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MIM: Chapter 12

The Four Pillars of Financial Strength

Entrepreneur's credo: A dollar borrowed is a dollar earned, a dollar refinanced is a dollar saved, and a dollar paid back is gone forever! Ted Miller

 

Earning: Little by Little

"He who gathers money little by little makes it grow." Proverbs 13:11

 

Saving: Little by Little, Too

The Nest Egg Principle personifies the qualities of the Biblical view of life: quietness, diligence, industry, prudence, patience -- little by little.

 

Sharing: Where You Store Your Money

  • People and relationships are more important than possessions.
  • A different perspective: try putting a cap on your standard of living. Everything you earn beyond what you need to live and save for retirement, give to Christian work.
  • Three Principles.
    • Give a proportion of every dollar earned in relation to how God has blessed you. A good starting point is ten percent.
    • Do your giving in secret to guard against any temptation to become proud.
    • Give your gifts as an offering to God, not to men. Don't seek the praise or approval of men.

Debt: The Ability to Pretend

  • There are two ways to acquire and accumulate: income and debt.
  • Men either earn interest or pay interest.
  • Debt is a symptom, its a symptom of a consumptive lifestyle.