This program will help you undo financial bondage.
An asset is a resource that translates to monetary value for purposes of trade with people who may one day desire to buy it from you, whereas a debt is something owed to a person, company, or corporation based on a loan or use of a service or product made available to you. Though not always the case, as with medical services, debt is often the result of borrowing to make large purchases that one could not afford to make with cash and often should not have made until he/she saved enough money to make the purchase.
Using a computer spreadsheet, word document, or piece of paper make an Asset column and underneath describe each individual asset you own (property, stocks, bonds, savings, vehicle, business, etc.) and list its dollar value next to it. Make sure you use values by a reputable source for things like properties, business, and other items for which you do not receive regular statements displaying their value. Otherwise, you risk mis-valuing them and believing you’re in better financial condition than you are actually in. Now, total the value of all assets.
Next, make a Debt column and underneath describe each debt / liability you owe (mortgages, car notes, credit cards, other loans, etc.) and list the full amount owed next to it. Now, total the amount of all debt.
Subtract total debt from total assets. The result is your net worth which could be a positive or negative monetary value. If it is positive, in comparison to income and windfalls you’ve received over the years, then you’re moving in the right direction and want to continue to be a good steward of the manifold blessings entrusted to you. If it is negative or low, you're not in a hopeless situation. When we first learned of the LORD's money management plan in 1992, we had a negative $35,000 net worth and owed $135,000 of total debt to more than ten creditors. Allowing the Holy Spirit to guide us financially based on biblical principles and methods that fit within their boundaries, within a short number of years we became debt-free and began using discretionary income to enter The Wealthy Place designed for believers.
Biblical money management instructions are for people of all ages, backgrounds, income levels, and occupations to help them prosper, take care of their families, and fund ministry at home and around the world. Now is the time to start managing your life and money differently in order to accumulate resources for future rainy days, expenses, and giving. Positive financial net worth helps you in this regard, yet it is not an invitation to hoard far more than you could ever need by refusing to give to help meet needs the bible says are important.
Always know, your true worth is not dependent on how much money you’ve accumulated at any one time, rather it's determined by your relationship to Jesus Christ. Believers are seated with Him in heavenly places. Yet, annually calculating net worth can be an indication of how well you are managing earthly resources entrusted to you and avoiding material things that would keep you in financial bondage.
Please pray for this ministry, email me with any questions, and contact me to speak at your business or ministry conference or workshop. May the LORD bless you richly as you follow His plan!
Genesis 13:2, Job 42:12, Proverbs 27:23-27, Luke 19:2-10, James 5:1-8
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
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https://www.amazon.com/s?k=Karen+Parlor&i=stripbooks&ref=nb_sb_noss
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