Financial planning – God’s Way

 

Establishing Long-Range Plans

 

What are long-range goals? They are short-range goals that are linked back to back; few Christians today make short-range plans let alone any long-range plans.  As an example, if allowed to go unchecked by normal standards our level of living will expand to compete with that of any nonbeliever. Faced with a large money surplus, the normal tendency is to “store” it for future protection. Without any prearranged plan we buy excessive life insurance, store useless assets, or we determine to impoverish or hopelessly spoil our children after we are gone.

 

Long-range planning God’s way will provide but not protect. It will insure your resource is an asset, not a liability.

 

Steps to Establishing Long-Range Plans

 

  1. You need a written plan, as it is the best.

I will be posting Forms to the Website to help with this in the near future.

Why is planning and follow-up necessary?
Proverbs 27:23  Be thou diligent to know the state of thy flocks, and look well to thy herds.

Proverbs 27:24  For riches are not for ever: and doth the crown endure to every generation?

 

  1. Establish maximum financial goals rather than minimum.

 

The normal thaught process is to attain riches and establish motives for accumulating money. At first the amount may be a few thousand dollars but this amount is soon adjusted as the funds become available.

Gods plan is for us to establish a maximum goal and to determine not to allow excessive accumulation.

 

1 Timothy 6:18-19  That they do good, that they be rich in good works, ready to distribute, willing to communicate;  Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.

 

What does God instruct us to do in the above verses?
Storing what?
What is his promised reward to us?

Luke 8:18  Take heed therefore how ye hear: for whosoever hath, to him shall be given; and whosoever hath not, from him shall be taken even that which he seemeth to have.

 Do you think this verse means, “the rich get richer and the poor get poorer,” as we commonly hear?

 

How does this verse relate to Luke 19:26?

Luke 19:26  For I say unto you, That unto every one which hath shall be given; and from him that hath not, even that he hath shall be taken away from him.

  1. Establish a Long-Range Family Plan.

 

Family goals are fundamental to future success. If they are made in accordance to God’s principles, the rewards will pass from parents to children. But, unless you have sound family plans and goals, how can you expect your children to become financially responsible?

    1. A family-sharing plan. It is very important that the whole family be made a part of God’s sharing plan. Husbands and wives should discuss this with their children. Give your children the joy of sharing from the resources also. These attitudes learned early will pay off in freedom from financial obsessions and greed. Paul said in 1 Corinthians 3:13 that each mans work will become evident.

1 Corinthians 3:13 Every man's work shall be made manifest: for the day shall declare it, because it shall be revealed by fire; and the fire shall try every man's work of what sort it is.

How does this relate to teaching your children about sharing freely?

Proverbs 13:22 A good man leaveth an inheritance to his children's children: and the wealth of the sinner is laid up for the just.

What is the inheritance referred to here?

 

  1. A Family living plan. If you haven’t established any standard of living for your family, others will. Families need to know the boundaries within which they can operate, and failure to establish these will result in overspending and ultimate bondage.

Peter 3:3-4 Whose adorning let it not be that outward adorning of plaiting the hair, and of wearing of gold, or of putting on of apparel; But let it be the hidden man of the heart, in that which is not corruptible, even the ornament of a meek and quiet spirit, which is in the sight of God of great price.

These verses relate to a reasonable standard of living. What is it?

Does this Scripture rule out any adornment?
What is the required balance?

 

1 Peter 3:7 Likewise, ye husbands, dwell with them according to knowledge, giving honour unto the wife, as unto the weaker vessel, and as being heirs together of the grace of life; that your prayers be not hindered.

 

Husbands are to_____________________ their wives?

They are to recognize and appreciate her_____________________________?

Wives are to be treated as _______________________________________ heirs?

Every family needs to recognize the difference between need, desires, and wants in life.

 

Matthew 6:32  (For after all these things do the Gentiles seek:) for your heavenly Father knoweth that ye have need of all these things.

 

In Matthew 6:32 God recognizes our what?  He promises to provide.



Basic Levels of expenditures

 

Needs – 1 Timothy 6:8 And having food and raiment let us be therewith content.

1 Timothy 6:8 describes them as:

 

Wants – Luke 3:11 He answereth and saith unto them, He that hath two coats, let him impart to him that hath none; and he that hath meat, let him do likewise.

Luke 3:11 describes wants as:

 

Desires –John 2:15  Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him.

John 2:16  For all that is in the world, the lust of the flesh, and the lust of the eyes, and the pride of life, is not of the Father, but is of the world.

(Lavishness) 1 John 2:15-16 describes them as:

 

Various products can illustrate the differences and their uses, as an example, we all need cloths. Simple, basic garments can satisfy that need.

 

Wants may be met by buying in an elite shop for fashion designs.

 

 Imported or exclusive clothing to dazzle other people may satisfy desires.

 

Every basic purchase in the home should be assessed by its category and allowed or disallowed according to God’s plan for your family.

 

  1. A family savings plan. Many families fail to save any money and as a result are always borrowing to buy. Even a minor financial setback sends them into panic and anxity.

 

Proverbs 21:20  There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.

 

What does the wise man do?
What does the foolish man do?
Later in this series we will discuss the difference between saving and hoarding.

 

  1. A family inheritance plan. Think about the consequences of large amounts of money left to your family either out right or in a trust. Do you believe that God will provide, or that he dies with you? Remember, God demands that we provide for our families not protect them. Later we will discuss how much you can or should leave, but remember to always evaluate in the light of God’s plan not the worlds.

Luke 9:59 And he said unto another, Follow me. But he said, Lord, suffer me first to go and bury my father.

Luke 9:60 Jesus said unto him, Let the dead bury their dead: but go thou and preach the kingdom of God.

Luke 9:61 And another also said, Lord, I will follow thee; but let me first go bid them farewell, which are at home at my house.

Luke 9:62 And Jesus said unto him, No man, having put his hand to the plough, and looking back, is fit for the kingdom of God.

This Man wanted his fathers inheritance, which could only be received

after the official burial.

Was his father’s inheritance a blessing or a curse?

 

Psalms 37:25 I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread.
What is God’s promise for descendants in Psalm 37:25

  1. Establish a Long-Range earning plan.

As we saw in short-range planning, many people allow others to set their financial goals. All to often losses are suffered because they are talked into a new method of seeking riches. Weather it is a get rich scheme or a legitimate investment program, doesn’t matter. If it not inline with your personal goals for earning money you will suffer.

 

Psalm 49:16 Be not thou afraid when one is made rich, when the glory of his house is increased;

Psalm 49:17 For when he dieth he shall carry nothing away: his glory shall not descend after him.

What does God tell us not to do of others?

What is the reward for accumulating only money?

 

Hebrews 13:5 Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.

 

Hebrews 13:5 God says stay away from?

 

  1. Establish a Contingency (or surplus) plan.

Once a maximum standard of living is established most Christians can expect to have surplus. You MUST predetermine the application of this surplus or it will be consumed through life-style adjustments and hoarding.

 

With the best intentions, many Christians keep the Lord’s surplus. Decide a on a positive contingency in the event God supplies an abundance. Why should he choose you to receive His riches?

Luke 3:11  He answereth and saith unto them, He that hath two coats, let him impart to him that hath none; and he that hath meat, let him do likewise.

 

What is Christ’s contingency plan for our surplus?

 

  1. Establish every long-range plan in light of God’s principles.

 

Honesty – God will accept nothing less than complete honesty. Every plan must take that into account.

 

Larry Burkett believes that the most common violation of honesty is tax evasion.  Christians who are otherwise honest cheat on their taxes and rationalize that they feel the laws are unfair, To take every tax avoidance is both logical and legal, but to evade taxes is illegal and dishonest. The lines are very narrow, and Christians must constantly be aware of the subtleties Satan will lay before us, all in the guise of shrewd “opportunities”.

 

Romans 13:6  For for this cause pay ye tribute also: for they are God's ministers, attending continually upon this very thing.

Romans 13:7  Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom; fear to whom fear; honour to whom honour.

 

God says that government leaders are?

 

Verse 7 says “ tax to whom tax is due.” That is the same admonishment we saw proverbs earlier in our lessons concerning the repayment of debt.

 

Matthew 17:25  He saith, Yes. And when he was come into the house, Jesus prevented him, saying, What thinkest thou, Simon? of whom do the kings of the earth take custom or tribute? of their own children, or of strangers?

Matthew 17:26  Peter saith unto him, Of strangers. Jesus saith unto him, then are the children free.

Matthew 17:27  Notwithstanding, lest we should offend them, go thou to the sea, and cast an hook, and take up the fish that first cometh up; and when thou hast opened his mouth, thou shalt find a piece of money: that take, and give unto them for me and thee..

 

In these verses we see that even Jesus paid taxes even those He was legally exempt.

 

Why did he do this?
What principle does that show for us?