Strapped: Where Do I Start?
When you go to the doctor, the first thing he does is examine you. He will ask you a series of questions and look at your vital signs to try to diagnose your condition. You would not want a doctor to write you a prescription without first determining your sickness.
In the same way, the first thing you need to do is to determine your financial situation. One of the most effective tools to diagnose your financial situation is a financial profile.
A financial profile is a snaphot of your assets, expenses, debts, etc. It gives you your total net worth. This is very important. Before you can get better, you have to have a clear picture of your financial situation.
On the financial profile you list all of your souces of income and everything you own. It creates a total list of your assets. Also, this sheet lists what you owe. The debt, the interest rate % (pay close attention to this) and your monthly payments. Finally, the profile lists two categories that people often overlook: what you give and what you save. It's important that you continue to save and give, even when you are getting out of debt. People who are savers and who are generous, are the most wealthiest people in the world.
You can download a copy of a Personal Financial Profile by clicking HERE. You can input your numbers and save it to give you a financial snapshot. From time to time, you should update this to help you assess your financial situation.
Most people need help with their finances and I want to let you know about two opportunities.
First, Sunday, October 5th, I will begin a new series of messages "Strapped." This series is designed to help you become financially free.
Second, our church is going through Dave Ramsey's book "The Total Money Makeover." I will be leading a class on Sunday night at 7pm at the church. There are other classes offered as well. I cannot emphasize how much this book can help you. It has been used by millions of people to help them get out of debt. Reply to the email to sign up for the class or to ask me any question, you may have.
Be looking for your next email in a couple of days that will help you develop a spending plan. (Budget - It's not a bad word.)
Pastor Rocky Taylor
PS: Click HERE to download a flyer for the Stapped series.