7 Steps to Financial Freedom
1 Corinthians 4:2 NIV
Now it is required that those who have been given a trust must prove faithful.
Matthew 25:23 NIV
His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
STEP 1. Get A Plan For Your Money - Budget Each Month
Proverbs 21:5 NIV
The plans of the diligent lead to profit as surely as haste leads to poverty.
Luke 14:28 NIV
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?
STEP 2. Save a Beginner Emergency Fund
Proverbs 21:20 NIV
The wise store up choice food and olive oil, but fools gulp theirs down.
STEP 3. Get Out of Debt - The Borrower Is Slave To The Lender
Proverbs 22:7 NIV
The rich rule over the poor, and the borrower is slave to the lender.
Proverbs 6:1-5 NIV
My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, (2) you have been trapped by what you said, ensnared by the words of your mouth. (3) So do this, my son, to free yourself, since you have fallen into your neighbor’s hands: Go—to the point of exhaustion—and give your neighbor no rest! (4) Allow no sleep to your eyes, no slumber to your eyelids. (5) Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.
STEP 4. Save a Full 3-6 Month Emergency Fund
Proverbs 6:6-8 NIV
Go to the ant, you sluggard; consider its ways and be wise! (7) It has no commander, no overseer or ruler, (8) yet it stores its provisions in summer and gathers its food at harvest.
STEP 5. Invest for the Future
Matthew 25:19-21 NIV
After a long time the master of those servants returned and settled accounts with them. (20) The man who had received five bags of gold brought the other five. ‘Master,’ he said, ‘you entrusted me with five bags of gold. See, I have gained five more.’ (21) “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
STEP 6. Steward God's Blessing
Proverbs 24:27 NIV
Put your outdoor work in order and get your fields ready; after that, build your house.
STEP 7. Build Wealth, Be Incredibly Generous and Leave A Legacy
2 Corinthians 9:7 NIV
Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.
Proverbs 13:22 NASB
A good man leaves an inheritance to his children’s children.