Financial Literacy Apprenticeship Sessions

If you were given $5,000,000, what would you do with it?

Protect The Bag: Episode 1 - "Protecting the Bag"

https://youtu.be/DGghq5UlYbc?si=U3GkoefH8Yjx0Alb 

The plans of the diligent lead to profit as surely as haste leads to poverty.— Proverbs 21:5


The prudent see danger and take refuge, but the simple keep going and pay the penalty. – Proverbs 22:3

Overview:

Manage income/earnings, needs, savings, investing, debt, insurance, and budgets.

Protect the Bag Budget Example:
Needs 50%
Fun 30%
Savings 20%

Application:

  1. If you received $60,000 what would you do with it?
  2. Write a letter to your money, your thoughts toward it, and what you think about it.
  3. Take some time to look at your expenses. Write down the percentage of where money is currently going: Expenses, fun, savings. What sticks out to you?

Other Budget Example:

Other Budget Example:
God Provides 100%
Expenses:
Needs 72%
Generosity 10%+
Emergency Savings 2.50%
Health/HSA 2.50%
Personal Fun 2.50%
Fun savings - Partner 2.50%
Retirement/Roth IRA 2.50%
Investment 2.50%
Gifts for others 2.50%

Start Your Budget Today!

Protect The Bag: Episode 2 - "Playing the Long Game" with CoCo Jones

https://youtu.be/5TA4UteZQe4?si=FT2FM_-_8-t8Hwxv 

Ecclesiastes 11:1-2

Ship your grain across the sea;
    after many days you may receive a return.

Invest in seven ventures, yes, in eight;
    you do not know what disaster may come upon the land.

SAVING & INVESTING:

Application:

  1. If you received $1,000,000 what would you do with it?
  2. What is a goal you have that you need to "play the long game" for?
  3. Take some time to look at your expenses. Write down the priority list of the most important to least important expenses: Housing, clothes, jewlrey, vehicles, food, travel, experiences, entertainment, etc., fun, savings. What sticks out to you?

Protect The Bag: Episode 3 - "Budgeting, For Real" with Kyle Korver

https://youtu.be/tNv0LS0yvXk?si=QHnA1WAYotcpdOzi


Be sure you know the condition of your flocks, give careful attention to your herds. – Proverbs 27:23

On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made. – 1 Corinthians 16:2

Budgeting Tools:

Application:

  1. How much are you spending?
  2. Where is every dollar going?
  3. Aaron McKie advised Kyle Korver to "Live like a king for a few years, or like a prince for a lifetime." What is one way you can apply that principle?

Protect The Bag: Episode 4 - "Protect Yourself" with WHATUPRG

https://youtu.be/LQVAi8AdFZI?si=4azIze68jtYghmZI

Proverbs 11:28

Those who trust in their riches will fall,
    but the righteous will thrive like a green leaf.

Like a city whose walls are broken through is a person who lacks self-control. – Proverbs 25:28


The prudent see danger and take refuge, but the simple keep going and pay the penalty. –Proverbs 27:12

Application:

Take some time to make accounts and freeze them to protect your identity.

Credit Freeze: https://www.usa.gov/credit-freeze

Protect The Bag: Episode 5 - “Debt Ain't No Joke!” with Tyler Lockett

https://youtu.be/_uKl-sNNrvk?si=Bf1gIxWLbpqsvowi

Proverbs 11:15
Whoever puts up security for a stranger will surely suffer,
    but whoever refuses to shake hands in pledge is safe.

By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures. – Proverbs 24:3-4

Resolving Debt:

"There is no bag if it is owned by someone else."

Debt Repayment Strategies:

  • Avalanche = pay off highest rate first
    • pay less interest overall
  • Snowball = pay off smallest to largest
    • gain momentum and keep motivation

Debt Management Programs:

Application:

  • What percentages are you able to set aside?
  • How fast do you choose to purchase items?
  • If you were given $5,000,000 dollars, what would you do?

Protect the Bag: Episode 6 - "I Got This" with Jewel Lloyd

https://youtu.be/gfBMW-v5QAA?si=jdCMCnu9mMCtNxlT

Ecclesiastes 11:1-2

Ship your grain across the sea;
    after many days you may receive a return.

Invest in seven ventures, yes, in eight;
    you do not know what disaster may come upon the land.


The lambs will provide you with clothing, and the goats with the price of a field. – Proverbs 27:26

"Growing the Bag"

  • Stocks: own part of a company
  • Bonds: lend money to a company
  • Funds: join forces to buy stocks

Investing Strategy

  • 3rd stocks
  • 3rd real estate
  • 3rd bonds

Examples of Investment Funds and Applications:

Application:

  • Do you have money you can "forget about"?
  • Do you have any debt?
  • Is there anything you can do to "delay your gratification"?
  • What is one company you know about or value? Where are they positioned in the stock market?
  • If you were given $5,000,000, what would you do with it?

Next Steps

Schedule a free call with a Ramsey trusted advisor