What Does the Bible Say About

What Does the Bible Say About

Debt

Dangers of Debt

Thursday, August 27, 2015

Dangers of Debt

Proverbs 22:7 "The rich rules over the poor, and the borrower is slave of the lender."

Biblical Warnings on Debt

  • It is slavery! (Proverbs 22:7).
    • We cry over the evils of slavery in our country, and certainly great evils were committed.
    • The Bible is full of debt / slavery passages (2 Kings 4:1-7; Matt. 18:23-35; Luke 7:40-43; Neh. 5:1-5).
    • But we voluntarily submit ourselves to slavery by continuing to pay for things when we don’t have the money at the time.
      • Slaves to the car payment.
      • Slaves to the MasterCard, Best Buy, Sears, J.C. Penny, Kohl’s.
    • Romans 6:16 – Do you not know that to whom you present yourselves slaves to obey, you are that one's slaves whom you obey, whether of sin leading to death, or of obedience leading to righteousness?
  • “Sell the oil and pay your debt, and you and your sons live on the rest” (2 Kings 4:7).
    • This gives us the divine order.
    • It’s not live, and then pay the debt.
    • It’s pay the debt, and then live!
    • Pay your debt, don’t run away from it (Psalm 37:21).
  • Do not become surety for someone else’s debt.
    • Prov. 6:1-5 – Deliver yourself like a gazelle from the hand of the hunter…
    • Prov. 11:15 – He who is surety for a stranger will suffer for it, but one who hates being surety is secure.
    • Prov. 17:18 – One who lacks sense gives a pledge and puts up security in the presence of his neighbor.
    • Prov. 22:26-27 – Do not be one of those who shakes hands in a pledge, one of those who is surety for debts; if you have nothing with which to pay, why should he take away your bed from under you?

What are the spiritual consequences of debt?

  • Entangled (2 Timothy 2:4) and choked with the cares of this life (Luke 8:14).
    • Where your treasure is, there your “heart” will be also (Matthew 6:19-21).
  • A lack of ability to help serve in the kingdom of Jesus Christ because our finances are locked up in debt and our time is locked up finding ways to pay it off.
  • Slavery to the world, unequally yoked with unbelievers (2 Cor. 6:14-18).
    • We usually hear this passage applied to marriage.
    • Have we ever thought about applying this passage to debt?
    • When we join ourselves into yokes of financial slavery with unbelievers, it will harm our effectiveness in the kingdom’s work.
  • Strain on the marriage.
  • Why do people have 2nd and 3rd jobs, and work hours and hours of overtime?
    • Many times it is the debt!
    • So we send ourselves and our spouses into slavery because we keep wanting!
    • The Biblically defined purpose of work is:
      • To provide for necessities and feed the household (Gen. 3:19; 1 Tim. 5:8)
      • To help those in need (Eph. 4:28; Acts 20:33-35)
      • To assist the preaching of the gospel (Gal. 6:6; 1 Cor. 9:9-14; 1 Tim. 5:17-18)
      • To have a little enjoyment and rest from our labors (Eccl. 3:12-13).
    • How much of your paycheck is going to debt?  Who is your master?
  • Freedom is not truly experienced (Gal. 5:13).
  • The things we have purchased with debt are not fully enjoyed because we keep making the payments.
    • What if that car was yours free and clear?
    • What if that vacation was paid for with cash?
    • What if that TV is yours, and you got a sweet deal because you paid with cash?

Money Management

Thursday, August 27, 2015

Money Management

 

Biblical Principles on Money Management:

  1. Doesn’t matter how much money you make.
    1. Ecclesiastes 11:4 – “If you wait for perfect conditions, you will never get anything done” (TLB).
    2. If you are faithful with a few, you’ll be faithful with much (Luke 16:10).
      1. Wishing for $50,000 a year when you can’t manage $30,000 doesn’t solve the real problem.
      2. If I can afford a brand new van, expensive jewelry, and a fancy cell phone, but can’t pay for my own food, then my priorities are out of order.
      3. There is a time for government assistance for those who truly need it, but there is also a need for this society to expect people to take personal responsibility.
      4. Those who truly need help should not feel (or be made to feel) guilty (Deut. 15:7-11).
    3. Philippians 3:18-20 – Whose god is their appetite…but our citizenship is in heaven.
    4. “There is desirable treasure, and oil in the dwelling of the wise, but a foolish man squanders it” (Prov. 21:20).
    5. “He who loves pleasure will be a poor man, he who loves wine and oil will not be rich” (Proverbs 21:17).

 

  1. Be in control – know what’s going on!
    1. Is money my master, or am I a master to money!
    2. Good stewardship requires me to be wise with money.
      1. Stewardship implies faithfulness (1 Cor. 4:2; Matthew 25:14-30).
      2. Proverbs 27:23 – “Be diligent to know the state of your flocks, and attend to your herds.”
        1. We don’t have flocks and herds, maybe, but we do have a checking account!
        2. Does God want us to know what’s going on financially?  YES!
        3. Develop a budget, get good advice on how to do it.
      3. Luke 14:28-30 – The principle of counting the cost is taught / expected by Jesus.
    3. It requires me to plan!
      1. Proverbs 16:3  – “Commit your works to the Lord, and your thoughts will be established.”
      2. Proverbs 21:5 – “The plans of the diligent lead surely to plenty, but those of everyone who is hasty, surely to poverty.”
      3. Proverbs 24:27 – “Prepare your outside work, make it fit for yourself in the field; and afterward build your house.”
    4. I have to be a grownup now (Eph. 4:14; 1 Cor. 13:11; 14:20; Heb. 5:12-14).

 

  1. Little by Little
    1. God did not drive out the inhabitants of Canaan all at once, He did it “little by little” (Exodus 23:30; Deuteronomy 7:22).
    2. We need patience in all areas of life, especially finances (James 5:7-8).
    3. Proverbs 28:20 – “A faithful man will abound with blessings, but he who hastens (is in a hurry) to be rich will not go unpunished.”
      1. Impatience got you into this mess; impatience will not get you out of it!
      2. Compare to weight loss (you worked 20 years on that figure, and want to change it in 1 month).
      3. When you are in a hurry financially, bad decisions abound!
      4. People trying to get out of messes get very impulsive and desperate; they end up making things much worse, for an example see David in 2 Samuel 11.
    4. Is it worth the investment, if we do things God’s way? (Gal. 6:9).

 

  1. Simply My Life.
    1. Simply your banking and budgeting.
    2. Use cash as much as possible.
      1. You see the money leaving you.
      2. You don’t have 300 receipts in your wallet!
      3. You know what is in the account, instead of living in a fog because you have so many outstanding transactions.
    3. Do I need _____________?  When is the last time I used it?
    4. How much money do I spend caring for and storing things I never use that just clutter up my house?

 

 

Rethinking Money

Thursday, August 27, 2015

Rethinking Money

 

A Matter of the Heart

  • Proverbs 23:7 – For as a man thinks in his heart, so is he.
    • This passage was in the context of MONEY!
    • Proverbs 23:4-5 "Do not overwork to be rich; because of your own understanding, cease! Will you set your eyes on that which is not? For riches certainly make themselves wings; they fly away like an eagle toward heaven."
  • Matthew 6:21 "For where your treasure is, there your heart will be also."
    • Matthew 6:24 "No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and money."
    • Psalm 62:10 "...if riches increase, do not set your heart on them."
  • Luke 8:14 "...but as they go on their way they are choked by life's worries, riches and pleasures..."
  • Money isn’t the problem, is it?
  • We must be renewed (Ephesians 4:23) and transformed (Rom. 12:1-2) in our minds.

7 Deadly “Money” Sins

  • Selfishness (See Nabal, 1 Sam. 25:11, and the rich fool, Luke 12).
  • Covetousness (Luke 12:15; Col. 3:5).
  • Impulsiveness (Prov. 14:29).
  • Impatience (Prov. 13:11; 20:21; 21:5)
  • Lack of communication / unity (The virtuous woman and her husband, Prov. 31).
  • Ignorance (Prov. 1:5; 22:6-7).
  • Failure to plan (Prov. 24:27).

Money is God’s…He lets us use it.

  • The blessing of the Lord makes one rich, and He adds no sorrow to it (Prov. 10:22).
  • The earth is the Lord’s, and the fullness thereof (Psalm 24:1).
  • “My God shall supply all your need” (Phil. 4:19).

Money is primarily earned

  • Gen. 3:19 – By the sweat of your brow…
  • 2 Thessalonians 3:10 – If a man won’t work, neither shall he eat (see also 1 Thessalonians 4.
  • See also (1 Thes. 4:11; Acts 20:35; Ephesians 4:28).

Money is not promised equally to everyone.

  • Parable of the talents (Matthew 25:14-30).
  • If you work hard, save, invest, plan, and take risks in business, should you not be rewarded more than a person who sits around and waits for the government?
    • Social justice and redistribution of wealth is destructive.
    • When we do not expect people to work, we cripple our society for generations to come.

Money is a tool

  • It is our primary means of doing commerce.
  • Make yourselves friends by unrighteous mammon (Luke 16)
  • People used money to support:
    • Ministry (Luke 8:3; Phil. 4:10-19).
    • To support our families (1 Timothy 5:8).
    • To support those in need, both Christians and non-Christians (1 Cor. 16:1-3; Gal. 6:10; Eph. 4:28).
    • To have a little fun (Eccl. 3:13).

Money must be controlled

  • Money is paper and metal, it has no power in and of itself.
  • Money does not corrupt.
  • Our heart must change before our handling of money will ever change (1 Tim. 6:10)

Our attitude toward money and our use of money affects our fellowship with God

  • Luke 16:1-14 – Parable of the unjust steward
  • Matthew 25:14-30 – Parable of the talents
  • Malachi 3:8-10 – Our giving (Proverbs 3:9-10)
  • Haggai 1:3-7; Matthew 6:33 – Our priorities

 

Practical Tips for Saving Money

  • Eat at home.
  • Buy used cars.
  • Shop at the thrift store.
  • Cancel unneeded services.
  • Use couponmom.com
  • Use cash instead of constantly swiping a card, you can see your money being spent, the visual effect is important.
  • Wait for off season to purchase things (buy spring clothes in the fall, Christmas decorations after the holiday).
  • Having a good budget.
  • Go to the grocery store with a list (don’t go hungry, either!).
  • Pay credit cards off every month.
  • Making extra principle payments on mortgage.
  • Have an emergency fund.