Crown Financial Ministries

How To Manage Your Money- An In-Depth Bible Study On Personal Finances. For more informatin click here

Prepare for the Journey
to Financial Freedom!
Ps 119:45 I will walk about in freedom,
 for I have sought out your precepts.

    The following steps will lead you to true Financial Freedom. Like any trip it starts with deciding to take the first step. It is a life long journey and many times you will take two steps forward and one step back.

    When my wife and I committed to go on this journey the goals seemed impossible. When we finally reached the point of paying off our home mortgage, we had the privilege and freedom of being able to send our children to a Christian School. Be encouraged, go ahead, take the first step!

1) Emergency Savings: Save $1000 for Emergencies.
Prov 21:20 The wise man saves for the future, but the foolish man spends whatever he gets.

2) Credit Cards Paid Off: Pay off the credit cards and increase savings to one months living expenses. Prov 22:7 The borrower is the servant to the lender.

3) Consumer Debt Paid Off: Pay off all consumer debt and increase savings to three month's living expenses. Romans 13:8 Keep out of debt and owe no man anything.

4) Save for Major Purchases: Begin saving for auto, home, retirement, children's education, or to start your own business. Prov 21:5 Steady Plodding brings prosperity

5) Buy Home & Begin Investing: Buy an affordable home, begin prepaying the home mortgage, and begin investing wisely. Eccl 5:13-15 Savings are put into risky investments that turn sour...the man who speculates is soon back to where he began...with nothing.

6) Home Mortgage Paid Off: Home mortgage is paid off, children's education funded, and confirm estate plan is in order. John 8:32 You will know the truth and the truth will make you free.

7) Final Destination: My retirement is funded and I am free to volunteer my time working for the Lord. Matt 25:21 Well done good and faithful servant

For a copy of Crown's Money Map [Click Here]

Too Much Month Left
 At The End Of The Money?

    The management of personal finances is an area that is always in need of attention. Some individuals use an envelope system, others a computer with a spread sheet or budgeting software.

    Developing a personal or family budget can be a challenging project. The information on this page is offered to assist in that process. The budget development process is broken down into 3 steps.

1) Gather the information needed to fill in the Monthly Income and Expense planner. This can be accomplished by gathering information from the checkbook and the receipts from paid bills. Keeping a 30 day diary of everything that you spend above $.25 will help you get a handle on Misc. spending.

2) Select the Income Guide that applies to your circumstances and work out what the average income bracket similar to your situation spends in the different Expense Categories.

3) Take the information from Step 1 and compare it to Step 2, then develop a budget that you can commit to for the next year. This is the step that requires the most work and a lot of prayer. The goal is to control spending, have a plan to reduce your debt, and set aside money for savings. Part of the budget should also include an allowance which gives each individual some money for personal spending.

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Monthly Income and Expense Planner

Income Guide Family of Four

Income Guide Family of Two

Income Guide Single Parent

Income Guide Singles

Additional Financial Information:

Finances for Children and Teens

Before You Say I Do

Widows Financial Guide
 

For additional budgeting tools from Crown Financial Ministries click on the following link.
BUDGET TOOLS

    Bill Bone worked as a CFC referral counselor for eight years. The information provided on this page are counselor tools used to assist in the budget development process.    www.crown.org