Highlight
Winter 2004/2005

From the Editor

Features
Salvation Begins w/the Word of God

True Repentance

God’s Patience & You

Baptism, Are You Ready?

Real Salvation

Heaven & Hell

Will Non-Christians be Saved?

Infused at the Feast of Tabernacles

Highlights
Is the Bible Real?

What’s Your Seed

My Memories From the Feast of Tabernacles

What Does Baptism Mean?

What’s Wrong With Counting?

Q&A

By You: Poetry

Finding Financial Peace and Freedom


Finding Financial Peace and Freedom
By Tina Chamberlain

Money, or the lack or it, impacts most facets of our lives, but so many of us know so little about it. Your money is yours right? Wrong! Everything belongs to God, not just stuff you don’t want, or no longer use—everything. You’re allowed to manage it, and sometimes you manage a little or a lot, but keep in mind that it all belongs to Him. No matter what your career choice, if you don’t learn how to manage your money, you will have problems in life. So you may be asking where do I start?

Money
Step One: Save $1,000 as an emergency fund (Proverbs 6:6-9 and 21:20). Be wise and save money now. Don’t wait for that raise or winning the lottery. This will take discipline and if you don’t make it a priority now, you never will.

Step Two: Pay off all debt. Start first with preparing a budget (Proverbs 22:7 and Luke 14:28-30). You will need to balance your checkbook, abandon your teller card and account for every dollar spent. You will not have the same expenses every month, so be prepared to create a new budget each month. The following are suggested budgeting percentage guidelines.

Item Recommended Percentage
Charitable Gifts 10-15
Savings 5-10
Housing 25-35
Utilities 5-10
Food 5-15
Transportation 10-15
Clothing 2-7
Medical/Health 5-10
Personal 5-10
Recreation 5-10
Paying Off Debt 5-10
Ex: 10% of $20,000 = $2,000

Pay down your debt by listing your debts, smallest to largest. You’ve got your $1,000 in the bank first, okay? Pay minimum payments on everything but the smallest one, regardless of the interest rate. Each one you pay off, strike a line through it and take that money and dump it into the next one, in addition to the minimum payment. Keep this up until you’re out of debt.

News flash about Cash: Of 100 people Age 65 - 97 cannot write a check for $600, 54 are still working, and 3 are financially free (USA Today).
Step Three: Beef up the emergency fund with three to six months’ expenses in savings (Proverbs 21:5).

Step Four: Invest 15% of household income into Roth IRAs and pre-tax retirement plans (Psalm 20:4). Imagine a Bright Future: If a 30-year old couple funded a Roth IRA at $250.00 per month at 9% growth, at 70-years old, they would have $1,104,376 – tax free! And if that same couple made $40,000 and also saved 15% in a 401(k) ($6,000 per year, $500 per month, at 12% growth), at 70-years old, they would have at least $5,881,798 in the 401(k)! By retirement the couple, debt free, saved $749.95 per month they will have $6,788,290.

Step Five: Save for your children’s college fund (1 Timothy 5:8).

Step Six: Pay off your home early.

Step Seven: Build wealth through wise investments, such as mutual funds and real estate.

Even if you are young, it is never too early to learn these lessons (1 Timothy 4:12). Remember, no matter what you are doing in life, no matter where you are, if you follow the Lord’s Word, He will answer you when you call upon Him. Psalm 55:22 says, “Cast your cares on the Lord and he will sustain you; He will never let the righteous fall.” James 1:5-8 says, “If any of you lacks wisdom, he should ask God, who gives generously to all without finding fault, and it will be given to him. But when he asks, he must believe and not doubt, because he who doubts is like a wave of the sea, blown and tossed by the wind. That man should not think he will receive anything from the Lord; he is a double-minded man, unstable in all he does.” Ask for wisdom. Trust the Lord will give it to you and if you are in doubt, go back to the Word.

 Sources: The Bible and Dave Ramsey; a personal money management expert, an extremely popular national radio personality and best-selling author of The Total Money Makeover. Dave Ramsey’s new teen series, No Matter What, is an all-inclusive program for teaching money management. “People in their early twenties are one of the fastest growing demographics filing for bankruptcy,” said Matt Woodburn, vice president of Dave Ramsey’s organization. “Student loans, the proliferation of credit cards on college campuses, and a lack of understanding of how to manage their money have driven this statistic. Want to know more? Dave Ransey’s Financial Peace Resource Center at www.daveramsey.com or 1-888-22-PEACE.