Christ and Cash — Lesson 2
March 23, 2010
Christ and Cash – A Focus on Our Finances
Lesson 2: “Baby Steps Toward Financial Health”
Adult Sunday and Wednesday Bible Study
West Broad Church of Christ
March 17 and 28, 2010
Dr. J.L. Nesmith, Jr., Facilitator
(Resource: Dave Ramsey, The Total Money Makeover)
Review and Introduction:
We discussed in some detail America’s (and our) love affair with debt. We talked about the many false thoughts we have regarding debt. We recalled that financial health is more about what we do than what we know. And we ended with a challenge toward new thinking that will promote new actions.
We will now begin a consideration of the actions that flow out of a changed heart. What are those actions, and how do they impact us? What are the biblical implications of those actions? Open your mind and Bible, and we shall see.
I. Baby Steps: The Concept
How does the idea of “Baby Steps” apply to our financial health?
· On Eating an Elephant. Understand that going everywhere is going nowhere.
§ The importance of a plan
§ A biblical perspective
§ A message from music
Question: As you assess this discussion, how would you “prioritize” the steps you need to take toward financial health?
II. Roadblocks to Baby Steps
Two roadblocks often keep us from taking the path of “Baby Steps.”
· Considering Risk Denial
§ four levels of protection
· Considering Easy Money
§ A study of sales
Removal of these roadblocks allows us to see more clearly the steps we need to take toward better financial health.
III. Baby Steps Revealed
Ramsey’s Total Money Makeover plan involves five baby steps . . .
· Baby Step 1 – Save $1,000 As a Starter Emergency Fund
· Baby Step 2 – Start a Debt Snowball
· Baby Step 3 – Finish Your Emergency Fund
· Baby Step 4 – Invest 15 Percent of Your Income in Retirement
· Baby Step 5 – Save for College
Conclusion:
There is one prevailing truth that must be embraced as you consider your financial future: nobody can build and preserve your financial health except you. With that truth in mind, the rewards or consequences will be yours. The question is, “Which will you choose?”
