Wisdom for your wallet

The financially wise avoid debt. Proverbs warns, “The rich rules over the poor, And the borrower is the lender’s slave” (22:7).

 

Or, as the Seven Dwarfs might sing, “I owe, I owe it'd off to work I go…”

 

The Bible doesn’t teach that all debt is wrong, but debt is a trap. Sometimes debt is unavoidable in an emergency, or you might secure a loan to make your life a little easier, but it is best to avoid borrowing unless absolutely necessary. Especially for something that will go down in value, like a new car. Rent-to-own plans are not a good idea, either, and payday loans can tangle you up in a deepening spiral of liability.

 

The first five verses of Proverbs 6 advise against co-signing a loan for a friend. It is dangerous for both financial and relationship reasons. You oblige yourself to pay a loan for a person that the bank does not trust.

 

If you find yourself in debt, get out of fast. “Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.” (Proverbs 6:5)

 

First, don’t borrow any more money. Don’t take out a debt consolidation loan. There will be fees, more interest and you’ll end up owing more money. Instead make the minimum payments on all your obligations and make extra payments on the smallest debt. When that one is paid off, work on the next smallest and so on. In this way, you are reversing the debt spiral in which you found yourself.

 

Commit any unexpected cash to reducing the debt and try to make some extra money. You can have a yard sale and get rid of your clutter or get a part time job. Even at minimum wage, a part time job will make enough to make a significant dent in your debt.

 

Keep going after you’ve paid off the credit cards and the car loans. Start saving to build up an emergency fund. Keep going. Start saving for your next car. If you can make a car payment, you can set that much aside. Make interest instead of paying it.

 

Be like the ant. “…it stores its provisions in summer and gathers its food at harvest.” (Proverbs 6:8)

How to Avoid the Traps of Success Part 3: The Recognition Trap

Judges 8:22-35

Gideon's success was astounding. Moving from fearful farmer to mighty warrior, he brought an end to pagan worship in Israel and defeated the Midianite army but his story does not have a happy ending.

"No sooner had Gideon died than the Israelites again prostituted themselves to the Baals. They set up Baal-Berith as their god and did not remember the LORD their God, who had rescued them from the hands of all their enemies on every side. They also failed to show kindness to the family of Jerub-Baal (that is, Gideon) for all the good things he had done for them." (Judges 8:33-35)

Gideon fell into the recognition trap. He took the gold earrings and had an ephod (a ceremonial garment) made as a memorial for this high achievement in life. He did not want to be forgotten.

In Genesis we learn of a group who wanted to be remembered. They tried to build a monument but God confused their language and scattered them. God does not share His glory!

Gideon demonstration that he had more money than he needed by commissioning this ephod made from the spoils of war. Some will use acts of conspicuous consumption for recognition – expensive cars, homes, jewelry. Some people will go into debt to show pretend wealth.

He was a hometown hero and put the ephod on the altar he built to the LORD. There are no stories of Gideon beyond this point. He would settle into a life of comfort and bask in the memories of past victories.

The choices Gideon made following his victory deviated from God's path only a little bit but the deviation put Israel on a path that took them far from God and, 40 years later, they had forgotten Gideon and his family.

Part 1 – The Celebrity Trap

Part 2 – The Entitlement Trap

No One Can Serve Two Masters

Guest blog by Jonathan and Marina Clark

Jonathan:

We have been praying about how God might use us and our resources to be a part of His work here at Baptist Temple. We do not give to Baptist Temple, these buildings, not to lights or salaries but to God who gave us everything we have. Through study we have come to know that every stitch of clothing and every possession we have was always God’s, they do not belong to us.

The scripture says,

“No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” Matthew 6:24 (NIV)

Our debts represent another master in our life and they frustrate the desire to give to God because ultimately they represent our own selfish desires in that they hinder us. Our ability to give is hindered by other masters.

When we married we had to combine our households and we ended up with an abundance of stuff that we would not let go. Consequently, our stuff has become another master.

Despite our mismanagement God continues to provide for all of our family’s needs. So we are recognizing that God is the one who has made it possible for us to give above and beyond our current tithes and offerings.

Marina:

This year, when we returned to school we were told that we would not only receive a raise they had originally considered but also 2% beyond that. During the same time our church began the Capital Campaign and challenged us to seek prayerfully the amount God was calling us to give over and beyond our tithe. While Jonathan and I were praying and discussing an amount we realized that I had not received a raise by chance. My raise happened just as the scripture says “for such a time as this” so we decided that the minimum amount we would give over the next 3 years was the amount of my increase that I received as a raise.

A portion of some unexpected return of moneys has provided us a way to make a first fruits offering as well.

God is helping us to sell off, throw away, and cast out the excessive possessions we have hung on to so long. Jesus said that, to whom much has been given much is required. He is already revealing ways that we could use these hindrances for His glory. Our marriage is being strengthened because He is creating a like mindedness about giving and providing freedom from oppressive masters as a result.

We challenge you to pray and see what God has blessed you with this year because He never gives without purpose.