By Pastor John Mateos Ong
Romans 13:8 says, “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.”
When you get into debt, it is so difficult to get out.
There are 2 ways to get out of debt. Either make your income higher or lower your expense. But this is easier said than done.
1. Correct your mindset. - Proverbs 22:7 says, “Just as the rich rule the poor, so the borrower is servant to the lender.”
There are several truths about debt.
1. Debt presumes upon tomorrow.
2. Debt may deny God the opportunity to bless you in a new way.
3. Debt doesn’t give you the opportunity to develop the character and discipline that comes from saving.
4. Debt makes you think differently.
5. Debt robs you of the freedom to serve God effectivly.
6. Debt has a physical and emotional cost.
7. Debt affects other people of your life.
8. Debt robs you of the ability to spend your money freely.
9. Debt temporarily allows you to be somthing you’re not and can take you further away from your God given purpose.
Steps to become debt free:
1. Pray that the Lord can provode resources to help you get out of debt.
2. Stop borrowing more money.
3. If you can’t control your spending, then destroy your credit cards.
4. Call your creditor and negotiate lower interest rates.
5. Make a radical change in your lifestyle.
6. Learn to hate debt.
2. Budget. - Luke 14:28 says ““But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?”
Usual thinking:
- earn as much and spend less
- Live one day at a time
- live off debt
You will never achieve your financial goals and dreams until you learn how to live on a budget.
Money is active and always flowing. A budget helps you control the flow of money in your life so you can direct it to achieve your goals. Unfortunately for many of you; you have never been taught how to create or live on a budget.
Reasons why people don’t live on a budget:
- They do not want to be controlled.
- They have tried in the past and failed.
- They are afraid of what they might find out.
- They don’t know how to create a budgrt.
- They don’t know how to live on a budget too.
- They don’t think they need one because they make so much money.
- They think its time consuming ot complicated.
- They just don’t care.
Reasons why we should make a budget:
God is a planner. He is not unorganized. A budget gives you control and sets boundaries. It is a wall of protection around your house. You are the boss of your household. It is in your power to break it or control it. It can remove miney fights from a marriage. It helps you find areas of overspending and may reveal life issues that you mat not have been aware of. It removes the guilt and shame that may br a part of the buying process. It allows you yo yake advantage of opportunities. It is a good communication tool for married couples.
Essential elements of a good budget:
- It has to be written out.
- A new one must be checked every month.
- A specific timeust be set aside each month to create and review the spending plan.
- Itist not be complicated.
- Only one person should be in charge of preparing the spending plan; however, botg partners have an equal say in making decisions.
- If you’re single, get an accountability partner.
- It should reflect your values, dreams and calling.
- It should zero out every month. This is called zero based budgeting.
3. Save. -Proverbs 6:6-8 says, “Take a lesson from the ants, you lazybones. Learn from their ways and become wise! Though they have no prince or governor or ruler to make them work, they labor hard all summer, gathering food for the winter.”
6 Secrets to Saving
1. You have to make saving a priority in your life. Make it intentional.
2. Saving has more to do with attitude than income.
3. Saving takes discipline and maturity.
4. You have to understand yhe correct order in which to save.
5. Remember that time is your best friend.
6. Saving money requires creativity.
Finding the money:
1. Start a business on the side.
2. Slash expenses drastically. Collect recievables.
3. Have a garage sale.
4. Decide who your master is. - Matthew 6:19-21 says, ““Don’t store up treasures here on earth, where moths eat them and rust destroys them, and where thieves break in and steal. Store your treasures in heaven, where moths and rust cannot destroy, and thieves do not break in and steal. Wherever your treasure is, there the desires of your heart will also be.”
Comments