Goal Setting and Planning

“For I know the plans I have you declares the Lord. Plans to prosper you and not to harm you. Plans to give you hope and a future.”

Jer. 29:11

“As we journey through this life - through the easy times and the painful times - God is fashioning us into people who are like his Son, Jesus. That means God is in the process of changing what we desire far more than he is in the process

of giving us what we desire.” - Charles Stanley

In this study we will examine your life plan and assist you with creating goals and a plan for your life. Sadly, most people do not have a written plan for their life. According to Brian Tracy, less than 3 percent of people have written goals. You can change that today.

Previously, we talked about Alice in Wonderland. From her exchange with the Mad Hatter we coined this quote:

“If you don’t know where you are going, then any road will get you there!”

Without a plan you don’t know where you are going. God did not intend for you to just exist. His will for you is that you would prosper.

For I know the plans I have you declares the Lord. Plans to prosper you and not to harm you. Plans to give you hope and a future. Jer. 29:11

There are 4 primary areas of your life:

✓ Personal ✓ Vocational ✓ Spiritual ✓ Educational

In each of these areas (Personal, Vocational, Spiritual and Educational) you need to break down your goals into these sub-categories: Short term (less than 1 year). Midterm 1-2 years and Long Term (more than 3 years). Start with four sheets of paper (one for each area).

Without written goals you only have thoughts. Written goals give you a ‘map’ to follow. Written goals are like a road map for your life. The goals are your plan and in each goal you should not only have the time frame but the plan that you must get there. Some goals may change, some parts of the plan may change but this road map gives you direction.

Students do a Goal Setting exercise by writing some of their goals and their expected time frame and plan for achievement. Then, share your goals with a counselor, trusted friend or if you are brave, a small group.

The Seven Baby Steps - Begin Your Journey to Financial Peace37

Author and Teacher Dave Ramsey has developed an excellent way to focus on your financial goals. His plan helps you get out of debt the same way you learned to walk—one step at a time. Here's the process:

Baby Step 1 Save $1,000 to start an Emergency

Fund. An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen. Without a plan – you plan to fail!

Baby Step 2

Pay off all debt using the Debt Snowball. List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first.

Baby Step 3

3 to 6 months of expenses in savings. Once you complete the first two baby steps, you will have built serious momentum. But don’t start throwing all your “extra” money into investments quite yet. It’s time to build your full emergency fund.

Baby Step 4 Invest 15% of household income into Roth IRAs and pre-tax

retirement. When you reach this step, you’ll have no payments—except your house—and a fully funded emergency fund. Now it’s time to get serious about building wealth.

37 http://www.daveramsey.com/new/baby-steps/

Baby Step 5

College funding for children. By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now.

Baby Step 6

Pay off home early. Now it’s time to begin chunking all your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments.

Baby Step 7

Build wealth and give! It’s time to build wealth and give like never before. Leave an inheritance for future generations and bless others now with your excess. It's really the only way to live!

CHAPTER FOUR – LESSON ONE

1. 2.

IF you break it down into ____ _____you can do anything. If you don’t _____ where ___ are going, then any ____ will get you there. 3. What percent of people have written goals?

4.

a. b.

c. d.

5.

a. b.

c. d.

e. f.

g. What are the 4 Primary areas of your life?

List the 7 Baby Steps to Financial Peace

CHAPTER FIVE