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Three Plans You’re Missing in Your Finances

Three Plans You’re Missing in Your Finances


Man on a ladder reaching into the sky.
Samuel Zeller on Unsplash

Whether you’re fresh out of high school or 30 years into your career, your finances need a plan. This plan revolves around getting in control of your money by understanding yourself and how you need to treat your finances. There are a few extra aspects to it, such as building generosity and reaching your God-given purpose along the way. However, this still scratches the surface of what a proper financial plan should look like.

I want to discuss three areas that are found lacking in a lot of Canadian’s financial lives. Hopefully, you’ll be able to improve your plan as a result.

A plan for total freedom from debt

No one likes being in debt. But do you know what people dislike more? Waiting. Credit allows us to get what we want now without having to save for it, but that feature comes with a heavy-loaded price. If you’re tired of forking over your hard-earned money to car loans and credit cards, you need a plan to break the cycle you’ve gotten into. You need to change your relationship with money, and when you do, you can wave goodbye to your debts.

A plan to protect your family

You have to prepare for the unexpected. If you have any dependents such as a spouse or (most commonly) children, you might be trying not to think about what will happen to them if God calls you home. However, there is more peace than anxiety when you know your family will be alright because you’ve trusted God and planned for the worst. This protection plan asks a few questions:

1. Do I need life insurance? If so, what kind and how much?

2. What adjustments will my family need to make?

3. Where will all my possessions go?

By having a plan to protect your family, you can sleep knowing you’ve made their safety a priority, no matter what happens.

A plan to live without a mortgage

Too often have I seen people refinance, refinance, refinance. Whether it’s debt consolidation or getting a bigger mortgage for a bigger home, there has been little conversation about paying it off. The truth is that you don’t want a mortgage for your entire life. It may be cheaper than renting in some cases, but it can be way better than that! The best way to have breathing room is to stop the bank from eating away at your paycheck. Do you have a plan for that?

These 3 plans will help strengthen your finances and provide you with a better future that you can look forward to. It’s hard, and some or all of these may not seem possible for you. But you won’t know until you try and make that plan. We want you to experience financial control. We want you to live and give the way God intended. That’s why we made Freedom to Live, a course to help you build that strong foundation and answer all the questions you have about your finances.

What do you think people are missing in their finances? If you have any questions about your plan or about Freedom to Live, leave a comment or contact us here.

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