3 To Be Free

 

3 To Be Free

    "The Spirit of the Lord is on me because he has anointed me to proclaim good news to the poor. He has sent me to proclaim freedom for the prisoners and recovery of sight for the blind, to set the oppressed free, to proclaim the year of the Lord's favor." (Luke 4:18-19)

    These words from Jesus above laid out much of what he did in his appointed time of ministry. In that same flow with your finances, the opportunity awaits you to receive if you attend the upcoming 3-hour no-cost Debt-Free Class at Broomfield Assembly on Saturday, July 30th.

    If you will invest 3 hours of your time, during this information-packed and encouraging class, my wife Karen and I will bring you the return of:

- an easy-to-understand practical plan to eliminate all your debts, including your mortgage

- a broad and solid scriptural foundation, you will receive pages of encouraging verses to             keep you inspired

- choices you can now make, knowing you do not have to follow the crowd and remain in             debt

    

What to expect at the class:

Some sobering statistics of how most are failing financially, usually by following            conventional wisdom. How many people are really only "renting" their lifestyles, and do not    own anything bought with credit.

 By bringing your own list of debts, we'll show you how to prioritize paying them off and how to find the missing amounts in your household to use to accelerate their reductions and pay offs. Using your own numbers you will have a specific timeframe of when your household can be completely debt-free.

How the average American family is doing right now -- and how they can become debt-    free following the plan, along with the huge differences it makes into the future.

The myths and lies from "Financial Experts" about credit, mortgages and interest rates.

Encouraging testimonies of God blessing the efforts in our household and of others we've received word of after they began taking steps to becoming debt-free.

    Going back to our opening verses from Luke above, at the class we will proclaim the good news... that there is a path out from lacking due to debts. We will proclaim freedom... you do not have to be in shackles to a pile of monthly payments. Recovery of sight... we'll show you where there are "holes" in your spending that can be adjusted to pay off debts. Set the oppressed free... to find a way out from the stresses caused by debts. To proclaim the year of the Lord's favor... sharing the testimonies of others who have taken the class and then seen the Lord bring financial blessings to them to pay off debts.

    If you wish to attend the class on Saturday, July 30th from 9:00 to 12:00 noon, please contact the church. Pre-registration is encouraged but not required. Bring to the class a list of debts including the total balances and minimum monthly payments, a pencil and calculator.

    Lastly, whatever your current financial situation, know that the Lord can bring restoration to you, as He spoke in Joel 2 - "I will restore for you the years that the locust has eaten... and you shall eat in plenty and be satisfied and praise the name of the Lord, your God, Who has dealt wondrously with you."

God Bless you and may He show Himself greatly to you,

Paul

The Most Costly Mistake

 

The Most Costly Mistake

    In Luke 14:28, Jesus said "For which of you, wishing to build a building, does not first sit down and calculate the cost (to see) whether he has sufficient means to finish it?

    Jesus here was communicating plainly to crowds about what was required to be His disciple, however the wisdom he spoke of here is invaluable to us in the area of borrowing - and especially when it comes to refinancing.

    Because of the great expense a home purchase is and the length of the contract, any error we make in the contract can cost us enormously and for a long time. With refinancing, the most costly mistake is to focus on monthly payments alone. When you refinance, you're restarting the clock on that loan, so if you've been paying your loan for a while, the new loan could leave you with a longer payoff timeline.

    Stretching out your repayment schedule is often enough to reduce monthly payments by itself (regardless of the new interest rate... think about that and why it is). The trouble is that if you make the payments last longer, you'll also pay a ton more in interest over time.

    That is why we must heed the words of Jesus above... to sit down and calculate the cost. To decide if refinancing really makes sense, look at both the projected new monthly payments and total interest costs. If you can reduce both, then you're in great shape. To put it in the most simple math and terms, if you currently owe "X" amount in total payments, and the new loan amount of the total payments is greater than "X", you will be worse off as you're only trading smaller payments in exchange for a larger total loan amount.

    It can still be beneficial if you can reduce your interest rate and your payoff time, even if you don't reduce your monthly payments. Because in this scenario, you'll pay less over time and can become debt free faster. 

    One of the most eye-opening documents to see and understand to help in this area is the Loan Amortization Schedule, because it shows exactly the breakdown of your current payment - how much goes to Principal, how much to Interest, and the ongoing Balance you have remaining. Look at the data below for a new loan of $500,000 at a 5.25% interest rate:     

    See how in this first payment that $2,187 is going to pay Interest, while only $573 is reducing the Principal?  If it feels like you are paying 79% Interest, you are right - it's really only a 5.25% loan if you pay if off in one year.

    It will take nearly 17 years... all the way until May 2039 before the amount of Principal reduction each month finally becomes more than the Interest paid. By this time you've sent in over $373,000 in payments, but only reduced your Balance by $187,000:

    If it is not advantageous to refinance, you can still reduce your Balance owed rapidly by making an additional payment amount applied directly to the Principal. This extra amount paid will reduce the Balance dollar-for-dollar, and you will gain substantial equity every month. In addition, your normal payments in the future will reduce the Principal by even more because you are now further down the schedule of what remains.

    If you would like to see some further discussion on the topic of mortgages and the Amortization Schedule, click on the Archives section for the December 2020 post or copy and paste the location below: 

https://broomfieldassemblyfinancialfitness.blogspot.com/2020/12/the-death-pledge.html

    Your household may be struggling just to make the normal mortgage payment each month, so you're thinking "how can I have any more to send in?" I encourage you to attend the FREE upcoming Debt-Free Class at Broomfield Assembly on Saturday, July 30th. 

    

    We will show you the proven path to take to first pay down your smallest debts, then build your momentum to be able to pay double and even triple payments on your mortgage - retiring it in 3-4 years for most households. We will provide encouragement, and arm you with dozens of scriptures to keep you inspired. Please contact the church if you would like to attend.

    Lastly, know that God wishes to bless you, sustain you and keep you in this and all other areas, so please take with you this encouraging word from Isaiah 41:13:

For I the Lord your God hold your right hand; I am the Lord, Who says to you, Fear not: I will help you!

God Bless you and may He show Himself greatly to you,

Paul

        

Finances 101

 

Finances 101

        In 1 Corinthians 16:2 it is written, "On the first day of the week, let each of you put aside something and save it up as he has prospered." This chapter was speaking to meeting the needs of the church in Jerusalem, however in it we have an excellent foundation of instruction for how to take our first steps financially with every paycheck we receive.

        The first day of the week - once you are paid, place the Lord God Almighty at the very front of the line before anyone or anything else with your tithes and offerings. If it is online, go to the website and do so first. If you give in person, write out the check that day or set aside the cash in a safe place that day to give on Sunday. Doing so settles the matter... that God is first and having taken that action you are preventing anything or temptation from getting in the way.

        At times we all need to be reminded of how awesome God is. By taking this action regularly of giving to Him first before anything else, we honor Him and love Him and are taking a step in the flow of Matthew 6:33, that says "Seek ye first the kingdom of God, and His righteousness; and all these things shall be added unto you."

        Many of us may already have agreed-upon charges of monthly subscriptions for a variety of things. The option does not exist to decide when or how much we'll pay to these companies. Does the timing of our giving to the Lord show a similar priority? This is not necessarily in the form of always giving the exact same amount, for in 2 Corinthians 9:7 we're instructed to not give under compulsion, but as we've made up in our own mind and heart.

        The last portion of our opening verse above encourages us to "save it up as he has prospered". There may be some households that are currently forging through some tough times, however especially compared to the financial means of families in biblical times (when these verses were written), many households today are very prosperous with sizeable disposable income.

        And in those households prospering, the giving of our tithes to the Lord is a starting point. Because in a prosperous household it is easier to allow the things of the world and the desire for them to take hold. Jesus lovingly said in Matthew 6 that "where your treasure is, there will your heart be also." Therefore it is all the more important to cultivate a generous heart and attitude.

        There is a phrase (and songs) titled "Let go and let God". In our finances this translates directly to God Himself issuing a challenge to us... the only place God says to "Test Me". In Malachi 3:10 He says "Bring all the tithes into the storehouse, that there may be food in My house, and prove Me now by it, says the Lord of hosts, if I will not open the windows of heaven for you and pour you out a blessing, that there shall not be room enough to receive it."

        I have heard from Pastors who have served over many years say "I've never heard from one person who tithed that came back and told me it did not work". I can also attest in our household that from decades of giving tithes and offerings that the Lord has shown to be faithful, generous and good to us.

    Let's conclude with what is written and promised later in 2 Corinthians 9 for those who give:

"And God is able to make all grace (every favor and earthly blessing) come to you in abundance, so that you may always and under all circumstances and whatever the need be self-sufficient."

God Bless you and may He show Himself greatly to you,

Paul

        

        

    

With God = 100% Complete

 

With God = 100% Complete

        We are assured and know that (God being a partner in their labor) all things work together and are (fitting into a plan) for good to and for those who love God and are called according to (His) design and purpose. (Romans 8:28)

        This powerful verse can provide encouragement in two areas - to continue to persevere through supposed obstacles that may come, and to have faith to step into what God is calling us to do. Today, let's focus on the latter as it relates to our finances and debt.

        What should first give us faith and confidence to step into something? Let's look to Romans 10:17... "So then faith comes by hearing, hearing by the word of God". When my wife Karen and I first attended the Debt-Free Class, what ignited a spark was knowing that the principles taught lined up with what is written in God's Word... that we are to "owe no man any thing but to love one another" from Romans 13:8, and that "the borrower is servant to the lender" in Proverbs 22:7, and many others.

        It was because of this understanding of the agreement with God's Word that we were 100% committed to reducing our debts and eventually becoming a debt-free household, for we knew inside that God wanted us to do this. I shared in last month's post how God blessed our efforts, and others as well towards getting out of debt even sooner.

        What I really want to share with you today is that it's OK if you don't feel like you can make a "full court press" in this area now. Go ahead and take a step... a small step, any step, but do take a step towards what you know inside God is calling you to do.

        It could be just to resolve that you will not let next month's credit card bill be larger than it is right now. Or to bring a lunch to work or perhaps your own coffee from home just once a week. You know what areas of spending exist that are optional where a small change can be made to save even a modest amount... and put that amount towards reducing some debt. 

        What I know is this - that God looks on your heart, and in seeing you taking that step will begin to move on your behalf. It's much like with new believers in Christ, where God will do miraculous things to feed their new faith in Him and cause it to grow stronger. It may be that He simply gives you encouragement inside to continue and that He is with you, and it may be that He moves mountains on your behalf that bring in finances and reduce debts.

        As in any area, it does not require our performing to perfection to see God's plan come to pass. It does require our stepping out in faith to do what we are able to, and then God in His unlimited ability to "make all things work together for good", completes the process, and He makes it 100% perfect in His time.

        If you take that first step, you will begin to see the results, and I liken that feeling to adjusting a thermostat in that you realize it is something you have a level of control over and not the other way around. Then you will be excited and will find additional ways to save money and put those funds towards reducing debts the next month.

        Lastly, be encouraged to step out in faith, remembering with you this one simple and short verse from Romans 8:31 that covers it all:

        "If God is for us, who can be against us?"

God Bless you and may He show Himself greatly to you,

Paul

He Rejoices

 

He Rejoices

    "And if it should be that he finds it, truly I say to you, he rejoices more over it than over the ninety-nine that did not get lost." (Matthew 18:14)

    Today I want to us to look at this familiar parable in relation to if we should "go astray" in our finances and get lost.

    As we covered last month, it is easier and faster in today's world to go astray financially and become submerged in debt. However, we have a God who can move even faster and is more powerful to work on our behalf... if we allow Him.

    Our first step in overcoming debt is in recognizing that our previous steps have taken us where we do not want to be - whether it is that nagging feeling of uncomfortableness about how much you are in debt, or from the enlightenment of God's Word sharing His Wisdom to "owe no man any thing but to love one another" (Romans 13:8), or that "the borrower is servant to the lender" (Proverbs 22:7).

    For a long time I have seen God miraculously turn around finances for households, with the catalyst being their willingness to change their thinking about debt - and begin taking steps against it.

    A church member who attended our Debt-Freedom Class and was excited to begin her new journey was a manager who submitted a pay increase for one of her employees. Her superior said "you're not being paid enough" and gave her an immediate increase, and she knew exactly what to do with that increase - to reduce her first debt. She was thrilled to share how God had moved on her behalf to all in our Bible study group.

    Karen and I, in the early stages of reducing debts, were each given pay increases of over 10%... completely out of the blue that no one could have seen coming. We applied those newfound funds towards our debt and knew that God was working to "push the wind into our sails" and help us to be free of debt that much sooner.

    These and other examples are what I feel are tangible demonstrations of how "He rejoices" when He has found us, not to mention the additional connection of love felt from Him because one of those mountains in your life are moving that only He can move.

    Think about it from God's perspective, given what His Word says... would He be looking to bless someone financially who will take that and buy a new 90" television or boat, or one that is looking to obey Him and break free of their debts?

    Hopefully you are encouraged by what has been shared so far and say "what can I do next to move forward?"

    Karen and I teach a free, 3-hour class titled Debt Free & Prosperous Living. The course and textbook were authored by John Cummuta, who has helped more than three million people worldwide. But the real author of the principles is The Lord, which is why in the class we will cover over two dozen supporting scriptures that will leave you encouraged, excited and ready to begin your journey towards debt-freedom!

    Look for an announcement soon on our church website for the upcoming class, kick away the excuses the enemy would toss at you to keep you from receiving this life-changing instruction and sign up.

    Lastly, to further know how He rejoices in blessing and restoring us, take with you these verses from Joel 2:

Rejoice, you people of Jerusalem! Rejoice in the Lord your God! For the rain he sends demonstrates his faithfulness. Once more the autumn rains will come, as well as the rains of spring.

The threshing floors will again be piled high and with grain, and the presses will overflow with new wine and olive oil.

The Lord says, "I will give you back what you lost to the swarming locusts, the hopping locusts, the stripping locusts, and the cutting locusts. It was I who sent this great destroying army against you.

Once again you will have all the food you want, and you will praise the Lord your God, who does these miracles for you. Never again will my people be disgraced.

God Bless you and may He show Himself greatly to you,

Paul

    

Good Ol' Days

 

Good Ol' Days

    Remember the days of old; consider the years of many generations. Ask your father and he will show you, your elders, and they will tell you. (Deuteronomy 32:7)

    This verse was written to those of that era to recall and inquire about the works God performed and how it would lead to the coming Messiah. Today, I want us to learn about how the ways of our past generations differed financially from those of today, and what we can glean from that.

    In 1955, the average annual income was $4,400, with the average home price just over $18,000. Today those figures are $79,900 and $342,000 - with both representing just over 4 times the annual salary. A standard car was about $1,900, with today around $47,000 - still a similar ratio, however current cars have a much longer reliable lifespan.

    In that past era, more families stayed in their first homes longer, eventually paid them off and rarely refinanced. Those aspects are less prevalent today, and with the appetite for frequent refinancing... into new 30-year notes, makes it that much harder to achieve true home ownership.

    What is really the biggest difference between then and now financially, and why can there be such a struggle? It's plainly comprised in the photo below.

CREDIT CARDS, COMPUTERS & CELL PHONES

    You know that these inventions are not evil organically, but it is in how we can use and abuse them which cause self-inflicted wounds financially that can take years to undo. Our family above in black-and-white did not experience the temptation, pitfalls and calamity that can exist today in these areas.

    Back then, a family on tough times may be given some credit with their grocer or store if they knew them well. Revolving credit and cards (allowing for charges to not be paid off completely each month) was begun in 1958... and soon exploded from there, along with the consequences for consumers who fell behind in the form of high interest rates and penalties.

    Simply put, our 1955 family could only end up in so much debt - because the only available instruments towards debt were for necessities. Today, a person can quickly become underwater from buying ANYTHING. Yes... that's right, ANYTHING. You know that now you can purchase ANYTHING online, from the smallest basics all the way up to automobiles and have them delivered to you in a jiffy, with the accompanying delivery fees.

    In addition, it's possible to have a built-in charge onto every month of your credit card bill from subscriptions for everything from entertainment, pet items, fitness clubs, clothing and now even tacos. The takeaway is to review these subscriptions regularly - if you're using them and receive value from them, then keep them. But if not, remove them at once.

    No matter how times and devices change, God's Word will always show us the way to go, and here is no exception if we look at 1 Timothy 6:8 - "But if we have food and clothing, with these we shall be content."

    

    It is in anchoring our contentment in Jesus Christ, and the provision He has given to us at this time, that we will be genuinely satisfied and will reduce our cravings for the things of this world.

    If we need to reduce our debts, looking to a literal example to imitate is found with our past family:

- Try to stay in your current home, and if interest rates suggest a refinance is beneficial, only do so to the amount of remaining years in your current mortgage.

- In 1963 (earliest data available) less than 9% of new cars were leased, today it is over 26%. Buy your vehicles and thus have an asset available when it's time to replace.

- Limit the bulk of your credit card use to necessities. Have a separate debit card or bank account for frills and non-essentials. That way you cannot go into debt and pay interest for these optional things.

- Maintain a "pulse" with your spending. Review your credit card charges weekly or bi-weekly at most. It is the best way to know you are staying within your ability to pay it off at the end of the month and avoid a shock when the bill arrives.

- Statistics show church members tithed and gave at a higher rate of their incomes in 1955 than today. Remember that God is our source, that He considers the tithe to be holy and that we honor Him by placing Him first in our finances.

    Finally, be encouraged in viewing your horizon within the context of what is written in Jeremiah 29:11:

"For I know the plans I have for you, says the Lord, plans for welfare and not for evil, to give you a future and a hope."

God Bless you and may He show Himself greatly to you,

Paul

    

    

2022 & Unity

 

2022 & Unity

    Jesus stated in Mark 3:25 that "If a house is divided against itself, that house will not be able to stand." He also included before and after this that the same result will be true for a kingdom, and for Satan - that if it is divided it will not last.

    Let's focus in on how this and other scriptures apply to having unity in our finances.

    Simply put, a household cannot achieve reduction and eventually freedom from debt if there are "splinters" occurring willfully - should one spouse choose to continually make large, extravagant, and unnecessary purchases, even though the other spouse is trying maintain a prudent course, or if the children receive every item they want regardless of reason.

    This occurred for some time with the person who taught the Debt-Free & Prosperous Living course to me and my wife in Minnesota in 1999, and one who I am in deep gratitude towards... Dan Wieczorek. His wife Susan was not "on board" for a period of time, which resulted in them spinning their wheels, but eventually that changed and once both spouses were rowing in the same direction, they achieved freedom from debt.

    We've seen the division principal from that scripture shown before us - in companies, political parties and sports teams, to name a few. To the degree those splinters and eventual footholds occur, the downward trajectory of that unit is hastened until it does not stand.

    An organization or team can have a mission statement or philosophy to direct their efforts, but we as believers have something much more powerful... the Word of God. It speaks to us in the direction to go for our finances... to first honor God with our tithes and offerings, to be generous to others in need, prudent and sober in our spending so we spend less than we make and to trust in God and not in riches.

    So to achieve this "rowing in the same direction", the main focus is for all members of the household to follow God's Word together. 

    I want to take the liberty of extrapolating some with Ephesians 2:14, which is about harmony between Jews and Gentiles. However in this example I wish for you to please regard He (Jesus) to be the Word, which after all He is described as to be. And that the harmony sought is within a household instead.

    "For He is (Himself) our peace (our bond of unity and harmony). He has made us both (Jew and Gentile) one (body), and has broken down (destroyed, abolished) the hostile dividing wall between us."

    If a family seeks this peace - a bond of unity and harmony through understanding and submitting to God's Word, it will make that family one body, and there will be no wall dividing them.

    What does this look like in practical terms handling finances? Husband and wife communicating together on a regular basis, sharing what each of their needs and wants are. Taking the time to go over past spending and looking ahead to future commitments, planning to be reasonably certain they can meet them. Praying individually and together to understand God's will for their finances, including major purchases.

    This includes getting our children involved, listening to their desires and explaining to them some times that Mommy and Daddy cannot make a certain purchase at this time because they are "listening to and obeying God", but that the time may be right for the purchase in the future. Explain how there are things Mommy and Daddy both wish to have, but that they are both being patient in waiting for the right time to have them also.

    When moving through the process of paying off debts - (if you wish to view the step-by-step plan, click on the Archives to July 2021 of the post titled "Diligent to Know", or even better... enroll in a free 3-hour class) you may be denying yourself, or members of your family certain things temporarily in order to move forward. Dan taught to pick out some pay-off milestones to reward yourself and your family for following the plan. 

    Lay out this reward plan to the entire family when you begin...when you pay off the first credit card, go out for a real big night on the town or buy something special for the kids. When the car payment is retired, have a weekend getaway everyone would enjoy. And when the final mortgage payment is made... go ALL OUT and promise your kids they can go to Disneyworld or someplace that will blow them away. Your kids will want to help in any way imaginable if that promise is before them and it will bring you to that milestone that much faster as a family to celebrate!

Footnote: I just learned that Dan passed away last month at the age of 76. He left a legacy of households that had changed financial lives as a result of his courses for many years.

    Lastly, take this verse with you in your goal to have family financial unity in 2022:

"And above all these put on love, which binds everything together in perfect harmony." (Colossians 3:14)

God Bless you may He show Himself greatly to you,

Paul