4015-01 RPFin Precepts/Principles

                             - - - - - - Jesus, Saviour, Pilot Me ! - - - - - -

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                      TO:  Interested  Christian  BLVRs                                                                                                         FROM: Jim Bramer, Retired CPA_
                                                                                                                                                                                              FILE:  4015-01/rpf

                       RE:  RPFin Precepts/Principles/Procedures                                                                                     Originated in April 1997                                          


Be sure and read about "Personal Finance Spending Control" resources found at  0400  


  The following precepts/principles are applicable when you born-again believers in Jesus Christ as Lord and Savior (BLVRs) pursue Righteous Personal Finance - RPFin.  You will remember that such things as:  Seasoned Recommendations, Standards, Truisms and Guidelines.

 1 - DO-RIGHT 

  •  Do have and maintain a clear written biblical stewardship rendering of your RPFin philosophy and resultant policies Click here for a dialog with Dale on such matters.  See also assistance info found in 4205-07.

  •  Do make and keep financial commitments to both the Lord and to your fellow man.

2 - FINANCIAL RECORDS

  •  A necessity .... not an option.  Do efficiently. Have them properly structured to provide meaningful and necessary 'buying decision' information.  Click here for more information of a computer system example called QVE. 

  •  Do produce enough info .... but don't overdo it, as it can be an unnecessary burden. 
  •  Do pay bills in the most cost effective manner. 

3 - HUSBAND AND WIFE TEAM

  •  Do work as a team -- prayerfully work through spousal UnBLVR aspects.

  •  In our opinion, It is not good for the wife to have 'her' money and the husband to have 'his'; RPFin should be a family 'corporate' effort.

  •  Do have a clear understanding of spousal "RPFin" tasks. Click here for a sample list of such tasks.

  •  Do be VERY sure that both clearly understand what the financial reports say.

  •  Do NOT take 'green stuff' from your spouse's purse/wallet/bag without their knowledge and OK.

  •  Do trade off paying bills ..... might be value in one spouse writing the check and the other signing, etc.  Both spouses need to be jointly accountable for RPFin issues.

4 - WEEKLY EMPHASIS

  •  Do have current 'buying decision info' at least weekly; BLVRs MUST timely be able to answer the question: "Can I appropriately buy such and such now?" 

  •  Do clearly know where you are and what has happened since last time.

  •  Do prudently buy things knowing where you are in relation to where you should be.

5 - INCOME/RECEIPTS

  •  Do have all receipts flow through a checking account.  
  •  Do NOT cash your pay checks. Ideally have only one family checking account.
  •  Do obtain 'green stuff' only from ATM or by writing a check out to cash.

6 - PLAN AHEAD

  •  RPFin means that the BLVRs have decided in advance how each deposit is to be used.  Click here to follow features of the Personal Finance QVE Computer system  whereby pre-planned expenditures are made from contents within virtual envelopes. 

  •  Do anticipate your known financial future and live within your anticipated income.

  •  Do buying based on a plan ...... not on impulse. 

7 - BUDGET

  •  The essence of RPFin ..... tell me why !!!!!!!!

  •  Do determine your unique Budget method. Click here for more information about virtually placing your money into Envelopes by expenditure group and then only spend  (after all, this is a type of budget)  the content of an Envelope.

  •   Along these lines, you will need to establish certain internal 'rules' for borrowing between Envelopes to insure a pay back ---- or how to handle an agreed grant from one Envelope to another.

8 - CREDIT CARDS AND DEBT

  •  Do be VERY careful about "Oh, we can always pay later" mentality.  Strive to buy from current resources .... not from anticipated income, etc.

  •  Do determine a judicious philosophy/policy as to using debt to acquire assets or make investments. Example .... buying a residence via a mortgage, etc.

  •  Do use Plastic/Credit Cards, not as a tyrant (curse), but as a tool (blessing). i.e., those frequent Flyer Miles etc "perks" are  very nice "rewards"; pay off balances before you incur interest/service charge expense.  Use a second Plastic Account if it is prudent to acquire an asset by making monthly Plastic payments..  

  •  Plastic charge slips are usually small  ..... do have a place in your wallet/purse/bag to retain them until you post.  After-all, when you write a check you would find a place to make a record so you can post.  Believe me, both documents do need to be posted so you can regularly compare to your purchase plan (budget).   Maybe determine some way of giving and taking away 'brownie points' depending on how well you turn in charge slips, etc.  Be sure and account for all charges appearing on your monthly statement. 

  •  Some BLVRs do NOT wait until their monthly Plastic Statement comes; they pay off their current Plastic purchases every week  Click here   and  Here  for details re a possible way to do this.

9 - SAVINGS

  •  Do make use of Savings Accounts when you are setting aside money for some annual or future payments; 
  •  There is something "untouchable" about money in these accounts so build on this "psyche".

10 - VOLUNTARY WITHHOLDINGS

  •  Do see if your employer will withhold money from your pay check for your personal use.

  •  Then ideally do have them send it directly to your personal Savings Account.

  •  Sometimes a "no see, no spend" approach can work as part of your RPFin endeavor; such a method does NOT have to apply only to required pre-payment of your federal and state taxes. 


--MINISTRY FINANCE "LINGO"  INCLUDE--

             BLVR = Believer in this system ... especially in the Lord Jesus Christ as Savior
            
QVE = "Quite Virtual Envelope" Computer Acctg System
             MFT & MFTeam = Ministry Finance Team  
             PLASTIC = Credit Cards
                  
             RPFin = Righteous Personal Finance 


    .  The bulk of this Publication originated in April 1997 and was . UPTD: March 09, 2012    

ABOUT  US   |  OUR PURPOSE   |  TABLE OF CONTENTS   |  SEARCH  MATTERS  |  HELP DETAILS   |  FUND ACCTG VIA COMPUTERS   |  GLOSSARY