1. Managing Your financial maze
Presented By Andrea Gordon

2. Who is andrea Gordon? A child of God
Wife to Stuart Gordon, pastor of Brakpan Baptist Church
Financial Manager at TWR

3. Why am I here?

4. Proverbs 3:5-10 New International Version - UK (NIVUK)
5 Trust in the Lord with all your heart     and lean not on your own understanding; 6 in all your ways submit to him,     and he will make your paths straight.[a]
7 Do not be wise in your own eyes;     fear the Lord and shun evil. 8 This will bring health to your body     and nourishment to your bones.
9 Honour the Lord with your wealth,     with the firstfruits of all your crops; 10 then your barns will be filled to overflowing,     and your vats will brim over with new wine.

5. Your finance maze is all about making wise choices on how to use your money

6. Budgeting – what is it?
Budgeting is the process of creating a plan to use your money
A budget allows you to determine in advance whether you have enough money to do the things you need to or would like to do

7. Why is a budget important?
Following a budget ensures that you will always have enough money for the things you need and the things that are important to you
Following a budget or spending plan will also keep you out of debt or help you work your way out of debt

8. Common errors that lead to debt
BUYING TOO MUCH HOUSE
Too big
Too expensive
BUYING TOO MUCH CAR
Do you really need the Merc, or can you get buy with a second hand small car?
POOR PLANNING
CREDIT CARDS / BORROWING
EXPENSIVE HOLIDAYS

9. Steps to managing your finance maze
TRANSFER OWNERSHIP
To God.
If you believe that your money is yours alone, then you will not treat it with an attitude of stewardship

10. STEPS TO managing your financial maze
MAKE A PLAN TO BECOME DEBT FREE
CREATE A BUDGET
Write it down
Plan all expenditure in order of importance
Basic needs
Home, food, clothing, medical, transport, school
Wants
Fancy Clothes, Entertainment, New Car, Make-up, Jewellery
Emergencies
Savings / Retirement

11. StepS TO MANAGING YOUR FINANCIAL MAZE
THINK BEFORE BUYING
Is it a necessity? Have I assessed whether it is a need, a want, or a desire?
Does the purchase reflect my Christian ethics?
Is this the very best possible buy I can get, or am I purchasing only because I have this credit card?
Will it devalue very quickly? (New car versus second hand)
Does it require costly upkeep?

12. STEPs to managing your financial maze
PRACTICE SAVING
Develop a discipline of saving. Even if it is only a little
Even people in debt can save
ESTABLISH THE TITHE
You cannot say you have given God ownership if you don’t give to his work.
Give what you can afford until you have paid off debt
Once debt free, give more, give sacrificially

13. How to budget
Income
Less Expenses
Less Savings

14. expenses Tithe Tax Housing Utilities School Fees Insurance Food
Outstanding Debt
Medical
Utilities
Entertainment/Recreation
Clothing
Savings

15. Some hints Tithe 10% Housing 33% Food 15% Car 15% Debts 5%
Insurance 5%
Recreation 2%
Clothing 2%
Medical 5%
Savings 5%
Other 3%

16. Hints on grocery shopping
Written List
Avoid buying when hungry
Avoid processed foods and ready-made meals
Avoid sugary food (sugar tax)
Buy no-name brand
Leave the kids at home
Don’t drive far just because there is a sale

17. Get out of debt Destroy credit cards
Pay something even if just a little
Establish a payment schedule for all creditors
Contact creditors to arrange a payment plan
Buy cash only

18. Recreation hints Plan holidays in off-seasons if possible
Look for cheaper options like camping
Go somewhere off the beaten track
Avoid tourist traps
Watch movies on TV instead of at the cinema
Look for free outdoor activities instead of taking a gym membership

19. Saving hints Have a savings goal
Use a company payroll deduction if allowed
Set-up a monthly recurring automatic transfer to a savings account
When existing debt is paid off, reallocate that money to savings
Open a tax free savings account

20. Saving for retirement
Only 6 % of Americans have adequate retirement savings
Most South African on a company retirement scheme save 12% of their salary
Recommended to save 20% of your current salary to have a comfortable retirement
Start as soon as possible
Speak to a financial advisor for free advice