Verse of the Day - February 21, 2023.
Do not cast me away from Your presence, And do not take Your Holy Spirit from me. Restore to me the joy of Your salvation, And uphold me by Your generous Spirit.
Psalm 51:11 and 12. New King James Version.
The purpose of this BLOG is to help my readers discover ways that God intended for you to have joy, peace, success, and happiness in every area of your life, no matter what circumstances you face in life.
Wednesday, February 22, 2023
Thursday, February 2, 2023
How To Win The War On Debt ~ Revised and updated e Book Disclaimer
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How To Win The War On Debt ~Introduction ~ Debt ~ Steward ~ Money Management ~ 2023
How To Win The War On Debt Introduction ~ How To Get Out Of Debt ~ Steward ~ Money Management ~ 2023
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Well Done, Thy Good and Faithful Servant ~ How To Win The War On Debt - Chapter 7
Well Done, Thy Good and Faithful Servant
Some day we will stand before God and we will be accountable for the way we managed our lives, talents, and money. Our rewards in heaven will be based on how well we managed our affairs while here on earth.
My prayer is for everyone that reads this book will be able to make the necessary changes in their life to be good stewards of their money, time, and abilities so that when they stand before God they will hear Him say, "Well done my good and faithful servant. You have been faithful in a few things during your time on this earth. I will make you ruler over many things: enter into the joy of the Lord." (Read Matthew 25 and Matthew 13:23)
Checklist of strategies:
- My up-to-date Will is completed, signed, and notarized.
- The executor of my estate has been given a list of all of my important documents, including my life insurance policies, and where they are stored.
- My executor knows how and where to apply for any social security benefits available.
- My executor knows where to find my disability policy.
- My executor is aware of my VA benefits and will utilize any and all that apply to my family.
- My executor is aware of my Living Will and agrees to abide by my wishes.
- I have reviewed my W-4 statement with my employer and I no longer have too much tax money held out of my paycheck so I will get my money back at the end of the year. Uncle Sam was earning interest off of my money for a year.
- When I received my tax refund Uncle Sam kept the interest.
- I will now keep more of my income in savings in case I have to pay Uncle Sam some at the end of the year but this way I get to keep the interest plus possibly more of the income. Jesus said to render unto Caesar what is Caesar’s and unto God what is God’s.
- I have reviewed my career and part-time income possibilities with my counselor.
- I am on a zero-based budget every month.
- I have allocated all of this month's income on paper before the month begins.
- I have had my life insurance reviewed with my counselor and I am satisfied that I have the best possible coverage for the least amount of money.
- I have reviewed my savings and investment program with my counselor.
- I have reviewed my health insurance program with my employer or my counselor.
- I have reviewed my homeowner's policy with my counselor.
- I have reviewed my renter's insurance with my counselor.
- I have reviewed my auto policy with my counselor.
- I have disability insurance.
- I am no longer borrowing money or charging anything.
- I have received a copy of my credit(s) report to verify the accuracy.
- I have filed a "Dispute Form" about incorrect information with a credit reporting agency.
- I have cut up all of my credit cards.
- I have a bank debit card that is accepted nationwide like a Visa.
- I use my debit card when I travel instead of a credit card. (Note: this may not be true in all countries.)
- I use the envelope system and pay cash for everything except those bills that have to be paid with a check.
- I do not use my checking account for anything except to pay bills that I mail each month.
- I am tithing 10% of my paycheck every payday.
- 28. I am saving towards my $1000 emergency fund.
- I have $1000 in my emergency fund saved up and I am now paying the amount I was saving each pay period on my smallest debt - the debt snowball method.
- I have had my reviewed expense reduction strategies with my counselor.
- I am out of debt and I share my surplus income with others.
I trust that this book has been of some help to you. Getting out of debt is not an easy task and will not happen overnight. Be diligent, be persistent, be patient and you will see the victory.
Winning the "War on Debt" requires soldiers of great courage and strength. This war cannot be won by the weak and faint-hearted. The soldier must be in good shape emotionally and spiritually (prayed up and praised up). Before the soldier can go into battle he/she must "put on the whole armor of God" (Ephesians 6:10-18). The soldier must be able to resist the flaming arrows that the enemy attacks with. The soldier must be willing to take a stand and then stand firm in spite of how the situation looks.
We cannot win this war on our own strength for we do not battle against flesh and blood but against unseen forces. "Finally, my brethren, be strong in the Lord, and the power of His might." (Ephesians 6:10) It is by God's strength and power that we win the war, not ours. We are not alone in this war. We do not have to fight the battles alone. There are other soldiers facing the same battle that you are facing. God has given us the weapons to win this war and pull down the strongholds that hinder our life from success and happiness (2 Corinthians 10:3-5).
Some people do not believe there is a God or a Satan and that what happens to us in this life is fate. There are supernatural forces that influence the events of our lives even if we do not believe in God. God believes in you. Seek HIM first and HE will meet your needs.
I pray that you will share what you've learned here and help others as you have been helped.
The Bible says to study to show yourself approved. What that means is it’s our job, managers or stewards, of God’s property to study and learn everything we can. We are to learn everything we can and to do what he told us to do.
Have a question? Please feel free to send me a message using the "Contact Me" form on the right side of this Blog.
Thank you for reading this 7- Chapter eBook in blog format. I pray that you have been blessed and encouraged.
Please also feel free to send me your Prayer Request by using the Prayer Request form on the right side of this blog.
DEBT FREE - Free At Last, Free At Last - How To Win The War On Debt - Chapter 6
DEBT FREE - Free at Last, Free at Last
Christians are debt free in the spiritual world - why are we in debt in the natural world? In the Lord’s Prayer Jesus prayed, “...Thy will be done on earth as it is in heaven.” Is there any debt in Heaven? This is another teaching in itself, but Jesus is saying we have the authority and the power to do things on earth just like it is in heaven. More teaching on that at a later time.
We live in a world that is not our home. This is only a temporary residence while we wait for our eternal home. In this natural world, we are forced to function by the world's system in order to survive. Because of the fall of Adam and Eve sin and our lower nature cause a constant war against us. The devil uses our flesh and our weaknesses to cause trouble.
Jesus paid the price by the shedding of his blood and now we are debt free from the law of sin and death. If you have accepted Jesus as your Lord and Savior and you believe that when you die that you will live with him forever in heaven then you are indeed debt free from this world. You will live in heaven where there will not be any tears or sorrow. There will not be any bills to pay. You will not have to worry whether you will have enough money to make the house note or food to feed the family. You will not have to worry whether you will keep your job or not. Doesn't that sound great? I can't wait for that day.
Jesus knew that we would have struggles and struggles are not all bad for us. They can actually help us mature and build strong character. But, just as we will be debt free in heaven I think that Jesus intended for us to be debt free while we are here on this earth. Struggling with debt is not the struggle of life that is good for our character unless we learn from the experience and vow never to get into that bondage again.
What causes us to allow ourselves to get into debt so easily? Larry Burkett said that there are three personality traits that lead to debt:
1. Ignorance - lack of training and lack of knowledge
2. Indulgence - impulse buying, and get-rich-quick schemes all have the same root cause: greed.
3. Poor Planning - the symptom is debt - the real problem is planning.
What is wrong with debt if you are able to make all of your payments on time? The debtor is in servitude to the lender. In Biblical times the debtors were subject to being imprisoned, slavery, and everything that the debtor owned could be confiscated if they couldn't repay.
Why were the laws so harsh back then? This was to keep people from going into debt in the first place. Modern society has changed its attitude about debt and actually encourages it. Borrowing is less risky and more credit is to easy to get therefore it has encouraged us to indulge in sensual, worldly pleasures.
We are bombarded with commercials on TV, radio, in newspapers, and in magazines with advertisements trying to get us to buy their products. These slick marketing campaigns seduce mass audiences of especially children who in turn ask their parents to buy their products. Infomercials seduce us into buying the latest health equipment and get-rich schemes.
Can you remember that just 35 years ago families ate almost all their meals together at home instead of in restaurants? Can you remember the TV commercial that changed all of that? "You deserve a break today so go out and get away to Mcdonald's." Mcdonald's is still the number one place that kids want to go to today. A lot of other fast food restaurants saw this success and followed suit so therefore we have fast food chains everywhere. Even Russia and China!
What is so bad about eating out? There is nothing wrong with eating out. With the hectic lifestyles that we live now, there isn't time to prepare good wholesome meals at home like there used to be. Eating out so much has caused many family problems. First, I believe that families that eat on the run don't eat together as much. And second I suspect that the nutritional value has dropped and the calories have increased. We've got more overweight young people in this country than anywhere in the world.
Because buying power of the dollar started decreasing in the late sixties and early seventies a single income no longer was enough to support a family. Mom had to join the workforce to help support the family. This second income helped also seduce many families into the indulgence of things. We became a nation of credit and debt instead of a nation of savers. We believed in the American Dream and we believed that we should have everything that we wanted. We believe that all we had to do was just say, "Charge it." We became a nation that lived beyond our means to satisfy our lust for things. Debt became a normal way of life.
Debt is not normal. Because we have not been able to control our lust for things financial problems have caused a breakdown in so many families that divorce has become common. Many young people that marry today do not take marriage seriously and never plan on staying married for ten years. Debt causes serious stress in the marriage and also the relationship between parents and children. The rate of child abuse has sky rocked. When I was growing up in the '50s and 60s I had never heard of child abuse. I became a foster parent in the late 70s and I just couldn't believe that grown up's could do these horrible things to children much less their own children. Bankruptcy is no longer looked down upon. It is accepted as a quick-fix option with little or no regard to our responsibility to repay our debts.
There are instances where divorce is necessary to protect an abused wife and even bankruptcy may be necessary but the point is that evil has entered the heart of man and caused sin. Satan has deceived this nation. He has tricked us into believing a lie. He has tricked us in the pursuit of material things. He has destroyed families. He has destroyed our values. We have become a nation that accepts abortion as an option for sin. Bankruptcy is an option for sin. A divorce is an option for sin.
This course can help you manage your money. I recommend that you set up a private counseling session with one of the counselors from Crown Financial Ministries - http://www.crown.org/ - they can outline a plan that will help you work your way out of debt. But the financial problems you have are really symptoms of greater problems that exist. So unless you deal with the root problems, the symptoms will always return. Unless you and your spouse make a firm commitment to breaking the cycle of the root problem the debt will never go away.
While writing this chapter I became very angry. I became angry at myself because I realize how the divorce and bankruptcy that I went through were so unnecessary. I realize that I allowed Satan to run over me and steal everything that I once had. I am mad at myself that I didn't take a stand and fight. I am also mad that I wasn't committed to tithing and saving throughout my years as I am now.
I am very thankful that God has seen me through those bad times and has given me a wonderful wife and has prospered me with more material things than I ever had before. The material things are nice but I want to build my treasures in heaven. That's where I will enjoy my treasures the longest.
God wants us to be debt free while we are on this earth. We did not get into debt overnight and we will not get out overnight. Write down all of your debtors, the balances, and the monthly payments. Develop a plan to pay off those debts. Become self-disciplined and stick to that plan until you become debt free.
Warning! - GET OUT OF DEBT – You are in financial quicksand! - (Go to Jail - Do not pass Go - Do Not Collect $200) - How To Win The War On Debt - Chapter 5
Why hasn't anyone posted warning signs about debt to protect us as we travel the road of life? Why didn't our parents teach us the dangers of debt? Why do our high schools and colleges not have classes on how to stay out of debt? Well, that's just not how the world's system operates now.
Prior to World War II, only 2% of Americans had a mortgage. For people that lived through the depression of the 20s debt was not in their vocabulary. When World War II was over and the GIs were coming home the US Government decided that they should honor their servicemen by helping them and their families by guaranteeing the soldier homeowners loans.
The housing market became big business. These GIs were owning better homes than they had ever lived in before. Now the standard of living was increasing and it caused the Jones to believe that they deserved a better house. Ever since then, we've been trying to keep up with the Jones.
What has happened is somehow it just became expected for you to go into debt to buy a house or a car. Before World War II you were considered a low person if you were in debt. In the late '50s, 60s, and into the 70s if you didn't go into debt to live in a certain kind of house and you didn't drive certain kinds of cars you were considered lower than everyone else. The other kids made fun of you if you were considered poor.
A snobbish attitude developed and debt became the status quo of success. There are these unwritten laws that we "keep up with the Jones", or appear to be more successful than we really are, or to put it simply live beyond our means.
OK! We know we are in debt. We know we should have managed our money correctly. How do we get out of this mess?
It’s God’s money we’ve mismanaged - Confess to God that you have screwed up and quit blaming God and everyone else. 1 John 1:9 "If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness."
Make a commitment that you will not go back into Egypt (slavery to debt).
Forgive - one of the biggest hindrances to God moving in the lives of His children is unforgiveness. Read the model prayer that Jesus gave us in Matthew 6:9-13. Notice verse 12 - "And forgive us our debts, as we forgive our debtors." We probably owe God thousands of dollars in giving that we haven't paid. We probably owe God a lot more than what other people owe us or have stolen from us. If God can forgive our debts should we forgive those who have wronged us financially? Read also Matthew 18:23-35.
Develop a plan to pay your debts and stick with it until you do get totally out of debt. You'll never be able to do this until you just get "sick and tired" of Satan stealing from you. You'll never be able to do this until you get fighting mad, take a stand, and put up a fight.
It is sad to say that many of you who are reading this manual do not have what it takes to take a stand and resist what the devil is doing to you. Many of you will lie down in the middle of the highway of life and give up as the world runs over you. Satan will make "Road Kill Stew" with your carcass.
Stop thinking of yourself as being in debt, poor, broke, sick, or in poverty. "For as a man thinketh in his heart, so is he: . . ." Proverbs 23:7 Your Heavenly Father knows what you have need of and He owns it all. He has angels standing by ready and willing to help you and deliver you but the angels are standing there with their hands behind their backs as if their hands are tied behind their backs. They cannot do anything to help us out of bondage or protect us as long as our words are nothing more than fear, doubt, and unbelief.
As long as we talk about how broke we are we will always be broke. You start talking words of faith and standing on God's word that he has already met your needs (calleth those things which be not as though they were) Romans 4:17. Take a stand. Stand on the word. Refuse to doubt - Don't talk about your lack - Say what the word says that you have in Christ Jesus.
The enemy seduces us with all kinds of material things (STUFF) into snares that choke our ability to serve and please God. That's why he works so hard to trap us. He knows that if he can keep us burdened down with debt and trick us into blaming God for our difficulties then he makes us ineffective witnesses for Christ. Aren't you getting tired of being used? Aren't you getting tired of being tricked? Are you getting mad yet? Are you mad enough to fight yet?
Throughout the Gospels, Jesus taught us to overcome the world and the lusts thereof. This world offers a little pleasure but it is so little compared to the pleasures that wait for the believers in the millennium and heaven. O my friend, if I could teach you one thing it would be to not get wrapped in your life here on this earth and the pleasures herein.
God allowed the devil to tempt Jesus as we are tempted. He tempted Jesus first when He was hungry and Jesus quoted the word back to him. Then Satan tried to get Jesus to tempt God and again Jesus quoted the word back to Satan. The last temptation was material wealth and power. I would dare say that Satan uses all three of these on us in subtle ways that we aren't even aware of. But, I believe today he is using the third one the hardest. He is using famous speakers and authors with the gift of gab that seduces us into focusing on gaining material wealth. The bookstores are full of these books that teach us to become more self-oriented.
These books seem like they are good for us on the surface because they teach us to achieve our full potential, to be all that we can be, and to be the best that we can be. Along the way, we can become so driven that the ones we love take second place.
We can become so driven that we run over other people that get in our way. Self-motivation in itself is not bad. It becomes bad when it makes us selfish, self-centered, envious, covetous, greedy, proud, and deceitful.
"Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap. For he that soweth to his flesh shall of the flesh reap corruption; but he that soweth to the Spirit shall of the Spirit real life everlasting. And let us not be weary in well doing: for in due season we shall reap, if we faint not." Galatians 6:7-9
"Be careful for nothing, but in everything by prayer and supplication with thanksgiving let your requests be make known unto God. And the peace of God, which passeth all understanding, shall keep your hearts and minds through Christ Jesus. Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good report; if there be any virtue, and if there be any praise, think on these things." Philippians 4:6-8
Jesus teaches us to not think about our lives or worry about what we don't have. He says to seek first the Kingdom of God and His righteousness and He will take care of our daily needs. (Matthew 6:25-34)
Warning Signs
Is it the 15th already? This month's bills are coming in before you've cleared the last month's. You meant to get to them, but you got caught up in other things. You're surprised to find that the phone bill is still there. Somehow you didn't get to the rent or send the dentist his check. You're frustrated when you begin to write the checks. There are more bills than you thought. It seems you are always behind.
You know what past-due notices look like. Your bank has been informed that you haven't paid your property taxes yet. Your American Express bill shows a balance from last month and reminds you that payment in full is required upon receipt. The hardware store sends a letter demanding that you send a check at once.
These things rarely surprise you. You don't slap your forehead and say, "Oh my gosh, how could I have forgotten?" You avoid opening letters for fear of new bills or trouble with a creditor. The only mail you're truly comfortable with is from friends or relatives - unless you owe them money too. Bills and letters from creditors get put in an ever-increasing pile on a corner of your desk or dumped into a drawer.
You rarely keep a running balance in your checkbook. These are just a few of the common warning signs of a serious problem with debt. Do any apply to you? Obviously, no one wants to admit that they have a problem with debt and practically everyone's first response is to deny it or attempt to justify it somehow. That's only natural. Debt can be extremely painful.
Your debts, whether you believe it or not, at this point are not crushing or hopeless. They are simply a problem - and one for which there is a solution. But no one ever eliminated a problem until they recognized, and admitted, that there was a problem. You can put your debts behind you forever by working the system outlined in this FINANCIAL BATTLE PLAN. You have already begun when you started reading this manual. I hope that you started at Chapter 1 and that you haven't skipped any chapters.
Why Am I In Debt?
Many books on the subject of debt management will lead you to believe that the reason you are in debt is that you mismanaged your money. This may be only a small part of the problem. Because of inflation, your household income is actually worth less this year than it was last year. Recent tax increases and reductions in deductible expenses have only served to compound this problem.
Years ago when a housewife went to work it was to bring extra money into the household. Today a housewife works to bring in the necessary money just to meet the monthly bills. More and more households are doing without just so they can pay the bills, and it's not all due to fiscal mismanagement. These days you simply need a larger monthly income to make ends meet.
The Bible is full of warnings about the snares of the devil. Satan is actively trying to steal, kill and destroy Christians and Non-Christians alike. Debt is a major stronghold that he has on America today. He knows that he can render Christians virtually ineffective. When Christians are spending all of their time worrying about how they are going to meet their bills, having to hold down two jobs, and their relationship with their spouse is not what is used to be then Satan has us right where he wants us.
The First Step to Reducing Your Debt
There are only two logical approaches to reducing debt. They are:
1. Cut Spending, and/or 2. Increase income.
When you are overweight you have to go on a diet to reduce calories for weight loss. When you are “over debt” you have to reduce spending for debt loss. Cutting spending is like needing surgery. You know it's going to hurt, but you will die if you don't go through with it. Putting your finances under the knife is no fun... until the healing begins.
As your finances heal so do your attitude, your marriage, your emotions, and your sense of humor. You must keep your eyes (and your checkbook) on the end result. You must always remember that your goal is financial freedom and, when the surgery is over, you can start to enjoy the good life without sacrificing your last dime just to have some quality family (or personal) time. You will finally be able to enjoy yourself without feeling guilty about spending money.
Stop using debt to acquire consumer products. Never, never, never purchase a stereo or any other consumer product on credit. Consumer products decrease in value and only keep you a slave to your creditor. By the time it is paid for a consumer product will be worth only a fraction of the original purchase price (not to mention the interest you paid). For example, a $1,500 stereo would be worth only about $750 after 17 months of $100 payments. By purchasing the stereo on credit you will incur a net loss of $1,051. That money could have been working for you, helping you increase your income.
If you had invested those monthly payments in a well-known investment vehicle your investment could be worth $2,641 after the same 17 months. By investing the same money into a lesser-known investment vehicle you would earn a net profit of $941!
Start putting your money to work for you instead of buying a lot of consumer products that will lose both their value and appeal over time. Begin investing your money with a good investment broker that you are familiar with. Every time you put money into this type of investment you increase your income and profitability.
Make a commitment to take the first step toward gaining control of your finances. Starting today you will never purchase consumer products on credit again. This is the beginning of the kind of financial thinking that will get you out of debt fast!
If you are really dying to have that stereo then start saving for it. Don't use a credit card. Save the money by investing it in a safe investment. When your fund reaches the price of the stereo, then buy it if you still want it. Chances are, however, that when your investment fund balance reaches $1,500 you will be so thrilled with the extra income you are earning (without any extra labor), that you will realize the stereo can wait until it won't take your last dime to buy it.
Consumer products are fun, and they do add pleasure to our lives, but if you can do without them for a few months or years, you will eventually have enough money to buy the best stereo on the market without any financial strain. Then the cost will be pocket change compared to your growing financial position.
Once you see your money accumulating in your mutual fund "Stuff" doesn't seem as important.
Every person who is financially free knows and practices these principles. If you are to become financially free you must become financially minded. You must make your purchasing decisions based on long-term financial goals. The reason rich people have money is that they know and practice simple financial principles like these.
Thanks to Christian men like Larry Burkett, Ron Blue, and others we are having a wake-up call to the reality that we don't have to put up with Satan's lies anymore. Christians, and Non-Christians, alike are waking up to the reality that debt is slavery and many have worked their way out of debt while many more have developed a plan and are working their way out of debt.
This manual is designed to help you to break out of the bondage of debt and to learn what real financial peace is. I like what Dave Ramsey say's, "You can't know financial peace until you know The Prince of Peace, Jesus Christ.
I trust that this manual will not only help you to overcome financially but will also help you to get to know my Lord and Savior in a personal way if you don't already know him.
If you do already know him my prayer is that you will grow stronger in faith and become a doer of the word and not just a hearer only. (James 1:22)
One last thing I want to say to you. This is my ministry and its purpose is to help others overcome the bondage of debt. My ministry is simple and easy to understand.
My purpose is not to make money or charge a fee for helping those that are hurting financially. It's NOT ALL ABOUT MAKING MONEY OR GETTING RICH!
It is about our purpose: Jesus said in Matthew 25:31-45,
The Sheep and the Goats
31 “When the Son of Man comes in his glory, and all the angels with him, he will sit on his glorious throne. 32 All the nations will be gathered before him, and he will separate the people one from another as a shepherd separates the sheep from the goats. 33 He will put the sheep on his right and the goats on his left.
34 “Then the King will say to those on his right, ‘Come, you who are blessed by my Father; take your inheritance, the kingdom prepared for you since the creation of the world. 35 For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in, 36 I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.’
37 “Then the righteous will answer him, ‘Lord, when did we see you hungry and feed you, or thirsty and give you something to drink? 38 When did we see you a stranger and invite you in, or needing clothes and clothe you? 39 When did we see you sick or in prison and go to visit you?’
40 “The King will reply, ‘Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.’
41 “Then he will say to those on his left, ‘Depart from me, you who are cursed, into the eternal fire prepared for the devil and his angels. 42 For I was hungry and you gave me nothing to eat, I was thirsty and you gave me nothing to drink, 43 I was a stranger and you did not invite me in, I needed clothes and you did not clothe me, I was sick and in prison and you did not look after me.’
44 “They also will answer, ‘Lord, when did we see you hungry or thirsty or a stranger or needing clothes or sick or in prison, and did not help you?’
45 “He will reply, ‘Truly I tell you, whatever you did not do for one of the least of these, you did not do for me.’
46 “Then they will go away to eternal punishment, but the righteous to eternal life.”
Who are the Wealthy? - How To Win The War On Debt - Chapter 4 Revised February 1, 2022
Who are the Wealthy?
As I mentioned in an earlier lesson, my mom always told me, "Son, it’s not how much money you make that is important, it’s how much you keep." Isn't that wise training to give your children? She is so right. I know of people that have great jobs and earn six-figure incomes, but they are just barely getting by because of debt.
At the time I wrote this book my mom was 63 years old and worked in a kitchen of a nursing home for a little over minimum wage. My mom was a saver and a giver. I would say that my mom was more wealthy than many people making a six-figure income. She was totally out of debt plus she had a nice little nest egg that she's built toward retirement.
It really does not matter what the size of the income is. What matters is whether you are in bondage (like the children of Israel were in Genesis) to debt (your Egypt) or whether you have been freed (from the debt of slavery).
How did we get into this bondage? How did we become slaves of debt? The answer is simple. You've been lied to and deceived. You've been tricked and you've let the cares of this world and the deceitfulness of riches blind you. We all have. We were weak and unskilled in the tricks of the devil. Satan is like a roaring lion seeking whom he may devour (1 Peter 5:8). He wants to sift you like wheat. We've been like dumb, fat pigs living off of Satan's slop while we wait to be slaughtered. We did not even know that we should take a stand and refuse to take the stuff that Satan does to us.
God sent Jesus to live among us to teach us this lesson but the modern church has lost sight of the "Big Picture" that Jesus taught us. Jesus said, that the enemy has come to steal, kill and destroy, but he come to give you life and to give it to you more abundantly. He is a good shepherd. He gave his life for his sheep to redeem us from the hand of the devil. (John 10:10)
Jesus bleed and died for us not just so that we could go to heaven, but to restore us to the authority that Adam had before he was deceived. Jesus' ministry was devoted to teaching us how to prosper and be in health in health in this life as well as the life to come.
God wants us to arm ourselves so that we can resist the devil and he will flee from us. (James 4:7) God wants us to put on the whole armor so that we are able to stand up against the tricks of the devil. For our battle (debt) is not with flesh and blood (people), our battle is against principalities, powers, rulers of the darkness of this world, against spiritual wickedness in high places (classes of evil spirits). Ephesians 6:12
God gave us the tools and the weapons to overcome what the devil tries to do to us. He expects us to exercise faith in Him and His word. He expects us to arm ourselves and take a stand and fight. The weapons of our warfare are mighty to the pulling down of strongholds mentioned in Ephesians 6:12. (2 Corinthians 10:3,4)
God wants us to even bring our thought life under control (2 Corinthians 10:5). Our thought world is where our trouble begins. This is where the demons attack you. You cannot see them so you are not even aware they are talking to you. They whisper thoughts to your mind all day and all night.
We think the demon's thoughts are our thoughts but they do not become our thoughts until we "take the thought", dwell on it, and then speak it. The power of good and evil comes as a result of the words we speak.
Take the time to listen to the thoughts that come into your head during the day. Listen to yourself talk. Do you ever hear negative thoughts like, "I'm not very good at this", "I'm not as smart as other people", "I cannot remember as well as I used to" etc? I must admit I've been guilty of that too.
If you are hearing these kinds of negative self-talk, which I'm sure that you are, then you are hearing words of doubt and unbelief in yourself. It is not any wonder that there are so many sick and struggling Christians in the Churches today. We have listened to the lies of the devil for too long.
Even our well-meaning parents often times feed us negative feedback as children. It was to protect us, to keep us from harm but unknowingly it built in a doubt system that hinders our trust in God. We are so full of limitations that our subconscious mind works against us.
Little children are able to have more faith than grownups because they have not been fully programmed in doubt and unbelief. Jesus wants us to come to him with childlike faith. Think of your own children, if you have any. Think about how they totally trust you.
In the next few pages, we will learn how to set up and operate an accountability system called a budget. This system is designed to help you gain control of your finances until are freed from debt. This system is not designed to put you in another type of bondage. You can adjust the system to what works best for your situation. If you don't then you will become discouraged and quit too soon.
"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." Jeremiah 29:11
Affirmations: My God meets all of my needs according to his glorious riches in Christ Jesus. Philippians 4:19
"Do not let your hearts be troubled. Trust in God: trust also in me." John 14:1
"In this world, you will have trouble. But take heart! I have overcome the world." John 16:33
Fear is the darkroom where negatives are developed
The theme of this course: Depend on and trust in God Handle money responsibly, Give generously, Save mightily, Work industriously, Invest wisely
"Put his money to work," he said, "until I come back." Luke 19:13
Give first, save second, and live off of the rest. This is our success formula.
"Get all you can. Save all you can. Give all you can." John Wesley
Happy is a person who has learned to hold the things of this world with a loose hand.
Worry is like a rocking chair; it will give you something to do, but it won't get you anywhere.
"Work and play are words used to describe the same thing under differing conditions." Mark Twain
First, give yourself to God. Then giving your possessions will be easy and joyful.
"Whatever you do, work at it with all of your heart, as working for the Lord, not for men, since you know that you will receive an inheritance from the Lord as a reward." Colossians 3:23,24
"Piling up" money beyond reason or consumptive lifestyles is forbidden just as clearly as adultery. (1 John 2:15-17)
The first step to controlling your finances is to balance your checkbook every day. (Carrying a checkbook is out of style nowadays, so check your balance on a software program like Quicken is a good way to keep track of your balances.
"There are two ways to have enough money: One is to continue to accumulate more. The other is to desire less." G.K. Chesterton
The second step to controlling your finances is like building a house - draw up your plans (budget) before you start.
How You Can Develop Your Financial Blueprint.
"Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying, 'This fellow began to build and was not able to finish.'" Luke 14:28-30
Plan ahead - it wasn't raining when Noah built the ark.
"Money management is not so much a technique as it is an attitude. Unless one achieves Self-control, his no more likely to control his money than he is to discipline his habits or his time. Undisciplined money usually spells an undisciplined person." Robert J. Hastings
Now we are getting down to the hardest part. From here on what I call a "financial diet". When you hear the word diet you think of reducing calories and losing weight. In a financial diet, you are reducing spending and losing debt. Sounds simple, doesn’t it. The steps are simple, but like losing weight you have to stay committed to your plan in order to succeed. Develop your plan and stick with it.
Give first - If it is just impossible then hold off until you dig yourself out of debt some. God will help you dig out if you will stand on his word and refuse to fear and worry
Pay yourself second. Start your emergency fund now. Build up to $1,000 and then stop for a while. Your goal should be to build enough cash equal to three to six months of living expenses.
Credit Cards: If you cannot control your credit card use, then cut up all credit cards including gas cards, department store cards, MasterCard, and Visa. Pay cash for everything. If you just cannot bring yourself to cut all your cards then you can keep one card as long it has a zero balance. Never use a credit card as an emergency fund.
When you are applying for a mortgage loan the loan officer will not look favorably on your application if you have several credit cards, even if you have zero balance on all of your credit cards. This is because you have too much easy credit available and can get into trouble too easily. Your credit rating will look better if you only have one card and pay it off each month.
Credit cards can be a good thing as long as you are disciplined enough to pay them off every month. The way I used to do it is when I charge something I write it down in my checkbook just like I had written a check. I subtract the amount from my balance so when the bill comes in I have enough to pay off the bill. If I don't have enough in my account to cover the charge then I don't charge it.
If you ever find yourself not able to pay the balance off in any given month then cut up this card as well. If you have several credit cards and they are charged up to the max then I would suggest that you cut them all up and mail the pieces back with your next payment. Always try to pay more than the minimum payment or you will never pay off the credit card.
Bank Debit Cards: Get the kind that works just like a visa so that you can use it when you travel or for your everyday purchases. Every time you use it you can write the amount down in your checkbook (as I used to do) and subtract that amount from the balance.
The only negative to this is if you return your purchase it can take days or weeks for the money to be put back in your account. Cash is better, that is if you are comfortable with keeping up with cash.
Overdraft protection: If you don't have overdraft protection on your checking account then I would suggest that you open an account in a bank that has totally free checking and apply for the minimum overdraft of $300 (unless you know you will deliberately use it)...” This is not so that you can spend more than you have - it is just for your protection should you make a mathematical error or forget about an entry. I would also suggest that you order checks that have the carbon page so that you will never forget what your checks were written to and how much.
Do not carry your checkbook around with you because you may be tempted to spend when you really do not need to spend.
Write yourself an allowance check to cover your expenses like eating out, entertainment, newspapers, magazines, groceries, dry cleaning, and laundry. You can use the envelope system if that works for you. Decide on the amount you need and you become your own banker. Cash that checks and uses only that cash. Learn to say no.
Note: I know it's now the year 2023 and many people do not agree with carrying cash. For some, they have never been taught how to pay with cash and how to figure out the exact change. It's easier for these people to use other forms of payment.
Debt Snowball: Make a list of all of your debts. Start with the smallest one and pay more than the minimum payment - 25 to 40% as mentioned earlier. When you get it paid off take the payment and add it to the payment that you were paying on the next highest debt. As the momentum gets going the snowball will get bigger and the debt will get paid off faster and faster.
Automatic Deductions: Use the automatic deduction system no matter how strapped you are for cash. Have your 401K deducted from your salary at work. Decide how much you want to save each payday and have the amount drafted from your checking account into your money market account or mutual fund account. You will tend to make sure that you have enough in the bank to cover those PACs (pre-authorized withdrawals).
ATMs - Don't use automated teller machines. They are too convenient and cause impulse buying for many people. Don't carry around too much cash either. You believe you can afford things you don't need if you have the cash on you.
Never Pay Retail. Never buy at the mall unless it is after the season and everything is marked down from 50% to 75% off. Today you can buy almost everything you need online for less than what you pay at your local retail store.
Track where your money goes. Get yourself a spiral notebook and write down every cent you spend for two months. Before you were wondering where you're money was going. Now you will be able to see if there is a pattern that needs to be corrected. I prefer to enter my income and expenses in my Quicken program because I can easily print out reports to see where my money is going.
Lower your cell phone costs - shop several different carriers until you find a plan that will fit your budget. I personally switch to Consumer Cellular because my monthly rate is only $35 and I get excellent coverage that us just as good as the two major carriers.
If you are still using a landline for home your home telephones then you are probably paying too much. If you have cable then your cable provider may provide a better phone service or you may want to try Voice over IP through your internet carrier. I typically don't recommend this type of service.
Cut your homeowners insurance by increasing your deductibles. Talk to your insurance agent first before making any changes. The reductions may not be enough to justify the change. Most insurance agents will be glad to work with you in reviewing your insurance and setting up the plan that is best for you and your budget.
Reduce your auto expense. Buy good used vehicles instead of new ones. Check with your auto insurance agent before you buy. Do not buy a car that is too costly for your insurance budget.
Save money on auto insurance. Increase your deductible to $500 (if you have your $1,000 emergency fund in place). More on insurance in a later lesson.
Buy big-ticketed items out of season. Air conditioners are like swimsuits. When the temperature goes down, so do the prices.
Cancel Service Contracts. Never sign up for them. They are not worth the expense.
Open a Money Market Account Emergency Fund. A money market account has a little more risk factor than a passbook savings plan but usually does pay a higher rate of return. A money market account does have check-writing features in case you do have an emergency. Your next best emergency fund would be a growth and income mutual fund. There are mutual funds that allow investments as small as $25 to $50 per month and they can draft your account each month.
Note: your emergency fund must be liquid. Meaning that you can get the money out of your account immediately. Bank CDs, Insurance Annuities, and other investment vehicles may take time before you can get your money.
Sell some of your assets to pay off debt. Have a yard sale, advertise on Craigslist, Facebook, or any free posting service.
Barter. Barter for something or some service that you need. My wife owns a beauty salon and barters services with her attorney, a contractor, a chiropractor, and a massage therapist.
Start your own part-time business - I accidentally discovered that I was sitting on a gold mine in my own home. I started reading books about selling online and quickly discovered how I could sell my old books, movies, and music CDs that I never use anymore. I listed a few items on eBay and Amazon.com, and before I knew it I had orders almost every day for items that I was going to either donate to Good Will or sell in a yard sale for less than 1% of their value.
Next, I decided to branch out and sell in other areas and listed books, movies, and music on Half.com, I sometimes sell my friend's items, for a small finder’s fee, on Craig’s List, eBay, and Amazon.com.
Another area for you to make money is to become an affiliate. I am an affiliate for several different companies. See my website: https://thebuysellnetwork2.blogspot.com/
If you are good at writing you may want to publish your own eBook and make money selling your eBook(s) online. You may even want to start selling eBooks written by other publishers. Information is one of the hottest products that sell online.
I also recommend that you become an affiliate for ClickBank. Just go to http://www.clickbank.com to register. I have been an affiliate for several companies on ClickBank. There are some great videos on YouTube.com where you can learn out to be a success in selling ClickBank products.
If you have an interest in a particular product you may want to become a distributor and sell products online.
To become a distributor for a particular company or companies, that will drop ship your orders go to:
Find your niche products and register with the company or companies that will take care of all the packing and shipping for you.
Avoid Bankruptcy - bankruptcy used to be an easy way out when you couldn’t pay your bills. The laws have since changed and it’s not an easy way out any longer. I recommend that you consult with a professional tax advisor or attorney regarding this subject.
God's Attitude Towards Money and Wealth
Principle Scripture Reference
God owns it all - We are stewards, not owners - Faithfulness in the use of money is basic to receiving God's blessings ... Luke 19:13-27 Matthew 25:14-30 Romans 14:12 Luke 16:1-13
God's blessings make us rich in spiritual blessings:
(Note: build your treasure in heaven - the riches of this world will not last but your treasure in heaven will last for an eternity
God rewards those who give: (Your homework is to look up these verses for yourself - don't take my word for anything I say - do your own research and draw you're on conclusions)
- Proverbs 10:22
- Ecclesiastes 5:19
- Malachi 3:10
The love of money is wrong:
- Luke 12:15
- 1 Timothy 6:10
You cannot serve both God and Money (Mammom):
- Matthew 6:24
We are responsible for what God has provided:
- Luke 12:47, 48
- Luke 19:15
God Instructs us to DO These Things
Principle Scripture Reference
Depend on God - for everything - He is your source
- Philippians 4:19
- John 14:1
Keep your promises - Debts must be paid:
- Ecclesiastes 5:4, 5
- Psalm 37:21
Pay your taxes - Must know and obey the laws of the land:
- Luke 20:22-25
- Romans 13:7
Be reasonable - Be content - Have a moderate standard of living:
- 1 Timothy 6:6-8 Hebrews 13:5
Be faithful even in small things:
- Matthew 25:23-30
Make plans - Be wise:
- Luke 14:28-30
- Proverbs 21:5
- Proverbs 24:3, 4
Giving is important - Give out of love - Give cheerfully:
- 1 Corinthians 16:2
- Proverbs 3:9, 10
Giving stores up treasures in heaven:
- Malachi 3:10
- Deuteronomy 26:1, 2, 10, 11
- 1 Timothy 6:18,19
- 2 Corinthians 9:6-11
- Matthew 6:19-21
- Luke 11:42
Expect to receive as a result of giving:
(Note: I am not a "give to get" prosperity teacher, so please do not confuse my words with that false doctrine. I should have stated "Expect to receive a blessing as a result of your giving.)
- Luke 6:38
- Malachi 3:10, 11 9.
- Proverbs 15:22
- Proverbs 14:15
- Proverbs 13:20
- James 1:5
Investing is better than protecting against loss - Poor investing reaps the curse as found in the Parable of the Talents - Count the cost and evaluate an investment:
- Matthew 25:23-30
- Luke 14:28
Provide for your family
- 1 Timothy 5:8
Parents are to teach their children:
- Proverbs 22:6
- Psalm 78:4
A good man leaves an inheritance for future generations:
- Proverbs 13:22
Working in God's Plan:
- Colossians 3:23,24
God Instructs us to AVOID AND NOT TO DO These Things
1. Avoid pride:
- 1 Timothy 6:17
2. Avoid Greed:
- 1 Timothy 6:9,10 Luke 12:15
3. Avoid hoarding money:
- James 5:3
4. Do not be anxious about the future - Do not worry:
- Matthew 6:25-34
5. Do not try to get rich:
- Proverbs 28:20
- Proverbs 13:11
6. Do not co-sign for another - Borrow with caution
- Proverbs 22:26,27
- Proverbs 22:7
- Proverbs 11:15
7. Do not love money:
- Matthew 6:21, 24
8. Do not rely on the uncertainty of riches:
- Timothy 6:17-19
Food for thought - Read the parable of the talents in Matthew 25:14-30 - There are many valuable lessons in this parable but one that really sticks out in my mind.
We are to trust God for our supply but HE expects us to do something with what he gave us. Notice the servants were not the owners of the talents - they were the managers of the talents.
The Master expected each of the three servants to do something with the talent to reap a return on the Master’s talents.
The Master gave each man a different amount, based on the servant’s ability. Notice the servant with the smallest amount and the easiest to reap a return buried the Master’s talent, but the two that had the larger amounts could be trusted with more.
The other two servants invested their talents wisely and reaped an abundant return on the Master’s investment.
Is the Master able to trust you with talents to invest for a return for HIM?
What Are You Worth?
Assets (at Sales Value)
- Cash (checking, money market accounts, savings, CDs) $___________
- Invested Accounts Insurance and Annuities$____________
- Stocks and Stock Mutual Funds $____________
- Bonds and Bond Mutual Funds $____________
- Partnerships $____________
- Residence $____________
- Other Real Estate $____________
- Notes and Deeds of Trust $____________
- IRAs and Other Retirement Accounts $ _______
- Other Assets $ ________
- Total Invested Assets $_____________
- Furnishings $____________
- Automobiles $____________
- Boats $____________
- Guns $____________
- Jewelry $____________
- Collections $____________
- Other $____________
- Total Personal Assets $ __________________
Liabilities
- Secured Liabilities Mortgage on Residence $____
- Automobile Loans $____________
- Notes and Trust Deeds $___________
- Loans against Life Insurance $____________
- Other $____________
- Total Secured Liabilities $______________
- Bills Due $____________
- Personal Loans $____________
- Other $____________
- Total Unsecured Liabilities $______________
TOTAL LIABILITIES $______________
Total Assets $______________
- - Total Liabilities $___________
- =Total Net Worth $____________
MONTHLY INCOME AND EXPENSE PLANNING For (month)______________
GROSS INCOME PER MONTH $_________
- Salary/Commissions $_________
- Interest $ __________
- Dividends $ __________
- Other $__________
- LESS:
- Taxes $__________
- Giving $ __________
2. NET SPENDABLE INCOME _____$_________
3. Pay Myself (Emergency Fund) ____$________
4. Housing _____________ Total $________
- Mortgage $__________
- Insurance $__________
- Taxes $__________
- Electricity $__________
- Gas $__________
- Water $__________
- Sanitation $__________
- Telephone $__________
- Maintenance $__________
- Other $__________
5. Food _______________ Total $_______
- Groceries $__________
- Eating Out $__________
6. Automobile(s) ___________Total $_______
- Payments $__________
- Gas & Oil $__________
- Insurance $__________
- License/Taxes $ __________
- Maint/Repair/Replace $__________
7. Insurance _______________Total $______
- Life $__________
- Medical $__________
- Other $__________
8. Debts __________________Total $______
- Credit Card(s) $__________
- Loans & Notes $__________
- Other $__________
9. Enter. & Recreation _________ Total $_____
- Movies/Rental $__________
- Baby Sitters $__________
- Activities/Trips $__________
- Vacations $__________
- Other $__________
10. Clothing _________________Total $_____
11. Medical Expenses ___________Total $_____
- Doctor $_________
- Dentist $_________
- Pharmacy$ _________
- Other $_________
12. Miscellaneous ______________Total $_____
- Beauty Products $__________
- Hair Care $__________
- Laundry/Cleaning $__________
- Allowances $__________
- Lunches $__________
- Subscriptions $__________
- Gifts $__________
- Cash $__________
- Other $__________
13. School/Child Care ___________Total $_____
- Tuition $__________
- Materials $__________
- Transportation $__________
- Day Care $__________
14. Investments _______________Total $_____
15. Other Expenses Not Listed _____ Total $_____
- _________ $ ________
- _________ $ ________
- _________ $ ________
- ___________ $ ________
TOTAL EXPENSES ____________ Total $_____
INCOME VS. EXPENSES
Net Spendable Income __________Total $_____
- Less Expenses $_________
- Balance __________________Total $ _____
Unallocated Surplus Income ______Total $ _____
Crown Financial - Free Calculators
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