Financial Fast Details
4 reasons:
1. Why a Financial Fast? To be set free from bondage in our lives.
2. Fasting for a better financial life, be set free from constantly consuming & invest
more.
3. Fasting to avoid Financial Drama, creditors calling, robbing Peter to pay Paul.
4. Fasting for Financial peace. To sleep well at night and relieve worry & anxiety.
5 tips for the fast:
1. Start each day with P.A.Y. = Pray, Apply Scripture, Yield to God's will (This process will
pay dividends higher that you could ever expect!)
2. Journal daily.
3. Highlight Bible Passages that speak to you and apply them.
4. Make sure you have an accountability partner that you talk to at least twice a week.
5. Review Progress.
Day 1 Twenty-One Days to financial freedom (My Financial commitment/Journal Page &
Spending Journal)
Change your lens, see what you have often thought of as yours as God's.
To see the manifestation of PROSPERITY in your finances you are highly encouraged to:
Only buy that which you NEED.
Use all cash for purchases for the next 21 days. No credit or debit Card use.
No eating out. Purchase only what you will need for breakfast, lunch, dinner and any
reasonable snacks for the next 21 days.
Only buy items that are necessary. No Chips, no movie tickets, & no shoes even if they are
on clearance, unless you don't have any to wear.
Really think about the items that you purchase throughout the fast & decide if they are a
want or a need.
Day 2 Promise of Prosperity: (Money in Motion! Journal Page & Spending Journal)
Favorite Scriptures for prosperity..... To who much is given much is required
Get peace in your finances
Prosperity is being able to give of your time, your talent and your treasure.
Create a financial legacy
Day 3: God's Generosity: (Journal Page & Spending Journal)
God prospers us so we can help others.
You have more than enough to give; you just have to see things as God sees them.
Day 4: Giving: (Journal Page & Spending Journal)
You can't afford not to tithe.
Tithing is giving 1/1Oth of your gross income.
You can afford to do it, so commit to giving 1st, 2nd pay yourself and then your obligations.
Day 5: The Evils of Entitlement: (Journal Page & Spending Journal)
Reign in on the things you need versus things you want.
You don't deserve what you can't afford; using credit cards to pay for wants will lead you to a
road of misery.
You have to pick and choose what you spend your money on, you can't buy it all. If you have
50" you don't need a 70".
Day 6: You Can't Buy Contentment (Estimated Budget, Journal Page & Spending Journal)
Learn to be happy with what you have been blessed with!
Count the blessings you already have!
You have more than enough if you are budgeting properly.
Day 7: The Benefits of Budgeting (Estimated Budget Journal Page & Spending Journal)
Budgeting is your road map to prosperity...
Budgets help you to see exactly where your money goes.
Every penny you earn has purpose.
Budgeting helps you live within your means.
Day 8: The Salvation of Saving: (Journal Page & Spending Journal)
Save 10 of every penny you earn. Remember you cannot afford not to!
You have to save in that rainy day fund because you know it's going to rain!
Day 9: Diversification Delivers: (Journal Page & Spending Journal)
You need to diversify your investments. Do not put all your eggs in one basket.
Diversification means you have stocks, bonds, real estate, mutual funds and possibly more.
Inflation means your money of today has to pay for goods and services of tomorrow at a higher
cost.
Day 10: Marrying Your Money/Financial Intimacy: (Journal Page & Spending Journal)
Together as one you can be better stewards of your money.
You have NO financial secrets between spouses.
If you are married you should have joint account(s).
Do what works for you as a couple, which you have both agreed upon.
Day 11: Leave a Legacy of Good Money Sense: (Journal Page & Spending Journal)
Train your children to be good money managers by leading and being the example.
Teach Stewardship= Management of your time, talent and treasure.
Teach your children sound money management. They should start saving as soon as they realize
the concept that money can buy things.
Save for college, no loans!
Teach living below your means, you don't spend it all.
Day 12: The Devil Is in the Debt (Debt Eliminator Colum's 1, 2 & 3 and Journal Page & Spending Journal)
The borrower is a slave to the lender.
All debt is a monkey on your back, all it does is weight you down.
A mortgage is a death pledge in its true original origin. You should pay off our home A.S.A.P.
You should be debt free! None, not even your home.
Day 13: The Curse of Credit/Plastic Crack (Debt Eliminator 4, 5, 6 &7 and Journal Page & Spending Journal)
It is easy to swipe, but when you have to flip those $$$ dollars you really think twice about
spending.
Imagine paying for your car all in cash or paying for your home in cash.....parting with that kind
of cash makes you think twice about spending.
Day 14: Cosigning is Crazy :( Journal Page & Spending Journal)
You are the borrower; the creditor is coming after you if the debt is not paid.
If they cannot afford it or qualify on their own, they don't need it!
Day 15: Guard Against Greed: (Journal Page & Spending Journal)
You have 10 pairs of shoes? That is too much!
Are your cabinets full? Do you really need all that?
Are you paying for a storage space?
Get rich quick & go broke fast! Wanting more "NOW" can lead to being scarnmed by
unscrupulous people.
Greed dose not lead to the path of prosperity!
Day 16: The Caregiver Cliff: (Journal Page & Spending Journal)
Do those whom you love have what they need to insure their long term care is taken care of?
If not who will be responsible for their care and the payment of the care?
Day 17: Perpetual Peace: (Journal Page & Spending Journal)
What brings you JOY? You cannot buy JOY! It is not money that brings you happiness!
Day 18: Broken Bonds: (Journal Page & Spending Journal)
Better than blessed.
It's okay to embrace wealth.
It's about letting go, breaking that which has held you in bondage. Thought patterns, spending
habits etc.
Day 19: Strengthen Stewardship: Time, Talent, Treasure: (Journal Page & Spending
Journal)
Luke 16: 1 0-11: Anyone who can be trusted in little matters can also be trusted in important
matters.
If you can't handle what you already have well, you will not be able to handle more.
Day 20: Relationships Rescued: (Journal Page & Spending Journal)
Taking a break from consumption can help you focus on the most important relationships in your
life.
Spend time with those you love without spending money. Watch a DVD & eat popcorn at home
for a night.
Day 21: Financial Freedom= Service Level: (Journal Page & Spending Journal)
If you really want to know what you value, look at where you spend your money. Is God first?
You can get to a point in your life, where money is not an issue and you do what God has for you
to do, without any worry about finances.
My Financial Commitment
I,______ , promise and declare my commitment to be a good
steward over my finances and every aspect of my life including my time, talent, treasure,
family, and all that I possess. I will take control over my financial destiny and become wise
and disciplined in my wealth building habits. I will write down my goals and keep myself
accountable to them. As a result I will create a monthly spending plan, track my spending
and find extra money to pay down debt. I will invest in my financial education by buying
books, attending seminars and put principles I learn into action. I will get financial advice
from a financial advisor as needed. I will never invest in something that I do not know
anything about. I will communicate freely with my family about my finances and educate my
children about business and finance.
I will set generational financial priorities and ensure that my wealth is passed on to future
generations. I am committed to this declaration and will put into action all the knowledge I
have obtained by reading this book and taking advantage of the tools that I have acquired
through this financial learning journey.
By doing so, I will be set apart to build wealth for myself, my family, and future generations.
______
Signature
You are now on your way to financial freedom
Date
Note: You can print and use this page for your spending journal or you may use a
notebook. Write down all the money you spend, every penny. Each day you should
also record any bills you pay (mortgage, credit card, car loan). The point is to record
every single penny that you spend. Everything gets written down, even that pack of
gum or bag of chips.
Copy the following columns in your notebook if you use one. Be sure to include the
column identifying whether your purchase or payment was a need or a want.
Day/Date / Expense Item / Amount Spent / Need or a want?
Example of what your journal entry may look like on a particular day:
Was this expense aDay/Date / Expense Item / Amount Spent / Need or a want?
Mon./Jan. 12 / Sausage, Egg / $5.67 / Well, it was a want
McMuffm@ / really because I
McDonald's / could have eaten
breakfast before I
left for work.
Mon./Jan. 12 / Starbucks Grande / $3.95 / Want
Latte
Mon./Jan. 12 / Car Note Payment / $397.16 / Need,
Transportation to
get to work.
Snack, bag of UTZ / .75 / Need/want. I don't
Mon./Jan. 12 / from vending / know. I was
machine / hungry!!!
Late fee (Was 5 / $10 / Not sure. I needed
Mon./Jan. 12 / minutes late picking / to pay the fee to get
up my son) / my kid.
Dinner from / $24.35 / Okay, a need. But I
Mon./Jan. 12 / Popeye's / was too tired to
cook.
Reviewing Your Spending Journal
- Use the spending journal to record what you spend. Don't edit or judge yourself. This exercise
works best if done for 30 days, you simply record what you spend.
-- Make a note of where and when you tend to get off track concerning budgeted expenses.
-- Use the information from your spending journal to adjust your budget. For example, if you are
eating lunch every day at work, then cut back on eating out during the weekends. If you must have
brand-name coffee, then something else must be cut.
NOTE: List the company & the amount.
FAST MONEY IN MOTION
INSTALLMENTIREVOLVING DEBT / BUDGET / PROSPERITY DOLLARS
EXAMPLE of MONEY IN MOTION
INSTALLMENT/REVOLVING DEBT / BUDGET / PROSPERITY DOLLARSChase Visa (They chasing me!) / Mortgage Rent / Giving
$3617.12 / $2675.10 / $623.75
Capital One .M.C / Cable / 401K1403b
$1563.30 / $128.30 / $120,630.12
Nordstrom / Utilities / Brokerage Account
$598.75 / $169.85 / 42,230.88
Honda Motor Co. (Car Note) / Food Groceries/ Eating Out / Home Equity (Not the loan)
$593.34 / $372.56 / $102,356.46
Navient (Student Loan) / Entertainment / Education
$13,659.40 / $156.23 / $126,365.31
DEBT ELIMINATOR
Time inMinimum Monthly / Total Debt / Debt Eliminator / (Min. / Priority / Time / Years
Name of Debt / Payment / {a} / Payment+ $100) / (# in Order) / (In mos.) {a/b} / {+by 12}
Dept. Store
Dept. Store
Dept. Store
Dept. Store
Major Credit Card
Major Credit Card
Major Credit Card
Major Credit Card
Car loan
Student loan / "
Mortgage
TOTAL
(
DEBT ELIMINATOR ILLUTRATION
Time inMinimum Monthly / Total Debt / Debt Eliminator / (Min. / Priority / TIme / Years
Name of Debt / Payment / (a} / Payment+ $100) / (# in Order) / (In mos.) {a/b} / {+ by 12}
Dept. Store / $15 / $275 / $115
Target / 1 / 3
Dept. Store / $25 / $500 / $140
Macy’s / 2 / 5
Dept. Store / $40 / $1200 / $180
Nordstrom’s / 3 / 5
Major Credit Card: / $45 / $1500 / $225
CapitolOne / 4 / 5
Major Credit Card: / $90 / $3000 / $315
CitiBank / 5 / 9
Major Credit Card: / $125 / $4200 / $440
Chase / 6 / 11
Car Loan: Honda Motors / $275 / $11,000 / $715
7
!Student Loan: / $250 / $20,000 / $965 / 8
Naviant
Mortgage: Wells / $1000 / $150,000 / $1965 / 9
Fargo
TOTAL
ESTIMATED BUDGET
MONTHLY INCOME
Gross Monthly Income:
Salary:
Spouses Salary:
Interest:
Dividends:
Other Income:
Streams of Income (l):
Streams of Income (2):
Rental Income:
Business Net Income:
LESS
Tithing/Giving:
Taxes (Federal, State, FICA, SSA):
TOTAL NET SPENDABLE INCOME:
MONTHY LIVING EXPENSES
HOUSING
Mortgage/ Rent:
INSURANCE: license/Taxes:
Property Tax:
Electricity:
Gas:
Water:
Sanitation:
Maintenance:
Telephone (cell, land, and fax):
Internet:
Cable TV:
Other:( Alarm/HOA)
Food:
TRANSPORTATION
Payments:
Gas/Oil:
Car Insurance:
Car Registration:
Maintenance/ Repair/ Replace:
Other: (AAA etc.)
INSURANCE
Life:
Health:
ENTERTAINMENT/RECREATION
Eating Out
Baby Sitter
Vacations/Trips:
Pets:
Other: (Club Dues)
Clothing:
Savings:
MEDICAL EXPENSES
Doctor:
Dentist:
Prescriptions:
Other:( Therapy)
Miscellaneous
Toiletries/ Cosmetics:
Beauty/ Barber:
Laundry/ Cleaning:
Allowances:
Subscriptions:
Gifts:
Cash:
Other:
Investments:
School! Child Care:
Tuition:
Books/ Supplies:
Materials:
Transportation:
Day Care:
Other:
Total living Expenses:
NET INCOME VS. LIVING EXPENSES
Net Spendable Income:
Less Total living Expenses:
NAME:
EMAIL:
Cell: Date:
Other:
DEBTS: (Total)
NOTE: List Debtors on Debt Eliminator Sheet