Workshop on Personal Finance
Week 3

Budget Killers: Plan for them
“Unexpected” expenditures
Set up an emergency fund
Amount depends on obligations
Decide what it’s for and how to re-save it
Basic major medical health insurance
Gifts, non-monthly bills, seasonal clothing

Major Purchases: Plan for them
Auto
Reliable used cars, keep them a long time

Biblical Budgeting

Stewardship

Debt and Borrowing

Where Do We Stand?

Dealing with Collectors

Budget Killers

Basic Budget

Debt Repayment

Saving for cash purchase or a lot down

Household: furniture, renovate, landscape

Vacations: plan for relaxing family time

“Cash Flow” Timing
Make a chart to list time of month for regular expenses
Assign expenses to each paycheck
Months with a third paycheck: what to do?

Biblical priorities
We want to “do it all”
Items differ in importance
Start with the basics
Mindset: spending beyond the basics is discretionary
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