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“Financial Peace: it’s NOT what you think….”January 3-4, 2009We live in a world that has a really wrong take on finances….tell you something you don’t know right? TOP 10 SIGNS YOU ARE BROKE10. American Express calls and says: "Leave home without it!"9. You’re formulating a plan to rob the food bank.8. Long distance companies don’t call you to switch.7. You rob Peter...and then rob Paul.6. You finally clean your house, hoping to find change.5. You think of a lottery ticket as an investment.4. Your bologna has no first name.3. Sally Struthers sends you food.2. McDonalds supplies you with all your kitchen condiments.1. At communion you go back for seconds.Now look at these 20 Symptoms of Financial Bondage…how many of these play into your life?You make minimum payments on your credit cards and loansYou consistently think and worry about money You've made impulsive purchases or expenditures you later regrettedIn the past, you have used consolidation loans or second mortgages to relieve the financial pressures you were under and you're now in worse financial trouble than everYou regularly pay monthly bills w/credit cards because you're broke (i.e. You know you have more month than money).You don't faithfully give to the Lord because you think you can't afford it.You argue about money.You are angry, envious or jealous of others who have enough money to pay their bills or who are debt freeYou have trouble sleeping at night because you worry about bills You have borrowed money to make investments in the pastYou have no written spending plan to guide your financial giving, savings and spending - - i.e. no budget.You are constantly thinking about getting involved in some get rich quick schemes You think that getting more money is the answer to your problems.You've bought a brand new car on monthly payments because you thought it would save money on your car repair bills.You have borrowed from family and friends and you are not actively repaying the loan. You have bounced several checks in the past year.You have maxed out some or all of you credit cards You have no realistic written plan to pay off all your debts You have never been in a Bible study group where you've learned God's principles for handling your financeYou have difficulty reading your Bible or listening to a sermon because of your money worries Source: A combination of info from a variety of financial websites (much of it used by permission from Brian Kluth at )Let’s start learning about FINANCIAL PEACE by understanding the key difference between an owner and a stewardThe “owner” attitude says: It’s all mine and I’ll give some to GodThe “steward” attitude says: It’s all God’s and I’m a managerDid you know how much God talks in the Bible about…Baptism? 40 verses????Faith? 350 verses Prayer? 275 versesLove? 650 versesFinances/Material Possessions/Wealth? 2,350 versesWhy? Because God cares about what impacts our heart…Your definition of financial freedom: ______________________________________________________________________New definition of financial freedom: Building your life on God’s financial principles so you can completely trust God to guide you and provide for you.In the next few minutes and next week, I’m going to overwhelm you with really great resources (PLUG CVC EQUIP U FINANCE CLASS HERE)…I believe that God can give each of us a fresh start with your finances. In golf if you are playing with really generous people, you get one mulligan (“do over”) each 9 holes. What if you could have a financial mulligan? Think about all the decisions you could make better if you could do them a second time.We want to:Experience financial peace even if you are upside down on your monthly income/expenseReach financial peace even if you are facing a medical, educational, legal crisis that has financial pressure attachedRe-do your current financial picture so that you can get to financial peaceTeach your children simple and focused financial tools that will equip them for financial peace for life!So..let’s dive in this week for 7 key contrasts between Man’s Economy and God’s Economy:Man's EconomyGod's Economy1) All I have is “Mine”All I have is God’s“You may say to yourself, "My power and...strength... produced this wealth for me." But remember the Lord, for He gives you the ability to produce wealth.” (Deuteronomy 8:17,18) “The earth belongs to God! Everything in all the world is his!” (Psalm 24:1) Also see: 1 Chron 29:11, Ps 50:12, Psalm 62:10, 1 Cor 10:26, Col 1:17Man's EconomyGod's Economy2) “More”ManageEcc 5:11 The more you have, the more you spend, right up to the limits of your income. (Ecclesiastes 5:11) “The wise man saves for the future, but the foolish man spends whatever he gets.” (Proverbs 21:20) See also Luke 16:10, Psalm 37:16,Proverbs 21:17, 23:19Man’s EconomyGod’s Economy3) FEAR of loss or hard timesFAITH in God to provide“The Lord cares (for the godly) even when times are hard; even in famine, they will have enough.” (Ps 37:18-19)“The eyes of the LORD are on those who fear him, on those whose hope is in his unfailing love, to...keep them alive in famine.” (Ps 33:18-19)See also Genesis 12:10, 26:1, 41:29,30,50, 42:5, Ruth 1:1-4, II Samuel 21:1, I Kings 18:2, II Kings 4:38, Nehemiah 5:3, Jeremiah 52:6, Acts 11:28Man's WaysGod's Ways4) Envy and the pursuit of PossessionsContentment and released resources“Do not covet your neighbor's house…or anything else your neighbor owns. “ (Ex 20:17)“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." (Heb 13:5-6 )See also Psalm 73:2-28, Psalm 127:2, Proverbs 13:22, 23:17, Ecclesiastes 2:26Matthew 6:33, Luke 12:15, I Timothy 6:6, Phil 4:11,12, 1 Pet 2:1-2Man's EconomyGod's Economy5 ) Growing indebtednessActively eliminate or avoid indebtedness“ It's stupid to try to get something for nothing, or run up huge bills you can never pay” (Proverbs 17:18, MSG)“The borrower is servant to the lender.” ( Pr 22:7) See: II Kings 4:1, Dt 28:12, 43-44, Proverbs 22:26, 37:21Romans 13:8 Man’s EconomyGod’s Economy6) Foolish pride and lack of good counselKnowledgeable and Godly Counsel“ The way of a fool seems right to him, but a wise man listens to advice.” (Proverbs 12:15)“There is a way that seems right to a man, but in the end it leads to death (ruin, destruction).” Prov 16:25See also: Psalm 1:1-2, Proverbs 13:10, 19:20, 20:18Man’s EconomyGod’s Economy7 ) Giving to God has low or no priorityGiving to God is your highest priority“The purpose of tithing is to teach you always to put God first in your lives. “ (Deut 14:23TLB) “ Jacob made a vow, saying, "If God will be with me and will watch over me...then the LORD will be my God...and of all that You give me I will give you a tenth." (Genesis 28:20-22) “See that you...excel in this grace of giving. “ (2 Cor 8:7) See also Deuteronomy 16:16-17, I Kg 17:13-16, Haggai 1:5-12, Malachi 3:10, 1 Cor 16:2, 2 Cor 9:7 God loves a cheerful giver. NEXT WEEK: HUGE TOOLS ON GETTING OUT OF DEBT, GETTING YOUR FINANCIAL HOUSE IN ORDER, DO-OVER STARTING NOW…HELPFUL RESOURCESBrian Kluth’s Website (): Helpful articles and resources on Biblical generosity, debt reduction, and financial freedom.Crown Financial Ministries (): Crown offers excellent website resources, articles, financial calculators (on their webste), books, and radio programs.Dave Ramsey () Dave is the most dynamic communicator on financial issues in our world today from a Christian perspective (in my humble opinion).Ronald Blue & Company (): This nationwide organization with offices in 15 cities offers financial counsel, investment management, estate planning, tax services, charitable giving counsel. They especially specialize in assisting individuals with a high net worth.Sound Mind Investing (): A financial newsletter and services by Austin Pryor for today’s Christian family. Provides solid advice on investment strategies. Generous Giving (): Resources for those who want to deeper their commitment to Biblical generosity and increase their giving to advance the kingdom of God.Consumer Credit Counseling Agency () Counseling and assistance with debt and credit card problems.Financial Peace: I Can Experience It-Even Now!January 10-11, 2008Here are some interesting financial tidbits that might be of help to you:When your outgo exceeds your income, your upkeep will lead to your downfall.A joint checking account is never overdrawn by the wife; it’s just under-deposited by her husband.The trouble with most people is their earning capacity doesn't match their yearning capacity.The most expensive vehicle to operate, per mile, is the shopping cart.DEFINITION: Luxury = something that someone else has that I don’t have - - everything I have, I need.These days it’s easy to buy a $50,000 car, just buy a $15,000 car with 48 monthly payments.Financial Peace Definition: Building your life on God’s financial principles so you can completely trust God to guide you and provide for you.“Now it is required that those who have been given a trust must prove faithful. My conscience is clear, but that does not make me innocent. It is the Lord who judges me”(I Corinthians 4:2,4)We want to honor God’s ownership of everything and learn to trust him to guide and provide in every area of our livesLast week we talked about the huge differences between God’s Economy and our Earth Bubble Economy.This week, I’m really hoping to give you some very practical tools…but want to again remind you of the resource list I provided last week (copies at Guest Central this weekend) and of the EQUIP U Financial Freedom class starting this week.THINKING AND PLANNING ABOUT MONEYHow do you think of the priorities of your financial life? FOOD! HOUSE! CLOTHES! ELECTRONICS!Here is how I believe we should think and how I WISH I had always thought about finances:MONEY FORMULA: Total income-tithe-taxes-debt-savings=lifestyle resources4 truths that Ron Blue (one of my favorite Christian money writers…Dave Ramsey my favorite presenter) lifts up about money:All of us have limited resourcesThere are more alternative uses of money available than money availableToday’s decisions determine destinyThe longer term our perspective, the better our decision making4 step process to financial planning (this is not rocket science to ponder; it is Olympian to do):Summarize your present situationEstablish your financial goalsIncrease your cash flow marginControl your cash flowRon Blue’s basic message:God owns it allMoney is never an end in itself, but is merely a resource used to accomplish other goals and obligationsSpend less than you earn and do it for a long time and you will be financially successful“He who gathers money little by little makes it grow” Proverbs 13:11Proverbs 21:20, “In the house of the wise man are stores of choice food and oil, but the foolish man devours all he has”SO LET’S TALK ABOUT GIVINGWhy is giving an important subject? Because it teaches us to put God first in our life, we become more like Him when we give, and it breaks the grip of materialism in our lives.. Does it hurt? Sometimes. But it is an act of worship that teaches us to become like God and to honor His ownership of everything in our lives.I believe that the tithe is the NT standard…but it is the floor NOT the ceiling. At CVC, if the 1000+ households who are active here would be tithing, I calculate that our income and mission giving ability would be 3 to 3.5 times what it is today. Here is what that looks like in picture form.GRAPH HERE FROM TAMY RE 2008 GIVING1) If you are tithing and giving offerings, I pray God’s richest blessings on you2) If you have taken steps towards tithing and are being intentional about putting God first in your life, I believe God will honor your obedience and continue to grow you.3) If this is totally new and FREAKING YOU OUT…then here is what I want you to do:850 households (check number with new graph from Tamy) give less than $2,000 per year. I want to ask you to do this:If you are giving zero, then begin to give $50 per month. For most of you, that will mean you will give to the Lord through your local church LESS than you spend on utilities and perhaps less than you spend on Starbucks each monthIf you are giving a little, I want to ask you to work towards giving $200 per month. That’s less than a car payment for most of you in this room…and tithing is not a debt…IT is an obedience obligation to the LordThis is between you and the Lord…BUT…let me tell you something I experienced when I was 22 years old…Pastor Cho re leading small groups…SOME CLEAR TALK ABOUT DEBT….Psalm 37:21, “..The wicked borrows and does not repay, but the righteous shows mercy and gives”Debt is a product. There are various kinds, but they all make money for the lender, not the borrower! Ron Blue identifies five different kinds of debt: 1) Credit Card Debt, 2) Consumer Debt, 3) Mortgage Debt, 4) Investment Debt, 5) Business Debt. I would add Medical & Legal Debt as a 6th category.Getting out of debt:Stop borrowing money!Decide that you will get even and then get mad!Use the debt snowball (put smallest to largest, disregarding rates, etc). Pay off in orderApply extra monies to debt reduction and to emergency savingsPut “saved” money into savings for large purchases or investmentsRon Blue’s Questions regarding debt:Does it make economic sense?Do my spouse and I have unity about taking on this debt?Do I have the spiritual peace of mind or freedom to enter into this debt?What personal goals and values am I meeting with this debt that can be met in no other way??You know what a mess I was after Russ died and the finances were just beyond what anyone should have to deal with. I was $62,412.60 in medical debt and $13,000.00 in credit card debt in a matter of 4 months. I worked 3 part time jobs and used the money from 2 of them to start getting out of debt. In 5 years 3 months and 1 week I was debt free. If at my age I could do it anyone can. (Judy at CVC)SAVINGS AND RETIREMENT “Go to the ant, you sluggard; consider its way and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest”(Proverbs 6:6-8)“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has”(Proverbs 21:20) “Dishonest money dwindles away, but he who gathers money little by little makes it grow”(Proverbs 13:11)CCCU Certificate info in lobby…Today’s retirees are the wealthiest in U.S. History. Baby Boomers can reasonably expect to live 20-25 years past retirement. It is literally becoming the “third phase” in people’s lives. In it, you hope to move from “success” to “significance”. Recommend to you Bob Buford’s book “Halftime”, which will both encourage and stimulate your thinking on whether the conept of “retirement” is even Biblical. But, clearly, most people will move into a phase of their lives, whatever the name, that will mean a departure from the “I must go to work each day at such and such a time” cycle. “A good man leaves an inheritance to his children's children, And the wealth of the sinner is stored up for the righteous.”(Proverbs 13:22)“Now to Him who is able to do immeasurably more than all we ask or imagine, according to His power that is at work within us, to Him be glory in the church and in Christ Jesus throughout all generations, for ever and ever! Amen”(Ephesians 3:20-21)…THIS IS GOD’S PROMISE FOR YOUR FINANCIAL PEACE…AND I BELIEVE IT FOR YOU AND FOR US! ................
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