6 Steps to Financial Freedom

  1. Save one month of expenses in an emergency fund.
    Proverbs 21:20 – There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. KJV
  2. Pay off all debt except your home mortgage.
    Use debt snowball method.
    Proverbs 22:7 – The rich ruleth over the poor, and the borrower is servant to the lender. KJV
  3. Raise emergency fund savings to three to six months of expenses.
    Save for large purchases such as a car, home, etc.
    Proverbs 6:6-8 – Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, Provideth her meat in the summer, and gathereth her food in the harvest. KJV

  4. Invest 15% of your pretax income for retirement.
    Start saving for kid’s college.
    Proverbs 13:11 – Dishonest money dwindles away, but he who gathers money little by little makes it grow. NIV
  5. Pay off your home mortgage.
    Proverbs 22:26-27 – Be not thou one of them that strike hands, or of them that are sureties for debts. If thou hast nothing to pay, why should he take away thy bed from under thee? KJV
  6. Increase giving and have fun!
    Acts 20:35 – I have shown you all things, how that so labouring ye ought to support the weak, and to remember the words of the Lord Jesus, how he said, It is more blessed to give than to receive. KJV

    Ecclesiastes 2:24 – There is nothing better for a man, than that he should eat and drink, and that he should make his soul enjoy good in his labour. This also I saw, that it was from the hand of God. KJV

    Ecclesiastes 3:13 – And also that every man should eat and drink, and enjoy the good of all his labour, it is the gift of God. KJV