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Act Your Wage
Act Your Wage
Money serves us as we serve God
Debt Free Living Principles
Principle #2: I act my wage by cutting the fat
Heb.13:5
Keep your lives free from the love of money and be content with what you have, because God has said Never will I leave you, never will I forsake you
Living beneath my means is possible if I deny myself and adjust my lifestyle
- Cell phone=$69/m or $828/yr
- Cable=$54/m or $648/yr
- Trips=$3000/yr/family
- Eating out=$2300/adult
- Bad habits=smoking 1 pack per day =$84/wk or $4368/yr
- Beer=1 case /wk=$36 or $1872/yr
- Coffee=2 Tims a day $3.40/day or $1241/yr
- Kids in sports=$1500/yr/kid
- Total=$15,750/yr
Give up something I love for something I love even more
Principle #1: I act my wage by spending wisely
Principle #3: I act my wage by planning ahead
I'm going to live like no one else,
So I can live like no one else!
How to Spend Wisely?
- Get on a budget
- Evaluate where you spend for 3-6 mos
- then tell your $ where it should go
- Envelope System
- Use cash only!
Debt free living is God's plan for his people and how I act my wage
How to Plan Ahead
- Save now for things you need in the future
- Set up emergency fund...min $1000
- Debt Snowballing
- daveramsey.com
Pray Before you Pay
- Under $100=1 day
- $100-$1000=1 wk
- Over $1000=1 month
Isaiah 55:2
Why do you spend your money for that which is not bread, and your labour for that which does not satisfy?
Luke 14:28
“Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying This fellow began to build and was not able to finish.”
Proverbs 22:7
The rich rule over the poor and the borrower is servant to the lender.
- Average consumer debt $21,000
- 2014 household debt at all time high 163% of disposable income
Big Idea:
Debt free living is God's plan for His people and how I act my wage
General Principles about Debt
- It's not always a sin to borrow
- It's unwise to borrow
- It's not a sin to loan money
- It's a sin not to repay debts
- It's foolish to be a co-signer
- Debt presumes the future