Why this topic? It affects the decisions we make in our lives, our OPTIONS.
The history of debt
In the 1900 most homeowners owned their home outright and those who had mortgages were required to pay 50% down and pay it off in 5 years. How does this effect the cost of home right now? Who could do that now? It was not until after WWII that American began to use debt for freely, loan requirements were loosened and lenders became protected by federal law. THINK OF HOW HAPPY YOU ARE TO GET A LOAN? Like someone is doing you a favor! You are PAYING for the favor. CONSOLIDATE your debt and pay less each month means you PAY MORE INTEREST in the long run. 63% of Americans are ONE PAYCHECK AWAY from Financial disaster and cannot deal with a 500.00 emergency without using credit. MOST ADULTS HAVE LESS THAN 1000.00 in savings.
Debt is not prohibited in scripture = BUT it is warned against and having no debt is praised. There are many scripture verses that regulate debt both as the borrower and as the lender (not to charge exorbitant interest, to be merciful and gracious with repayment)
Deuteronomy 28:12 “The Lord will open to you his Good treasure, the heavens, to give the rain to your land in its season and to bless all the work of your hand. You shall lend to many nations but you shall not borrow”. We are to be the “head and not the tail”
Proverbs 22:7 The Rich Rule over the Poor, and the borrower is slave to the lender.
What does it mean to be a slave?
— Slave does not have freedom over their life. They must consider the will of the individual who owns them. We make lifestyle decisions, career choices (where to work based on earning enough), parenting choices (both parents have to work despite a desire for one to stay at home), Debt restricts our service to God (can’t be missionaries, spontaneous decision), our options are narrowed, and at times effects our decision to tithe or give in to the Kingdom of God. What is the cost of your slavery?
Ideas that cause the creation of debt.
- What motivations allowed the acquiring of debt? Is it lack of Satisfaction with what God has provided for you? WOW HOW DOES THE CREATOR FEEL ABOUT THAT ONE! Luke 16:10
Whoever can be trusted with very little can also be trusted with much and whoever is dishonest with very little will also be dishonest with much. So, if you have not been trustworthy in handling worldly wealth who will trust you with true riches? And if you have not been trustworthy with some else’s property who will give you property of your own? No one can serve two masters. Either you will hate the one and love the other and you will be devoted to the one and despise the other. You cannot serve both God and Money.” The question than becomes what are you doing or not doing that God may be considering untrustworthy? Are you managing what he is giving you well – I define well as to grow his kingdom! Are you using the resources given to you by God for the growth of the Church? To make Disciples. A KINGDOM mentality!!!
- Is there an ungodly drive for riches and a rich lifestyle at the root of your decisions? 1 Timothy 6:6 – 10 But Godliness with contentment is great gain. For we brought nothing in to this world and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into that temptation and a trap and in too many foolish and harmful desires that plunge people in to ruin and destruction. For the love of money is a root of all kinds of evil. Some people, especially eager for money have wandered from the faith and pierced themselves with many griefs.” In your desire and love of a rich lifestyle caused your Debt? And thus, your grief?
- Is your acquisition of Debt a sign of your impatience? “ I DESERVE IT!” God’s blessings are not coming fast enough – so you spend your blessing before it is received, and the blessing now becomes a need, obligation, a step to slavery. The Prodigal Son 15:11-32, When you discuss this need to pay off your debt – are you mindful of saying “I am sorry I spent my blessing before It was time”.
- Are you simply unwise and not seeking God in your spending decisions?
Hosea 4:6 my people are destroyed from lack of knowledge
- How does this effect your marriage and relationships?
- Men feeling, they don’t do enough, inadequate. This causes frustration. Are you partnered with your spouse in money management with a goal of SEWING in to God’s kingdom?
- Cannot help others due to lack of funds
- Cannot participate in fellowship activities due to lack of funds
- Cannot sew in to God’s work, mission activities etc. due to lack of funds.
GOD have given you enough to do all of these things – YOU HAVE JUST SPEND YOUR BLESSING BEFORE IT WAS RECEIVED, so NOW the blessing has become a need. God always gives you enough to fulfill your needs and SEW in to his kingdom – you are just spending his money and new shoes and pizza.
How to become financially blessed: tithe and gifts. The key principles of tithing and gifts.
1 Samuel 2:7 The Lord send poverty and wealth; he humbles and he exalts
Luke 6 :38 Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured in to your lap. For with the measure you use, it will be measured to you.
Malachi 3:10 Bring the whole tithe in to the storehouse, that there may be food in my house. TEST ME IN THIS, say the Lord, and see if I WILL NOT THROW OPEN THE FLOODGATES OF HEAVEN AND pour out so much blessing that there will not be room enough to store it.
Proverbs 10:22 The blessing of the LORD brings wealth, without painful toil for it.
Proverbs 19:17 Whoever is kind to the poor lends to the LORD and he will reward them for what they have done.
Proverbs 22:9 The generous will themselves be blessed, for they share their food with the poor.
Proverbs 28:22 The stingy are eager to get rich and are unaware that poverty awaits them.
Proverbs 28:27 Those who give to the poor will lack nothing, but those who close their eyes to them receive many curses.
Matthew 6:33 But seek first his kingdom and his righteousness, and all these things will be given to you as well.
2 Corinthians 9:6-8 Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for GOD loves a cheerful giver. And God is then able to bless you abundantly, so that in all things at all times, have all that you need, you will abound with every good work.”
Matthew 25:21 His mater replied, Well done, good and faithful servant! You have been faithful with a few things: I will put you in charge of many things. Come and share in your Masters happiness”
Proverbs 3:9-10 Honor the Lord with your wealth, with the first fruits of all your crops, then your barns will be filled to overflowing and your vats will bring over with new wine!!!
YOU ARE NOT MEANT TO BE THE POOR! We are to be the head not the tail. Jesus came to give us life and give it to us in abundance! Examine the teachings of the bible regarding your money and the principals of tithing and giving so you may be blessed and reclaimed from slavery and poverty.
When you are financially strapped, tithing and giving is a FAITH STEP…. God said “Test me in these things” giving when you are financially struggling is testing God and he will be faithful.
SCRIPTURE discourages debt. It condemns the misuse of debt and the failure to repay debts. (Psalm 37:21, Proverbs 3:27-28) If we take God’s word seriously, we should avoid debt. Going in to debt should be the rare occurrence NOT a way of life. We should be getting out of debt as soon as possible (2 Kings4:1, Matthew 25:25-26)
What do I do now?
Search your heart and be faithful in Tithing and giving. TEST the Lord!
Agree on a budget with your spouse and STICK To it!
Be grateful your needs are met.
Be repentant if you spent your blessing before it was received.
If you need to start a system of financial recovery I highly recommend Dave Ramsey and his book Total Money Makeover.