For the Love of Money - 1

On the surface it sounded like a healthy company was rewarding its best and brightest employees. Over 400 employees received bonuses. Three-fourths of them received more than $100,000. Fifty-one received between $1-2 million. Fifteen received more than $2 million. Six received $4 million. The highest bonus stood at $6.4 million (a total of $165 million in bonuses that year).

Though it seemed like a good thing, these bonuses were handed out by the executives, to the executives, at AIG in 2009—a company that was on the verge of collapse. This is a company that, in the previous quarter before handing out these bonuses, had lost $62 billion. In response to these bonuses, President Obama said it made him "angry." Comedian Stephen Colbert said he wanted to lead a pitchfork-wielding mob after the execs. Senator Chuck Grassley (R-IA) said the executives should fall on their swords. Representative Paul Hodes (D-NH) says the company's initials now stand for "arrogance, incompetence, and greed."

TS - somehow we intuitively understand that there are good ways to handle money and there are bad ways to handle money. Thankfully, the Bible helps us here. God guides us well in the financial aspect of our lives by addressing both the good and bad ways to handle money.

—16 out of 38 parables are about money.

—1 out of every 10 verses in the Gospels is on money.

—The Bible devotes 500 verses to prayer, less than 500 on faith, but over 2000 on money and possessions.

TS - though we may not like it that money holds such a prominent place in our lives, it simply does. Therefore we need to know how God says to handle it. So today and next week we are going to give the basic teachings in the Bible regarding money. It will help those who are in a good place financially by ensuring we are in line with God’s will for our finances. This basic teaching will also help those who are not in the best place financially (no matter the reason) because we will establish a clear plan for how to honor God with the finances he has blessed us with.

- 10 For the love of money is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows.

For our purposes today we are going to look at a famous story in the Bible, but through a financial lens. In it we will see an example of someone who lived out the unfortunate reality of . It is the story of a kid who wrecked his life spiritually and financially. We will see the steps he took to get into that mess, as well as the steps he took to get out of it. Both are very relevant to our financial lives today.

- 11 To illustrate the point further, Jesus told them this story: “A man had two sons. 12 The younger son told his father, ‘I want my share of your estate now before you die.’ So his father agreed to divide his wealth between his sons.

13 “A few days later this younger son packed all his belongings and moved to a distant land, and there he wasted all his money in wild living. 14 About the time his money ran out, a great famine swept over the land, and he began to starve. 15 He persuaded a local farmer to hire him, and the man sent him into his fields to feed the pigs. 16 The young man became so hungry that even the pods he was feeding the pigs looked good to him. But no one gave him anything.

17 “When he finally came to his senses, he said to himself, ‘At home even the hired servants have food enough to spare, and here I am dying of hunger! 18 I will go home to my father and say, “Father, I have sinned against both heaven and you, 19 and I am no longer worthy of being called your son. Please take me on as a hired servant.”’

20 “So he returned home to his father. And while he was still a long way off, his father saw him coming. Filled with love and compassion, he ran to his son, embraced him, and kissed him. 21 His son said to him, ‘Father, I have sinned against both heaven and you, and I am no longer worthy of being called your son.’

22 “But his father said to the servants, ‘Quick! Bring the finest robe in the house and put it on him. Get a ring for his finger and sandals for his feet. 23 And kill the calf we have been fattening. We must celebrate with a feast, 24 for this son of mine was dead and has now returned to life. He was lost, but now he is found.’ So the party began.

5 Deadly Actions that will wreck you financially:

OVERESTIMATE THE IMPORTANCE OF WEALTH

For whatever reasons this kid was obviously unhappy with his life. Apparently his reasoning was that if he could just get his hands on some cash he would be much better off—we know that because that is exactly what he did.

He was consumed by the Myth of More. Now, there is nothing wrong with owning stuff…we have to own stuff. The problem is when you let the stuff own you, when your life is defined by and dominated by stuff. Don’t believe the Myth of More that whispers more is what we need.

ILL - According to a recent study done by Money Matters, across all income levels, the desire for the vast majority of people is to get 10% more. Doesn’t sound too greedy. But here’s the problem…once those people get that 10% more over a few years of raises…they still want 10% more!

The basic idea here is the belief that the more I get, the more friends I’ll have, the more secure I’ll feel. But the truth is that the more you have, the more you have to insure, polish, protect, and worry about.

—In 1950 the average home size was 983 square feet.

—In 1960 it was 1100 square feet.

—In 2017 the average home size was 2,426 square feet (up 23% over just 20 years).

—At the same time, families occupying those homes have gotten smaller. In 1950 in those homes of 983 square feet, the average number of occupants was 3.37 people. Today, in those 2,426 square feet homes, the average number of occupants is 2.57. Meaning this…the average American home grew by 175% while the average family size shrunk by 24%.

—At the same time, another phenomenon has occurred. In 1960 the self-storage industry did not exist. Today there are over 52,000 self-storage facilities nationally, representing an industry of around $20 billion a year.

- 19 “Don’t store up treasures here on earth, where moths eat them and rust destroys them, and where thieves break in and steal.

ILL - The 2015 American Freshman Survey asked thousands of incoming college students about their goals and aspirations. The highest proportion (82%) checked “becoming very well off financially” as an “essential” life objective to their future.

Researcher Jonathan Haidt observes, "Wealth itself has only a small direct effect on happiness because it so effectively speeds up the hedonic treadmill … As the level of wealth has doubled or tripled in the last fifty years in many industrialized nations, the levels of happiness and satisfaction with life that people report have not changed, and depression has actually become more common.”

Overestimating the importance of wealth will cause you to make foolish decisions with disastrous consequences.

2. INSTANT GRATIFICATION

This is obviously one of this kid’s mistakes. “I want my estate now…I don’t want to wait until you die.” Such a dishonorable thing to do in their culture. He is basically telling his father that he’d rather have his dad’s money than his dad. In fact, the OT law allowed for this father to stone his son to death for such rebellion. The Father’s response of mercy shows his love for his son, but it also shows the desperation of this kid.

Someone once said, “Maturity is the ability to postpone pleasure.” Sadly, this kid shows his immaturity here. He doesn’t care who he hurts, he just wants to take the money and run.

In recent years our culture has redefined what is “normal” financially. It is now “normal” to live on credit. It is now normal to have an attitude that says, “If someone else has it, and I want it, I should get it.” Too many young adults in their 20’s and 30’s want to live at the same level as their parents…without realizing it took their parents 20-30 years of hard work to get to that level.

– “A thick bankroll is no help when life falls apart, but a principled life can stand up to the worst.” (Message)

Life is not about what you can get and how fast you can get it. My friend Jeff (preacher now at my home church) has a little sign in his office that reads, “God cares far more about making my life holy than he does about making my life happy.”

ILL - 41 percent of nearly 2,000 millennials—individuals born in the early 1980s through the early 2000s—surveyed admitted to spending more on their morning brew than contributing toward their retirement plan. The survey says that just five percent of young millennials (ages 18-23) are investing at all. But on the flip side, 39 percent feel anxious about their financial future. According to the report, the average American spends approximately $1,100 a year, or $3 each day, on coffee.

TS - That is about as short-sighted as we can be. Millennials aren’t the only ones who do this…as we will see in a minute. But sacrificing a stable future for overpriced coffee simply is not wise.

3. SELF-DESTRUCTIVE BEHAVIOR

This kid in takes the money and runs. He gets his passport stamped at the border of “distant country” and lives it up for awhile. And he blows it all. Big time. Later on in the story in , his older brother condemns him for “squandering his father’s money on prostitutes.” Seemingly in a short amount of time, the money is gone.

Friends, sin is costly. It is costly in a spiritual sense as it separates us from God, and it is also costly emotionally and physically. And there is also a financial price tag.

Think of the money wasted by those with addictions. I know people who got involved in a $100-200 a day drug habit. Americans spend over $70 billion a year on lotto tickets, which is more than spending on sports tickets/books/video games/movies/music combined. That discretionary spending is also far more than is given to churches.

- 20 Do not carouse with drunkards

or feast with gluttons,

21 for they are on their way to poverty,

and too much sleep clothes them in rags.

4. SPENDING MORE THAN YOU HAVE

Again, this is obviously what this kid did. He literally spent all he had. He wrote checks he could not cash and his life was foreclosed upon. Happens everyday. However, a generation or two ago, this did not happen. Most of us had grandparents who were quite frugal (stock market crashes will do that to you). They put discretionary funds in a cookie jar. When it was gone, they didn’t spend any more.

Our nation’s cumulative credit card debt now stands at $927 billion. Over 65% do not pay off their credit card balances each month, so the power of compound interest works against you.

The average credit card debt in American households is now $15,355. Just 15 years ago it was a little over $3,000. Personal debt has risen over 400% in less than two decades. 80% of college students have credit cards with an average balance of $3,000. And that doesn’t even count student loans so outrageous they will be around so long they will consider them a family pet. More people have declared bankruptcy in the last 4 years than have graduated college. We obviously need God’s guidance on our finances!

- 21 The wicked borrow and never repay,

but the godly are generous givers.

- 6 Yet true godliness with contentment is itself great wealth. 7 After all, we brought nothing with us when we came into the world, and we can’t take anything with us when we leave it. 8 So if we have enough food and clothing, let us be content. 9 But people who long to be rich fall into temptation and are trapped by many foolish and harmful desires that plunge them into ruin and destruction. 10 For the love of money is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows.

5. LIVING UNPREPARED FOR DIFFICULT TIMES

Notice what happens to this kid right after he spends all his money…a famine strikes. That’s called “life.” Newsweek magazine recently reported that for the first time in American history, the average person has a negative balance in their savings account.

- 12 A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.

- 20 The wise have wealth and luxury,

but fools spend whatever they get.

Dave Ramsey says that when you live like this you are just inviting Murphy (of Murphy’s Law) to move into your spare room, along with her two cousins, Desperate and Stupid. People seem to forget that ER visits, kids needing braces, taking care of aging parents, doctor visits, car repairs…they all happen and require money.

TS - So that is what got this kid into this mess. Those decisions wrecked him and will wreck anyone financially. However, this kid’s story is far from over. Here is how he got out of this mess:

ACKNOWLEDGE REALITY

- 17 “When he finally came to his senses, he said to himself, ‘At home even the hired servants have food enough to spare, and here I am dying of hunger! 18 I will go home to my father and say, “Father, I have sinned against both heaven and you, 19 and I am no longer worthy of being called your son. Please take me on as a hired servant.”’

“When he came to his senses…” He finally saw his life for what it was. His fantasy world came crashing down.

- 7 Just as the rich rule the poor,

so the borrower is servant to the lender.

Some people simply need to call their life for what it is—it is not normal, it is bondage. If you are struggling financially because of foolish decisions, you know better than anyone how much this hurts. You can’t enjoy Christmas, a night out, take a vacation. It erodes giving opportunities…you may feel inspired to give, but you can’t.

So if you are in this category, stop pretending and call this what it is…slavery. One executive who took a financial survey said this, “The only way to pay off debt is to face it head on and make a plan to get rid of it.” Amen to that! That is exactly what this kid did. He acknowledged reality, then…

2. DEVELOP A PLAN

Did you notice what this kid in said to himself…”I will go to my father and say…” - 5 Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty. That is so true! Let’s spend the next few minutes outlining a simple plan…now notice I said “simple” not “easy.” 10/10/80. Basically this—pay God, pay yourself, live on the rest.

—Pay God

- 9 Honor the Lord with your wealth

and with the best part of everything you produce.

This is where a healthy, God-honoring financial picture begins. With generous giving. While budgets, investments, debt reduction are all important…this comes first. Why? Because it declares that God comes first. If we don’t do this, God cannot, God does not intervene. He blesses generosity. Period.

—Pay Yourself

While this may sound a little odd because your name is on your paycheck. But think about who your money goes to. Not you! We must start saving better.

Only 2% of Americans reach retirement and are financially independent. Over 1/3 have nothing saved for retirement. Over half have less than $5,000. Meaning some people are working 40-50-60-70 hours a week for 50 years and are saving less than $100 per year for themselves.

Be encourage by what the Bible says…”Those who work deserve their pay.” The Bible tells us to remember the ant who stores away. It takes discipline, but the payoff is worth it. This is the second 10%. First 10% goes to God, next 10% goes to self.

—Live on the Rest

This is where most Americans cave. They like the idea of a plan but eventually pressure sets in and they pull that spending trigger. So they stop paying God, they stop paying themselves, and get into bondage again.

- 11 Not that I was ever in need, for I have learned how to be content with whatever I have. 12 I know how to live on almost nothing or with everything. I have learned the secret of living in every situation, whether it is with a full stomach or empty, with plenty or little. 13 For I can do everything through Christ, who gives me strength.

In our nation, we average an economic hiccup about every ten years. The last one was a big one in 2008. We are due for another one soon…that bubble always pops. So imagine for a minute what your life could be like if you followed this plan…giving 10% to God, saving 10% and living off of 80% of your income. After 10 years, around the time of another economic hiccup, you have not only been generous and honored God, you have a full year’s salary (plus interest) in the bank. Imagine how you’d feel if you started this in 2008!

Conclusion

Let’s remind ourselves of something…greed is not the motivation to follow God’s counsel about money. Obedience is the motivation. Wisdom is the motivation. As we are learning in such a prosperous nation, this is just a better way to live. God knows what he is talking about.

This kid in made some mistakes. But he also made some great decisions to fix those mistakes. He made a plan and accomplished that plan. It didn’t happen overnight, but it did happen. From that distant country he set out it not he unknown to come home to the Father, not knowing how it would all work out. But do you know what he found there? The favor of the Father. You can too.

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