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Proverbs 14:30-31
30: "A heart at peace gives life to the body, but envy rots the bones."
31: "He who oppresses the poor shows contempt for their Maker, but whoever is kind to the needy honors God."
As I help folks get their finances in order, I cast vision as to "how things could be" IF "they would just do this, this, and that." Many times this involves selling some stuff – cars, boats, motorcycles, houses! I want people to have nice stuff, but many times the nice stuff is eating up 50% of their budget OR MORE. Folks just will not win with expenses like that!
As I cast vision, it is not unusual for me to say, "If you sell the two cars and buy two used cars, you could be debt-free except for the house in 12 months. If you keep the cars, you may be debt-free in 60 months." Or I might say, "If you sell the boat and motorcycle, you could be debt-free immediately. If you keep the boat and motorcycle, you may be debt-free in 72 months."
When I mention selling some stuff, I begin encountering resistance! This is their stuff! They love their stuff! They bought this stuff, and they want to keep it! Even when it is eating them alive financially! Even when they are not able to give one thin dime and are not assisting others at all!
As I go through meetings like this, I see that God's word is true. Proverbs 14:30 says that "envy rots the bones". When people have a bad case of stuff-itis, it is usually a result of envy. They saw someone else with that item, and they wanted one too. The difference is that they could not afford it. The verse also says that "a heart at peace gives life to the body." When stuff-itis is cured, WOW! The peace is awesome! Knowing you could go to the store and buy anything in there, but not doing it because you really don't need anything. Wow! I am telling you it is AWESOME! Jenn and I have been vaccinated against stuff-itis, and it feels good!
Proverbs 14:31 says that "whoever is kind to the needy honors God." I guess that is why it pains me so deeply in my soul when I see people up to their eyeballs in debt with a bad case of stuff-itis. They are so loaded up with their own wants that they do not even see the the needy, let alone help them.
The solution? Get a vaccination against stuff-itis!
Financial Learning Experience!
Last night was simply amazing!!! I had the opportunity to teach the tools that Jenn and I used to obtain financial freedom to over 350 people! It was awesome!
I was able to swim in credit cards last night. If anyone has a picture of that, I want it! It was totally unplanned, but it just felt right.
I was able to show people how to calculate their debt freedom date. You can do it as well! I have loaded the Debt Freedom Calculator under "Tools".
I was also able to show people how to spend all of their money on paper before the month actually begins. There is POWER in putting this plan TOGETHER BEFORE the month ever begins. You can obtain a blank budget and start doing this for your family as well. Just click on "Tools" above.
We took the time to write out the reasons we want to be financially successful and write down goals that we want to achieve. For many people in the room, it was the first time that our dreams were written down on paper! For many people, it was the first time in years that they have been able to even dream!
We calculated how much money we will need in our retirement funds to be able to retire, and once again we observed the power of compound interest. It IS the 8th wonder of the world! $100/month for 40 years @ 12% annual growth is $1,176,477. The money invested is $48,000, but the value is $1,176,477. WOW!
At the end of the Financial Learning Experience, everyone completed a survey. I wanted to share some comments that were made because they have rocked my world and are THE REASON I do what I do.
What are you going to do as a result of what you learned tonight?
- Do a budget plan with my husband for the 1st time in 32 years. (WOW!)
- Work on our finances together
- Change our lives
- Start tonight
- Plan a financial goal tonight
- Calculate my debt freedom date
- Start investing
- Share with my wife
- Work with my husband on our finances
- Make a budget
- Share the information with husband and children (wow!)
- Sign up for the 5 week class
- Stop adding new debt
To those who attended the FLE tonight, THANK YOU! I am so PROUD of the HUGE step you made tonight to learn more on how to improve your finances. This was a HUGE step. Do you know that over 690 people signed up for the FLE, but only 350 showed up. Why? Because it is TOUGH to face the dragons! This is emotional.
Never stop pursuing education about this! Don't give up after one month of budgeting. The 1st month is the toughest. You CAN do it.
Thanks!
Have you taught your children about compound interest?
Pardon me while I rant about this topic again!
I met with another person today who did not know about compound interest!
When I am able to show a person the POWER of compound interest and how it can help them (investing) or hurt them (paying interest on debt), I get pumped up! This is LIFE-CHANGING information!
I cannot believe that schools in America are not required to teach this to every single student! Math teachers should be required to teach it every single day! I mean, I have learned about derivatives and integrals and kernels and that knowledge does not help me every day, but compound interest DOES help me every single day!
I know that my investments are relatively small today, but, oh baby, when I see where they will be in 10 years, 20 years, and 40 years from now. WOW!!!!
$100/month at 12% return for 40 years is $48,000 invested but is worth $1,176,477!
Are you investing YET? RUN to the nearest investment office!
Have you taught your children about this? Do not depend on the school to do it! You need to teach them and model this for them. Kids get this stuff!