This program will help you undo financial bondage.
*Loans to provide necessary food, shelter, and life-saving
services for your family when you are in deep poverty and cannot earn enough at
the present time to take care of the need and do not have more than enough
assets to cover the cost.
*Very low-interest rate loans to put into
guaranteed-interest investments offered by the most reputable firms that will
pay much higher interest on the money than you are paying to the bank in
finance charges. For example; borrowing $10,000 at 3% annually to invest the
money in a vehicle guaranteed to earn 7% annually.
*Minimal loans for business operations when one truly has a
viable product or service that can be sold for great profitability.
The vast majority of people are not in position to
pursue the first and second scenarios because they have a skill or ability that
can produce income so they never experience deep poverty and rarely can one
find guaranteed-interest investment vehicles that exceed loan interest rates.
Also, businesses and charities provide huge amounts of quality goods that
hardworking poor people can glean to provide themselves and family with necessary
food, shelter, and clothing. In addition, medical providers and hospitals often
provide pro bono or low-cost ways for impoverished people to get life-saving
surgery and will drastically reduce associated debts through negotiations. The
third scenario should be used only when your situation truly appears viable and
a select group of wise, godly, business savvy counselors are in place to help
you navigate the pathways necessary to produce ongoing profitability, otherwise
you’ll take unnecessary risk that harms you and your family, relationships, and
reputation in ways the Lord never intended.
So, don’t get into deep financial trouble worshipping at the altar of debt and credit scores by continually taking on more debt and refusing to engage a plan to eliminate what you currently have. The absolute best approach you can take to obtain financial freedom is to employ a singular focus and stop spraying in numerous directions trying to do a whole lot of other things that are not helpful right now. It is futile to think you’re going to be a good investor earning high returns when you cannot manage current income entrusted to you, as shown by having no emergency fund cushion, by barely being able to pay your bills (if you’re able to pay them at all), and by continually seeking loans from Peter to make payments to Paul. It is likewise futile to believe you can maintain a high credit score by taking on more debt when you are entertaining deficit spending in your monthly budgets.
Via singular focus, first engage tracking expenses against income to know where you are and what is lacking so you can, as necessary, increase income via second jobs and entrepreneurial endeavors and reduce spending. Next, build a first-tier emergency fund cushion so you never have to unreasonably rely on debt in the future. Once this is complete, engage a debt snowball elimination plan to get rid of all non-mortgage debt. Then, build your emergency fund to at least $10,000 or three to six months of household expenses. Now, you can begin to put at least 10% of your gross income (and more in the future) into investment accounts via direct deposit or bank / investment account electronic funds transfer automation. You’ll have so much monthly cash flow by now that you’ll also be able to establish secondary savings accounts for big ticket items and desires you want to purchase debt-free in the future. Also, you’ll be able to put large amounts of cash flow toward early payoff of your mortgage. About the only thing you may want to use debt for in the future is a property mortgage with a reasonable monthly payment given current income, for which you have built a sizeable down payment to greatly reduce the amount needed to make the purchase. As soon as this is secured, you should be engaging a plan to pay off this debt much earlier than the mortgage payoff schedule suggests.
The Lord wants you to be debt-free, in a financially
sound and asset rich position, instead of the poverty-stricken position of a
borrower. So, use the power He’s given you to release yourself from slavery (bondage)
to lenders and pursue the status of owing no man anything but love. This will
help you carry out His call and purpose to evangelize and disciple others and
have greater monetary means to tithe and give abundantly so your local church
and other ministries can do the same in your community and throughout the
world. In doing so, you will also be taking part in helping qualified widows,
orphans, and the poor.
Deuteronomy 15:7 and 28:12, Proverbs 22:7, Romans 13:8, 1Timothy 6:6-10
Please
pray for this ministry and email questions to parlor@ameritech.net and share the links below with others who
need guidance. May the LORD bless you richly as you follow His plan!
Share http://kminfo.org/ministries/financial-freedom weekly with family and
friends so these bondage-breaking articles and other financial information can
help them gain helpful insight!
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!
You can find books
authored by Randy and Karen Parlor at www.Amazon.com.
You
can also connect with Randy Parlor on Facebook, Twitter, Linkedin, Instagram,
Google Blogger, WordPress, Pinterest, TikTok, Tumbler, and You Tube.
No comments:
Post a Comment