Participants: Cordell Thomas
Series Code: TITTB
Program Code: TITTB000040
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00:01 On Take it to the Bank,
00:02 you'll find ways to get out of debt. 00:09 Solve your credit card problems. 00:14 How to make and stick with the budget? 00:19 Simple ways to save. 00:24 Buying or selling a home 00:27 and many more financial matters on Take it to the Bank. 00:31 Hi, my name is Cordell Thomas, and thank you for joining me 00:35 for the program called Take it to the Bank. 00:37 I look forward to talking to you for a few minutes 00:39 today on this program titled, 00:41 The Single Biggest Impact to One's Budget. 00:46 What is a budget? 00:49 Do you know what yours is? 00:52 Do you have a budget? 00:54 Many people who have a budget can tell you in detail 00:58 what items they spend money on, where their money goes to, 01:02 how much money they put into savings, 01:04 how much money goes into investments, 01:05 what they do with their funds, the fact that they tithe, 01:08 the fact that they do things. 01:09 And this type of individuals are your wealthy individuals 01:12 because they know where every bit of money is. 01:15 What is a budget? What is on a budget? 01:18 And those type of questions come time after time after time 01:22 when you start talking to people 01:24 about how they manage their money. 01:26 And then when you begin to ask them things like, okay, 01:29 what's the greatest expense 01:31 that you have on a monthly basis? 01:33 Well, it's got to be my house. Well, of course, it is. 01:35 Your house is your biggest payment. 01:37 Probably the biggest note 01:38 that you have on your mortgage or your rent, 01:40 but then you've got heating bills, 01:42 you've got electricity, you've got water, 01:44 you've got those type of resources 01:46 that you have to pay for. 01:48 Then, what is the other areas that you should be aware of? 01:51 Such as gas, such as automotive, 01:53 such as fuel, such as groceries, 01:55 such as newspaper bills, 01:58 such as internet access and we can go on and on and on. 02:02 I ask you to go to the website 02:03 and download a free copy of a budget spreadsheet. 02:07 All you need to do is plug in the numbers. 02:09 Where's your revenue stream coming from, 02:11 by revenue I mean, where is your income. 02:13 What type of jobs do you do 02:15 to bring money into your household 02:17 and then on the flip side, 02:19 where does your money go on an ongoing basis. 02:22 What is your expense factor in many different areas? 02:26 One of the big things that people don't plan for 02:29 and many in their lives 02:31 have to do with things like fraud, and scams, 02:36 and or emergency funding. 02:38 Now, the reason that's not in this 02:40 because none of us expect to be caught up 02:42 in any type of fraud or scam. 02:44 But it is essential that as you plan your budget, 02:48 the budget becomes a contract to you, your wife, 02:50 those that are in your circle 02:52 about how you will spend your money. 02:54 So if someone comes to you with this great offer 02:57 about a lottery you won 02:58 in some kind of foreign country, 03:00 it's not a part of your budget to pay for any type of lottery 03:03 and secondarily the warning sign comes up 03:05 when you ask that critical question is, 03:07 if I didn't enter a lottery, how am I winning this lottery? 03:11 Or how about a second critical question is, 03:14 why am I paying for something that's already mine? 03:17 So these are questions you ask. 03:19 And when you ask those questions, 03:21 people who are not able to answer them 03:24 or there seems to be some type of, 03:26 of heehawing on their side of the phone, 03:28 you begin to know that something is up, 03:30 something is not right, 03:32 and it's essential that you ask those questions 03:34 as they will have a direct impact 03:36 on your life, your budget, 03:38 and what happens to your household 03:41 expenses and planning. 03:43 So why are we talking about 03:45 the single biggest impact to your budget? 03:47 Because many people don't realize 03:49 that it doesn't take that much 03:51 for a budget to go out of whack. 03:54 It doesn't take that much 03:55 for a budget to go out of alignment. 03:58 It is essential 04:00 that the planning of your life take place, 04:03 because if it doesn't take place like, 04:05 in my life I can be willing 04:07 to provide some of the details of my personal life 04:11 by saying that in 1999, I made a lot of money. 04:15 And in 1999, I spent a lot of money, 04:19 in fact, my tax returns will show 04:21 that how much money I made in that year. 04:24 I probably spent more than I brought in 04:27 because I didn't have a budget. 04:29 I didn't have any planning, any methodology for thinking 04:32 through what I'm going to do with my money. 04:35 And what happened because I hadn't planned, 04:38 or I had budgeted, or done anything? 04:41 I spent everything that I made. 04:43 Plus more, because of course, I had access to credit. 04:46 Now I'm talking to some of the single guys out there, 04:50 single individuals, and I try to make this a point, 04:54 because that, at that time I was single 04:57 and I didn't think I have anything, 04:59 had anything to worry about. 05:00 But I would ask you to think differently about being single 05:04 and not have anything to worry about you do. 05:07 You have to plan for a future, for your future, 05:10 for where you're going, for what you're doing. 05:12 Did you know, if you simply thought 05:13 through the process of graduating from college 05:16 and putting away $150 a month for the next 10 years, 05:19 that 10-year timeframe 05:21 when you're young in life could help that investment, 05:26 could provide you almost $600,000 plus 05:29 worth of returns planning for retirement. 05:32 And if you continue to save along the course of your life, 05:35 you could have well over $1 million up to $1.6 million, 05:38 depending on different variables interest rates 05:41 and the like. 05:43 But it's that type of planning we need to think about 05:45 because many of us come out of college 05:47 and we're worried about the college debt, 05:49 a big impact to any type of beginner's budget. 05:52 And we're worried about paying that back 05:54 and getting that bit of information back 05:56 into the hands of the college, 06:00 or organization that gave us our education. 06:02 But we worry so much about that kind of a debt, 06:04 we forget about the fact 06:06 that if we are more proactive in our thinking 06:09 we could be saving money towards 06:12 other areas of our life. 06:13 So paying back the debts is one thing, 06:15 and then there are different things 06:18 that you can do to even postpone paying back that debt 06:22 or you can even have that debt paid off 06:24 if you get involved 06:25 in certain type of social services. 06:27 People don't know these type of things. 06:29 And if you knew that, 06:31 you could spend more time planning for a future 06:33 that could be bright, could be wonderful, 06:36 could be effervescent, 06:37 and could provide a certain sense of happiness 06:39 because you're at peace and this happiness is provided 06:43 not by how much money you make 06:46 but how you handle your money. 06:51 Now, what I would like to do 06:53 is provide you a small reference. 06:55 In the Bible there's a text in 1 Timothy 6:6. 07:02 If you go there for a moment, 07:04 it says something about 07:05 godliness with contentment is gain. 07:09 "If we brought nothing into the world 07:10 and will take nothing out of the world." 07:13 But then it goes on, in verse 17, 07:16 the place that it says, 07:17 "Command those who are rich, 07:20 in this present world, in this present world." 07:22 I like the wording that he used, 07:24 "Those who are rich in this present world 07:26 not to be arrogant, nor to put their hope in wealth 07:30 which is so uncertain, but to put their hope in God, 07:33 who richly provides us with everything 07:36 for our enjoyment." 07:38 Now, this is, this is a kicker, I love this. 07:41 When you take a look at studying about happiness, 07:43 happiness is not about what you have, 07:45 happiness is not about 07:46 what kind of luxury car you can buy, 07:48 happiness is not about all this wealth and affluence, 07:51 it has everything about giving back. 07:53 That's what this worldly study has provided. 07:56 It's about something bigger than us. 07:57 It's about a legacy, it's about family, 07:59 it's about engaging with others, 08:01 it's about giving away and not taking. 08:04 And it says this, 08:06 "Command those that are wealthy, 08:08 or those that have funds, 08:11 or those that may not be as wealthy." 08:13 It says, "Command them to do good, 08:17 to be rich in good deeds 08:20 and to be generous and willing to share. 08:24 In this way they will lay up treasure for themselves 08:27 as a firm foundation for the coming age." 08:30 Can you believe that? 08:31 You that are wealthy give, give, do, your time, 08:36 your learning, 08:38 provide others with that same sense of wisdom 08:41 that God has given you. 08:43 Don't be arrogant, 08:45 don't get caught up in that wealth that you have 08:47 because it can go away just as easily as it came. 08:51 How do most people gain wealth in this earth? 08:53 I got a question from some of you, it's about, 08:55 what about the wealthy, 08:57 they just automatically have the wealth, don't they? 08:58 Those rich people that we look at on the internet, 09:02 and in the media? 09:03 Oh, we did a study on that and to give you, 09:06 if you're watching, 09:07 the feedback on that is 70% of people 09:11 who are currently wealthy are entirely self-made. 09:16 Of course self-made is what the article says. 09:19 God has blessed them. 09:21 It said only... 09:22 this group said that only 30% of this group of members 09:26 inherited their wealth, 09:28 the remaining 70% were entirely self-made 09:33 or they created wealth 09:34 and planned very creatively 09:39 with how they made money, 09:41 whether it'd be a small business, 09:42 whether it'd be media, whatever the case may be. 09:45 So every single one of us in this United States 09:50 have the opportunity to gain wealth. 09:52 And now they are talking about wealth 09:55 from a substantive perspective. 09:57 They labeled the wealthy anyone that makes... 10:00 In fact, we've been hearing it in the news 10:02 so many different times that $250,000 plus a year 10:06 is considered relatively wealthy. 10:09 And when you take a look at wealth in my definition, 10:15 wealth has nothing to do with how much money you make 10:18 but how you use your money. 10:20 So if, in fact, 10:22 in your situation you make $50, 000 a year 10:25 and not the $250,000 a year you're doing fine. 10:29 If you have a budget 10:30 and you're spending less than you make. 10:32 That's as simple as it gets. 10:33 If you're a comfortable individual that has no debts 10:36 and you're able to do what you need to do 10:38 and plan for your vacations and go where you need to go, 10:41 I congratulate you 10:43 and ask you not to get arrogant in where you're at, 10:46 but to continue the process of giving, 10:49 and doing, and being, 10:51 and acknowledging what Christ has to do in your life. 10:54 Because we go to that, 10:55 that story of the talents in Matthew 10:57 and we realize 10:59 that it's the individual that worked it 11:01 and was able to double 11:03 the investment that Christ had in him, 11:04 whatever that talent may be. 11:08 So we're talking about impacts of the budget. 11:10 And I haven't really addressed that as yet 11:11 because I want to get into it. 11:13 One of the major impacts to any budget 11:15 is the lack of preparation. 11:17 So I'm actually talking to you as, 11:19 if you don't have a budget, 11:21 you're really setting yourself up 11:22 for some type of disaster. 11:24 The targets that are out there are those individuals 11:26 who are spending what they make. 11:28 And believe you me, 11:29 that information is actually out there. 11:31 You know that your bank sells data 11:34 about bank accounts, 11:35 about balances in your bank account. 11:38 They sell that data 11:39 so that people can start assessing information 11:41 about different groups, 11:43 their behavior patterns, their savings, 11:45 how they spend money. 11:46 And if you are the type 11:48 that spends what you make, they know. 11:50 And many people are targeting these individuals 11:52 because they know 11:54 you're looking for a quick boost to your income. 11:58 So you're targeted for scams, fraud. 12:01 Many of our older generation are being targeted 12:05 because our baby-boomers as well as our octogenarians 12:11 are very wealthy 12:12 and have a very good spending power, 12:15 $400 billion specific to the baby-boomer group. 12:19 And our octogenarians 12:21 they buy 25% of all the toys purchased around the globe. 12:27 And when you think about that type of buying power, 12:29 these individuals are studied 12:31 and are very much targets for individuals 12:34 that would like to get access to your funds. 12:37 So for example, you might get a call late at night 12:41 asking you to send money to a foreign country, 12:45 based on the fact 12:46 that they know you may have grandchildren 12:49 and they ask for funds 12:51 because you're saying, "Hey, grandpa. 12:53 I'm stuck, I need $250. Can you send it to me now? 12:57 And make sure you send it via MoneyGram 12:59 because that's the fastest way to get it to me." 13:02 And these parents or grandparents 13:04 will get up and do it because they have 13:06 the best interest of their families 13:08 in their hearts. 13:10 But you know that these scams happen in many different ways. 13:14 And what I ask people to do 13:15 is plan and prepare for that type of thing. 13:17 Have a plan in place, 13:19 so you know where your grandkids are, 13:22 you know where your children are, 13:24 you have a connection plan to say, 13:26 let me call them up on their cell phone, 13:27 let me call them up where they're at, 13:29 and let me ensure that 13:31 this is actually what's going on. 13:33 These are major targets. 13:34 So your first major impact 13:37 to anybody's finances has to do with their lack of preparation. 13:42 That lack of preparation in your life 13:44 can also have negative impacts on your life 13:48 if you also don't plan from a budgetary standpoint, 13:52 how you spend your money? 13:54 And one of the other major areas 13:57 that people don't realize impact the budget 14:00 has everything to do, with what? 14:05 Technology. 14:06 We're taking a look at millennials 14:09 that are out there now, 14:10 that had, were born post 1980, '81 14:14 up through the year 2000. 14:17 You're looking at iGeneration individuals 14:20 that were born post 2000 14:21 that are very well connected to technology. 14:26 I am talking about not baby-boomer 14:29 but Gen-X's and millennials 14:30 because the biggest impact to anyone's budget right now. 14:34 Can you guess what it is? 14:36 That is the smartphone, the tablet. 14:39 This type of latest technology 14:41 are impacting budgets up to $3,000 to $4,000 a year. 14:45 If you look at what's happening in that industry, 14:48 they are the ones 14:50 that understand that you're a consumer. 14:51 So every single year they come out 14:54 with a new upgrade to a smartphone 14:57 and you feel obligated to have to buy it. 15:00 You know, it was interesting to me. 15:01 I went into a store and took my phone 15:05 and asked them, "Hey, you know, I need a cover, 15:07 protective cover for the phone 15:09 and I'm wondering if I can buy it from you." 15:11 And they said, 15:12 "What kind of phone do you have." 15:13 And I told them exactly what the model was on my phone, 15:15 and they laughed. 15:17 That was really kind of interesting. 15:19 They laughed at me. I said, what's so funny. 15:22 And they said, well, we don't sell that anymore, 15:25 that's two year old technology. 15:27 And we don't sell those type of covers. 15:29 If you want to get type of cover, 15:32 I'm sure it's gonna be hard to get it now. 15:34 You know, of course, they're going to tell you, 15:35 it's hard to get because they want to make a sale 15:37 because that's the exact direction they went. 15:40 They went right to the approach of... 15:45 Well, since you don't have the upgraded phone, 15:47 why don't you purchase one? 15:49 I have a great deal for you. 15:51 And there are a lot of people out there 15:53 that would love to get that type of phone 15:55 that technology you currently have. 15:57 So if mine is in such high demand, 15:59 why do I need to get a new phone? 16:02 And his comment back was, well, here, 16:05 if you really want to get those type of things, 16:07 you need to buy a new phone. 16:09 And, when you get the new phone, 16:11 you don't have this type of two year old technology. 16:14 You will be able to get 16:16 all of these new features on this smartphone. 16:18 And he was hounding me, he was doing the hard sell. 16:22 He wasn't letting me out of the door. 16:23 In fact, he was standing 16:25 in front of the exit area to the store, 16:27 trying to get me to buy a phone, 16:28 giving me all the offers. 16:30 And hey, by the way, 16:31 I think, I can get you a free deal 16:32 where you won't have to pay via contract 16:35 and all these type of things. 16:37 Well, you know, I can see through that 16:39 and I realized that I have a budget 16:41 and I realize that I didn't have any expectation 16:45 of going to spend money on a new smartphone. 16:49 So I was held to that contract 16:52 that I had at home with my family. 16:54 And I wasn't intending to go and buy anything. 16:56 So I knew that he wasn't going to get me at that time. 17:00 And I was able to say, look, I'm not interested. 17:03 I guess I can go online. 17:04 I can find, what I need, I'll buy it from other, 17:06 some other resource. 17:08 Because I'm not here to buy any kind of new smartphone, 17:11 I'm here to get what I was looking for. 17:14 Control your lives, 17:17 control what it is you want to accomplish every day. 17:20 Because every day, you go out of your door, 17:22 there are influences, the media, 17:24 there are many different individuals 17:26 that want to take your time. 17:27 They want to take your money and they will hound you, 17:31 and manipulate you into buying that object 17:35 that they would like to have you purchase. 17:39 A budget is key, a budget is essential, 17:42 and that smartphone that you have, 17:44 take a look at what you have with a smartphone. 17:47 Many of us are purchasing additional minutes 17:50 that we may not necessarily need. 17:52 Did you know that there are apps 17:54 that help you with texting? 17:55 So you're paying for fees 17:56 through your smartphone organization 18:00 for that type of service 18:03 when you may not necessarily need it, 18:05 you could get it through an appropriate app 18:07 that you could download. 18:09 You can actually cut back on a variety of different areas, 18:12 based on the technologies 18:13 that are available in that smartphone, 18:15 and you can cut your expense by almost half. 18:20 How many minutes do you use? 18:21 Call up your organization that has the contract 18:26 with your smartphone and ask them. 18:28 How many minutes am I using on an ongoing basis? 18:30 But you might find that, I have a 1,400 minute plan 18:34 when I'm only using, 300, 400, and 500 minutes. 18:37 They will get you to pay the $140 to $150 a month 18:41 when all you really needed was a $75 a month contract. 18:45 And when you look at $150 to $200 a month 18:47 that's close to $2,400 a year 18:50 that now is going towards the use of a smartphone. 18:54 And that $2,400 is in addition to the fact that many people, 18:59 because they haven't really thought through their budgets, 19:02 also have a landline. 19:04 They also have internet services 19:06 that may have high capacity bandwidth 19:10 to download information which could mean 19:12 you could go with that technology, 19:15 utilizing the internet for your phone service. 19:18 So there could, you could cut your phone bill 19:22 in half or even to into a third 19:24 if you thought about how you utilize the phone, 19:27 what you use the phone for. 19:29 And many people are now 19:31 no longer going with landlines at home 19:33 because they have a smartphone that goes wherever they go. 19:37 And you may even opt for international service 19:39 on your smartphone 19:40 and get rid of the home service for your long distance calls. 19:44 There are many different ways of approaching 19:47 the same destination. 19:48 And that destination has to do 19:50 with cutting your bills in half or into a third 19:54 where you can save that money 19:55 and put it into some other area. 19:57 And it's essential that you start looking at it 19:59 from that perspective. 20:00 Because if you are actually in debt, 20:02 which a budget will tell you that you are, 20:05 then you can begin the process of taking that extra funds 20:08 you save in this area 20:10 and start putting it 20:12 towards paying down the debt that you have. 20:14 And that's just one area of your budget. 20:17 So as I ask you to look seriously at 20:20 what you spend your money on, 20:22 where your expenditures are, 20:25 what it is that you like to do, how you can cut back, 20:29 I will guarantee 20:31 that if you look at a budget and fill that whole thing out 20:35 and then assess where you're at and how much you're spending. 20:38 You'll be surprised at 20:40 how much money is actually going out, 20:41 if not everything that comes in is going out. 20:45 And just a little bit of analysis could cut 20:48 your expenses significantly. 20:52 I've actually done this type of process on an ongoing basis 20:56 where I have those people in the seminar 21:00 go through an actual budget form 21:01 and, we all, 20 of us, 30 of us whatever number is there, 21:05 we talk about this budget. 21:07 And we go through it line, by line, by line, 21:09 and we tease people at times. 21:10 So I mean, how much money do you make per month? 21:12 How much money do you want to make for month? 21:13 Oh, I'm going to make $5,000 a month. 21:15 And you know what? 21:17 You also probably have a part time job, right? 21:18 No, I don't. 21:19 Well, why don't we put it in 21:21 because you're going to need it? 21:22 No, I won't. 21:24 I can live under that $5000 level. 21:27 Well, can you? 21:29 Because when we go through that budget 21:32 and we go through every line by line, 21:34 it's interesting you can pick up 21:36 certain bits of information when you ask, 21:38 what is your water sewage and trash collection bill? 21:44 Well, I don't know. 21:45 How much do you spend on cable on a monthly basis? 21:48 I'm not quite sure, I have to check on that. 21:51 What is it that you do? 21:53 Or how much money do you spend 21:54 in reference to going out to eat? 21:59 What is your expenditures for that type of thing? 22:02 I'm not sure but then we start talking about those elements 22:05 and it's quite interesting. 22:07 How much does it cost to go out and get a dinner for four? 22:11 A dinner of four at any type of retail establishment, 22:14 is probably going to run you what? 22:16 About $60? 22:18 Let's say that's a convenient bill 22:19 of $60 at one time to go out to dinner. 22:22 If you do it once a week, which is what most people say. 22:25 We like to go out at least once or twice a week. 22:27 So now you're looking at a number called let's say $50 22:31 each time you go out to eat, 50 twice a week, 22:35 that's $100 on each week, 4 times a week. 22:39 So that's $400 a month in bills 22:45 that you get for going out to eat 22:46 at any type of restaurant. 22:49 And then, you take a step back and you realize 22:51 that they haven't really thought 22:52 through the fact that this is a major bill. 22:55 Because a family of four, 22:57 typically groceries is about $550 plus a month 23:01 to just handle groceries for a family of four. 23:03 So you're not only spending 23:05 $550 plus a month for groceries, 23:08 you're also spending $400 a month 23:10 to take people out to eat. 23:11 So that's close to $1,000 for food every single month. 23:16 And you go down, 23:18 again, I ask this question as we're going through 23:21 the automotive part of the budget. 23:24 It's got, how much does it cost 23:25 to drive your car on every mile. 23:29 People haven't really thought about that. 23:31 There is a actual cost that you have to drive 23:33 your car down the road. 23:34 And I actually break it down to per mile. 23:37 My car costs about 40 cents a mile 23:40 to drive from the beginning, when I bought it up until now. 23:42 And how do I get to that number? 23:44 Here's a simple way to look at it. 23:45 Look out the mileage on your car 23:48 and then if you had it for two or three years, 23:52 let's say you have 50,000 miles on the car. 23:55 Then look at the costs 23:57 that it took to acquire that car. 23:59 The costs that it took to maintain the car, 24:03 the costs that it took to put gas in the car, 24:07 the total costs associated with that car. 24:10 And you can then take your total mileage 24:15 into the amount of money you spent on the car. 24:18 And it will give you a per mile number minus 40 cents. 24:21 I took 250,000 miles on my car 24:25 and divided it into about $100,000 I've spent on the car. 24:30 You think, that's a lot of money? It is. 24:33 Over 14 years, I've spent about 24:35 $103,000 on that car that I have. 24:39 To maintain, to put gas in it, just pay for the car, 24:41 and to pay it off. 24:42 So it took about, 24:44 it's a $26,000 car it took about, 24:47 how many years to pay it off at a certain interest rate. 24:49 So it's about $32,000 just for the car itself. 24:53 It costs about $3,600 a year for gas, 24:58 over the course of 14 years. 25:00 You can see what that is like. 25:02 And then, of course, to maintain, 25:04 to fixed, to upkeep, to take care of the car, 25:06 to change the tires was the remaining portion. 25:08 So, about $103,000 total 25:12 over the past 14 years to take care of a car. 25:16 And then I have 250,000 miles on the car. 25:18 You divide that 100,000 by the 250,000 miles 25:23 and you come up with a figure 25:25 and that figure is 40 cents a mile. 25:26 And you ask people, 25:27 "Do you know how much it costs you 25:29 based on the mileage every month?" 25:31 "Oh, I drive about 15,000 miles a month." 25:34 Now you know exactly how much on a monthly basis 25:37 your car is costing you, 15,000 miles a month, 25:42 and if you're spending close to at 50, 60, 70 cents a mile. 25:46 Did you know certain luxury brands 25:48 cost $1.80 cents a mile to drive? 25:53 And when you begin that kind of evaluation of your budget, 25:57 you begin to see certain things 26:00 that stand out to you and your budget. 26:04 It's really kind of interesting that when you can graph it 26:08 and look at where my major expenses are, 26:10 I can tell you, yes, my household expenses 26:13 are going to be the vast majority 26:15 of my total expenses on a monthly basis. 26:17 But what else jumps out at me. What happened this last month? 26:20 Why in November did my food bill jump about 20% 26:25 than it was the previous month? 26:27 Well, of course, there is the holidays. 26:30 There's Thanksgiving, you're spending more. 26:32 You have guests coming over to your house. 26:34 So you can assess those type of things 26:36 and put things in certain perspective, 26:39 that is key. 26:40 Because when you take a look at the single biggest impact 26:43 to anyone's budget right now, 26:44 the story they have out there in the internet, 26:46 it says, is that smartphone. 26:48 But what is your major area of concern? 26:50 Have you looked at your budget yet? 26:52 Do you know how much it costs per mile to drive your car? 26:55 Take a look at it from an evaluative standpoint 26:57 and you will begin the process 26:59 of now getting excited about looking at the numbers. 27:03 Understanding how the numbers work for you. 27:05 Figuring out how I can better make this budget 27:09 that I have that I develop, 27:12 the best thing that God can use. 27:15 And that I can begin the process of saving 27:18 and putting money towards His kingdom. 27:23 And, oh, by the way, that budget sheet, 27:26 when we go through the whole budget sheet, 27:28 that they make now $5,000 a month plus 27:32 the $1,000 in extra income, 27:34 every time we come down 27:36 to the bottom of that budget sheet, 27:38 it's in the red. 27:40 People don't realize that unless you budget 27:43 and assess your specific dynamics, 27:47 you're probably spending more than what you make. 27:52 Take a look at your budget, 27:53 and take it to the bank, and save. 27:56 God bless you. |
Revised 2017-02-24