Most of us measure our money by how the month feels, and that's a lot like trying to lose 20 pounds by checking how tight your sweatpants are. In this live workshop, Linda and I walk you through the one number that actually tells you whether you're getting ahead, why we stopped calling it net worth, and what Proverbs 27:23 has to do with it.
We get into why so many of us avoid looking at our finances, the two scoreboards that keep people anxious no matter how they're doing, our own first number (-$13,843) and where it was one year later, a 10-minute exercise to find your number, the four financial stages and what to do in each one, and your questions about money leaks, setting an enough number, giving when money is tight, and paying for kids in college.
Not sure which of the four stages you're in? Take our short stage quiz (10 questions, about two minutes) and you'll get next steps for right where you are: https://seedtime.com/stage
Timestamps
0:00 Cold open and intro
0:42 Seeing your whole financial picture on one page
1:47 Proverbs 27:23 and why God wants you to know your number
3:18 Why so many of us avoid looking
6:26 Step 1: Face the number
8:52 Visibility vs. discipline
10:50 Step 2: Swap the scoreboard
11:33 Your strength or God's strength
17:41 Why debt and net worth make bad scoreboards
20:30 Assets under management (AUM)
23:41 Step 3: Mark the starting line
24:28 Our first number: -$13,843
26:46 Where we were one year later
29:09 Find your number (live exercise)
36:55 The four financial stages
42:20 Stage 1: Surviving
45:50 Stage 2: Stable
49:21 Stage 3: Secure
51:35 Stage 4: Surplus
Here's a little of what we cover in this episode:
- Why so many of us avoid looking at our finances, and what Proverbs 27:23 says about it
- The weight loss lesson that explains why most of us need more visibility with money, not more willpower
- Why debt and net worth both make lousy scoreboards
- What "assets under management" means and why the name matters
- Our first number (-$13,843) and where it was one year later
- How to find your number in about 10 minutes
- The four financial stages: Surviving, Stable, Secure, and Surplus
- The couple who thought they spent $200 a month eating out (it was $800)
- What an enough number is and how to set one
- Whether to give when you're in survival mode
Bible Verses Mentioned:
- Proverbs 27:23
- Genesis 13:2
- Psalm 46:1
- 1 Corinthians 14:33
- 2 Kings 4:1-7
- 2 Corinthians 9:6-8
- 2 Kings 4:42-44
- John 6:1-13
- Proverbs 3:6
- 2 Corinthians 12:9
- Exodus 14:10-22
- Acts 8:39-40
- Matthew 25:14-30
- 1 Kings 17:8-16
Resources Mentioned:
Disclaimer:
Obligatory legal disclaimer: I'm a financial educator, not your financial advisor, investment advisor, tax pro, or lawyer. This channel is for general education, not personalized advice, and nothing here should be taken as a recommendation to buy, sell, or use any specific investment, account, or financial product. I'm just sharing what I'm doing, what I'm learning, and what I find interesting.
Markets can be humbling. Investing involves risk, including the risk of losing money, and my results are personal, may not be typical, and are not guaranteed. Do your own research, use wisdom, and talk with a qualified professional before making financial decisions.
Some links are to our resources and some are affiliate links, which means we may earn a commission at no extra cost to you. That helps keep the lights on around here, so thanks for the support.
