VIDEO TRANSCRIPTION – We’re talking about budgeting, stewardship first. Within budgeting, we’re going to talk about the 80-20 rule. How much money you should have put back in one reserve and then what you should be striving for in your second reserve.
What’s the 80-20 rule? If you make $100,000 a year doing this basic math, you should be able to live off of, I mean, you should be able to save $20,000 a year.
For my Christian brothers and sisters, 10 % Tithes, what you do with the other 10%, that should be going towards investing or retirement. You should be able to live off of $80,000 a year or 80%. If you cannot live off of 80%, that means you’re overspending. So you need to change your spending habits. Sometimes we want to be like the Joneses, the Smiths, the Williams. Be who you are.
I’m just a big old country boy from Oklahoma City. That God has placed purpose in me.
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