Gods Word, Money, and You

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Gods Word,Money, and You

• Debt
• Session 5

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Debt

• The rich rules over the poor, And the borrower
  becomes the lender's slave.
• Proverbs 227

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Reasons to Avoid Debt

• Debt Interferes With Our Ability to Love Others
• Romans 138-10
• Debt Is Not As Necessary As You Think
• Hebrews 135
• Debt Encourages Presumption About Tomorrow
• James 413-17
• Debt Seeks a Shortcut to Gods Promised Blessings
  For Obedience
• Deuteronomy 2812-13
• Debt Makes You a Slave
• Deuteronomy 2843-44

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Types of Debt

• Poverty (Necessity)
• Business
• Convenience
• Luxury (Indulgence)

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Getting Out of Debt

• Stop ALL Borrowing
• Get on a Budget
• Workout a Payback Plan
• List ALL Debts (Hidden Debts)

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Debt List
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Getting Out of Debt

• High to Low Interest Rate Method
• Snowball Method
• Trust God to Meet Needs
• Exercise a Self-Disciplined Lifestyle
• No Impulse Buying

• Stop ALL Borrowing
• Get on a Budget
• Workout a Payback Plan
• List ALL Debts (Hidden Debts)

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Impulse Buying
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Getting Out of Debt

• Stop ALL Borrowing
• Get on a Budget
• Workout a Payback Plan
• List ALL Debts (Hidden Debts)
• High to Low Interest Rate Method
• Snowball Method
• Trust God to Meet Needs
• Exercise a Self-Disciplined Lifestyle
• No Impulse Buying

• Seek Counsel

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Bankruptcy

• Chapter 7
• Straight Bankruptcy
• Chapter 13
• Individual Reorganization
• Chapter 11
• Corporate Reorganization
• Chapter 12
• Farm Reorganization

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Homework

• HTMYM - Chapter 5
• FFW - Chapters 3 - 4
• Monthly Income Expenses Form
• Family Needs Categories
• Housing
• Food
• Automotive
• Insurance
• Entertainment Recreation
• Clothing
• Savings
• Medical
• Miscellaneous
• School / Child Care
• Investments

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Did You Know . . .
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Tax Returns - Due 15 April

• For Next Year
• Save Receipts/Keep Better Records
• Revise Your Withholding if Needed
• Fill Out a New W-4
• Reduce Exemptions if You Owe
• Increase Exemptions if You Receive a Big Refund
• Make Estimated Payments if Self-Employed
• 2004 First Payment - Due 15 April

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Comments / Questions?