This program will help you undo financial bondage.
Many
people get laid off, receive less pay, and have their overall assets reduced
during times of economic recession and depression. One has only to review the
history of the U.S. and world economies to recognize economic downturns usually
come every eight to ten years or so and last about eighteen months. Yet, by
failing to save, invest, and live according to biblical principles, many people
act as if they’re oblivious to the fact these downturns will arise.
Unfortunately,
most people engage in personal money management practices that land them in
financial turmoil at some point in their lives, Problems occurs because they
continue to do things the world’s way like taking on ever increasing debt to
purchase material things beyond the reach of current and foreseeable income and
assets. Many also fail to honor God by tithing and offering to help share the
gospel of Jesus Christ and the work of the ministry. At the same time, others
spend all their resources on get- rich-quick business ventures and supposed
high-earning investment schemes marketed by people whose promises turn out to
be untrustworthy.
You should
not invest with anyone who tells you a specific type of business is successful
for everyone who starts one or invests in it, nor should you invest with one
who guarantees you abnormally high annual rates of return on your investment
dollars. Believers should only follow specific methods that align with biblical
principles such as diligently performing a God-pleasing type of work, tithing, giving,
spending far less than 89% of your gross pay, eliminating debt, refusing to cosign,
saving, investing without greedy motives, and diversifying assets.
Diversifying
investments in at least seven or eight vehicles (businesses, stocks, bonds, real
estate, etc.) is very important, otherwise the heavy concentration you make
in one investment or industry will usually turn into a financial downfall for
you, especially when you do not become an expert in how that market operates in
hopes of avoiding downturns or accumulating enough income and assets to weather
storms. Those who engage in get-rich-quick endeavors usually suffer
foreclosure, repossessions, bankruptcy, unrecoverable losses, and/or lengthy financial
discomfort.
God gives
you preventative maintenance instruction by putting investment principles in
the bible that help you overcome the severe effects of economic downturns. This
doesn’t mean you’ll never be touched by storms or that you should take no
business or investment risks. Every person will face obstacles and catastrophes
in life and every investment carries the risk that it may not grow and that the
investor might lose principal. However, you always have a better chance of
maintaining financial freedom and prosperity through downturns when you
consistently make three actions part of your financial plan:
·
Diligent work to earn and increase income
over time to get out and stay out of debt by regularly paying down and
ultimately paying off everything from credit card debt to car loans to home
mortgages.
·
Save a reasonable portion of your gross
income as an emergency fund that will help you make it through downturns.
·
Investing at least ten percent of your gross income
and diversifying assets by buying seven or eight different types of
investments.
Historically,
every industry does not have a downturn at the same time, so using biblical
financial principles allows you to be in a place where you’re not severely negatively
affected or moved by current economic winds. You can spend to meet your needs
without bill collectors chasing you to pay debts you cannot afford. Also, you
have a much greater possibility of annual asset growth because only a few
markets are down at the same time The growth of investments you have in markets
that are up have an opportunity to outweigh losses you might experience in
markets that are down. You must do your part to employ the LORD’s plan for insulation
against economic upheaval, so you are always in a position where you can come
out ahead no matter what financial obstacles come your way.
Deuteronomy 28:12-14, Ecclesiastes 11:1-6 Acts 6:3, Romans 13:8
Please pray for this ministry, forward these articles to other people who need helpful insight, and contact me to speak at your business or ministry conference or workshop. May the LORD bless you richly as you follow His plan!
The book at the link below provides
principles and practical steps that help you use the Power To Get Wealth. By 1992, we
had $135,000 of debt and a negative $35,000 net worth. Financial bondage and
turmoil led me to seek principles and a process for employing good stewardship.
As a result, we became constructively debt-free in 1998, mortgage free January
2004, millionaires in 2012, multi-millionaires shortly thereafter, and retired
in 2018 in my mid-fifties from public servant jobs while giving abundantly to
fund the gospel of our LORD Jesus Christ. The same power is available to you
https://www.westbowpress.com/en/bookstore/bookdetails/817195-power-to-get-wealth
You can find other books authored by
Randy Parlor and Karen Parlor at
https://www.amazon.com/s?k=Randy+Parlor&i=stripbooks&dc&qid=1573343045&ref=sr_nr_i_1
https://www.amazon.com/s?k=Karen+Parlor&i=stripbooks&ref=nb_sb_noss
You can also connect with Randy
Parlor on
Google BlogSpot
https://biblicalmoneymanagement.blogspot.com/
Facebook
https://www.facebook.com/randy.parlor
Twitter
https://twitter.com/RandyParlor
Linkedin
https://www.linkedin.com/in/randyparlor/
YouTube
https://www.youtube.com/channel/UCXnztOIesOKIrSd_H6c-8mQ
Instagram
https://www.instagram.com/randyparlor/channel/
No comments:
Post a Comment