This number is from January 2012. I saw that and immediately became angry. I have paid the credit card company almost $500. For what? For letting them let me use/borrow money. I was outraged and immediately paid the card off.
I am vowing to not pay any more fees. Please hold me to this statement.
I said to Amanda, "Today marks the 5 millionth time we have paid off the credit card".
The first part is taught by Brenda:
Dave Ramsey's Baby Steps
- $1000 to start and emergency fund.
- Pay off all debt using the Debt Snowball (explained in Week Five)
- Then 3-6 months of living expenses.
b. this is for emergencies only
c. once used pay it back as soon as possible
- Invest 15% income into Roth IRA & pre tax retirement
b. Max 401K is $17,500
- College funding for children
Parents, you may have mixed emotions about funding this for your child/children. But this is NOT OUR responsibility.
- Pay off the house.
We have four more years on our 1997 mortgage.
- Build wealth and GIVE.
How to Protect What God Has Blessed You With
- Life Insurance
I insisted upon it after my father died. We didn't have it until 2011. It's $134 a month for the two of us. Definitely affordable.
b. Base amount is 10-20x annual salary.
2. Health Insurance
a. This is one of the biggest causes of bankruptcy.
b. If you can't afford a traditional policy, consider a catastrophic one.
a. Renters insurance is super cheap
b. Home owners: make sure you are covered for replacement value.
That is something I will have to check on tomorrow.
4. Car Insurance
5. Remember our trust is NOT in insurance but in GOD.
a. He is ultimately in control.
b. We are called to be faithful stewards (with His money).
c. God CAN and WILL provide.
NO HOMEWORK! Next class is on mortgages, retirement and investing.
The second part is taught by Pastor Joe
Biblical Giving and Combating Greed
1. The challenge is how to build wealth without getting greedy.
Then he said to them, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions.” Luke 12:15
a. The purpose of "wealth" is:
- to meet needs (food and clothing)
- to bless
You will be enriched in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God." 2 Corinthians 9:11
b. The snare of wealth is the more it increase our wants start to be defined as needs.
2. The antidote to greed is generosity.
Yes, there is a difference between giving and being generous.
What keeps us from giving? Unbelief, insecurity, pride, idolatry, control, power, jealousy, etc.
"Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." 1 Timothy 6:9-10
3. Developing habits that foster generous living:
a. Learn and practice contentment.
"But godliness with contentment is great gain. 7 For we brought nothing into the world, and we can take nothing out of it." 1 Timothy 6:6-7
"Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. 18 Command them to do good, to be rich in good deeds, and to be generous and willing to share." 1 Timothy 6:16-17
b. (Re) define what being successful is.
"Then he said to them, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions. And he told them this parable: “The ground of a certain rich man yielded an abundant harvest. 17 He thought to himself, ‘What shall I do? I have no place to store my crops.’" Luke 12:15-17
c. You don't have to be rich to give!
As Jesus looked up, he saw the rich putting their gifts into the temple treasury. 2 He also saw a poor widow put in two very small copper coins. 3 “Truly I tell you,” he said, “this poor widow has put in more than all the others. 4 All these people gave their gifts out of their wealth; but she out of her poverty put in all she had to live on.” Luke 21:1-4
How much is enough?
Who is successful?
"Generosity" has little to do with how much you give and more to do with:
- why you do/do not give
- how much you kept back to yourself.
d. Often will have the element of sacrifice:
"And now, brothers and sisters, we want you to know about the grace that God has given the Macedonian churches. 2 In the midst of a very severe trial, their overflowing joy and their extreme poverty welled up in rich generosity. 3 For I testify that they gave as much as they were able, and even beyond their ability. Entirely on their own, 4 they urgently pleaded with us for the privilege of sharing in this service to the Lord’s people. 5 And they exceeded our expectations: They gave themselves first of all to the Lord, and then by the will of God also to us. 6 So we urged Titus, just as he had earlier made a beginning, to bring also to completion this act of grace on your part. 7 But since you excel in everything—in faith, in speech, in knowledge, in complete earnestness and in the love we have kindled in you[a]—see that you also excel in this grace of giving." 2 Corinthians 8:1-7
e. Look for opportunities (greedy people find reasons not to give).
f. Every act of giving is to GOD FIRST. (100% of our money belongs to Him anyway).
g. Knows the difference between a hotel and home.
We don't rent a hotel and buy a big screen TV and new furniture to decorate our temporary home. This world, too, is our temporary home. Are we storing up riches?
"All these people were still living by faith when they died. They did not receive the things promised; they only saw them and welcomed them from a distance, admitting that they were foreigners and strangers on earth." Hebrews 11:13
"Instead, they were longing for a better country—a heavenly one. Therefore God is not ashamed to be called their God, for he has prepared a city for them." Hebrews 11:16
"But our citizenship is in heaven. And we eagerly await a Savior from there, the Lord Jesus Christ" Philippians 3:20
4. "Tithes and Offerings" when I am working through my debts?!?"
- Old Testament "tithes" was not 10%. It was 23 1/3% + offerings.
- Is there a difference between Old Testament and New Testament? Yes.
- Is New Testament giving more or less than Old Testament? Yes
Jesus has filled all OT laws. But He has elevated them.
"But in fact the ministry Jesus has received is as superior to theirs as the covenant of which he is mediator is superior to the old one, since the new covenant is established on better promises." Hebrews 8:6
"Now about the collection for the Lord’s people: Do what I told the Galatian churches to do. 2 On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made. 3 Then, when I arrive, I will give letters of introduction to the men you approve and send them with your gift to Jerusalem." 1 Corinthians 16:1-3
"The disciples, as each one was able, decided to provide help for the brothers and sisters living in Judea." Acts 11:29
"Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver." 2 Corinthians 9:7
Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. 7 Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. 8 And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work. 9 As it is written:
“They have freely scattered their gifts to the poor;
their righteousness endures forever.”[a]
their righteousness endures forever.”[a]
10 Now he who supplies seed to the sower and bread for food will also supply and increase your store of seed and will enlarge the harvest of your righteousness. 11 You will be enriched in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God.12 This service that you perform is not only supplying the needs of the Lord’s people but is also overflowing in many expressions of thanks to God. 13 Because of the service by which you have proved yourselves, others will praise God for the obedience that accompanies your confession of the gospel of Christ, and for your generosity in sharing with them and with everyone else. 14 And in their prayers for you their hearts will go out to you, because of the surpassing grace God has given you. 15 Thanks be to God for his indescribable gift!" 2 Corinthians 9:6-15
Questions and Recommendations
- When it comes to tithes/offerings, is your question more about how to give the minimum and get away. Or are you looking for ways to give more?
- Do you know to live in grace (versus guilt, shame, fear, etc.)
- Give first to God. It's between you and God
- Give in faith.
"Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. 7 Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver". 2 Corinthians 9:6-7