"Guaranteed Success Financially"

Stewardship Lesson #8

Guaranteed Success Financially

Do you remember the Biblical principles of finances? Recap them now.

First, God owns it all. Second, money is never an end to itself, but is merely a resource to accomplish other goals & obligations. Third, if you spend less than you earn & do it for a long time, you will be financially successful.

Time & consistency are the two words that are your friends in financial planning. If you can save the same amount every week & consistently do it, you will be financially successful.

Look at the chart below. In it are listed the rates of accumulation of money using the principles of time & consistency. Suppose you have a goal to accumulate $65,000 for college. You have six years to do so. How much actual money do you need to be able to do this?

As you look at this chart, consider the rate of accumulation by means of interest alone. Is this a wise use of money? In light of the parable of talents, what do you think God would think about a decision to place money in savings at a good interest return?

Compounding of Money

Time + Consistency

%	5 Years	10 Years	20 Years	30 Years	40 Years
6%	$13,382	$17,908	$32,071	$57,435	$102,857
10%	$16,105	$25,937	$67,275	$174,494	$452,593
20%	$24,883	$61,917	$383,376	$2,373,763	$14,697,716

Recap:

Money can make money for you if you use the principle of time & consistency. Restate on paper the principle of time & consistency & explain how it works.