Financial Fitness The plans of the diligent lead surely to advantage, but everyone who is hasty...

Financial FitnessFinancial Fitness

The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty. Proverbs 21:5 NASB

Actions ChangeActions Changewhen Attitudes when Attitudes

Change!Change!


““Money Don’t Grow On Money Don’t Grow On Trees”Trees”


…and neither do cars, stereos, clothes, washing machines, houses, college educations, and retirement incomes.

It is at the point of trying to allocate It is at the point of trying to allocate limited financial resources among limited financial resources among unlimited financial alternatives that we unlimited financial alternatives that we experience some of life’s greatest stress experience some of life’s greatest stress and conflict!and conflict!

EnvyEnvy


The number one reason Americans don’t save more…

God’s financial I.Q. test:

…stupid people spend their money as fast as they get it. Pr.21:20b (GN)


By spending more than we earn, we are spending our future income; we are committing money we have not yet earned and are taking on a future obligation.

Financial FitnessFinancial Fitness is dependent more on what we spend than on what we earn.


Steps to Financial Fitness


Step One: Acknowledge that God owns it all.

Steward — a person charged with the management of property that belongs to another.

A steward is a manager.

Christians are responsible to God for the management of all their resources.

Who is the Owner?Who is the Owner?

• The earth is the LORD'S, and all it contains, The world, and those who dwell in it. Psalm 24:1 NASB

• 'The silver is Mine and the gold is Mine,' declares the LORD of hosts. Haggai 2:8

So, If God Owns It All…So, If God Owns It All…

• We are stewards and will give an account for our stewardship.

We WILL Give an AccountWe WILL Give an Account

• "Now after a long time the master of those slaves came and settled accounts with them.20"The one who had received the five talents came up and brought five more talents, saying, 'Master, you entrusted five talents to me. See, I have gained five more talents.'21"His master said to him, 'Well done, good and faithful slave. You were faithful with a few things, I will put you in charge of many things ; enter into the joy of your master. Matthew 25:19-23

The Tithe Belongs to the LORDThe Tithe Belongs to the LORD

• "Bring the whole tithe into the storehouse, so that there may be food in My house, and test Me now in this," says the LORD of hosts, "if I will not open for you the windows of heaven and pour out for you a blessing until it overflows . Malachi 3:10

Our Attitude Dictates How We GiveOur Attitude Dictates How We Give

• Now this I say, he who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. Each one must do just as he has purposed in his heart, not grudgingly or under compulsion, for God loves a cheerful giver. 2 Corinthians 9:6-7


It’s not what we don’t know. It’s what we do and don’t do.

WE MAKE CHOICES!



Step Two: Have a financial checkup!Each year—Physical Fitness Exam

Physical Checkup

•Complete medical history

•Complete blood count, including total cholesterol with HDL, LDL, and Triglyceride breakdown

•CA-125 blood test for females

•PSA test for males

•Chest X-Ray

•Urinalysis

•ECG, Resting/Stress

•Mammogram for females

•Colonoscopy or Sigmoidoscopy

•Annual pelvic exam for women

•Prostate exam for men

Financial FitnessFinancial FitnessHow about an annual Financial Fitness Exam?

Financial Checkup.

• Calculate your net worth.The value of what you own minus what you owe.The value of what you own minus what you owe.

Four ways to increase your net worth each year:1. Savings from earnings

2. Investment income and increased market value of those investments

3. Building home equity

4. Debt reduction


• Savings — how much are you saving?

Emergency Fund

College Fund

Retirement Account


Average Social Security Benefit

• Average individual retirement benefit for all retirees is now $1,177 per month ($14,124 per year)

• Average benefit for retired couple who each receive a benefit is $1,766 per month

• ($21,192 per year)


Emergency FundMoney saved to cover 3-6 months of living expenses.

College FundCost of Attending College in CA- Public College--$22,577 yr. CSU campuses- Private--$45,147 yr. on campus-cheaper

Retirement AccountRetirement is when the paycheck stops!!


• Insurance — are you covered?

Health

Disability

Life

Long-term care

Home Replacement Contents

(renters) Liability

Auto


- Insurance Facts• 30% of Americans have no life insurance.

• 56% who are insured are under-insured.

• One our of four Americans age 50 and older will be disabled at least once for six months or longer.

• A younger person is more likely to become disabled than die.

• Overweight now represents 25% of underwriting denials for medical insurance.


- Insurance Facts• Overweight related health issues now equal

cancer in total claims.

• Most Americans do NOT have an annual physical exam.

• 9 out of 10 employees who have company medical insurance will NOT be able to carry their policy into retirement. They will have to go through underwriting if they are under 65.


• Review Your Estate Plan

Wills

Trusts

Durable Power of Attorney for financial matters

Durable Power of Attorney for health care

Living Will


• Update Beneficiary Designations

Life Insurance

Retirement Plan

Wills

Judy Logan, CSBC

(559) 229-9533 ext. 267




Step Two: Have a financial checkup!

Step Three: Set some financial goals for the year• Goals provide direction and purpose• Goals help us to crystallize our thinking• Goals provide personal motivation• A goal is a statement of God’s will for you

Ron Blue, Master Your Money


• Financially support your church and mission causes

• Become a regular saver

• Establish an Emergency Fund.

• Pay off/reduce debt.

Examples of financial goals:


• Start a College Fund.

• Contribute to your Retirement Account.

• Pay cash for a new/pre-owned car.

• Buy needed insurance coverage.

Examples of financial goals:




Step Two: Have a financial checkup!

Step Three: Set some financial goals for the year

Step Four: Make a plan for spending

A spending plan is…

……an active strategy for getting wherever you want to go.an active strategy for getting wherever you want to go.

……the distribution of limited financial resources among the the distribution of limited financial resources among the financial goals you have set.financial goals you have set.



Rules for Financial Freedom

Allocate all of your income

Spend less than you receive

Never make purchases based

upon your checkbook balances.

Never Spend on Impulse!

If You Need a Budget….If You Need a Budget….

..\Personal Budget templates\Family monthly budget planner1.xls


““I expect to spend the rest of my life in the I expect to spend the rest of my life in the future, and I want to be reasonably sure future, and I want to be reasonably sure what kind of future it will be. That is the what kind of future it will be. That is the reason for planning.”reason for planning.”

Charles Kettering in speaking onCharles Kettering in speaking onthe importance of planning...the importance of planning...


Proverbs 22:3 LBProverbs 22:3 LB

““A prudent man foresees the A prudent man foresees the difficulties ahead and prepares for difficulties ahead and prepares for them; the simpleton goes blindly them; the simpleton goes blindly and suffers the consequences.”and suffers the consequences.”


““Money Don’t Grow On Money Don’t Grow On Trees”Trees”

Remember --Remember --

Rod Wiltrout(559) 287-7840 cell(559) 256-0858 direct [email protected]

Questions?Questions?

Date post:	27-Dec-2015
Category:	Documents
Upload:	blaise-collins
View:	215 times
Download:	0 times

Financial Fitness The plans of the diligent lead surely to advantage, but everyone who is hasty...

Documents