Strapped: Part 3


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STRAPPED

THE BUCK STARTS HERE

 

Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.

Proverbs 6:6-8

 

In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.

Proverbs 21:20

 

WHAT WILL WE SAVE FOR?

  • EMERGENCIES      
  • PURCHASES           
  • FUTURE                    

 

PRIORITIZE YOUR DOLLARS

 

  • TITHE
  • EXPENSES
  • EMERGENCY FUND
  • DEBT
  • INVEST

 

TWO WAYS TO MAKE MONEY

 

  • PEOPLE MAKING MONEY.

 

…If a man will not work, he shall not eat.

2 Thessalonians 3:10

 

  • MONEY MAKING MONEY.

 

The man who had received the five talents went at once and put his money to work and gained five more.

Matthew 25:16

 

RULES OF INVESTING

 

  • DON’T INVEST IN THINGS YOU DON’T UNDERSTAND.

 

By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures.

Proverbs 24:3-4

 

  • DON’T PUT ALL YOUR EGGS IN ONE BASKET.

 

Give portions to seven, yes to eight, for you do not know what disaster may come upon the land.

Ecclesiastes 11:2

 

  • DON’T TRY TO GET RICH QUICK.

People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction.

1 Timothy 6:9

 

…he who gathers money little by little makes it grow.

Proverbs 13:11

 

  • Money + Time + Consistency = Wealth.

 

$5 a day invested at 12% over time:

            5 years          $12,250

            10 years          $34,505

            20 years          $148,388

            30 years          $524,244

            40 years          $1,764,716     

            50 years          $5,858,750     

 

If a 30-year-old makes $48,000 a year and saves 15% ($600 a month) in a 401(k) at 12%, by the age 70, they will have $7,058,863 in their 401(k).

 

TALK IT OVER

 

  • What’s your vision for your financial life?
  • How are you investing for the future? What steps might you need to take to improve the way you invest?
  • Whose life do you need to invest in? What steps will you take to invest in them?