Christian Personal Financial Management - Teaching One



This material on Christian personal financial management grows out of both the request for teaching on this topic and the Pastor’s passion for Christians being economically empowered. What follows are the Pastor’s summary highlights from
Financial Peace Revisited (Revisited) by Dave Ramsey with thoughts by Sharon Ramsey (NY: Viking, 2003) as well as discussion questions.

As you study the material, each student is urged to develop his/her personal economic empowerment goals and plans as well as be open to developing an accountability partnership with a fellow student. There will be a quiz at the end to insure students have grasped some of the basic concepts being discussed.

 

Summary Highlights -

1. There are all kinds of statistics that show too many Americans are in financial trouble. One study says that 70% of the American public lives from paycheck to paycheck. The foreclosure rate increased by 200% from 1980 to 2003, with 600,000 homes lost in 2011 alone. In 1980, there were just a little more than 500,000 bankruptcies filed. But in 2002, there were 1,500,000.

 

2. After about five years of marriage, the average marriage feels the pinch of economics. There is a need for financial literacy and discipline. Money is active and amoral. Take control of it, so it doesn’t control you. I Timothy 6:10 teaches against the love of money, not money itself.

 

3. Our behavior shows who we really are. Guard against “stuffitis” - requiring not just stuff but the best stuff. Guard against obsessing over financial freedom. No matter how much you get, because it is active, you still have to manage it. Work on discipline (i.e., good habits) and giving (i.e., Christians should give at least a tithe to their church).

 

4. Billions of dollars are spent to get money out of your pocket. There is a rush that comes from spending $300 or more.

 

5. In regard to career choice, Victor Frankl said, “life is never made unbearable by circumstances, but only by lack of meaning and purpose.” Thomas Edison said, “the secret of success is focus on purpose.” Work on doing what you love - a vacation as a vocation. Take aptitude tests to find your occupation. Be careful about thinking that two paychecks is better. Sometimes the expenses of getting the second check are greater than the check.  Work hard. Do your part and a little more.

 

6. Discipline yourself to live within your means. See Proverbs 21:20.

Christian Personal Financial Management Discussion Questions (use extra paper as needed):

1. Do you agree that too many Americans are in financial trouble? Explain.

 

 

 

2. Do you agree that the church can help with financial education and support to help individuals who need financial literacy and discipline? Explain.

 

 

3. _____________ of dollars are spent to get money _______ of your pocket.

 

4. What can a person do to move towards making a living doing what they love to do?

 

 

 

5. If it costs your household $12,000 (i.e., child care, transportation, cloths, food, etc.) to make $11,000 (i.e., take home), how much money does your household make? Explain.

 

 

 

 

 

 

6. Explain how I Timothy 6:10 and Proverbs 21:20 relate to the following statements: (1) money is the root of evil and (2) enjoy today because tomorrow may never come?

 

 

 

 

 

 

 

7. What else would you like to share (e.g., goals, accountability partnership, etc.)?

 

 

 

 

 

 

 

 

Conclusion: Let’s work on being better stewards of our finances and helping others do the same. God has much for those who obey His will regarding Christian personal financial management.

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