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Financial Articles
World Bank chief warns of financial crisis World Bank chief Robert Zoellick on Saturday warned of a "new and more dangerous" time in the global economy...
US Recession Risks Rises The threat of a new recession is rising in the United States, economists say, as they slash their ..
Unsafe US debt remains safe haven US Treasury bonds remain a hot ticket for investors looking for a low risk investment in a volatile market despite the unprecedented ...
US borrowing tops 100% of GDP US DEBT shot up US$238 billion (S$287.2 billion) to reach 100 per cent of gross domestic project after the government's debt ceiling was lifted
Consumers consumed by debt The average consumer may feel far removed from the heated debates concerning the $14.3 trillion debt ceiling. But the truth is...
Financial Crisis II. Get out of debt now There is increasing talk among traders and financial analysts that the latest slump in global share markets
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Credit Counseling and accumulation strategy
Scriptural Financial Freedom Obtaining God's Blessing






Credit Counseling

And Accumulation Strategy

Credit counseling Step 1: Eliminate all credit card and consumer debt. This provides an immediate "investment return" of 12% to 21%. Not having to pay that interest cost each year is, in effect, the ssame as achieving the same rate of return on any monies invested by you. Therefore, it is the surest and highest form of investment return you can make.

Credit counseling Step 2: Set aside one month's living expenses in the checking account. This is in addition to the current month's living expenses that are in the checking account, so at the beginning of any one month there would be two month's living expenses already deposited in the checking account. This "investment" is for flexibility.


Credit counseling Step 3: Invest between two and six months' living expenses in an interest-bearing money market fund account. This becomes the emergency fund and, in effect, your own bank. As you need money to make a major purchase or have an unexpected major expense or see an opportunity to save through purchasing now instead of later, you can borrow from yourself out of this account rather than from a lending institution. Once the money has been borrowed, it should, of course, be replaced. Step 2 and 3 provide you with flexibility so that you will be guarded against emergencies that come up that might totally drain your resources.

Credit counseling Step 4: Save in an interest-bearing account for major purchases. This is the planned purchase of major items such as automobiles, furniture, and even the downpayment on a home.Steps 1 through 4 should be done in sequence rather than all at once. in other words, you do not go to Step 3 until you have accomplished Step 2. By doing so, you eliminate the need to make a decision whenever an investment alternative comes to you. If you have not already accomplish Steps 1 through 4, you let the options go by.

The Bible does show many ways to overcome any financial crisis. Many of these principles are laid out in our successful course, the Scriptural Financial Freedom series. To learn more, you can download the Small Groups kit from our estore.


Today's Bottom Line


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Financial Freedom Tips & Toolbox

Today's Pick: The dangers of Debt The Dangers of Debt by [Stacy Johnson]



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