Monday, June 23, 2014

Financial Freedom - Week Three

Here are the notes for the third Financial Freedom class taught at NVBC. The first class (click here ) was taught by the Pastor and the youth Pastor's wife. The second class (click here ) was taught by just the Pastor.

The third class was taught by the youth Pastor and his wife. Only three of us attended that class. It was just perfect however.

I did my homework and had a discussion with Curtis. Every time I wanted to talk about money, he would roll his eyes and sigh. Then he would say "We don't have any. There we talked." So I prefaced it by telling him how much we bring in monthly and that the talk is "good news".

With the children out of the house for at least an hour, I pulled up the tracking system (Mint) that I use. Then we talked. It was a good talk. It was a short talk. Here it is and this is what we need to do. He was happy. I was satisfied and then we watched Deadliest Catch together.

Here are our goals:

  • Pay off the house in four years.
  • Have an emergency fund with 3 months salary
  • Resume the college fund.
  • Pay the credit card off each month.


Finances & Relationships

Reviewing Biblical Principals
  1. It's God's money.
  2. It's our responsibility.
  3. You should be pursuing devotion to God together.
  4. "What are our financial goals in light of God's purposes?"
  5. "What is the best way to pursue these goals together?"

Diagnosis

  • Problem #1 - I don't trust God.
  • Problem #2 - I don't trust my spouse.
  • Problem #3 - I'm selfish.
  • Problem #4 - Old habits die hard.
  • Problem #5 - We don't know how to communicate about money.

Path To Healing

1.   Talk to God.
  • Ask Him to search your heart.
  • Ask Him to bring healing in those areas of struggle.
  • Pray for your spouse

2.   Talk to your spouse.
  • Set a day and time to talk.
  • Pray together before you start talking.
  • Express your love for and commitment to one another
  • .No raising your voice/yelling.
  • No accusing. "You always...I never..."
  • Take turns talking.
  • Lay it all out.
  • Ask for and give forgiveness.
  • Embrace your spouse's financial past.
  • Discuss your financial goals in light of God's purposes.
  • Make an action plan.

Money & Other Relatives

  1. You have a responsibility to care for your relatives.  1 Timothy 5:3-16
  2. You are especially responsible to care for your household. 1 Timothy 5:8
  3. This responsibility ends at needs; it's not about wants.
  4. Don't make loans to family.
Are you being a bad steward who is helping someone to be a bad steward?



When Husband & Wife Disagree

  1. The husband has the authority to make the final decision. Ephesians 5:22-24
  2. This is also true for unbelieving husbands.  1 Peter 3:1-6
  3. Such decisions must be made with love and understanding. Ephesians 5:25


Homework

Spouses - Have a discussion; set financial goals.
Singles - Continue to seek a financial accountability buddy.
Everyone - Write down and bring a list of monthly expenses (including things that are paid every 3 to 6 months) and a list of incoming cash flow. We start budgeting next time.






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