I.Kingdom Finance Review
A. Mike's Definition:
1. God's provision for you as you see his kingdom come in and through your life.
2. So that you can be a blessing
a. to your family
b. to your community
c. to your nation
d. to the nations
B. Listening Prayer Report back
a. What has Jesus been saying to you?
C. Review
1. Why is it important right now?
a. The Great Transfer of Wealth
b. Qualifying the Managers
2. The Most Important Success Principle that qualifies Managers
a. Faithful in a little, Faithful in a lot.
3. The Most Important Question that Managers need to answer to be faithful
a. How much is enough?
b. Godliness with contentment is great gain
4. Review Case Study
a. by faith start a ministry which is a business!
b. Qualify faith through Scripture, wise counsel (especially from one’s spouse) and a witness of the Spirit of God.
II.Teaching Overview
A. Close your Circle!
1. Open Circle expands as income increases
2. Closed Circle enables surplus to be a blessing to others and to the nations.
3. To close your circle develop a written Budget!
B. Purpose of a budget
1. A Budget provides a written plan for earning, savings & spending (including giving)
2. A budget helps your entire family focus on common goals, e.g. God's calling
3. A budget is a guide that tells you whether you're going in the direction you want to be headed in as a family.
4. A budget lets you control your money instead of your money controlling you
a. Earl Pitts: "Money is to be a SERVANT to the Wisdom of God."
5. A budget will help you to "step up to your debts!"
a. get out of debt
b. keep you out of debt.
6. A budget will tell you if you're living within your means
a. Help detect problem areas.
7. A budget helps you prepare for emergencies or large or unanticipated expenses
8. A budget can help you meet your savings goals
a. Savings of three months of expenses without income
9. Following a realistic budget frees up spare cash so you can use your money on the things that really matter
a. Offerings for the poor!
10.A budget can improve your marriage
a. good budget is not just a spending plan; it's a communication tool
b. Done right, a budget can bring the two of you closer together as you identify and work towards common goals
c. reduce arguments about money
d. increase accountability & trust between partners
11.A budget reveals areas where you're spending too much money so you can refocus
12.A budget actually creates extra money for you to do use on things that matter to you
13.A budget helps you sleep better at night because you don't lie awake worrying about how you're going make ends meet
14.A Budget proves the faithfulness of God by providing a measure of his provision
C. What a budget will do
1. Help you visualize your goals
2. Provide a written point of reference for husband and wife
3. Help family communications
4. Provide a written reminder
5. Reflect your spending habits
D. What a budget will not do
1. Solve all your immediate problems
2. Make you use it
3. Eliminate all decision making
4. Balance by itself
E. Getting started with your budget
1. Understand your current financial position
2. 6 steps to Creating a family budget
a. 1. Define Your Circle
i. Life Map
a) God's Calling
(i) What has God called us to be & to do?
(ii) What has he NOT called us to do?
(iii) Where are we now in relation to His calling?
(iv) How much is enough for us to make the trip?
(v) How much MORE do we need now for us to make the trip?
b) 4 Quadrants
Richard Bolles, The Three Boxes of Life, And How To Get Out of Them, An introduction to life/work planning. (Berkeley, Ten Speed Press, 1981)
(i) I. Life (In general)
(ii) II. Learning
(iii) III. Leisure
(iv) IV. Labour
c) Family
(i) Father
(ii) Mother
(iii) Child 1
(iv) Child 2
(v) Child 3
ii. E. G. Mike McLoughlin
a) God's Calling
(i) Mike's Calling
(a) Habakkuk 2:2
Write the vision; make it plain upon tablets, so he may run who reads it.
b) Present Travel Plans
(i) I. Life (In general)
(a) Husband
(b) Dad
(c) Friend
(d) Church Member
(ii) II. Learning
(a) Masters, Christian Studies
(b) Marketplace Theology specialty
(iii) III. Leisure
(a) Swimming
(b) Skiing
(iv) IV. Labour
(a) Business Manager, Medi-Kel clinic
(b) Consultant, Alpha Safety Ltd. in Fort St. John
(c) Director, YWAM Marketplace Mission
c) Future Travel Plans
(i) I. Life (In general)
(ii) II. Learning
(a) Complete my Masters degree before I die (I have been registered since 1986!)
(iii) III. Leisure
(a) Learn to Sail
(iv) IV. Labour
(a) Expand Medi-Kel clinic
(b) Consultant for Kingdom Companies
(c) Write a book on Marketplace Mission
b. 2. Gather your Information
i. Research
a) Use a 30-day expense diary or notebook
b) Use a checking account ledger
c) Download your bank statement to a CSV file & open with Excel
(i) Sort by Expense Memo
ii. Identify
a) List all debts with amount due
(i) monthly payment
(ii) due date
(iii) interest rate
b) List of Regular Expenditures
c) List of Planned Expenditures
(i) Property Tax
(ii) Home Insurance
d) Family Net Worth
(i) Assets
(a) House
(b) Investments
(ii) Liabilities
(a) Mortgage Debts
(b) Credit Cards
(iii) Net Worth = A - L
c. 3. Prepare the Budget
i. Obligations = $ ____________
a) fixed expenses
(i) Rent
(ii) Mortgage Payment
(iii) Auto Insurance
(iv) Health Insurance
b) variable expenses
(i) Tithe
(a) Depends on your income, goes up and down)
ii. Needs = $ ______________
a) fixed expenses
(i) Phone
(ii) School Fees
b) variable expenses
(i) Food
(ii) Long Distance
iii. Wants = $ ______________
a) fixed expenses
(i) Cable
(ii) Newspaper
b) variable expenses
(i) Restaurant Meals
iv. Provision = $ _______________
a) Known Provision = $ ____________________
b) Needed Provision = $ ________________________
c) The More Provision = $ _________________________
(i) The MORE Provision we need for the Circle God has called us to
d. 4. Pray Strategy for your budget
i. Be wise
a) Make the necessary assumptions
b) Be conservative
c) Under estimate your provision
d) Over estimate your expenses
ii. Be in Agreement
a) Plant a Standard before God
b) This IS how much is enough!
iii. Be specific
a) This IS how much more we need for there to be enough!
b) Thank you God for being our Provider
e. 5. Organize & Implement the budget
i. Open a Bank Account
ii. Set up Direct Deposit for Pay
iii. Open a Savings Account
iv. Set up regular transfer to a savings account
f. 6. Evaluate Budget progress
i. Are you on track?
ii. Where are you spending more?
iii. What adjustments can you make?
a) Check assumptions
3. Using a budget
a. Keep it visible and available for use
b. Set achievable goals and estimates
c. Keep records up to date
d. Establish a set time to review it with your spouse
e. Make changes as circumstances and plans warrant
f. Use a calendar to track income received and when bills are due
i. designate 2 to 4 regular days
ii. to pay the bills before they are due
F. Do's & Don'ts of Kingdom Finance
1. Do's
a. Set your goals—with your family
i. Answer the question - How much is enough?
b. Use a written budget
c. Provide for the Lord’s work first
d. Limit credit
e. Think before buying or investing. Be prepared to do your due diligence & learn about the market if you want to self invest.
i. Always take a written list into the store with you.
f. Practice saving money regularly for large cash purchases or emergency situations.
g. Get out of debt quickly
h. Seek good Christian counsel. Hire an honest, reliable professional advisor with a good track record & trust him with your investment decisions.
i. Stick to your plans.
j. Be aware of your weaknesses, your ability or non ability to evaluate risk.
2. Don't
a. Get into speculative investments
b. Indulge in lavish expenditures
c. Pay interest
i. Cancel Credit Cards if you can't make the monthly payment
d. Pay services fees if you can pay cash instead
e. Impulse buy
III.Kingdom Finance - Small Group Case Study III
A. Our friend is a wiser & more humble follower of Jesus
1. He repents to God of presumption wrt investing the family savings in the Mining company and losing it all
2. He apologizes to his wife and promises to consult her from now before making major financial decisions
3. He commits to a three legged stool approach to Listening Prayer
a. 1. Does the Word confirm it?
b. 2. Does the Body confirm it?
c. 3. Does the Spirit confirm it?
B. He attends a seminar by Earl Pitts entitled "Walking in financial Freedom.”
C. Learns about the importance of answering the question - how much is enough?
D. Meets with his wife and together they seek God for what God has called them to as a family.
E. Our friend commits to working five days a week & trusting God that he will enable him to disciple new Christians through his motorcycle business
1. Wife stays home with children
F. They work out a moderate budget for family expenses
1. Monthly Income from Business = $4,000
2. Family Expenses including debt repayment are $4,500 per month
G. Important Items
1. Have a credit card balance of $10,000
a. Paying 21 percent annual interest
2. Owes $15,000 to his father who helped him start his business
3. Owns a 4 X 4 Truck Monthly Payments are $425 per month
4. they are not tithing
H. What are some ideas for restructuring their budget so that they can make their payments and tithe?
IV.Listening Prayer Assignments
A. PAST - Father, what lies of the enemy have I believed because of financial failure in my life?
B. FUTURE - Jesus, what it the truth about my financial future that you have planned for me?
C. PRESENT - Spirit of God, what can I do right now that will make a difference in my financial situation?
V.Summary
A. What is The MAIN Idea?
1. Close your circle by preparing a budget
B. How it works?
1. The Closed Circle is God's Kingdom Finance for your Life
2. Your Budget defines what that circle is and what you need to do see God's provision become a reality in your life
C. What are the results?
1. Blessings for you and your family
2. Blessings for those God has called you to bless
3. Blessings to the Nations
VI.For More Information
A. Larry Burkett
1. Family Financial Planning
2. In The Complete Guide to Managing Your Money
B. Randy Alcorn
1. Debt: Who You Gonna Serve?
2. A Financial Covenant with God
C. Earl Pitts
1. Book: Wealth, Riches, and Money
