DEBT- With my mind on my money series

Debt… it is the American way, buy (get) now pay later

The spiritual condition that we are in can sometimes brings to a pace where we make bad decisions that put us in debt
Matt 6:19-21 notice Jesus says this is a heart condition and now in our society we are able to store up stuff and not have the money to back it up.

Lets look at some warning signs that check our hearts to see if we may be headed toward a debt situation.

1.Outstanding loans on depreciating items or living on credit
2.Unable to give or save Mal 3:8
3.Prone to extravagant spending and indulging in things
4.Looking for get rich quick schemes
5.Care what other people thing about your financial situation

What does the Bible say about debt?

Romans 13:8 is a passage many quote in support that a Christian should never borrow money. I don’t believe this passage is saying that, look at vrs 5-6 and explain.
The principle here is pay your debts and have a plan to do so.

Proverbs 22:7 You are servant to whoever you borrow from. This is telling us that when you get up in the morning and go to work you are doing so to pay off your debts. The problem with this type of lifestyle is that you should be a servant to the Lord not to the creditor or your stuff.

1 Timothy 6:10 When we get to greedy and want to much stuff it harms our spiritual lives and brings trouble to our lives.

What do you do if you have debt?

1. Commit to a plan to pay off your debt. Psalm 37:21 it is sin not to pay your debts.

a. Credit cards.
How call creditors and get rates changed
Set up a payment plan that is more the minimums not only are you wasting on paying the interest you are also not making that money work for you in investments

Credit cards are not evil hey just need to be used properly. We will talk about that next week.
b. Cars- this is where we have been so tempted and duped
c. School loans
d. Home. The last step to financial freedom is paying off your home

2.Free up extra money to get rid of this debt. Sacrifice, sometimes in life sacrifice is a consequence of bad decision.


How to stay out of Debt.

Make a plan Proverbs 27:23-24

What is our greatest debt that we can never pay? 1 Cor. 7:22-23