BM 410-1 Day One Notes and Objectives - Personal Finance



MBA620/BM418-1 Day One SummarySudweeks2019 AUTONUMOUT Help you understand the requirements of this course and fill out the IEP AUTONUMOUT I introduced myself: Family, Education, and Career Experience. I have biases toward: teaching versus learning, application versus reading, practice versus theory, and planning versus talking AUTONUMOUT We discussed the requirements of this course. Realize that I want you here in class. AUTONUMOUT I have 3 personal goals for this class: 1. To feel the Spirit, 2. To know I care about you individually 3. To teach things that will make a difference in your lives and save you $1 million AUTONUMOUT Finally, I have four personal objectives for this class1. Know what you want out of life—write it down. 2. Develop and live on a budget—live on less that you earn. 3. Pay the Lord first and yourself second—then invest your money wisely.4. Learn to give—if you can’t give when you are poor, it’s hard when you are rich. AUTONUMOUT To help you understand the importance of perspective AUTONUMOUT Perspective, or how we view things, is critical. We want to see things “in light of eternity” AUTONUMOUT Perspective is critical because it impacts choice AUTONUMOUT Help you understand our perspective for this course AUTONUMOUT Our perspective is simple. It is that personal finance is not separate from Christian lives, it is part of our Christian lives—part of the gospel of Jesus Christ. AUTONUMOUT Help you understand our framework for learning and its implications AUTONUMOUT This framework is critical as it helps change behavior AUTONUMOUT Doctrines are the hard questions, the “why” of what we do AUTONUMOUT The “what’s” and the “how’s” of personal finance are important, but it is in understanding the “why’s” that transforms our souls. The “why’s” give us the strength and the power to do the things we will need to do AUTONUMOUT I believe we apply personal finance in our lives to: AUTONUMOUT Bring us to our Savior Jesus Christ AUTONUMOUT Become wiser stewards over the things we are blessed with AUTONUMOUT Help us return with our families back home to our Heavenly Father’s presence AUTONUMOUT To accomplish our divine missions for which we were sent to earth AUTONUMOUT Principles are the “whats” that we are doing AUTONUMOUT Our perspective is based on four key principles: AUTONUMOUT Ownership: Everything we have and are is the Lords AUTONUMOUT Stewardship: We are stewards over all the Lord has blessed us with AUTONUMOUT Agency: We have the privilege to choose—one of God’s greatest gifts AUTONUMOUT Accountability: But we will be held accountable for those choices AUTONUMOUT Application are the “how” of what we do AUTONUMOUT It is the how we do things. There is a second part, the creative process, which helps us to understand how we should do things. It is based on 5 parts: AUTONUMOUT Vision: We catch our vision. This is our view of what our life will become AUTONUMOUT Goals: We develop our goals. These are tools to keep us focused on our vision AUTONUMOUT Plans: We make our tactical plans. This is our best view on how we will accomplish our goals AUTONUMOUT Constraints: We determine our constraints. These are things that will take us from our goals or constraints that have to be overcome to satisfy our concerns AUTONUMOUT Accountability: We become accountable to others as we share our vision and goals with others. That way others can help us to accomplish more AUTONUMOUT Help them understand the implications of this framework AUTONUMOUT The implications of this framework are far reaching. They include: AUTONUMOUT This framework helps us ask the important questions in life AUTONUMOUT This includes “what principles and doctrines, if understood, would help me change my attitude and behaviors toward my finances to become better AUTONUMOUT This framework reminds us where the answers are AUTONUMOUT The answers always are in the doctrines and principles AUTONUMOUT This framework allows us to life our perspective and our purpose AUTONUMOUT It gives us greater motivation AUTONUMOUT This framework encourages us to take the long-term/eternal perspective AUTONUMOUT It takes finances from being a check-list activity to bringing all these things together into an integrated whole of the gospel of Jesus Christ AUTONUMOUT This framework changes our thinking AUTONUMOUT This framework allows us to transform those hourly and daily mundane acts of obedience into holy acts of consecration to the Lord. AUTONUMOUT Remember that “Life is Good” AUTONUMOUT These are the 10 things we want you to take away from this course AUTONUMOUT What were your “take aways” form the class?_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________ AUTONUMOUT Final ThoughtGood Timber by Douglas MallochThe tree that never had to fightGood timber does not grow with ease:For sun and sky and air and light,The stronger wind, the stronger trees;But stood out in the open plainThe further sky, the greater length;And always got its share of rain,The more the storm, the more the strength.Never became a forest kingBy sun and cold, by rain and snow,But lived and died a scrubby thing.In trees and men good timbers grow.The man who never had to toilWhere thickest lies the forest growth,To gain and farm his patch of soil,We find the patriarchs of both.Who never had to win his shareAnd they hold counsel with the starsOf sun and sky and light and air,Whose broken branches show the scarsNever became a manly manOf many winds and much of strife.But lived and died as he began.This is the common law of life.Bishop Victor L. Brown, former Presiding Bishop of the Church, said that until we “feel in total harmony” with the principle that everything we have belongs to the Lord, “it will be difficult, if not impossible, for us to accept the law of consecration. As we prepare to live this law, we will look forward with great anticipation to the day when the call will come. If, on the other hand, we hope it can be delayed so we can have the pleasure of accumulating material things, we are on the wrong path” (“The Law of Consecration, 1976 Devotional Speeches of the Year [1977], 439). ................
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