“Your Financial Life Plan”
Pastor Kyle Strong, February 16, 2020
Texts: Proverbs & Various
LIFE PLAN…Review (“None of us plan to fail at life, but few of us plan to succeed.”)
Step #1…ASSESS where you are in all categories of life.
Step #2…PRIORITIZE what needs the most attention in each category.
Step #3…Write your ENVISIONED FUTURE in the present tense.
Step #4…Make an Action Plan for growth using SPECIFIC COMMITMENTS.
Two Types of People: Those who see the world like a Matrix (you get numbers) & those who see the world through a Kaleidoscope (you see beauty & shapes & colors, but takes more work to see numbers).
Two Words of Encouragement (Whether you’re a “numbers/money” person or not):
Be humble… there’s always more to learn in the ways of money.
Be hopeful… you can apply God’s principles and make progress.
Money is a Big Deal to Jesus:
Money/Possessions are mentioned 2x as much as faith & prayer combined.
Money makes a wonderful servant, but a terrible master.
How can you pursue financial freedom?
4 Biblical Principles for Your Pursuit of Financial Freedom:
The Principle of Honest Work
Focus on how you make money not just how much you make.
Prov. 21:6 - “A fortune made by a lying tongue is a fleeting vapor and a deadly snare.”
The Principle of Wise Stewardship
Focus on how you handle money, not just how much you have to handle.
Begins the moment you receive it.
Prov. 21:20 - “The wise store up choice food and olive oil, but fools gulp theirs down.”
The Principle of Gratitude
Focus on God as the giver of money, not just you as the earner of it.
James 1:17 - “Every good and perfect gift is from above, coming down from the Father of the heavenly lights, who does not change like shifting shadows.”
The Principle of Worship
Focus your worship on Jesus not money.
Matt. 6:24 - “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.”
4 Essential Habits in Pursuing Financial Freedom:
Budget, Budget, Budget
Only 1/3 of Americans budget.
Not having a budget will catch up with you; If you don’t have a budget, you’ll spend every $ dollar.
A budget helps us say “no” in a godly way.
Never budget to spend more than you make…EVER.
Give, Save, Spend
Live generously
Prov. 11:24-25 - “One person gives freely, yet gains even more; another withholds unduly, but comes to poverty. A generous person will prosper; whoever refreshes others will be refreshed.”
Save for your future
Prov. 21:5 - “The plans of the diligent lead to profit as surely as haste leads to poverty.”
Short-term: 3x-6x your avg. monthly expenses
Long-term: 15% of your annual income
Protect your future
Life Insurance: (Recommend) Term life at 10x your annual income
Long-term Disability: 60% income replacement
Last Will & Testament: Get one! (Have a lawyer review it.)
Control your spending
Use tech to manage your budget (Recommended Tools: mint.com; YNAB app; Quicken)
Review your budget weekly
Check before making a purchase - (Married couples: Build agreements!)
Avoid Consumer Debt
Golden Rule: Only borrow against appreciating assets like real-estate.
Get Help From Wise People
Prov. 15:22 - “Plans fail for lack of counsel, but with many advisers they succeed.”
Grow in Gratitude
2 Cor. 8:9 - “For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sake he became poor, so that you through his poverty might become rich.”
Gratitude gives you a holy perspective.
There are 10,000 minutes in a week.
Give 30min a week to review your budget.
Give an additional 15min to give thanks for EVERYTHING the Lord has provided.
Discussion Questions:
Getting to Know Me
Do you tend to shy away from your finances? Why or why not?
Why is money a spiritual issue before a financial issue?
Do you keep a budget? Why or why not? If you have a budget, do you review it weekly or monthly? How?
Into the Bible
What are some key Bible verses that you go to for financial advice? Why?
Read Matthew 6:19-21. How would you state the “big idea” of this passage? How should this change the way you see and deal with money?
Look at Hebrews 13:5-6. How does this relate to the 4 Biblical Principles from the sermon?
Pastor Kyle explained that money is not bad in itself, but the love of money is the root of many evils. Read 1 Timothy 6:3-10. What can happen in other areas of your life, specifically with your relationship with God and people, when you love money more than anything else?
Application
What was your main takeaway from Pastor Kyle’s sermon? How were you impacted/encouraged? Did you have an “ah-ha” moment or realize something for the first time?
How do financial issues affect other areas of your life? What is one thing from the sermon that can help you with these issues? Why?
Pastor Kyle referenced Matthew 6:24. If you answered honestly, who do you serve, God or money? Is God or money on your mind the most? Which one directs your actions?
Pastor Kyle gave 4 Biblical Principles: Honest Work, Wise Stewardship, Gratitude, and Worship. Which one do you need to grow in the most right now and how can you grow in that principle this year?
Pastor Kyle provided 4 Essential Habits: Budget, Avoid Consumer Debt, Get Help from Wise People, and Grow in Gratitude. Which of these do you need to focus on the most this year? Why?
How can growing in and practicing gratitude change the way you see and deal with money?
Use the LIFE PLAN tool to work on your envisioned future and action plan for your Financial life.