We believe there are four essentials that you need to establish as you begin to travel the road to financial freedom. The four essentials are: (1) establish financial objectives, (2) develop a budget, (3) save for an emergency fund, and (4) track your spending.
The first essential is to consider your financial objectives. Financial objectives are your target, what you are aiming for. They can be broad and long term such as having no mortgage in ten years or establishing college savings for your new baby. Your financial objectives can be specific and short term such as paying off a credit card in six months. Your financial objectives can be anything that charts your course to financial freedom. They set your path and give you direction. Without objectives, you have nowhere to go. Prayerfully consider what they are and approach them with knowledge about your current situation. Our personal financial objectives include getting out of debt in 3 years, completing our Imagine 2 commitment with strength, tithe every year off of our gross income, save as much as we can for our daughter's college education, and save for a 50% downpayment on a new house.
What are some of your financial objectives?
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