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Finances by Mind Map: Finances
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Finances

How much money should we earn?

We should earn as much as possible in the reasonable amount of time dedicated to economics.

Colossians 3:23

Matthew 6:33

Don't invest your time to get money; invest your money to get time

This will be a positive focused study of finances and their use

Take away

We have a biblical responsibility to earn as much as possible in integrity; so that we can utilize our resources towards achieving our purpose

Pay for your most important priorities first

If your purpose is to glorify God

Tithe

Money insights:

It is more difficult for a rich man to enter the kingdom of heaven; than a camel pass through the eye of the needle

What is money?

Loan family money with the expectation of never getting it back

Ten Financial Principles

1. Identify net monthly income

2. Document all expenses

3. Set a financial goal to save 25%

4. Never finance a liability

5. Set a price limit on spontaneous purchases

6. Pay off credit card debt and only use cash

7. Wipe out all consumer debt before starting to save

8. Know the difference between an investment and an expense

9. Focus on quality of life and peace of mind

10. Be a blessing to others