The Financial Stewardship Challenge Part 2

Listen to the Podcast

Here is the replay from last night's zoom on the Financial Stewardship Challenge.

In September we are focusing on becoming great stewards who manage, multiply, and greatly increase all that God has entrusted to us.

Last night we discussed management or making the most of the resources we have. Here is some of what we discussed.

• The key is to steward our resources together with God and our partners. Steward in agreement with one another. 
• One of the first steps is to protect with emergency funds, insurance, business entities, and estate planning.
• How can income be raised? Expenses can only be cut so far but income can be raised exponentially.
• What expenses do everyone agree can be cut or changed?
• Can money be moved around to a better place?
• Can anything be restructured, refinanced, consolidated, etc?
• When making large purchases cash is not always the best option... Consider opportunity cost, debt, and cash flow. 
• Develop the habit of consistently setting money aside every time income comes in. 
• Use the partnership model whenever there is surplus. 10% to save, 10% to invest, 10% to give and split the remaining 70% with partners. 
• Whenever there is a deficit stay in love, keep trusting, and give a memorial portion(just a small amount) as a reminder that God is with us and to keep us externally focused.  

I am praying for you.

Daniel

P.S. Register for the Financial Stewardship Challenge Here - If you are already a partner you don't need to register.