Title of Message: Destroying Debt 1. Getting My House In Order Part 8
Speaker: Tyrone Jones
Text: Multiple passages
Facts on Debt In America
1. Average household owes more than $16,000 on credit cards
2. Total student loan debt is over one $ trillion dollars.
3. Average family is over $132,000 in debt!
4. We finance car loans longer than what they are worth. Average car loan is 6 years or longer
5. 21% of Americans plan to die in debt!
Dangers/Results of DEBT
1. Debt enslaves you and take you hostage. You become a prisoner.
a. Proverbs 22:7 Just as the rich rule the poor, so the borrower is servant to the lender.
2. Destroys relationships; creates strife in marriages,
a. #1 reason for divorce
3. So easy to get into debt but difficult to get out of it.
a. Credit is so accessible. Credit card companies target the vulnerable.
b. Most Americans have at least one credit card before 21.
c. Average US consumer has at least 3 credit cards
d. Credit card companies making over $1300 off of us per year
4. It is easy to fall into the trap of debt and we don’t know how to manage it!
a. Proverbs 6:5 “Save yourself like a gazelle escaping from a hunter, like a bird fleeing from a net.
5. Debt hinders my ability to sow into the KINGDOM!
6. Excessive DEBT over long periods of time show that we are POOR STEWARDS!
a. Proverbs 27:23 Know the state of your flocks, and put your heart into caring for your herds
7. Excessive DEBT shows that we are IMPATIENT! We jump into debt instead of waiting for the Lord to provide for us.
a. Isaiah 40: 31 But they who wait for the Lord shall renew their strength; they shall mount up with wings like eagles; they shall run and not be weary; they shall walk and not faint.
b. Lamentations 3:25 The Lord is good to those who wait for him, to the soul who seeks him.
c. Psalms 37:9 For the evildoers shall be cut off, but those who wait for the Lord shall inherit the land.
8. DEBT shows that we lack CONTENTMENT!
a. I Timothy 6: 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.
There is a WAY OUT of Debt! (Not just hitting the powerball, lotto, etc!)
1. Be disciplined in how we use our finances.
a. It is helpful to also have an accountability partner if we struggle with being disciplined with our finances.
b. Saying NO to some stuff today so tomorrow will be better!
2. Change my thinking!
a. Romans 12:2 Don’t copy the behavior and customs of this world, but let God transform you into a new person by changing the way you think. Then you will learn to know God’s will for you, which is good and pleasing and perfect.
3. Borrow Biblically! Be Biblical
a. Don’t take out loans longer than 7 years!
Deuteronomy 15:1-6 (NLT) “At the end of every seventh year you must cancel the debts of everyone who owes you money. 2 This is how it must be done. Everyone must cancel the loans they have made to their fellow Israelites. They must not demand payment from their neighbors or relatives, for the Lord’s time of release has arrived. 3 This release from debt, however, applies only to your fellow Israelites—not to the foreigners living among you 4 “There should be no poor among you, for the Lord your God will greatly bless you in the land he is giving you as a special possession. 5 You will receive this blessing if you are careful to obey all the commands of the Lord your God that I am giving you today. 6 The Lord your God will bless you as he has promised. You will lend money to many nations but will never need to borrow. You will rule many nations, but they will not rule over you.
4. Be Generous!
a. Deuteronomy 15:10 10 Give generously to the poor, not grudgingly, for the Lord your God will bless you in everything you do.
b. Proverbs 22:9: Blessed are those who are generous, because they feed the poor.
c. Proverbs 11:24-25 There is one who scatters, and yet increases all the more, and there is one who withholds what is justly due and yet it results only in want. The generous man will be prosperous, and he who waters will himself be watered!
Bible Verses About Debt
Romans 13:8 Let no debt remain outstanding except the continuing debt to love on another..
Proverbs 22:7 The rich rules over the poor, and the borrower is the slave of the lender.
Psalm 37:21 The wicked borrows and does not repay, But the righteous shows mercy and gives.
Matthew 5:42 Give to him who asks you, and from him who wants to borrow from you do not turn away.
Luke 6:35 But love your enemies, do good, and lend, hoping for nothing in return; and your reward will be great, and you will be sons of the Most High.
Matthew 6:24 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.
Proverbs 22:26–27 Do not be one of those who shakes hands in a pledge, one of those who is surety for debts; if you have nothing with which to pay, why should he take away your bed from under you?