Money Map Coach Training August 2009 Michael Meyer Crown Money Map Coach
Week 1 Agenda <ul><li>Welcome </li></ul><ul><li>Logistics  (breaks, bathrooms, building exit) </li></ul><ul><li>Prayer </l...
Week 1 Agenda <ul><li>Money Map Goals </li></ul><ul><li>Roles & Responsibilities </li></ul><ul><li>Money Map Coach Trainin...
Money Map Coach Class Goals <ul><li>Learn basic biblical and practical financial principles </li></ul><ul><li>Learn Crown’...
Facilitator Roles & Responsibilities <ul><li>Pray for you on a weekly basis </li></ul><ul><li>Will provide a substitute if...
Money Map Coach Roles & Responsibilities <ul><li>Put these principles into practice in your own life </li></ul><ul><li>Pra...
Money Map Coach Kit – “Toolbox” <ul><li>Money Map Coach Training Course CD Welcome </li></ul><ul><li>Money Map Coach textb...
MMC Textbook & Course Overview <ul><li>Aug 19 Week 1 – Introduction/Course overview </li></ul><ul><li>Aug 26 Week 2 – God’...
Money Map Textbook Resources CD <ul><li>Crown pamphlets </li></ul><ul><li>Principles under Scrutiny </li></ul><ul><li>Snap...
Journey to Financial Freedom – “The System” <ul><li>Structured counseling approach  </li></ul><ul><ul><li>5 session approa...
Money Map <ul><li>Destination 1 Save $1000 </li></ul><ul><li>Destination 2 Pay off credit, create one-month savings </li><...
Coaching Realities <ul><li>We want a “quick-fix” to financial difficulties </li></ul><ul><ul><li>They did not get into deb...
Bankruptcies “ Big Three” Reasons Job Loss Medical problems Divorce or separation Other reasons Bad investment Crime victi...
Discretionary income, before and after divorce
Involuntary job loss  Annual Risk that married couples will face an involuntary job loss.  Analysis of data in Boisjoly, D...
Income drop when husband loses job The Two Income Trap, Why Middle Class Mothers & Fathers are Going Broke, Elizabeth Warren
Savings and Debt as a percent of personal income
The facts on Bankruptcy <ul><li>Single moms are 50% more likely than married parents to go bankrupt and 3 times more likel...
Key questions  (The Financial Fire Drill) <ul><li>Do you need two incomes to cover the household expenses? Can your family...
Characteristics of an “Effective Coach” <ul><li>Encourager  </li></ul><ul><li>Has a passion for improving other’s lives </...
Typical Training Session Agenda <ul><li>Prayer </li></ul><ul><li>Memory verse </li></ul><ul><li>Biblical principles </li><...
Homework Assignment (week 1) <ul><li>See p. 325 </li></ul><ul><ul><li>Review the welcome CD </li></ul></ul><ul><ul><li>Wha...
Week 2 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul>...
I Chronicles 29:11 <ul><li>Yours, O Lord is the greatness and power and the glory and the majesty and the splendor, for ev...
Homework Assignment (week 2) <ul><li>See p. 325 </li></ul><ul><ul><li>Becoming Debt Free Chapter 3 MMTB </li></ul></ul><ul...
Week 3 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul>...
Proverbs 22:7 <ul><li>The rich rule over the poor and the borrower is servant to the lender </li></ul>
Getting Out of the Big “D” ebt <ul><li>Pray </li></ul><ul><li>Get on a budget </li></ul><ul><li>List Your Assets and liabi...
Don’t Do the Dudley Do Right <ul><li>Have the best intentions with no plan to get there (lack of direction and specific go...
Rule of “72” Opportunity Cost  <ul><li>72 divided by interest rate is the time for money to double </li></ul><ul><li>72/6%...
Role Playing <ul><li>Money Map Coach see p. 319 in MMTB </li></ul><ul><ul><li>Develop and “practice” practical skills </li...
Homework Assignment (week 3) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 7 Peace and Contentment MMTB </li></ul...
Week 4 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>Explain your “system” </li></ul><ul><...
Philippians 4:11-13 <ul><li>I am not saying this because I am in need, for I have learned to be content whatever the circu...
Discipline <ul><li>“ The disciplined person is the person that can do what needs to be done when it needs to be done.  The...
Warning Signs & Questions <ul><li>Do you worry about your finances? </li></ul><ul><li>Do you think about money much? </li>...
Role Playing <ul><li>Money Map Coach see p. 319 in MMTB </li></ul><ul><ul><li>Develop and “practice” practical skills </li...
Homework Assignment (week 4) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 2 Giving Generously MMTB </li></ul></u...
Money Map Coach Do’s <ul><li>Be friendly </li></ul><ul><li>Be genuine in getting to know them </li></ul><ul><li>Ask them w...
Money Map Coach Do’s <ul><li>Meet at a neutral, quiet, location – church </li></ul><ul><li>Pray for both the client and yo...
Money Map Coach Do’s <ul><li>Describe what led you to become a coach and how you like to work (“elevator speech – 2 min. m...
Money Map Coach Don’ts <ul><li>Make judgments about financial behaviors.  Make rude/condescending noises or behaviors </li...
Week 5 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 4 p. 166 </li></ul><ul><li>Mo...
Ryrie on Giving <ul><li>“ How we use our money demonstrates the reality of our love for God.  In some ways it proves our l...
Acts 20:35b <ul><li>It is more blessed to give than to receive </li></ul>
Homework Assignment (week 5) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 4 Saving and Other Practical Principal...
Week 6 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 5 p. 172 </li></ul><ul><li>Mo...
Money Map Destination 4 <ul><li>Tithe and then pay yourself first, saving at least 10% either for major purchases (home, a...
Prov. 21:20 <ul><li>In the house of the wise are stores of choice food and oil, but a foolish man devours all he has. </li...
Homework Assignment (week 6) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 5 Family MMTB p. 66 </li></ul></ul><ul...
Week 7 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 6 p. 187 </li></ul><ul><li>Br...
Prov. 22:6 <ul><li>Train up a child in the way he should go and when he is old he will not turn from it. </li></ul>
Homework Assignment (week 7) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 6 Work MMTB p. 79 </li></ul></ul><ul><...
Week 8 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case Study 7 p. 193 </li></ul><ul><li>Br...
Home Purchase <ul><li>Beware of Adjustable Rate Mortgages (ARM) – Know the terms and read the contracts </li></ul><ul><li>...
Home Refinancing <ul><li>Never, Never, Never  refinance without reviewing the  difference in the interest rate and the tim...
Money Map Destination 5 <ul><li>Purchase a home and prepay the mortgage </li></ul><ul><li>Regularly invest surplus funds <...
Colossians 3:23-24 <ul><li>Whatever you do work at it with all your heart as working for the Lord, not for men, since you ...
Homework Assignment (week 8) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Complete Case Study 8, 9, 10 p. 199 and apply ...
Week 9 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case Study 8 & 9 p. 199 and observations...
Money Map Destination 6 <ul><li>Create an estate plan </li></ul><ul><ul><li>Train children in financial matters </li></ul>...
Homework Assignment (week 9) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Complete Case Study 11, 12 p. 242 and p. 246 a...
Week 10 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verses </li></ul><ul><li>Role Play Counseling Session using Case St...
Money Map Final Destination <ul><li>Retirement is funded </li></ul><ul><li>I am free to be more generous with my time and ...
Congratulations
The big “B” <ul><li>Refer to it as a spending plan, cash flow plan.  Does the client have a plan with purpose.  They proba...
Developing a Habit <ul><li>You need the knowledge (what to do) </li></ul><ul><li>Skill (how to do it) </li></ul><ul><li>De...
A Money Map Coach is Not <ul><li>A marriage counselor/coach </li></ul><ul><li>A lawyer </li></ul><ul><li>Tax accountant </...
Facilitator Role and Goals <ul><li>Motivate learning </li></ul><ul><ul><li>Provide additional resources where available </...
Facilitator Responsibilities <ul><li>Be prepared to facilitate class </li></ul><ul><li>Pray for you each week </li></ul><u...
Money Map Coach Responsibilities <ul><li>Be prepared complete the homework assignment </li></ul><ul><ul><li>Plan for 2 hou...
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Money Map Coach Training Slides August 2009

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  • Very interesting. Is there anyway I can get the training online or the training material . Please advise.
    God bless

    vincent8873@yahoo.com.hk
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Money Map Coach Training Slides August 2009

  1. 1. Money Map Coach Training August 2009 Michael Meyer Crown Money Map Coach
  2. 2. Week 1 Agenda <ul><li>Welcome </li></ul><ul><li>Logistics (breaks, bathrooms, building exit) </li></ul><ul><li>Prayer </li></ul><ul><li>Introductions </li></ul><ul><ul><li>Name, church affiliation, reason for attending training (why you want to become a Money Map Coach, how you became interested in Crown, top 2 heroes from the bible and why) </li></ul></ul>
  3. 3. Week 1 Agenda <ul><li>Money Map Goals </li></ul><ul><li>Roles & Responsibilities </li></ul><ul><li>Money Map Coach Training Course Kit </li></ul><ul><ul><li>Money Map Coach Training Course CD </li></ul></ul><ul><ul><li>Money Map Coach textbook </li></ul></ul><ul><ul><li>Money Map Training Course Textbook Resources CD </li></ul></ul><ul><ul><li>Journey to Financial Freedom - “A System” </li></ul></ul><ul><ul><li>Family Financial Workbook </li></ul></ul><ul><ul><li>Crown Financial Ministries Money Map </li></ul></ul>
  4. 4. Money Map Coach Class Goals <ul><li>Learn basic biblical and practical financial principles </li></ul><ul><li>Learn Crown’s budgeting method </li></ul><ul><li>Learn coaching methods </li></ul><ul><li>Become familiar with financial terms, consumer laws and Money Map Coaching techniques </li></ul><ul><li>Become Crown referral coaches to teach and reach people to become better stewards </li></ul><ul><li>Establish relationships among coaches for future consultation </li></ul>
  5. 5. Facilitator Roles & Responsibilities <ul><li>Pray for you on a weekly basis </li></ul><ul><li>Will provide a substitute if I must be absent from class </li></ul><ul><li>Primary encourager </li></ul><ul><li>Facilitate peer-to-peer learning </li></ul><ul><li>Contact you if you are absent </li></ul><ul><li>Start and end on time </li></ul><ul><li>Address your questions </li></ul><ul><ul><li>Find an answer or define a resource who has the answer </li></ul></ul>
  6. 6. Money Map Coach Roles & Responsibilities <ul><li>Put these principles into practice in your own life </li></ul><ul><li>Pray for classmates </li></ul><ul><li>Attend 8 of the 10 sessions </li></ul><ul><li>Complete the required homework </li></ul><ul><li>Be an active course participant, not a course “auditor” </li></ul><ul><li>Begin developing a team of resource people to assist in your ministry </li></ul>
  7. 7. Money Map Coach Kit – “Toolbox” <ul><li>Money Map Coach Training Course CD Welcome </li></ul><ul><li>Money Map Coach textbook </li></ul><ul><li>Money Map Training Course Textbook Resources CD </li></ul><ul><li>Journey to Financial Freedom - “System” </li></ul><ul><li>Family Financial Workbook </li></ul><ul><li>Crown Financial Ministries Money Map </li></ul><ul><li>Personality ID </li></ul>
  8. 8. MMC Textbook & Course Overview <ul><li>Aug 19 Week 1 – Introduction/Course overview </li></ul><ul><li>Aug 26 Week 2 – God’s Ownership Our Stewardship </li></ul><ul><li>Sept 2 Week 3 – Week Off </li></ul><ul><li>Sept 9 Week 4 – Debt, Case 1 </li></ul><ul><li>Sept 16 Week 5 – Peace and Contentment, Case 2, 3 </li></ul><ul><li>Sept 23 Week 6 – Giving, Case 4 </li></ul><ul><li>Sept 30 Week 7 – Saving and Other Principles, Case 5 </li></ul><ul><li>Oct 7 Week 8 – Family, Case 6 </li></ul><ul><li>Oct 14 Week 9 – Work, Case 7 </li></ul><ul><li>Oct 21 Week 10 – Case Studies 8, 9, 10 </li></ul><ul><li>Oct 28 Week 11 – Case Studies 11, 12 </li></ul>
  9. 9. Money Map Textbook Resources CD <ul><li>Crown pamphlets </li></ul><ul><li>Principles under Scrutiny </li></ul><ul><li>Snapshot Gold </li></ul><ul><li>Categorical Index of scripture & money </li></ul><ul><li>Compass – Crown Vision </li></ul><ul><li>Starting Crown in City </li></ul><ul><li>Starting Crown in Church </li></ul>
  10. 10. Journey to Financial Freedom – “The System” <ul><li>Structured counseling approach </li></ul><ul><ul><li>5 session approach </li></ul></ul><ul><li>Other “systems” </li></ul><ul><ul><li>copy the forms </li></ul></ul><ul><ul><li>use paper </li></ul></ul><ul><ul><li>purchase the books for clients </li></ul></ul><ul><ul><li>require the client to make an investment </li></ul></ul><ul><ul><li>provided by your/their church </li></ul></ul>
  11. 11. Money Map <ul><li>Destination 1 Save $1000 </li></ul><ul><li>Destination 2 Pay off credit, create one-month savings </li></ul><ul><li>Destination 3 Pay consumer debt create 3 months Savings </li></ul><ul><li>Destination 4 Save for major purchases </li></ul><ul><li>Destination 5 Prepay mortgage and invest </li></ul><ul><li>Destination 6 Mortgage payoff, education funded, Estate plan in place </li></ul><ul><li>Destination 7 Retirement fully funded </li></ul>
  12. 12. Coaching Realities <ul><li>We want a “quick-fix” to financial difficulties </li></ul><ul><ul><li>They did not get into debt overnight and will not get out of debt overnight “Microwave mindset” </li></ul></ul><ul><li>70% of people will not follow-through and complete the training </li></ul><ul><ul><li>10-30% may have a life changing experience, your role may be to plant a seed </li></ul></ul><ul><li>Financial difficulties may only be indicative of other potential issues </li></ul><ul><ul><li>Need to know the limits of your counsel and have other resources or professionals you can refer to </li></ul></ul><ul><li>Each counseling situation is unique and depends on both the person and “case” </li></ul><ul><ul><li>There is no “cookbook” solution, just sound biblical principals </li></ul></ul>
  13. 13. Bankruptcies “ Big Three” Reasons Job Loss Medical problems Divorce or separation Other reasons Bad investment Crime victim Credit card overspending Natural disaster Other explanation No explanation Source: 2001 Bankruptcy Project The Two Income Trap Why Middle Class Mothers and Fathers are Going Broke, Elizabeth Warren, 2003
  14. 14. Discretionary income, before and after divorce
  15. 15. Involuntary job loss Annual Risk that married couples will face an involuntary job loss. Analysis of data in Boisjoly, Duncan and Smeeding
  16. 16. Income drop when husband loses job The Two Income Trap, Why Middle Class Mothers & Fathers are Going Broke, Elizabeth Warren
  17. 17. Savings and Debt as a percent of personal income
  18. 18. The facts on Bankruptcy <ul><li>Single moms are 50% more likely than married parents to go bankrupt and 3 times more likely than childless couples </li></ul><ul><li>One in every 38 single moms file for bankruptcy </li></ul><ul><li>Single moms who have been to college are 60% more likely to end up bankrupt </li></ul><ul><li>80% of single moms are over 30 </li></ul>
  19. 19. Key questions (The Financial Fire Drill) <ul><li>Do you need two incomes to cover the household expenses? Can your family survive without one income? </li></ul><ul><li>Can you downshift the fixed expenses? </li></ul><ul><ul><li>Needs rather than wants and desires </li></ul></ul><ul><ul><li>Can you manage without a newer car </li></ul></ul><ul><ul><li>Can you sign up for lower health care coverage </li></ul></ul><ul><ul><li>Can you send kids to a less expensive school </li></ul></ul><ul><ul><li>Should you move to a cheaper house – “downsize” do not stretch yourself to buy a house that you cannot afford. The fact you have been approved for a mortgage is no guarantee that you can actually afford it. </li></ul></ul><ul><li>What is your emergency backup plan? </li></ul><ul><ul><li>What-if you lose your job </li></ul></ul><ul><ul><li>What-if a parent becomes ill </li></ul></ul><ul><ul><li>What are your long-term commitments </li></ul></ul>
  20. 20. Characteristics of an “Effective Coach” <ul><li>Encourager </li></ul><ul><li>Has a passion for improving other’s lives </li></ul><ul><li>Good listener and observer </li></ul><ul><li>Identifies weaknesses and defines a method to minimize those weaknesses </li></ul><ul><li>Understands what the “stats” mean in developing a plan to achieve a goal </li></ul>
  21. 21. Typical Training Session Agenda <ul><li>Prayer </li></ul><ul><li>Memory verse </li></ul><ul><li>Biblical principles </li></ul><ul><li>Practical Subjects </li></ul><ul><li>Role Playing </li></ul><ul><li>Review next week’s assignment </li></ul><ul><li>Prayer requests/prayer </li></ul>
  22. 22. Homework Assignment (week 1) <ul><li>See p. 325 </li></ul><ul><ul><li>Review the welcome CD </li></ul></ul><ul><ul><li>What Makes a Good Coach p. 310-311 </li></ul></ul><ul><ul><li>Chapter 1 God Owns Everything </li></ul></ul><ul><ul><li>Complete Personality ID and review text discussion on p. 93-96 </li></ul></ul><ul><ul><li>Review “Family Budgeting” Topic in Pamphlets </li></ul></ul>
  23. 23. Week 2 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul><ul><li>Break </li></ul><ul><li>Coaching Demo </li></ul><ul><ul><li>p. 319 -323 </li></ul></ul><ul><li>Personality Exercises </li></ul><ul><ul><li>p. 313 </li></ul></ul>
  24. 24. I Chronicles 29:11 <ul><li>Yours, O Lord is the greatness and power and the glory and the majesty and the splendor, for everything in the heaven and earth is yours. Yours O Lord, is the kingdom; you are exalted as head over all. </li></ul>
  25. 25. Homework Assignment (week 2) <ul><li>See p. 325 </li></ul><ul><ul><li>Becoming Debt Free Chapter 3 MMTB </li></ul></ul><ul><ul><li>Review the listening guidelines on p. 315-316 </li></ul></ul><ul><ul><li>Complete Case Study 1 </li></ul></ul><ul><ul><li>Review Building Trust MMTB p. 317-318 </li></ul></ul><ul><ul><li>Review the Family Financial Workbook Chapters 1-3 </li></ul></ul>
  26. 26. Week 3 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul><ul><li>Break </li></ul><ul><li>Role Play Counseling Session using Case study 1, step 5 p. 319 </li></ul>
  27. 27. Proverbs 22:7 <ul><li>The rich rule over the poor and the borrower is servant to the lender </li></ul>
  28. 28. Getting Out of the Big “D” ebt <ul><li>Pray </li></ul><ul><li>Get on a budget </li></ul><ul><li>List Your Assets and liabilities </li></ul><ul><li>Pay bills with cash – stop using credit </li></ul><ul><li>Establish a debt repayment plan </li></ul><ul><li>Do not give up </li></ul>
  29. 29. Don’t Do the Dudley Do Right <ul><li>Have the best intentions with no plan to get there (lack of direction and specific goals) </li></ul><ul><li>Moving forward in life with a backward looking plan </li></ul>
  30. 30. Rule of “72” Opportunity Cost <ul><li>72 divided by interest rate is the time for money to double </li></ul><ul><li>72/6% is equal to 12 years </li></ul><ul><li>$1000 this year will be worth $2000 down the road </li></ul>
  31. 31. Role Playing <ul><li>Money Map Coach see p. 319 in MMTB </li></ul><ul><ul><li>Develop and “practice” practical skills </li></ul></ul><ul><ul><li>Develop a system </li></ul></ul><ul><ul><li>Define areas requiring improvement </li></ul></ul><ul><li>Coaching participant </li></ul><ul><ul><li>Empathize with the participant </li></ul></ul><ul><ul><li>See things from their point of view </li></ul></ul><ul><li>Observer Note/Taker </li></ul><ul><ul><li>Highlight positive observations </li></ul></ul><ul><ul><li>Potential improvement areas </li></ul></ul>
  32. 32. Homework Assignment (week 3) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 7 Peace and Contentment MMTB </li></ul></ul><ul><ul><li>Review p. 116-135 MMTB </li></ul></ul><ul><ul><li>Complete Case Studies 2 & 3, p.116-135 </li></ul></ul><ul><ul><li>FFW Chapters 4-6 </li></ul></ul><ul><ul><li>Assemble your “system” this week </li></ul></ul>
  33. 33. Week 4 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>Explain your “system” </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul><ul><li>Break </li></ul><ul><li>Role Play Counseling Session using Case study 2,3 step 5 p. 319 </li></ul>
  34. 34. Philippians 4:11-13 <ul><li>I am not saying this because I am in need, for I have learned to be content whatever the circumstances. I know what it is to have plenty. I have learned the secret of being content in any and every situation whether well fed or hungry, whether living in plenty or in want. I can do everything through him who gives me strength. </li></ul>
  35. 35. Discipline <ul><li>“ The disciplined person is the person that can do what needs to be done when it needs to be done. The disciplined person is the person who can live in the appropriateness of the hour. The extreme Ascetic and the glutton have exactly the same problem; they cannot live appropriately; they cannot do what needs to be done. The disciplined person is the free person” Richard Foster </li></ul>Reasons to Be Glad – Decision Magazine, 1988
  36. 36. Warning Signs & Questions <ul><li>Do you worry about your finances? </li></ul><ul><li>Do you think about money much? </li></ul><ul><li>Do you feel at peace about your current financial situation? </li></ul><ul><li>Do you currently have overdue bills? </li></ul><ul><li>How many hours are you working? </li></ul><ul><li>How are you doing on your savings goals? </li></ul><ul><li>Are you sleeping okay? </li></ul><ul><li>Are you and your spouse arguing about money? </li></ul><ul><li>Are you receiving calls from creditors? </li></ul>
  37. 37. Role Playing <ul><li>Money Map Coach see p. 319 in MMTB </li></ul><ul><ul><li>Develop and “practice” practical skills </li></ul></ul><ul><ul><li>Develop a system </li></ul></ul><ul><ul><li>Define areas requiring improvement </li></ul></ul><ul><li>Coaching participant </li></ul><ul><ul><li>Empathize with the participant </li></ul></ul><ul><ul><li>See things from their point of view </li></ul></ul><ul><li>Observer Note/Taker </li></ul><ul><ul><li>Highlight positive observations </li></ul></ul><ul><ul><li>Potential improvement areas </li></ul></ul>
  38. 38. Homework Assignment (week 4) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 2 Giving Generously MMTB </li></ul></ul><ul><ul><li>Complete Case Study 4 </li></ul></ul><ul><ul><li>FFW Chapters 7-9 </li></ul></ul><ul><ul><li>Review Giving and Tithing in the Crown Pamphlets on the Money Map Training Course CD </li></ul></ul>
  39. 39. Money Map Coach Do’s <ul><li>Be friendly </li></ul><ul><li>Be genuine in getting to know them </li></ul><ul><li>Ask them why they have come to see you? </li></ul><ul><li>Clearly define the reason the client is consulting with you and the consultation goal </li></ul><ul><li>Ensure there is clear understanding about goals and your expectations and their responsibilities to enable them to meet their goals </li></ul>
  40. 40. Money Map Coach Do’s <ul><li>Meet at a neutral, quiet, location – church </li></ul><ul><li>Pray for both the client and yourself </li></ul><ul><li>Counsel only members of the same gender if single. </li></ul><ul><li>Counsel couples only if both spouses attend </li></ul><ul><li>Ensure the client understands the counsel is “biblically based” </li></ul><ul><li>The client defines the coaching process progress </li></ul>
  41. 41. Money Map Coach Do’s <ul><li>Describe what led you to become a coach and how you like to work (“elevator speech – 2 min. max) </li></ul><ul><li>Encourage and recognize what the client is doing right </li></ul><ul><li>Point out opportunities for them to achieve their goal </li></ul><ul><li>Ask for a clear commitment to counseling and hold the client accountable for developing a solution </li></ul><ul><li>Ask them to purchase the accompanying materials </li></ul><ul><li>Define the biblical guidance for practical instruction </li></ul><ul><li>Maintain a calm demeanor </li></ul>
  42. 42. Money Map Coach Don’ts <ul><li>Make judgments about financial behaviors. Make rude/condescending noises or behaviors </li></ul><ul><li>Stop the pregnant pause, wait for the answer </li></ul><ul><li>Talk over your client </li></ul><ul><li>Own a clients financial issues, they must deal with the issues personally </li></ul><ul><li>Push your client to move forward in the process </li></ul>
  43. 43. Week 5 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 4 p. 166 </li></ul><ul><li>Money Map introduction and discussion Destination 1 - 3 </li></ul><ul><li>Break </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul>
  44. 44. Ryrie on Giving <ul><li>“ How we use our money demonstrates the reality of our love for God. In some ways it proves our love more conclusively than depth of knowledge, length of prayers or prominence of service. These things can be feigned, but the use of our possessions shows up for what we actually are.” – Charles Ryrie </li></ul>
  45. 45. Acts 20:35b <ul><li>It is more blessed to give than to receive </li></ul>
  46. 46. Homework Assignment (week 5) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 4 Saving and Other Practical Principals MMTB </li></ul></ul><ul><ul><li>Complete Case Study 5 </li></ul></ul><ul><ul><li>Review Gambling and Lotteries in the Crown Pamphlets on the Money Map Training Course CD </li></ul></ul>
  47. 47. Week 6 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 5 p. 172 </li></ul><ul><li>Money Map discussion Destination 4 </li></ul><ul><li>Break </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul>
  48. 48. Money Map Destination 4 <ul><li>Tithe and then pay yourself first, saving at least 10% either for major purchases (home, auto or business) </li></ul><ul><li>Put money in a 401-K, 403B to get all the employer matching funds </li></ul><ul><li>Fund a Roth IRA </li></ul><ul><li>Start saving for children education </li></ul><ul><ul><li>529, Coverdell Savings Account </li></ul></ul><ul><ul><li>UGMA </li></ul></ul>
  49. 49. Prov. 21:20 <ul><li>In the house of the wise are stores of choice food and oil, but a foolish man devours all he has. </li></ul>
  50. 50. Homework Assignment (week 6) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 5 Family MMTB p. 66 </li></ul></ul><ul><ul><li>Complete Case Study 6 p. 187 </li></ul></ul><ul><ul><li>Review Insurance in the Crown Pamphlets on the Money Map Training Course CD link or at the Crown Web Site </li></ul></ul>
  51. 51. Week 7 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case study 6 p. 187 </li></ul><ul><li>Break </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul>
  52. 52. Prov. 22:6 <ul><li>Train up a child in the way he should go and when he is old he will not turn from it. </li></ul>
  53. 53. Homework Assignment (week 7) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Chapter 6 Work MMTB p. 79 </li></ul></ul><ul><ul><li>Complete Case Study 7 p. 193 </li></ul></ul><ul><ul><li>Review Major Purchases in the Crown Pamphlets on the Money Map Training Course CD link or the Crown web site </li></ul></ul>
  54. 54. Week 8 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case Study 7 p. 193 </li></ul><ul><li>Break </li></ul><ul><li>Review Major Purchases </li></ul><ul><li>Money Map Destination 5 </li></ul><ul><li>Memory Verse Review </li></ul><ul><li>How would you respond? Chapter 6 p. 88 </li></ul><ul><ul><li>Biblical basis reference </li></ul></ul>
  55. 55. Home Purchase <ul><li>Beware of Adjustable Rate Mortgages (ARM) – Know the terms and read the contracts </li></ul><ul><li>Do not pay property mortgage insurance (PMI) get the 20% in principal </li></ul><ul><li>Fixed rate mortgage allows you to control interest paid </li></ul><ul><ul><li>One additional payment per year 25 year loan </li></ul></ul><ul><ul><li>Two additional payments per year 20 year loan </li></ul></ul><ul><li>Don’t spend a dollar on a loan to get a 20 cent tax break </li></ul>
  56. 56. Home Refinancing <ul><li>Never, Never, Never refinance without reviewing the difference in the interest rate and the time it would take you recover the cost of refinancing </li></ul><ul><ul><li>If the return on investment is 12- 15 months should probably refinance </li></ul></ul><ul><ul><li>If the return on investment is 24-36 months should consider the length of time that you will remain in the home </li></ul></ul><ul><li>Never, Never, Never refinance to increase cash flow, look at the total loan cost. </li></ul>
  57. 57. Money Map Destination 5 <ul><li>Purchase a home and prepay the mortgage </li></ul><ul><li>Regularly invest surplus funds </li></ul><ul><li>Invest raises or bonuses after tithing </li></ul><ul><li>Ensure you have adequate investment diversification </li></ul><ul><li>Ensure you have considered time and risk in asset allocation strategy </li></ul><ul><li>Have a wise tax strategy </li></ul><ul><ul><li>Ensure income production is tax sheltered </li></ul></ul><ul><ul><li>Growth/long term capital gains are taxed at lower rate than income (for now !!! ) </li></ul></ul>
  58. 58. Colossians 3:23-24 <ul><li>Whatever you do work at it with all your heart as working for the Lord, not for men, since you know you will receive an inheritance from the Lord. It is the Lord Christ you are serving. </li></ul>
  59. 59. Homework Assignment (week 8) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Complete Case Study 8, 9, 10 p. 199 and apply scriptures to the discussion </li></ul></ul><ul><ul><li>Review Widow’s Guide; Bankruptcy in the Crown Pamphlets on the Money Map Training Course CD link or the Crown web site </li></ul></ul>
  60. 60. Week 9 Agenda <ul><li>Prayer </li></ul><ul><li>Role Play Counseling Session using Case Study 8 & 9 p. 199 and observations </li></ul><ul><li>Break </li></ul><ul><li>Role Play Counseling Session using Case Study 10 p. 222 and observations </li></ul><ul><li>Money Map Destination 6 </li></ul><ul><li>Review Widows Guide & Bankruptcy information </li></ul>
  61. 61. Money Map Destination 6 <ul><li>Create an estate plan </li></ul><ul><ul><li>Train children in financial matters </li></ul></ul><ul><ul><li>Disperse those funds at some age of maturity </li></ul></ul><ul><ul><li>Decide how and for what purpose </li></ul></ul><ul><ul><li>Periodically review your estate plan (every three years) </li></ul></ul>
  62. 62. Homework Assignment (week 9) <ul><li>See p. 325 - 326 </li></ul><ul><ul><li>Complete Case Study 11, 12 p. 242 and p. 246 apply scriptures to the discussion </li></ul></ul><ul><ul><li>Read Money Map Coaching section of the church manual </li></ul></ul>
  63. 63. Week 10 Agenda <ul><li>Prayer </li></ul><ul><li>Memory Verses </li></ul><ul><li>Role Play Counseling Session using Case Study 11 p. 228 and observations </li></ul><ul><li>Break </li></ul><ul><li>Role Play Counseling Session using Case Study 12 p. 234 and observations </li></ul><ul><li>Money Map Destination 6 </li></ul><ul><li>Money Map Destination 7 </li></ul><ul><li>Continuing Education for Future </li></ul>
  64. 64. Money Map Final Destination <ul><li>Retirement is funded </li></ul><ul><li>I am free to be more generous with my time and money </li></ul>
  65. 65. Congratulations
  66. 66. The big “B” <ul><li>Refer to it as a spending plan, cash flow plan. Does the client have a plan with purpose. They probably do not know what they are spending where </li></ul><ul><li>Don’t overcomplicate the spending plan follow the KISS principle </li></ul><ul><li>Takes about 2-6 hours to complete and about 30-60 minutes/week to manage </li></ul><ul><ul><li>Must have a “system” </li></ul></ul><ul><li>Ensure the person or couple operate on a spending plan for at least 90 days. </li></ul>
  67. 67. Developing a Habit <ul><li>You need the knowledge (what to do) </li></ul><ul><li>Skill (how to do it) </li></ul><ul><li>Desire (the want to do it) </li></ul>The Seven Habits of Highly Effective People, Stephen Covey
  68. 68. A Money Map Coach is Not <ul><li>A marriage counselor/coach </li></ul><ul><li>A lawyer </li></ul><ul><li>Tax accountant </li></ul>
  69. 69. Facilitator Role and Goals <ul><li>Motivate learning </li></ul><ul><ul><li>Provide additional resources where available </li></ul></ul><ul><ul><li>If I don’t know I will find someone who knows </li></ul></ul><ul><li>Point you in the right direction </li></ul><ul><li>Encourage you </li></ul><ul><li>Focus on key ideas </li></ul><ul><li>Help you develop confidence in the skills </li></ul>
  70. 70. Facilitator Responsibilities <ul><li>Be prepared to facilitate class </li></ul><ul><li>Pray for you each week </li></ul><ul><li>Start and end on time </li></ul><ul><li>Will be here or will have a substitute if I must be out </li></ul><ul><li>Contact you if you miss class </li></ul>
  71. 71. Money Map Coach Responsibilities <ul><li>Be prepared complete the homework assignment </li></ul><ul><ul><li>Plan for 2 hours/week </li></ul></ul>

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