Quote:
Originally Posted by mizpeh
James, you're talking "depression"!! Any advice for the average person who wants to be prepared, as much as is possible, for the future?
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Excellent question.
Although each family as well as each individual have unique needs and circumstances there probably are a few basic principles that would apply to most middle class Americans.
1. Don’t panic
2. Eliminate Debt
3. Invest in yourself
4. Multiple streams of income
5. Pray
Don’t panic- I freely admit to being in some ways a theological dinosaur. I am unapologetically a dispensationalist. In that we are coming to the end of the church age. There will be a one world theocratic dictatorial government and the Lord’s return is imminent. I also agree with what said on the hyper-inflation thread. Such a belief system if not coupled with faith in God’s divine protection for His children can easily lead to panic, and therefore self-fulfilling prophecy. I don’t buy into the dominion or Kingdom Now philosophy which says the Christians will come to dominate all areas of society thereby ushering in a messianic age. It is not our duty to conquer the world for Christ, but it is our duty, honor, and privilege to be spent trying. (Sorry for the soapbox, will try to stick to topic)
Eliminate debt- consumer debt is to be eliminated at all cost. This is key and cornerstone. Think about it as you would someone who has publicly declared it is their mission in life to destroy your family. Attack it with the ferocity you would a flea infested, bubonic plague carrying rat attempting to climb in the crib with your newborn child.
Invest in yourself- get educated in financial matters. It doesn’t cost a lot. Dave Ramsey’s Financial Peace University is a 13 week course which is held in churches around the country. The only cost is the materials, just over $100, for an individual or couple. Good practical Christian advice. Per their literature: “Over 650,000 families have completed FPU with amazing success. On average, they pay off $5,300 in debt and save $2,700 in just 13 weeks. That's an $8,000 change in position in just 91 days!”
Multiple streams of income- a continuation of the above. A good place to change your thinking would be Robert Kiyosaki's books of which he has several, I would recommend “Rich Dad, Poor Dad”, “Cashflow” and “Guide to Investing: What the Rich invest in, that the poor and middle Class do Not”, to be read in that order.These books will start most thinking in a manner that never have. They are long on principles and paradigms but short on "How To” however, I agree with him the principles and understanding come first. For better understanding combined with practical examples Robert Allen’s aptly named “Multiple Streams of Income” is a good starting place as well.
Pray- I don’t mean this as trite, cliché advice. It is probably the most important of all and therefore saved for last. Pray for wisdom, and guidance, but above all seek first the kingdom of God. Even as the country was going through the Great Depression there were individuals who not only survived but actually prospered greatly.
Elsewhere on AFF is an article about NT ideas concerning finance called The Prodigal, I will see if I can find it.
http://www.apostolicfriendsforum.com...ad.php?t=15577
Hope this helps,
Griffin