Workshop on Personal Finance
Week 3

Where do we stand?
A closer look at what we owe
Fill in debt chart (workbook, p.13)
Minimum monthly payment required
Use repayment charts for “until when” projections
Project payments required for slow & rapid payback
Are any behind? By how many months?

Relational implications?

Pay back $10,000 at 13%

Biblical Budgeting

Stewardship

Debt and Borrowing

Where Do We Stand?

Dealing with Collectors

Budget Killers

Basic Budget

Debt Repayment

$110/month for 32 years
$120/month for 18 years
$150/month for 10 years
$200/month for 6 years
$300/month for 3.5 years
$500/month for 21 months
$700/month for 15 months

Signs of excessive debt
Unable to match your burden for giving
Unable to reduce hours for ministry opportunity
Collectors . . .

What If???
You’re so far behind on payments that . . . . You’re getting calls from collectors
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