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1 A Practical Workshop In Achieving True Financial Peace & Freedom © 1988, 1995, 1998, 1999, 2001, 2007 R. D. Henry The Generous Heart Of God Budget Workshop.

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Presentation on theme: "1 A Practical Workshop In Achieving True Financial Peace & Freedom © 1988, 1995, 1998, 1999, 2001, 2007 R. D. Henry The Generous Heart Of God Budget Workshop."— Presentation transcript:

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2 1 A Practical Workshop In Achieving True Financial Peace & Freedom © 1988, 1995, 1998, 1999, 2001, 2007 R. D. Henry The Generous Heart Of God Budget Workshop

3 2 Financial Freedom Notebook - Workbook Workbook Contents Goals Net Worth “As Is” Budget Budget Analysis Spending Guidelines Budget Plan Account Sheets Monthly Summary Yearly Summary Impulse List Purchase List Gift List

4 3 3 Steps To Financial Peace & Freedom Where Am I? Where Do I Want To Go And Why? How Do I Get There? Establish Your Current Situation – Spiritually, Financially Earning, Giving Spending, Saving & Investing For Last 12 Months Understand The Generous Heart Of God Set Godly Goals And Priorities Be A Good $$$ Manager Develop 1 Year Budget Plan Follow The Plan Change Habits Adapt Plan Manage Money God’s Way $$ Peace, Freedom Learn & Apply Biblical Relationships & Principles

5 4 What Are Some Symptoms Of Financial Bondage? r Feel Distant From God, Fear, Worry, … r Growing Credit Card Balances r Bounced Check Charges r Late Charges r A Feeling Of Helplessness….. r Depression r Personal, Marital Problems r Excessive Borrowing 2 Pet 2:19b... for a man is a slave to whatever has mastered him. (NIV)

6 5 Divorce The Problem Ignore The Problems Depression Yell About The Problems Avoid The Problems Borrow Your Way Out Of Problems Typical Symptom Treatment

7 6 What Are The Real Problems? r Lack Of Biblical Training, Weak / No Relationship With God … Spiritual, Financial Ignorance r Poor Planning Or No Plan At All r Lack Of Discipline – Knowing Is Not Doing r Deception (Wrong Beliefs) r Greed, Pride, Self Indulgence r Poor Communication

8 7 Learn How To Distinguish Between Symptoms and Problems Symptom Typical Solution Real Problem Excessive Spending, No Saving Borrow More, Consolidate 2nd Job, Work Overtime Spouse Goes To Work Lack Of Planning And Discipline Jealous Of What Others Have Buy More Buy The “Best” I Am What I Own Covetousness Hoarding Stingy, Spend Less Save More Than Needed Fear, Don’t Trust God

9 8  God’s Word Is Living And Active  God’s Word Is Living And Active "For the word of God is living and active. Sharper than any double-edged sword, it penetrates even to dividing soul and spirit, joints and marrow; it judges the thoughts and attitudes of the heart.” (Heb 4:12 NIV) Four Levels Of Maturity  We Are New Creations…This Includes Our Finances  We Are New Creations…This Includes Our Finances "Therefore, if anyone is in Christ, he is a new creation; the old has gone, the new has come!" (2 Cor 5:17 NIV) Infants Children Young Men Fathers 1 Cor 3:1, 1 Jn 2:12-14 Try To Father Level

10 9 What is God’s #1 Concern For Your Finances? "Love the LORD your God with all your heart and with all your soul and with all your strength." (Deu 6:5 NIV) Why??? “For God so loved the world that he gave his only Son … (Jn 3:16 NLT)

11 10 God’s Simple Plan 1. God Owns 1. God Owns 2. I Manage 2. I Manage 3. God Provides 3. God Provides (God’s Generous Heart) (Give, Save, Live)

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13 12 Spiritual Intellectual, Mental Family, Friends Personal Ministry Financial Career, Education Social Recreation, Rest Planning Physical Godly Life Goals

14 13 Goal Planning (Notebook Pg B3) Goal Planning Sheet Category: My Goal: My More Detailed Description of the Goal: How I Will Achieve the Goal: Schedule of When I Will Do Each Step: My Budget: Spiritual Intellectual Physical Family Social Personal Ministries Career Financial Recreation Planning

15 14 Goals Questionaire (Notebook Pg B4, B5) The Purpose for My Life Is: ____________________________________ The Highest Priorities in My Life Are: ___________________________ The Life Purpose For My Family Is: _____________________________ My Greatest Life Achievements Are: ____________________________ The Best Things That Happened the Last Year Were: _____________ The Worst Things That Happened the Last 12 Months Were: _______ Things I Want to Do Differently Are: ___________________________ God’s Goals For Me The Next Year Would Include: _______________ My Three Most Important Goals For The Next Year Are: __________ I Spend Too Much/too Little Time Doing the Following: ____________

16 15 What Does God Want Me To Do Financially?

17 16 Short Range Planning Income, Expense, Saving, And Investment Planning For The Next 12 Months Food Credit Cards Savings, Investing Social Security, Medicare Taxes Giving Income Utilities Medical Transportation Insurance Clothing Hobbies Entertainment, Recreation Food Mortgage New Purchases

18 17 Details Of Short Range Planning How To Get There One Year Plan Budget Analysis What You Spend What You Earn Where You Want To Go Where You Are Book Keeping System Goals, Priorities What You Owe What You “Own” Begin With End In Mind

19 18 We All Need Boundaries Prov 27:12 The prudent see danger and take refuge, but the simple keep going and suffer for it. Shelt Elementary

20 19 What!! Me Budget? What Is The Purpose Of A Budget? To Constrain & Enslave You? Tool For The Husband To Punish The Wife? No!!! Budgeting Is A Simple, Effective Way Of Planning X Our Finances To Achieve Our Goals And Priorities No One Likes Budgeting, But Everyone Likes The Results The Real Purpose Of A Budget Is To: Provide Peace & Freedom And Keep Us Safe

21 20 Where Am I? Assets Minus Liabilites (Debts) = Net Worth Your Net Worth Is The Cash You Would Have If You Sold Everything And Paid Debts, Selling Expenses & Taxes Owed Net Worth Statement What You “Own” Assets Liabilities (Debts) MASTER CARD What You Owe

22 21 Debt List (Notebook Pg C1) Name: ________________ Date: ______________ List Of Debts Owed Total Left Monthly % Amount Of To For To Pay PaymentInterest Balloon Column Totals $ __________ $ ________ Total DebtTotal Payment Monthly List Debts In Order Of Largest To Smallest

23 22 Sample Debt List

24 23 Net Worth Statement (Notebook Pg C2) Value Owe, Taxes, Net Value Costs

25 24 Computing Net Worth Of Each Asset Column 1 Value (What I Can Sell It It For) - This is the amount you could sell the asset (house, car, etc.) for in a reasonable amount of time. Column 2 Owed + Sell Expenses + Taxes - This is the total of the costs to cash out of the asset. Simply add the amount you owe (mortgage e.g.) plus the selling expenses (real estate commission, escrow costs, etc e.g.) plus the taxes you would owe (capital gains tax to the state and federal governments). Column 3 Net Worth - This is the cash value, after paying debts, expenses, taxes on the sale of the asset. Compute by subtracting column 2 from column 1.

26 25 Where Are You? Your “As Is” Budget What You Have Earned, Saved, And Spent The Last 12 Months What You Earn What You Spend Where You Are

27 26 How I Have Been Earning & Spending $ (My Old Ways) Notebook Pg D1 “As Is” Budget - Compile From Records For Last Year Homework – Do A Thirty (30) Day Expense Diary $$$ Income $$$ $$$ Giving & Taxes $$$ Net Spendable Income Computation $$$ Expenses $$$ Budget Surplus / Deficit Record Monthly Averages, Based On Last 12 Months

28 27 Income – What God Has Provided List Equivalent Average Monthly Income Wages, Tips $___________ Interest $____________ Overtime $___________ Loans $____________ Bonuses $___________ Retirement $____________ Total Gross Income $ ___________ Gross Income = Total Monthly Income Before Any Deductions Or Expenses Includes Average Monthly Equivalent Of Any Irregular, But Dependable, Income (E.G. $900 Bonus = 900/12 = $75 Per Month) $$$ Income $$$

29 28 I Manage: How I Have Been Spending $$ - Giving & Taxes $$$ Income $$$ $$$ Giving & Taxes $$$ Charitable Giving Church Missions Others Total Giving Taxes Federal State, Local Social Sec. Medicare Total Taxes Net Spendable Income Computation $$$ Expenses $$$ Budget Surplus / Deficit

30 29 Net Spendable Income – Save, Live $$$ Income $$$ $$$ Giving & Taxes$$$ Total Giving Total Taxes Total Giving & Taxes Net Spendable Income Computation Gross Income Minus Giving Minus Taxes Net Spendable Income $$$ Expenses $$$ Budget Surplus / Deficit

31 30 How I Have Been Spending $$ - Save, Live Monthly $$$ Income $$$ $$$ Giving & Taxes $$$Net Spendable Income $$$ Expenses $$$ Housing Transportation Entertainment Debts FoodMedical Savings Insurance Clothing Savings Miscellaneous Total Expenses ________ Budget Surplus / Deficit

32 31 How I Have Been Spending $$ - Budget Surplus / Deficit $$$ Income $$$ $$$ Giving & Taxes $$$ Net Spendable Income $$$ Expenses $$$ Budget Surplus / Deficit = Net Spendable – Total Expenses

33 32 Now You Know Where You Are Financially ! What You Spend What You Own What You Owe Net Worth “As Is” Budget What You Earn Debts

34 33 Be A Good Manager - Matt Seek Financial Freedom - Prov 10:22 Be A Good Planner - Prov 24:3-4, Prov 16:3 Establish Priorities - Needs- 1 Tim 6:8 Wants- 1 Pet 3:3-4 Desires- 1 John 2:16 God’s Financial Principles

35 34 Tips, Tricks & Traps - Section G Disclaimer: No Magic Solutions

36 35 Eviction Repossession Bankruptcy Divorce Start To Accumulate Start To Accumulate Develop Need For Things Develop Need For Things Feel $ Pressure Feel $ Pressure Problems- 1. Competing, “Need” For Things 2. Trying To Accumulate Too Quickly 3. Inadequate Planning & Discipline Borrow Too Much Borrow Too Much No Yes Financial Peace & Freedom How To Have A Financial Disaster Develop Discipline, Balanced Spending Develop Discipline, Balanced Spending

37 36 Credit Is Very Dangerous If Abused Credit Can Destroy Your Future Credit Encourages Overspending Credit Encourages Indulgence Credit Is Expensive And Puts The Squeeze On The Rest Of Your Budget- Paying Interest Isn't Fun Abuse Of Credit Can Enslave You Don't Be A Credit Frog Credit Is A Big Trap

38 37 What Happens If You Overspend A Mere 5%? $40,000/year Income - Overspend $174 Per Month Using Credit Cards Costing 18% Per Year Interest By The End Of The 5th Year You Owe $10,000 (25% Of A Year's Income) And Have Paid $4,574 In Interest To Stay Even You Must Pay Interest Of $1,800/year And Stop Overspending By $2,088/year, A Total Change Of $3,888 (Almost 10% Of Your Income) By Comparison, If You Invested The Same Amount You Would Have $12,278 8% Return After Taxes) Would You Rather Have $12,278 In Savings Or Be $10,000 In Debt?? That's A Difference Of $22,278 In Only 5 Years A Mere 5% Makes A Critical Difference How We Get Trapped By Over Borrowing

39 38 How Long To Pay Off? r How Long Does It Take To Pay Off Your Credit Card If You Make Just The Minimum Payment?

40 39 The True Cost of Credit  $1999 Sofa, Financed On A 19.8% APR Credit Card, Making Only Minimum Payments Of $46 Per Month  Will Be Paid Off In Just 31 Years!  Total Cost ---- Over $10,200 !!  That’s Over $8200 In Interest!!  That Interest, Invested At 10% Will Yield Over $45,500 In The Same 31 Years  A Difference Of Over $53,700!!! You Can’t Afford To Buy Using Credit

41 40 Debt List (Notebook Pg C1)

42 41 AMERICANS ARE DROWNING IN A SEA OF CREDIT CARD DEBT!

43 42 Credit Cards Are Like Drugs! They Give Short-term Pleasure Followed By Long-term Pain It Takes More And More To Keep Us Satisfied Average Family Credit Card Balance Was $1825 By June Of 1996, Average Balance Jumped To $3900 End Average Balances Reached Over $9000! Average Family Spends $100/Month In Interest Alone

44 43 There are over 2350 verses in the Bible about finances. God’s View of Debt  Prov. 22:7 Just as the rich rule over the poor, so the borrower is servant (slave) to the lender.  1 Cor. 7:23 God purchased you at a high price. Don’t be enslaved by the world. Debt is slavery!

45 44 What About Credit? Proverbs 22:26,27 Do not co-sign another person’s note or put up a guarantee for someone else’s loan. If you can’t pay it, even your bed will be snatched from under you. Proverbs 22:16 A person who gets ahead by oppressing the poor or by showering gifts on the rich will end in poverty. Debt Presumes Upon Tomorrow!

46 45 Don't Borrow For Depreciating Items What Items Depreciate??? Don't Borrow More Than You Can Afford To Repay Psalm 37:21- The wicked borrow and never repay, but the godly are generous givers. Use Cash Or A Check Whenever Practical, So You Will "Count The Cost" Don't Use Credit To Buy On Impulse Guidelines For Credit Use

47 46 Credit Card Guidelines 1. Be Accountable To Someone 2. Commit To Eliminating Impulse Buying - Don’t Go Out As Often - Make A List Of Things You Need 3. Use Credit Cards Properly Pay The Bills Off Each Month 4. Use Cash Whenever Possible ( You Will Decrease Purchases By Up To 33% !!) ( You Will Decrease Purchases By Up To 33% !!) DESTROY THEM! OR…..

48 47 More Guidelines For Credit Use Don't Use Credit To Buy Gifts Don't Use Credit To Meet Monthly Bills Don't Use Credit Cards To Avoid Developing Discipline Do Use Credit Cautiously, Or Not At All Do Use Cash Or Debit Instead Of Credit

49 48 Stop Borrowing 1. Stop Borrowing And/Or Charging With Credit Cards – Use One Of 3 Credit Card Prescriptions Or Recipes: A. Bake B. SliceC. Freeze 2. Set Up A Budget 2. Set Up A Budget To Save $1,000 For Emergencies & At Least Pay The Interest Owed Every Month. Eat Rice & Beans For A While 3. Start Paying Off What Is Owed 3. Start Paying Off What Is Owed As Quickly As Possible Pay All You Owe 4. Pay All You Owe - Prov 3:27,28... Do Not Withhold Good From Those Who Deserve It, When It Is in Your Power to Act. Do Not Say to Your Neighbor, "Come Back Later; I'll Give It Tomorrow"-- When You Now Have It With You. (NIV) Steps To Get Out Of Debt

50 49 Steps To Get Out Of Debt Cont.. 5. Pay Off The High Interest Debts First 6. Also, Pay Off Some Of The Smaller Debts First, So You Will Feel Success 7. Use Monthly Payment From Paid Off Debts To Accelerate Payoff Of Remaining Debts 8. Use All Or Part Of Windfall Income To Pay Debts 9. Create Some Extra Debt Payoff Income - Sell Things (Garage Sales, Ebay, Craigs List), Work Overtime, Extra Jobs, Rent A Room In Your House, Eat More Beans & Rice …

51 50 Use Volunteer Budget Coach To Help – Contact Casas Budget Coach Coordinator: Chris Baird Nancy Prentiss ( ) (No fees. This is a free ministry.) Contact A Non Profit Credit Counselor- They Have Experience Dealing With Bill Collectors Consumer Credit Counselors Atlanta, Ga. Phone: Hope (Toll Free) Caution ! - May Advise Bankruptcy, Which Is Not Scriptural How To Get Help With Creditors

52 51 1. Advertising Is Designed To Create Discontentment 2. Advertising Creates An Attitude That “More Is Better” 3. Advertising Promotes Selfishness And Greed And Discontentment Advertising Can Be A Trap

53 52 Be On Your Guard Against Every Form Of Greed 4. God Says: Beware, Be On Your Guard Against Every Form Of Greed: a man's life does not consist in the abundance of his possessions Luke 12:15 Then he said to them, "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions.” (NIV) 5. Tip - Throw Junk Mail And Advertisements Away So You Won't Be Tempted 6. Buy What You Need On Sale, But Don't Buy Anything Else, Unless You Really Planned On Buying It. Sale Items Are Designed To Get You To Spend Lots More Than You Planned To Spend. Advertising Can Be A Trap Cont’d..

54 53 Impulse Buying FROM THE WALL STREET JOURNAL; ARTICLE ENTITLED “BIG SPENDERS” Statistics 53% Of All Groceries Are Impulse 47 % Of All Hardware Purchases Are Impulse Only 25% Of Shoppers Have A List Or Research Purchases You Are Exposed To Advertisements Per Day You Can Decrease Your Spending By % If You Gave Up Your Plastic

55 54 Who Are The Big Impulsive Spenders In America? Use An Impulse List To Control Impulse Buying Get At Least 3 Prices Before Buying Wait A Day, A Week, A Month Controlling Impulse Buying Notebook Pg G1 Item Cost # 1 Cost # 2Cost # 3 Sep 10Laptop Computer$1, $1, $ Dec 11Big Screen TV$2, $1, $ Jun 21 VCR $ $ $ Date Only One Item On The List At A Time Married - Three Lists: His, Hers, Ours Impulse List

56 55 Make A Gift Spending Plan And Stick To It No Credit Buying, Make Gifts To Save Money (Show Love) Gift List Controlling Gifts (Notebook Pg G2) EVENT DATEPERSON $ ALLOCATED BirthdayMar 22 Bob Jones... Cousin $ Anniversary Mar 30 Susan …Wife $ Christmas Dec 25 Susan …Wife $ Children $25 ea. $ WeddingJan 26 Beth…Daughter $ 1, Birthdays Various Total For Year $ ______ Total Per Month $ ______

57 56 Why Save? Prov 6:6-8 Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest. (NIV) Save To Avoid Worry - Savings Allow Us To Smile When Small Emergencies Come Along … And They Always Do How Much “Emergency” Savings Is Enough? Start With Minimum of $1,000 Then Build From There One Months Expenses In Highly Liquid Form 3 To 6 Months Savings In Liquid Form Purpose Of Savings - Cover Noncatastrophic Unexpected Expenses Repairs, Medical Expenses Unemployment Savings Create Freedom

58 57 Be A Godly Manager - Live Within Our Means With Balance And Freedom, And To Provide For Others, Kingdom Work And Our Future Long Term Needs Budgeting Is A Useful Planning And Control Process That Can Help You To Achieve Your Goals And Live In Freedom The Goal Of Budgeting

59 58 What God Says About Where His Money Goes Income God’s Generous Heart God’s Generous Heart - God’s Provision For Us Phil 4:19 Giving Our Generous Heart Our Generous Heart – Our Provision For God’s Work & Others Prov 3:9 Prov 28:27 Savings Prov 21:20 Emergencies, Unemployment Prov 21:5 Deu 8:17-18 Sow/Reap, Multiply For Future Investments Taxes Living Expenses Debt Pay-off Provision for the Gov’t. Provision for the Family To Become Free (One Master Vs Two) Matt 22:17-21I Tim 5:8 Prov 22:7 ReceiveGiveSaveLive

60 59 Income Income - "And my God will meet all your needs according to his glorious riches in Christ Jesus." (Phil 4:19 NIV) Giving Giving - "Honor the LORD with your wealth, with the firstfruits of all your crops;" (Prov 3:9 NIV) "He who gives to the poor will lack nothing, but he who closes his eyes to them receives many curses." (Prov 28:27 NIV) Taxes Taxes - "Tell us then, what is your opinion? Is it right to pay taxes to Caesar or not? But Jesus, knowing their evil intent, said, "You hypocrites, why are you trying to trap me? Show me the coin used for paying the tax." They brought him a denarius, and he asked them, "Whose portrait is this? And whose inscription?” Caesar's," they replied. Then he said to them, "Give to Caesar what is Caesar's, and to God what is God's." (Mat 22:17-21 NIV) Living Expenses Living Expenses - "If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever.“ (1 Tim 5:8 NIV) What God Says About Where His Money Goes

61 60 Savings Savings - "In the house of the wise are stores of choice food and oil, but a foolish man devours all he has." (Prov 21:20 NIV) Debt Payoff the borrower is servant to the lender Debt Payoff - "The rich rule over the poor, and the borrower is servant to the lender." (Prov 22:7 NIV) No one can serve two masters You cannot serve both God and Money "No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money." (Mat 6:24 NIV) Investments Investments - "The plans of the diligent lead to profit as surely as haste leads to poverty." (Prov 21:5 NIV) "You may say to yourself, "My power and the strength of my hands have produced this wealth for me. But remember the LORD your God, for it is He who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your forefathers, as it is today." (Deu 8:17-18 NIV) What God Says About Where His Money Goes

62 61 GOD 10% Government 18% Net Spendable Income 72% Typical Balanced Budget $40,000 Income $40,000 Income ~ 28 % To God And Government ~ 72 % To Spend & Save

63 62 Recognize God As The Owner Recognize God As The Owner - … the world is mine, and all that is in it. (PS 50:12b NIV) Give And Expect God To Bless The Right Attitude Give And Expect God To Bless The Right Attitude - We Give Because We Are Grateful Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. ( 2 Cor 9:6 NIV) We Give Because We Are Grateful Give The First Part Of All Give The First Part Of All - Honor the LORD with your wealth, with the firstfruits of all your crops; (Prov 3:9 NIV) How Much Should You Give? 10%? 20% ? 90%?: Lev 37:30 A tithe of everything belongs to the LORD; it is holy to the LORD A tithe of everything from the land, whether grain from the soil or fruit from the trees, belongs to the LORD; it is holy to the LORD. (Lev 27:30 NIV) Giving & Sharing Principles

64 63 Cont’d How & When To Give - With, Planning And Premeditation give what he has decided in his heart to give, not reluctantly or under compulsionGod loves a cheerful giver How & When To Give - With, Planning And Premeditation - Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. (2 Cor 9:7 NIV) Give Weekly Give Weekly - I Cor 16:2 On the first day of every week, each one of you should set aside a sum of money in keeping with his income, saving it up, so that when I come no collections will have to be made. (NIV) Giving Weekly Yields a Blessing Weekly. Give Proportionately- Give Proportionately- Luke 12:48 From everyone who has been given much, much will be demanded; and from the one who has been entrusted with much, much more will be asked. (NIV) Have You Been Given Much? How Much Is Expected Of You? Giving And Sharing Principles Principles

65 64 Sometimes God Asks Us To Give Sacrificially They all gave out of their wealth; but she, out of her poverty, put in everything-- all she had to live on.” Sometimes God Asks Us To Give Sacrificially - Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. But a poor widow came and put in two very small copper coins, worth only a fraction of a penny. Calling his disciples to him, Jesus said, "I tell you the truth, this poor widow has put more into the treasury than all the others. They all gave out of their wealth; but she, out of her poverty, put in everything-- all she had to live on.” (Mk 12:41-43 NIV) Giving And Sharing Principles Cont’d Principles Cont’d …

66 65 The Bottom Line: Give Cheerfully And Generously for God loves a cheerful giver Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. your generosity will result in thanksgiving to God. You will be made rich in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God. (2 Cor 9:6,7 NIV) Giving And Sharing Principles Principles Cont’d..

67 66 You're Right. There Are Some Changes We Should Make. Analyzing How You Have Been Spending Your Income

68 67 Expense Guidelines, $40,000 Gross, Max Housing MAX HOUSING 40% MISC 6% MEDICAL 5% SAVINGS 5% CLOTHING 5% RECREATION 4% DEBTS 5% FOOD 15% AUTO 10% INSURANCE 5%

69 68 Ballpark Budget Guidelines Family Of 4 (Notebook Pg E2) School/Childcare 8% 6% 5%

70 69 Ballpark Budget Guidelines Single Adult (Notebook Pg E7)

71 70 Budget Analysis Worksheet (Notebook Pg E9)

72 71 Hoarding Overspending God & Family Church & Career IncomeOutgo Income Outgo Balance, The Key To Success Danger!Danger! Success!Success!

73 72 A Most Important Principle You Absolutely Cannot Spend More Than You Earn!!! You Absolutely Cannot Spend More Than You Earn!!! ABSOLUTELY!!! Remember What John The Baptist Said : Luke 3:14"And us,” asked some soldiers, "what about us?” be content with your pay" John replied, "Don't extort money by threats and violence; don't accuse anyone of what you know he didn't do; and be content with your pay"

74 73 Purpose Is To Illustrate Application Of Principles To Real Budgets Case Studies Differ From Guideline Budget, But Are Balanced Budgets For These People Each Case Is Unique, Just As Your Situation Is Unique Case Studies Show High Allocation For Housing, Which Is Typical Of High Housing Cost Area Or Newly Weds Or Singles Buying First Home Case Studies

75 74 Case Study – Single, Renter $20,000 Income Housing 36.1% Food 9.3% Auto 26.5% Insurance 5.0% Debts 4.8% Recreation 7.0% Clothing 3.0% Investments 3.0% Misc 2.3% Medical 3.0% How Does This Budget Compare To The Guidelines On Pg E7?

76 75 Case Study Maximum Housing, No Debt, Newlywed’s Housing 44.0% Food 10% Insurance 1.0% Recreation 6.0% Clothing 2.0% Savings 2.0% Medical 1.0% Misc 9.0% Retirement 8.0% Business 2.0%

77 76 Case Study Maximum Housing, No Debt, Newlywed’s

78 77 1% Giving Challenge Try Increasing Your Giving 1% - See What God Does To Bless You

79 78 Housing 34.9% Debts 13.1% Food 7.6% Auto 6.1% Insurance 1.8% Recreation 10.4% Clothing 3.1% Medical 1.4% Misc 11.2% Savings 4.7% Retirement 5.6% Case Study Maximum housing (48%), Accelerated Mortgage Payoff Accelerated Mortgage Payoff

80 79 Case Study Married 15 Years, 2 Young Children, $60,000 Income, “Own” Home, Investing For Early Retirement Category Comment Higher Giving, Lower Taxes. Total About The Same ! 13% Total Savings Investment. Goal – Early Retirementc 13% Christian Schools Payoff Mortgage By Age 45 No Credit Card Or Auto Debt

81 80 Biggest Mistakes To Avoid r No Savings r Overspend Using Debt House, FurnishingsHouse, Furnishings CarsCars r Abuse Credit Cards, Car Loans, Mortgage r Fail To Invest Early & Wisely

82 81 Giving & Sharing Resisting Impulse Buying Planning Becoming Debt Free Saving Investing Develop New Habits

83 82 US Government Form W-4 Employee’s Federal Withholding Allowance Certificate File W4 Form To Adjust Your Witholding To Avoid Giving Governments A Big “Free Loan”

84 83 Windfall Income Consciously Manage Windfall Income, Whether Irregular or One Time $ Allocate It To: Payoff Debts Replenish Accounts Running Low Add to Savings Entertainment Education Investments Don’t Let “Miscellaneous” Get It! Don’t Set Up Your Budget Based On Windfall Income

85 84 Fluctuating Income 52.5% Average Surplus Deficit Tip…Totally Segregate Business Income From Home Finances

86 85 Cars - Detailed Ownership Cost Example r r 2008 Honda Accord - $23,745 Purchase Price, LX 4 Door Sedan, 2.4L 4 Cyl 5A r r True Cost to Own 5 Years - $39,404 r r Average Cost Per Mile (15,000 miles/Year) - $0.53 Year 1Year 2Year 3Year 4Year 55-yr Total Depreciation $4,359$2,237$1,970$1,746$1,566$11,878 Financing $1,637$1,327$991$625$228$4,808 Insurance $1,420$1,470$1,521$1,574$1,598$7,583 Taxes & Fees $1,950$307$257$216$181$2,911 Fuel $1,554$1,601$1,649$1,698$1,749$8,251 Maintenance $288$540$405$1,168$840$3,241 Repairs $0 $105$254$373$732 Yearly Totals $11,208$7,482$6,898$7,281$6,535 $39,404

87 86 Family Truck - Detailed Ownership Cost Example 2008 Nissan Titan SE 4 Door King Cab- $25,351 Purchase Price, LX 4 Door Sedan, 2.4L 4 Cyl 5A r r True Cost to Own 5 Years - $57,564 r r Average Cost Per Mile (15,000 miles/Year) - $0.77 (45% / $18,160 > Mid Size 4 Door) Year 1Year 2Year 3Year 4Year 55-yr Total Depreciation $8,662$2,454$2,160$1,915$1,718$16,909 Financing $2,093$1,697$1,266$799$291$6,146 Insurance $1,870$1,935$2,003$2,033$2,146$9,987 Taxes & Fees $2,488$393$329$276$231$3,717 Fuel $2,874$2,960$3,049$3,140$3,234$15,257 Maintenance $469$829$541$2,173$804$4,816 Repairs $0 $105$254$373$732 Yearly Totals $18,456$10,268$9,453$10,590$8,797 $57,564

88 87 True Cost To Own A Car Source: Oct Tips Tips Used Is Cheaper Used Is Cheaper Smaller Is Cheaper Smaller Is Cheaper Minimize/Eliminate Loans Minimize/Eliminate Loans Make Sure You Can Afford What You Buy Make Sure You Can Afford What You Buy Wise Car Decisions Can Fund College, Weddings, Retirement Wise Car Decisions Can Fund College, Weddings, Retirement Used Is 30% Cheaper

89 88 5-Year Loan (60 mo) Underwater 3 Years !!! (Owe More Than Car Is Worth)

90 89 Make A Dream List (Notebook Pg G3) Candidate Item To Buy DatePriorityPrice #1 Price #2 Price #3 Comments New Computer Dream List Leather Couch Quad ATV Big Screen TV Vacation Home

91 90 How To Get Totally Out Of Debt! Including Your Mortgage Get A 15 Year Loan Instead Of A 30 Year Loan The Total Cost Of A Typical 30 Year Home Loan Is 2.25 Times The Loan Amount, A $100,000 Loan Costs Roughly $225,000 A $100,000 Loan At 6.5% For 30 Years Costs $629 Per Month By Paying 38% More Per Month ($238) You Will Pay Off The Loan In 15 Years And Save $70,364! At The End Of The 15th Year You Will Have $867 Per Month Extra To Invest Or Spend What Can You Fund With $867/Month? Giving, Early Retirement? Kids College? Weddings? Vacations?

92 91 How To Pay A Little More And Get Totally Out Of Debt! Buy Used Car Instead Of New Car – Payoff House Early With $$$ Saved Convert To A Bi-weekly Mortgage (Pay Half Your Mortgage Payment Every Two Weeks) Make Extra Principal Payment Each Month (Small In Beginning, Large At End Of Mortgage) Use Windfall Income (Bonus, Inheritance …) Refinance Mortgage When Interest Rates Drop, Refinances Again If Rates Drop More Defer Saving For Kids’ College. Pay For College Using What Used To Be Mortgage Payment (After Mortgage Is Paid Off)

93 92 Summary - Steps To Becoming Totally Debt Free $1,000 Emergency Savings, Stop Borrowing, Meet Monthly Payments Payoff Consumer Credit Debts, Save 3 To 6 Months Expenses Payoff Car Loans, Save To Buy Cars For Cash Payoff Home, Invest For Long Term Needs – College, Retirement … College, Retirement … Debt Free !!! Spend For College, Weddings Fund More Kingdom Work Enjoy Income From Investments Enjoy, Fund Even More Kingdom Work

94 Wealth Building Secrets – Four Cornerstones Paid Off Home Debt Free, Adequate Savings Minimize Recurring Expenses Pension, Social Security, Medicare (Maybe, Maybe Not) Nestegg of Diversified Investments (IRA, 401k, 403B …) Expense Avoidance / Elimination $$$ Cash Flow $$$ Cash Flow To Last Rest of Your Life! Expenses Income

95 Power of Eliminating or Reducing Small Recurring Expenses – How To Increase Your Nest Egg By $95,000 $10 Pizza Once A Month Age  Spend $120x40= $4,800  Gain Some Weight? Invest 10% Per Year Annual Return (Tax Deferred)  $ 7,680 At Age 40  $21,833 At Age 50  $95,015 At Age 65 – That’s A Lot of Pizza In Retirement. Cost – Gave Up $4,800 of Pizza  Moral – Be Careful About Squirreling Your $ Away Tip – Reduce Or Eliminate Recurring Expenses Wherever You Can. Compounded Expenses Work Against You (9 th Horror ($$$ Cancer) of the World) Source – Retire Early, Sleep Well Pg 108 Average Family Spends $100/Month On Credit Card Interest. Real Cost ?

96 Power of Eliminating Larger Recurring Expenses – How To Increase Your Nest Egg By $725,000 Example - Buy A Car That Is $10,000 More Expensive Every 5 Years, Age 30 To Age 65 ($35,000 Vs $25,000 Or $25,000 Vs $15,000)  Spend $10,000 x 8 Cars = $80,000  Real Cost Is Much, Much Higher (Opportunity Cost) $10,000 Cheaper Car Every 5 Years. Invest $10,000 Saved Every 5 10% Per Year Annual Return (Tax Deferred)  $ 10,000 At Age 30  $ 52,043 At Age 40  $161,090 At Age 50  $724,955 At Age 65 Tip – Driving A Nice Used Car And/Or Driving A New Car A Long Time Will Help Fund Your Nest Egg, And You Can Drive A Very Nice Car In Retirement Source – Retire Early, Sleep Well Pg 108

97 96 Section “F”... My plans For Next 12 Months My New Habits My Plan To Be A Better Manager

98 97 Establish A Maximum Lifestyle Don’t You Mean Minimum? No, I Mean Maximum! Why? Use A Standard To Let You Know You Have Arrived And Can Be Content To Know You’ve Achieved The Goal With A Minimum, Most People Are Not Content Are You Content With The Maximum? “Godliness With Contentment Is Great Gain” I Timothy 6:6

99 98 Fix Your Spending Level Maximum Minimum Not Totally Content Not Enough Surplus – More Than Enough Enough If We Are Not Content With What We Have, We Will Not Be Happy With What We Want. We Are Not Born With Contentment. It Must Be Learned. Adam And Eve Failed To Be Content Even In A Perfect Environment. Bill Gothard

100 99 Spending Decisions - Tips Is This A Need, A Want Or A Desire? Can I Afford It Right Now? Is This The Best Price? Is This The Right Model And Quality? Have I Researched This Purchase To Make A “Best Buy”? Have I Trusted God To Provide Or Not Provide? Will I Have Peace After I Buy This Item? How Will This Purchase Affect Relationships?

101 100 Can You Buy A New Couch?

102 101 Can They Buy A New Couch? Check NumberDateDescription Amount Of Transaction TFee Amount Of Dep Balance 1,215.60$ 8849/23/97Smith’s - Groceries $ $1, /27/97Pep Boys - Auto Repair $ $ /30/97Deposit Bob’s Paycheck $ $1, Bill And Nancy Spender’s Check Book It Is The End Of The Month And All Bills Have Been Paid And There Is $1, Left In The Check Book The $1200 Couch Bill And Nancy Have Been Wanting Goes On Sale For $800 Can Bill And Nancy Buy The Couch? Why Or Why Not?

103 102 The Control System - The Key To Making Your Finances Work

104 103 Control System - Allocation & Control Keep It Simple! Food Auto Housing Auto $600 Per Month Food $400 Per Month Housing $1100 Per Month

105 104 Budget Account Sheet - One Sheet Per Budget Item (Workbook Pg I2) DateTransactionWithdrawBalance 1-MayDeposit25.00$ $ 3-MayDate with Sally7.95$ 17.05$ 4-MayIce cream w/Sally3$ 14$ 6-MayDinner w/Sally13$ 1$ 8-MayDeposit25$ 26$ 9-MayDate W/Sally-Play30$ (4)$ 9-MayWork Overtime20$ 16$ Tip - Round To The Nearest Dollar Before You Spend Money, Check The Budget Account Sheet To Make Sure You Can Afford The Expense Record Expenses Promptly, Mark Up Receipts To Show What Budget Account Was Used For Each Item Before You Spend Look At Balance In The Account Before You Spend Budget Account: Entertainment October 1998 Yearly Allocation: $ 1,300Monthly Allocation: $108 ($25/Week) Deposit

106 105 Budget Account Sheet - One Per Budget Item (Workbook Pg I2) DateTransactionWithdrawBalance 1-MayDeposit400$ $ 3-MaySmith’s68$ 332$ 4-MayAbco82$ 250$ 10-MayOsco 13$ 247$ 19-MaySafeway49$ 198$ 29-MayFrys87$ 111 $ 31-MayCostco (16)$ Budget Account: Food October 1998 Yearly Allocation: $ 4,800 Monthly Allocation: $400 Deposit 127 $ Small Amounts Over At End Of Month Will Usually Average Out Use The Budget Account Balance To Control Your Spending. Know The Balance Before You Go Shopping One Account Per Item - Gives Good Control In The Beginning, Error On The Side Of Too Many Accounts

107 106 Budget Accounts - Tips Mad Money - Everyone Should Have A Small Amount Of “Mad” Money Allocated That They Can Spend In Cash Without Having To Keep Track Of It Love Tokens - Allocate A Small Amount To Buy An Occasional Love Token For Your Loved Ones Allocate Money For A “Beauty” Budget For Your Lady Have Separate Hobby Budgets For Each Person Develop A Plan For “Our Money”, Not “His $” & “Her $” Work Some Small Indulgences Or Luxuries Into Your Budget Segregate Business Finances From Home Finances

108 107 Budget Accounts - Tips You Will Need Two To Three Dozen Different Accounts Be Flexible And Willing To Change Your Plan Your Plan Won’t Be Perfect, Fix It As You Go - Use The Monthly Summary To Detect And Correct Problems To Start, Do Book Keeping Every Week After Things Are Running Smoothly, You Can Do Book Keeping Every Two Weeks Or Monthly If You Wish Make Sure To Have A Few Fun Accounts, Even If You Are Deeply In Debt

109 108 Category AllocationJan Feb Mar Apr Giving House Mortgage House Maintenance House Insurance House Taxes Monthly Summary Sheet (Notebook Pg H1) At The End Of The Month, Complete All Your Book Keeping, Then Record The Amount Left In Each Budget Account On The Monthly Summary Sheet When You Are Well Rested & Mellow, Analyze The Summary To See What Worked, Problem Areas, Month To Month Trends Discuss Observations With Your Spouse Or A Trusted Friend Change Plan If Not Working Change Plan If Not Working. Do One Time Transfers Or “Loans”. End Of Month Balances

110 109 Develop Discipline, Which Will Lead To Freedom, No Debt Spend Money Based On The Bottom Line Of The Budget Account Sheet And NOT The Bottom Line Of The Checkbook, Or Your Wallet Or Your Credit Limit !

111 110 Keeping Good Books Record All Transactions As Soon As Practical Write Down Cash Expenditures On 3 By 5 Card, Or Save The Receipt & Mark It Up So You Will Know What Account To Record The Expense In (For Example, Husband’s Clothing $25, Wife’s Clothing $21) If Married, Play To Your Strengths - Have The Person With Good Math Skills Keep The Books Write Down All Checks, Debit Or Credit Card Uses In Detail. Tip - Carbonless Check Register Balance Your Check Book Every Month - The Sooner, The Better

112 111 Learn To Distinguish Between NeedsWantsDesires

113 112 Financial Decision Making Tips Put God At The Center Of Your Decisions Develop A Balanced Giving, Saving, Spending, Investing, Debt Payoff Plan Plan For Major Purchases, Avoid Impulse Buying Develop A Long Range Investment Plan – Get Educated In Biblical Approaches To Investing Do Retirement Planning To Help You To Decide How Much To Save & Invest For The Future

114 113 Financial Decision Making Tips Peace Make Decisions To Maximize The Amount Of Peace You Will Have, Not Necessarily The Most Profit If You Don’t Have Peace, Don’t Do It! Decide In Advance To Be Totally Honest

115 114 Our Part – Believe, Manage Well r Do We Believe God? God is Creator and Owner of Everything. The essence of His nature is love. He provides for us by giving to us in order to care for us and to minister to our needs. He provides for us by giving to us in order to care for us and to minister to our needs. We gratefully receive from God and respond to His generosity by: Giving Giving to honor God, minister to the needs of others, and to support the church as she evangelizes the lost and matures disciples Saving Multiplying Saving and Multiplying for the future Living Living contentedly within the limits of God’s provision   Giving   Saving   Living FAITH CRISIS God Owns God Provides I Manage BeliefsDecisions Actions © Casas Church – Used By Permission. Minor Mods By Author God Provides Results,Blessings Sowing/ Reaping

116 115 Financial Freedom Notebook - Use It ! Financial Freedom Notebook Goals Net Worth “As Is” Budget Budget Analysis Spending Guidelines Budget Plan Account Sheets Monthly Summary Yearly Summary Impulse List Purchase List Gift List

117 116 God’s Secret Success Formula r Commit to the Lord whatever you do and your plans will succeed. Proverbs 16:3 r May he give you the desire of your heart and make all your plans succeed. Psalm 20:4

118 God’s Simple Plan 1. God Owns 1. God Owns 2. I Manage 2. I Manage 3. God Provides 3. God Provides (God’s Generous Heart) (Give, Save, Live)

119 118 Develop New Habits GIVING & SHARING RESISTING IMPULSE BUYING PLANNING BECOMING DEBT FREE SAVING INVESTING Isa 43:18 NIV "Forget the former things; do not dwell on the past. See, I am doing a new thing! “ Changing Behavior Starts With Changing Beliefs.” GIVING & SHARING RESISTING IMPULSE BUYING PLANNING BECOMING DEBT FREE SAVING INVESTING

120 119 True Riches, Honor, And Life... … do not come by our striving after them. They come when we walk humbly before a holy God and become accountable for every thought word, attitude, and action “By humility and fear of the lord are riches, and honour, and life.” Proverbs 11:4 Bill Gothard and Staff

121 120 True Riches The resources which God entrusts to us after we surrender our desire to be rich. “But they that will be rich fall into … many foolish and hurtful lusts… “ 1 Timothy 6:9 Bill Gothard and Staff

122 121 Supplementary Charts

123 122 ResourcesResources Short Range Planning Your Money- Frustration Or Freedom? Howard Dayton Total Money Makeover – Dave Ramsey The Complete Financial Guide For Young Couples - Larry Burkett The Complete Financial Guide For Single Parent - Larry Burkett Debt Free Living- How To Get Out Of Debt (And Stay Out) - Larry Burkett What Husbands Wished Their Wives Knew About Money - Larry Burkett God’s Guide Through The Money Jungle (For High Schoolers) – Larry Burkett Teaching Your Children How To Handle Money- Ron & Judy Blue Biblical Principles Using Your Money Wisely (2 Pages Per Biblical Principle)- Larry Burkett How To Manage Your Money (Bible Study)- Larry Burkett What The Bible Says About Money (Topical Concordance) - Larry Burkett Crown Small Group Study – 12 week

124 123 ResourcesResources Long Range Planning- Investing & Retirement Retire Early, Sleep Well – Steve Davis Investing For The Future- Larry Burkett Preparing For Retirement- Larry Burkett Master Your Money- Ron Blue Business By The Book - Larry Burkett (How To Run A Business Using Biblical Principles) BOGLE On MUTUAL FUNDS- JOHN C. Bogle Other Resources Financial Ministrieswww.Crown.org Southern Arizona Crown Area Director – Ron Staub Phone: Dave Ramsey – Christian Talk Radio Hostwww.DaveRamsey.com

125 124 Financial Questionnaire r 1. Do You Think Your Finances Are Well Planned and Managed? r 2. Are You Content With Money Matters? r 3. Do You Have Written Personal, Family, and Financial Goals? r 4. Do You Have Long Range Plans for Saving, Investing and Retiring? r 4. Do You Have Long Range Plans for Saving, Investing and X Retiring? r 5. Do You Know How Much You Owe on All of Your Debts?

126 125 Financial Questionnaire r 6. Do You Never Pay Late Charges, Bounced Check Charges or Interest for Credit Card Charges? r 7. Do You Have a Written Personal or Family Budget and Are You Following It? r 7. Do You Have a Written Personal or Family Budget and Are X X You Following It? r 8. Do You Have a Good Understanding of What the Bible Says About Your Finances? r 8. Do You Have a Good Understanding of What the Bible Says X About Your Finances? r 9. Do You Have a Current Will? r 10. If You Are Married, Are Finances One of the Best Areas of Communication in Your Marriage? r 10. If You Are Married, Are Finances One of the Best Areas of X X Communication in Your Marriage? r 11. Do You Want to Learn How to Be a Better Money Manager?

127 126

128 127 The Foundation – God’s Principles 1 Cor 3:11 For no one can lay any foundation other than the one already laid, which is Jesus Christ. (NIV) plans plans plans Jer 29:11 For I know the plans I have for you," declares the LORD, "plans to prosper you and not to harm you, plans to give you hope and a future. (NIV) (God’s Generous Heart)

129 128  God’s Word Is Living And Active  God’s Word Is Living And Active "For the word of God is living and active. Sharper than any double-edged sword, it penetrates even to dividing soul and spirit, joints and marrow; it judges the thoughts and attitudes of the heart.” (Heb 4:12 NIV) Four Levels Of Maturity  We Are New Creations…This Includes Our Finances  We Are New Creations…This Includes Our Finances "Therefore, if anyone is in Christ, he is a new creation; the old has gone, the new has come!" (2 Cor 5:17 NIV) Infants Children Young Men Fathers 1 Cor 3:1, 1 Jn 2:12-14

130 129 God’s Secret Success Formula r Commit to the Lord whatever you do and your plans will succeed. Proverbs 16:3

131 130 What is God’s #1 Concern For Your Finances? "Love the LORD your God with all your heart and with all your soul and with all your strength." (Deu 6:5 NIV) Why??? “For God so loved the world that he gave his only Son … (Jn 3:16 NLT)

132 131 God’s Simple Plan 1. God Owns 1. God Owns 2. I Manage 2. I Manage 3. God Provides 3. God Provides (God’s Generous Heart) (Give, Save, Live)

133 132 Owns Step 1 - God Owns Psalm 24:1 NIV “The earth is the Lord's, and everything in it, the world, and all who live in it;” God Created Everything - God Is The Owner Commandments Exodus 20:3 NIV “You shall have no other gods before me.” You cannot serve two masters… Why?

134 133 Step 2 – I Manage Psalm 9:6-8 NLT “You put us in charge of everything you made, giving us authority over all things – the sheep and the cattle and all the wild animals, the birds in the sky, the fish in the sea, and everything that swims the ocean currents. God the Creator put us in charge of managing His creation We are His managers (stewards) What is expected of a steward?

135 134 Step 2 - I Manage (Parable Of The Talents) Mat 25:14-30 NIV ""Again, it will be like a man going on a journey, who called his servants and entrusted his property to them. To one he gave five talents of money, to another two talents, and to another one talent, each according to his ability. Then he went on his journey. The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man who had received the one talent went off, dug a hole in the ground and hid his master's money. After a long time the master of those servants returned and settled accounts with them. The man who had received the five talents brought the other five. 'Master,' he said, 'you entrusted me with five talents. See, I have gained five more.’ His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!’ The man with the two talents also came. 'Master,' he said, 'you entrusted me with two talents; see, I have gained two more.’ His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!’ Then the man who had received the one talent came. 'Master,' he said, 'I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your talent in the ground. See, here is what belongs to you.’ His master replied, 'You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest. Take the talent from him and give it to the one who has the ten talents.For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him.And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.'"

136 135 Some Observations God Is The Master And Owner We Are God’s And We Belong To God All We Have Belongs To God We Aren’t Asked If We Want The Job To Be God’s Manager The Question Is: Am I A Good Manager, Or A Bad Manager? God Gives To Us According To Our Abilities How Will We Answer When God Asks: What Have You Done x With Your Talents I Entrusted To You? God Uses Money To Teach Us And To Put Us To The Test. How x Are you Doing At Managing God’s Resources?

137 136 Step 3 - God Provides do not worry Mat 6:25 NIV ""Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more important than food, and the body more important than clothes?" Mat 6:27 NIV "Who of you by worrying can add a single hour to his life ?” do not worry Mat 6:31-34 NIV "So do not worry, saying, 'What shall we eat?' or 'What shall we drink?' or 'What shall we wear?'" "For the pagans run after all these things, and your heavenly Father knows that you need them." "But seek first his kingdom and his righteousness, and all these things will be given to you as well." do not worry "Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own."

138 137 Our Part – Believe, Manage Well r Do We Believe God? God is Creator and Owner of Everything. The essence of His nature is love. He provides for us by giving to us in order to care for us and to minister to our needs. He provides for us by giving to us in order to care for us and to minister to our needs. We gratefully receive from God and respond to His generosity by: Giving Giving to honor God, minister to the needs of others, and to support the church as she evangelizes the lost and matures disciples Saving Multiplying Saving and Multiplying for the future Living Living contentedly within the limits of God’s provision   Giving   Saving   Living FAITH CRISIS God Owns God Provides I Manage BeliefsActions Habits © Casas Church – Used By Permission. Minor Mods By Author God Provides Results,Blessings Sowing/ Reaping

139 138 Credit Cards Automobiles Housing

140 139 Gimmick Mortgages ARM – Adjustable Rate Mortgage ARM – Adjustable Rate Mortgage Interest Only Mortgage Interest Only Mortgage Balloon Payment Mortgage Balloon Payment Mortgage 40 to 50-yr Mortgage 40 to 50-yr Mortgage Teaser-Rate Mortgage Teaser-Rate Mortgage Reverse Mortgage Reverse Mortgage Home Equity Loan Home Equity Loan

141 140 Rules of the House NO ARM’s - Fixed Rate OnlyNO ARM’s - Fixed Rate Only Obtain a “Par quote” MortgageObtain a “Par quote” Mortgage Use Manual UnderwritingUse Manual Underwriting Get Shortest Term Possible – 15-yrGet Shortest Term Possible – 15-yr Don’t buy “too much” houseDon’t buy “too much” house Pre-Pay MortgagePre-Pay Mortgage No Debt Consolidation LoansNo Debt Consolidation Loans

142 141 Is this the Financial Direction You’re Getting from the World?

143 142 Teaching Children Financial Responsibility Give Children A Modest Allowance, So They Will Have Money To Manage. An Allowance Is A Privilege Of Being Part Of The Family. Expect Children To Do Defined Chores. Helping Do Work Is Part Of The Responsibility Of Being Part Of The Family Help Children Learn How To Set Up A Spending Plan Giving Saving Spending Investing – Yes, Teach Your Children How To Invest

144 143 Include Your Kids In Setting Up Your Financial Goals, And In Doing The Budget Every Person In The Family Should Have Budget Accounts To Manage - Toys, Clothing, Hobby, Etc. When Your Kids Get Married, They Will Imitate You Training Your Child To Be A Good Money Manager Could Save Their Marriage In The Future

145 144 Teaching Children Financial Responsibility Teach Kids God’s 3 Step $ Plan & Biblical Principles God Owns, I Manage, God Provides Teach Kids To Give Generously To God Teach Kids To Spend Wisely Teach Needs Vs Wants Or Desires Resist Impulses Buy On Sale, Buy Used Items, Trade For Items Buy Quality That Will Last Be A Good Steward Teach Kids To Save And Invest - Defer Gratification

146 145 Teaching Children Financial Responsibility Trust Them Let Them Make Mistakes - They Will Learn More Provide Them Paid Jobs To Earn Extra Money Discourage Them From Borrowing Train Them To Work To Buy Things, Don’t Spoil Them Share Expenses With Them - For Example, You Pay For Half Of An Item If They Will Pay For Half Volunteer To Match Funds For Investing (50/50) Show Kids Your Budget Summary Every Month Set A Good Example For Your Kids - Be A Good Manager


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