How to have more money

without stealing it

or lying to get it.

The LORD is my shepherd; I shall not want. Psalms 23:1

But my God shall supply all your need according to his riches in glory by Christ Jesus. Philippians 4:19

Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh, and the lust of the eyes, and the pride of life, is not of the Father, but is of the world. 1 John 2:15-16

• What is the difference between and want and need?

• Want Verb1.to feel a need or a desire for; wish for: to want one's dinner; always wanting something new.2.to wish, need, crave, demand, or desire (often followed by an infinitive):I want to see you. She wants to be notified.

• Need Verb• 1.to have need of; require: to need money.• 2.Necessity

• Necessities Noun• 1.something necessary or indispensable: food, shelter, and other necessities of life.

Dave Ramsey “ Sometimes you have to tell ourselves NO so later you can tell yourself yes.”

What are the top four

necessities of life?

Too often we confuse the words NEED & WANT with each other.

Little and Big Foxes that caused financial problems

• A closer look at the stuff and what to do.

• What do you use daily?• What do you use weekly?• What do you use monthly?• What do you use once in awhile?• What do have and haven’t used in months or years?

• More $$$• OfferUp.com• Craigslist.com• Letgo.com• eBay.com• sell.ebth.com• bonanza.com• webclassifieds.us

We’ve talked about how to get rid of the stuff.

Dave Ramsey “Success requires sacrifice. The

first step to a good plan is deciding what you are willing to give

up.”

How to Get Out of Debt Faster

• Unfortunately, the space between realizing you need to pay off debt and getting out of debt can be wrought with hard work and heartache. No matter what kind of debt you’re in, paying it off can take years — or even decades.

• Fortunately, some strategies exist that can make paying off debt faster — and a whole lot less painful. If you’re ready to get out of debt, consider these tried-and-true methods:

Dave Ramsey “Mortgage shouldn’t be more than 25% of your monthly income.”

Method # 1: Pay more than the minimum payment

If you carry the average credit card balance of $15,609, pay a typical 15% APR, and make the minimum monthly payment of $625, it will take you 13.5 years to pay it off. And that’s only if you don’t add to the balance in the meantime, which can be a challenge on its own.

Whether you’re carrying credit card debt, personal loans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment. Doing so will not only help you save on interest throughout the life of your loan, but it will also speed up the payoff process. To avoid any headaches, make sure your loan doesn’t charge any prepayment penalties before you get started.

Method # 2: Snowball method

If you’re in the mood to pay more than the minimum monthly payments on your credit cards and other debts, consider using the snowball method to speed the process up even more and build momentum.

As a first step, you’ll want to list all the debts you owe from smallest to largest. Throw all your excess funds at the smallest balance, while making the minimum payments on all your larger loans. Once the smallest balance is paid off, start putting that extra money toward the next smallest debt until you pay that one off, and so on.

Over time, your small balances should disappear one by one, freeing up more dollars to throw at your larger debts and loans. This “snowball effect” allows you to pay down smaller balances first — logging a few “wins” for the psychological effect — while letting you save the largest loans for last. Ultimately, the goal is snowballing all your extra dollars toward your debts until they’re demolished — and you’re finally debt-free.

Dave Ramsey “A budget is telling your money where to go instead of wondering

where it went.”

Method # 3: Picking up a side job

Attacking your debts with the debt snowball method will speed up the process, but earning more money can amplify your efforts even further. Nearly everyone has a talent or skill they can monetize, whether it’s babysitting, mowing yards, cleaning houses, or becoming a virtual assistant.

With sites like TaskRabbit.com and Upwork.com, nearly anyone can find some way to earn extra money on the side. The key is taking any extra money you earn and using it to pay off loans right away.

Method # 4: Create (and live with) a bare-bones budget.

If you really want to pay down debt faster, you’ll need to cut your expenses as much as you can. One tool you can create and use is a bare-bones budget. With this strategy, you’ll cut your expenses as low as they can go and live on as little as possible for as long as you can.

A bare-bones budget will look different for everyone, but it should be devoid of any “extras” like going out to eat, cable television, or unnecessary spending. While you’re living on a strict budget, you should be able to pay considerably more toward your debts.

Remember, bare-bones budgets are only meant to be temporary. Once you’re out of debt — or a lot closer to your goal — you can start adding discretionary spending back into your monthly plan.

38 Ways to Cut Expenses

Creating a Bare-Bones Budget

Method # 5: Sell everything you don’t need.

If you’re looking for a way to drum up some cash quickly, it might pay to take stock of your belongings first. Most of us have stuff lying around that we rarely use and could live without if we really needed to. Why not sell your extra stuff and use the funds to pay down your debts?

If you live in a neighborhood that permits it, a garage sale/ yard sale is normally the cheapest and easiest way to unload your unwanted belongings for a profit.

• OfferUp.com• Craigslist.com• Letgo.com• eBay.com• sell.ebth.com• bonanza.com• webclassifieds.us

Dave Ramsey “The world will try to tell you that you need stuff to be somebody.

Don’t listen.”

Method # 6: Get a seasonal part-time job

During the holidays, local retailers are on the lookout for flexible, seasonal workers who can keep their stores operational during the busy, festive season. If you’re willing and able, you could pick up one of these part-time jobs and earn some extra cash to use toward your debts.

Even outside of the holidays, plenty of seasonal jobs may be available. Springtime brings the need for seasonal greenhouse workers and farm jobs, while summer calls for tour operators and all types of outdoor, temporary workers from lifeguards to landscapers. Fall brings seasonal work for pumpkin patches, fall harvest or even baking pies and cakes for sale.

The bottom line: No matter what season it is, a temporary job without a long-term commitment could be within reach.

Method # 7: Get a seasonal part-time job

If your credit card interest rates are so high it feels almost impossible to make headway on your balances, it’s worth calling your card issuer to negotiate. Believe it or not, asking for lower interest rates is quite commonplace. And if you have a solid history of paying your bills on time, there’s a good possibility of getting a lower interest rate.

Beyond credit card interest, several other types of bills can usually be negotiated down or eliminated as well. — we highlighted them in Bills Worth Negotiating.

Always remember, the worst anyone can say is no. And the less you pay for your fixed expenses, the more money you can throw at your debts.

Bills Worth Negotiating

Method # 8: Consider a balance transfer

If your credit card company won’t budge on interest rates, it may be worth considering a balance transfer. With many balance transfer offers, you can secure 0% APR for up to 15 months, although you might need to pay a balance transfer fee of around 3% for the privilege.

Dave Ramsey “When your outgo exceeds your income, your

upkeep will be your downfall.”

Method # 9: Use found money to payoff balances.

Most people come across some type of “found money” throughout the year. Maybe you get an annual raise, an inheritance, or bonus at work. Or maybe you count on a big, fat tax refund every spring. Whatever type of “found money” it is, it could go a long way toward helping you become debt-free.

Each time you come across any unusual sources of income, you can use those dollars to pay off a substantial chunk of debt. If you’re doing the debt snowball method, use the money to pay down your smallest balance. And if you’re left with only big balances, you can use those dollars to take a huge chunk out of whatever’s left.

Method # 10: Drop expensive habits

If you’re in debt and consistently coming up short each month, evaluating your habits might be the best idea yet. No matter what, it makes sense to look at the small ways you’re spending money daily. That way, you can evaluate whether those purchases are worth it — and come up with ways to minimize them or get rid of them.

If your expensive habit is smoking or drinking -quit. Alcohol and tobacco do nothing for you except stand between you and your long-term goals. If your expensive habit is different like daily milkshake, daily latte, restaurant lunches during work hours, or fast food: the best plan of attack is usually cutting way down with the goal of eliminating these behaviors or replacing them with something less expensive.

Method # 10: Drop expensive habits

If you’re in debt and consistently coming up short each month, evaluating your habits might be the best idea yet. No matter what, it makes sense to look at the small ways you’re spending money daily. That way, you can evaluate whether those purchases are worth it — and come up with ways to minimize them or get rid of them.

If your expensive habit is smoking or drinking -quit. Alcohol and tobacco do nothing for you except stand between you and your long-term goals. If your expensive habit is different like daily milkshake, daily latte, restaurant lunches during work hours, or fast food: the best plan of attack is usually cutting way down with the goal of eliminating these behaviors or replacing them with something less expensive.

Dave Ramsey “CHANGE! If you keep doing what you’re doing, you’ll

keep getting what you’re getting.”

Method # 10: Drop expensive habits – Cont.

Habit #1: Paying your bills on timeHabit #2: Creating a monthly budgetHabit #3: Investing regularly and increasing contributions as you earn moreHabit #4: Tracking your financial progress and net worthHabit #5: Make savings a priorityHabit #6: Stay on the wagon, no matter whatHabit #7: Keep an eye on your credit healthHabit #8: Save on daily, weekly, and monthly purchasesHabit #9: Spending less than you earnHabit #10: Being the CEO of your own life

Method # 11: Step away from the _____.

We’re all tempted by something. For many, it might be the local mall or our favorite online store. For others, it might be driving by a favorite restaurant and wishing we could pop inside for a favorite meal. And for those with a tendency for spending, having a credit card in their wallet is too much temptation to bear.

Whatever your biggest temptation is, it’s best to avoid it altogether when you’re paying down debt. When you’re constantly tempted to spend, it can be difficult to avoid new debts, let alone pay off old ones.

So, avoid temptations, even if that means taking a different way home, avoiding the Internet, or keeping the fridge stocked so you aren’t tempted to splurge. And if you must, stash those credit cards away in a sock drawer for the time being. You can always bring them back out once you’re debt-free.

Dave Ramsey “Debt is a product that has been sold to us with such repetition and intensity that most people believe they can’t live without it.”

Basic Review

1. Make A List• Having everything written out in front of you is really the key to success here. Plus, once you’ve written it all out, and it’s right there in black and white, it may not seem as insurmountable as it did before.

• Make a list of all your debts: name of creditor, interest rate, balance, minimum monthly payment.

• Also list how much you’ll need to pay in order to zero-out the cards’ debt within three years, as found on credit card statements.

• Remember to include loans not listed on your credit reports (e.g. family loans, medical bills).

2. Lower Your Rates

• Paying high interest rates on existing debt causes your

debt to really mount, and makes paying it off much more

difficult. If possible, you want to lower those interest rates.

Here’s what to do: Based on your credit, you may qualify

for much better interest rates on credit cards.

• Open a free account with Credit.com and see what kind of low rate balance transfer

credit cards you can get.

• Check out student loan consolidation and Income-based Repayment at

StudentLoans.gov.

• Call your card issuers to ask for lower rates on credit card balances.

• Consider a consolidation loan and/or balance transfers to pay off high-rate credit

cards at a lower rate.

• Find out if you can refinance a high-rate auto

loan. Dave Ramsey “Don’t let anyone convinceyou to buy things you don’t need. Develop power over purchase and learn to say no.”

3. Get Your Number• Once you know what your total payoff number is, you’ll have a real, complete goal to work towards.• Total the three-year pay-off amount for all your credit cards.• Add the monthly payments for all other debts.• Write down the result: Your Total Monthly Payment.

4. Plan Your Strategy

• There are plenty of ways to attack this problem and

you’ll likely approach this using a variety of tools and

methods. Plan your strategy carefully.

• Determine if you can afford to pay the Total Monthly

Payment until your debt is paid off.

• If not doable, contact a credit counseling agency

and/or bankruptcy attorney for advice.

• If doable, decide which debt to pay off first (highest

interest rate or lowest balance?) — “target debt.”

• Set up “auto pay” for required minimum for all debts

except target debt.

• Pay as much as possible toward target debt until paid

off.

• Choose new target debt and pay extra toward that

one, and so on.

Family finance is a great opportunity to takemarriage to a better level.

5. Monitor & Adjust

• Once your plan is set, don’t get too comfortable. You’ll need to

track your behavior closely to make sure you’re making progress,

and you’ll want to make adjustments when necessary.

• Some groups suggest that you monitor your credit score each

month to see if your credit score improves (over time it should). But I

do not because if you are planning in the near future to get a loan for

a large items these frequent inquires will ding you.

• As your credit score improves, reconsider a consolidation loan or

balance transfers to save money often spent on interest charges for

remaining debts. (Your interest charges are often listed on your

credit card statement.)

• Stick with your plan until your debt is paid off.

• As you begin to work this system, keep in mind that it’s not easy.

Just like losing weight, losing your debt takes work, but you can do it

and your perseverance can make it happen.

• Don’t fret if you need to make adjustments along the way.

This isn’t about a quick fix, it’s about changing your habits

and behaviors so you can achieve your financial goals.

Financial Peace

Making Money Your Friend

Managing God’s Money

Crown Financial

Why Tithing is Important

10 Reason Why I Tithe

Your 3 Biggest Questions on Tithing and Giving, Answered!

Additional Helps & Support

Homework: • Make the list.• Make the calls (get those bills lowered).• Sell your stuff.

• Goodnight and thank you for coming.

Future Questions or Prayers of Encouragement(704) 264-6507 or

info@christ-life-ministries.com