Financial Tune-Up for 2009

Posted by admin
January 4, 2009

Greetings:

Now that the shopping is over for the holidays, it’s time to get our goals on paper. There are 5 areas we should concentrate onm for a overall healthy fiajncial state.

1. Pursue a healthy Debt to Income Ratio:

In order to qualify for a mortgage for which the lender requires a debt-to-income ratio of 28/36:

2. A Credit Score of 700 and above:
Pay on time- always pay your bills on time
Don’t max out your credit- Always keep your card balances at 30% or below your available credit limit
Time matters- if you have accounts with old an history do not close it.
Don’t open unnecessary accounts- stay away from too many credit inquires
3. Build Your Emergency Fund to $1000 as quick as possible:
  • Have a garage sale
  • Work Overtime
4. Decrease your monthly expense by 5%:
Call your utility company and see if you are saving the max on your electricity.
Call your cell phone company see if you can decrease your bill.
Call your cable company and see if you can decrease your bill.
Lastly see of you can cut all mag subscriptions from your budget.
5. Pay yourself first, it’s always good to pay yourself 5-10% of your gross into a savings account.
I look forward to seeing God manifest himself in your lives concerning your finances. Stay on the look out for our next Pathways class. I will see you soon.
Good Bye for now.
Elder Raines
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Comments

Pathways financial discipleship has set me on the course to financial freedom and peace. I am learning that it is not merely about numbers, Excel spreadsheets, and balances ; but rather about discipline and mastery of the soul according to the Word of God.

Prov 1:20 “Wisdom crieth without; she uttereth her voice in the streets…..”

Comment by Donnie on August 28, 2010 @ 4:52 pm

Pathways provided a framework for disciplined application of the Wisdom of God that has brought an amazingly new level of peace and freedom into my life. It has caused me to seek and develop the habits necessary in order to succesfully navigate toward generational wealth. Thank God! Anytime there is more wisdom and understanding being poured out… I will be there!

Comment by Adam on August 28, 2010 @ 11:56 pm

Just got finished with Pathway$ 6/30/11, as it ended Elder Raines prayed and stated things will begin to happen from 7/1-12/31.Got up and took old of being a common woman of prosperity. I traded in my 2005 Land Rover…payment was $496.00 with no warranty and a high maintance bill. Went to Carmax just to look and left with a 2008 Honda Accord EX…saving of $115…new payment $381 with a extended warranty…plus gap insurance…..gas savings…maintance savings….there are brand new tires on the car and the oil change was just done and a full tank of gas….My savings on my insurance also went down $45.00 a total saving for car $160.00…so far total monthly savings in bills…$218.18….everything just tripled for me…..

Comment by Hillary Johnson on July 1, 2011 @ 11:41 pm
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