TRUE RICHES #2

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God encourages us to seek counsel before making important financial decisions. We seek counsel to get insights, suggestions and alternatives that will aid in making the best decision. The Bible provides several practical principles to help us spend money wisely. It also discourages the use of debt. The reason the Lord wants us free from debt is because , and the Lord wants us free to serve Him.

Notes
Transcript

TRUE RICHES Notes #2

Introduction
Seeking Counsel
Spending
Debt
Summary

Introduction

Let’s review. In the first Sermon/Teaching Notes, we discovered that God owns everything on earth. Our responsibility is to be faithful stewards (managers) of the possessions the Lord has entrusted to us. We also learned what the Bible teaches about work and how we should earn money.
In True Riches Notes #2, we will learn the importance of seeking counsel from experienced, godly people when making financial decisions; how to spend money wisely; and what the Bible teaches about avoiding debt.

Seeking Counsel

God encourages us to seek counsel before making important financial decisions. “Listen to advice and accept instruction, and in the end you will be wise” (Proverbs 19:20). “The way of a fool seems right to him, but a wise man listens to advice.” (Proverbs 12:15). Some people avoid seeking counsel from others because of their pride. They view asking for advice as a sign of weakness, but this is contrary to what the Bible teaches. We should seek counsel to secure insights, suggestions and alternatives that will help us make the best decisions.
Scripture encourages us to ask advice from a several sources.
Spouse
If you are married, the first person you need to consult is your spouse. A husband and wife are one, and they need each other to make proper decisions. Women tend to be gifted with an accurate intuitive nature. Men tend to focus more on the facts. Many times the Lord communicates most clearly to the husband through his wife because God has designed her to be his helpmate. A husband should seek his wife’s counsel in financial matters regardless of her level of experience.

Parents

Another source of counsel is our parents. “My son, keep your father’s commands and do not forsake your mother’s teaching. Bind them upon your heart forever; fasten them around your neck. When you walk, they will guide you; when you sleep, they will watch over you; when you awake, they will speak to you” (Proverbs 6:20-22). Our parents have the benefit of years of experience, and they know us well.

C. Godly people

We should also ask advice of godly people who know how to apply the principles found in the Word of God. Experienced people who know the Bible are especially valuable counselors. The Bible makes this remarkable claim about itself: “For the word of God is living and active. Sharper than any double-edged sword...it judges the thoughts and attitudes of the heart” (Hebrews 4:12).
The Bible is a living book that our Lord uses to communicate His direction to all generations. Its truths are timeless. Psalm 119:98-100 reads, “Your commands make me wiser than my enemies...I have more insight than all my teachers, for I meditate on your statutes. I have more understanding than the elders, for I obey your precepts.”

D. Many counselors

Each of us has a limited range of knowledge and experience; we need the input of others to give us insight and stimulate our thinking with alternatives we would not otherwise consider. “Plans fail for lack of counsel, but with many advisers they succeed.” (Proverbs 15:22). “For lack of guidance a nation falls, but many advisers make victory sure” (Proverbs 11:14).

E. Avoid fortune-tellers, mediums and spiritualists!

The Bible tells us never to seek the advice of fortune-tellers, mediums or spiritualists: “Do not turn to mediums or seek out spiritists; for you will be defiled by them. I am the Lord your God” (Leviticus 19:31). Listen to this next passage carefully: “Saul died because he was unfaithful to the Lord; he did not keep the word of the Lord and even consulted a medium for guidance, and did not inquire of the Lord” (1 Chronicles 10:13-14). Saul died, in part, because he went to a medium. We should avoid any methods they use in attempting to forecast the future, such as horoscopes and all other practices of the occult.

Spending

There are several biblical principles that should influence our spending.
1. Learn to be content.
The word contentment is mentioned seven times in Scripture, and six times it has to do with money. Paul wrote, “I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in
want. I can do all everything through Him who gives me strength” (Philippians 4:11-13). Paul “learned” to be content. We are not born content; rather, we learn contentment.
“If we have food and clothing, we will be content with that” (1 Timothy 6:8). Biblical contentment is an inner peace that accepts what God has chosen for our present work and financial situation. “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’” (Hebrews 13:5).
2. Learn to avoid coveting.
Coveting means craving another person’s property, and it is prohibited in Scripture. The last of the Ten Commandments reads, “You shall not covet your neighbor’s house. You shall not covet your neighbor’s wife, or his manservant or his maidservant, his ox or donkey, or anything that belongs to your neighbor” (Exodus 20:17). In other words, we are commanded not to covet anything that belongs to anyone!
3. Do not determine your spending by comparing it to others.
Some spend more than they can afford because they want to spend as much as people they know.
4. Live simply.
Some possessions can demand so much time or money that they harm our relationship with the Lord and our loved ones. Scripture encourages us to live a quiet, simple life. “Make it your ambition to lead a quiet life, to mind your own business and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody” (1 Thessalonians 4:11-12).
5. Needs should be met within the body of Christ.
The early church was a model of meeting needs. “Our desire is not that others might be relieved while you are hard pressed, but that there might be equality. At the present time your plenty will supply what they need, so that in turn their plenty will supply what you need. Then there will be equality, as it is written: “He who gathered much did not have too much, and he who gathered little did not have too little.” (2 Corinthians 8:13-15).
6. Be aware of the influence of advertising.
Many of us are exposed to effective advertising that creates discontentment with what we have. It often communicates the deceptive message that if we buy something we will be happy and satisfied. Remember, the purpose of advertising is to prompt you to spend money. Seek the Lord’s guidance and godly counsel when making a spending decision. If you think a purchase would not please God, do not buy it.
What Scripture says about debt
A. Debt is discouraged.
“Let no debt remain outstanding” (Romans 13:8). B. Debt is considered slavery.
“The rich rule over the poor, and the borrower is servant to the lender” (Proverbs 22:7). We do not have full freedom to decide where to spend our income if we have obligated ourselves to repay debt.
C. In the Old Testament:
(1) Debt was a curse for disobedience.
“If you do not obey the Lord your God...all these curses will come upon you...The alien who lives among you will rise above you higher and higher...He will lend to you, but you will not lend to him” (Deuteronomy 28:15, 43-44).
(2) Freedom from debt was a reward for obedience.
“If you fully obey the Lord your God...all these blessings will come upon you...You will lend to many nations but will borrow from none” (Deuteronomy 28:1-2, 12).
D. Debt presumes on the future.
When we get into debt, we assume that we will earn enough income in the future to pay the debt. The Bible discourages presumption. “You who say, ‘Today or tomorrow, we will go to this or that city, spend a year there, carry on business and make money.’ Why, you do not even know what will happen tomorrow...Instead, you ought to say, ‘If it is the Lord’s will, we will live and also do this or that’” (James 4:13-15).
E. Repay what is borrowed.
“The wicked borrow and do not repay, but the righteous give generously” (Psalm 37:21). God’s people should pay their debts as promptly as they can. “Do not withhold good
7. Develop and use a spending plan (budget).
We are encouraged to plan how to spend and be aware of our possessions. “Be sure you know the condition of your flocks, give careful attention to your herds” (Proverbs 27:23). Using a spending plan is a practical way to spend wisely.
IV . Debt
The Bible does not say that using debt is sin, but it does discourage it. Debt is money or possessions which one person is obligated to pay to another. Debt includes money owed to banks, friends, relatives, credit card companies, and finance companies.
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from those who deserve it, when it is in your power to act. Do not say to your neighbor, ‘Come back later; I’ll give it tomorrow’— when you now have it with you” (Proverbs 3:27-28).
Some factors that lead to debt
Lack of knowledge: Most people have not been trained to handle money God’s way.
Lack of planning and discipline: Many people spend impulsively because they have no written plan or budget to ensure that spending does not exceed income.
Indulgence: Some people spend in an attempt to satisfy fleshly desires.
Circumstances: Sometimes people use debt when they experience unexpected emergencies, such as an illness or loss of a job.
How to get out of debt
Here are eight steps for getting out of debt.
A. Pray
In 2 Kings 4:1-7 a widow was threatened with losing her children to her creditor, and she asked Elisha for help. Elisha told her to borrow empty jars from her neighbors. The Lord multiplied her only possession, a little oil, and all the jars were filled. She sold the oil to pay her debts and free her children.
The same God who provided for the widow is interested in helping us becoming free from debt. The most important step is to pray, seeking the Lord’s help and guidance.
B. Accumulate no new debt.
C. List all your debts and everything you own.
List your debts to determine your current financial situation. Then decide whether you should sell any possessions to reduce debt.
D. Use a written spending plan or budget.
Develop a written spending plan to ensure that spending does not exceed income.
E. Establish a repayment plan for each debt.
Most creditors are willing to work with people who honestly want to repay their debt, communicate regularly and follow through.
Try to pay off the smallest debts or those with the highest interest rate first. Once you have paid off the first debt, add that payment amount to the regular payment for the
second one you want to pay off. Then, when that one is paid off, apply both payments to the next debt and so forth until all debts are paid.
F. Consider earning additional income.
Many people hold jobs that simply do not produce enough income to meet their needs even if they spend wisely. They may need to earn additional income to stay out of debt.
G. Reduce spending.
Some people need to lower their spending to get out of debt.
5. When is debt acceptable?
Scripture is silent on when using debt is acceptable. In our opinion, it is permissible to owe money for your business, for the purchase of a home mortgage, or for education for your vocation. If you borrow for any of these uses, follow these guidelines:
Make debt the exception and not the rule.
Plan to repay what was borrowed as soon as possible.
Create a written repayment plan. 6. Cosigning Cosigning relates to debt. Anytime you cosign, you become legally responsible for the debt of another. It is just as if you borrowed the money and gave it to your friend or relative who is asking you to cosign. The Bible discourages cosigning. Proverbs 17:18 reads, “It is poor judgment to cosign another’s note, to become responsible for his debts” (TLB). V. Summary God encourages us to seek counsel before making important financial decisions. “Listen to advice and accept instruction, and in the end you will be wise” (Proverbs 19:20). We seek counsel to get insights, suggestions and alternatives that will aid in making the best decision. The Bible provides several practical principles to help us spend money wisely. It also discourages the use of debt. “Let no debt remain outstanding” (Romans 13:8). The reason the Lord wants us free from debt is because “The borrower is servant to the lender” (Proverbs 22:7), and the Lord wants us free to serve Him.
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