"Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest."
(2 Kings 4:7 KJV)
"For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?"
(Luke 14:28 KJV)
If you have tried the exercises described in the first two parts of this personal finance series, you have the beginnings of a Financial Plan for your family. However, as it stands, it is a simplified effort lacking the assistance and reviews that come with a more complete program like Dave Ramsey’s Financial Peace University. Be assured that each family is different and needs to have their financial planning work overseen by an objective, knowledgeable mentor beside those implementing it. This mentor will watch out for Possible Problems that may cause your Financial Plan to fail. (This will help your children as well as yourself). These include (your family may have more problems): 1) Emergencies, 2) All people with access to the family money are not committed to the plan, 3) Failure to keep daily records of money spent and amount that is left. If you know of other potential Possible Problems, add them to your list. The Possible Problems and their answers will differ from family to family but they must be provided for before starting on your plan, if possible. A complete program, as above, will discuss options and help you choose what is right for your family.
Our Awesome God wants your devotion and your obedience. It distracts you from God if your finances and your debt are out of control. If you have accurately followed #1 and #2, (#1 is the hardest to get right) you have a plan to pay for your bills, taxes and needs. The remaining money can be used to give to God, to provide for the Possible Problems to reduce your debt and allow for some wants, all of which will become part of the plan.
Starting on your plan may not be easy since you have to give up many of your wants. This is temporary because one purpose is to reduce your "must pays" so you can increase your giving and have more of your wants. So get your Needs and a 6 months' average income together. Our Awesome God wants to bless you even more than He does now but you need to know how to handle those riches when He gives them to you. There is one more important tool for your plan. On Sunday, May 24th, we will discuss the Budget as a part of the Financial Plan.
Join us at Living Word Baptist Church at 10:30 AM every Sunday and Bible Study is at 6:00 PM on Sunday evening. We have an Intercessory Prayer Team and Bible Study at 7:00 PM Monday and Wednesday. Learn with us how to use and invest your time and money with wisdom for Our Awesome God!
Flo & Bill