Crushing Consumer Debt
Abide in Me | Part 7 | February 18, 2024
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“I am the true vine, and My Father is the Gardener...you are the branches. He who abides in Me, and I in him, bears much fruit; for without Me you can do nothing. If you abide in Me, and My words abide in you, you will ask what you desire, and it shall be done for you. By this My Father is glorified, that you bear much fruit; so you will be My disciples. “As the Father loved Me, I also have loved you; abide in My love. John 15:1,4–5,7–9 NKJV
You are what you HAVE
You are what others SAY
You are what you DO
5 Financial Categories
Struggling
Surviving
Stable
Secure
Surplus
Ron Blue, Master Your Money
5 Biblical Financial Principles
Spend less than you earn
Avoid the use of debt
Build margin (save)
Set long-term goals
Give generously
Ron Blue, Master Your Money
God thinks differently than you and I
Money problems are not math problems
Money problems are spiritual issues.
Then one from the crowd said to Him, “Teacher, tell my brother to divide the inheritance with me.” But He said to him, “Man, who made Me a judge or an arbitrator over you?” And He said to them, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.” – Jesus, Luke 12:13–15, NKJV
Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. No matter what you make, you’ll keep spending more. The more you have, the more you spend. Ecclesiastes 5:10–11, NIV
We don’t have money problems,
We have spiritual identity problems.
5 Biblical Financial Principles
Spend less than you earn
Avoid the use of debt
Build margin (save)
Set long-term goals
Give generously
Ron Blue, Master Your Money
The borrower is a slave to the lender. The poor are always ruled over by the rich, so don’t borrow and put yourself under their power. Proverbs 22:7, NIV/MSG
When you borrow you are joined to the debt and to the lender.
Avg. American has 4 credit cards
Record leap in U.S. credit card balances
61% revolving credit card balance $8,400
Interest avg. rate record high of 20.1%
Serious credit card delinquencies up, ages 18-29
Avg. car loan 60+ months/7.5%
Avg. total consumer debt $23,964
Avg. Ind. Student Loan debt $31,483
Hamilton Co. $3B consumer debt, $31M/mo.
Do not conform to the pattern of this world… Romans 12:2
Stop being crushed by debt
Cut up your credit cards
The wise man saves for the future, but the foolish man spends whatever he gets. Proverbs 21:20
The wise save for the future, but the foolish pretend to be rich while depending on debt. Proverbs 21:20