Financial Stewardship

8/3/2019 Financial Stewardship

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.SESSION 4: STEvVARDSlilP OF TREASURESFinancial Stewardship Principles

SE ssio n G o als :

1. Identify guidelines for Earning, Giving and Debt (definition, purposes andpitfalls).

2. Know Biblical examples of Savings(recommended) and Investments(completing an estate checklist).

3. Evaluate budgeted expenses (when and how to use credit cards).4. Make financial goals (short and long term goals, personal financial

statement).

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I . EarnineWhat kind of attitudes should we cultivate with regards to earning?

A. Be _ - L # 0 A _ : _ . : . . . _ ! . ' _ ~ _ . _ - in all your ways. Do not cheat others.

You shall not steal, nor deal falsely, nor lie to one another.(Leviticus 19: 11 )

A bribe is anything given to a person or an entity to influence him/them todo something illegal or wrong.

A wicked man receives a bribe from the bosom to pervert the waysof justice. (Proverbs 17:23)

"You shall not take a bribe, for a bribe blinds the clear-sighted andsubverts the cause of the just. (Exodus 23:8)

B . Work as----------------He gives skills, success and promotions. Do not overwork.

23Whatever you do, do your work heartily, as for the Lord rather thanfor men, 24knowing that from the Lord you will receive the reward ofthe inheritance. It is the Lord Christ whom you serve.(Colossians 3:23-24)

But you shall remember the LORD your God, for it is He who is givingyou power to make wealth, tha!_!!e may confirm His covenant whichHe swore to your fathers, as it is this day. (Deuteronomy 8:18)

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C. Do not enter into ~#~)J with those who do not----------~~--------share your spiritual convictions.

Do not be bound together with unbelievers; for what partnership haverighteousness and lawlessness, or what fellowship has light withI

darkness? ( 2 Corinthians 6:14)

I I . Givinel' ,

'"A . What kind of attitudes should we cultivate with regards to giving?

. . . J 8 e ( i ! i j 7 and not a burden.. Giving should be a2. Give to the Lord __ A i _ & - you can give.3. Give to God __ ! 7 _ - ; , _ ~ _ W _ - - - - - , - _ and foremost. ~4. Give at least ==-_ of your income.5. Giving is an act-:_:o:;..:..f==M=~_ ;o ,---_- __6. Giving is our __ f } _ ~ _ M _ ~ _ ( i I ! _ ,_ _ _ _ _ _ " , - - -' \v\.,.7. Giving t fel1_ \ A _ ~ _ _ _ _ , , " ' _ _ _ _ the work of God in our financial

affairs.

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B. Purposes of Giving

1. To Monor to the Lord."Honor the LORQ from your wealth and from the first of all yourproduce." (Proverbs 3:9)

2. To J04>. . / /Lg" for the Lord's Work.

Bring the whole tithe into the storehouse, so that there may be foodin My house, and test Me now in this," says the LORD of hosts, "if Iwill not openfor you the windows of heaven, and pour out for you ablessing until it overflows. (Malachi 3 : 1 0)

3. To _ - - - : : : - ; ~ c = 7 " ~ . , . . ' f J v ( the Lord's Faithful ness.7Bt7Bring the whole tithe into the storehouse, so that there may be foodin My house, and test Me now in this," says the LORD of hosts, "if" " " ' tI will not open for vou the windows of heaven, and pour out for you a

( -b.lessing until it overflows. (Malachi 3: 1 0). . . . .\I : \ V ' ) .") .

4. To practice our ~ _ O / . ! . . _ _ in the Lord."Delight yourself in the Lord; and He will give you the desires of yourheart." (Psalm 37:4)

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C. Promises to those who Give

1.

Bring the whole tithe into the storehouse, so that there may be food inMy house, and test Me now in this," says the LORD of hosts, "if I willnot open for you the windows of heaven, and pour out for you ablessing until it overflows. (Malachi 3:10)

2.

"Then I will rebuke the devourer for you, so that it may not destroythe fruits of the ground; nor will your vine in the field cast its grapes,"- - - - - - -ays the LORD of hosts. ", (Malachi 3:11)

3. Personal __ 7 b = _ [ S 7 I _ / # o _ ' I J 1 _ . _ . ~---L... _

"All the nations will call you blessed; for you shall be a delightfulland, " says the LORO of hosts. (Malach i 3:12)

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GLOBAL LEADERSHIP CENTER

III. DEbtA. What is Debt?

The Dictionary defines it as:

B. / J 1 A J_ N J debt. Get out of it quickly.b_ ~ 6 t Jrrt>U",'tl-r~/~' Debt is a form of slavery and it hinders our service to and for the Lord.

The rich rules over the poor, and the borrower becomes the lender'sslave. (Proverbs 22:7)

Owe nothing to anyone except to love one another; for he who loveshis neighbor has fulfilled the law. (Romans 13:8)

C. Pitfalls into Debt

1. Buying or spending ~ your budget limit.

2. __ ~ purchases and unwise investments.

'But if any of you lacks wisdom, let him ask of God, who gives to allgenerously and without reproach, and it will be given to him. "Bu: hemust ask in faith without any doubting, for the one who doubts is likethe surf of the sea, driven and tossed by the wind. (James 1:5-6)


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3. Lack of __ 4_~__ ' / - _ ~ _ ~ for the future. (~4. Loss of a job; illness or injury.'y~\

Debt is financial and spiritual bondage.

D. You know that you are in debt when you ..."

1. Can't completely pay your bills.

2. Start putting off payment of one bill in order to pay another.

3. Become worried about how you will pay all your bills.

4. Start looking for quick fixes or quick ways out of your debt.

E. Putting Debt to Rest

~fess, repent and pray.

(}JAure out what you owe.

3. Establish an appropriate repayment plan:' We must pay as promptlyas we can. \. . . . . ...) Persuading Creditors re: Debt

2700 not withhold good from those to whom it is due, when it is in yourpower to do it. 2800 not say to your neighbor, "Go, and come back,and tomorrow I will give it, ' " when you have it with you.

, (Proverbs 3:27-28). ,CHRISTS COMMISSION FELLOWSHIP


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4. Determine to stop/eliminate the _"_~_._~ of debt.

5. Be constantly __ A-_~ f I ! _ / ; ) 6 to someone ...f~ 1/J1/I ' Id tY~7F. When can we owe money?

1. The item purchased is a.2?:~et with the pote9.Iial to appreciate or~~ ~,r~produce an income. ~ ~

2. The value of the item equals or exceeds the amount owed against it.

3. The debt should not be so high that repayment puts undue strain onthe budget.

G. Privileges of Being Debt-Free

1. God's & your __ +ft0_ rt_ ~_ ----'f--_ _ is honored.2. We are ? /ZB8 to serve God.3. Physically, emotionally, and relationally __ ~__ . _ 7 / 1 ' / - < - - \ , - -.'--4. More f J~I I1 f !7Y/ l-------~---

( jAJr : tGd / ~ ; r r Y t leo,,~.. AvoidHe who is a guarantor for a stranger will surely suffer for it, but hewho hates being a guarantor is secure. (Proverbs 11 : 15 )

A man lacking in sense pledges and becomes guarantor in thepresence of his neighbor. (Proverbs 17:18)


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341fyou lend to those from whom you expect to receive, what creditis that to you? Even sinners lend to sinners, in order to receive backthe same amount. 35But love your enemies, and do good, and lend,expecting nothing in return; and your re~ard will be great, and youwill be sons of the Most High; for He Himself is kind to ungrateful andevil men. (Luke 6:34-35)

I. If you lend ~ someone do not expect to be repaid. aVGYrather than lend (for needs only).

IV . SaVE, ,/.

How can we properly save?

A. Consistently and intentionally save __ I _ ~ _ %_ of all income for futureinvestments. Start now!

The plans of the diligent lead surely to advantage, but everyone whois hasty comes surely to poverty (Proverbs 21:5)

1. Biblical Example: THE ANT

The ants are not a strong people, but they prepare their food in thesummer; (Proverbs 30:25)

2. Joseph Principle

Commended for saving for future needs Joseph saved grain (food)during the seven years of plenty to survive during the seven years offamine. (Genesis 41) I



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3. Savings requires discipline, ~ a 'e;vJ ..R / ~ ~ .There is precious treasure and oil in the dwelling of the wise, but afoolish man swallows it up. (Proverbs 21:20)

B . Set up an __ e : _ ! Y 1 f ~ I 2 . L . ~ _ f M _ ~ ~ f f l _ . _ ~ L - totaling six monthsof your monthly living budget.

nor did we eat anyone's bread without paying for it, but with labor andhardship we kept working night and day so that we might not be aburden to any of you; (2 Thessalonians 3:8)

V . InvEstnlEntWhat are some important considerations on investment?

A. Avoid - - - - ' 0 _ /J1_fft~f_--v and ungodly investments.~Mij13Thereis a grievous evil which I have seen under the sun: riches beinghoarded by their owner to his hurt. 14When those riches were lostthrough a bad investment and he had fathered a son, then there wasnothing to support him. 15Ashe had come naked from his mother'swomb, so will he return as he came He will take nothing from the fruitof his labor that he can carry in his hand. (Ecclesiastes 5:13-15)

Divide your portion to seven, or even to eight, for you do not knowwhat misfortune may occur on the earth. (Ecclesiastes 11:2)

B. Organize your estate today! Complete an estate checklist.48


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VI. B Ud gEtEd Ex pEn SES

A . Set up and live on a / l C J J , ; t l t : : f ' l C budget.

B. Live on a ~ M t : .# basis. If you use credit cards, use them toyour advantag~~>70r emergencies only.

r > ,- . ""1. I"

1. Use your credit card only for budgeted items

2. Pay your credit card balance every month

3. Destroy your cards if you cannot control overspending

D. Benefits of Credit Cards - _ -1. Identification2. Convenient I Safe substitute for cash

3. Holds a hotel reservation, car rental

4. Automatic record keeping

5. Easy installment purchases wi no interest. .'



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6. Free promotional gift items

7. Consolidates many purchases into one bill

8. Orders placed by mail, phone or computer

9. Good for emergencies

10. Helps establish credit standing for the future

E. Dangers of Credit Cards "~'\\~~'\~ w'i"~\ '


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(Hebrews 13:5)

V II. Fin an cia l G o alsMake a list of short term and long term financial goals for your future.Make a Personal Financial Statement.

Conclusion

The goal of Financial Stewardsh ip is __ _ . , r k t " - - - - - - ' ' - ' ? h J i J _ ' - - ' ' e . . J L . . j ' - ' I I 1 _ ~ . : : . . . . - - - ' - V _36"Forwhat does it profit a man to gain the whole world, and forfeit hissoul? 37Forwhat shall a man give in exchange for his soul?

(Mark 8:36-37)

A . THE SECRET of CONTENTMENT

1. Knowing and doing what God requires of a faithful steward and trusting-----...::that God will do His part as He has promised.

2. It is right to be content with what you have but never with what you are.- - -....___.,.3. Contentment leads to an inner peace that accepts what God has chosen

for our present vocation, station in life and financial state.

Make sure that your character is free from the love of money, beingcontent with what you have; for He Himself has said, "I WILL NEVERDESERT YOU, NOR WILL I EVER FORSAKE YOU"

4. Contentment is wanting what you have.

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5. Believing that God is completely sovereign over your life situation andneeds.

"Not that I speak from want, for I have learned to be content inwhatever circumstances I am. I know how to get along with humblemeans, and I also know how to live in prosperity; in any and everycircumstance I have learned the secret of being filled and goinghungry, both of having abundance and suffering need. I can do allthings through Him who strengthens me. JJ (Philippians 4:11-13)

"For from Him and through Him and to Him arethe glory forever. Amen. JJ (Romans 11:36)

B. THE PROCESS of CONTENTMENT

1. Live with an Eternal ---------------------

24Byfaith Moses, when he had grown up, refused to be called theson of Pharaoh's daughter, 25choosing rather to endure ill-treatmentwith the people of God than to enjoy the passing pleasures of sin,26considering the reproach of Christ greater riches than the treasuresof Egypt; for he was looking to the reward. (Hebrews 11:24-26)

2. Live above your ~_~_'i,_'{,_~_ _;~,--- _

I know how to get along with humble means, and I also know how tolive in prosperity; in any and every circumstance I have learned thesecret of being filled and going hungry, both of having abundanceand suffering need. (Philippians 4:12)

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Ifnu/C:;-3. Live through __ - - = V : . . . . . . . . : . . . . I 7 _ / C - _ d _I _

"For to me, to live is Christ ... " (Philippians 1:21a)

Don't Trust in MONEY

It can buy a House, but not a Home.It can buy a Bed, but not Sleep. /It can buy a Clock, but not Time.rIt can buy you a Book, but not Knowledge.It can buy you a Position, but not Respect.It can buy you Medicine, but not Health.It can buy you Blood, but not Life.It can buy you a good life, but not eternal Life.It can buy you a crucifix, but not a Savior!

Always remember that God's perspective of success is having spiritualriches, not worldly riches. Our goal should be faithful stewardship.

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Appendix APersonal Financial Statement

In this financial seminar it is so important to get a clear picture of where you arefinancially.Do you know where you stand financially?We a" need to start our financial fix up program first knowing where we are.A personal financial statement is the answer. It is really a simple balance sheet.It is not necessary to be precise to the centavo; rather, estimate the value of each of yourassets and the amount of each liability or debt you still owe and find out your net worth.This statement is strictly for you to establish your present financial position today.It is strictly confidential. Use this whole week together with your wife (if you are married)to prepare this statement.Wouldn't you like to know your financial position?We recommend that you revise your personal financial statements at least once a year tohelp keep you in tune with your financial progress.



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GLOBAL LEADERSHIP CENTER- -_-

_ f li ~~~~ ...- -!II -__ _ __ J

Date _

Personal Financial Statement WorksheetASSETS (present market value)

Cash on hand / Checking accountSpecial savingsStocks and bondsCash value for life insuranceHomeOther real estate propertiesJewelryVehiclesFurnitureAppliancesComputerAntiquesPaintingsCollections (coins/stamps etc. )Sports equipmentMoney Market placementsPension / Retirement / SSSOther personal propertyBusiness valuationEducation PlanMemorial PlanOther assetsOther assetsOther assets

TOTAL ASSETS:

LIABILITIES (current amount owed)Current billsCredit card debtAutomobile loansHome mortgageOther real estate mortgagesPersonal debts to othersBusiness loansEducational loansMedical billsLife insurance loansBank loansOther debts and loans

TOTAL LIABILITIES:

NET WORTH: (total assets minus total liabilities)

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Appendix B

Financial GoalsIt is easy to go through life without setting any goals. The problem with that is that whenlife is almost over we will look back and ask ourselves "what did I live for", "what did Iaccomplish", and "what did I miss out on doing?"

"Most people don't plan to fail, they just fail to plan. 11Why set goals? Goals provide direction and purpose. They are finish lines. When you set goals, your

choices for activity become purposeful. Otherwise, circumstances, other people, andfeelings determine where you wind up.

Goals help you crystalize your thinking. If you aim at nothing, you will hit it everytime. When you set a goal, you tend to focus your thinking on what you want toaccomplish. This is why goals should be written, rather than merely thought or talkedabout. A written goal gives you an instant focus and reminder.Goals provide personal motivation. It engages all that you are, all that you stand for,and all that you strive for.

The Responsibility for PlanningWithout planning based on biblical values, goals, priorities, and money becomes a hardtaskmaster and, like a leaf caught up in a whirlwind, we get swept into the world's pursuitof earthly treasures (Luke 12:13-23; 1 Timothy 6:6-10).Financial planning is biblical, it is a means to good stewardship, provides freedom fromthe god of materialism, and a means of protection against the waste of resources God hasentrusted to our care (Proverbs 27:23-24; Luke 14:28; 1 Corinthians 14:40).Financial planning should be done in full dependence on God's direction and in faith whilewe rest in Him for security and happiness rather than in our own strategies (Prov. 16:1-4,9; Psalm 37:1-10; 1 Timothy 6:17; Philippians 4:19).

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Having goals provides us the motivation, helps us focus our efforts, and provides usrewards as we achieve them along the way.

Determining your financial goals will help you accomplish what is important to you.

Here's how to proceed:

1. Spend time with God. Seek His will and direction and He will respond by giving youthat direction. Pray for the Lord to confirm your goals. Do not limit yourself by yourpresent circumstances. Remember the division of financial responsibilities: God'spart and Our part. God's part is to meet our needs and dispense possessions asHe sees fit. Our part is to do what we can as faithful stewards. Many of your goalsmay be "faith goals" that we must trust the Lord to provide. Continually ask God,"What would You have me do?"

2. Complete the Financial Goals worksheet. If you are married, we recommend thatyou and your spouse individually write down your financial goals on separate sheetsof paper. Then compare goals and compile a complete list on the Financial Goalsworksheet. Couples should never set goals apart from or in disagreement with oneanother. Goals should reflect the direction for both the husband and the wife, not toone of the individuals in the marriage.

3. List your goals for the coming year by prioritizing them. For instance, fundingeducation might be more important than buying a house. Also, you don't have toaccomplish all your goals at once. For example, your budget may not allow you tosave for retirement until your children are educated.

4. One caution: Do not set unrealistic goals. It's better to accomplish three goalsin one year than to become frustrated with ten unattainable goals. Be sure toestablish a goal that is measurable, quantified by amount and date.

5. Take action. Faith is acting on the basis of what God wants you to do.

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Giving to God firstEliminating debtEstablishing an emergency fund (six months)Making large consumer good purchases (car, furniture, computer, etc.)Purchasing a homeEducational funding (College)Insurance planSecure retirementElder care funding

6. We should review our goals and keep changing them or setting new ones whenothers are accomplished. Never stop setting goals.

A goal is a statement of God's will for you. Goals are stated as future objectives,and only God lives in the future. So when you set a goal, you have implicitly madea statement that says, "God willing, I believe I should achieve the following ..."Otherwise, for a Christian, a goal is merely a presumption.

Common Goals

1.2.3.4.5.6.7.8.9.

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Financial Goals(sample)Giving Goals:Would l ike to give IIpercent of my income. Date Jan. 2000Other giving goals: Contribute P I ,0 0 0.0 0 to world missions fund over the next 6 months;P2,OOO.OOo help support orpbanage and needy children this year.Debt Repayment Goals:Would l ike to pa y off the following debts first:CreditorGenX CardRF.STcard

AmountP3,000.00P2,500.00

Educational Goals:SchoolU.P .L a S al le

PersonJuniorEdna

Year20132015

Annual CostP150,OOO.00P300,000.OO

Date6/200010/2000

Total CostP600,OOO.OO

PI,200,000.00

Other Educational Goals: Gloria (wife) would like to study to be an insurance agent.

Lifestyle Goals:Would like to make the following major purchases (home. automobile, travel, etc.)I temAdd another room to the houseReplace Gloria's CarReplace refrigerator

AmountP 50,000.00P 350,000 .00P 15,000.00

Date10 /200011/200012/2000


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Flnan(Ja! GoalsWould l ike to achie ve the fol low ing ann ual incom e: P 40 ,0 00 .00 1212000

Savings and Investment Goals:W ould like to save 10 pe rce n t or m y incom e . Date 2001O the r savings goals: Se t up an emerg ency fund by the e nd of ye arIncrease s av in gs t o 15 % w ithin the ne xt 5 years Date 2001Dale 2005Would like to milk.: the following investments:Re tirem e nt Fund starting 6/2000Mon ey m ark et p la ce m en t

Investment Amount DateP 3 ,000 .0 0 e ve ry ye arP 1 ,0 00 .00 m onthly

W ould l ike to p rovide my/our he irs w ith the follow ing: Fully p aid ho use , in su ra nc eco ve r a ge , e du ca t io n al fund

Starting a Business: Date Jan. 200 IW ould l ik e to inve st in or be gin mylour own busine ss: Ye s. Iwould l ik e to set up ahom e re pair im prove me nt busin ess w ithin the ne xt ye ar.

GOALS FOR THIS YEARIe lie ve the Lord wants me / us to achie ve the fo llow in g goals this ye ar:

Priority Financial Goals Our Part God's Part1 I nc re a se g iv in g W rite out che ek f rom incom e C ontinue to

p ro vid e m on ey2 Se t up e me rge ncy fund R e du ce s pe n din g G iv e w is dom

10 save3 B uy new car Se ll old e ar P ro vid e b uy er

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Appendix C

Debt ListThese two practical applications will completely free you from debt:I. Debt List

Many people don't know precisely what they owe. The debt list will assist you incompiling your debts and the terms of each debt. The seven columns on the debt listare as follows:

1. Creditor - The one to whom the debt is owed.2. For what - Item purchased with the money borrowed.

Put credit card if more than one item.3. Monthly payment - The amount of the monthly payment.

If payment is due more often than monthly, compute the total amount thatis paid each month. For example, a P200.00 loan payment paid twice eachmonth equals P400.00 per month.If payment is due less frequently than monthly, determine the averagemonthly cost. For example, a P600.00 payment paid twice a year wouldaverage P100.00 each month.

4. Balance due - The amount of the outstanding debt.5. Scheduled pay-off date - The date by which the debt will be fully paid.6. Interest rate - The rate of interest charged for the debt.7. Payments past due - The number of payments, if any, past due on each

debt.After entering each debt, add and total the monthly payment and the balance duecolumns.

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DEB T LIS T Date' _

1 ; ' : : : { : : ; ; : : ' ; " " , ~ < ~ ~ : t : t L > : ~ ; ScheduledI'U)':':~~"'" .\. Descrfbe What Monthly Balance Pay-oft Interest PaymentsWas;' Pavments Dul' Date Rate Past Due

: : H : F : : : : T . : : ' . ~

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Appendix DDebt Repayment Schedule

The next step is to complete a debt repayment schedule for each debt. This will helpyou be systematic in your efforts to get out of debt. There is a blank form in page 93that you can duplicate if you need more copies. Complete the information asked forat the top of each debt repayment schedule: the creditor's name, why the money wasborrowed, the total amount still owed, the interest rate charged for the loan and today'sdate. The debt repayment schedule has four columns:

1. Date Due - The day each payment is due.2. Payment amount - The amount of each payment.3. Payments remaining - The number of payments remaining.4. Balance due - The loan balance due after each payment.

Computation for Debt Repayment Schedule:(Assuming the interest rate is fixed)

Amount owed - Payment Amount + (Amount owed x Interest Rate) = Balance Due12 [months]Example:

35,000.00 - 1,500.00 + (35,000.00 x 15 % ) = 33,937.5012

33,937.50 - 1,500.00 + (33,937.50 x 15 %) = 32,861.7212


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B ib lic a l S tE \ Jvapds lli

DEBT REPAYMENT SCHEDULE

Creditor E~ A ~S> !....Y~B !...!A NK ~ _ D a t e _ - - - - " J ~ a n ~ u a r y = . . . I . _ ! . . l l , - - , = 2 ' - ' < . 0 0 0 = - _De~ribewhalw~p~h~d ~C~A~R~ _A mount Owed - '35~,_"'Q ~O Q~.0~O ~ _ Interest Rate __ . I ! ; . : 1 5 , " , o / ! ~ o _

9

PaymentsD ate D ue Payment Amount Remaining Balance DueJan. 10 2000 1,500.00 27 33.937.50Feb. 10 1 500.00 26 32861.72Mar. 10 1,500.00 25 31,772.49Apr. 10 1,500.00 24 30,669.65May 10 1,500.00 23 29,553.02June 10 1.500.00 22 28,422.43July 10 1,500.00 21 27,277.71Aug. 10 1.500.00 20 26,118.68Sep. 10 1,500.00 19 24,945.16Oct. 10 1,500.00 18 23.756.98Nov. 10 1,500.00 17 22,553.94Dec. 10 1.500.00 16 21.335.87Jan. 10 2001 1,500.00 15 20.102.56Feb. 10 1.500.00 14 18853.85Mar. 10 1 500.00 13 17589.52Apr. 10 1.500.00 12 16.309.39May 10 1,500.00 11 15.013.26June 10 1,500.00 10 13,700.92July 10 1,500.00 9 12.372.18Aug. 10 1,500.00 8 11,026.84Sep. 10 1,500.00 7 9.664.67Oct. 10 1,500.00 8 8.285.48Nov. 10 1.500.00 5 6.889.05Dec. 10 1.500.00 4 5.475.16Jan. 10.2002 1,500.00 3 4,043.60Feb. 10 1,500.00 2 2,594.15Mar. 10 1,500.00 1 1 126.57Apr. 10 1,126.57 0 0



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GLOBAL LEADERSI-tIP CENTE R

DEBT REPAYMENT SCHEDULE

___________ Dale __ ~Credi tor ----Descr ibe what was purchase d _Amount Owed _________ Inte re st Rate _

PaymentsDate Due Payment Amount Remaining Balance Due

~


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Appendix E

Organizing Your EstateI. Document Filing

Your first assignment in setting up your estate is to organize all your documents.After assembling them together, you should make clear photocopies of each oneand then store the originals in a secured storage (safety deposit box) accessible tocertain members of your family or legal advisor. The photocopies should also bestored in a safe place for easy reference.

Birth Certificates Marriage Certificates Wills-Power of Attorney Death Certificates Passports Citizenship Papers Title Deeds of Real Estate Properties Mortgages Leases Business Agreements & Licenses Funeral Service and Burial Instructions ~ Automobile Titles Company Retirement Policy Personal Documents (NBI Clearance, Driver's License, SSS, TIN, etc.) Insurance Policies (Personal, home, car etc.) Income Tax Returns (last 3 years) Credit Card company listing Computer Disks Asset Inventory (Workshop 2 Personal Financial Statement)

Add any other document you believe will be important for the future of your family.Make a list of all these documents and where they will be stored for safekeeping.

Note: Make an inventory of your safety deposit box and instructions to your familymember regarding the box number and location of the key. Set up authorization foryour family member to open the bank safety deposit box in case of emergencies.

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GLOBAL LEADERSI-tIP CENTER

II. Advisors ListingScripture encourages us to seek the counsel of godly people, Proverbs 11:14, "Wherethere is no guidance, the people fall, but in abundance of counselors there is victory."In this section you will prepare a list of those who are your advisors. Please identify thefollowing potential counselors:

Church Leader Attorney Accountant Financial Advisor Insurance Agent Real Estate Broker Banker

Add any other counselors you feel will be helpful to your family in the future.III. Future Income - InvestmentsIn this section you will clearly define and identify potential future income and investmentearnings your family can expect.Social Security benefits: Set aside the records and list of contributions you have madein the past for benefit claims to be made upon your death.Company Retirement benefits: If your company has a retirement policy or retirementbenefit plan for you, list the policy plan benefits (monthly or lump sum amount) andrequirements for compensation. Keep company records and policy together with importantdocuments. Identify company/department person and telephone number to contact.Savings: List all savings and checking account numbers and appropriate banks wheredeposits exist together with amounts and name of bank managers or contact persons.

Investments: List all investments (stocks, bonds, money market placements, funds,T-bills, etc.) that you have in your investment portfolio. Indicate the average estimatedinterest income for each one and the investment agent's name and address and tel. no.for future transactions.Insurance Policies benefits: Specifically stipulate expected insurance benefits andproceeds from policies. Identify insurance agent's name and contact tel. no. Regularlyupdate the beneficiaries and the values of all policies to be accurate and current for yourfamily's needs and budget.


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Business Income benefits: Should you own a business or be in a partnership, make certainyour beneficiary is personally aware of or has a trusted business advisor to inform themof all future income from the business and other specific interests.Note: For easy access to the above information, the beneficiary must always be namedin all policies and accounts.Note: To those who keep a lot of vital personal information on a computer disk, youshould give specific instructions for your loved ones to be able to access this informationfor future reference.

The purpose of this exercise is to establish the expected income your family may receiveimmediately after your death as a lump sum or what they may expect to receive on amonthly basis. Depending on your planning today, you can provide for your family ona long term or short term. Don't allow your hard work and investments to be wasted orneglected by not informing your family members of its existence.



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Appendix GStandard of Living

Determining Your Standard of LivingThe Bible does not prescribe one standard of living for everyone. Each individual'sstandard of living should be prayerfully determined. Write down a description of whatyou (and your spouse If you are married) determine is your God-given standard of livingafter you review your personal financial statement, financial goals, and budget.Example: Jun & Gloria's standard of living:As we have committed to follow God's principles for financial stewardship, we pray thatwe may be faithful in every area of "our part" and continue to trust God for His part. Aswe maintain our budget disciplines, we look forward to how God will fulfill His promisesin our life. We thank God for our standard of living today. We are truly satisfied livingin our present home (not moving to a larger more expensive home). We would like tofulfill the goal of adding another room within the year for the upcoming baby unless it isa girl, then she can share the room with her sister. We plan to increase our giving (up to12%) for God's work, paying off our debts in 2 years, concentrate on saving to providea good college education for our kids, and investing in life insurance for Jun, rather thanincrease our standard of living for the next fifteen years. We will keep our present carfor another 8 years and then purchase a used low-mileage car in excellent condition.We have decided to maintain a simple and more "classic" wardrobe rather than followingthe latest fashion trends. We also hope to help our children purchase their first car aftergraduating. It is our desire that all our spending habits will please the Lord. Aside fromcontinuing our service of leading a weekly cell group, we commit to get involved in full-time ministry with the church as soon as God makes a clear call in our lives.

102 . m . a = = = = = - ~


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My Standard of Living:

1CHRISTS COMMISSION FELLOWSHIP


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Appendix H

Personal Financial WorkshopSpending Plan (monthly)Monthly Income 8. EntertainmentIRecreationMonev husband br ings home Eabng OutMonev wife brings home ActMtiesITriDSOther Income Vacation

Other1. Total Income Total EntertalnmenVRecreationLess_{-)Tithes and Offfenngs 9. Clothing (monthly average'Taxessavinos 10.Medical Expenses

2. Net Spendable Income NSI . ' c : , ' : DoctorOenhst

3. Debt MedicinesCredit Cards (overdue) otherLoan Payments (other than house or car) Total Medical ExpensesOther Debts

Total Debl 11. MiscellaneousToiletries/Cosmetics

4. Insurance Beauty/BerberLife Insurance Laundrv/CleanlngMedical Insurance SubscriptionsOther Insurance payments Gifts (inCluding Chnstmas)

Totsllnsurance CashOther E.xpenses

5. Housing Total MiscellaneousMortgage (Rent)House Insurance 12. Allowances (Monthly Total)TaxesElectricitv 13. SchooUChlldcareGas LPG TuitionWater Materials (Books Supplies)Repairs TransportationPhonellntemet Total SchooUChlldcareMaintenanceOther Expenses 14. Other Exponses

Total HousingTotal E.xpenses_(Add all)

6. Food (Monthly Total)INCOME VS. EXPENSES

7. Transportation/Carla) Net Spendable Income i::{~:r}t:Monthly PaymenUBus Trips Less (-) ExpensesGas end 011ChangeInsuranceRegistrat ion or Tax 15. SURPLUS OR DEFICITRepairs

Total Transportation