Glory Of The Latter House Budgeting & Personal Finance By Niyi Adeoshun CUNAA UK/Europe 2015 Convention

Glory Of The Latter HouseBudgeting & Personal Finance

By

Niyi Adeoshun

CUNAA UK/Europe 2015 Convention

Niyi Adeoshun• Financial Software Developer• Money Management Coach• Inspirational Speaker• Author – Milestones of Financial

Freedom -- Price of Financial Freedom -- Financial Legacy

•http://www.niyiadeoshun.com

• Music Director• Married – 3 Boys

Budgeting & Personal Finance

• Debt is a way of life• 40hrs – 40years – 40% of wages• Minimal State Pension• Little or nothing set aside for

emergencies• Unable to fulfil God’s calling

properly

Current Situation:

Money talksWhat is yours saying about you?

• Cash – PAST hard work, time, pain

• Cheque – PRESENT spending power

• Credit – FUTURE income


Credit ReportWhat your past spending is saying about your financial present and future

• Balance SheetNet Worth = Asset – Liabilities

• Credit Report & Credit Score– Payment History (and length)– Loan and Outstanding amounts– Recent loans etc

• Get a copy of your credit report at least once every year.


How much is enough? You need money to:

• Provide for your household -1Tim 5:8• Good gifts to children – Matthew 7:9-11• Pay all bills on time – Deuteronomy 28:2, 5• Pay taxes – Matthew 22:21• Have a savings account –Deut 28:5• Fund a proper retirement plan – Proverbs

6:6-8 • Never have to borrow to live – Proverbs

22:7• Give to the poor – Mark 14:7


• Lend to those who ask – Matt 5:42• Contribute your share to the better-

than-average standard of living of your minister(s) – 1Tim 5:17-18

• Be able to do your part in sending the gospel of Jesus Christ to the world


Do you have enough to fulfil the above?

For most people, the answer is ‘NO’ and the reason is usually – DEBT!

No Control!!

The Dangers of Debt• Debt presumes on the future –

Proverbs 27:1• Debt lowers future standard of living –

you are either preparing or repairing• Debt leaves people at the mercy of

compound interest• Debt could delay God’s plan by

providing instant gratification• Debt clouds the line between needs,

wants and desires


Life Goals and Purposes

• What do you want your life to count for?

• Set life goals• Set financial goals• Get a verse that suits your purpose in

life and memorise it• Write all the above down, sign it and

date it


5 Principles of a Firm Foundation

• God owns everything – Psalms 24:1• We should be faithful managers of HIS

resources – 1 Corinthians 4:2• Allow God to take control of your

finances – you can’t do it alone• Faithfulness in finances require self-

control• Celebrate every foothold you gain – it

will remind you of the faithfulness of God


• Know the state of your flocks, and put your heart into caring for your herds, for riches don’t last forever, and the crown might not be passed to the next generation.25 After the hay is harvested and the new crop appears and the mountain grasses are gathered in, your sheep will provide wool for clothing, and your goats will provide the price of a field.27 And you will have enough goats’ milk for yourself, your family, and your servant girls.

Proverbs 27:23-27 (NLT)

Create a spending plan (budget)

• Objectives– Maximise Your Income– Minimise Your Expenses– Prepare For The Future


Create a spending plan (budget)

1. Identify your income.2. List your expenses.3. Compare income and expenses.



Maximising Your Income

• Consider career and personal development.

• Get necessary certifications.• Turn your hobby into a business.• Get additional sources of income• Sell some unused & unneeded

stuff

Stretching Your Pounds

• Buy new - only when necessary.• Shop for sales and ask for discounts.• Use shopping plans & shopping lists.• Eat at home and pack lunches.• Use coupons and buy in bulk.• Maintain your own car or use public

transportation – if necessary• Watch out for money leaks


I am a Hero who has: a WILLLife Insurance(1 Timothy 5:8)

The Latter House

• Welcome to Financial Freedom

– The state of financial well-being that frees you to obey God totally and invest into His kingdom unhindered.

– It is the point at which you stop slaving to survive and start living to enrich the lives of others


Conclusion

• Invite God into your financial situation

• It is about emotions• It is about habits• It is not too difficult to make

improvements• Progress is better than perfection


Documents

Glory Of The Latter House Budgeting & Personal Finance By Niyi Adeoshun CUNAA UK/Europe 2015 Convention