There's no getting around it. Alan Greenspan has called it a "Once in a century credit tsunami." It dominates the news.

We all know the headlines:

. A volatile Stock Market

. Families facing foreclosure

. Runaway inflation

. Bankruptcies more than doubling

. Household credit card debt nearing $10,000

. Savings dropping dramatically

. Divorces at an all time high - with two-thirds of American women citing "financial strain" as a major threat to the family

. American Catholics giving less than 2% of their income to charity

 Despite these alarming economic trends - there is hope. There is a sure way for the faithful to get on solid ground financially. Veritas Financial Ministries provides that hope by teaching people common sense, faith-based principles for managing their money. But we need your help to spread this life-changing teaching during 2009.
          
For some time, America has been on a spending binge looking for happiness. People are looking to the material world to fill a void within their hearts. But instead of finding happiness, they find themselves financially broke and in broken relationships. I'm reminded of the famous quote from St. Augustine: "Our hearts are restless, O Lord, until they rest in you."

People are tired of "keeping up with the Jones's."  They yearn to understand the deeper purpose of their lives that St. Augustine speaks of. Solid, Catholic teaching on becoming a Steward of Providence fills that void!

Today people are seeking real answers to the problems they face. The current financial crisis offers an important opportunity for us to educate an entire generation about how to become truly financially free.

At Veritas Financial Ministries, we are slowly turning the tide of financial, personal, and spiritual brokenness. We are working to change thousands of lives each year - one life, one family at a time. As we do so, we steadily develop a "Culture of Stewardship" that will impact not only this generation, but future generations as well.

In a moment, I'll share with you the important work we completed in 2008. Of course, we'll do even more of that great work in 2009. But, before I share about that, let me tell you about a major project that is near to my heart that we will be pouring our resources and energy into during the coming year.

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Veritas is working hard to develop a comprehensive, Catholic financial course for young adults. The program will be designed as a curriculum supplement for high school students. It will also be very effective for college level students in parish young adult groups and Newman centers, and it will include materials for marriage preparation programs.

Everywhere I go, people say, "Phil, when are you going to develop a program for our teens and young adults?" One of the most common responses we receive from our adult small group study participants is, "We sure could have used this twenty years ago!"

This program will cover all of the topics our young adults need to hear about managing money, including earning, giving, saving, spending, debt, and investing. They'll learn keys to managing money in the context of marriage and family life. Most important, they'll learn the role God has given them to manage his resources as a Steward of Providence. 

It will include both compelling video and engaging exercises to leave a lasting impression that will influence their future choices. 

I'm excited about this ground breaking project for our young people. But I'm also excited about the many achievements Veritas has made during 2008 and our expectations for 2009. And please accept my deep thanks. It is because of your prayers and financial support that we have accomplished so much over the past year.

Here is an overview of our ministry's many important works. And remember, we need your renewed commitment if we are to continue offering these crucial programs in 2009.

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Experience shows that people who complete the 7 Steps small group study make significant progress in many different aspects of their lives, including:

. Growing in Generosity
. Eliminating Debt
. Saving for the Future
. Enhancing Their Marriage and Family Life
. Deepening Their Relationship with God

There is something unique about the small group format that provides the "glue" needed to make the lessons stick. Participants share discussion topics based on Scripture and the Catechism; they grapple with what these topics really mean in their personal lives; and they learn empowering financial management techniques at the same time. In this way, Godly habits are formed which last a lifetime.

During 2008, nearly 5,000 people used the 7 Steps materials in either small group settings or other venues. Just listen to what a few of them had to say about their experience:

Answers the Tough
Questions We're Facing Today

"Especially timely as we see the impact of foreclosures and the ripple effect of high gas prices. Answers the questions, 'What should I be doing?' and 'How do I do it?'" - N.C.

We Needed This Program 30 Years Ago

"We've been married 30 plus years and have never had a budget before. I must have said 20 times to myself, 'Where was this guy Phil 30 years ago?'" - R.C.

God Owns Everything

"It made me realize that God really owns everything we have - it makes giving much easier and more meaningful." - R.P.

 We are Facing Our Problems
Rather Than Blaming Each Other

"For the first time in our 20 years of marriage, my husband and I are being honest about our financial situation and attempting to do something about it. We talk more openly about our finances and are facing our problems together rather than blaming each other."  - T.D.

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If there are to be effective small groups, parishes need effective small group leaders. To that end, we brought Leader Training and/or 7 Steps Seminars to the following Catholic communities during 2008:

. St. Joseph's Catholic Church - Augusta, GA
. Diocese of Colorado Springs
. Holy Trinity Parish - Lenexa, KS
. Most Pure Heart of Mary Parish - Topeka, KS
. San Ignacio de Loyola Church - Rio Piedras, Puerto Rico
. Our Lady of Lourdes Parish - Columbia, MO
. Diocese of Omaha, NE
. Diocese of Cincinnati, OH
. St. Peter's Catholic Church - Elizabethtown, PA
. St. Vincent's Catholic Church - Fort Wayne, IN
. Diocese of Birmingham, AL
. St. Peter, Prince of the Apostles Parish - Corpus Christi, TX
. Diocese of Kansas City - St. Joseph
. Blessed Sacrament Parish - Hibbing, MN

These leader training sessions equip new leaders with the confidence they need to guide their own small group study and are a great vehicle for launching the program within a community. Here are comments from people who have attended Veritas Leader Training:

Informative, Inspiring, Motivational!

"Very helpful, informative, inspiring, and motivational! Great overview - and the step by step training gave us a complete picture of the program."- L.R. 

Very Well Run.
I Learned So Much In Such A Short Time!

"This was very well run and on time - I learned so much in such a short time! Meeting new people was also great. However, what I really loved was increasing my faith. the Bible quotes were exceptional! I gained a real understanding of how this program can affect my life as well as others in my parish. These small groups are very effective. This is not just for people in trouble."- T.J. B. 

During 2009, we expect to be at least as busy with Leader Training and seminars as we were in 2008.

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Our website continues to be a source of vital information, practical tools, and inspiration that help visitors grow in their faith, and their ability to manage their resources as Stewards of Providence.

Over 6,000 members of My Veritas Plan use the free tools provided to develop an effective financial plan for their future. Here are just a few of the reasons why:

They're So Much Easier

"I found the online tools very helpful. Setting a monthly budget and tracking my spending is so much easier."- N.C.

Gave Us Incentive and Discipline

"Gave us more incentive and the discipline to do a budget."- L.D.
           
Now I See My Spending Norms

"Made me much more aware of where my money goes. It's also interesting to see the spending norms."- B.D.

My Veritas Plan members also receive Phil's monthly updates which explain the timeless wisdom found in Church teaching and help members apply these principles effectively in our rapidly changing economy.

In addition to My Veritas Plan, we provide a Faith and Finance Forum through the largest Catholic discussion forum in the world at forums.catholic.com, where 103,000 registered members and many more visitors are able to share ideas on how they can be more effective stewards.

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I have the privilege of being a regular guest on a number of popular Catholic radio programs on the EWTN, Relevant, and Sirius radio networks, as well as being a regular contributor to the Our Sunday Visitor and National Catholic Register newspapers.

In addition, appearances on EWTN television, including EWTN Live, Bookmark, and Franciscan University Presents have provided extraordinary opportunities to reach a broad audience, including leaders in the Church.

Here is one comment from a parish coordinator of religious education after seeing EWTN Live:

"I saw you on the EWTN Program with Fr. Mitch and found the subject fascinating. As the coordinator for our parish Religious Education Program, I believe that this topic could help so many of our parishioners live a more Christian life."- P.E., IN

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There are times when people need more guidance than can be provided in the small group setting. I am sure you are familiar with the popular proverb, "Give a man a fish and he eats for a day. Teach a man to fish, and he eats for a lifetime."

Our goal is to educate people to manage their resources based on Catholic principles so they are equipped for the lifetime of responsibilities the Lord has entrusted to them.

Veritas Financial Ministries provides one-on-one counseling using the proven 7 Steps program. Your support helps us provide partial scholarships for those who have serious financial need.

Here is what one young couple from Vermilion, Ohio, had to say about their counseling experience:

       "During our first year using Seven Steps to Becoming Financially Free, we reduced our total debt by $22,000. That's 62% of what we had owed!

       "There is a very good chance that our kids would not have a Mommy and a Daddy in the same home tonight if it was not for the work that the Lord is doing through you. Thank you for reaching out to a totally broke (and broken) family that had nowhere to go."  -David and Katie B., Vermilion, Ohio

While I was pleased they had reduced their debt, I was even more gratified that our efforts led to a stronger marriage and family life!