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Money is a training ground for God to develop our trustworthiness, Luke 16:11. Principle 5 Avoid Debt. “The borrower is a slave to the lender.” Prov 22:7 Pay credit card balances off every month Never buy consumer goods such as clothes, furniture, or electronics on credit
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Money is a training ground for God to develop our trustworthiness, Luke 16:11
Principle 5Avoid Debt • “The borrower is a slave to the lender.” Prov 22:7 • Pay credit card balances off every month • Never buy consumer goods such as clothes, furniture, or electronics on credit • Don’t rent consumer good or electronics on “rent-to-own” plans • It’s better to drive a clunker with a small note than a luxury car that’s “loaded” with debt
Learn from Your Mistakes • “The one who conceals his sins will not prosper, but whoever confesses and renounces them will find mercy.” Prov 28:13 • Take responsibility; prayerfully ask God to help you become a better steward of the resources He has entrusted to you
Benefits of Goals • They provide direction and purpose • They help crystallize your sthinking • They provide personal motivation • They are a statement of God’s will for you
Setting Goals for Financial Fitness • Most people have good intentions or a vague idea of wanting to do something but do not intentionally and prayerfully set written goals. • You have to live by goals, not only in setting them.
Thoughts • "Obstacles are those frightful things you see when you take your eyes off your goals." • "Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work." H. L. Hungt • We must be careful not to let our current appetites steal away any chance we might have for a future feast. Jim Rohn http://kolmetz.com/quotes/quotes%20goals.html
Goal setting is a faith process • I believe God would have me ______. • Spend time with God, write down your impressions, make those impressions measurable, and take action. • Focus on what God directs you to do.
Short-term goals • Next six to twelve months • One to five years • Level of charitable giving • Taxes • Living expenses • Lifestyle • At peace with short-term financial decision making
Long-term goals • Fear potential financial events? • Debt level? • Progress towards goals • Investment portfolio? • Spouse’s concerns? • Peace with long-term financial decision making?
Mistakes to Avoid • Not setting goals at all • Unmatching goals between spouses • Setting unquantified goals – going for a ride • Setting goals based on fear rather than faith • Fear of failure related to our search for significance • Fear of the future relates to our search for security
Review weekend agenda • Pages 68-69 in the textbook
Benefits of Faith Goal Setting • If everything is a priority, then nothing is a priority • Lead to future capacity to attin other desirable ends • Mutually consistent, step-by-step accomplishment of each one aids in the achievement of the others • Are a statement of faith; Prov 16:9, “In his heart a man plans his course, but the Lord determines his steps.”