• Biblical Finance Class - Living Part 1

    Picture Credit: here.

    Welcome to Biblical Finance Class - Living Part 1! As we go through this class we are going to touch on stewardship and ways to handle money. Here are some facts: money is the 3rd leading causes of divorce in the U.S. and money/possession are mentioned in the Bible over 2000 times! Obviously this means money is important! But what will you do with this information? So, here is a question I want you to ponder before you watch the class below... how do you value money?

    Considering your answer above, what do you think you can do with money? I believe there are three or four things depending on how you look at it. Similar to personal finance gurus such as Dave Ramsay here is my take on what you can do with money:

    1) Give

    Regardless of how much money you have giving is something that anyone can do with money. Rather it's tithing at your local church, giving to a charity, or giving to someone you know is in need... it's all giving! Giving money can be an incredible experience, especially when you give to those who were not expecting and it really helps them. From the last class, Biblical Finance Class - Giving Part 1, Part 2, Part 3, & Part 4 I hope you see giving with the right heart is an important principle of personal finances. In order to be generous it's absolutely important to manage well what you have. This is why budgeting and understanding what your money is doing is so important!

    2) Save/Invest

    Saving and investing are not the same thing and why I alluded above that there are 3 or 4 things you can do with money depending on your perspective. I grouped them together because saving should come before investing. Once you get out of debt (we'll cover this in the next lesson Lord willing) it's important to save up for an emergency fund which should be 3 to 6 months of household expenses. Once your emergency fund is funded now it's time to invest, meaning putting money into mutual funds or real estate with the hope to obtain a return. My goal is that one day my investments began to make the same or more money than I can at a job. What are your savings & investment goals?

    3) Enjoy 

    Although this may seem weird coming from a financial coach, enjoying money is important for personal finances as well. The problem is we enjoy spending too much even to the point we'll get into debt just to enjoy something which, 99% of the time, is a horrible financial decision. So, I want to be clear... ENJOY some of the money God has entrusted you with! There is nothing wrong with that. My advice is to set money aside in your budget for enjoyment. If it's not enough... what are you going to do to change that? Maybe some Work!!! is in order or a plan to get out of debt!

    Take a look at the video below and let me know your thoughts! In the video I give the number #1 rule of personal finances especially within stewardship, here's a hint... G.O.E. Be blessed and be ready for Part 2 Lord willing!

    Three ways to manage money
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    "Where you choose Faith over Fear for your Finances"


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