Financial learning Experience
2 Financial learning Experience I Was Broke. Now I'm Not. is an organization that is passionate about helping you accomplish far more than you ever thought possible with your personal finances. Founded in September 2006 by Joseph Sangl, I Was Broke. Now I'm Not. accomplishes its mission by providing inspiring, practical, and highly relevant tools, resources, and live events. The goal is to help you win with your money God's way. Resources and teaching experiences offered by the I Was Broke. Now I'm Not. team include: Books & Group Studies • I Was Broke. Now I'm Not. • Oxen: The Key to an Abundant Harvest • 20/20 Money: Gaining Clarity for Your Financial Future • What Everyone Should Know About Money Before They Enter The Real World Fully Funded Life • Courses • Challenges Live Events • Financial Learning Experience • Financial Coaching Experience • Personal Finance Messages • Maximize & Magnify Web • www.iwasbrokenowimnot.com • www.fullyfunded.life Social Media • Facebook: I Was Broke. Now I'm Not. Joe Sangl • Instagram: @iwbnin // @joesangl • Tiktok: iwbnin • Youtube: @iwbnin Find more resources here • Coaching • Community All our Resources and Events are brought to you by
3 Financial learning Experience Financial Learning Experience Participant, Thank you so much for attending the Financial Learning Experience. I want to say congratulations for taking this step to lead your personal finances to the next level. I hope that you find this experience to be helpful in improving your financial situation. Even more, I pray that folks will leave filled with HOPE, that marriages will be taken to the next level, and that each person understands that they CAN accomplish exactly what God has placed them on this earth to do! I am pumped up that you are here! Let's see what God can do when we trust Him 100% with everything we have. Thanks! Joe Sangl Founder, I Was Broke. Now I'm Not. Financial learning Experience ACCESS OUR FREE RESOURCES HERE
4 Financial learning Experience CORE PRINCIPLES 1. There is power in working __________________________! 2. Avoid the __________________________ trap. 3. Develop a __________________________ for your life. • This creates the ____________________ for you to plan your finances. 4. Put God __________________________! NOTES
5 Financial learning Experience THE OXEN PRINCIPLE _______________________ make the difference! TWO POTENTIAL OUTCOMES: 1. __________________________ Manger 2. __________________________ Harvest WHERE THERE ARE NO OXEN, THE MANGER IS EMPTY, BUT FROM THE STRENGTH OF AN OX COMES AN ABUNDANT HARVEST. Proverbs 14:4 TWO WAYS TO PRODUCE INCOME: 1. ____________ = Get paid money ___________ _______________ = Don't get paid money 2. Get paid ______________ ____ _______ you work
6 Financial learning Experience PLANNING Proverbs 21:5 THE PLANS OF THE DILIGENT LEAD TO PROFIT, AS SURELY AS HASTE LEADS TO POVERTY. There __________________________ be a plan! DO THIS! CAN YOU 1. __________________________ TWO THINGS THAT YIELD PROFIT: 2. __________________________
7 Financial learning Experience PLANNING PLAN FOR YOUR LIFE. THERE IS POWER IN A WRITTEN PLAN. THE REASONS I WANT TO BE FINANCIALLY SUCCESSFUL ARE:
8 Financial learning Experience INITIAL BUDGET FORM INCOME AMOUNT DATE DUE Take Home Income $4,000.00 $1000/wk - 4 weeks OUTGO EXPENSE FREQUENCY Charitable Gifts $450.00 Throughout the month Emergency Fund $200.00 Throughout the month Mortgage $1,150.00 15th Electricity/Gas $200.17 10th Cable $75.00 15th Water $25.45 15th Trash $15.10 15th Car Payment $378.00 10th Auto Insurance $75.00 15th $900 per year ($900/12 months) = $75/month License Plates $16.67 30th $200 per year ($200/12 months) = $16.67/month Gasoline $200.00 Throughout the month Oil Change $30.00 When possible Groceries $450.00 Throughout the month Dining Out $150.00 Throughout the month Clothes - Children $100.00 When possible Credit Card Bill (Capital One) $125.00 20th Student Loan $155.00 10th Life Insurance $40.00 10th $480 per year ($480/12 months) = $40/month Babysitting $50.00 When possible Cell Phone $100.00 25th Doctors Bills $125.14 10th Blow Money $200.00 Throughout the month Entertainment (Basketball Game) $74.00 When possible TOTAL EXPENSES: $4,384.53 Spend your money ______________________ the month begins! DO THIS! CAN YOU Income – Outgo = ________________ ZeroTM THE LITTLE-KNOWN SECRET FORMULA: THE IMPORTANCE OF SAVING 1. ___________________ 2. ___________________, upcoming, non-monthly expenses 3. ___________________
9 Financial learning Experience MONEY SCRIPTURES NOTES
10 Financial learning Experience COMPOUND INTEREST DISHONEST MONEY DWINDLES AWAY, BUT HE WHO GATHERS MONEY LITTLE BY LITTLE MAKES IT GROW. Proverbs 13:11 There is no harvest if you do not ______________________. DO THIS! CAN YOU $100/MONTH 40 YEARS 12% INTEREST THE BEST FINANCIAL DECISIONS YOU COULD MAKE: 1. Put God first. 2. Budget every single month. 3. Invest every single month. 4. Become debt-free.
11 Financial learning Experience ACTION ITEM LIST ACTION ITEM WHEN WHO NOTES
12 Financial learning Experience THE FULLY FUNDED LIFE LADDER RUNG 9: Live a Fully Funded Life! RUNG 1: Set goals. RUNG 2: Save money—start with one month of expenses. RUNG 3: Invest enough to capture full company match (or $100/ month, whichever is greater). RUNG 4: Eliminate all non-house, non-business debt. RUNG 5: Build savings to a minimum of three months of expenses. RUNG 6: Place 15% of gross income into tax-advantaged investments. RUNG 7: Pay off house and business debt. RUNG 8: Place 30% of gross income into tax-advantaged investments. GOAL DATE:
13 Financial learning Experience MONEY SCRIPTURES NOTES PLANNING Luke 14:28-30 Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, saying, "This fellow began to build and was not able to finish." SEEKING WISDOM Proverbs 15:22 Plans fail for lack of counsel, but with many advisers they succeed. Proverbs 4:7 The beginning of wisdom is this: Get wisdom. Though it cost all you have, get understanding. SAVING & MARGIN Genesis 41:25-57 (specifically v34 where they determined to save 20% of the harvest to prepare for the time of famine) Let Pharaoh appoint commissioners over the land to take a fifth of the harvest of Egypt during the seven years of abundance. Acts 4:36-37 Joseph, a Levite from Cyprus, whom the apostles called Barnabas (which means Son of Encouragement), sold a field he owned and brought the money and put it at the apostles' feet. OWNERSHIP Psalm 24:1 The earth is the LORD's, and everything in it, the world, and all who live in it . . . TEACHING CHILDREN Proverbs 22:6 Train a child in the way he should go, and when he is old he will not turn from it. GIVING Malachi 3:10-12 "Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it. I will prevent pests from devouring your crops, and the vines in your fields will not cast their fruit," says the LORD Almighty. "Then all the nations will call you blessed, for yours will be a delightful land," says the LORD Almighty. I Timothy 6:17-19 Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life. II Corinthians 9:7 Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. INVESTING II Corinthians 9:6 Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. DEBT II Kings 4:1 The wife of a man from the company of the prophets cried out to Elisha, "Your servant my husband is dead, and you know that he revered the LORD. But now his creditor is coming to take my two boys as his slaves." Proverbs 22:7 The rich rule over the poor, and the borrower is servant to the lender. Romans 13:8 Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellow man has fulfilled the law. DILIGENCE Proverbs 10:4 Lazy hands make a man poor, but diligent hands bring wealth. Proverbs 6:6-11 Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest. How long will you lie there, you sluggard? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the hands to rest and poverty will come on you like a bandit and scarcity like an armed man. Matthew 25:14-30 (Parable of Talents) INHERITANCE Proverbs 13:22 A good man leaves an inheritance for his children's children . . . DEBT DILIGENCE PLANNING GIVING SEEKING WISDOM SAVING & MARGIN OWNERSHIP TEACHING CHILDREN INVESTING INHERITANCE
14 Financial learning Experience RESOURCES I WAS BROKE. NOW I'M NOT. • Teaching on the fundamental tools that lead to financial freedom • Planning for life, budgeting, debt elimination, retirement, investing, and insurance WHAT EVERYONE SHOULD KNOW ABOUT MONEY BEFORE THEY ENTER THE REAL WORLD • Ideal for high school students and 20-somethings who are just beginning their money journey • Planning for life, budgeting, student loans, credit scores, debt, investing, insurance, and purchasing a home OXEN: THE KEY TO AN ABUNDANT HARVEST • Shares principles that will help you maximize financial resources, so you can experience an abundant harvest and fund big dreams • Will learn how to: leverage the power of oxen, identify & acquire oxen, earn income even while you're not working, measure & build net worth, and fund your dreams BUDGETING TOOLS Monthly Budget Form Weekly Budget Form SAVING AND INVESTMENT TOOLS Known Upcoming Expenses Calculator Retirement Nest-Egg Calculator DEBT REDUCTION TOOLS Debt Freedom Date Calculator Pay-Off Spectaculars 20/20 MONEY: GAINING CLARITY FOR YOUR FINANCIAL FUTURE • Shares practical steps you can take to discover and fund your Godgiven purpose • Learn how to: set guidelines for clarifying your fully funded life, connect vision to your money, creatively fund your dreams, and more
15 Financial learning Experience Next Step? LOOKING FOR YOUR LEARN MORE FOR $20 OFF USE CODE FLE20 Let’s Take Your Finances TO A NEW LEVEL Group Study GO.IWASBROKE.STUDY FULLYFUNDED.LIFE
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