MoneyWalk: MoneyWalk 113 Insulation Against Economic Upheaval

This program will help you undo financial bondage .

Many people get laid off, receive less pay, and have their overall assets reduced during times of economic recession and depression. One has only to review the history of the U.S. and world economies to recognize economic downturns usually come every eight to ten years or so and last about eighteen months. Yet, by failing to save, invest, and live according to biblical principles, many people act as if they’re oblivious to the fact these downturns will arise.

Unfortunately, most people engage in personal money management practices that land them in financial turmoil at some point in their lives, Problems 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 current and foreseeable income and assets. Many also fail to honor God by tithing and offering to help share 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.

You should not invest with anyone who tells you a specific type of business is successful for everyone who starts one or invests in it, nor should you invest with one who guarantees you abnormally high annual rates of return on your investment dollars. Believers should only follow specific methods that align with biblical principles such as diligently performing a God-pleasing type of work, tithing, giving, spending far less than 89% of your gross pay, eliminating debt, refusing to cosign, saving, investing without greedy motives, and diversifying assets.

Diversifying investments in at least seven or eight vehicles (businesses, stocks, bonds, real estate, etc.) is very important, 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. Those who engage in get-rich-quick endeavors usually suffer foreclosure, repossessions, bankruptcy, unrecoverable losses, and/or lengthy financial discomfort.

God gives you preventative maintenance instruction by putting investment principles in the bible that help you overcome the severe effects of economic downturns. This doesn’t mean 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 financial freedom and prosperity through downturns when you consistently make three actions part of your financial plan:

· Diligent work to earn and increase income over time 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.

· Save a reasonable portion of your gross income as an emergency fund that will help you make it through downturns.

· Investing at least ten percent of your gross income and diversifying assets by buying seven or eight different types of investments.

Historically, every industry does not have a downturn at the same time, so using biblical financial principles allows you to be in a place where you’re not severely negatively affected or moved by current economic winds. You can spend to meet your needs without bill collectors chasing you to pay debts you cannot afford. Also, you have a much greater possibility of annual asset growth because only a few markets are down at the same time The growth of investments you have in markets that are up have an opportunity to outweigh losses you might experience in markets that are down. You must do your part to employ the LORD’s plan for insulation against economic upheaval, so you are always in a position where you can come out ahead no matter what financial obstacles come your way.

Deuteronomy 28:12-14, Ecclesiastes 11:1-6 Acts 6:3, Romans 13:8

Please pray for this ministry, forward these articles to other people who need helpful insight, and contact me to speak at your business or ministry conference or workshop. May the LORD bless you richly as you follow His plan!

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

https://www.westbowpress.com/en/bookstore/bookdetails/817195-power-to-get-wealth

You can find other 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

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