This program will help you undo financial bondage.
The highest
finance charges are usually on credit accounts issued by retail stores. Most
charge you around twenty-five cents on the dollar in interest for every dollar
that revolves. Some charge upwards of thirty cents on the dollar. Some mortgage
bankers and car financing firms are getting in on the high interest finance
charge game. You cannot afford to be in this type of situation. Scripture
clearly indicates the Lord doesn’t want you to be in bondage to debt because
the part of the Great Commission He designed you to play, as well as your
calling, mission, life dream, and vision are seriously sidetracked and
jeopardized when you give yourself over to debt bondage.
This puts the
enemy in a position of controlling you like a puppet master. He wants to make
it impossible to pursue what you’re on this earth to do by obligating your
time, effort, and hard work to debt payments you’re legally attached to. He
wants your faithfulness to creditors to be a higher priority than your intimacy
with the Lord and faithfulness to the work and relationships He called you to.
When you’ve been
irresponsible with debt and undisciplined financially you need to immediately
call the finance companies to close revolving credit accounts and cut up the
credit cards you have and commit to never use them again so you’ll not be
tempted to continue incurring exorbitant finance charges. Some companies may
not let you close the account until it’s paid in full. In this instance, your
commitment to never using it again will help you reach the financial milestones
you’re aiming at and fulfill the plan for your life.
It’s time to
embark on the following debt reduction strategy. (1) Commit to budgeting while working
to reduce your monthly expenses to less than 80% of your net monthly income.
(2) Pay the minimum on all accounts and use excess cash flow to save $1,000 for
an emergency fund. You may need to work overtime and second jobs to have excess
cash flow. (3) Then, use the excess cash flow on the account with the smallest total
balance. This will help you pay it off quickly, giving you financial and psychological
momentum. After it’s paid off, move all excess disposable income to the account
with the next smallest balance and repeat this process until all accounts are
paid off. A far higher percentage of people stick with this debt elimination
process than with other methods and they’re usually able to pay off the
totality of their non-mortgage debts within three years. It usually takes
another seven years or so to pay off their mortgage.
Here are a few
ideas to obtain money quickly to add to your income, emergency fund, and debt elimination
plan. You could hold continuous yard sales of excess items you own that you’re
not currently using. Social media marketplaces like Ebay, Poshmark, and What Not
are great options. You could use companies like DoorDash, Grubhub, and Instacart
to help you get set up online to deliver food orders to customers homes. You
could engage entrepreneurial endeavors like going door to door to get multiple
clients for house cleaning, lawn mowing, tutoring kids, and giving music lessons.
This portion of
the financial planning process will set you on the path to financial freedom
from bondage, so within a few years you can pay all your monthly expenses
without headache or worry. You’ll then have much more cash flow to give more to
fund Kingdom endeavors and pursue His calling and vision for your life. In
addition, you’ll be able to establish a much larger emergency fund and invest
substantial amounts monthly in high growth investment products that will lead
to far greater wealth down the road.
Deuteronomy 28:12, Proverbs 22:7, Luke 16:8-12,
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
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!
You can find books authored by Randy and
Karen Parlor at www.Amazon.com.
You can also connect with Randy Parlor on Facebook, Twitter, LinkedIn, Instagram, Google Blogger, WordPress, Pinterest, TikTok, Tumbler, and You Tube.
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