Dave Ramsey - 5 Principles of Managing Money God's Way!

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Published on Dec 8, 2017

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This is one of the best teachings of Dave Ramsey showing us how to manage money God's way. Most of his biblical teaching are taken from the Book of Proverbs, the timeless wisdom of God very much applicable today. It's not about the prosperity gospel Dave says. It's the law of cause and effect, it’s the principle of sowing and reaping. 'Know well the condition of your flocks, and give attention to your herds, for riches do not last forever; and does a crown (nation)endure to all generations? When the grass is gone and the new growth appears and the vegetation of the mountains is gathered, the lambs will provide your clothing, and the goats the price of a field. There will be enough goats' milk for your food, for the food of your household and maintenance for your girls.' (Proverbs 27:23-27) If you didn't watch the full video, here are the summary of the 5 spiritual principles of doing business Dave outlined that matters. This is the gist of the teaching: - 1. People matters – Treat people as people with respect - Do unto others what you want others to do unto to you – is the golden rule – your customers and employees that you interact with; 2. An incredible team and culture of excellence matters – identify their talents and gifting and help them to progress or to move on; And no gossiping! 3. Slow and steady matters; Slow and steady win the race! Watch the tortoise! Achieving success too fast and not able to keep up with the pace of business expansion. Whether it be business, money or marriage. “Get rich quick. . never work!” 4. Financial principles matters – shepherd (managers) and sheep (workers) They are: - ( i) Get out of debt and stay out of debt; “The rich rule over the poor. The one who borrows is a slave to the one who lends.” (Proverbs 22:7) Hence, Master(-Slave) Card! (ii) Act your wage; Learn to live on less than you make – “a foolish man devours ALL he has.” If you spend everything you have, God says you’re a fool. (Proverbs 21:20) (iii) Save money; “In the house of the wise, there are stored choice food and oil.” Proverbs 21:20. Business people save money (called “retained earnings!) Wise people have savings (emergency fund, save up to buy things or for rainy days, to invest and to retire with dignity and retain our family tree. The wise save money, fools spent everything they make. Slaves borrow money. Wise people save for the future. Fools use up everything as soon as they get it. (Proverbs 21:20) (iv) Have a plan to succeed, count the cost; “Never build a house without a blueprint.” ‘Prepare your work outside; get everything ready for yourself in the field, and AFTER THAT build your house.’ (Proverbs 24:27) "Which one of you wanted to build a building, you would first sit down and decide how much it would cost. You must see if you have enough money to finish the job. If you don't do that, you might begin the work, but you would not be able to finish. And if you could not finish it, everyone would laugh at you. They would say, 'This man began to build, but he was not able to finish.' (Luke 14:28-30) – Jesus. In Business - Budgeting, Projection (revenues, expenses, profits etc.) and Forecast Performance - counting the cost. Do the same thing for your family! (v) Learn to be generous – God loves a cheerful giver! A hilarious giver. 'In all things I gave you an example, that so laboring you ought to help the weak, and to remember the words of the Lord Jesus, that He Himself said, “It is more blessed to give than to receive.’” (Acts 20:35) ‘Masters, in the same way, be good to your slaves. Don't say things to scare them. You know that the one who is our Master and their Master is in heaven, and he treats everyone the same.’ (Eph. 6:9) ’Masters, give what is good and fair to your servants. Remember that you have a Master in Heaven. (Col. 4:1) 5. A higher calling matters – excellence matters. You do you do what you do? ‘And whatever you do, in word or deed, do everything in the name of the Lord Jesus, giving thanks to God the Father through Him. Whatever you do, work heartily, as for the Lord and not for men, knowing that from the Lord you will receive the inheritance as your reward. You are serving the Lord Christ.’ (Col. 3:17, 23-24) For those who find this teaching helpful and are blessed by Dave’s sharing, please find below the other links by Dave Ramsey and please like and share link. Thank you and God bless! https://www.youtube.com/watch?v=qz9Wt... - Dave Ramsey - Wisdom, Counsel and Wealth of God's Word. https://www.youtube.com/watch?v=VvNZH... - Smart Money, Smart Kids by Dave Ramsey and Rachel Cruze at Gateway Church. https://www.youtube.com/watch?v=mV2UM... - Dave Ramsey on Biblical Finance – From Millionaire to Broke to Multi-Millionaire God’s Way. https://www.youtube.com/watch?v=OK0-w... - Live from lack to living an abundance life!