MoneyWalk 325 Change Your Habit To Prosper

This program will help you undo financial bondage.

Most people go through life continually getting loans to obtain material things, at higher amounts, and sometimes at higher interest rates. It’s the example many have seen from their parents and other people and don’t think it’ll entangle them because the getting seems so good. However, the downside is very real and should be exposed for the hurt, shame, and poor financial condition it brings upon those who think this route leads to a better life. Instead of the fruitfulness & prosperity the Lord desires for our lives, this produces continual record-breaking vehicle repossessions, house foreclosures, and personal and corporate bankruptcies.

Many people fail to acknowledge that debt is most often a finance-killer ruining their ability to walk in joy, peace, contentment, and self-control. It often stops them from pursuing endeavors aligned with their God-given gifting, skill, and ability. Thus, impeding the fulfillment He wants for them as they pursue work and service He desires for their lives. Even if the bible-based route for managing one’s financial life were not as lucrative for them on earth, it would certainly be more pleasing, purpose-filled, and fulfilling. Good biblical financial stewardship pays off far better than satan’s and the world’s plan for their finances.

Even though real estate is one of the few assets that very rarely depreciate in value, it will still be lost to foreclosure when life events occur that disable your ability to make large mortgage payments for several consecutive months. The debt problem is worsened by the fact that most people have three credit cards, six store cards, and two car loans in addition to a mortgage that is more than three times their annual income. In addition, the revolving balance on credit cards has increased fourfold during the past two decades, student loans are averaging about $40,000 per person or more, and vehicles are being traded in every 2 to 3 years for loans on more expensive cars even though incomes have not increased twofold.

People have not considered the spiritual implication of erroneously believing continuous and ever-increasing debt is profitable, such as:

**Bad personal financial habits will be extended into their business or self-employment and also put these endeavors in jeopardy.

**They will experience a reduction in their ability and desire to tithe and give abundantly to worthwhile gospel ministry.

**There is a great likelihood they’ll put their families in a very poor financial situation that will bring great stress, pressure, and anxiety into their lives, especially if their income goes south during an economic downturn.

Prosperity will rise in your life and bring about more abundant giving and care for your family and God’s Church when you stay away from excessive debt. Craft a Giving-Saving-Spending Plan (budget) and use self-control to eliminate current debt on all non-appreciating assets. When you’re financially ready to purchase a home, engage a mortgage of no more than fifteen years with a low fixed-interest rate. Also, ensure you do so at a price where the combined monthly principle, interest, property tax, and insurance payment is no greater than 25% of your monthly take home pay (after income and payroll tax deductions). And, aim to save enough beforehand where you can make a 20% down payment toward the home purchase.

Such changes of habit will move you from a debtor-slave to a debt-free lifestyle shortly down the road. This will allow you to invest greater amounts of income over the long haul in vehicles (like no-load low-expense broad market U.S. stock index mutual funds) that can build wealth and future income-generating assets to a far greater degree than you otherwise would be able to. This is the life that good financial stewardship is designed to produce for you.

Deuteronomy 28:12-15, 43-45, Psalms 37:21-22, Proverbs 22:6-7, Romans 13:8

Please pray for this ministry and email questions to parlor@ameritech.net and share the links below with others who need guidance. May the LORD bless you richly as you follow His plan!

Share https://kminfo.org/ministries/financial-freedom weekly with family and friends so these bondage-breaking articles and other financial information can help them gain helpful insight! @everyone

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.amazon.com/Power-Get-Wealth-Randy-Parlor-ebook/dp/B08QCH5MVH/ref=sr_1_2?keywords=Randy+Parlor&qid=1638336718&s=books&sr=1-2

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

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