6 Week Money Challenge E-Book

Steve Repak

• Herausgeber: BroadStreet Publishing Group, LLC
• Kategorie: Ratgeber
• Sprache: Englisch
• Veröffentlichungsjahr: 2016

Seitenzahl: 190

Beschreibung

Financial matters are mentioned in the Bible more often than prayer, healing, or mercy. With so many people living paycheck to paycheck, struggling to build their credit and worried they will be in debt the rest of their lives, we need the Bible's words of financial wisdom more than ever. Certified Financial PlannerTM Steve Repak reveals what the Bible has to say about spending, saving, and giving in this 6-Week Money Challenge. His simple, step-by-step program is founded on biblical principles paired with a CFPTM's understanding of modern wealth-management strategies. Steve inspires and motivates readers to change their financial lives by challenging them to commit to his biblical boot camp. In just six weeks, readers will complete practical and achievable weekly challenges designed for group or individual use. Take the 6-week money challenge now and get fit for a healthy financial future. 

Leseprobe

Published by BroadStreet Publishing Group, LLC

Racine, Wisconsin, USA

www.broadstreetpublishing.com

This book is designed to provide accurate and authoritative information on the subject of personal finance. It is sold with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services by publishing this book. As each individual situation is unique, questions relevant to personal finance and specific to the individual or business should be addressed to an appropriate professional to ensure that the situation has been evaluated carefully and appropriately. The author and publisher specifically disclaim any liabilities, loss, or risk that is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this work.

Copyright © 2016 by Steve Repak

ISBN-13: 978-1-4245-5115-6 (hard cover)

ISBN-13: 978-1-4245-5116-3 (e-book)

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information retrieval or storage system, without the prior written consent of the publisher.

Unless otherwise indicated, Scripture quotations are from THE HOLY BIBLE, NEW INTERNATIONAL VERSION®, NIV® Copyright © 1973, 1978, 1984, 2011 by Biblica, Inc.® Used by permission. All rights reserved worldwide. Scripture quotations marked ESV are from The Holy Bible, English Standard Version. Copyright © 2000, 2001 by Crossway Bibles, a division of Good News Publishers. Used by permission. All rights reserved. Scripture quotations marked NLT are from the Holy Bible, New Living Translation, copyright © 1996, 2004, 2007 by Tyndale House Foundation. Used by permission of Tyndale House Publishers, Inc., Carol Stream, Illinois 60188. All rights reserved.

Cover design by Chris Garborg at www.garborgdesign.com

Interior by Kimberly Sagmiller at www.fudgecreative.com

Stock or custom editions of BroadStreet Publishing titles may be purchased in bulk for educational, business, ministry, fundraising, or sales promotional use. For information, please e-mail [email protected].

Printed in China

15/10–1

“Steve Repak has broached a subject that many of us wrestle with at one time or another. As a former homeless single mom who used government assistance to get by, I thank God for teachers like Steve who can dig deep into money issues and move the body of Christ forward into a healthy money mind-set.”

— Jennifer Maggio, Chief Executive Officer of The Life of a Single Mom Ministries and Award-Winning Author

“Steve Repak gives believers a precious gift as he presents truth and wisdom about money issues in 6-Week Money Challenge. God desires us to submit every aspect of our lives to him, and I’m grateful for Steve’s ability to map out practical applications for godly decisions about money for daily living.”

— Tara Fairfield, EdD, Licensed Psychologist, Speaker, and Author

“Dealing with personal finances can be scary, especially when we’ve found ourselves in a deep pit of debt. Steve Repak comes from a place of personal experience, talking to you and not at you, offering everyday experiences and solutions. Steve will help you get started on a simple and practical journey to become good stewards of God’s blessings.”

— Shannon M. Deitz, Founder of Hopeful Hearts Ministry, Author of EXPOSED: Inexcusable Me…Irreplaceable Him, and International Speaker

“Steve Repak has written a helpful financial book for our culture. As a local church pastor, I see that many in our culture are drowning in debt and inherently joyless because of their greed-driven pursuits. We need a quick, easy-to-understand biblical perspective and plan on the basics of financial wisdom. 6-Week Money Challenge delivers.”

— Kenny Hibbard, Founder and Lead Pastor of Team Church, Matthews, NC

“Being a good steward of money takes education and consistent effort. 6-Week Money Challenge provides clear steps that help people understand their finances in accordance with their personal goals and beliefs. For those looking for practical financial lessons and inspirational stories, I highly recommended this author.”

— Vince Shorb, CEO, National Financial Educators Council

“Steve Repak’s book, 6-Week Money Challenge, is the perfect resource for people tired of living paycheck to paycheck. His advice will help you rebuild your finances and release the stress strangling your family life. If you’re tired of chasing the bills, wondering how you’ll make it next time the car breaks down, pick up this simple book to regain control of your life and create a plan for a joyful lifestyle!”

— Angela Breidenbach, Author, Speaker, Radio Personality

“Thanks to Steve Repak for this practical and values-based approach to building wealth. Most folks just want to be rich (nice cars and a crappy marriage), but Steve guides you and your partner through a step-by-step, principle-by-principle way to build wealth and lower the stress in your life. As you deal with your financial values, you’ll discover money’s purpose and meaning in your mission field of life. Grab a friend, go through the book, and both of you will lay up treasures in heaven while you make a difference here on earth.”

— Derrell Crimm, CFP,® Partner at AC Financial Partners

“How many times a day do we bring up money? How much does that cost? Can we afford this? In this incredible resource, 6-Week Money Challenge, Steve Repak tackles our money questions with wisdom and practicality. He offers simple, sound advice for Christians on when to spend, how to save, and how to be good stewards of the financial resources they’ve been given. A must-read!”

— Laura L. Smith, Author and Speaker

“If you’re looking for a step-by-step guide for getting your finances in order, 6-Week Money Challenge is for you. Steve Repak takes a priorities-based approach to getting your money in order. Build true fulfillment and live a truly rich life—without the need for the trappings of affluence. If you want to direct your financial resources in a truly meaningful way, this book will set you on the right track.”

— Miranda Marquit, Freelance Journalist, Financial Expert, and Author of Confessions of a Professional Blogger

My Heavenly Father, my Family, my Country and my Friends, Thank You!

Thank you, God, for allowing me to pursue my passions and for blessing me with the opportunities to share my gifts and talents to further your kingdom.

To my loving wife and children, thank you for your unconditional love and support. I would not be able to do this without you guys!

To the servicemen and women and the families that support them, thank you for the many sacrifices you make each and every day in order to protect our great nation!

To my BFF, Derrell Crimm, thank you for your guidance and wisdom, and for keeping me accountable.

To Randy Randall, Stephen Pope, and Cathy Vasilev with Red Oak Compliance, thank you for your expertise and recommendations to help keep me and the book in compliance!

To Vanessa Mickan, you have been so instrumental in each of my book projects, and I am so thankful how God has blessed you with the ability and skills to transform my transcripts into something so special!

To my agent, Tamela Murray, with the Steve Laube agency, thank you for believing in me and getting my project in the right hands!

contents

FOREWORD

INTRODUCTION

WEEK 1:

THE BIBLICAL FOUNDATIONS OF A SOLID FINANCIAL FUTURE

WEEK 2:

SPENDING

WEEK 3:

DEBT AND CREDIT

WEEK 4:

SAVINGS AND INVESTMENTS

WEEK 5:

ESTATE PLANNING DOCUMENTS AND INSURANCE

WEEK 6:

REVIEW

RESOURCES

ABOUT THE AUTHOR

foreword

If you are like a lot of people, you feel overworked, exhausted, and you spend more money than you make. But, I have good news, the six-week process outlined in Steve’s new book can help you develop and maintain healthy financial habits. These practices are written to unite married couples that have been bitterly divided over their financial situation, to teach teenagers generosity, and to inspire young adults to take the steps they need to prepare for a financially secure future. Most importantly, your fresh devotion to financial faithfulness will draw you closer to Christ as you pursue his plan for your life and apply the wise management of money.

The Bible mentions money and finances more than 2,000 times, so you know God is passionate about this subject. And you can tell by the energy evident in Steve’s written words that he speaks from the heart, but more importantly, he honestly shares from experience. He faced the same challenges that others face: being spiritually and financially broke. God had a purpose for Steve’s life: a calling to financial faithfulness. God led Steve to become a Certified Financial Planner,™ and he has grown to become a premiere financial expert in both the secular and faith-based realms. As a financial literacy speaker, he has helped countless people with his motivational and inspiring presentations and is a sought-out expert in the media, having appeared on The 700 Club, Fox and Friends, and Fox Business, among others.

The financial situation in America is challenging and uncertain. Families are in trouble. But we serve a mighty God, and his ways are tested and proven time after time. I recommend this book because it will steer you into the Word of God and toward his best practices for a healthy financial future. First, by immediately delving into the delicate relationship between money and God, I believe you will embrace what some people see as the greatest benefit of 6-Week Money Challenge and grow it into a much-needed discussion with others. These writings help Christians understand the biblical foundations of personal finance. Readers from all walks will find value in the thoughtful exploration of controlled spending, debt reduction, and preparation of legal documents among many other general finance tips. This well-rounded finance guide is highly appealing to a variety of audiences and is a must-read for those who truly want to become good stewards of God’s resources.

As Steve says, “When we challenge ourselves to become better, we have a much better chance to become better.” Congratulations on taking on the challenge!

A fellow servant of Jesus, Boyd Bailey, CEO of Ministry Ventures and author of The Way of Wisdom

introduction

“But seek first His kingdom and His righteousness, and all these things will be given to you as well.”

(MATTHEW 6:33)

Did you know that financial matters are mentioned in the Bible more often than prayer, healing, or mercy? Fifteen percent of everything Jesus taught was on the topic of money and possessions—more than his teachings on heaven and hell combined.

Why would the Bible give so much attention to money when Matthew 6:33 assures us that we don’t need to focus on worldly matters such as our bank balance? It says that so long as we seek the kingdom of God, we have nothing to worry about. Yet the sad truth is that most people are only one paycheck away from a financial disaster, and too many of us are consumed by money worries. If you sometimes catch yourself spending more time stressing about money than growing your relationship with God, you are not alone. Though the Bible tells us to place our trust in our eternal security, all too often our attention is focused on concerns about our temporary security.

It’s no wonder, then, that finances are mentioned so many times in the Bible. God must have thought money was important because it’s the one thing that constantly pulls us away from him. What can we do to get our finances under control and devote ourselves to the stuff that really matters, rather than money worries? First up, it’s time to get real. Take a good look at the state of your finances and tick the answers to these questions:

Are you living paycheck to paycheck? YesNo

Do you worry about how you are going to pay your bills at the end of the month? YesNo

Do you have credit card debt? YesNo

Are you struggling to build your credit or believe your credit is beyond repair? YesNo

Are you concerned that you will be in debt for the rest of your life? YesNo

Do you have less than $1,000 in savings? YesNo

Are you giving less than what you know in your heart you should be giving? YesNo

Is your retirement plan to work forever? YesNo

Rather than taking steps to protect your family from a financial disaster, is your strategy to worry about it when the time comes? YesNo

Instead of writing a will and a power of attorney, have you put your trust in the government to make the right decision about who will get your assets or who will take care of your children if you should die? YesNo

If you answered yes to one or more of those questions, you now have an idea of where you need to improve in order to become more financially sound. But above all else, the most important question you need to ask yourself is this:

Do I trust God with my finances?

If you answered yes, your financial journey will be a lot smoother. I’m not saying it will be easy though. It will take some work and discipline on your part. And keep in mind that bad things happen to good people, and God never promised that life would be fair or easy. These facts hit home for me several years ago when, as a United States Army veteran and Certified Financial Planner™ professional, I was giving a predeployment finance briefing to soldiers and family members of a National Guard unit in North Carolina. The unit was going to be deployed to Iraq, and my job was to help the soldiers and their families prepare financially. The soldiers were not in uniform, so I couldn’t tell the difference between them and their family members.

At the end, a gentleman in his sixties came up to thank me for coming to the unit and helping out the soldiers and their families. He also said that he wished there had been someone like me around to talk some sense into him when he was younger. I thanked the gentleman for his compliment and asked him if he had a child or maybe a grandchild who was about to be deployed. I remember him dropping his head and saying no. The gentleman went on to tell me that this was the third deployment he had volunteered for in the last five years. He used the extra money he made from his first two deployments to pay off his credit card debt, and he would use the extra money he was going to make from this deployment to build his savings.

I can’t tell you how bad I felt for him. He loved his country, but he wasn’t volunteering to put his life on the line at his age because he believed his calling was to serve his country. He was putting himself in harm’s way because his finances were a real mess. It broke my heart. I thought to myself how hard it must be for someone in his sixties to have to make this type of sacrifice. I wondered how he faced not only the mental and emotional challenges of being away from his loved ones but the physical challenges too. Though I felt bad for him, I was also reassured that God put him in my life for a purpose.

I have no idea how that gentleman got into the financial predicament he was in. Perhaps he made poor financial decisions. You don’t have to look far to find a neighbor, a friend, or a family member who has made some poor financial decisions and now their credit is wrecked and they have to work two jobs just to get by. Or maybe he just had bad luck, like a couple I knew who were in their twenties, had a newborn, and were just starting out in life. The husband had a job working at the bank, in the mortgage department, and Mom chose to stay home taking care of their new baby. Life was great, and they didn’t have a worry in the world because the husband was making good money. But in the blink of an eye, the housing bubble burst, the husband lost his job, and they had to figure out how they were going to make their house payment and car payment and pay for food and diapers.

Many people were not prepared for the great recession of 2008 and 2009, and nobody can predict the future. But here’s a friendly reminder: history often repeats itself. It would probably behoove you to get prepared now before you become a statistic.

THE INSPIRATION BEHIND THIS BOOK

Have you ever noticed that throughout the Bible God used common people, or people you wouldn’t expect, to do his work? The disciple Matthew is one that comes to mind. There he was, a tax collector, and we know that back in the day they were notoriously corrupt. Despite Matthew’s sinful past, Jesus picked him to be one of his closest followers. It is awesome that God can use anyone to help him in his work, no matter their appearance, background, or past.

To prove how true this is—and also show why I think God has a sense of humor—I want to share a little bit about me. Growing up, there was always a roof over my head and I don’t ever remember going hungry, but I just didn’t have that much. I lived in a trailer park, and kids made fun of the clothes I wore. When I was in high school, I worked evenings and weekends to have a little spending money. Neither of my parents had a college degree, so education wasn’t much of a priority. Once I graduated high school, I decided to join the army.

When I completed basic training, it was the first time I saw real money. I took home about $700 every two weeks. The ironic part is that while my clothes, housing, and food were paid for by the military, I would always find myself with no money in the bank. I thought that buying a bunch of stuff would make up for all the things I had to go without when I was a child. After about a year in the army, I got my first credit card. I don’t think the ink was even dry on the back of the card when I already had it maxed out.

I was promoted to Private First Class. A higher rank meant a higher salary, and that higher salary afforded me the opportunity to get another credit card. Soon after, I had that credit card maxed out. You might be thinking to yourself that I would eventually catch on, but the cycle continued to repeat. I would get promoted, make more money, get another credit card, and max it out. As long as I could make the minimum payments, I thought I had a handle on my credit card debt. I told myself that the next time I got promoted I would have enough money to pay off my credit cards. I’m sorry to say that when I left the army after twelve years, financially all I had to show for it was $32,000 of credit card debt.

I had thought that buying things would make me happy, and I had tried to buy a whole bunch of happiness for myself. To tell you the truth, I was not happy, because I hated living paycheck to paycheck, having nothing in savings, having a poor credit score and a mountain of debt, and always feeling like I had very little hope.

Now comes the best part! God opened a door for me in finance. I hadn’t planned on a finance career, but one of the contacts I had made in the army saw a talent in me that I hadn’t yet discovered. Through that contact, I became an investment representative for a national broker-dealer in El Paso, Texas. There I was, fresh out of the Army, $32,000 in credit card debt, with nothing in savings or put away for retirement, and my job was to help other people with their finances. This is why I know God has a sense of humor and that he can use anyone!

My bad money choices had left me in a financial predicament, which I learned from greatly. Biblical and godly principles helped me to get out of that predicament and get my finances in good shape. Now I feel God leading me to help others by sharing the lessons I learned. There are a ton of personal finance books out there. What makes this book different is that, unlike other financial experts, I know what it’s like to struggle to pay the bills each month and to have a ton of debt and little hope. And when it came to fixing my finances, I turned to the Word of God.

In this book I will provide you with some simple steps to securing a solid financial future God’s way. I will share with you what you really need to know in order to get a handle on your finances, or at least give you some reassurance that you aren’t as bad off as you thought.

HOW TO USE THIS BOOK

This book is designed as a six-week challenge. Most money issues relate to bad habits, and it takes six weeks of practicing a new behavior to break an old habit.

You can work through this book on your own or in a small-group setting. A small group can create a great atmosphere in which to share your experiences with others who may be struggling with the same issues as you. It can also provide a chance to learn from other people’s experiences—good and bad. You and the members of your group can pray and encourage one another, which I believe people need. Schedule a meeting at the same time each week, and do your best to read the relevant chapter at home before each meeting. If you are working through this book on your own, set a regular time (or times) each week to devote yourself to it.

Whether you are doing the six-week challenge on your own or in a group, it can be helpful to find an accountability partner such as a spouse, a friend, or a member of your small group. Check in with this person regularly to gauge your progress and help you stay on track during the six weeks. What I have learned is that when you have an accountability partner, your probability for success greatly increases. I am not saying that you won’t be successful if you do it alone, but having someone to support and encourage you definitely helps.