crown financial ministries crown money map – your visual guide to true financial freedom we are...
TRANSCRIPT
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Crown Financial MinistriesCrown Money Map – your visual guide to
True Financial Freedom
We are going to talk about a Spending Plan
We are going to look at some Steps to Financial Freedom
Next week we will start the 4 Week Course – The Road to Financial Freedom
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The Road to Financial Freedom4 Week Course
#1 – Who’s in Control? – God’s Responsibilities & Our Responsibilities
#2 – A Slave to the Lender – Living Debt Free
#3 – Giving Back – Investing for Eternity
#4 – Who’s your Real Boss? - Work in your Ministry
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The Crown Money Map - When you get home open up the map and look
at the welcome and the instructions
- Review “My Life Purpose”, “My Life Goals”, “Foundational Principles”, and “Tools for the Journey”
- Remember that life purpose comes from God and a personal relationship with Jesus Christ.
- Review “Prepare for the Journey” and the “6 Destinations” on the Road to Financial Freedom
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A Spending Plan
Recognizing financial bondage
Understanding financial freedom
Knowing and following God’s principles
Experiencing true financial freedom
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Steps to Financial Freedom1. Transfer Ownership
2. Become Debt Freea. have a written plan – needs/wants/desiresb. determine essentials for livingc. think before buyingd. discontinue credit buyinge. avoid leveragef. practice saving
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Steps to Financial Freedom3. Establish the Tithe
4. Accept God’s Provision
5. Keep a Clear Conscience
6. Put Others First
7. Limit Time Involvement
8. Avoid Indulgence
9. Get Spiritual/Scriptural Insight
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Steps to Making a Budget1. List Monthly Expenditures for the Home
a. fixed expenses b. variable expenses
2. List Monthly Available Income
3. Compare Income to Expenses
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Analyzing your BudgetTake the sub-totals of your expense categories
and compute the percentage of your net income:
Net monthly take-home income is $3,000 Housing Expense Category totals ($1,000)
Computation = $1,000 / $3,00033.3%
Perform this for every expense category
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Example Budget
- See handout
- Keep in mind the budget categories should include all expenses – example: automobile – car payment, gas, maintenance, etc…