will be – plug in numbers that you think are appropriate;
print out. Search for mortgage rates in our area; print out. Do the
“How Much Can You Borrow” work sheet; print out.
To learn more about homeowners insurance, log on to
www.Insure.com and on the right side of the home page near by
the bottom, click on 12 ways to save on your homeowners
Session 18 Cars and Insurance – read KPGYM pp 161-184
Log on to Money 101 – Buying a Car
Session 19 Life Insurance - read KPGYM pp. 263-288
Log on to Money 101 – Life Insurance
Log on to www.insure.com
Find the following information:
1. The cost of $150,000 of life insurance on yourself
2. Print out the top 25 companies with the lowest cost insurance
for the policy on yourself.
Review Handout 10 – worksheet – determining the need for life
Session 20 Health Insurance and Insurance You Don’t Need - read KPGYM pp.
289-326; Log on to Money 101 – Health Insurance
Session 21 Paper on God’s Financial Principles vs. Man’s
Session 22 Investing - read KPGYM pp. 327-390
Log on to Money 101 – Basics of Investing
Session 23 Investing - read KPGYM pp. 391-426
Log on to Money 101 – Asset Allocation
Session 24 Retirement - read KPGYM pp. 449-492
Log on to Money 101 – Retirement Planning
Session 25 Estate Planning and Wills - read KPGYM pp. 493-507
Log on to Money 101 – Estate Planning
Review brochures regarding wills and being an executor
Death of the Estate Tax – Handout 11
Session 26 Bankruptcy – Is It Biblical? – Handout 12
Session 27 Church Finances – Tax forms and filing requirements – Handout 13
Session 28 Church Finances – Budgeting – Handout 14
Session 29 Church Finances – Risk Management – Handout 15 – position description
for a church treasurer.
Handout 16 – Read “Stunned by an Inside Job.” Particularly notice the 6
steps the church took to insure financial integrity.
Handout 17 – Additional Ideas on Managing Church Risk
Review Handout 18 that gives information about the financial plan you are
prepare for session 30
Session 30 Prepare and submit your Financial Plan; Handout 19 – a review for final
Session 31 Final Exam; also give a brief written comparison of the values of the
Dow, Nasdaq, S & P 500, Washington Mutual A, Janus Worldwide, and
IBM from the beginning of the course and the end of the course. Was the
trend up or down? Did all of the numbers move in the same direction?
About the Developer of the Course:
David Krogh is a graduate of Oregon Bible College (now Atlanta Bible College). He
also graduated from Davenport College of Business and then earned a Master of Business
Administration degree from Keller Graduate School of Management.
David served as a pastor in Grand Rapids, MI and as interim pastor of several churches:
Flagg Center Community Church, Flagg Center, IL; Blessed Hope Bible Church,
Rockford, IL; and East Oregon Chapel, East Oregon, IL.
He became an employee of the Church of God General Conference and Oregon Bible
College in 1972. He served in various administrative positions in the Conference and
College. Eventually he was appointed President of the Bible College and the Conference,
a position he held for 16 years. In 2001 he completed his work as President and now is
Recruiter and Registrar for Atlanta Bible College. He also is a Financial Advisor for the
General Conference offering financial and tax consultation for pastors and churches. He
teaches several courses at the college and also conducts financial seminars around the
He is active in a number of organizations. He is a member of the Board of Trustees of
the Ministers Voluntary Retirement Association and Treasurer of the Investment Fund.
He is the Treasurer for Proclaiming Christ, Inc., a religious charitable foundation. He is
secretary of the Lord’s Harvest International Mission Board. He has visited several
mission fields, including mission trips to Peru, Mexico, Haiti, and Thailand. He also
serves as an occasional volunteer on weekends and during the summer at Camp Timber
Ridge, a Girl Scout camp in Mableton, GA.
He and his wife Lynne helped start the New Friends Bible Church in Morrow, Georgia in
1991. In 1994, they were part of the core group that started the Cornerstone Bible
Church in McDonough, GA. David is currently an elder and the Business Administrator
for the Cornerstone Church. He is also a financial consultant to the Simple Teachings
Bible Church that recently started in Hampton, GA.
He is married to Lynne Knapp Krogh who is the full time director of Camp Timber
Ridge, a Girl Scout Camp near Mableton, GA. David and Lynne have two children,
Peter, an Atlanta attorney, and Carrie (Jerry) Briggs, a college student and restaurant
The instructor can be reached at email@example.com or by phone at the office
404-362-0052 or his office direct line 678-553-4964, or home at 770-603-7506. Please
contact him to clarify assignments or with questions about readings or other assignments.