This week’s session served as a review. Pastor mentioned that new material relating to matrimony and finance will be covered next week.
How Do You become Debt Free?
Step 1 Determine where you are.a) Write down all of your debts.
Step 2 Stop going into debt.
a) Stop spending and borrowing.
a) Stop spending and borrowing.
b) Cut the credit card up if you can’t control it.
Step 3 Develop a repayment plan.
a) Look over all your debts and draft a repayment plan.
b) Be committed to the repayment plan.
Step 4 Establish accountability.
a) Be accountable to someone that you respect, concerning your commitment to getting out of debt.
Step 5 Reward yourself.
a) Each time you pay off a bill treat yourself to something inexpensive. Pay with cash.
We covered the 4 basic principles that are required to live debt free.
(See Blog entry from 6/10/11)
1. To provide a better quality of life for your family.
2. To be able to help others in their time of need.
3. To sow more into the Kingdom.
4. To leave an inheritance to your children’s children.
A good man will leave a generational seed.
Good credit and a good name is the result of living debt free and
managing your finances properly.
1. Lower interest rate on a car loan and credit card
2. Home purchase or rental
3. Career opportunities/Clearance
4. Respect among your colleagues
5. Favor and opportunities for you and your family
6. Ministry opportunities
7. Avoid embarrassment during a credit check
Join us for our Worship Encounters Every Sunday Morning starting at 9:30 AM with prayer.
Also join us for Bible Study every Wednesday Evening at 6:30 PM with Prayer and Worship
For more information about our ministry, check us out online at
www.nlccministry.org
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