About this course
Create your own faith-based Financial Life Plan under the guidance of Fran McKay, a CERTIFIED FINANCIAL PLANNERTM and your guide to faith-based financial life planning. The assignments from this course will serve as the foundation of your faith-based Financial Life Plan. As you go through the course, you will learn how to honor God with your financial stewardship, protect your family, create a future you love and leave a legacy that lasts. Topics include Claiming God's Promises, Financial Stewardship according to scripture, Money Mindsets and Personalities, Growing and Protecting Your Income, Cash Flow Planning (aka budgeting), Introduction to Investing, Planning for Major Purchases, College and Retirement, Credit and Emergency Savings, Property and Liability Insurance, Health, Life and Disability Insurance, Basics of Estate Planning, Creating Your Action Plan to Fulfill your Faith-Based Financial Life Plan, and Leaving a Legacy that Lasts.
In Module 1 of Purpose, Peace, and Prosperity, you will be introduced to faith-based financial life planning, learn about God's promises, read scripture related to financial stewardship and find out which of the six money personalities you most align with in your daily habits.
Congratulations for starting the 3Ps course! This is the place to learn how to put together your own unique, faith-based Financial Life Plan. In this lesson, you will learn how to go through the course (with special instructions for couples), what to expect as you go through it and how to put your faith-based Financial Life Plan together as you go along.
You have to know who you can be in order to become that person. In this lesson, you will be reminded that you can be a child of God and how to claim His promises in your life.
Learn what it means to be a faithful steward and how money can become Mammon. Mammon is anything you treasure or put your faith in over God. In a society built on consumerism, it is easy to believe money can solve your problems, and give you peace and joy. In truth, what you really need is a spirit-led perspective influencing your heart, your mind, and your soul, and guiding how you spend your time and money.
Your past experiences consciously and subconsciously impact your financial behavior. Your "mind on money" can help you make rational and logical decisions at times but also lead you to irrational behavior at other times. In this lesson, you will have an opportunity to reflect on what experiences influence you when you are thinking rationally and logically about money, but also the personal challenges you face that may lead you to make irrational money decisions.
In Module 2 of Purpose, Peace and Prosperity, you will start putting together your faith-based financial plan for what you want to happen in your financial life. That is, you will put together a plan to reach your short-term and long-term financial goals including growing and protecting your income, paying off debt, saving for a car or home, planning for your children's college expenses and your own retirement.
Most of us are not independently wealthy and must trade our time in order to earn money. In this lesson, we talk about how to honor God through your work, how to grow and protect your income, and the importance of being intentional with the work you choose to do.
You made it! For all you analytical types, you are going to love the next few lessons. But for everyone else, stick with it and persevere. It won't last long and can change your life forever. In this lesson, you are going to get your financial life in order and create version 1.0 of your cash flow plan. Many people call it a budget. I like to call it what it is - a plan for what you want your income to do for you.
It's time to get into the nitty gritty technical stuff in order for you to become a more informed investor. This lesson is an introduction to the economy and investing. You will learn what fixed income and equity investing means, what types of risks are out there and why people invest in the first place.
You likely have long range goals that require large amounts of money. Achieving them can feel a bit overwhelming or impractical. In this lesson, you will learn about different types of accounts, their tax advantages, and how to determine how much you need to save or invest on a monthly basis based on your comfort with market volatility (in other words, your risk tolerance) and your time horizon (how long you have before you want to buy that home, pay that college tuition or start your retirement).
In Module 3 of Purpose, Peace and Prosperity, you will plan for the unexpected (but not uncommon) life events. You will learn how to set up an emergency fund and lines of credit, you will learn why you need insurance and how to compare different insurance products including property, liability, health, life and disability.
The first place to start preparing for the unexpected is setting up an emergency cash fund. You may also want to set up lines of credit for additional protection. In this lesson, you will learn how much to have in your emergency fund, what types of investments are suitable as you grow your fund and different types of credit.
The purpose of insurance is to transfer risk off your shoulders to an insurance provider. In this lesson, you will learn what coverage you have in your home, auto, and liability insurance policies and how to compare quotes.
The next step in transferring risk takes us to looking at health, life and disability insurance. Learn about the different types of policies, understand the coverage you have and how to compare insurance quotes.
One thing is for certain - you will leave this Earth. Putting it more bluntly, you are going to die. Make sure you leave your estate (everything you own or owe) in good order. In this lesson you will learn why you need an estate plan and the basics about common components of estate planning including wills, trusts, power of attorneys, transfer-on-death, and payable-on-death.
The assignments from the previous modules have accumulated into your faith-based Financial Life Plan. If you are like most people, there is a gap between where you want to be and where you are today. In Module 4 of Purpose, Peace and Prosperity, you will create an action plan to fill in the gaps. Your action plan will align with your unique money personality in order to leverage your strengths and anticipate your challenges. Also in this module you will learn how you can use your talents and aspirations to leave a legacy that lasts.
Celebrate!! You have put together your first faith-based Financial Life Plan!!!! You know where you are and you know where you want to be. For some, it may look like the gap between where you are and where you want to be is larger than the Pacific Ocean, further than the dwarf plant Pluto, and as likely to happen as you winning a Nobel prize. Let's see about changing that. You've made great progress to reach this point and now you will tackle it like eating an elephant one bite at a time, metaphorically speaking.
What does it mean to leave a legacy that lasts and how does an ordinary person go about doing that? Let me tell you.....