Finding Financial Freedom


Wednesday, October 31, 2018


Financial freedom is something most people dream of. Something I’ve dreamt about my entire life. It’s always seemed impossible but after Financial Peace University, I realized I could achieve financial freedom. It’s not an easy task. It takes diligence, determination, patience, and faith, much like our walk with Christ. And, that’s exactly how my husband and I are on the route to finding financial freedom.

Money is mentioned in the bible over 800 times! Nowhere in scripture is debt viewed in a positive way. God gave us money to use as a tool; a tool to advance His kingdom. The goal isn’t to be rich but the goal is to live and give the way God designed us to. It’s about learning what to do with everything God has entrusted us with, which includes money.

The way we handle our finances will impact every part of our lives, our future, our marriage, and even our children. God has called us to be good stewards. Let us be good stewards with our money; the money that God has given us. These are a few steps that we have learned that can start your route to becoming financially free.

$1,000 Emergency Fund

This has been a lifesaver for us. It’s a security blanket. It’s $1,000 emergency fund in a separate bank account that we do not touch unless it’s an emergency. Think about it, most of the time when you have car problems it’s roughly a few hundred dollars. If you’re a homeowner, something is bound to break and it’s also a few hundred dollars. Rather than waiting for something to go wrong to come up with the money, we are prepared for when the emergency arises. That’s the first step to becoming financially free.

Getting out of Debt

Here comes the process of getting out of debt, which has several components to it. The most important part is telling your money where to go every month by creating a budget and sticking to it. Once we started doing this, we realized we were spending way too much money on things that weren’t necessary. When we started telling our money where to go, that’s when we took back control of our finances. We then decided to stop using our credit cards because we wanted to tackle our debt, which meant pay off all our credit cards, student loans, and our cars. In Proverbs 22:7 it says, "The borrower is slave to the lender." We stopped borrowing money and started using a technique called the debt snowball to tackle our debt and guess what, it really works! In one year we were able to pay off 75% of our debt. Imagine not owing anyone money, no more minimum payments? That is freedom!

Investing in your future

Imagine you are debt free now. What’s next? This is the exciting part! You start building wealth for your future, for retirement. In Proverbs 21:20 it says, "In the house of the wise are stores of choice food and oil, but a foolish man devours all he has." This means investing for retirement and saving for our children’s college. "A good man leaves an inheritance for his children’s children." Proverbs 13:22

On our road to financial freedom, "we are living like no other now, so later we can live like no other." Financial peace is more than becoming debt free and building wealth, it’s about being able to give with an open hand to the widows, orphans, and single parents. It’s about tithing and offering abundantly. It’s about using what God has given us to bless others.

 

Author: Renata B.

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