Financial Freedom Series: The 10-20-70 Principle (Part 6)

Welcome back to our Financial Freedom Series, where we’re looking into God’s Blueprint for Building Wealth and Managing Your Money Well!

We dive into biblical principles and cutting-edge money management wisdom to help you…

• Honor God with your money
• Build wealth
• Shrink your debt
• And build toward financial freedom

“But remember the LORD your God, for it is he who gives you the ability to produce  wealth.” (Deuteronomy 8:18) 

“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” (Proverbs 21:5) 

“I will guide you along the best pathway for your life. I will advise you and watch over you.” (Psalm 32:8) 

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

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

“But blessed are those who trust in the Lord and have made the Lord their hope and confidence. They are like trees planted along a riverbank, with roots that reach deep into the water. Such trees are not bothered by the heat or worried by long months of drought. Their leaves stay green, and they never stop producing fruit.” (Jeremiah 17:7-8) 

“Hope deferred makes the heart sick, but a dream fulfilled is a tree of life.” (Proverbs 13:12) 

It is your time to dare to dream. 
It is time to reset your goals. 
It is time to rekindle your passion. 
It is time to aim high. 
It is time to attempt great things with God. 
It is time to live on purpose. 
It is time to reignite your vision. 
It is time to be fruitful. 
It is time to get positioned for God to 
catapult you into your destiny. 

Your best days are ahead of you.

Today, I want to encourage you to MANAGE YOUR MONEY LIKE A PRO. 

To manage your money like a pro, you need to…

• Wipe out your debt
• Dare to dream and have goals and a vision for the future
• Get your priorities in order
• Create a financial plan that you can stick to in order to build toward financial freedom

If you want to manage your money well, you need to know where your hard-earned money is going. A good starting point is to create a budget.

“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” (Proverbs 21:5)

The 10:20:70 Principle in a Nutshell…

Managing your money like a PRO consists of three simple steps…

We have encouraged you to put God first and give Him your first 10%.

We have also suggested that you diversify your portfolio to reduce risk. 

We have encouraged you to get advice on how best to construct your wealth portfolio to ensure that it is aligned with your unique goals and objectives.

We have encouraged you to build up your short-term savings to ensure that you have funds available when life’s storms hit. 

But we have also encouraged you to start investing in growth investments that can generate real growth over the longer term. 

We have encouraged you to save and invest 20% of your income to build a cash reserve and a wealth portfolio.

Finally, once you have given 10% to God and set funds aside 20% of your income in savings and investments, I want to encourage you to live on the remaining 70%.

To get this right, you need to review your budget.

Review your financial priorities.

First, you need to cover your essentials, like a roof over your head and food on the table. Then, you can go after the nice-to-haves.

God’s word is clear: be careful with how you spend your money.

“The foolish man spends whatever he gets.” (Proverbs 21:20b)

It is so easy to spend money and to get into trouble. 

Many don’t know where their money is going. 

Live within your means.

If it feels like your money just disappears, seriously review your expenses and plug those spending leaks.  

Do you have a budget?

Above all, enjoy the journey.

“Even so, I have noticed one thing, at least, that is good. It is good for people to eat, drink, and enjoy their work under the sun during the short life God has given them, and to accept their lot in life. And it is a good thing to receive wealth from God and the good health to enjoy it. To enjoy your work and accept your lot in life—this is indeed a gift from God.” (Ecclesiastes 5:18-19)

Don’t just work yourself to the bone. 

Make sure that you take time out to smell the roses. 

Make sure that you enjoy the journey. 

Count your blessings. 

Be grateful for what you have. 

It is vital to get your financial priorities in the correct order. 

Put God first. 

Save before you spend.

Live on the rest.

By sticking to a 10-20-70 PRINCIPLE…

• You will be honoring God
• You will build up a cash reserve
• Over time, you will build a Wealth Portfolio to help you attain financial freedom

I encourage you to MANAGE YOUR MONEY LIKE A PRO.