7 Steps to Financial Freedom

7 Steps To Financial Freedom

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Q1.When should you start managing your finance and why?
The sooner you start managing your finance, the better! Don’t wait until you reach a certain age or start a family, the best time to start was yesterday and the next best time to start is today.

If you are earning an income, God trusts you to take care of what He has blessed you with. When it comes to finances, the sooner the better, start to save or invest now and let it have time to grow.

Q2.What are some of the benefits of managing your finance?
God promises us that when we do well with what He gives us, He can trust us with more. As you plan out your finances, you can be sure to have more peace and sleep better. Exciting thing to remember is that as you pay off debt and start saving or investing, you will be able to build more wealth and be a great blessing to others!

7 Steps To Financial Freedom
Based on the “Total Money Makeover” by Dave Ramsay.

“Live like no-one else now, so that later you can live, and give, like no-one else.” -Dave Ramsey

(1 Corinthians 4:2 NIV) Now it is required that those who have been given a trust must prove faithful.

(Matthew 25:23 NIV) His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

STEP 1. Get A Plan For Your Money – Budget Each Month
“A budget is telling your money where to go, not wondering where it went!” -John Maxwell

“If you aim at nothing you will hit it every time” -Zig Ziglar

(Proverbs 21:5 NIV) The plans of the diligent lead to profit as surely as haste leads to poverty.

(Luke 14:28 NIV) Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?

STEP 2. Save a Beginner Emergency Fund
(Proverbs 21:20 NIV) The wise store up choice food and olive oil, but fools gulp theirs down.

STEP 3. Get Out of Debt – The Borrower Is Slave To The Lender
(Proverbs 22:7 NIV) The rich rule over the poor, and the borrower is slave to the lender.

(Proverbs 6:1-5 NIV) My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, (2) you have been trapped by what you said, ensnared by the words of your mouth. (3) So do this, my son, to free yourself, since you have fallen into your neighbor’s hands: Go—to the point of exhaustion—and give your neighbor no rest! (4) Allow no sleep to your eyes, no slumber to your eyelids. (5) Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.

STEP 4. Save A Full 3-6 Month Emergency Fund
(Proverbs 6:6-8 NIV) Go to the ant, you sluggard; consider its ways and be wise! (7) It has no commander, no overseer or ruler, (8) yet it stores its provisions in summer and gathers its food at harvest.

STEP 5. Invest For The Future
(Matthew 25:19-21 NIV) “After a long time the master of those servants returned and settled accounts with them. (20) The man who had received five bags of gold brought the other five. ‘Master,’ he said, ‘you entrusted me with five bags of gold. See, I have gained five more.’ (21) “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

STEP 6. Steward God’s Blessing
(Deuteronomy 8:11-14 NIV) Be careful that you do not forget the Lord your God, failing to observe his commands, his laws and his decrees that I am giving you this day. (12) Otherwise, when you eat and are satisfied, when you build fine houses and settle down, (13) and when your herds and flocks grow large and your silver and gold increase and all you have is multiplied, (14) then your heart will become proud and you will forget the Lord your God, who brought you out of Egypt, out of the land of slavery.

(Proverbs 24:27 NIV) Put your outdoor work in order and get your fields ready; after that, build your house.

STEP 7. Build Wealth, Be Incredibly Generous and Leave A Legacy
(2 Corinthians 9:7 NIV) Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.

(Proverbs 13:22 NASB) A good man leaves an inheritance to his children’s children.

DELEGATION: RELEASING THE NEXT GENERATION

Blog, Ps Rod Plummer

(2 Timothy 2:2 NLT)
“You have heard me teach things that have been confirmed by many reliable witnesses. Now teach these truths to other trustworthy people who will be able to pass them on to others.”

Multiplying Leaders
The most effective way to multiply leaders is to identify reliable people and bring them closer to you to: engage, train, and encourage them, and give them feedback and opportunity. We call these steps the process of delegation.

This doesn’t mean you have to have people in your home all the time or be available for drawn out meetings. It simply implies working together and connecting on relevant projects and in the process slowly transferring your experience, expertise – and more importantly – your heart.

How do you give people enough of you?
You give people enough of you through:
・Modeling
・Training
・Giving Tools
・Having Requirements and Expectations (setting up a frame work)
・Practical Experience (letting people try things)
・Debriefing (giving feedback)
・Handing Things On (the final step of delegation)

John Maxwell
Here are some thoughts on delegation by John Maxwell, a renowned motivational speaker to the business world. He says:

-If someone else can do a task at least 80% as well as I can, I give it to them.

-“How can I get someone of that caliber on my team?” My answer is always the same – find someone with the ability and willingness to learn, and then invest a lot of time in their lives.

-With everyone who works closely with me, my goal is to teach them to think like I do. So at the beginning, I pour a lot of myself into them. I don’t just make decisions and ask them to implement them. I share my thought processes and encourage them to tell me what they think I would do. Because of our time spent in development, I can now trust each one to make decisions and communicate the same way I would.

-Give away everything you can. It may seem to you that I give away some pretty important tasks. You’re right, I do. And that makes me unusual.

Takeaways from John Maxwell are:
1.Am I forgetting to first develop others before handing off responsibilities to them?

2.What am I holding onto that’s stealing time from my priorities?
A good way to identify your priorities is to make a list of those tasks only you can do and then plan to delegate the rest.

3.How can I teach people to think like I do?
Here are a few ways you can achieve this:
a) Describe the mission
b) Explain the “what”
c) Explain the “why”

4.The process of team building is important and it should include things like:
・Debriefing
・Bringing people into the decision making process.
・Asking people, “What do you think I would do in this situation?”

5.Give away everything you can – including your important tasks – even if the person is only 80% capable.
Aim to only hold onto your priorities!

6.Check for blockages
People are wonderful, but sometimes they can get stuck. Technology is wonderful, but it can become outdated quickly. It’s important that we make the necessary changes with sensitivity and style.

7.Recognition:
We all want to be acknowledged and affirmed. “Well done! That was great.” goes a long way. It helps us feel appreciated and confirms we are on the right track!

I hope this topic will help you go to another level at work, school, or in ministry. I know these lessons have been transformational for my ministry, and I have every confidence that delegation done well will transform your lives.