![]() (National Foundation for Credit Counseling, 2013 Financial Literacy Survey) 29 percent of Americans admit to not paying all of their bills on time.“Spend now and worry about paying for it later.”. ![]() Easy to use and abuse Increase the amount you spend (12 percent on average) Types of Debt Mortgage Loans Student Loans Auto Loans Consumer Loans (aka: credit card debt)īeware of the debt trap - especially consumer loans and credit cards!Ĭredit Cards The Good, The Bad, and the Ugly.Ĭredit Cards: The Good Easy to get Easy to use Safer to carry than cash Earn “points” or cash back Give you a credit recordĬredit Cards: The Bad High interest rates and fees When paid late, interest rate can increase substantially - 29 percent. Quantity of money is not the issue, control of the money is the issue.The money ending before the month is a cash management issue.Will a larger paycheck solve a budget crunch?.Debt adds stress on you and your family.Living beyond our means is unsustainable.Money, by itself,is not the problem… …the problem isthe love of money Warnings about debt: Hebrews 13:5 (NRSV) Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you, never will I forsake you” Proverbs 22:7 (NRSV) The rich rule over the poor, and the borrower is the slave of the lender. If your income is higher than your expenses, make sure you have a plan to save and invest.If your expenses are higher than the income, start to figure out what to reduce or eliminate.Subtract the expenses from the income.Taxes and deductions need to be addressed properly in your budget.Be aware of the frequency or other variations that can complicate it.Tools and resources to help ultimately you need a version that works for you.Most people don’t track everything “inconvenient”.Make adjustments and start the process again.Determine areas that must be adjusted to accomplish goals.Live as a Good Steward of God’s Resources.Allocate savings and discretionary funds.Assess how you are spending your money.Budget - steps you are taking right now to achieve your long-term financial goals.Financial planning - long-term look at your financial situation and how you want that financial situation to look in the future.We experience dissatisfactionWhat is the cost of this discontentment at home?.We experience dissatisfactionWhat is the cost of this discontentment at work?.We acquire, and perhaps get saddled by, debt.What price do we pay for not being content with what we have? Saver More about these attitudes and others:.Nurture Conversation, and StewardshipWithin the Family.What can we do in a 1-hour seminar? Questions to ask Ideas ResourcesĬhurch of the Brethren Benefit Trust was established as the Pension Board in 1943 to set aside retirement dollars for pastors and missionaries. Credit reports Socially Responsible Consuming.E N D - Presentation Transcriptįaith, Family, and Finances:How to Live Faithfully within Your Means and Keep Peace in the Family Nevin Dulabaum Brethren Benefit Trust to live faithfully within your means…
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