Gods Word, Money, and You

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Gods Word,Money, and You

• Release From Servitude / Introduction to Planning
• Session 6

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Financial Freedom

• It is the blessing of the LORD that makes rich,
  And He adds no sorrow to it.
• Proverbs 1022

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Steps to Financial Freedom

• Transfer OwnershipHe who trusts in his riches
  will fall,But the righteous will flourish like
  the green leaf.
• Proverbs 1128
• Accept Gods DirectionTrust in the LORD with all
  your heartAnd do not lean on your own
  understanding.In all your ways acknowledge
  Him,And He will make your paths straight.
• Proverbs 35-6

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Steps to Financial Freedom (cont)

• Establish the Right Balance
• Unless the LORD builds the house,
• They labor in vain who build it
• Unless the LORD guards the city,
• The watchman keeps awake in vain.
• It is vain for you to rise up early,
• To retire late,
• To eat the bread of painful labors
• For He gives to His beloved even in his sleep.
• Psalms 1271-2

God ? Spouse ? Children ? Work
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Steps to Financial Freedom (cont)

• Get Out of Debt
• Setup a Debt Reduction Plan
• Faithfully Pay Off Debts (Using Your Plan)
• Evaluate Every Purchase
• Use a Written Plan (Budget)
• Buy On a Cash Basis Only
• Save Money Regularly

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Planning

• Short Range - Budget
• Long Range - Goals

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Short Range Planning Goals

• Develop Gods Plan for YouCommit your works to
  the LORDAnd your plans will be established.
• Proverbs 163
• Balance
• ComplacencyThe soul of the sluggard craves and
  gets nothing,But the soul of the diligent is
  made fat.
• Proverbs 134
• OverconfidenceDo not boast about tomorrow,For
  you do not know what a day may bring forth.
• Proverbs 271

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Short Range Planning Goals (cont)

• Surrender Total Control to GodAnd He was saying
  to them all, "If anyone wishes to come after Me,
  he must deny himself, and take up his cross daily
  and follow Me.
• Luke 923
• Eliminate Consumer DebtTake his garment when he
  becomes surety for a strangerAnd for
  foreigners, hold him in pledge.
• Proverbs 2016
• Give Gods Portion FirstHonor the LORD from your
  wealthAnd from the first of all your produce
• Proverbs 39

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Long Range Planning Goals

• A Reasonable Life StyleMake sure that your
  character is free from the love of money, being
  content with what you have for He Himself has
  said, "I WILL NEVER DESERT YOU, NOR WILL I EVER
  FORSAKE YOU,"
• Hebrews 135
• Total Debt EliminationThe rich rules over the
  poor, And the borrower becomes the lender's
  slave.
• Proverbs 227
• Education / Career GoalsDo you see a man skilled
  in his work?He will stand before kingsHe will
  not stand before obscure men.
• Proverbs 2229

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Long Range Planning Goals (cont)

• RetirementGo to the ant, O sluggard, Observe
  her ways and be wise,
• Proverbs 66
• InheritanceHere for this third time I am ready
  to come to you, and I will not be a burden to
  you for I do not seek what is yours, but you
  for children are not responsible to save up for
  their parents, but parents for their children.
• 2 Corinthians 1214

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Long Range Planning

• Debt-Free Status
• Adequate Emergency Plan
• Risk Management Plan
• Retirement Plan
• Inheritance Plan
• Other Goals
• Education Fund
• Missions Fund
• . . .

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Insurance

• But if anyone does not provide for his own, and
  especially for those of his household, he has
  denied the faith and is worse than an unbeliever.
• 1 Timothy 58

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Insurance

• Homeowners / Renters
• Auto
• Health
• Disability
• Life - Term
• Long Term Care

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Life Insurance Needs Worksheet
50,000
5,000
45,000
15,000
30,000
300,000
100,000
400,000
0
400,000
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Insurance to Avoid

• Cash Value Policies
• Double Indemnity
• ADD
• Premium Waivers
• Mortgage Life Insurance
• Credit Life Disability Insurance
• Prepaid Burial Policies
• Cancer Insurance
• Extended Warranties
• Duplicate Coverage
• Too Much Insurance

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Homework

• HTMYM - Chapter 6
• FFW - Chapters 5 6
• Family Needs Categories
• Housing
• Food
• Automotive
• Insurance
• Entertainment Recreation
• Clothing
• Savings
• Medical
• Miscellaneous
• School / Child Care
• Investments

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Did You Know . . .
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Benefits of Delayed Gratification
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Comments / Questions?