Message Notes 8-24-03
Figuring Out Your Finances – Part 3
Today: Breaking Out of the Debt Trap

Proverbs 22:7 The rich rule over the poor, and the borrower is servant to the lender.

I looked up the word “debt” in a thesaurus.  Here are the synonyms for debt: to owe, to be obligated, liable, in deficit, in default, insolvent, encumbered, in over one’s head, tied up, out of pocket, in arrears, indigent, paupered, destitute, penniless, needy, lacking, distressed, in difficulty, a deadbeat, having a wolf at your door, living hand to mouth, beggarly, emptied, having seen better days, gone to the dogs, racked and ruined, impoverished, bad off, hard up, beaten down, reduced to ruin, fleeced, stripped, bereft, bereaved, reduced, unable to make ends meet, embarrassed, broke, busted.

Warning Signs that you might be entering the “Debt Trap:”

1.  LIVING ON ____ credit ______ INSTEAD OF ___ paying cash __________

Could be a demonstration of a lack of contentment – Hebrews 13:5 Keep your lives free from the love of money and be content with what you have, because God has said: “Never will I leave you; never will I forsake you.”

Presumes on the future – Proverbs 27:1 Do not boast about tomorrow, you do not know what a day may bring forth.

2.  DELAYING ____payments______ OR PAYING __the minimum due ___
Romans 13:8a Let no debt remain outstanding, except the continuing debt to love one another…

3.  UNABLE TO ___tithe_________ OR ___ save _________________

Malachi 3:8“Will a man rob God?  Yet you rob Me.  But you ask, `How do we rob You?’  In tithes and offerings.”

Proverbs 21:20 In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.

5.  EXTRAVAGANT __spending ___
Proverbs 21:17 He who loves pleasure will become poor; whoever loves wine and oil will never be rich.

6.  LOOKING FOR __get rich quick ___IDEAS __and other quick fixes___
Dishonest money dwindles away, but he who gathers money little by little makes it grow.  Proverbs 13:11

Seven Steps Out of the Debt Trap:
1. __ commit ____ TO BECOMING DEBT FREE NOW!
Psalm 37:21 The wicked borrow and do not repay, but the righteous give generously…

Proverbs 3:28 Do not say to your neighbor, come back later; I’ll give it tomorrow”—when you now have it with you.

2.  START PAYING ___ God ______ & _____ myself ______________ FIRST.
Proverbs 3:9-10 Honor the LORD with your wealth, with the firstfruits of all your crops;
10 then your barns will be filled to overflowing, and your vats will brim over with new wine.

Malachi 3:8 “Will a man rob God? Yet you rob me.
“But you ask, ‘How do we rob you?’
“In tithes and offerings.  9 You are under a curse—the whole nation of you—because you are robbing me.  10 Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the LORD Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it.  11 I will prevent pests from devouring your crops, and the vines in your fields will not cast their fruit,” says the LORD Almighty.

Proverbs 21:20 In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.

10/10/80 PLAN - 10% to God, 10% to myself (savings) and live off the remaining 80%    

3.  LIST ALL I __owe _______________ & ALL I _____own _______________ .
Proverbs 27:23Be sure you know the condition of your flocks, give careful attention to your herds…

·          Simplify your life, if possible. Sell stuff off. Cancel or downgrade services if possible.

·          Know the outstanding balance and minimum monthly payment for each creditor


4.  SET UP A ___repayment plan _______________
Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.

Proverbs 20:18a Make plans by seeking advice…

 A good plan: Place your credits cards on a cookie sheet. Preheat oven to 400 degrees. Bake cards thoroughly. Then, pay the minimum on each bill, EXCEPT the one with the smallest balance. For that one, pay as much as you can. When the smallest bill is paid off, take the amount you were paying towards it and put it towards the next highest bill.

 5.  LEARN TO __be content___ WITH WHAT YOU HAVE. DON’T TAKE ON ANY ___new debt _____!

Hebrews 13:5 Keep your lives free from the love of money and be content with what you have, because God has said: “Never will I leave you; never will I forsake you.”

Ecclesiastes 5:10 Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income.

6.  SHARE MY PLAN WITH ____my creditors, AND ASK __for mercy when possible.__

Daniel 1:8-9 But Daniel resolved not to defile himself with the royal food and wine, and he asked the chief official for permission not to defile himself this way.  9 Now God had caused the official to show favor and sympathy to Daniel…

Proverbs 16:7 When a man’s ways are pleasing to the LORD, he makes even his enemies live at peace with him.

7.  Stick with it. Ask God to help you_____ !
Galatians 6:9 Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.

Romans 6:23 For the wages of sin is death, but the gift of God is eternal life in Christ Jesus our Lord.

Romans 5:8 But God demonstrates his own love for us in this: While we were still sinners, Christ died for us.

A prayer to begin a relationship with Christ: “Dear Jesus, I realize that I need You in my life. I want to have a real relationship with You. Today, I have realized that you created me to know you. I also realize today that I have sinned against you. Please forgive me. I turn to you and ask you to be the leader of my life. I give you my heart, my soul, my life, my past, and my future. Thank you for dying for me.  Help me to live for you, now and forever. Amen.