Debt Freedom
Session 5 – Q&A and Resources
Citibank offers Biweekly
Enrollment fee: $375
Transaction fee: $1.50
Do-it-yourself: FREE!
 Banking
 Buying a car
 Credit
 Financing your
education
 Investing
 Insurance
 Identity theft
 Much, much more
Available online at: www.ConsumerAction.gov
Resources: Debt Reduction
http://www.mint.com/blog/goals/your-bailout-slash-your-credit-card-debt/
http://www.credit-factor.com/debtfree/10-steps-to-reduce-personal-debt
www.fact-sheets.com/loans/managing_personal_debt/
Resources: “Gurus”
http://www.daveramsey.com/articles/article-list/category/lifeandmoney_debt
http://www.clarkhoward.com/categories/personal-finance-credit/
http://www.suzeorman.com/index.cfm
Resources: Budgeting & Planning
Personal financial planning
http://financialplan.about.com
http://www.ehow.com/how_4590322_personal-savings-plan.html
How to create a personal savings plan
http://financialplan.about.com
Teenagers spending/savings plan
http://www.wisc-online.com/objects/ViewObject.aspx?ID=ABM3102
Resources: Credit Score & Forgiveness
Free credit reports from all 3 agencies
https://www.annualcreditreport.com
http://www.freecreditreport.com/
FICO
http://www.myfico.com/crediteducation/creditscores.aspx
Loan Forgiveness
www.finaid.org/loans/forgiveness.phtml
http://www.fact-sheets.com/loans/managing_personal_debt/
Q&A
Debt Freedom: Financial
Stewardship Education
 The Debt Freedom Series is part of the overall financial
stewardship education offered here at the ROHCC.
 Financial stewardship education is learning what God
has to say about this area of our lives, then recognizing
His authority over our lives and possessions.
 The fact that God put all things, including money, at
our disposal means we have an obligation to use them
according to His plan.
 Therefore, we must seek His wisdom and
understanding through the study of His Word.
Crown Financial
Biblical Study
 The Crown Financial Biblical Study offering includes all the
ingredients of a how to achieve financial freedom coupled
with personal attention from the teachers, accountability
for follow through, and the building of healthy
relationships. The study helps participants to implement
biblical financial principles.
 Over a ten-week period, the participant's track spending
habits, develop a plan to reduce debt, develop a financial
statement, financial goals, and a budget. Crown Financial
combines Bible study, prayer, fellowship, and practical
applications in a way that leads to spiritual growth as well
as financial freedom.
 Crown Ministries has helped many of our members commit
to faithful Christian Stewardship, personal spiritual growth,
and increased ability in money management.
Well Known Financial
Stewardship Programs
Crown Financial Ministries®
Financial Peace University (FPU)
Founded in 1976, is an
interdenominational ministry dedicated to
equipping people around the world to
learn, apply, and teach biblical financial
principles. Crown has taught or equipped
more than 50 million people in over 80
nations with the life-transforming message
of faithfully living by God’s financial
principles in every area of their lives. The
ministry is located in the United States,
Canada, Latin America, South America,
and Africa, and is expanding into Europe,
India, Asia, and Australia. Crown relies on
approximately 250 employees and over
10,000 passionate volunteers worldwide to
help ignite True Financial Freedom around
the globe.
A biblically-based 13-week video training
series for adults, and a companion series
targeted at teenagers that has been
offered in schools across the nation.
Some topics covered in the series are
cash flow planning, investing, saving,
credit, retirement, and giving. It is Dave
Ramsey’s life-changing program that
teaches you to achieve your financial
goals by eliminating debt, saving for the
future, and giving like never before. More
than 1 million families have attended FPU
with amazing results. You will be
challenged and motivated to make a plan
for your money and change your family
tree forever!
COMPARE
Crown Financial Ministries®
Financial Peace University (FPU)
MISSION
STATEMENT:
Equipping people worldwide to learn, apply, and
teach God’s financial principles so they may know
Christ more intimately, be free to serve Him, and
help fund the Great Commission.
To empower and give HOPE to everyone from the
financially secure to the financially distressed.
STRENGTHS:
Crown Financial Ministries provides a very strong
teaching that is heavier on the Biblical basis for how
to handle money. It is delivered in a loving way that
is sure to fill someone with hope.
Dave has gone through bankruptcy, made his way
back and is a millionaire. He often chronicles his
mistakes, and shares how he was victorious. Most of
his best advice comes when talking people down
from the edge of financial ruin and giving them hope.
ACTION
PLAN:
Your Money Map: A Proven 7-Step Guide to True
Financial Freedom.
•Destination 1 – Save up $1,000.
•Destination 2 – Pay off all credit cards, increase
savings to 1 month living expenses.
•Destination 3 – Pay off all consumer debt (cars,
furniture, student loans), increase savings to 3
months living expenses.
•Destination 4 – Save for major purchases (car,
home, etc), save for retirement, children’s education,
starting a business.
•Destination 5 – Buy a home (affordable), begin
investing wisely, and start prepaying the mortgage on
home.
•Destination 6 – Home mortgage paid off, childrens’
education funded, estate plan in order.
•Destination 7 – True Financial Freedom: retirement
funded, free to be more generous with my time and
money.
Baby Steps from “The Total Money Makeover: A
Proven Plan for Financial Fitness”
•Baby Step 1 – $1,000 starter emergency fund.
•Baby Step 2 – Pay off all debt using Debt Snowball
(except mortgage).
•Baby Step 3 – 3 to 6 months living expenses in
savings.
•Baby Step 4 – Invest 15% of income in Roth IRA’s.
•Baby Step 5 – College fund for children.
•Baby Step 6 – Pay off home early.
•Baby Step 7 – Build wealth and Give!
Which Program?
 For FPU, Dave Ramsey began counseling couples at his local church. Soon
after offering private counseling services, Ramsey began attending every
workshop and seminar on consumer financial problems that he could find. He
developed a simple set of lessons and materials based partially on his own
experience and on works and teachings by Larry Burkett (co-founder of
Crown) and Ron Blue. In 1992, after many requests from his clients, he wrote
his first book Financial Peace.
 Its message is similar to the message given by financial talk show host Dave
Ramsey, claiming that getting out of debt and controlling one's expectation of
living are two important parts of Christian discipleship. In fact, Dave Ramsey
credits the late Larry Burkett as one of his mentors who helped him get out of
debt and form his thoughts and ideas on finances.
 When looking into Crown and Financial Peace, it appears that Crown’s
focus was more internal while Financial Peace had the potential for more
participants outside of the church (outreach).
 We believe this is the reason that some churches choose to host both
Crown and Financial Peace classes.
We humbly thank you
for your attention
during this series and
for your focus and
your determination to
make a difference in
your lives and in our
community!
And thank you, Pastor
Hale, for your vision,
your courage, and for
the confidence in us to
deliver God’s Word
through these
teachings.