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How To Avoid Major Money Mistakes

Wisdom And Wealth, part 2 of 3
The source of most money problems is not what happens to us financially, but rather, how we in fact handle our finances. The most fundamental mistake people can make with respect to their money is to simply blame their financial plight on circumstances outside of their control. The wise person can weather financial storms because they have learned how to protect and manage their money so that they avoid making major money mistakes. Looking at a mythical example of what really has occurred at Lakeshore and at other churches, we’ll examine some of the biggest money mistakes that people make and how to avoid them so that you can build wealth through wisdom.

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“Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.”
(1 Timothy 6:17-19, NIV)

I) THE MOST COMMON MONEY MISTAKES

1) ___CREDIT-LINE PURCHASING___.

“Don’t withhold payment of your debts. Don’t say, ‘Some other time,’ if you can pay now.”
(Proverbs 3:27-28, LB)

2) ___DELAYED PAYMENT PLANS___.

“Let no debt remain outstanding, except the continuing debt to love one another…”
(Romans 13:8a, NIV)

3) ___IMPULSE BUYING___.

“For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
(1 Timothy 6:10, NIV)

4) ___RISKY INVESTMENTS___.

“Steady plodding brings prosperity; hasty speculation brings poverty.”
(Proverbs 21:5, LB)

5) ___IGNORING SOUND STEWARDSHIP___.

“Will a man rob God? Yet you rob Me. But you ask, ‘How do we rob You?’ In tithes and offerings.”
(Malachi 3:8, NIV)

“The wise man saves for the future, but the foolish man spends whatever he gets.”
(Proverbs 21:20, LB)

II) THE MISERY OF MONEY MISTAKES

1) Your family comes under ___PRESSURE___.

2) Your time is locked into ___DEBT PAYBACK___.

3) Your walk with God is ___HINDERED___.

III) MOVING BEYOND MONEY MISTAKES

1) Experience a financial ___CHANGE OF HEART___.

“Keep your lives free from the love of money and be content with what you have, because God has said, ‘Never will I leave you; never will I forsake you.’”
(Hebrews 13:5, NIV)

2) Explore a careful plan to ___PAY BACK CREDITORS___.

“Good planning and hard work lead to prosperity …”
(Proverbs 21:5a, NLT)

3) Eliminate all future ___UNNECESSARY SPENDING___.

“The rich rule over the poor, and the borrower is slave to the lender.”
(Proverbs 22:7, NIV)

4) Engage all your ___FAITH IN JESUS CHRIST___.

“What is impossible with men is possible with God.”
(Luke 18:27, NIV)

“But God has now brought you to life in Christ; God forgave us all our sins. He cancelled the unfavorable record of our debts, with its binding rules, and did away with it completely by nailing it to the cross.”
(Colossians 2:13b-14, TEV)

“‘Bring to my storehouse a full tenth of what you earn… Test me in this’, says the Lord. ‘I will open the windows of heaven for you and pour out all the blessings you need.’”
(Malachi 3:10, NCV)