Financial Basics

GIVING: Its important to give to God first before anything else. 
Think of the Widow who gave her last penny, Mark 12:38.
Proverbs 3:9 "Honor the Lord with your wealth, with the first fruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine."

Financial Pyramid

Step 1: Foundation: Term Life Insurance, Emergency Fund
Money Market- best rates at: http://www.bankrate.com/kip/ (much better rates than savings accounts)
Example: www.GMACBank.com, 2.71% interest, no minimum investment
Basic: Get $1,000 for emergencies only. Recommended- 3 to 6 month of expenses.
Also: Life Happens Fund- for helping family, car repairs, etc.
Joseph- 7 years of plenty, 7 years of famine

Step 2: Stronger footing:
Proverbs 22:7- "The poor are always ruled over by the rich, so don't borrow and put yourself under their power"
(not anti-credit- but I’d much better to be making interest than paying it)
Lowering or getting out of debt- Krista
Know what you owe; Make a list of outstanding debts

Step 3: Planting seeds for the future:
Proverbs 13:22- "A good man leaves an inheritance to his children's children."
JACOB & TRISTAN STORY- A Tale of Two College Kids
Kids college funds: www.collegesavingsiowa.com $25 minimum investment
www.upromise.com A percentage of purchases goes into your kids college fund- Publix, Krogers, online shopping, etc

Retirement: Basics- Index Funds track the market- Vanguard, Fidelity, etc. IRA/401k

Big Purchases- Pay for your car before you buy it:
Luke 14:28 "For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it?"
$15,000 car, paying 10% interest rate, over 48 months. With interest, the car will cost you $18,261.06
$15,000 car, saving at 2.5% interest rate, over 48 months. Subtract interest, the car will cost you $14,221.90
Exact same car, $4,039.16 less.
Once you pay for your car, keep making payments into a money market fund.

Recommended books:
Ron Blue: Mastering Your Money
Dave Ramsey: Financial Peace

Classes:
Crown Financial, Financial Peace