The Good Steward
Nick Simonic, CPA, MACC

Nick Simonic is a CPA who specializes in Non-Profit, 501C3 Corporations as well as serving on the board of Wilbur Ministries. Ever since moving to Jacksonville nearly ten years ago, Nick and his staff have watched over our financial accountability and ministry affairs. His wisdom with regards to financial matters as well as his passion for the Lord have made him a highly sought after counselor in the Kingdom. You will not only gain understanding with the words he offers each week, but I believe you will find wise counsel and wisdom imparted here as well. I truly pray you are blessed and edified by this special offering from us to you!

Paul Wilbur

Living Debt Free By The Word
By Nicholas T. Simonic, CPA, MACC
Part Eight

Last time we talked about the BUDGET. Oh, that dreadful word, right? No! You need to look at a budget as your saving grace in keeping your financial sanity. A budget is your organizer. It is your report card. It is your benchmark for every area of your financial life. And last but not least, it is a written financial diary. People keep diaries of what happens in their family, social and business lives. Don’t you think that it is more important to keep a diary of your financial lives? After all, this plays an important, if not critical role in the success of those other arenas of your life.

I would like to extend an opportunity for the readers to receive a copy of a book I wrote to assist you in your budget. It is called “The A to Z of Living Debt Free”. These books will be available by calling my office at 904-928-1040 and asking for Sandy, for as long as supplies are available. This book will give you insight into your everyday life and where to find the money in your personal budget to eliminate debt. I would like to provide these books, at no charge, to plant seed in your lives and to play a part in your obtaining financial freedom.

When you get the book, keep in mind that the goal for eliminating your debt is to provide 10% of your take home pay from your budget to apply to the debts, after your priorities of God and family are handled.

Your debt should be eliminated systematically. I use a formula to accomplish this. The formula is again, too lengthy to discuss in these pages. For those who are serious about eliminating the debt in their lives and obtaining a copy of this formula, I will be glad to provide it to you at no charge as well. Again you can contact Sandy at my office at 904-928-1040. What is my motivation for providing this valuable information at no charge? I am glad you asked! If you align your finances to God’s Word, you will be a powerful force for the restoration of Israel and the end time harvest. Best of all, I will have played a part in it.

Here is a simple example of the “Living Debt Free By The Word” Plan: Assume Ten Percent of take home pay = $300.00

Debts               Monthly Payment                Balance Due
Credit Card                $50                              $1,000.00
Credit Card                $25                              $500.00
Car Loan                   $250                             $8,000.00

Starting November 1st, you would pay $325 per month, ($300 seed money plus $25 monthly payment) for 1 1/2 Months to pay the first one off. ($500 balance / $325 = 1.5 months)

Starting December 15th, you would pay $375 per month, ($300 seed money plus $25 from the paid off credit card, plus the $50 monthly payment) to the second credit card for 2 2/3 months to pay the second one off. ($1,000 / $375 = 2 2/3)

Starting March 10th you would pay $625 per month, ($300 seed money plus $25 plus $50 from the paid off credit card, plus the $250 monthly payment)

to the car payment for about 12 4/5 months to pay off the car loan.

So you see that it takes 17 months to eliminate debt that you would otherwise take four to seven years to pay off. The seed principal will really work for you if you work it!

Next time we will summarize what you have learned in this series. Then I will share my personal financial testimony. Until then …

Beloved I Pray That You Prosper And Be In Health, Even As You Soul Prospers!

Blessings,
Nick

The Good Steward Archive
Living Debt Free By The Word: Part 1
Living Debt Free By The Word: Part 2
Living Debt Free By The Word: Part 3
Living Debt Free By The Word: Part 4
Living Debt Free By The Word: Part 5
Living Debt Free By The Word: Part 6
Living Debt Free By The Word: Part 7
Living Debt Free By The Word: Part 8
Living Debt Free By The Word: Part 9
Living Debt Free By The Word: Part 10