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HOW TO ACHIEVE FINANCIAL FREEDOM

Financial freedom manifests itself in every aspect of the Christian’s life – relief from worry and tension about overdue bills, a clear conscience before God and before others, and the assurance that God is in control. God doesn’t promise to remove every difficulty, but no matter what the circumstances, He promises peace.

Steps to financial freedom:

* Transfer ownership. You must transfer ownership of every possession to God – money, time, family, material possessions, education, even earning potential for the future. It may be difficult to seek God’s will consistently in the area of material things because we are so accustomed to self-management and control. But financial freedom comes from knowing God is in control. Look for the blessings God has in store as a result of this attitude.

* Get rid of debt. Debt exists when any of the following conditions are true:

* Payment is past due for money, goods, or services that are owed to other people.

* The total value of unsecured liabilities exceeds total assets. In other words, if you had to cash out at any time, there would be a negative balance on your account.

* Anxiety is produced over financial responsibility, and the family’s basic needs are not being met because of past or present buying practices.

* Write a plan. Write all expenditures and their order of importance. This will help you differentiate between needs, wants, and desires.

* Needs are necessary purchases, such as food, clothing, home, and medical coverage.

* Wants involve choices about the quality of goods to be used. Dress clothes versus work clothes, steak versus hamburger, a new car versus a used car, etc.

* Desires are choices according to God’s plan, which can be made only out of surplus funds after all other obligations have been met.

* Essentials first. If you are in debt you must stop any expenditure that is not essential for living. Find ways to economize, conserve, and be content with less.

* Think before buying. Every purchase should be evaluated as follows:

* Is it a necessity?

* Does the purchase reflect your Christian ethics?

* Is this the best possible buy you can get?

* Is it a highly depreciative item? (For example: swimming pools, boats, and sports cars.)

* Does it require costly upkeep?

* Discontinue credit buying. If you are in debt from the misuse of credit, stop – totally stop – using it. Then make a plan for paying off all your outstanding debt.

* Practice saving. Practice saving money on a regular basis, and this includes those who are in debt. Even if it’s only $5 a month, develop a discipline of saving.

* Establish the tithe. A tithe as the minimum testimony to God’s ownership. It is through sharing that you bring His power in finances into focus. God wants you to give the first part to Him, which may require sacrifice to meet your other bills.

* Accept God’s provision. To obtain financial peace, recognize and accept that God’s provision is used to direct your life.

———– Larry Burkett is founder and president of Christian Financial Concepts, a nonprofit ministry that provides personal counseling and instructs individuals through nationwide seminars. He holds degrees in marketing and finance and hosts two radio programs. Larry has written more than 40 books, including The Coming Economic Earthquake, Debt-Free Living, Women Leaving the Workplace, and the novels The Illuminati and The THOR Conspiracy. He and his wife, Judy, live in Gainesville, Ga., and have four grown children and nine grandchildren.

For more information on the ministry of Christian Financial Concepts call: 1-800-722-1976 or write: Christian Financial Concepts, P.O. Box 2458, Gainesville, GA 30503-2458.

From Your Finances In Changing Times by Larry Burkett. Copyright (c) 1975 (Moody Press revised edition, 1993) by Christian Financial Concepts. Used by permission of Moody Press, Chicago, Ill., 1-800-678-6928.