Rom 13-Owe Nothing to Anyone-2
| Owe Nothing to Anyone Part 2 – Financial Freedom! Romans 13:8a
July 20, 2008(NLT) Owe nothing to anyone—except for your obligation to love one another. (NIV) Let no debt remain outstanding, except the continuing debt to love one another. (ESV) Owe no one anything, except to love each other.(The Message) Don’t run up debts, except for the huge debt of love you owe each other. PRAY Scripture Memory: Owe nothing to anyone—except for your obligation to love one another. If you love your neighbor, you will fulfill the requirements of God’s law. – Romans 13:8(NLT) Intro:A 2 part series on money management…Last week: (The Money Trap)1. The Problem of Debt2. The Issue of our Spiritual Debt This week: (Financial Freedom)3. Practical Steps to Getting (and staying) out of Debt4. Practical Benefits to Being (and staying) out of DebtReview:1. The Problem of DebtOur country is struggling with debt in epidemic proportions. Our commitment to keep up with the Jones’ and our willingness to ignore the issue of repayment in order to fulfill a present craving has led many of us to the brink of financial ruin.& even those of us who are not on the brink of financial ruin are constantly bombarded with the temptations to spend more than we are earning. We are constantly being told, both directly & indirectly that we NEED to have MORE.A very unsettling aspect of credit card transactions is that many Americans don’t see their income as a spending cap. Almost half of U.S. families spend more than they earn, according to a Federal Reserve study. And on average, Americans spend $1.22 for every dollar they earn.More than 1 million homeowners now have three or more mortgages on their property. Over 1.8 million owners have outstanding loans that equal 100% or more the value of their homes.“The problem for many Americans, including our government, is that debt financing has become a way of life, and those who borrow are frequently enticed, misled, or trapped into borrowing more than they are able to repay. Then they default on their payments and often escape the weight of their financial obligations by declaring personal bankruptcy. Bankruptcy means cheating the person or company that has lent the money, and it an unjust and impermissible course of action for a Christian.” 40% borrow more than they can make monthly payments on. The average American family is always only 3 weeks away from bankruptcy. We have more resources at our disposable than any people in history but somehow financial matters are a source of constant difficulty and stress.The point is not that Christians should never borrow, but that they should never leave their debts unpaid. Our text, this morning, is a condemnation of the practice of some who are ever ready to borrow but very slow to repay. It also expresses the debt we owe to our fellowmen. Debt is a symptom, not the root problem. Materialism is the root problem. (1 Tim. 6:9-10, Luke 12:15) Materialism is seeking happiness through the accumulation of material things.All too often we spend money we don’t have, to buy things we don’t need to seek satisfaction we won’t find. 2. The Issue of our Spiritual DebtThe real problem is a spiritual one. We need to remember the REAL debt we have accrued, which cost our Lord His life. We need to remember and believe the promises of God that He will provide for all of our needs and commit ourselves to be content with how HE defines that.Before we can even BEGIN to address this week’s topics of how to get out of debt and the benefits of being out of debt, we need to address the deeper issues of contentment and trust, of idolatry and stewardship.Money (and debt) are first & foremost spiritual issues.Those who want freedom from consumer debt must replace materialism with Godly contentment. Mat 6:24 (NLT) “No one can serve two masters. For you will hate one and love the other; you will be devoted to one and despise the other. You cannot serve both God and money.Eccl. 5:10 (NIV) – Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless. The first, and most important step in dealing with The Money Trap is to repent.☞ We need to repent of our idolatry.An idol is anything we add to God as a condition of happiness or contentment. ☞ We need to repent of our poor stewardship.All that we have is on loan to us. It belongs to God and we will, one day, have to give an account to Him for how we have invested it. ☞ We need to remember of our unbelief.God loves us so much that He paid our debt of sin Himself by sending His Son, Jesus, to die on the cross in our place. When He died, He shouted, "It is finished," literally, "it has been paid."And this same Jesus arose from the dead, later ascending into heaven.He paid our debt, but we have to receive that payment. We have to believe the gospel.3. Practical Steps to Getting (& staying) out of DebtTo get money is difficult, to keep it more difficult, but to spend it wisely most difficult of all. source unknownJesus talked a great deal about money and the problems it causes man—in fact, one-fifth of all Jesus had to say was about money. Billy Graham Money is emphasized in Scripture simply because our temptation to love it is inexplicably powerful. Erwin W. Lutzer How can I avoid debt and save as much as possible so that I will have money for the really important things, unforeseen emergencies, and retirement – while enjoying a reasonable number of the pleasures of life along the way?Or, for many of us, How can I get rid of this huge load of debt that I already have???"How do you eat an elephant?" One bite at a time.
Dr. James Boice’s Five Practical steps to gaining control of your money:1. Recognize that you have a spiritual problem.“Instead of being spiritual, you have become secular in your thinking. You have listened to the siren song of the secular culture surrounding you, and you have adopted a consumptive lifestyle on the world’s recommendation and urging.” Boice Those who want freedom from consumer debt must replace materialism with Godly contentment. As long as we seek our happiness in anything other than God, our debt will only increase.2. Stop Buying on Time.A little girl had saved up enough money to buy her father a present for Father’s Day but was concerned about one thing. “I can’t be going downtown every month to make payments,” she said to her mother. “Is there a store where they’ll let you pay the whole thing at once?” Bill Gold in Washington PostWe learned this lesson as kids. Popeye the Sailor had a friend named Wimpy. He was a rather ordinary gentleman with a rather unusual obsession. Day and night his thoughts were consumed with consuming hamburgers. That obsession let him to seek ways to consume more than he produced such that his catch phrase became, “I will gladly pay you Tuesday for a hamburger today”. He was willing to do into debt for a hamburger, to pay tomorrow for what is gone today.Only buy, on time, that which appreciates in value, and even then, beware getting in over your head…If you buy, for example a $10,000 car, using a 10% loan over, say, 5 years… you would end up paying almost $3200 in interest!If you were able to get a 5% loan, you would still pay over $1300 in interest.We need to develop and nurture a "save first and then buy" mentality.Think about what that would look like if you were able to discipline yourself to RECEIVE interest while saving up for that car, and then save a couple thousand when you buy it!!!The other problem, here, is Credit cards. | | Someone once estimated that using credit cards will cause a family to spend 34% more than they would if they were to pay for everything they purchased with cash."… The fact is, nearly 75 percent of Americans who use credit cards make only the minimum payment each month. At that rate (minimum payments) you could spend the next thirty years paying back a $3,000 credit card debt and give the financial institution $8,000 worth of interest. It’s the principle of compound interest in reverse." 3. Reduce your expenditures to below your current income. “Spend less than you earn and do it for a long time, and you will be financially successful.” Ron Blue Live within your means! – for many of us this means CUTTING up our credit cards, canceling our credit lines and closing our overdraft accounts.Consider using a budget…. And STICKING TO IT!!! – if you cannot do this, perhaps it is time seek help from a professional counselor about where cuts in your spending can be made. – Note: If anyone feels like they could use some financial counseling, we do have resources in our church that can help you… 4. Sell assets to reduce your current debt.Sometimes this can be a good litmus test of how attached we are to our possessions…Other times, we could easily part with some things, we just need to make it happen.5. Pay something on each debt each month.Concentrate on eliminating the debts with the highest interest first, then the smallest debts.You might want to consider consolidating your debts into one loan at a significantly lower rate of interest. This can help you climb out of debt. The problem, however, is that many who take out these "restructuring loans" only go out and use more credit cards for more purchases - and they end up in worse shape than when they got the new loan.Then apply what you WERE paying for them to the larger debts.Then, as much as possible, continue paying into a savings account until you have at least one month’s salary as a buffer towards unexpected needs (or, even better, six months salary)Pre-commit any unexpected income to your debt repayment. – This will often be both God’s provision and His test to see if you are really serious about honoring Him in your finances.NOTE: for the follower of Jesus Christ, bankruptcy is not a viable option.Psalm 37:21 (NCV) – The wicked borrow and don’t pay back, but those who do right give freely to others. Some other practical suggestions:☞ Develop Habitual CONSERVATIONBe intentional and intelligent in your buying. Wait for sales / avoid being emotionally manipulated or making quick decisions – Learn to laugh at ads which tell you that you can SAVE money by buying what you do not really need!The problem for many people who get into debt is that they see something that pleases them and they HAVE to have it. They can’t wait. AND they won’t wait.CONSERVE on cars, houses, and eating out. ☞ Separate wants from NEEDS.When buying something for your family, you need to ask – do I NEED this, or do I merely WANT it? And whether you need or want something – "can I wait until I can afford it?"Stacy A. Johnson of First Baptist Church of San Jacinto CA Said:
“If I buy today what I do not need, I will most likely need tomorrow what I cannot buy” ☞ Consider reducing, or eliminating some of your monthly commitments, like cable, internet, cell phones, magazine subscriptions, etc. ☞ Be creative in finding extra sources of income Three lessons from the Prodigal Son:X He came to the point of really WANTING to change.In order to get rid of debt’s power over us, we 1st have to realize that our financial situation needs to be fixed. Our lifestyle has to change/ our way of looking at money has to be repaired.Up until this point in his life (even as he sat amongst the squalor of the pigs), the Prodigal son hadn’t changed his thinking about his lifestyle. If he’d lived in our day, he might have taken from his meager savings and bought lottery tickets. X He swallowed his pride.Luke 15:18-19 (NLT) – I will go home to my father and say, “Father, I have sinned against both heaven and you, and I am no longer worthy of being called your son. Please take me on as a hired servant.”That took a lot of courage. AND it took a lot of humility. Many people get into debt – and stay there – because they’re too proud to get help.1st the prodigal son took stock of his situation2nd he swallowed his pride and sought help… X The Prodigal Son returned to His father for His help.When the prodigal son ended up in the pigpen, he realized that there were things in life more important than money. I’m sure he wished he could go back and undo all the damage he’d done. Wasting his inheritance, ruining his relationship with his family, and eating with the pigs were high prices to pay for the momentary pleasures money had brought him. 3. Practical Benefits to Being (and staying) out of DebtProverbs 21:20 (NIV) "In the house of the wise are stores of choice food and oil, but a foolish man devours all he has."Some Benefits of Living Within Our MEANSX Personal Peace & FreedomØ More time and energy to pursue relationships and spiritual depthEcclesiastes 7:12 (NIV) – Wisdom is a shelter as money is a shelter, but the advantage of knowledge is this: that wisdom preserves the life of its possessor.Prov. 22:7 (NIV) The rich rules over the poor, and the borrower is the slave of the lender. Ø Overspending & over-working rob us of peaceEcclesiastes 5:10-15 (NIV) Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless. As goods increase, so do those who consume them. ? And what benefit are they to the owner except to feast his eyes on them? The sleep of a laborer is sweet, whether he eats little or much, but the abundance of a rich man permits him no sleep.I have seen a grievous evil under the sun: wealth hoarded to the harm of its owner, or wealth lost through some misfortune, so that when he has a son there is nothing left for him. Naked a man comes from his mother’s womb, and as he comes, so he departs. He takes nothing from his labor that he can carry in his hand.X Providing for FamilyØ I Timothy 5:8, "If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever."X The Joy of Sharing and Giving (Eph. 4:28, I Cor. 16:2) Summary / Review:The key to getting out of debt is twofold: Curtail your spending and Commit to regular, sacrificial payments on your debt.When we do this, and free ourselves from the burden of debt which comes from materialism and consumerism, we will experience a freedom to enjoy what God provides, with GREATLY reduced, or even eliminated anxiety about the future. A Truth to Remember: God provides His children with EVERYTHING they need to enjoy life. Our problem comes when we fall into the trap of believing that we NEED what God has not provided. A Challenge to Consider:What one thing can you do in the coming weeks to better honor God with what He has entrusted to you? One thing I heard this morning was… |