It is clear that our world is in bondage to debt. The average wage-earner cannot usually even begin life without incurring debts: college, medical bills, wedding, home mortgage, cars, daily expenses, home repairs, etc.  People never seem to make quite enough to stay ahead, and often the quest for riches and possessions can consume people's lives, destroy their families, and steal potential success. 

Those who navigate their finances ignoring the compass of God's Word often find themselves lost on an ocean of worries and cares. Yet if we can put into practice the Bible's principles of finance, we will find freedom and stablity.

Financial freedom is the ability to most effectively use my money for the kingdom of God, without hindrances like debt, poor management, and irresponsibility. 

Financial freedom is when I can say that I control my money, instead of my money controlling me.  It is more than simply not owing money, it is when Christ is truly Lord of my checkbook, my credit cards, my investments, and my budget.  It is the paradox of the Christian life: real freedom comes by total surrender to God!

How can avoiding debt help me fulfill my purpose in life?

1. Staying debt-free allows me to go where God directs.

2. Staying debt-free allows me to give where God prompts.

3. Staying debt-free allows me to save for the future and plan to make a greater impact on the world for Jesus Christ.

4. Staying debt-free allows me to more thoroughly enjoy life.

What is so negative about debt?

The Scripture does not directly say that debt is sin, for in some cases it is not (business, education, or investment debts that are carefully considered ahead of time would be good examples).  However, the Bible never says a positive word about being in debt, it is always cast in a negative light. Why?

1. Debt presumes on the future.

2. Debt takes away barriers to potentially-destructive items.

3. Debt is a bad deal.

4. Debt makes you a servant whoever lent you the money.

5. Debt discourages resourcefulness & limits God's ability to provide.

Why do we find it so hard to live within our means?

1. Comparison with others. (I have to have what they have to be happy!)

2. Wrong priorities (My "needs" are actually just my "wants")

3. Misplaced values (Possessions are more important than…)

4. Impulse living  (If it feels good, buy it!)

Scriptures to Consider:  Luke 12:13-21  (copy verse 15 into your notebook)

How can we get rid of and stay out of debt?

Getting rid of debt will involve our three basic financial principles:

1. PURPOSE Why do I want to get out and stay out of debt?

2. PLANNING What do I currently owe, what will it take to pay it back?

3. DISCIPLINE What daily lifestyle changes do I need to make to get the job done?

Sounding familiar?  These three principles of money management apply to every financial question we have!

Making it Real

Purpose.   List 5 Reasons you want to be debt free on page in your notebook.  List the main reasons you got into debt to begin with.

Planning.  List your debts, from the least to the greatest.  Begin by paying debts that have the highest interest/penalty fees. Make sure you pay any minimums on your other debts as well. For larger debts, make a monthly payment chart and check off each payment as you make it until you are free! If you owe a substantial amount of money, get some resources and advice from www.crown.org.

Discipline.  What lifestyle sacrifices could you make temporarily cut costs in order to help pay down your debts and meet your goals?  List your ideas and talk them over with your family.

Thought & Discussion Questions:

What motivates people to get into debt?

In what cases would debt be acceptable?

Should you be saving while you are still in debt?

Is it ever right to declare bankruptcy? Does this relate to the 8th of the 10 Commandments?

What character qualities can we develop in our lives to protect us against financial bondage?

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