Biblical Finance: Get Out Of Debt
F5 Sermon Series (Finance, Family, Fitness, Faith, Forgiveness) • Sermon • Submitted
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Introduction
Introduction
Debt compromises income stream.
One of the things I've come to realize is that:
God’s way of handling money is countercultural
That simply means that rather than running parallel to what everyone else says, believes, and do, it runs perpendicular.
The sooner you can get out of it, the better.
The problem we have is that we have followed after the masses, rather than following after the master
Every cent you owe to a lender, plus interest, handicaps both your ability to survive nowand your ability to save for the future.
For as the Apostle Peter told the Sanhedrin Council
“We must obey God rather than men.”
The Bible presents this truth to us clearly.
Which is why for the next several weeks we will focus our attention on
5 aspects of Biblical Finance
They are:
Get Out of Debt
"She came and told the man of God, and he said, 'Go, sell the oil and pay your debts, and you and your sons can live on the rest.’"
Get Right - Act Your Wage
Get On A Plan
"One who lacks sense gives a pledge and puts up security in the presence of his neighbor."
Get More - Save, Invest, Legacy
"The rich rules over the poor, and the borrower is the slave of the lender."
Get Ready to Give
Getting Out Of Debt
Getting Out Of Debt
Did you know that debt literally, not figuratively means bondage
"Be not one of those who give pledges, who put up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?"
self-induced (inflicted) bondage
There were also those who said, 'We are mortgaging our fields, our vineyards, and our houses to get grain because of the famine.’ And there were those who said, “We have borrowed money for the king's tax on our fields and our vineyards. Now our flesh is as the flesh of our brothers, our children are as their children. Yet we are forcing our sons and our daughters to be slaves, and some of our daughters have already been enslaved, but it is not in our power to help it, for other men have our fields and our vineyards.”
It is a new form of slavery
instead of us being shackled by metal chains
“No one can serve two masters, for 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 God and money."
we’ve now settled for plastic ones
Illustration:
"Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. For the commandments, 'You shall not commit adultery, You shall not murder, You shall not steal, You shall not covet,' and any other commandment, are summed up in this word: 'You shall love your neighbor as yourself.' Love does no wrong to a neighbor; therefore love is the fulfilling of the law."
Its like we walked down Gun Club Rd with our own handcuffs
opened the prison doors
2. Debt prevents rest
2. Debt prevents rest
The Sabbath is a very important concept to God.
put our own-selves in there
locked the door
He instituted it for himself when he created the world.
and said I belong here
And he institutes it for humans who work.
Illustration:
Its like we walked down Gun Club Rd with our own handcuffs
opened the prison doors
put our own-selves in there
Debt removes our ability to rest.
locked the door
and said I belong here
Proverbs 22:7
The rich rules over the poor,
and the borrower is the slave of the lender.
When we are in debt, we are forced to work extra hours, take a second job or side hustle, and spend more emotional energy on getting out of debt.
one who is owned by another
There were also those who said, “We are mortgaging our fields, our vineyards, and our houses to get grain because of the famine.” And there were those who said, “We have borrowed money for the king’s tax on our fields and our vineyards. Now our flesh is as the flesh of our brothers, our children are as their children. Yet we are forcing our sons and our daughters to be slaves, and some of our daughters have already been enslaved, but it is not in our power to help it, for other men have our fields and our vineyards.”
Slave (ebed) -one who is owned by another
This makes it harder for Christians to rest at all.
24 “No one can serve two masters, for 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 God and money.
The Expositor’s Greek Testament, Volume I (Matthew–John): Commentary Chapter 6: The Sermon Continued
In the natural sphere it is impossible for a slave to serve two masters, for each claims him as his property, and the slave must respond to one or other of the claims with entire devotion
The Expositor’s Greek Testament, Volume I (Matthew–John): Commentary Chapter 6: The Sermon Continued
In the natural sphere it is impossible for a slave to serve two masters, for each claims him as his property, and the slave must respond to one or other of the claims with entire devotion, either from love or from interest
The Expositor’s Greek Testament, Volume I (Matthew–John): Commentary Chapter 6: The Sermon Continued
The meaning is not, “ye cannot serve God and have riches,” but “ye cannot be faithful to God and make an idol of wealth”
Without debt, rest comes a little easier.
Loving one god, you’ll end up hating the other. Adoration of one feeds contempt for the other. You can’t worship God and Money both.
Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.
Sabbath becomes much easier to practice with a clear mind and heart.
Don’t run up debts, except for the huge debt of love
What is Debt?
What is Debt?
“At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed."
Debilitative
Divisive
"Take care lest there be an unworthy thought in your heart and you say, ‘The seventh year, the year of release is near,’ and your eye look grudgingly on your poor brother, and you give him nothing, and he cry to the Lord against you, and you be guilty of sin."
Deceptive
Debilitative
Debilitative
Because debt threatens our ability to develop meaningful wealth, debt debilitates (hinders, impairs, and weakens) our opportunity for financial stability
Meaningful
Just because you got a $20k credit card limit, doesn’t make you wealthy
driving a Jaguar with a $700 car note doesn’t make you wealthy
Living in a 5 bedroom house with a $2,500 mortgage doesn’t make you wealthy
That’s why the bible says in
The prudent sees danger and hides himself,
but the simple go on and suffer for it.
We suffer in anxiety, depression, sleeplessness because of debt
Why?
We suffer for it because debt borrows against our older selves
We buy things we often don’t need in the here and now only to suffer for it in the future
We suffer for it because debt borrows against our older selves to buy things we often don’t need in the here and now
A self-inflicted set up for failure
What we oftentimes fail to realize is that:
that $1 plus interest you owe a to a lender, just handicapped your ability to survive now and your ability to save for the future.
Divisive
Divisive
The Notorious B.I.G. along with Mase & Puff Daddy said in "Mo Money Mo Problems" single
"Trust in the Lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths."
Be not one of those who give pledges,
who put up security for debts.
If you have nothing with which to pay,
why should your bed be taken from under you?
I don't know what they want from me
It's like the more money we come across
The more problems we see
Well, the opposite is also true
"When you vow a vow to God, do not delay paying it, for he has no pleasure in fools. Pay what you vow."
the more debt we come across
3. Debt is a procrastinator's way of spending money
3. Debt is a procrastinator's way of spending money
the more dilemmas we see
Procrastinators always borrow against their future selves for immediate gratification.
Research suggest that one of the leading bridges between “I do” and “we’re done” is money
This is how debt works.
Why?
The book of Proverbs calls this foolishness.
because both high levels of debt and a lack of communication are major causes for the stress and anxiety surrounding household finances.
And it is a mindset that will ultimately bring destruction.
According to Ramsey Solutions, Nearly two-thirds of all marriages start off in debt. Forty-three percent of couples married more than 25 years started off in debt, while 86 percent of couples married five years or less started off in the red — twice the number of their older counterparts.
Deceptive
Deceptive
"A little sleep, a little slumber,
Debt leads you to believe you are someone you really are not
a little folding of the hands to rest—
Leads you to believe you are free when you’re actually bond
and poverty will come on you like a thief
Leads you to believe you are sufficient when in actuality you are deficit
and scarcity like an armed man."
and leads you to believe that you got is going on, when in actuality it is all going out
out into someone else’s pocket
"The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty."
Give the appearance of being rich, but still thinking poor
Debt is like quicksand
"Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it."
It appears useful, but once you step into it, it’s nearly impossible to get out of
How to Get Out of Debt?
How to Get Out of Debt?
“One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much."
There are four things we must do
4. Debt is a metaphor for sin
4. Debt is a metaphor for sin
First, we must ADMIT
God uses debts and pledges as metaphors for sin.
We must admit we have a problem
In particular, he uses the metaphor of the cloak as a pledge as an explicit disobedience to his commands.
Listen any therapist, psychologist, sponsor, counselor or life coach will tell you that the first step to getting out of your present condition is the acknowledgement of it
It is wrong to use your cloak as a pledge because it was your basic means of surviving in the world, and it compromised your human dignity. Yet today, people are willing to take out second mortgages, which is essentially a compromise of their right to shelter, for a new kitchen counter.
You can’t get out if you don’t know that your in
God sees debt as a problem that needs to be fixed, not as an opportunity to be taken advantage of.
Sometimes our greatest self disservice is the dis-ease known as denial
Much like the choice to sin, the choice to go into debt plays a short game at the expense of the long game.
It is the worst kind of lie because it is the lie we tell ourselves
Oftentimes when Jesus would encounter individuals who were sick or lame, He would often ask them the question,
"They lay themselves down beside every altar on garments taken in pledge, and in the house of their God they drink the wine of those who have been fined."
Do you wanna get well?
He wasn’t insulting them or being insensitive.
"And forgive us our debts, as we also have forgiven our debtors."
He was simply acknowledging that the process of healing begins with the individual admitting to the reality of their condition
Secondly, we must ACCEPT
What are we accepting?
We must accept our truth
Accept the fact that your last name is Davis and not the Joneses
“A certain moneylender had two debtors. One owed five hundred denarii, and the other fifty. When they could not pay, he cancelled the debt of both. Now which of them will love him more?” Simon answered, “The one, I suppose, for whom he cancelled the larger debt.” And he said to him, “You have judged rightly.” Then turning toward the woman he said to Simon, “Do you see this woman? I entered your house; you gave me no water for my feet, but she has wet my feet with her tears and wiped them with her hair. You gave me no kiss, but from the time I came in she has not ceased to kiss my feet.”
The bible says the truth make us free
We are bond by debt because we are trying to live a fabricated, falsified life
You driving a mercedes, when you should be driving a honda
And if its a honda you should be driving, drive it proudly
You see, what we fail to realize is that
Rich people stay rich because they live like they are broke, but broke people stay broke because they live like they are rich
Accept your truth
Acceptance leads to performance
Now that I accepted it, although I have champagne taste, I operate faithfully within my beer budget
Which if performed correctly will eventually position you to curb that champagne taste
which leads me to my next point
Secondly, we must ADJUST
Any sailor will tell you that if you can’t change the direction of the wind, then adjust the sails
In order for us to get out of debt, we must:
Adjust our habits
If something is too loud, what do you do?
"For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord."
You adjust the volume with the control
Well, I believe if we are going to be successful in coming out of debt, we have to make the necessary adjustments with our control
"By canceling the record of debt that stood against us with its legal demands. This he set aside, nailing it to the cross."
Its called Self-control
5. Debt compromises your ability to provide
5. Debt compromises your ability to provide
regulating oneself
You have responsibilities in this life.
The one who lacks self-control, opens the door for others to control him.
Family. Church. Rent.
28 A man without self-control
is like a city broken into and left without walls.
Many of us are controlled and don’t even know it
Every cent you owe in debt, plus interest, decreases your ability to secure these provisions.
We are controlled by trying to keep up with the Joneses without even realizing they are broke
The older you get, the more you are responsible to provide.
WE MUST LEARN TO SAY NO!!!
Yet, debt borrows against our older selves to buy things we often don’t need in the here and now.
This sets us up for failure in life.
What are we accepting?
We must accept our truth
"The wicked borrows but does not pay back, but the righteous is generous and gives."
Accept the fact that your last name is Davis and not the Joneses
The bible says the truth make us free
"A good man leaves an inheritance to his children's children, but the sinner's wealth is laid up for the righteous.”
We are bond by debt because we are trying to live a fabricated, falsified life
You driving a mercedes, when you should be driving a honda
"The prudent sees danger and hides himself, but the simple go on and suffer for it."
And if its a honda you should be driving, drive it proudly
You see, what we fail to realize is that
"Whoever multiplies his wealth by interest and profit gathers it for him who is generous to the poor."
Rich people stay rich because they live like they are broke, but broke people stay broke because they live like they are rich
Accept your truth
Acceptance leads to performance
"Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed."
Now that I accepted it, although I have champagne taste, I operate faithfully within my beer budget
Which if performed correctly will eventually position you to curb that champagne taste
which leads me to my last point
Lastly, we must ANTICIPATE
We must Anticipate coming out
"But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.”
I believe that when we:
6. Debt compromises your ability to be generous
6. Debt compromises your ability to be generous
Admit our problem
According to Bible verses about money, God calls us to be generous.
Accept our truth
and Adjust our habits
But after we have spent our money on the essentials, provided for those under our care, paid our taxes, and saved for the future, how could we possibly be generous?
we can Anticipate coming out of bondage (debt)
The sooner you are able to get out of debt, the sooner you are free to give.
we can Anticipate coming out of bondage (debt)
It will be more satisfying to give grandchildren something essential in 30 years than it will be to give ourselves something non-essential now.
This is exactly what happened with the widow woman who cried out to Elisha in 2 Kings
She admit she had a problem
"Honor the Lord with your wealth and with the firstfruits of all your produce."
Her husband is dead and creditors was coming after her to take away her two sons as slaves
She accepted her truth
"Do not withhold good from those to whom it is due, when it is in your power to do it."
When ask by Elisha, what shall he do and what does she have in the house, her accepted her truth that she had nothing but a jar of oil
She then adjust her habits
"Bring the full tithe into the storehouse, that there may be food in my house. And thereby put me to the test, says the Lord of hosts, if I will not open the windows of heaven for you and pour down for you a blessing until there is no more need."
The prophet told her to go get vessels from everywhere and poured the oil into them
This is not something she had done before
"Give to the one who begs from you, and do not refuse the one who would borrow from you."
and as a result, what she had became the source of her breakthrough
"On the first day of every week, each of you is to put something aside and store it up, as he may prosper, so that there will be no collecting when I come.”
"But if anyone has the world's goods and sees his brother in need, yet closes his heart against him, how does God's love abide in him?"
7. God forbids credit card companies in Israel
7. God forbids credit card companies in Israel
God does permit money lending.
But what we know today as the modern practices of credit card companies were ethically forbidden by God.
All throughout the Pentateuch, God gives explicit commands to people about the lending and the Sabbath which makes one point very clear:
You are not allowed to take peoples’ basic needs because of their debt.
Income is all that one has in America.
It is similar to the ancient “cloak.”
In the Ancient Near East, the "cloak" was a person's basic resource for shelter from the elements.
The cloak was the most fundamental way of guarding against death through exposure.
This is why God warns borrowers from using their cloaks as collateral ini a loan.
This is also why God tells lenders that it is unethical to keep a borrower's cloak from them, even if they haven't paid off their debts.
Monthly income is the modern day "cloak" from homelessness.
Yet, credit companies regularly lay claim to it.
“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him. If ever you take your neighbor's cloak in pledge, you shall return it to him before the sun goes down, for that is his only covering, and it is his cloak for his body; in what else shall he sleep? And if he cries to me, I will hear, for I am compassionate."
“If your brother becomes poor and cannot maintain himself with you, you shall support him as though he were a stranger and a sojourner, and he shall live with you. Take no interest from him or profit, but fear your God, that your brother may live beside you. You shall not lend him your money at interest, nor give him your food for profit."
"And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed."
"For the Lord your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow, and you shall rule over many nations, but they shall not rule over you."
"You may charge a foreigner interest, but you may not charge your brother interest, that the Lord your God may bless you in all that you undertake in the land that you are entering to take possession of it."
,
“O Lord, who shall sojourn in your tent?
who shall dwell on your holy hill?
He who walks blamelessly and does what is right
and speaks truth in his heart …
Who does not put his money out at interest
and does not bribe against the innocent.”
"It is well with the man who deals generously and lends; who conducts his affairs with justice."
"Take a man's garment when he has put up security for a stranger, and hold it in pledge when he puts up security for an adulteress."
8. Debt conflicts with a hard working mindset
8. Debt conflicts with a hard working mindset
Debt is more than a number.
It is a way of thinking.
People who work hard don’t want to go into debt.
There’s a famous scene in the movie Cinderella Man where Russel Crowe’s character needs to receive welfare. Later in his life, after becoming a successful boxer, he returns to the welfare office and hands them back his welfare money. The officer says: “Sir, you don’t need to pay this back.” And he says: “I do.”
It’s not a sin to borrow money.
But the mindset that values hard work seeks as often as possible not to take out debt.
This is what the Scriptures about work let us know.
“If a man borrows anything of his neighbor, and it is injured or dies, the owner not being with it, he shall make full restitution."
"Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest."
"A slack hand causes poverty, but the hand of the diligent makes rich."
"Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure."
"Wealth gained hastily will dwindle, but whoever gathers little by little will increase it."
"In all toil there is profit, but mere talk tends only to poverty."
"A good name is to be chosen rather than great riches, and favor is better than silver or gold."
"If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?"
"Whatever you do, work heartily, as for the Lord and not for men.”
"As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life."