Develop an Effective Financial Plan
Make a Plan!
Whether or not you’ve received your Economic Impact Payment from the U.S. Treasury, it’s a good time to create and implement a personal spending plan for you and your family.
In these uncertain times, we must be good stewards and planners of the resources God has entrusted to us. Planning is essential!
“Commit to the Lord whatever you do, and your plans will succeed”
1. Have a Family Meeting
Husbands and wives should sit down together to discuss finances. Parents could include your children. This is a great opportunity to get the entire family on one accord and show your children how to handle finances and the difference between needs and wants. The Lord instructs us to be content when our basic needs are met.
“But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.”
2. Prioritize Necessities
Rent/mortgage
Food and supplies
Utilities (electric, gas, water, phone)
Insurance (home/rental, auto, health)
Transportation (car payment, gas, public transportation costs)
3. Plan for the Next Few Months
Pay down debt (credit cards, personal loans)
Set up emergency savings account (prepare for the next month’s necessities in advance)
4. Reduce Debt & Help Others
For those of you who are blessed to still receive an income from your job, the Economic Impact Payment could be additional money you could use to reduce debt.
If you are already financially free, this could be used to bless others who have fallen on financial hardship.
Steps to a Successful Spending Plan
Let your way of life be free from the love of money, being content with what you have; for He Himself said, “I will never desert you, nor will I ever forsake you.” — Hebrews 13:5
Pray – 1 Thessalonians 5:17
Study – 2 Timothy 3:16-17
Give – Malachi 3:10
Save – Proverbs 21:20
Live – Hebrews 13:5-6
We're Here for You!
Your Eastern Star Church Stewardship Department is continuously praying for you and is here for you. If you have questions or need assistance, please contact us at ffi@easternstarchurch.org.