Seminar Intro: “Someday Isle”
Dave Ramsey: How to effectively LOWER your income
Minute with Maxwell: “Try”
Clark Howard: Home Buying Credit Scores
Re-Listen to or Download the audio file.
Welcome to Financial Freedom God’s Way, where you are continuing to learn, apply, and pass on, Bible-based financial principles and applications so that you and your family will not only just survive, but thrive during these very uncertain times.
Hi and welcome everyone, this is Bob Louder from Christian Financial Ministries, and it is an absolute honor to have you with us again—it really is. What is on the schedule for our 30-minute time together today?
- Today we are going to kick off our Your Finances in Perilous Times Radio Seminar—it’s going to be a great way for you to start out 2023 and it’s coming your way in just a couple of minutes.
- Plus you are in for some great teaching from Dave Ramsey and John Maxwell,
- And, a home-buying credit score tip from Clark Howard..
So stay tuned, won’t you. It is going to be a great time together. As we start, let me pray for us. Father, thank You for meeting with us again today. Please give us ears to hear all that it is you have planned for us, to Your glory, in Jesus’ mighty name, amen.
Your Finances in Perilous Times Radio Seminar
During our Your Finances in Perilous Times Radio Seminar together, you are going to learn what God has to say about how you are to best manage the material areas of your life in ways that are pleasing to Him. You will not only learn to combine key biblical financial principles along with some critical, scriptural applications, you will also take a good look at some Jewish history, learn some Greek, and along the way you’re going to pick up some hints on how to live with a whole lot less financial stress around the house.
Now, right off the bat, I have to tell you that this is going to be a fantastic time together, because God is going to do an amazing work in your heart. You are about to begin a journey of discovery. What the Holy Spirit is going to give you during this journey can absolutely, positively, and completely transform your entire spiritual and financial life.
And that’s going to be a great thing for you, because you, my friend, you are a unique part of the body of Christ. Did you know that? Did you know that data shows that fewer than 10% of the Body of Christ will ever step out and take the time and make the effort and even the sacrifice to learn and apply what God’s Word has to say about how to handle money? This means that more than 90% of the other folks in the Body of Christ will sadly, never be able to truly enjoy financial freedom God’s way.
But just because you are unique, well, that doesn’t mean you’re going to have it easy. Oh no.
- For example, if you are just getting started, listen, if you are just getting started in your adult professional life, then you need to know that you are in for some tough financial times. As the matter of fact, the data shows that for every 100 people who enter a career today, well, by the end of that career
- 5, only 5 or 6 are going to be financially independent,
- 15 or so, will have some money,
- And 80 will be dead, broke or dependent on their family.
- So, if you are just starting out, my friend, you are headed into some perilous financial times.
- But maybe that’s not the case with you. Maybe you are not just starting out. Maybe you’ve been around for a while. If this is the case, then you already know that these are truly perilous financial times. Right? For example you have already seen that
- Home values are going down and foreclosures are going up.
- You already know that many savings and retirement plans have been wiped out as the stock market and the value of the dollar continues to fluxuate.
- You have seen vanishing credit and fluctuating gas prices.
- You know that food prices are going up.
- Some folks are having their hours and wages cut back while others lose their jobs altogether.
- There are more personal bankruptcies today than ever before.
- And perhaps you or someone you know are seeing your healthcare costs go up or your benefits erode or vanish completely.
The bottom line is this:
- Whether you are just starting out or you’ve been around the block once or several times, you are here right now so you obviously want to learn to handle your money wisely and do it God’s way. But remember; only about 5-6% of the folks will ever make it there. Well, the good news for you is this: during our time together you are going to see how you can become one of those 5-6% AND how you can become a tool to help bring others along with you as well.
- The Holy Spirit is going to show you how you can earn, give, save and spend more than you ever dreamed possible, and, how you can do it in ways that are pleasing to God.
Now, you are not only unique, you are truly the exception to the rule. Did you realize that? You are here, that means you have a desire and you are following through on meeting that desire. That makes you an exception in the Body of Christ and that makes you an exception in the world today. You are the exception, you are not the rule.
How so? Because most everyone wants to change. So, what do they do? Well, most everyone will set some goals to change. But most of the time most folks do not change. Why? They don’t follow through on their goals.
- Why is that? Because most people, most of the time, simply don’t do what they know we need to do. They know what they need to do, they just don’t do it.
- Why? Because doing and not doing is more a spiritual deal than anything else. It’s a spiritual deal. Paul says in Romans chapter 7: I do not understand what I do. For what I want to do I do not do, but what I hate I do. Paul goes on to say that basically if you don’t do what you know you should do it’s because of the sin in your life. It’s a spiritual deal. You see, if the spirit that is in you is comfortable with sin, it’s not the Holy Spirit. How can you tell if the Holy Spirit is not leading you, when you are comfortable with sin, when you tolerate sin in yourself and in others?
- You see, everyone has good intentions—but you know what they say about the road paved with good intentions, right?
- But more often than not, when most people start off and they set and want to follow through on some goals, they likely end up taking a break and spending some quality time on that wonderful fantasy island called Someday Isle…
Have you ever been there? If you have, then you can look back and see that the Holy Spirit was not leading you when you ended up on Someday Isle, because you ended up there by saying something like…
- Someday…I’ll read that book.
- Someday…I’ll start that exercise program.
- Someday…I’ll upgrade my skills so I can get a better job.
- Or, someday…I’ll learn and start to do all the things that I know I need to do to move from where I am to where God wants me to be financially.
You know what? Those who keep numbers tell us about 80% of the population live on Someday Isle most of the time.
- And while they’re there, what do you suppose they do? For the most part they sit around and they think and they dream and they fantasize about all the things they are going to do, and what’s its going to be like… “”
- And what do you think is the main topic of conversation on Someday Isle? Excuses! Everyone sits around all day and swap excuses for being on the island. They play the blame game. And they learn to play it very well. Why? Because they truly believe everything is always somebody else’s fault, especially, particularly when it comes to the area of finances.
- You’ve heard this…It’s my parents fault that I’m in this mess…my wife’s fault, it’s my husband’s fault, it’s the government’s fault, or even sadly, it’s God’s fault. I mean, “Even the dog barks wrong at my house and it’s anybody’s fault but mine.”
- Now, you know what, Adam—like in Adam and Eve—I got to believe that Adam had to have been the very first one to ever show up on Someday Isle. You see, Adam was the very first to play the blame game, right? When Adam found out he was in deep trouble with God, he looked at God and said something like, “God, this woman you gave me did this.” You know, sadly, Adam was only the first to face his problems like a true man: he blamed his wife.
- The fact is, from Adam down through all of time, people get to Someday Isle because their life is an endless litany of excuses. Do you know what we find? We find that there are basically only two different kinds of people: those who make good and those who make excuses.
- You see, everyone on Someday Isle has the same disease, its call “excuseits.” And this disease of excuseitis is invariably fatal to success, particularly success.
- Well my friend, starting today—starting right now…
- You are going to learn to quit making excuses and make good. You see, you are a child of God. God does not manufacture junk, and he does not sponsor flops.
- You are going to learn to draw a spiritual financial line in the sand and say, “I’m not compromising another day. I’m not giving in one more time. Financial victory is going to be mine starting right now, in the name of the Living God.
- You are going to quit looking at who’s against you and start thinking about Who’s with you—you see my friend, God wants to make a difference in your life including in your financial life.
- But a word of warning here—listen to me. To achieve something that you have never achieved before, you may have to learn and practice qualities and skills that you have never had before.
- During our time together you are going to lean essential biblical financial disciplines required for you to prayerfully build your personal financial character and your personal financial personality.
Do you know what God is calling you to do today? Or better yet, do you know one of the many things you are going to be able to do during and after our time together? My friend, God is going to spiritually and financially equip you to vote yourself off Someday Isle once and for all.
No more excuses! Listen, losers make excuses; winners in Christ make progress. During our time together you are going to make some serious spiritual and financial progress.
During our times together you are going to learn what God has to say about how you are take care of, how you are to best manage the material areas of your life and you are going to learn how to do it in ways that are pleasing to Him.
How are you going to do all of that? By prayerfully learning to blend the spiritual and the financial in ways you may have never experienced before. For example,
- You will not only learn to combine key biblical financial principles along with some critical, scriptural applications.
- You are also going to take a good look at some Jewish history and some Jewish word pictures.
- You are going to
- learn some Greek,
- You are going to hear some true stories about challenges and lessons learned,
- You are going to have some fun, and
- You are even going to get to know Rex our Roman soldier friend here and see what in the world he has to do with your personal finances.
- And along the way, well, along the way you’re going to also pick up some hints on how to live with a whole lot less stress around the house. Now, do you need a hit or two on how to live with a little less financial anxiety and stress?
All right, you’re at the right place at the right time to start down the road to financial freedom God’s way. But you’re going to start this journey in a way I know you don’t expect.
- During your very next session, you are going to take an aerial view of God’s perspective on money and financial material management. And again, it’s going to be a view that you likely will have never seen before.
- You are going to consider the three questions, three questions that God asks of anyone who ever chooses to love and serve Him; who choose to make a material and a financial difference in the Kingdom of God.
- You are going to see how He asked these three questions to folks back in Bible times,
- And how He is asking these same three questions to you, today.
- Soooo, your journey down your personal road to financial freedom in 2023 is off and running. Please don’t miss a single program.
I have to believe that you are already familiar with Mr. Dave Ramsey—you already know he is a personal money management expert, radio personality, and a prolific writer. It’s been my great pleasure to be part of Dave’s team of Certified Financial Coaches since 2004. What you may not know is that beginning in 2023, we’re going to regularly hear from Dave on this program. So let’s get right to it and see what Dave has for us today.
Now, that’s a good word. Most of the time folks need help to work more to make more, but once you are mostly out of debt sometimes you can be in a position of not having to work as much. But to prayerfully move to get out of debt and grow to create some space—some margin in your life takes time, takes skill, and it’s likely to take some help. The good news is that there is help out there and one of the best places to start is to get in contact with the Dave Ramsey organization at www.ramseysolutions.com. That’s ramseysolutions.com. Thanks Dave for another great word of encouragement.
Minute with Maxwell
- I really love this segment—it’s time for a Minute with Maxwell. Remember that each time we are with this Christian author, speaker, and coach, John will share his insight into a single word—and that insight can really add a great deal of value to us in every area of our walk with the Lord. Today’s word is Try.Great word for today from John Maxwell. And boy or boy does it apply to your prayerful journey down the road to Financial Freedom God’s Way. If you choose to just “try” to learn and apply Bible-based financial principles and applications, well, it really does come across as a half attempt and if it gets too hard or takes a bit too much time, well then, it’s okay to give up—to go back to your financial journey the way it’s always been. That’s how the word “try” comes across. My friend, this should never be the case! As the Lord and you start and then continue to do finances His way, simply remove the word “try” from your vocabulary and prayerfully replace it with “Yes He and I can” or better yet, “Yes He and I will.” He and you can do it, we’re here to help
Consumer tip from Clark Howard
- Now, this radio seminar segment leads nicely into our first consumer tip from Clark Howard having to do with your credit score if you are looking to buy a home.
- First of all, just who is Clark Howard? He is a leading consumer advocate and money expert, who has been sharing practical advice to help people save more and spend less, for more than 30 years. He knows what he’s talking about as demonstrated by the fact that he retired at age 31. You can listen to his nationally syndicated radio program or check him out at clarkhoward.com. I’ve been listening to him for years.
- Now, as you know, there are a whole lot of folks who live in our area and even those who would like to live in our area, there are a lot of folks thinking about buying a home here in the mountains. In order to buy a home, your lender is going to check your credit score. But different lenders have different requirements. Naturally, the higher the score the better your terms.
- However, different lenders require differing scores. For example,
- Conventional loans have tougher requirements, so these loans are generally appealing to those who are in a good place financially. If you want the best rates, then a conventional loan is the place to start. To qualify for a conventional loan you generally want to have a score of 680 or above. If you are in the 700’s, so much the better. Having said that, you may find some conventional lenders that allow a 640 score or maybe even as low as 620. Generally speaking, if you are looking at a conventional loan expect to have a score of 680 or higher.
- Then there are Federal Housing Administration (FHA) loans that require a 580 score. If you have a score below 580 you may still qualify for a FHA loan if you put 10% down.
- So, you have conventional loans, FHA loans, and you also have Veterans Affairs loans or VA loans. Now, the VA is not a direct lender so they don’t set any minimum credit score requirements but their partner lenders generally look for a 620 credit score.
- Then finally you have United states Department of Agriculture or USDA loans. These loans generally have no credit score requirements but you’ll receive better interest rates with a score in the high 600s.
- Here’s a final thought. The credit score you need to buy a house varies by lender and by which mortgage loan program you use. Generally speaking, the higher your score, the better off you’ll be. If you have at least a 760 credit score, you should get the top rates. If that is not realistic for you right now, shoot for at least a 700 score. You won’t get the top rates, but you will still save a lot of money over the long run.
- As a side note you can go to clarkhoward.com to see some great ways to improve—legally improve your credit score.
Okkkkk, that just about wraps up our time together for today. Recall, .
- You took your first steps down the road to financial freedom God’s way as we worked our way through the introduction to the Your Finances In Perilous Times Radio Seminar. Remember you discovered that you are unique in the fact that you can avoid time on Someday Isle. During our next time together you will discover the three questions God’s asks of anyone who ever chooses to love and serve Him; who choose to make a material and a financial difference in the Kingdom of God. You are going to see how He asked these three questions to folks back in Bible times, and how He is asking these same three questions to you, today.
- Then you received some great teaching from Dave Ramsey to help you see how it’s possible to lower your income to help create some more space or margin in your life.
- John Maxwell talked to us about removing the word “try” from our vocabulary.
- And finally, you learned from our consumer advocate friend Clark Howard some of the ins and outs of working with your credit score if you are planning to buy a home.
My friend, thank you for being with us today. Remember to check out our website at www.christianfinancialministries.org. Now, why would you want to do that? So glad you asked. On our website at www.christianfinancialministrieis.org you can first of all either re-listen to or get a transcript of this program, you will soon see a schedule of our seminars and workshops and music events you can enjoy at our Hiawassee ministry and event center. Our upcoming seminars and workshops include how to prepare to become a surviving spouse and how to raise money-wise children God’s way. All of that and a whole lot more at our website at www.christianfinancialministries.org.
Now, that does wrap up our time together which means it’s time to close in prayer. Father, we thank you for bringing us together today and for each of the days to come to Your glory in Jesus’ name. Amen.
Have a blessed rest of your day, won’t you, and we will see you next time as we continue down your personal road to Financial Freedom God’s Way.