A strategy outline for tackling your financial problems

A) Some Biblical principles regarding difficulty, money, and identity:

1)           It all belongs to God. Psalm 50:10

2)           God knows your troubles and brings comfort. 2 Cor 1:3-4, Ps 34:19

3)           Troubles come and go, but God is faithful. 2 Sam 22:26-30

4)           Remember whose you are

5)           Money is not the center of your life, it is not your master. You are its master.

B) Some things that every person of faith needs to do, whether times of trouble, or times of blessing:

1)     Pray

2)     Worship and give thanks

3)     Meditate on the Word

4)     Stay in Fellowship and not isolation

5)     No naval gazing or woe-is-me

6)     tithing

7)     Be generous in outlook (not necessarily money… no spirit of poverty)

8)     Use your spiritual gifts

C) Gain perspective

1)     These things are temporary

2)     God is worthy and able

3)     Good stewardship is not an automatic skill

4)     Nothing is off limits regarding your life and finances… everything is on the table

D) The process

1)     Need total income and outgo. Itemized list of the any regular expenses, plus irregular expenses that exceed $20. List of all credit cards and their balances, creditors and their balances, mortgages and loans of all kinds from all sources.

2)     Year and make of vehicles

3)     All insurance policies of every kind

4)     Deferred maintenance on house and autos

5)     Deferred health needs

6)     Determine total monthly deficit, total net worth, and total accessible assets.

E) The evaluation

1)     necessary vs. nice-to-have

2)     What can go on the chopping block

3)     Additional ways to earn money, additional sources of income (charity, etc)

4)     Let’s not go overboard with rigidity

F) The solution

1)     There always is one.

2)     It’s going to be very tough for a while. Are you up to the challenge?

3)     God will be glorified.