Biggest Financial Mistakes With Ron Blue

Some people have to learn things the hard way. But you don’t have to be one of them! We’ll talk to Ron Blue about some of the biggest financial mistakes you want to avoid, on this Faith and Finance. 

Ron Blue the author of Master Your Money: A Step-By-Step Plan For Experiencing Financial Contentment, among many other great books.  

• We’ll talk about a few financial mistakes Ron warns about in Master Your Money:
• 1. Not having goals. They say if you aim at nothing, you’ll hit it every time. Without goals, it’s difficult to even recognize success or failure. Goals help put boundaries around your spending. 
• 2. Having a “consumptive lifestyle.” A consumptive lifestyle is a way of life that significantly exceeds your needs. This isn’t to say that you can never spend money on things you merely want rather than need. But ask the Lord to show you where to draw that line. Don’t allow the desire for more material possessions to drive your financial decisions. 
• 3. Not having a budget. If you don’t decide ahead of time where your money is going to go, it’s certain that it won’t end up there. People tend to think of a budget as something that constrains them. But really, it’s liberating. It allows you to better control the money God has entrusted to you. A budget is really just pre-planned spending. 
• 4. Not giving and tithing. We’re not talking about a legalistic 10%, but rather giving to God off the top of your income in recognition of His ownership. People tend to think of giving as giving out of surplus, rather than giving out of income. And if you don’t tithe, you’re not experiencing financial freedom. God wants us to tithe not because He needs the money, but because He wants your heart. 

On this program, Rob also answers listener questions: 

• What are a few good options for opening an online savings account?
• How much should you have in a savings fund and in an emergency fund? 
• How do you determine how much giving you should do? 
• When does it make sense and create a trust for your heirs? 
• When does it make sense for a senior individual to stop paying for a cash value life insurance? 

RESOURCES MENTIONED:

• Ally Bank
• Capital One 360 Checking
• Marcus
• BankRate.com

Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach.

Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.