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31 Day Guide To Renewing Your Financial Mind
31 Day Guide To Renewing Your Financial Mind
31 Day Guide To Renewing Your Financial Mind
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DAY 1List what you would do. . .if you were DEBT FREE.
As you plan your future, it is important for you to consider a life-changing question. What would you do if you did not have any debt? Think carefully, then make a list of all the things you would do today if you did not owe a single cent to anyone. By completing this exercise, you are setting in motion several powerful Biblical principles. This is what I would do for God and my family if I were debt free: __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __ During this month, it is important for you to keep referring to this list. Its your dream. . .its your future. . . .without a vision the people perish. POWER SCRIPTURE As we have therefore opportunity, let us do good unto all men, Especially unto them who are of the household of faith. Galatians 6:10 RICH THOUGHT If you dont have a dream, how are you ever going to make a dream come true? Oscar Hammerstein II FUN QUOTE Dont be afraid to go out on a limb. Thats where the fruit grows. Proverbs 29:18
The gentleman pulled an old ledger out of a crumbled brown paper bag. As he opened the book, my Dad noticed the words Tuck In written on the upper corner of each left-left hand page. And the words, Tuck Out were written on the upper corner of each right-hand page. As my father tells the story, the old gentleman said, Brother Harold, I think my problem is that I have tuck out more than I have tuck in. Most of the people who live in financial bondage or the agony of a paycheck to paycheck existence got there because they tuck out more than they tuck in. Your first step to financial freedom is to find out where you are! Write down all your assets, listing everything you own. Place a fair market value on each item. Be realistic! List all your liabilities. Put down on paper everything you owe. . .including any notes to family members or other obligations that you are trying to forget. Then subtract your liabilities from your assets and you will have your net worth. Now divide your net worth by the number of years you have been working and you will discover how much you have been trading your life for each year. Dont get discouraged. To begin any great journey you must know where you are departing from. POWER SCRIPTURE "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.' Luke 14:28-30 NIV
RICH THOUGHT Whenever were afraid, its because we dont know enough. If we understood enough, we would never be afraid. Earl Nightingale FUN QUOTE Every morning I get up and look through the Forbes list of the richest people in America. If my name is not listed there then I go to work.
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List the creditor, account number, phone number, contact person, outstanding balance, minimum payment, interest rate, and if its a credit card, whether or not the creditor in question charges an annual fee. Caution: the enemy will seek to discourage your during this exercise. But remember, he is a liar; in fact, he is the father of lies. Dont worry about the figures. They are just numbers on a piece of paper. Now you have some specific subjects to discuss with your Heavenly Father. Today, you will take the first powerful step in organizing the enemy (debt) for a major attack. Creditor Monthly Payment Amount Overdue Monthly Amt. I Can Afford Interest Annual Rate Fee
________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ POWER SCRIPTURE We will reap a harvest of blessing if we dont get discouraged and give up. Galatians 6:9 TLB RICH THOUGHT I have never met a man who has given me as much trouble as myself. Dwight L. Moody FUN QUOTE When down in the mouth, remember Jonah. He came out all right. Thomas Edison
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$ 900 1,000 1,250 1,500 2,000 2,500 3,000 3,500 4,000 5,000 6,000 7,000 8,000
$ 90 100 125 150 200 250 300 350 400 500 600 700 800
$115 125 155 190 250 315 375 440 500 625 750 875 1,000
$135 150 190 225 300 375 450 525 600 750 900 1,050 1,200
$180 (plus) 200 250 300 400 500 600 700 800 1,000 1,200 1,400 1,600
If your rating is Excellent or Good, breathe easier. If your money is still funny then your problem is discretionary spending (eating out, movies, cash purchases). A Fair rating means your financial condition is okay as long as the weather is fair. If financial clouds appear on the horizon then you are in trouble. You will not be able to handle the washing machine breaking down, an unexpected illness or work slow down. If your rating is Poor then you probably have the late-notice blues or phone collector headaches. But fear not, its not a permanent condition. You are on the way out of your dilemma. POWER SCRIPTURE Remember, too, that knowing what is right to do and then not doing it is sin. James 4:17, TLB RICH THOUGHT What is the difference between an obstacle and an opportunity? Our attitude towards it. Every opportunity has a difficulty, and every difficulty has an opportunity. Anonymous FUN QUOTE Ive never been poor, but Ive been broke. In fact, Im been so broke that when I walked by the bank the burglar alarm goes off.
having more money withheld than is necessary. Some people like to get that tax refund each year. They feel like they are somehow pulling one over on the government. NOT TRUE. It's your money that they are giving back to you. If you are paying taxes each year on April 15th then you are having too little money withheld and you should decrease the number of allowances that you are now claiming. Heres what you should do: 1. Verify with your employer's payroll office the number of allowances you currently have listed on your W-4 form. Ask for a new form. 2. On the back of a W-4 form is a worksheet which you could use to determine the number of allowances that you should claim so that you will not be overpaying the government. 3. In completing the form, make sure you list all your itemized deductions from last year, any IRA's or other deductions. This will help you arrive at the proper number of allowances which you should claim. 4. Return the completed form to your payroll department and eagerly anticipate your next paycheck and the increased amount you will be taking home. 5. Use the increased take home pay to pay off existing bills and/or invest it into a savings program. POWER SCRIPTURE RICH THOUGHT A person is truly poor, not when he has nothing, but when he does nothing. Anonymous FUN QUOTE I have done an extensive survey. . .spared no expense. . .polled every possible demographic profile and I have only found two groups of people that do not like to pay taxes. . .men and women.
POWER SCRIPTURE The wise man saves for the future, but the foolish man spends whatever he gets. Proverbs 21:20 TLB RICH THOUGHT Make all you can, save all you can, give all you can. John Wesley FUN QUOTE If money talks what it says mostly is. . .good-bye.
be necessary in your case. The mention of bankruptcy makes cantankerous creditors much more agreeable. Continue your calls until you have spoken with all your creditors. POWER SCRIPTURE In everything you do, stay away from complaining and arguing, so that no one can speak a word of blame against you. Philippians 2:14-15 RICH THOUGHT Even a mistake may turn out to be the one thing necessary to a worthwhile achievement. Henry Ford FUN QUOTE Sign on the front window of a finance company, Now you can borrow enough money to be debt free.
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4. Each month be sure to reconcile your bank statement. Make sure all deposits are properly recorded. When you go through your statement, place a small star or "x" by all the checks that qualify for a tax-deductible purchase. Most checkbooks provide such a space and you will be ever so glad you did when tax time rolls around. There is a tremendous competition among banks today. Survey a number of banks and then decide the best one for you. Bank Name _________ Bank Name __________ Bank Name _________ Bank Name _________
Minimum Balance For No Service Charge _________ __________ _________ _________ Amount of Service Charge _________ __________ _________ _________ Cost Per Check _________ __________ _________ _________ Stop Payment Charge _________ __________ _________ _________ Bounced Check Charge _________ __________ _________ _________ ATM Charge At Your Bank_________ __________ _________ _________ ATM Charge From Other Banks _________ __________ _________ _________ Review the statistics and you decide where you want to bank. After all, its your money! POWER SCRIPTURE His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. Matthew 25:21 RICH THOUGHT Do or do not. There is no try. Yoda FUN QUOTE If money doesnt grow on trees, then why do banks have branches?
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Control your ATM card or cut it up. If you are in a cash and budget squeeze then the use of an ATM can be hazardous to your financial health. When you are trying to come out of debt it is best to always limit your access to easy cash.
POWER SCRIPTURE Dishonest money dwindles away, but he who gathers money little by little makes it grow. Proverbs 13:11 RICH THOUGHT We are all given two endsone for thinking, one for sitting. Heads you win; tails you lose. FUN QUOTE Criminal: You made a mistake, and Im not going to pay for it. Sgt. Joe Friday: You going to use a credit card. Dragnet Television Show
NEW CURRENT CARD CARD Question 1: What is the interest rate? How long is the rate guaranteed? ____ ____ ____ ____
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Question 2: What is the annual fee? Question 3: Is there a grace period? If so, how long? Question 4: Is there a fee for late payment? If so, how much? Question 5: Is there a fee for exceeding your credit limit? If so, how much? Question 6: Is there a fee for transferring existing credit card balances? If so, how much?
One other note of caution. Make a list of the cards you now have - even the ones you have stopped using. If you have not cut them in half and mailed them back to the issuer with a signed letter asking that your account be closed, you may still be paying an ANNUAL FEE and it will be billed directly to the card, and you will receive an INVOICE for that amount. If it is added in with the current outstanding balance for that card, you are now PAYING INTEREST on your annual card fee. How's that for upping the cost of the LOW annual fee? POWER SCRIPTURE A wise man thinks ahead; a fool doesnt, and even brags about it. Proverbs 13:16 TLB RICH THOUGHT A problem is a chance for you to do your best. Duke Ellington FUN QUOTE A friend said he lost his credit cards six months ago. I asked if he had reported them stolen. He said, no, the thief is spending less than we were so we just let him keep them.
If you need cash or cash growth, you need an investment. handled as investments.
Investments should be
Call Crown Financial Services toll-free at 1-800-795-8237 or Insurance Services at 1866-400-0780. Let the receptionist know that youre calling as a result of the Debt Free Army. POWER SCRIPTURE The rains came down, the streams rose, and the winds blew and beat against the house; yet it did not fall, because it had its foundation on the rock. Matthew 7:25 RICH THOUGHT What you tolerate, is what you live with. John Avanzini FUN QUOTE Early to bed, early to rise, until you make enough money to do otherwise.
Beloved, I pray that you may prosper in all things and be in health, just as your soul prospers. 3 John 2 NKJV RICH THOUGHT Do what you can, with what you have, with where you are. Theodore Roosevelt FUN QUOTE I have enough money to last me the rest of my life, unless I buy something.
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The Lord my God teaches me to profit, and leads me in the way that I should go. Isaiah 48:17 RICH THOUGHT Ninety-nine percent of failures come from people who have a habit of making excuses. George Washington Carver FUN QUOTE Thinking of new ideas is like shaving: if you dont do it every day, youre a bum. John Mason
Buying a new home is very exciting. But dont let the excitement of the moment place you in a lifetime of bondage. One final word of caution: Dont let an enthusiastic sales person or real estate agent tell you how much house you can afford. POWER SCRIPTURE Noah believed him even though there was then no sign of a flood, and wasting no time, he built the ark and saved his family. . . Hebrews 11:7 TLB RICH THOUGHT Plans get you into things, but youve got to work your way out. Will Rogers FUN QUOTE Money in the bank is like toothpaste in the tube. Easy to take out, hard to put back. Earl Wilson
I know God will not give me anything I cant handle. I just wish that He didnt trust me so much. Mother Teresa FUN QUOTE I dont want the cheese, I just want to get out of the trap. Spanish Proverb
POWER SCRIPTURE I am not slothful, but I am a follower of those who though faith and patience inherit the promises. Hebrews 6:12 RICH THOUGHT Dont wait to be motivated. Take the bull by the horns until you have him screaming for mercy. Michael Cadena FUN QUOTE A lot of people are willing to give God the credit, but not too many are willing to give him the cash. Anonymous
Getting close to paying off that auto loan? It's amazing how a $300 payment that comes free can be absorbed and spent in the monthly budget almost without notice. There is a better way. When the car is paid off, take that extra payment and begin putting it in a savings account toward the next car. POWER SCRIPTURE They imported a chariot from Egypt for six hundred shekels of silver. 2 Chronicles 1:17 RICH THOUGHT You said, `but. Ive put my finger on the whole trouble. Youre a `but man. Dont say, `but. That little word `but is the difference between success and failure. Henry Ford once said, `Im going to invent the automobile, and Arthur T. Flanken said, `but. . . Sgt. Ernie Bilko The Phil Silvers Show FUN QUOTE Banks have drive-through windows so that the real people who own your car. . .get to look at it three or four times a month.
check a box on the application and the "very-low-valuable-protection-service-fee" will simply be added to your credit card statement each year. This is probably one of the most misused schemes in the country. By now you know (because you have read each of your credit-card agreements), that if your card(s) are stolen, all you have to do is call the card company's toll-free number and you are only liable for $50 of any charges placed on your card. Calling when you first notice your card missing will most often cancel ANY charge. POWER SCRIPTURE Give instruction to a wise man, and he will be yet wiser: teach a just man, and he will increase in learning. Proverbs 9:9 RICH THOUGHT I do the very best I know howthe very best I can; and I mean to keep on doing so until the end. Abraham Lincoln FUN QUOTE If you want to get back on your feet. . .just miss two car payments. Anonymous
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FUN QUOTE If you would like to buy an $18,000 car its easybuy a $6,000 car on monthly payments.
If you think you wont be missed, move away leaving a few unpaid bills.
Generally, the first investment most people should make is an IRA. Each employed person may contribute up to $2,000 per year in their account. Many banks, insurance companies, and mutual funds will open an IRA for only $50 per month. The tax benefits make this a most attractive investment vehicle. POWER SCRIPTURE Lazy hands make a man poor; but diligent hands bring wealth. Pro 10:4 RICH THOUGHT When you discover your mission, you will feel its demand. It will fill you with enthusiasm and a burning desire to get to work on it. W. Clement Stone FUN QUOTE Eagles fly alone, crows fly in-groups. Anonymous
Most of us are so caught up in the intensity of our "todays" we don't take much time to plan ahead. That is exactly what has happened to most Americans who statistically have an average of $2000 saved at age 65. That is too late to think about retirement. www.debtfreearmy.org
Give some thought today as to what you would really like to put aside for building your "future." Write down the programs that are already working on your behalf. POWER SCRIPTURE "For I know the plans I have for you...to give you a future and a hope." Jeremiah 20:11 RICH THOUGHT There would be no advantage to be gained by sowing a field of wheat if the harvest did not return more than was sown. Napoleon Hill FUN QUOTE Saving is a very fine thing. Especially when your parents have done it for you. Sir Winston Churchill
done it - gone through the whole day without using a credit card or writing a check. Complete the entire day without using a credit card and without writing a check. "But I make all my purchases by check - isn't that really like cash?" Yes and No. If you have ever played the float (written a check when the money wasn't actually in the bank that day, but your deposit will beat the check to the bank), then you have placed the first bricks in a foundation of false security. When you "play-the-float" you are doing neither. Writing a check to a vendor for goods or services when you know there is NO MONEY in the bank at the time you write the check is NOT A GAME. You are taking a RISK. Believer, stop kidding yourself! The scripture is very plain about such things - GIVE NO PLACE! POWER SCRIPTURE As a man thinketh in his heart, so is he. RICH THOUGHT There were times my pants were so thin that I could sit on a dime and tell if it were heads or tails. Spencer Tracy FUN QUOTE Dont worry about keeping up with the Joneses. They just declared Chapter 13 bankruptcy. Proverbs 23:7
"Then those who feared the Lord talked together, and the Lord paid heed and listened. A record was written before him of those who feared him and kept his name in mind." Malachi 3:16 (NEB) There are times when we must strengthen ourselves in the Lord as David did of old (read I Samuel 30:1-6). We need to record our victories so that at any time we are able to say, "Look what the Lord has done!" This is a page that the family can celebrate over each time a bill is paid off or at certain intervals to gain encouragement from the progress you are making. It is great to have a little praise and worship time before God when he has brought forth a deliverance in your midst. For the last thirty days you have concentrated on your commitment to become debtfree. You have spent time thinking about it, gathering information to plan it and deciding how exciting the alternatives are going to be. Statistics show us that if we do anything for at least www.debtfreearmy.org
20 days in a row, it will become a habit. In this way we can actually create a new habit in place of an old one. IT IS TIME FOR THE BATTLE PLAN TO UNFOLD. POWER SCRIPTURE Quit praying and get the people moving! Forward march! God speaking to Joshua in Exodus 14:15 (TLB) RICH THOUGHT Money is not bad. There is not anybody I know who really thinks its bad. If they do, why dont they give their paycheck back. Dr. Charles Stanley FUN QUOTE Even if youre on the right track, youll get run over if you just sit there. Will Rogers
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