Wealth Mindset

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Financial Education

Transcript of Wealth Mindset

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WEALTH MINDSETWhat is that one thing that you desire most in your life?Wealth should not be the one thing that you desire wealth should only be the means in achieving your dreams.All is gift that we may grow these gifts and share them with others Matthew 19:16-24

16Once a man came to Jesus. Teacher, he asked, what good thing must I do to receive eternal life?17Why do you ask me concerning what is good? answered Jesus. There is only One who is good. Keep the commandments if you want to enter life.18What commandments? he asked.Jesus answered, Do not commit murder; do not commit adultery; do not steal; do not accuse anyone falsely; 19respect your father and your mother; and love your neighbor as you love yourself.20I have obeyed all these commandments, the young man replied. What else do I need to do?21Jesus said to him, If you want to be perfect, go and sell all you have and give the money to the poor, and you will have riches in heaven; then come and follow me.22When the young man heard this, he went away sad, because he was very rich.

Three steps in becoming truly wealthyDefine your purposeClarify your wealth beliefsImprove your abilities to create wealth

The first step to becoming truly wealthy is to first define your purposeWhy?John 15:8 8My Father's glory is shown by your bearing much fruit; and in this way you become my disciples. The second step is clarifying our beliefs about becoming wealthyWhat?God wants us to be truly wealthy11I alone know the plans I have for you, plans to bring you prosperity and not disaster, plans to bring about the future you hope for. (Jeremiah 29:11)Luke 16:9-11

9And Jesus went on to say, And so I tell you: make friends for yourselves with worldly wealth, so that when it gives out, you will be welcomed in the eternal home. 10Whoever is faithful in small matters will be faithful in large ones; whoever is dishonest in small matters will be dishonest in large ones.11If, then, you have not been faithful in handling worldly wealth, how can you be trusted with true wealth? Kinds of WealthSpiritual WealthIntellectual WealthInterpersonal WealthFinancial WealthPhysical WealthThe third step is developing the ability to become truly wealthyHow?What must we do?Put it on paperDont do it aloneRevise your routinesSurround yourself with different peopleKeep on LearningStay healthyPray and thank the Lord everyday

PUT IT ON PAPERCreate a Dream Board

DON NOT DO IT ALONEWork as a family

REVISE YOUR ROUTINESYou wont be truly wealthy if you keep on doing what you have been doing in the past.Your future depends on what you decide to do today.A change in routines leads to a change in habits.

BE WITH DIFFERENT PEOPLEYou are influenced by those around you.Hang out with positive people

KEEP ON LEARNINGReadAttend seminarsDont think you know everythingEven the ignorant and the least of persons has something to teach us

STAY HEALTHYExerciseEat healthyEnergize you mind, body, heart and soulA healthy tree does not bear bad fruit, nor does a poor tree bear good fruit. - Luke 6:43PRAY AND THANK THE LORDGo to MassPerform the SacramentsGo on retreatsReflect Remember all is giftThe only way blessings will stop is to go away from GodBut God has a way of finding us because He loves us.

IMPROVING MY FINANCIAL HEALTHBECOMING FREE TO LOVE AND SERVE THE LORDTHE SPIRITUALITY OF ABUNDANCEI cannot give what I do not haveThe more I have the more I can giveTimeTalentTreasures

THE WAY TO FINANCIAL FREEDOMDistinguish NEEDS from WANTSUnderstand INCOMEUnderstand SAVINGS, BORROWINGS, INVESTMENTSNEEDS and WANTSThings I cannot live without are NEEDSThings I can forego are WANTSNEEDS AND OUR LIFE CYCLE

NEEDSEXPENSESINCOMEINCOME STAGESWe work for moneyMoney works for usACTIVE INCOMEPASSIVE INCOMEINVESTMENTSAnything that gives us passive income is a form of investment

SAVINGS AND BORROWINGSINCOMETOMORROWINCOMETODAYEXPENSETODAYEXPENSETOMORROWSAVINGSBORROWINGOUR BASIC MONEY PROBLEMSIf we leave too soonIf we live too longIf we save too littleIf we borrow too much2 Corinthians 12:14children should not have to provide for their parents, but parents should provide for their children.

Proverbs 6:6-86Lazy people should learn a lesson from the way ants live. 7They have no leader, chief, or ruler, 8but they store up their food during the summer, getting ready for winter.

Proverbs 22:7

7Poor people are slaves of the rich. Borrow money and you are the lender's slave.WHAT MUST WE DO?Pay-off your debtsAvoid debts if it is not used for businessCreate an emergency fundGet insuranceSet aside part of your income for future needsInvest 30% of your incomeLive within the 70% of your incomeLUKE 16 9-11Handling money does is not outside your relationship with God. Proverbs 6: 6-8 The only way blessings stop is to go away from God.What if you live up to a hundred? (proof) NSO graphIf God calls us, we must be ready to go. Living too long is a blessing but it can be a burden if you are not spiritually healthy, physically healthy, financially healthyHow many have you seen old people working. Story of father being given away by daughter.Stop borrowing (too much) Prov 22: 7 (compare borrowing interest with savings) (give example of credit card debt stress): marital fights, income goes to debt repayments, you delay payments for other billsProtect your assets get a term insuranceLive on 70% of your income. (some of us live on 110%) control your little expenses. Compute your salary over the years and how much have you saved. Give examples of unnecessary expenses and then compute if you saved it for 10 years. You can save it in a bank or invest it (compute) give examples of people who know how to save like saving even text message. Set aside 30% for your special funds: Freedom fund (6.66% to pay your debts) create an emergency fund (one year worth of salary for any kind of emergency fund), wealth fund for our future 20%, Tithe fund 10%.

Prov 10:11Prov 27:23Two stages of your financial life. Man works for money and when money works for man.Serve God full time because your needs are provided for by your money machinesPurpose is not just to become wealthy the purpose is to serve the Lord with your money.Chicken with the golden egg story. (just like the OFW boxes)Filipinos are poor because we love money I want a car, then gas, then registration, then battery, etc. etc. Why not create a money machine to produce money If you have money but you dont have a money machine, the money becomes a burden. Because we buy more stuff that needs money to maintain.Financial wealth what is it. Cash, property, house, car etc.Its the mindset to create money and the ability to make money this is financial wealth.What if we are all equally given the same amounts of money they will all go back to the same people. Because they have the mindset. Example CARP. If you want to help the poor, dont give them money give them a mindset and ability to create money machines.Two kinds of money machines: Manual (typewriter) I have to be here to work to produce something. Automatic you dont need to be here. JOB / Self Employment it starts there. We exchange our time and talents for money. Paper Assets, Business, and Property. Example: Paper Assets mutual funds, stock markets, bonds. Give example of how it works.Property ex. Rent to own or rentals