who's managing who? are you managing your money? or… is your money managing you ?

Who's managing who?

Are you managing your money?

Or… Is your money managing you?

Agenda

• Why are we in the situation we’re in?

• What God’s Word says…

• Starting the Journey

Managing your Money

A Life-long Journey

See Video in the Resource Section:Dave Ramsey: Save or Spend?

Have you built a House of Cards?

World View for Managing Finances

Start Here

Are you Living the American Dream?

See Video in the Resource Section:Casting Crowns’ American Dream

Understanding what God’s Word says . . .

• God’s Role with Money and Possessions

• Debt• Budgeting• Giving

Building a Foundation that will withstand the financial storms!

What God’s Word says about…

• Theme 1 - God Owns Everything– Exodus 9:29 & 19:5– 1 Corinthians 10:26

• Theme 2 – God Controls Everything– Proverbs 20:24– Romans 8:28

• Theme 3 – God Provides Everything– 1 Chronicles 29:14– Romans 11:36

. . . His Role with Money and Possessions

What God’s Word says about…

• Theme 1 – Encouraged to not be in Debt– Romans 13:8– Proverbs 22:7

• Theme 2 – Repay your Debt– Proverbs 3:27 – 28– Psalm 37:21

• Theme 3 – God can Supernaturally Provide– 2 Kings 4:1-7

. . . Debt

What God’s Word says about …

• Theme 1 – Knowing your Financial Condition is Important– Proverbs 27:23-27– Luke 14:28 – 29

• Theme 2 – Our Lives should Exhibit Order– 1 Corinthians 14:33 & 40

• Theme 3 – Planning is Encouraged– Proverbs 20:18– Proverbs 21:5

. . . Budgeting and Planning

What God’s Word says about . . . • Theme 1 – Our Attitude is what is Important

– 1 Corinthians 13:3– 2 Corinthians 9:7

• Theme 2 – There are Benefits to Giving– Acts 20:35– Proverbs 3:9-10– Luke 6:38– 2 Corinthians 9:6-8

• Theme 3 – Test that God will Provide– Malachi 3:10

. . . Giving

God’s Plan is Completely Opposite . . .

Start Here

. . . from the World’s View

Getting Started

Clarity of the Current State

Where does it all go?

• Track all expenditures for a month

− Where is the cash going? • Analyze each one

– Do I REALLY need it?

– Can I do it for less?

Eliminate Credit Card Debt!

Get Real about your Spending!• Credit Card Facts

– Average person has ____ cards– People who use credit cards versus money

often spend ________ %more– _____ % of survey respondents didn’t know the

interest rate charged on their most used card.– In 2010 the average default rate stood at _____

%.– _____% of Americans said that in the past 12

months they carried over a balance and were charged interest.

Eliminate Credit Card Debt!

Get Real about your Spending!• Credit Card Facts

– Average person has 3.5 cards– People who use credit cards versus money

often spend 20 – 30% more– 36% of survey respondents didn’t know the

interest rate charged on their most used card.– In 2010 the average default rate stood at

27.9%.– 56% of Americans said that in the past 12

months they carried over a balance and were charged interest.

Eliminate Credit Card Debt!

Get Real about your Spending!

– _____ of the cards allow the issuer to raise interest rate at any time by changing the account agreement.

– Average interest rate was _____%.– The average unpaid balance per card was

$______ in 2010. The median was $____ !!! – If you look at all households, they dedicate

____% of their income to servicing debt repayment. Where the average credit card-indebted family allocates _____ %.

Eliminate Credit Card Debt!

Get Real about your Spending!

– 93% of the cards allow the issuer to raise interest rate at any time by changing the account agreement.

– Average interest rate was 18.9%.– The average unpaid balance per card was

$3,389 in 2010. The median was $90!!! – If you look at all households, they dedicate 13%

of their income to servicing debt repayment. Where the average credit card-indebted family allocates 21%.

See Video in the Resource Section

“If you don’t have the money, don’t buy it”

Eliminate Credit Card Debt!

Starting the Journey

• Pay off your highest debt first– Sort your list of debts from highest to lowest in

terms of interest rates. – Tackle the debt with the highest interest first.– Once this card is paid off, apply the amount of

its payment to the minimum amount you were paying on the card with the second highest interest rate.

Starting the Journey

Develop a budget to clarify your spending decisions

• Budget for – Tithing– Saving – Debt Reduction

Make a Plan

Starting the Journey

• Set SMART goals– Write the goals down and keep

them visible.– Make big goals more approachable - Break them

down into several short-term goals.• Prepare for Setbacks

– If you mess up - make it a stumble, not a crash and burn.

• Get Expert Advice– If you feel like you're in over your head, seek help.

Set Goals

Starting the Journey

Develop an Accountability Partner

Contact me for additional

information on a Small Group

Financial Bible Study

Summary

Agenda• Why are we in the

situation we’re in?

• What God’s Word says…

• Starting the Journey

What we Learned• Be content because God is

our provider

• The Bible - our blueprint for living

• Keys to Staying the Course Long-term