MASTERING YOUR MONEY 4

Old School Automated Notes

Luke 16:1-13

He also said to His disciples: “There was a certain rich man who had a steward, and an accusation was brought to him that this man was wasting his goods. ² So he called him and said to him, ‘What is this I hear about you? Give an account of your stewardship, for you can no longer be steward.’ ³ “Then the steward said within himself, ‘What shall I do? For my master is taking the stewardship away from me. I cannot dig; I am ashamed to beg. ⁴ I have resolved what to do, that when I am put out of the stewardship, they may receive me into their houses.’ ⁵ “So he called every one of his master’s debtors to him, and said to the first, ‘How much do you owe my master?’ ⁶ And he said, ‘A hundred measures of oil.’ So he said to him, ‘Take your bill, and sit down quickly and write fifty.’ ⁷ Then he said to another, ‘And how much do you owe?’ So he said, ‘A hundred measures of wheat.’ And he said to him, ‘Take your bill, and write eighty.’ ⁸ So the master commended the unjust steward because he had dealt shrewdly. For the sons of this world are more shrewd in their generation than the sons of light. ⁹ “And I say to you, make friends for yourselves by unrighteous mammon, that when you fail, they may receive you into an everlasting home. ¹⁰ He who is faithful in what is least is faithful also in much; and he who is unjust in what is least is unjust also in much. ¹¹ Therefore if you have not been faithful in the unrighteous mammon, who will commit to your trust the true riches? ¹² And if you have not been faithful in what is another man’s, who will give you what is your own? ¹³ “No servant can serve two masters; for either he will hate the one and love the other, or else he will be loyal to the one and despise the other. You cannot serve God and mammon.”

 

STEWARDSHIP Responsibility to manage all the resources of life for the glory of God, acknowledging God as provider.

 

Stewardship Means

1.   Everything Belongs to God.

 

Psalm 24:1

¹ The earth is the Lord’s, and all its fullness, The world and those who dwell therein.

 

Psalm 50:10-12

¹⁰ For every beast of the forest is Mine, And the cattle on a thousand hills. ¹¹ I know all the birds of the mountains, And the wild beasts of the field are Mine. ¹² “If I were hungry, I would not tell you; For the world is Mine, and all its fullness.

 

2.   He Let’s us Manage His Resources.

3.   We Must be Wise with Our Resources.

4.   We must not be Wasteful.

5.   We Must be Faithful.

 

Tell Bush Story

Jim and Sue

·       Jim asked to meet David a 23 year old financial planner

·       Jim early 50’s was planning to retire next month

·       David Bach Judged Jim wrong

·       Worked for same company 30 years

·       Never made over $40,000 per year

·       Not good with budgets

·       Joint income that year $53,946.00

·       No Debt

·       Paid for house $450,000

·       Paid for rental House $325,000

·       401K $610,000

·       Wife 2 Retirement Plans ($72,000

·       Wife Municipal Bonds $160,000

·       $62,500 Cash in Savings

·       2 Million in Assets

·       $26,000 year in Rental Income plus Pension

 

1.   They Got Good Advice.

2.   They Decided to Pay Themselves before paying their Bills.

3.   They Became Honest and realized they lacked discipline.

4.   They Automated savings.

5.   They began to save enough to buy a home.

6.   They Paid Home off early.

7.   They paid for all consumer items cash.

8.   They never bought new vehicles.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I.           THE CURRENT FINANCIAL STATE OF MOST AMERICANS

American Family Financial Statistics	Data
Average American family savings account balance	$3,800
Percent of working Americans who are not saving for retirement	40 %
Percent of American families who have no savings at all	25 %
Average amount saved for retirement	$35,000
Average American household debt	$117,951
Average American family home value	$160,000
Average amount owed on home mortgage	$95,000
Average American household annual income	$43,000
Average credit card debt	$2,200
Percent of American workers who postponed their retirement age this year	24 %
Percent surveyed who are very confident about having enough money for retirement	18 %
Percent of American adults who do not have a bank account	7.7 %
Percent of American adults who have an emergency fund to fall back on	38 %

http://www.statisticbrain.com/american-family-financial-statistics/

II.        PREMISE FOR THIS SERIES

 

1.   You can end up rich living on a modest salary.

2.   You can get rich as a regular employee.

3.   Budgeting is not the only key to wealth.

4.   Pennies matter and dollars really matter.

5.   You are the second most important person in the world.

6.   Where you live matters.

7.   You must Automate your wealth.

 

III.      THE FIRST STEP TO WEALTH BUILDING

 

1.   Get Control of Where Your Money Goes

o   Remember money has a current and future value

o   What you spend today will not be invested for tomorrow

Example 1 Ages:  _____________

Dollar Amount of Unnecessary Expense ______________

Per Day(s)                                                   ______________

Annual Return on interest if invested       ______________

Number of Years                                        ______________

Total Dollars Spent                                     ______________

Interest Forfeited                                        ______________

Real Cost of Expense                                ______________

 

Example 2 Ages: ______________

Dollar Amount of Unnecessary Expense ______________

Per Day(s)                                                   ______________

Annual Return on interest if invested       ______________

Number of Years                                        ______________

Total Dollars Spent                                     ______________

Interest Forfeited                                        ______________

Real Cost of Expense                                ______________

 

Example 3 Ages: ______________

Dollar Amount of Unnecessary Expense ______________

Per Day(s)                                                   ______________

Annual Return on interest if invested       ______________

Number of Years                                        ______________

Total Dollars Spent                                     ______________

Interest Forfeited                                        ______________

Real Cost of Expense                                ______________

 

Example 4 Ages: ____________

Dollar Amount of Unnecessary Expense ______________

Per Day(s)                                                   ______________

Annual Return on interest if invested       ______________

Number of Years                                        ______________

Total Dollars Spent                                     ______________

Interest Forfeited                                        ______________

Real Cost of Expense                                ______________

 

Example 5 Ages: ____________

Dollar Amount of Unnecessary Expense ______________

Per Day(s)                                                   ______________

Annual Return on interest if invested       ______________

Number of Years                                        ______________

Total Dollars Spent                                     ______________

Interest Forfeited                                        ______________

Real Cost of Expense                                ______________

 

IV.     TIME TO TRACK

 

1.   Write down every penny you spend for the next week.

2.   At end of week analyze where money is going.

3.   Determine How much it will cost you at Retirement Age.