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Honoring God with

the Other90%

BFC Young Adults Retreat

June 5, 2010

Timothy SchmoyerPastorTim@WhitehallBFC.org

facebook.com/timothyschmoyer

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Introductions

What do you hope to take away from this session?

What is money? Who invented money?

Who knows best how to use this tool called money? The possessor or the designer?

Job 9:4

Proverbs 9:10

Proverbs 3:5-10

The Bible speaks of how to handle money 2,350 times.

TRUTH #1 - God Owns Everything

Psalm 24:1

Psalm 50:8-12

Revelation 11:15-17

Luke 16:12

Test your heart where does God fit in to your worldview when it comes to moneyand possessions?

If you need to grow in this area, in what way can you prove to yourself that yougenuinely believe this truth?

Heres a test for all of us. What percentage of your income goes to support theMission of God in this world?

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Truth #2 - Rich People have Disciplined Themselves to Save

Have you ever heard you shouldnt save because the interest you will earn is lowerthan the inflation rate ? Do you know who says that?

Proverbs 21:20The wise man saves for the future,but the foolish man spends whatever he gets." (Living Bible)

Proverbs 21:5"Steady plodding brings prosperity." (Living Bible)

What reasons do you currently have for not saving ?

What saving plans are you going to start doing this week?

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Saver 1Age Contribution Year-End Value Contribution Year-End Value

21 1,000 1,100 0 022 1,000 2,310 0 023 1,000 3,641 0 024 1,000 5,105 0 025 1,000 6,716 0 026 1,000 8,487 0 027 1,000 10,436 0 028 1,000 12,579 0 029 0 13,837 1,000 1,10030 0 15,221 1,000 2,31031 0 16,743 1,000 3,64132 0 18,417 1,000 5,10533 0 20,259 1,000 6,716

34 0 22,284 1,000 8,48735 0 24,513 1,000 10,43636 0 26,964 1,000 12,57937 0 29,661 1,000 14,93738 0 32,627 1,000 17,53139 0 35,889 1,000 20,38440 0 39,478 1,000 23,52341 0 43,426 1,000 26,97542 0 47,769 1,000 30,77243 0 52,546 1,000 34,95044 0 57,800 1,000 39,57545 0 63,580 1,000 44,59946 0 69,938 1,000 50,15947 0 76,932 1,000 56,27548 0 84,625 1,000 63,00349 0 93,088 1,000 70,40350 0 103,397 1,000 78,54351 0 112,636 1,000 87,49752 0 123,898 1,000 97,34753 0 136,290 1,000 108,18254 0 149,919 1,000 120,10055 0 164,911 1,000 133,21056 0 181,402 1,000 147,63157 0 199,542 1,000 163,46458 0 219,496 1,000 180,94359 0 241,446 1,000 200,13860 0 265,590 1,000 221,25261 0 292,149 1,000 244,47762 0 321,364 1,000 270,02463 0 353,501 1,000 298,12764 0 388,851 1,000 329,03965 0 427,736 1,000 363,043

8,000 37,000

Saver 2

from Your Money Map by Howard Dayton. 2006. p. 163

Compounding Interest

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Truth #3 - You Can Use Debt, but Dont Let It Use You

How much debt are you carrying right now?

As an example, lets say you had $5,200 of debt on a credit card and you mde a $100payment every month for six months. See the chart below.

Proverbs 22:7

Romans 13:8

The Debt Snowball Strategy

1. Take inventory of the balances and interest charge rates of all credit card.

2. Stop using the credit cards and pay cash or debit card for purchases.

3. Make the minimum payment on all cards

4. Pay as much above-and-beyond minimum as you can on the card with the lowestbalance and highest interest rate.

Month Payment Interest Principal End Balance

January 100 60.67 39.33 5160.67

February 100 60.21 39.79 5120.88

March 100 59.74 40.26 5080.62

April 100 59.27 40.73 5039.89

May 100 58.80 41.20 4998.69

June 100 58.32 41.68 4957.01

Total 600 357.01 242.99

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Truth #4 - Planning is Half the Battle

Proverbs 20:5

A QuotableIts better to tell your money where to go instead of wondering where it all went.

Where is your money going now? Write down every purchase during this month.

Write our a plan of where you want your money to go next month.See the next two pages

Do you believe your financial picture will improve or get worse if you live by aspending plan? ________

How do you think you life will change by living with a plan?

For better For Worse

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Total IncomeSalary _____________Interest _____________Dividends _____________Other income _____________Less

Giving _____________Taxes _____________

Spendable Income ___________

Living Expenses1. HousingMortgage or Rent _____________

Home Insurance _____________Property Taxes _____________Electricity _____________TV _____________Gas _____________Water _____________Trash _____________Telephone _____________Maintenance _____________Internet _____________Other _____________

Housing Total ___________

2. Food ___________

3. TransportationPayments _____________Gas & Oil _____________Car Insurance _____________Licenses/Taxes _____________Maintenance _____________Auto Replacement _____________

Other _____________Transport. Total ___________

4. InsuranceLife _____________Health/Dental _____________Disability _____________Other _____________

Insurance Total ___________

5. Debts (excluding auto & house)Total Payments ___________

6. Entertainment/RecreationEating Out _____________Babysitters _____________Activities/Trips _____________Vacation _____________Pets _____________

Entertain. Total ___________

7. Clothing ___________

8. Savings ___________

9. MedicalDoctor _____________Dentist _____________Prescriptions _____________Other _____________

Total Medical ___________

10. MiscellaneousToiletries/Cosmetics _____________Beauty/Barber _____________

Laundry/Cleaning _____________Allowances _____________Subscriptions _____________Gifts _____________Other _____________

Misc. Total ___________

11. School/Child CareTuition _____________Materials _____________Transportation _____________

Day Care _____________School Total ___________

12. Savings/Investments ____________

How the Month Turns OutSpendable Income _____________Minus Living Expenses _____________Monthly Surplus/Deficit _____________

My Spending Plan

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Further Resources

Books

Your Money Map. Howard Dayton.

Debt-Free Living. Larry Burkett.

Marriage and Money Gods Way. Howard Dayton.

The Total Money Makeover. Dave Ramsey.

Financial Peace Revisited. Dave Ramsey.

Websites

Crown.org - Crown Financial Ministries

DaveRamsey.com - Radio Host, Dave Ramsey

INGDirect.com - Online Bank for Savings, CDs, IRAs, other Financial Services