2 © Copyright 2023 by NIN Publishing in Anderson, South Carolina All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval systems, without permission in writing from the author, except for the inclusion of brief quotations in review. This book is written to provide accurate information on the subject matter covered. Please be advised that Joseph Sangl is not engaged in rending legal, financial, accounting, tax, or any other professional advice. Before making any decisions regarding your own personal financial situation, you should first seek the advice of a proven and competent professional. Scripture quotations marked (NIV) are taken from THE HOLY BIBLE, New International Version®, NIV® Copyright © 1973, 1978, 1984, 2011 by Biblica, Inc.™ Used by permission. All rights reserved worldwide. Cover and Workbook design by Megan Hibbard. Images sourced from Pexels, Canva Pro, Unsplash, and Stephania Whitfield.
Thank You Thank you so much for leading this personal finance study. The mission to help others achieve financial freedom could not be accomplished without people like you. You may not feel like an expert, but that’s okay. This study was created so that discussion and life-change can take place without a financial expert or certified financial teacher in the room. Personal finances can be a touchy subject for many people. Some feel like they will be condemned for past financial decisions or their current circumstances. As a leader, your goal is to create an environment in which people are welcomed just as they are but encouraged to grow on their financial journey. Prepare to be challenged like you have never been challenged before. I have had my world rocked countless times during the leadership of a small group. Do not be surprised when members of your group make a huge impact on your life. I believe that God is going to do big things and I cannot wait to celebrate with you. I have prayed fervently for you and your group. I believe that freedom is waiting. Get fired up! Joe Sangl 3
In This Study Session One 10-11 The Fully Funded Life Ladder Session Two Budgeting 12-13 Session Three Saving 14-15 Session Four Debt 16-17 Session Five Investing 18-19 Session Six Insurance 20-21 Bonus Session Sustaining The Gains 22-23 Getting Started 5 6 7 8 9 Tips for Success Sample Session Structure Just For You Discussion Tips Fully Funded Life Ladder Extras 24-25 26-27 General Finance Terms Money Scriptures
Tips for Success Here are some key tips to help you make this group the best it can be: 1. COMMUNICATE • Before • Establish the best platform for communication (email, text, app, etc.). • Send your group details in advance (time, location, duration). • Encourage your group to come prepared with their I Was Broke. Now I’m Not. book, Workbook, Bible, and something to write with. • During • Keep an open line of communication with your group. • Give friendly reminders to complete the action items and selfreflection prompts each week – these are instrumental for success! • Look for ways to encourage your group between meetings. • After • Follow up with your group when the study is complete! Are there ways you can still encourage one another as you continue your financial journeys? 2. MANAGE EXPECTATIONS • Set and keep a consistent meeting schedule. We encourage a 90-minute session time for each week of the study. • You are a guide and encourager in this study, but you are not a financial advisor. Go ahead and breathe a sigh of relief. You get to walk with your group, pray with them, facilitate great conversation and more, but you do not need to give financial advice (nor should your group expect this of you). 3. PREPARE & PRAY • Ahead of each session, prepare by reviewing the discussion prompts and making notes. • Pray for your group and for each person to experience true freedom as they work through this study. 5
Things to Consider 1. Do you want to include the Sustaining The Gains Bonus Session for your group? This adds one more meeting time for your group, and you may find it beneficial to go through this together! 2. How will you show the session videos each week? Do you have the setup ready and easy to use? Sample Session Structure We recommend a 90-minute block of time per session. • Recap* and Pray: 10 minutes • Video: 45 minutes • Discussion: 30 minutes • Wrap-Up: 5 minutes This structure does not need to be rigid – if conversation is flowing, let it! However, honor the time that each participant has set aside for this and try not to run long. *Note: Session One has a Getting Started Section, rather than a Recap. Session One also has a Welcome video. Our recommendation is that you allocate 15 additional minutes for the first session. 6
Just for You As a group leader, you get exclusive access to the session videos, bonus videos, resources, tools, and more! Start by creating your leader account when you scan the QR code below or go to www.validate.iwasbroke.study. SCAN HERE TO CREATE YOUR ONLINE LEADER PORTAL. For Your Information Participants have access to a portal as well, with session resources, tools, and bonus videos to help them make the most of their study. Encourage them to access their portal throughout the study! The participant’s workbook has the following structure for each session: • Session Brief • Listening Guide • Discussion Questions • Action Items • Self-Reflection Prompts • Preparation for Next Session • Session Thoughts • Memory Verse 7 Each participant should complete these sections on their own between sessions.
Discussion Tips • DO: Take part in the discussions. Model authenticity and transparency. Share from your heart and be part of the conversation. • DON’T: Dominate the conversation. If you are the only one talking, something is wrong. • DO: Encourage involvement from all group members and find ways to involve every person. • DON’T: Pressure people or make them feel uncomfortable. • DO: Let moments of silence happen. Silence can be powerful. • DON’T: Rush to fill moments of silence as participants ponder a question or gather the courage to speak up. • DO: Allow each group member to share as they feel comfortable. • DON’T: Ask or expect participants to share sensitive financial information. • DO: Create a safe and encouraging space, free of judgment and condemnation. • DON’T: Discuss what is shared in the group, outside of the group. • DO: Cheer on the success of those in your group and celebrate every win! 8
THE FULLY FUNDED LIFE Ladder RUNG #1 RUNG #2 RUNG #3 RUNG #4 RUNG #5 RUNG #6 RUNG #7 RUNG #8 RUNG #9 (OR $100/MONTH - WHICHEVER IS GREATER) SAVE MONEY - START WITH ONE MONTH OF EXPENSES INVEST ENOUGH TO CAPTURE FULL COMPANY MATCH ELIMINATE ALL NON-HOUSE, NON-BUSINESS DEBT BUILD SAVINGS TO A MINIMUM OF THREE MONTHS OF EXPENSES PLACE 15% OF GROSS INCOME INTO TAX-ADVANTAGED INVESTMENTS PLACE 30% OF GROSS INCOME INTO TAX-ADVANTAGED INVESTMENTS PAY OFF HOUSE & BUSINESS DEBT LIVE A FULLY FUNDED LIFE SET GOALS 9
Session One THE FULLY FUNDED LIFE LADDER START STRONG! KICK OFF THIS FIRST SESSION BY TAKING A FEW MINUTES TO OVERVIEW THE STUDY AND MANAGE EXPECTATIONS. • ENCOURAGE YOUR GROUP TO GET THE MOST OUT OF THIS STUDY BY PREPARING AND READING AHEAD EACH WEEK, REVIEWING ACTION ITEMS, AND TAKING TIME TO WORK THROUGH THE SELF-REFLECTION QUESTIONS AFTER EACH SESSION. • EMPHASIZE THE CONFIDENTIAL NATURE OF UPCOMING DISCUSSIONS AND ASK THE GROUP TO COMMIT TO CREATING A SAFE SPACE FOR ONE ANOTHER TO SHARE. • WHAT ARE THE GOALS OF THIS STUDY FOR THE GROUP AND FOR EACH PERSON? • OPEN THE FLOOR FOR INDIVIDUALS TO SHARE THEIR PERSONAL GOALS (FROM PAGE 12 IN THEIR WORKBOOK) WITH THE GROUP. AT A GLANCE: SESSION ONE TEACHES THE FULLY FUNDED LIFE LADDER, A FINANCIAL ROADMAP THAT WILL HELP ORGANIZE A PERSON’S FINANCIAL JOURNEY AND SET THEM ON THE PATH TO SUCCESS. PLAY: WELCOME VIDEO PRAY PLAY: SESSION ONE Discuss 1. Read Proverbs 21:5: ƈ8LITPERWSJXLIHMPMKIRXPIEHXSTVSƼXEWWYVIP]EWLEWXIPIEHW XSTSZIVX]Ɖ • How does this verse apply to money management? 10 Scan or visit leader.iwasbroke.study
Session One THE FULLY FUNDED LIFE LADDER 2. Why is it important to set goalsFIJSVIIQFEVOMRKYTSR]SYVƼRERGMEPNSYVRI]# 3. Why is it important to save money before focusing on debt elimination? 4. In the past, have you attempted to “sOMTEVYRKƉSR]SYVƼRERGMEPNSYVRI]# I\EQTPIff attempting to eliminate debt before saving money.) • If so, share your experience. • What setbacks did that create for you? 5. Which foundational elements are missing from supporting your climb up the Fully Funded Life Ladder? 6. What foundational elements have helped you most? Wrap-up • Encourage your group to complete the Action Items from this week before the next session. • Remind participants of the preparation work to complete before next session. • Read chapters 1-5 of I Was Broke. Now I’m Not. • Visit the I Was Broke Group Study Portal to access tools, bonus materials, and content. • Pray and dismiss. 11