Making Master Money Moves!
March 13, 2022
Intro
- Marriages die or thrive based on Communication, Sex & Money!
- Money is the #1 issue married couples argue over!
- Money and possessions are the second most referenced topic in the Bible – money is mentioned more than 800 times!
Ecclesiastes 10:19 NIV
A feast is made for laughter,
wine makes life merry,
and money is the answer for everything.
Ecc. 10:19 MSG
Laughter and bread go together
And wine gives sparkle to life
But it’s money that makes the world go around.
Our unique money experiences as singles:
Pastor Rhonda and Pastor Joe
- Priority
- College
- First Job After College
- Parental Influence
- Early Money Mindset
- Entering Marriage
Becoming One in Finances:
- Money Talk
- Getting into Agreement (Separate or Joint)
- Financial Compatibility
- Differences: Asset or Liability
- Marriage: Singles Tennis or Football
Ecclesiastes 4:9-12 NLT
*Relationship Satisfaction Study – On a happiness scale of 1 to 7:
Couples with joint accounts only = 6.1 on the scale (honesty, openness & transparency = simplicity, focus, and unity!)
Couples with joint & separate accounts = 5.8
Couples with separate accounts only = 5.46
Advice for singles:
- Work on getting your money right now! You answer to no one but God and thus have the freedom to write your own financial autobiography
- Get a (same-sex, perhaps older, wiser) accountability partner or mentor.
From Financial Students, Teachers, to Makers
We created the Master Money Maker course
The Master Money Maker course is unique in that it combines teaching the skill of mastering the use of money with the art of maximizing your potential to make more money.
Being a Master Money Maker is not a destination, it is a journey. So if you want to be on your own journey of maximizing money, Say “I am a Master Money Maker!”
This journey starts like every goal in life – with your mindset.
- The Money and Mind connection is real!
- Mastering Money is 20% mindset and 80% behavior,
- Mindset drives behavior!
- Financial Behavior Science and Psychology is a bonafide field of study!
- Understanding Money Personality types:
Free Willie” marrying “The Frugalista” or “Free Willimena” marrying “The Frugalist, and closely held personal beliefs about money aka Money Scripts: Money Avoiders, Money Worshippers, Money Status Seekers, Money Vigilantes
i.e. The Money Habitudes “card game”, Financial Personality and I.Q Tests
The Master Money Maker Mindset
Let’s observe the Master Money Maker Mindset at work in the Word!
Luke 16:1–13 NIV
a. The Art of the turn-around
:1-2 You can turn around any bad employment or money situation.
b. The Goal of maximizing your gifts.
:3 You need to understand what you are good at. What you like and don’t like.
c. The potential of The Plan
:4 You need a plan to point you in the right direction.
d. The Path of the master
:5-7 Be knowledgeable, wise, and creative.
e. The Power of money
:8-13 Learn not to serve money but let money serve you!
Master Money Maker (M3) Highlights:
We say “Master Money” and “Make it work for you!”
3 Foundational Keys to a prosperous and successful M3 Journey:
1. Develop a Spending Plan
Luke 14:28 NIV
Include Savings and Investing in your spending plan:
Saving = the excess of income over expenditure that is reserved and preserved from loss or destruction. Think the FDIC (Federal Deposit Insurance Corporation) at your bank or credit union. Think Banker.
Proverbs 13:11 NIV
First Savings Goal = The Emergency Fund – with 3-6 months of living expenses saved for emergencies/ rainy days. Think security in the midst of the Government Shutdown & Global Pandemic and unexpected job loss. Debt Repellent! Most Americans cannot cover a $500 emergency w/o going into Debt! Think liquidity.
Include investing in your spending plan. The earlier the better!
Investing = a specific type of savings tool designed to provide the benefits of earnings from interest accumulation/gains on deposits over an extended period of time. Think Money Market Accts, Bonds, Stocks, Bonds, Gold & Silver, Real Estate, IRA’s, 401K’s 403 B’s SEP’s. Good Investing requires a higher level of financial intelligence due to the inherent risk and increased exposure to financial loss than standard savings tools.
Best Budgeting Apps: Mint, EveryDollar, GoodBudget, Pocketguard or Excel Template
Proverbs 21:5
Money Mastery requires both a strong defense and an effective offense.
Defense – Insurance & Annuities, Wills & Trusts
Offense – Investing
The best place to begin investing is to utilize the investment opportunities offered by your employer and/or through an investment house with an advisor, beginning with a mutual fund or an IRA account. You can also branch out on your own using many of the online applications.
Best Investment Apps: E*TRADE, SoFi, Fidelity Go, Robin hood, Acorns, Charles Schwab / Slices
Note: Many of these apps reduce your risk by allowing you to invest in percentages of higher-cost stocks.
2. Give yourself a raise!!!! –
Mindset/ Paradigm Shift: Debt is the new four-lettered word that we should desire to eliminate from our vocabulary! Not part of God’s Economy! Debt is normal in the World Economy and is driven by a consumer/credit-based system, i.e the “Almighty” Credit Score!
a.Avoid Debt!
Hint hint: The Debt Repellent = Emergency Fund
Romans 13:8 NIV
b. Pay off the debt you have!
Psalm 37:21 NIV
c. Tax Debt is the worst debt!
You can run but you cannot hide! Think Penalties, Interest, and wage garnishment! Think Optima Tax Relief and the entire industry built around helping people out of tax debt.
Romans 13:7 NIV
Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.
Convert Debt to Investment
3. Get on God’s Economy!
Mastering Money whether as a Single or a Married Believer requires trusting God to economize according to his plan!
a. First You must be convinced that God wants you financially blessed!
Deuteronomy 15:6 NIV
b. Tithe!
It insulates & protects you from your personal financial mistakes and missteps as well as the volatilities of the global economy (which will all soon be changing with the coming Tribulation period as prophesied). As a family, we have tithed in good and bad times and God has sustained us!
Malachi 3:10-12 NIV
c. Give!
This is a sharing of your resources – Time including finances above the Tithe!
Luke 6:38 NIV
Tithing & Giving in the midst of finances that are strained is God’s way out to abundance! Move this category to the TOP of your spending plan!
In Summary:
When Navigating Money and Relationships, especially Marriage you should:
Talk, Talk Talk about Money. Assess spending styles and identify your common values, interests, and goals that you can plan around. Establish financial roles and a monthly budget.
Genesis 11:6 NLT
“Look!” he said. “The people are united, and they all speak the same language. After this, nothing they set out to do will be impossible for them!
[Pastors Joe & Rhonda Frazier]