This
program will help you undo financial bondage.
Godly
stewardship requires that you love not the world or the things in the world
because he/she who loves material things is at enmity with the LORD. You need
to engage the practice of spending far less each month than your take home pay,
which is the income you are left with after taxes and payroll deductions are
taken out of your gross income.
Most people regularly spend all their take home
pay, as noted by the anemic savings rate in the United States and
ever-increasing amount of debt on homes, car, colleges, credit cards, and
recreational vehicles. A budget helps you give abundantly, save to cover
emergencies, and build substantial wealth over time. It makes retirement from
your current profession possible (if that is your desire) by putting you in position
to engage many years of sustainable marketplace ministry using your giftings,
talents, and skills to greatly impact other people.
When you work the LORD’s financial plan you will
have peace and joy in your life and overcome financial problems. You will stop satan’s
assault on your life brought on by unreasonable spending, debt, and lack of
savings and investments. And, you will avoid future bankruptcy, foreclosure,
repossession, and effects of low credit scores (high insurance premium, high
mortgage interest, etc.).
1. 1. Identify
your monthly take home pay from all sources.
2. 2. Subtract
tithe and offering.
3. 3. Subtract
the minimum monthly payment for each bill.
4. 4. Use
the remaining cash flow to set budget amounts for groceries, household supplies,
entertainment, and personal spending.
5. 5. Discretionary
cash flow remaining should be used to establish the first tier $1,000 emergency
fund.
6. 6. Afterward,
use discretionary cash flow to pay extra (above the minimum payment) to the
creditor owed the lowest total debt.
7. 7. After
eliminating this debt, use the cash flow to pay the creditor with the next
lowest debt.
8. 8. After
all non-mortgage debt is paid off, increase your emergency fund to at least $10,000,
invest at least 10% to build wealth, and make extra principal payments toward
early mortgage elimination.
When the budget shows discretionary income is not enough to pay your bills and totally eliminate your debt within the next year or two, you need to employ reduction of unnecessary expenses as well as increase income through no-cost low-cost entrepreneurial efforts and second jobs. Repeat this written budgetary process (on paper or computer) for each of the next six months and make sure you consistently stay within budgeted amounts. Never let anything stand in the way of reaching financial freedom because this improves (a) faith in the Creator to provide all your need according to His riches in glory, (b) your ability to give, save, and spend in ways that please Him and help fulfill His purpose for you in the earth, and (c) peace and joy in your life.
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!
Proverbs 27:23-27, Habakkuk 2:2-4, Luke 14:28-33, Philippians 4:11-13
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
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 find many other MoneyWalk articles on Facebook at
https://www.facebook.com/randy.parlor by viewing Notes in the More menu on the right side of
the computer screen
You can connect with Randy Parlor on
https://biblicalmoneymanagement.blogspot.com/
Twitter
https://twitter.com/RandyParlor
Linkedin
https://www.linkedin.com/in/randyparlor/
You can also view and/or listen to MoneyWalk articles at
No comments:
Post a Comment