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SAINT LUKE BIBLE FELLOWSHIP

FINANCIAL PRINCIPLES

 

FINANCIAL MANAGEMENT  
 
According to insurance companies statistics, of one-hundred (100) people who reach retirement age;
1. Eighty percent (80%) of people will be working with no savings and will be financially broke upon reaching retirement age.
2. Fifteen percent (15%) of people will have some savings put aside and will still have to work upon reaching retirement age.
3. Four percent (4%) of people will be financially abundant and will not have to work upon reaching retirement age.
4. One percent (1%) of people will be financially independent and will not have to work upon reaching retirement age.

There are two (2) main reasons why ninety-five percent (95%) of people reach retirement age financially broke and must still work;
1. They never decide to retire financially abundant and/or financially independent.
2. They procrastinate about doing the things they need to do to become financially abundant and/or financially independent.

There are four (4) critical steps that people must learn and apply to achieve financial abundance and/or financial independence;
1. A Desire To Be Financially Abundant.
2. A Decision To Be Financially Abundant.
3. The Discipline To Be Financially Abundant.
4. The Determination To Be Financially Abundant.

FINANCIAL MANAGEMENT GOALS/OBJECTIVES

The five (5) goals/objectives of financial management are;
1. Self-Improvement.
2. Financial Planning.
3. Financial Asset Investments.
4. Financial Asset Protection.
5. Financial Harvesting/Reaping.

 

LAWS OF WEALTH

Financial management, financial abundance and financial independence begins with knowing, understanding and applying the seven (7) laws of wealth;

FIRST LAW OF WEALTH
   The Learning Law

SECOND LAW OF WEALTH
   The Earning Law

THIRD LAW OF WEALTH
   The Tithing Law

FOURTH LAW OF WEALTH
   The Saving Law

FIFTH LAW OF WEALTH
   The Investing Law

SIXTH LAW OF WEALTH
   The Spending Law

SEVENTH LAW OF WEALTH
   The Sharing Law

 

REDUCING FINANCIAL DEBT
 
Reducing and/or eliminating credit card debt begins with knowing, understanding and applying the following five (5) steps;
 
STEP ONE
   List All Financial Debts On Paper.

STEP TWO
   Re-Arrange The Financial Debts List From Lowest To Highest Balance(s).

STEP THREE
   Make A Minimal Additional $100.00 Payment On The Lowest Balance.

STEP FOUR
   Pay Minimum Balance On Remaining Balance(s).

STEP FIVE
   After Paying Off The Lowest Balance(s) Repeat Steps Two - Five.
 
 
PRINCIPLES OF FINANCIAL ABUNDANCE & FINANCIAL INDEPENDENCE

Investors who learn, understand and strictly apply the following seven (7) financial principles will avoid investing in Wall Street’s complicated and confusing investment products;

FIRST FINANCIAL PRINCIPLE
   Be Responsible For Using Their God Given Abilities, Gifts & Talents To Acquire Finances.

SECOND FINANCIAL PRINCIPLE
   Be Responsible For Acquiring & Multiplying Their Finances.

THIRD FINANCIAL PRINCIPLE
   Give The Lord God His Portion Of Their Acquired Finances.

FOURTH FINANCIAL PRINCIPLE
   Pay Themselves A Minimum Of Five Percent (5%) To Ten Percent (10%) Of Their Acquired Finances.

FIFTH FINANCIAL PRINCIPLE
   Consult With Financially Wise People On How To Multiply Their Acquired Finances.

SIXTH FINANCIAL PRINCIPLE
   Find Employment For Their Acquired Finances So Their Acquired Finances Can Multiply And Earn More Finances.

SEVENTH FINANCIAL PRINCIPLE
   Allow Their Acquired Finances To Work Long Enough To Multiply So That It Will Hire Several Thousand Workers In The Form Of Other Finance(s).