3 Steps To Create Your Own Financial Game Plan

Everyone’s situation is different. Sure, there are general principles that everyone should follow, but the small details of your financial game plan are up to you. In this article, I hope to help you explore some of your own smaller goals, and how you might handle the variety of game changers that might be thrown your way. This is all about creating your own financial game plan. It’s about you taking charge of your money, and telling it where to go! There are also little things you can do (like looking at different banking options ) to save you some money. Are you ready? Let’s begin. 1. Remember Your Purpose When you’re designing and navigating through your financial plan, the last thing that you want to do is forget your purpose. Your purpose is not to become wealthy so you can live on a tropical island with no cares in the world. Nope, your purpose is to bless your family and bless others. Your purpose is to make a lot of money and give it away. Give away millions ! Remember that the love of money is to be avoided throughout your financial journey. Remember that it says in the Scriptures: Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs. But you, man of God, flee from all this, and pursue righteousness, godliness, faith, love, endurance and gentleness. – 1st Timothy 6:9-11 NIV 2. Find a Financial Outline When you’re designing your big picture financial outline, it helps to study other’s proven methods for financial fitness. I’m a fan of Dave Ramsey, and his 7 Baby Steps might be a great place to start. You could also try Crown Financial’s plan, which is very similar to Dave Ramsey’s plan. If you’ve been on Dave’s plan for a long period of time, you know that when you get past Baby Step 3 you have some decisions to make. Do you: Save up some money so you can go back to college? Throw all your extra income into that dream car you’ve always wanted? Build up your savings for a down payment on a new home? Get braces for yourself, at the urging of your orthodontist? Take a vacation – after all you paid off all your non-mortgage debt! This is where the next step begins . . . . 3. Learn How to Prioritize Small Steps All of these potential goals come with it all kinds of feelings and emotions. You may not want to get the braces, but instead fund your vacation. But you know, in the back of your mind, you have to get those braces or you might have major dental issues in the future. Or perhaps you feel like you should be funding college instead of investing right now. That seemingly goes against Dave’s Baby Steps, but does it in your situation? Alright, here are some things to keep in mind when you are trying to prioritize smaller steps : Ask yourself what your grandmother would want you to do. Yes, this one seems a bit silly, especially if you’re a grown adult, but it usually works. Would you make grandma proud by making the choices you are making? Ask yourself what eliminates the most risk. Go through your list of goals and ask yourself what takes the most risk out of the picture. The urgent tasks are the ones you should do first, as when they are completed, you’ll be less at risk. These usually have to do with your health and wellbeing. Ask yourself what gives you the most return on your investment. When you are deciding between two goals, prioritize the ones that give you the most return on your investment. In my college example, you might be surprised to realize that what gives you the most return on your investment is a quality education. Once you master these three steps, you should have a solid game plan. But do you want to know a secret? The game plan is sure to change. Reassess your game plan at least once a year, or when something significant changes in your life. Pray for God’s guidance as you live life – and enjoy the process! What step are you on in your financial game plan? Do you have a question for John or the other readers of ChristianPF about what step you should be on? Meet us in the comments! Related Articles: Juggling The Baby Steps: What Next? Where Should You Throw Extra Income? Reaching Financial Goals: How To Appropriately Prioritize 4 Steps to Get Your Finances Under Control How to Assess Your Investment Risk From Fruition to Tuition | FPU Review #10 Your Nest Egg Game Plan | Book Review John Frainee is a personal finance writer at TheChristianDollar.com . His goal is to provide biblical financial principles that encourage people to live healthier lives. Beyond personal finance, John enjoys spending time with his wife and two crazy cats, playing a competitive game of Monopoly, and reading just about anything he can get his hands on. You can also find him on Twitter and Facebook . The articles on this site are for entertainment purposes and should not be taken as financial advice. Please contact a financial professional for specific advice regarding your situation. Also, many of the CPF articles help us pay the bills by using affiliate relationships with Amazon, Google, eBay and others. Find out more here .

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3 Steps To Create Your Own Financial Game Plan

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