The Christian Declaration Of Financial Independence

Preface
  To encourage people to better understand and appreciate the principles of Christian financial stewardship as set forth in the article and sections below.

Article I
  We the Christian people hereby agree to the following:

Section 1.  We recognize that God is the creator and owner of all things.  We promise to be the best possible “stewards” of all that God entrust us with during our lives-including our own personal relationship with Jesus Christ, our spiritual growth, our family lives, our relationships with others and our finances.

Section 2.  We will show our love and appreciation to God for the sacrifice of Jesus Christ on the cross as He bore our sins that we might have life eternal by accepting
God’s Mercy and Grace.  We will tithe/give (goal-10% or more) to help others with not only our money, but also with our time and talent.

Section 3.  We will help God secure our futures by saving and investing.  We will start saving immediately.  We will first save at least $1,000 for an “emergency fund” that is placed in a safe liquid account.  Next we will save 3-9 months living expenses for our “emergency fund.”  In addition to our “emergency fund,” we will save and invest for the future (goal-at least 10%).

Section 4.  We will take care of our finances by tracking each account and putting money where it will grow.

Section 5.  We will invest for the long-term.  Financial futures are built on patience, time and hard work.  We will avoid speculative investments and investments that are too risky. 

Section 6.  We will pay our “fair share” of taxes.  While paying our “fair share” of taxes, we will utilize tax strategies that minimize our tax bite.  We will focus on investments that are less taxed than the highest rate, which is “earned income”-such as a paycheck.  We will utilize “portfolio income”-such as stocks, mutual funds and bonds that are less taxed than “earned income.”  We will focus on “passive income” -investments such as real estate, which is the least taxed income.

Section 7.  We will use our home as a savings account.  Our home provides shelter and helps build equity for our futures.  We will save for a large down payment-at least 20% or more-when we buy a home.  We will purchase a home that is affordable for our budgets.  We will pay off the mortgage loan as soon as possible.  We will leave our home equity safe instead of spending it on perishable things. 

Section 8.  We will live within our means.  We will spend less than we earn.  We will be content and grateful for the resources we currently have.  We will make every effort to pay for purchases without acquiring debt.
 
Section 9.  We will protect our credit worthiness.  We will pay our bills on time. 

Section 10.  We will avoid debt whenever possible.  We will only borrow money when necessary and only in amounts we can comfortably pay back.  We will know the cost of borrowing before agreeing to any debt repayments.  We will add the cost of borrowing to the original purchase price and ask if the purchase is worth the total cost.  We will borrow the least amount of money possible, at the lowest rate possible and for the shortest time possible.

Section 11.  We will destroy credit cards if we are not paying the balances in full each month in order to avoid extra finance charges.  If currently spending more than earned, we will stop incurring additional debt immediately and work on a plan to pay off debt.

Section 12.  We will not confuse our “self worth” with our “net worth.”  Regardless of whether you are a pauper, middle class or a billionaire, Jesus Christ died for your sins that you might have life eternal.  You are of infinite worth to God.  God desires that you be a good steward of His resources; however, you will not be taking money with you to heaven.  Your relationship with God and others is more important than money.
 

  We mutually pledge our commitment to these declarations with a firm reliance on the protection of God’s divine providence.

__________________________     ______________________
Your Signature                             Date

Bill G. Page is the author of “Making Money Work: A Christian Guide For Personal Finance.” A book based on Biblical principles that comes with a CD-ROM that contains calculators to help people with their financial choices. We also have a CD-RW for those that wish to use Making Money Work as a Christian personal finance course. Visit our website at http://www.MakingMoneyWork.us.

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Surprisingly, many people don’t have an emergency fund. Having cash on hand is a requirement for paying for life’s little unexpected bills. It’s absolutely invaluable and is exactly how people are able to live debt-free lives without relying on credit cards and loans when emergencies or unexpected expenses present themselves.

Some people argue that they cannot afford an emergency fund – but the truth of the matter is, if you feel this way then you can’t afford to live without an emergency fund. Chances are you rely on credit cards to get you through hard times but the increasing debt repayments only makes it that much harder to make ends meet financially. Here are a number of tips for how to put money in an emergency fund:

Starting an Emergency Fund

First, you can look for any small source of cash that you have to start an emergency fund. Roll loose change collected from around your house or car. Return recyclables and deposit the money from your bottles and cans. Most savings accounts do not require a minimum amount to open an account, so take advantage of it and find a few dollars to start your emergency fund. If possible, choose an account that will earn some interest while the money is in the account – but make sure it is one where you have quick access to your money w hen needed.

If you are working, you should consider having a certain amount of money transferred to your new emergency fund each pay period. It doesn’t have to be a lot to get started, especially if you feel you live paycheck to paycheck – even $2 a week will add up to more than what you currently have if you aren’t saving anything, right?

Sell some things in a garage or yard sale, or on Ebay. You might be surprised at how quickly your fund grows using these simple methods.

Once you have about $500 in this fund, you can move on to the next step, but remember to keep adding to the fund a little at a time and do not use it for anything that is NOT an emergency!

Find Money in Your Automobile Insurance Policy

Most people set their automobile insurance policies up with a low deductible so that if they are in an accident they don’t have to come up with a lot of cash to pay their deductible. Once you have $500 in your emergency fund, you could raise your deductible from $250 to $500 and the money you save on your insurance policy each month can be added to your emergency fund to grow it faster. You might even consider raising the deductible to $1,000 if your emergency fund grows to surpass that amount.

If you have multiple cars, you can do this to both vehicles which will double the amount you can save on insurance policies and grow the emergency fund that much faster.

Long Term Goal: 3 Months of Living Expenses

Most experts recommend that you have three months of living expenses saved in your emergency fund. When you reach this goal, you might consider transferring a portion of that money into a certificate of deposit or money market account in order to benefit from higher interest rates – just whatever option you choose be sure that you can access the money when you need it for emergencies.

This system is self-sustaining – if you have to use the funds, then you will replenish them with your source with which you started out. You need discipline to make it work, but it’s well worth the effort.

Elizabeth Williams, Editor-in-Chief for CreditCardFlyers.com

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Should you be buying gold as an investment today? I wouldn’t because the price of gold has been extremely volatile lately and if you get in at the top, it’s like getting in at the top of the real estate, stock and any other market, any gains may be lost. If you’re going to go into the gold market, the rules are the same as any other investment, it’s best to go in a little at a time. Invest the same amount of money every month and any ups and downs will be smoothed and you won’t be concerned by the violent swings.

There are other reasons to buy gold besides making a killing in the market. Even conservative investors should have some gold in their portfolio no matter what the market is doing. Not necessarily as an investment, but as insurance. In worst case scenarios, gold will always be worth something,  in the best case, gold will be worth more than cash that’s in the banks and stocks.

What kind of gold do you buy?

Isn’t gold, gold? There are gold coins, gold bullion, antique gold coins, gold stocks, gold mines, futures and commodities markets, stocks and funds that invest in gold mining and equipment that’s used to mine gold and precious metals.There are American gold coins and several countries produce gold coins of some sort and in several different denominations, sizes and quality.

Should you buy gold online?

How do you know an online dealer is reputable? The same way you know a brick and mortar gold dealer is reputable. Check the Better Business Bureau, check with independent sources from Internet, family and friends. If they’ve only been in business a short time, be extra wary, but even established dealers have been known to have problems.

One of the several questions you should be considering is if you want to keep the gold yourself or have the dealer keep it for you. If you’re extra cautious and want to ensure your gold is actually in your hands instead of a piece of paper saying it’s in a vault somewhere, you may be paying a premium for shipping and insurance. This is another good reason to buy small quantities spread over time. Then there’s safety deposit rental if your bank doesn’t provide one for free.

What about gold confiscation?

A major reason given for buying gold coins instead of bullion is that in America’s history, the government confiscated all gold bullion and reimbursed citizens in paper dollars for their gold, whether they liked the price or not. This law is still on the books and is still a valid law that many, especially now are particularly worried about. An exemption was made during the confiscation for dentist gold, gold jewelry and coins that had intrinsic value to collectors. Does this mean the American Eagle gold coin series has intrinsic value to collectors? New American Eagle gold coins are considered bullion and may be subject to confiscation. If that’s a particular concern, ensure you’re buying antique gold coins. Those coins come with a hefty premium, dealers and brokers know that and try and push the sell of old gold coins for exactly those reasons.

Selling your gold is the easy part. Because it’s gold, you can sell it any time and anywhere in the world. There are always dealers in any decent sized metropolitan area, but like any insurance policy, you shouldn’t cash it in unless you absolutely need it.

Put an insurance policy on your portfolio and take control of your money even in the worst of times. Learn more about buying gold coins online and the different types of gold coins and bullion at Safely Wealthy with Gold.

Article Source:http://www.articlesbase.com/wealth-building-articles/buying-gold-coins-839205.html

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