Mathematics of failure (Part 4) - Pastor David Odumade - 1 Corinthians

Sunday Celebration Service - 28/07/2019 - Sermon Summary
Ministering: Pastor David Odumade
Title: Mathematics of failure - Part 4
Text: 1 Corinthians 9:16-18
1 Timothy 6:6
1 Timothy 6:8
What you need can put you in bondage. Every Christian must take the right procedures to be financially free.
When do you want to retire? Retirement means, no longer having to work, in order to get money. However, one must first come out of financial bondage (debt).
It is only people who know how things work, that can work things out.
Financial freedom is not being compelled or forced to work for money.
Don't do anything for money. When you get to a stage, where you can't do anything for money, then you are free from the power of money.
How you manage your finances, can determine if you are going to be a slave to your friends, or if you are going to be ahead of them in the next few years.
What do you hold for the future? You need to start to do things now.
Steps to Financial Freedom as a Christian
1) Transfer ownership of every possession to God. God has resources everywhere. Everything you have belongs to God. You are just a treasurer. There is nothing you have, that God has not given you. - Psalm 8:4-6.
2) Be free from debt altogether. Debt is when payment is due for goods and services, that you owe to other people. It is also when the total value of unsecured liabilities exceeds total assets.
Steps to be free from debt
1) Have a written plan of how you are spending your money - There is a difference between needs, wants and desires.
2) Make sacrifices of comfort - Be conscious of your spending.
3) Look for things around the home that you can do - There are some things that you can do for yourself.
4) Think before you buy.
5) Change your spending habits - Discontinue credit buying. Whatever you can't afford, leave it.
6) Don't follow other people - Your neighbour is different from you. Don't live your life, the way other people live their's.