christian personal financial planning workshop 2012 -

Christian Financial Planning Christian Financial Planning Workshop Workshop

Saturday, January 21Saturday, January 21stst at 10 AM at 10 AM

Barnett Road Baptist Church Barnett Road Baptist Church

““The Truth Church”The Truth Church”1500 Barnett Road1500 Barnett Road

Columbus, OH 43227Columbus, OH 43227614.231.8320614.231.8320

BRbcMinistries@gmail.com

Get to the Truth!Get to the Truth!

Seek first the Kingdom of God!Seek first the Kingdom of God!

(Matthew 6:33)(Matthew 6:33)

God – Self - OthersGod – Self - Others2929 Jesus answered, “The foremost Jesus answered, “The foremost is, ‘HEAR, O ISRAEL! THE LORD OUR is, ‘HEAR, O ISRAEL! THE LORD OUR GOD IS ONE LORD; GOD IS ONE LORD;

3030 AND YOU SHALL LOVE THE LORD AND YOU SHALL LOVE THE LORD YOUR YOUR GODGOD WITH ALL YOUR HEART, WITH ALL YOUR HEART, AND WITH ALL YOUR SOUL, AND WITH AND WITH ALL YOUR SOUL, AND WITH ALL YOUR MIND, AND WITH ALL YOUR ALL YOUR MIND, AND WITH ALL YOUR STRENGTH.’ STRENGTH.’

3131 “The second is this, ‘YOU SHALL “The second is this, ‘YOU SHALL LOVE YOUR LOVE YOUR NEIGHBORNEIGHBOR AS AS YOURSELFYOURSELF.’ There is no other .’ There is no other commandment greater than these.” commandment greater than these.” ((Mark 12:29–31) 12:29–31)

BudgetingBudgeting

Record...Record... IncomeIncome ExpensesExpenses

Complete your Complete your monthly spending monthly spending plan.plan.

Identify two line Identify two line items to improve.items to improve.

Waste not! Want not!Waste not! Want not!

(Luke 15:13)(Luke 15:13)

Compare car insurance Compare car insurance rates annually.rates annually.

When will you do this When will you do this annually?annually?

What are the state What are the state requirements for car requirements for car insurance?insurance?

Do you have the right Do you have the right credit card?credit card?

The greatest in the Kingdom is the one who The greatest in the Kingdom is the one who serves.serves.

(Matthew 23:11)(Matthew 23:11)

How can you increase How can you increase your income?your income?

Can you adjust your Can you adjust your tax withholdings? tax withholdings?

What will you do with What will you do with the extra income?the extra income?

What are some ways What are some ways you can save money?you can save money?

What will you do with What will you do with the extra cash?the extra cash?

NAME SOME MONEY WASTERSNAME SOME MONEY WASTERS Overdraft feesOverdraft fees Late feesLate fees Interest expenseInterest expense Lottery ticketsLottery tickets Too many fast food stopsToo many fast food stops Others?Others?

NAME SOME MONEY SAVERSNAME SOME MONEY SAVERS CouponsCoupons Dining in instead of Carry out or Dining Dining in instead of Carry out or Dining

outout Thrift storesThrift stores Amazon, Half Priced Books, LibraryAmazon, Half Priced Books, Library Asking for lower interest ratesAsking for lower interest rates Transferring credit card balancesTransferring credit card balances Others?Others?

The borrower is the lender’s slave.The borrower is the lender’s slave.

(Proverbs 22:7)(Proverbs 22:7)

WorstWorst

BadBad

WorstWorst

BadBad

GoodGood

BestBest

GoodGood

BestBest

Destructive DebtDestructive Debt(Dysfunctional Debt)(Dysfunctional Debt)

Your Value DropsYour Value Drops

Gambling DebtsGambling DebtsCash AdvancesCash AdvancesCredit CardsCredit CardsAuto LoansAuto Loans

Constructive Constructive DebtDebt

(Productive Debt)(Productive Debt)

Your Value ClimbsYour Value Climbs

EducationEducation Business Business

LeverageLeverage HomeHome InvestmentInvestment

What kind of debts do What kind of debts do you have?you have?

DestructiveDestructiveConstructiveConstructive

What are your options What are your options if you have more if you have more expenses than income?expenses than income?

Complete the debt Complete the debt elimination elimination worksheet.worksheet.

What is your goal?What is your goal? How often will you How often will you

review and revise it?review and revise it?

Time vs. RiskStock Market

College Savings PlansRoth IRA

What is your risk What is your risk aversion?aversion?

Time vs. RiskTime vs. Risk

Can the stock market Can the stock market make you rich?make you rich?

What are the primary What are the primary investments in the stock investments in the stock market?market?

Is a mutual fund a good Is a mutual fund a good investment tool?investment tool?

Is owning your business a Is owning your business a good investment?good investment?

Is real estate a good Is real estate a good investment?investment?

What is a good way to What is a good way to save for your child’s save for your child’s college expenses?college expenses?

What is an IRA?What is an IRA? What is a Roth IRA?What is a Roth IRA? What is a 401(k) or What is a 401(k) or

403(b)?403(b)?WHAT’S NEXT?WHAT’S NEXT?

Pastor Kevin M Pastor Kevin M ThomasThomas Lady Jowanda ThomasLady Jowanda Thomas