Something’s Never Change 3 of 6
Pastor Ed Turley
August 19, 2012
“The rich rules over the poor, and the borrower is the slave of the lender.” Proverbs 22:7 (ESV) Memory verse
Two types of people:
[ ] Make interest or [ ] Pay Interest
1. Develop A Business Plan
“Good planning and hard work lead to prosperity,
but hasty shortcuts lead to poverty.” Proverbs 21:5 (NLT)
“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” Proverbs 21:20 (NIV)
“No one can serve two masters. For you will hate one and love the other, or be devoted to one and despise the other. You cannot serve both God and money.” Matthew 6:24 (NLT)
2. Commit To Becoming Debt Free Now!
“Don’t put it off; do it now! Don’t rest until you do. Save yourself like a gazelle escaping from a hunter, like a bird fleeing from a net.” Proverbs 6:4-5 (NLT)
Average American owes $8,100 in credit card debt.
If I pay $141.62 per month on $8,100 at 19.8% = 40 years
If I invest $8,100 at %12 for 40 years = $1,017,998.50
A. Get control of your money
“The wicked borrow and do not repay, but the righteous give generously” Psalm 37:21 (NIV)
To get out of debt you have to do three things:
1. You have to stop over spending.
2. You have to repay the principal and the interest.
3. Add no new debt.
B. Debt snowball effect:
Accelerate payment on 5th creditor while paying the minimum on others. When 5th creditor is paid off, add all of 5th on to 4th payment…= Average savings of 99 months of payments. 8 years
“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.’” Hebrews 13:5 (NIV)
3. Put God First In My Finances
“The purpose of tithing is to teach you always to put God first in your lives.” Deuteronomy 14:23 (LB)
“Should people cheat God? Yet you have cheated me! “But you ask, ‘What do you mean? When did we ever cheat you?’ “You have cheated me of the tithes and offerings due to me. You are under a curse, for your whole nation has been cheating me. Bring all the tithes into the storehouse so there will be enough food in my Temple. If you do,” says the LORD of Heaven’s Armies, “I will open the windows of heaven for you. I will pour out a blessing so great you won’t have enough room to take it in! Try it! Put me to the test! Your crops will be abundant, for I will guard them from insects and disease. Your grapes will not fall from the vine before they are ripe,” says the LORD of Heaven’s Armies.” Malachi 3:8-11 (NLT)
“Now about the collection for God’s people: Do what I told the Galatian churches to do. On the first day of every week, each one of you should set aside a sum of money in keeping with his income, saving it up, so that when I come no collections will have to be made.”1 Corinthians 16:1-2 (NIV)
My Next Right Step I will:
[ ] Develop a business plan
[ ] Commit to becoming debt free
[ ] Put God first in my finances
[ ] Sign up for Financial Peace University
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