Parts A & B (Slides 1-27)
Welcome to A Success Plan for Your Personal Relationship with Money Parts A & B
Basically, this quote is saying that you can be happy without having to spend more money on stuff that you don’t need, while pursuing your purpose in life and the world will also be a better place to live. What could be simpler – What could be better????
Are you Managing your Relationship with Money, or are you Waiting for a Miracle????
Essentially, there are (4) Money Relationship Styles.
You’re a Player. Basically, you spend every penny you can on having a ball – I think the young people call this “Ballin’”.
You find yourself forever in the “Friend Zone” You’re nice to your money – you pay your bills and you may even have a little left over, but at the end of the day you want more from your relationship with money.
You’re Good to your Money. You save when you can and maybe even invest a little, but you’re still not totally “Committed” to “Managing” your Relationship with Money.
You are committed to managing your money. You’re creating assets and multiple streams of income while shedding liabilities and ending your servitude to debt.
I want everybody now to just think about how you’ve earned and spent your money in the past, while we talk about the different ways that people can earn and spend money.
These are the (3) different ways that you can earn money:
Earned Income, Portfolio Income and Passive Income
You’re managing your Money when you’re Spending Less; Saving More; Investing Smart and Creating Multiple Streams of Income.
Now you’ve had some time to think about how you’ve earned and spent your money in the past. Now are You Committed to Transforming Your Relationship with Money in the future????
Having Negative Priorities means putting things that may make life easier before things that make life more fulfilling.
Having Positive Priorities means putting things that that make life more fulfilling before things that just make life easier.
Just to illustrate how priorities can be organized, this is a very widely used model for prioritizing needs named Maslow's Hierarchy of Needs
Before you can create and stick to a financial budget – which is very important, you need to create a “Priorities Budget” to determine what is most important to you.
Now if you don’t take anything else from what we’ve talked about so far – please remember this one thing: Don’t Buy Stuff You Can’t Afford Let’s watch this short video that talks a little more about this topic.
Translation: Just get going – everything else will take care of itself.
This video taken from the film “The Pursuit of Happyness” will hopefully reinforce the previous statement(s).
So what are the 5 Steps to Transforming Your Relationship with Money????
Dr. Martin Luther King, Jr. once said that “Faith is taking the first step even when you don't see the whole staircase.” In the Holy Bible - Luke 11:9 says….
In 1 John 2:16 the Holy Bible says that….things keep us tied to the world and further away from God. What things are keeping you tied to the world and further away from living the life that you want to live????
W.E.B DuBois once said that “To whom you give your money, you give your power." Proverbs 22:7 stated it another way…. – it essentially says that you are a slave to whoever you owe money too.
We have to stop lying to ourselves about our relationship with money. Why???? Because Proverbs 10:9 says that ….
If you don’t have a budget to keep track of what’s coming in and what’s going out, you’ll never have a clear picture of what you need to do, to go where you want to go – Your budget is your compass to finding the way to your financial destination. We’ll discuss some specifics of budgeting in the next section.
This concludes parts A & B of A Success Plan for Your Personal Relationship with Money Brought to You by: Vince Rogers & Associates Please contact us to formulate a winning "Success Plan" for your business or non-profit organization.
Parts C & D (Slides 28-47)
Welcome to A Success Plan for Your Personal Relationship with Money Parts C&D
Your Budget is the first tool you need to create a strategy for transforming your relationship with money.
In order to achieve your financial goals, you need to have an organized strategy for transforming your ambitions into a series of purposeful actions.
Let’s watch a short video that illustrates how it’s never too early or too late to learn the importance of having a budget.
Whether it’s a lower price, a better rate, a shorter term or a budget billing plan for your utilities – Everything is negotiable, but you have to ask for it.
Home Maintenance can help to prevent costly repairs, leads to lower utility bills and lower insurance costs.
Automobile Maintenance helps to prevent costly repairs, leads to higher gas mileage and longer vehicle life.
Insurance coverage, not stocks and bonds are the foundation of a sound financial plan. Unexpected healthcare costs can wipe out savings quicker than almost any other expenses. Uncovered expenses due to inadequate life insurance can wipe out any inheritance you might leave your family.
Banking and Investments accounts are products, shop for the best rates and terms – not by brand name.
Actively managing your debt is the key to achieving your financial freedom
We have all heard of the 7 Deadly Sins; but have you ever considered how they relate to your relationship with money????
We were created to be “Overcomers”. Learning how to avoid the Seven Deadly Sins of Money can help us all to become financial “Overcomers”.
Sometimes our wealth can cause us to become so arrogant that we lose touch with out true purpose, reality, other people and most importantly God.
Do you want more money just to impress other people????
Do you want more money just to buy more things you don’t need????
In the Christian Bible - Romans 6:23 says that “….the wages of sin is death….” Oftentimes when we have more money, we’re able to buy more things that we think will give us pleasure, but sometimes these things end up bringing us more pain than pleasure and keep us away from fulfilling our true calling.
Does not having enough money motivate you or make you angry????
Do you want more money just to horde it or put it to work???
Once we have a plan in place for transforming our relationship with money, we must work our plan diligently and continuously avoid slipping back into our old bad money management habits.
This concludes parts C & D of A Success Plan for Your Personal Relationship with Money Brought to You by: Vince Rogers & Associates Please contact us to formulate a winning "Success Plan" for your business or non-profit organization.
****This presentation was originally created for:
Harmony Church in Atlanta, Georgia
Pastor Roland Lane, Jr. presiding****