The Journey to Financial Freedom
Here's how the Journey works:
Although the destinations progress in order, steps 1 through 8, you may find that you've already completed parts of several destinations.
Review every destination and check what you've already accomplished. Then, start with the first destination you've not finished. For example, if you haven't saved $1,000.00 for emergencies, you'll start at destination 1.
You'll discover that the Journey will work best when you keep it in a visable place as a daily reminder.
Are we there yet?
There may be seasons when you wonder if you will ever make it to the next destination, much less the final destination. The faith declaration below is like the water needed to hydrate a weary hiker. It will equip you with functional principles and encouraging scriptures to keep you going. During especially challengingseasons, you may decide to declare these truths aloud each morning as a reminder of God's sovereighnty, faithfulness, and love for you.
God owns it all - Psalm 24:1
God's way is always better than my way, so I give Him control - 1 Choronicles 29:11
I am content with what Gos has provided - Philppians 4:11-19
I am God's wise manager - Matthew 25:21
I am free to fulfill God's plans for my life and advance His kingdom
CELEBRATE:
Don't forget to celebrate when you complete a destination, You've made progress! At every step of the way you'll enjoy greater financial freedom. Take time to thank the Lord for His help.
Start thinking now about how you will celebrate when you complete each destination and record your plans.
How I celebrate completing the destinations.
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7 Setps to Financial Freedom.
Get Well 1. Build Emergency Savings: * Track Spending & create your spending plan * Save $1,000.00 for emergencies * Start giving regularly 2. Pay off Credit Card Debt: * Pay off credit cards (using snowball processs) * Increase savings toone month's living expenses * Increase giving through time, talent, money * Look for creative ways to increase your income 3. Pay off other consumer debt: * Pay off consumer debt (auto, furniture, student loans, etc) * Increase savings to 3 months living expenses * Increase giving
Do Well
4. Adjust Your Spending Plan:
*Adjust sspending accordingly
* Start saving for major purhases
* Start saving for retirement
* Inrrease savings to 6 months living expenses
* Retake your MLI assessment and revisir your goals
5. Save for Future:
* Continue saving for major purchases and retirement
* Continue saving up to 12 months living expenses
* Create education / college fund for each child
* Increase giving
6. Investment:
* Buy an affordable home
* Begin repaying home mortgage
* Diversify Investments
* Increase giving
Finish Well
7. Leave a Legacy
* Evaluate your kingdom impavct for the next generation
* Pay off home mortgage
* Finalize childrens education fund
* Confirm Estate plan is in order
* Re-evaluate investments
* Maximize Generosity
8. True FINANCIAL FREEDOM
* Experience true financial freedom as you allow God to fully and completely use your time, talent, and resources to fulfill HIS purpose for your life
