A
Message by Pastor Michael Palmer
Given
to
July
18, 2010
DEBT’S DANGERS
1 TIMOTHY 6:6-10
SOME STATISTICS ON DEBT IN
·
On average, today’s consumer has a total of 13
credit obligations on record at a credit bureau. These include credit cards
(such as department store charge cards, gas cards, or bank cards) and
installment loans (auto loans, mortgage loans, student loans, etc.).Not
included are savings and checking accounts (typically not reported to a credit
bureau). Of these 13 credit obligations, nine are likely to be credit cards and
four are likely to be installment loans. (Source: myfico.com)
·
The median
·
Of the households that do owe money on credit cards,
the median balance was $2,200—meaning half owe, half less. (Source: MSN Money)
·
8.3 percent of households owe $9,000 or more on
their cards (Source MSN Money)
·
“Even before starting school, the likelihood of
having a television in their bedroom is 25 percent, and their viewing time is
just over two hours a day. Upon arrival at the schoolhouse steps, they typical
first grader can evoke 200 brands. And he or she has already accumulated an
unprecedented number of possessions, beginning with an average of 70 new toys a
year.”
·
Nearly 40% of financial planners who have worked
with divorcing couples say it’s frequently a “key factor” in couples’ decisions
to split up, according to the FPA’s survey.” (Divorcing) couples can’t agree on
spending styles, earning capacities and what to spend money on,” says Susan
Pease Gadoua, a divorce therapist in
Let’s read together 1 Timothy 6:3-14 (focus on
verses 6-12)
For many of you debt, problems have become normal.
Here are some indicators you might be in bondage to
debt:
1. YOU ARE
LIVING MONTH TO MONTH
2. YOU ARE
PAYING THE MINIMUM PAYMENTS
3. YOU ARE
MOVING BALANCES INSTEAD OF REPAYING BALANCES
4. YOU ARE
UNABLE TO GIVE OR TO TITHE OR RESPOND TO THE CALL OF GOD ON YOUR LIFE.
USING MONEY WELL (AND GETTING OUT OF DEBT) REQUIRES
A CONTENT HEART, A CAUTIOUS SPIRIT, AND A CORRECT VIEW OF MONEY.
1. A
CONTENT HEART (vs. 6-8)
Getting Out of Debt Requires a Content Heart, a
Cautious Spirit, and a Correct View of Money.
“But
godliness with contentment is a great gain. For we brought nothing into the
world, and we can take nothing out. But if we have food and clothing, we will
be content with these.”
Contentment=
1. A
perfect condition of life which no aid or support is needed.
2. Sufficiency
of the necessities of life.
3. A mind
contented with its lot- settled in God’s sufficiency. The amplified version
says: “that contentment which is a sense of inward sufficiency.” In other
words…there is something substantive going on with you and Jesus! And that
fellowship with Him is applied in the area of your finances. Your “wanter” is
fixed on Him!
Proverbs
15:16 “Better a little with the fear of the Lord than great treasure with turmoil.”
Colossians
3:5 “Therefore, put to death whatever in you is worldly: sexual immorality,
impurity, lust, evil, desire, and greed,
which is idolatry.”
Greed is idolatry- more on that next week.
For example, look at the Ten Commandments. They start
and end with putting God first. “You shall have no other God’s before me” and
the last is “You shall not covet.”
Living simply is to live freely.
There is a whole world dedicated to taking away your
contentment. Some say that the economy exists by such. We are bombarded by
advertisements saying we need this or that product. There is a sale at a
certain store. ..you must buy it now!
BUT, MONEY IS A COMPETITOR TO YOUR HEART’S DESIRE TO
LOVE GOD.
You can’t love God and …Satan/The World. No, you
can’t love God and money.
Matthew
6:24 “No one can be a slave of two masters, since either he will hate one and
love the other, or be devoted to one and despise the other. You cannot be
slaves of God and of money.”
Getting Out of Debt Requires a Content Heart, a
Cautious Spirit, and a Correct View of Money.
2. A
CAUTIOUS SPIRIT (vs. 9)
“But
those who want to be rich fall into temptation, a trap and many foolish and
harmful desires, which plunge people into ruin and destruction.”
Now, we are going to talk about the rich next week-
stay tuned. But, I am convinced that we are the rich. If you don’t believe me,
wait till next week.
It is weird how we can think about spending money.
Some people spend a bunch of money they don’t have and then talk about how they
“saved” so much money. They went further in debt for things they did not have
to have to live and they “saved” money! This is crazy.
Snare= The allurement to evil by which the Devil
ensnares one; seduction to evil. An example of the word is…a snare for birds in
which people would put grain out for the birds and put a wire or hair braid
type snare and use it to snatch the bird as it was drawn to the grain.
What are some of the snares
of traps that we fall into when it comes to debt and the Lord’s money?
A. PRESUMING ON THE FUTURE
Proverbs 27:1 “Don’t boast about tomorrow, for you don’t
know what a day might bring.”
People were encouraged to make
loans that they could afford now, often because they were interest only, and
then assume values would keep going up. Some bought homes with no money down.
This was crazy. We are ALL paying for this now!
B. SPENDING ON WANTS BEFORE NEEDS
(instant gratification)
Proverbs 21:17 “The one who loves pleasure will become a
poor man; whoever loves wine and oil will not get rich.”
Many of our needs are really our
wants.
C. POOR PLANNING
Proverbs 21:5 “The plans of the diligent certainly lead to
profit, but anyone who is reckless only becomes poor.”
D. LIVING BEYOND YOUR MEANS
Ecclesiastes 5:11 “When good things increase, the ones who
consume them multiply; what, then, is the profit to the owner, except to gaze
at them with his eyes?”
E. NEVER HAVING ENOUGH
Proverbs 11:28 “Anyone trusting in his riches will fall,
but the righteous will flourish like foliage.”
Getting Out of Debt Requires a
Content Heart, a Cautious Spirit, and a Correct View of Money.
3. CORRECT VIEW OF MONEY (vs. 10)
“For
the love of money is a root of all kinds of evil, and by craving it, some have
wandered away from the faith and pierced themselves with many pains.”
Ecclesiastes
5:10 “The one who loves money is never satisfied with money, and whoever loves
wealth is never satisfied with income.”
Proverbs
11:28 “Anyone trusting in his riches will fall, but the righteous will flourish
like foliage.”
So what do you do?
Debt is always a serious thing and you should treat
it with thought, planning and prayer.
A. PUT GOD FIRST
Matthew 6:33 “But seek first the
This goes back to God’s
ownership from last week.
Some debt questions:
Am I presuming on God by buying
this today?
Would God be honored and I learn
patience if I saved up for this? Do I need this or do I just “want” it!
B. ANALYZE YOUR SITUATION
Proverbs 27:23 “Know well the condition of your flock, and
pay attention to your herds.”
C. STOP BORROWING- LIVE ON LESS THAN
YOU MAKE!
Proverbs 22:7 “The rich rule over the poor, and the
borrower is a slave to the lender.”
DECIDE- IF I CAN’T PAY FOR IT
YET, I CAN’T AFFORD IT YET.
For us, we don’t buy a TV,
furniture or other household items with debt. For an auto we have limited debt
if needed and we always have a quick and manageable payback plan. If you can’t
manage a few credit cards for monthly expenses and pay off everything at the
end of the month then you should bake the cards in the oven at 350 degrees!
Most if not all financial experts have determined that buying a house with a
mortgage is OK, but quicker payback of that is always better.
D. MAKE A PAYBACK PLAN
Psalms 37:21 “The wicked borrows and does not repay, but
the righteous is gracious and giving.”
a. LITTLE
BY LITTLE
b. DOUBLE
PAYMENTS
c. SELL OFF
IF YOU NEED TO
d. PAY
HIGHER INTEREST FIRST
E. GET BACK UNDER THE LORDSHIP OF
CHRIST
1 Timothy 6:12 “Fight the good fight of faith, lay hold on
eternal life cry out to God.
Let Him know you need Him and
His control of your mind, your heart, and your will. Confess to Him that other
“things” have drawn you away…you were enslaved.
Conclusion:
Matthew 6:25-34
25“This is why I tell you: Don’t
worry about your life, what you will eat or what you will drink; or about your
body, what you will wear. Isn’t life
more than food and the body more than clothing? 26 Look at the birds
of the sky: they don’t sow or reap or gather into barns, yet your heavenly
Father feeds them. Aren’t you worth more than they? 27 Can any of
you add a single cubit to his height by worrying? 28 And why do you
worry about clothes? Learn how the wildflowers of the field grow: they don’t
labor or spin thread. 29 Yet I tell you that not even Solomon in all
his splendor was adorned like one of these! 30 If that’s how God
clothes the grass of the field, which is here today and thrown into the furnace
tomorrow, won’t He do much more for you- you of little faith? 31 So
don’t worry, saying ‘What will we eat?’ or ‘What will we drink?’ or ‘What will
we wear?’ 32 For the idolaters eagerly seek all these things, and
your heavenly Father knows that you need them. 33 But seek first the
Ultimately, DEBT IS A SPIRITUAL ISSUE. It is a
spiritual problem that manifests itself with physical problems.
If debt is a problem for you I am asking you to let
the Lord begin doing a work in you today. Begin today to obey God. You must
“Get Free” in your inner man (contentment) before you can develop a get out of
debt plan and follow it.
Jesus has a calling on our lives- our church. He
died to set us free from sin, guilt, and bondage to earthly things. Will you
trust Him, will you receive Him today? If you would like to become a part of
the Green Ridge Family, come now as we sing.