Many people get laid off, receive less pay, and have their overall assets reduced during times of stock market correction, recession, and depression. One has only to review the history of the U.S. and world economies to recognize that these times will come. Yet, by failing to save, invest, and live in accordance with biblical principles many people act as if they’re oblivious to the fact that these economic situations will arise at some point.
Unfortunately, most people engage in personal money management practices that will land them in financial turmoil at some point in their lives, especially when several of the major markets are down, such as stock and real estate. Turmoil 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 their current income and assets. Many also fail to honor God by giving him a tithe for the spread of 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.
They fail to realize that you cannot listen to anyone who tells you a specific investment method or type of business is successful for everyone who uses it. The only time you want to listen and obey such advice is when the bible says that all believers should following specific principles or methods such as diligently performing a god-pleasing type of work, tithing, spending far less than 89% of your gross pay, saving, investing, eliminating current debt, and refusing to take on future debt, etc.
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. When you engage in such risky get-rich-quick endeavors you will suffer foreclosure, bankruptcy, unrecoverable losses, and/or great discomfort for a lengthy time in order to get back to the place where God wanted you to be all along.
God has done preventative maintenance by putting investment principles in the bible that help us overcome the severe effects of economic downturn. This doesn’t mean that 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 your lifestyle, giving, saving, investing, and recovering losses when you consistently make two actions part of your financial plan:
1) Diligently work 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.
2) Diversify assets by buying seven or eight different types of investments.
These principles help you overcome the downturns that affect every investment market. Historically, down markets do not affect every industry or investment at the same time, so using these two principles allows you to be in a place where you’re not negatively affected or moved by current economic winds. You can spend whatever income you receive to meet your needs without having bill collectors chasing you to pay debts you cannot afford. Also, you have a much greater possibility of annual asset growth when only a few markets are down at the same time because the growth of investments you have in markets that are up have an opportunity to outweigh the losses you will experience in markets that are down.
As you can see, God has provided insulation against economic upheaval, but you must do your part to employ His plan so you are always in a position where you can come out ahead no matter what economic / financial obstacles come your way.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Deuteronomy 28:12-14, Ecclesiastes 11:1-2, Acts 6:3, Romans 13:8
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You can find books authored by Randy and Karen Parlor at www.Amazon.com.
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