MoneyWalk 234: Cosign And Have Your Assets Taken

This program will help you undo financial bondage.

Cosigning is making an agreement with a person or entity to pay debts taken out by someone else. Such agreements require you to pay the monthly loan payments or the full amount when the person becomes delinquent on his payment of the loan (regardless of whether he is unable to or simply decides not to make good on the loan). Allowing someone to use your credit card technically puts you in the same situation because your contract with the credit card company requires that you pay all charges you authorized on that card.

A person’s request for you to cosign to cover his debt may not look like a bad thing when the appeal is being made to you and such request have a lot of emotional appeal behind them because many of the people that would ask you to do appear to need help maneuvering the financial landscape of life. Yet, it will cause you immense emotional pain, heartache, and financial turmoil when they do not make the monthly payments or pay off the debts as contracted and expected.

It is generally an irresponsible action to cosign for someone given that the vast majority of these situations wind up with the other party not paying as agreed and thus forcing collectors to come after cosigners. It is also irresponsible considering that you don’t have enough in liquid assets to fully cover the total debt if you’re ever responsible for paying it. These situations will negatively affect your well being and that of your family and leave you in a tumultuous financial and relational state.

Cosigning arrangements do not work any better among family members and close friends. Often, the fallout from these situations causes separation of friends and many times ill feelings and un-forgiveness toward one another.

You need to respect that the financial institution does not consider the requester’s personal financial situation healthy enough to sign for his own debt and that these institutions are experts at judging the likelihood of repayment by people with particular financial profiles. Then, just say no!

Otherwise, a significant amount of your disposable income will soon be spent paying off debt taken out by other people (that you could be using to build wealth) and your credit will be wrecked, no matter how much income you bring in, because you are persuaded to cosign for irresponsible and untrustworthy people. You must pray and watch those that labor among you knowing that all have sinned and fallen short of the glory of God. In so doing, many have learned bad habits in the financial arena of their lives. Then, you must choose not to repeat their mistakes and not to help them continue to make such mistakes. The best way to help the ones you can help is to use available cash, at a level that will not impoverish your family, when you see a true need and believe you are supposed to be a party to resolving it.

Another thing to consider is that your help is not often the whole solution to deep problems of need, poverty, and financial troubles experienced by other people. While there are times that the Good Samaritan response may mean that you offer financial and other resources, yet there are other times when the Apostles Peter and John’s response is needful, “Silver and gold have we none, but such as we have we give unto you – in the name of Jesus Christ be made whole.”

You should want to be a good steward and allow God’s process to build the type of wealth necessary for your Good Samaritan experiences but also desire spiritual discernment so you can truly detect what is needful and be able to give the Word, encouragement, prayer, healing, and/or deliverance that sets the captives free and gives them the impetus to take on the responsibility and discipline needed to be good stewards and prosper in the future.

Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!

Proverbs 11:15, 17:18, 20:16, Romans 13:8, Ephesians 5:15-17

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You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com

MoneyWalk 233: Do Not Be In Bondage To Lenders

This program will help you undo financial bondage.

Borrowing money is not the way to have a comfortable lifestyle because debt places you in a very uncomfortable position. It causes most people to waste their wealth building ability trying to have things they want right now believing that’s what will make them happy in the long run. It also puts most people in financial bondage leaving them unable to adequately handle emergencies, living expenses during job layoffs, and other situations that require substantial infusions of cash.

Certainly, it’s not wrong to want things or to have things. Yet, when your outgo exceeds your income, your upkeep will be your downfall. Likewise, when you do not have substantial assets to produce income to provide for you and family during periods of low or no income, your monthly loan payments will be your downfall. You must learn that all things come in time – the right time; when the Lord has provided for you in such a way that you are able to, without debt, purchase the things you desire while maintaining a healthy emergency fund and growing asset base that will be able to provide income for your retirement / refirement years so you can pursue your passions (ministry, etc.) while enjoying the type of comfort you will need during those years.

If you do not work on being a good steward, creditors will continue to press you for payment in your worst financial position that will last much longer that you thought possible. The bible emphatically instructs you to avoid this trap knowing that it’s easy for "a borrower to become a slave to the lender." If you want to experience financial bondage and misery at crucial points in your life, many times when you least expect it, continue to follow the profligate ways of the world.

However, there is far better option available to you. You can put yourself in the condition of a lender instead of a borrower. This lender has few if any debts, more than adequate monthly income with far less in expenses, and a level of assets that is many times larger than debt that might be owed. In this position you will reap the financial benefits you currently pay your lenders.

Start your freedom from bondage process by cutting up your credit cards, leaving at most one low cost major credit card only for convenience in paying for drastic emergencies. Tithe as instructed by the Word. Set up a $1,000 emergency fund. Then use all disposable income above your current minimum monthly bill payments to pay off your non-mortgage account with the lowest total debt owed. When that is paid off, then use all disposable income to pay off the next lowest debt and so on.

Trust God to provide what you need and do not have cash to buy. Once your non-mortgage debts are paid off, increase your emergency fund to at least $10,000 and then invest the amount in your 401k or 403b that is necessary to get your company’s match. Use vehicles historically proven to bring reliable higher yields over the long term. Now, use disposable income as extra monthly mortgage principle, so your house can be paid off within seven years. Once this is paid off, then put the bulk of the increase monthly disposable income into investments in your 401k, 403b, Roth IRA, and other brokerage accounts and allow the market to do its long-term work of bringing you great investment growth.

By exhibiting patience, contentment, and self-control while committing to this plan your debt will be eliminated in due time and you'll accumulate wealth over the remaining course of your life. You'll then be a lender making money off the interest and growth you get from your savings and investments and, to a far greater degree, you’ll be able to give to kingdom ministry endeavors and those in need.

Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!

Deuteronomy 28:12, Psalms 37:21, Proverbs 22:7, 27:23-24, and Romans 13:8

Please forward these bondage breaking articles to other people who can use helpful insight!!!

You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com

MoneyWalk 232: Tithe and Offering

This program will help you undo financial bondage.

Honor God with tithes and offerings. Don’t rob Him. Do all you can to open the door for His supernatural protection against the devourer who is lying in wait to attack you and wreak havoc on your life and finances. Do not trap yourself in a negative financial condition by failing to give the LORD the portion of your income that He commands. After all He allowed all of it to come to you through work and His blessing.

What could be worse financially than failing to honor Him in proportion to the blessing He allows in your life and failing to follow His instruction that would lead to greater blessing in the future. When you don't honor God first, in effect you put greater priority and importance on yourself and everyone else you spend on, give to, or pay portions of your income to. This opens the door for frustration and heartache to reign in your life instead of the peace and joy that God desires for you.

Some people don't have money to do things they want to do and can't seem to save money for future needs. Many times, the solution to their dilemma is found in faithfully honoring the Lord who provides for them and holds the key to their future. He promised to open the windows of Heaven for you and pour out a blessing you won't have room enough to receive when you faithfully tithe and give offerings.

A tithe is one tenth of your gross income. Offerings are any amount beyond the tithe that you choose to give. They should be given cheerfully as you purpose in your heart to your local church and other ministry endeavors for the care of the Church (believers), and the resources needed to evangelize, make disciples into mature believers, and reasonably care for those whom God has placed in authority in your local church to feed His flock. It has been shown time and time again that God generously provides for those who faithfully tithe and give offerings to support ministry works that bring other people to Christ.

Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!

Genesis 14:20, Malachi 3:8-10, Matthew 23:23, and Hebrews 7:8

Please forward these bondage breaking articles to other people who can use helpful insight!!!

You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com

MoneyWalk 231: Be Patient And You’ll Reap The Harvests!

This program will help you undo financial bondage.

Don't be weary in well doing for in the proper seasons you shall reap many benefits because all things work together for good to those who love the LORD and are called and obedient to His purpose. An abundant harvest awaits everyone who diligently uses biblical principles.

Over time, your money management plan will rid you of negative financial habits and condition you to use positive principles and methods to increase your wealth. By committing to biblical principles now, your financial condition will get better and you will see results in due time.

The good seed you sow by planning and limiting your expenses to live within your income, giving to church ministry, and helping others as you are able will be multiplied back to you many times running over. You will begin to see the fruit of your financial planting continually springing up all around you.

No doubt, struggles and difficult situations will present obstacles for you to overcome because satan and the demonic forces don't want you to prosper as this allows you to properly minister to yourself, your family, and others by supporting evangelism and the spread of the gospel through disciple-making. However, as you walk by faith with patience and properly manage the income you currently receive, your heavenly Father is sure to rebuke the devourer of your finances and pour you out a blessing that you won't have room enough to receive.

Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!

Proverbs 20:21, Galatians 6:9-10, Hebrews 10:36, James 1:2-4

Please forward these bondage breaking articles to other people who can use helpful insight!!!

You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com