Know: Identify the factors that contribute to needless debt within the context of being faithful stewards of God, entrusted with financial resources.
Feel: Experience the emotional freedom of becoming debt free with the liberty to invest surpluses for kingdom advancement.
Do: Structure income and expenses so that debt does not become a financial and emotional burden.
Learning Outline
Know: Legacy of Debt
What are the primary causes of debt, and how can they be avoided? B What are some practical safeguards that help us live within our means? C How does saving and investing build a barrier against debt?
Feel: The Freedom of Being Debt Free
What are the psychological and emotional benefits gained from being free from debt?
How can believers feel satisfied and content with what they have when the world encourages them to accumulate more and more?
Do: Managing Debt
How should Christians manage their indebtedness, and how should they relate to such things as credit cards?
How can Christians budget wisely and set appropriate, God-given priorities to guide their spending?
How does instant gratification relate to trusting God for the future?
How can heavenly investments and wise earthly investments actually complement each other?
Summary: The believer who lives debt-free is both financially and emotionally free. Godliness with contentment is marvelous gain, and wise management of life’s financial and material resources includes investing and saving.
Learning Cycle
STEP 1—Motivate
Spotlight on Scripture: Romans 13:7, 8
Key Concept for Spiritual Growth: God is accustomed to rescuing sinners from their sinful indebtedness, and He is perfectly capable of delivering them from financial indebtedness, as well.
Just for Teachers: Unwise debt has hindered the spiritual growth of many believers, accelerating multiple divorces, causing suicides, and contributing to depression. Satan’s forces know that spiritual wholeness is very difficult whenever financial obligations consume lives.
Financial commitments have strong spiritual ramifications. Those who have avoided indebtedness generally enjoy better emotional health and higher community esteem. Debt can seem like emotional quicksand—the more one struggles to get free, the more quickly one starts sinking. As with smoking, the easiest way to break the debt habit is never to start. For those who receive this advice too late, God offers the hope of freedom.
Opening Activity: Discuss the dangers of gradually accumulating debt. An apt illustration is credit card debt in which paying the minimum amount due and adding new charges each month snowballs indebtedness. How does this illustration show the importance of never starting down the road of debt in the first place?
STEP 2—Explore
Just for Teachers: Indebtedness has become an increasingly common component of modern life. Families declare bankruptcy, cities declare bankruptcy, and even nations declare bankruptcy. The United States, which once boasted the most robust economy in the world, has assumed staggering amounts of debt. For many, multiple credit card payments are the source of constant anxiety. Does the Bible have anything to say about this worldwide epidemic? Indeed, it does.
Bible Commentary
I. The Risk of Borrowed Capital (Review Psalm 37:21, Ecclesiastes 5:5, Deuteronomy 28:43–45, and Proverbs 22:7 with the class.)
The book of 2 Kings records the story of a student who borrowed an ax for a construction project (2 Kings 6:1–6). During the course of the project, the ax head flew off the handle and sank into the riverbed nearby. The student was unsettled by two things: not only had he lost the ax, but the ax was borrowed.
Solomon warned that borrowers are slaves of lenders (Prov. 22:7). We see the truth of this warning played out in the use of credit cards. The terms of borrowing are highly unfavorable and stacked against the borrower. Exorbitant interest rates, skyrocketing to 20 percent (annually) and higher, are not uncommon—not to mention late fees and other penalties that merely compound the problem. Anxiety regarding repayment sometimes reaches unbearable levels. The wisest course is to spend only what one has and to save for future purchases.
Consider This: Why is having what one wants now not worth the anxiety over repayment? What did Solomon mean by his warning that borrowers are slaves of the lenders?
II. Instant Gratification (Review Genesis 3:6, 25:34, Matthew 4:3–10, 2 Samuel 11:2–4, 1 John 2:16, and Romans 8:8 with the class.)
How many, in the spirit of Esau, satisfy immediate cravings by sacrificing their spiritual birthrights? We live in the age of instant gratification. In many countries, there are instant meals, microwave ovens, overnight loans, easy credit, and fast-food restaurants. There is instant communication. Whereas generations past waited anxiously for months to receive letters from around the world, today’s communicators use Skype, FaceTime®, and other technological advances to connect instantly with people globally.
These modern miracles are not necessarily bad in and of themselves, but they do contribute to an atmosphere of instant gratification that fosters an attitude of “I want it now, and I’ll find a way to get it now.”With unscrupulous lenders all too willing to capitalize on the desires of consumers to have it all right now, the culture of instant gratification has become widespread. Spiritually, this ravenous hunger displays an absence of trust that God will take care of things in the long run. Thus, in the Bible we read, tragically, that Ahab wants Naboth’s vineyard—and gets it now. Saul becomes impatient with Samuel’s delay—and acts now. Where is the trust that God will supply the things needed when they are needed the most?
Consider This: How can believers differentiate between needs and wants, between things that can wait and things that are immediately essential?
III. Living Contentedly (Review 1 Timothy 6:6–10, Matthew 6:33, and Luke 14:27– 33 with the class.)
Writing to Timothy, his young protégé, Paul extolled the value of godliness coupled with contentment. His reasoning runs against contemporary trends that strongly advocate entitlement. Coupled with this atmosphere of entitlement is human covetousness. Asaph confessed, “I was envious of the arrogant; I saw the prosperity of the wicked” (Ps. 73:3, NRSV). “We deserve better” and “Everyone else is getting theirs” are the dangerous mottos of the spendthrift generation.
Against this selfish tendency, Jesus reminded His Jewish hearers that even pagans count the cost before building. Today we call this budgeting. Budgeting can provide a practical barrier against overspending, borrowing, abusing credit, and other dangerous practices. Budgeting enables believers to live within their means and plan wisely for future expenditures. Desiring nicer things is not wrong, but coveting them is sinful. Money is not the problem; loving money is. Living contentedly (1) demonstrates appreciation for God’s generous provision, (2) demonstrates confidence about His ongoing watchfulness, and (3) provides personal tranquility. Worrying about our futures changes nothing anyway.
Consider This: Paul makes a distinction between money and the love of it when he says that the love of money—not money itself—is the root of many evils. Why is this distinction important, and what does Paul mean? How might living contentedly improve our overall health?
IV. Saving and Investing (Review Proverbs 6:6–8; 13:11, 18; 15:22; 21:5; 24:27; and Deuteronomy 8:18 with the class.)
So often we spend so much time on the negative consequences of debt that we neglect the positive value of investment. Solomon championed the ant’s example of preparing for future needs. Proper budgeting sets aside God’s portion first (tithe and offerings), then it takes care of current demands, and finally it sets aside savings for investment and preparation for future needs. Knowledgeable investors are not tricked by get-rich-quick schemes. They invest not only for personal gain but also for the benefit of those with whom they invest.
God bestows the intelligence with which to build wealth. He wants to multiply our financial resources. He finds trustworthy stewards such as Robert LeTourneau and entrusts them with wealth. With his wealth, LeTourneau founded a Christian college and, by the end of his life, was reportedly living on 10 percent and returning 90 percent to God.
Consider This: What are the keys to successful Christian budgeting?
STEP 3—Apply
Just for Teachers: Successful life management requires restraint and wisdom. Through God’s Spirit, we obtain both. Contentment demonstrates that we have both.
Application Questions:
Where can believers find the tools to build a realistic, God-honoring budget?
How can Christians cultivate contentment in a world that screams “entitlement”? ¯ How can today’s stewards present these principles to their children when their own lives have not demonstrated them up to this point?
What steps should Christ’s disciples take to extract themselves from paralyzing debt? ± How can Jesus’ followers become successful investors? ² How would Christ want His followers to relate to those who may have borrowed from them?
STEP 4—Create
Just for Teachers: The action steps that members take from this point forward depend largely on the positions in life the individual members hold. Some have made good choices and investments, while others have succumbed to worldliness and instant gratification. We should also remember that some may be impoverished through no fault of their own. Some, because of accidents or illnesses they themselves have experienced, are poor. Others have family members who have suffered, thus draining family finances. Some grew up in homes in which these principles were not taught, and, thus, they never developed management skills. God, however, takes us from wherever we are to wherever He wants us to be, as long as we trust and obey Him completely.
Activities:
Construct a budget. If you have never done this before, ask friends for help, or consult the many excellent Christian materials about budgeting that are available from your library or Christian bookstore.
Research several investment opportunities for (1) income potential, (2) ethical considerations (for example, should Christians be financing nuclear warheads?), and (3) potential to help others.
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Key Text: Romans 13:7, 8
The Student Will:
Learning Outline
Summary: The believer who lives debt-free is both financially and emotionally free. Godliness with contentment is marvelous gain, and wise management of life’s financial and material resources includes investing and saving.
Learning Cycle
STEP 1—Motivate
Spotlight on Scripture: Romans 13:7, 8
Key Concept for Spiritual Growth: God is accustomed to rescuing sinners from their sinful indebtedness, and He is perfectly capable of delivering them from financial indebtedness, as well.
Just for Teachers: Unwise debt has hindered the spiritual growth of many believers, accelerating multiple divorces, causing suicides, and contributing to depression. Satan’s forces know that spiritual wholeness is very difficult whenever financial obligations consume lives.
Financial commitments have strong spiritual ramifications. Those who have avoided indebtedness generally enjoy better emotional health and higher community esteem. Debt can seem like emotional quicksand—the more one struggles to get free, the more quickly one starts sinking. As with smoking, the easiest way to break the debt habit is never to start. For those who receive this advice too late, God offers the hope of freedom.
Opening Activity: Discuss the dangers of gradually accumulating debt. An apt illustration is credit card debt in which paying the minimum amount due and adding new charges each month snowballs indebtedness. How does this illustration show the importance of never starting down the road of debt in the first place?
STEP 2—Explore
Just for Teachers: Indebtedness has become an increasingly common component of modern life. Families declare bankruptcy, cities declare bankruptcy, and even nations declare bankruptcy. The United States, which once boasted the most robust economy in the world, has assumed staggering amounts of debt. For many, multiple credit card payments are the source of constant anxiety. Does the Bible have anything to say about this worldwide epidemic? Indeed, it does.
Bible Commentary
I. The Risk of Borrowed Capital (Review Psalm 37:21, Ecclesiastes 5:5, Deuteronomy 28:43–45, and Proverbs 22:7 with the class.)
The book of 2 Kings records the story of a student who borrowed an ax for a construction project (2 Kings 6:1–6). During the course of the project, the ax head flew off the handle and sank into the riverbed nearby. The student was unsettled by two things: not only had he lost the ax, but the ax was borrowed.
Solomon warned that borrowers are slaves of lenders (Prov. 22:7). We see the truth of this warning played out in the use of credit cards. The terms of borrowing are highly unfavorable and stacked against the borrower. Exorbitant interest rates, skyrocketing to 20 percent (annually) and higher, are not uncommon—not to mention late fees and other penalties that merely compound the problem. Anxiety regarding repayment sometimes reaches unbearable levels. The wisest course is to spend only what one has and to save for future purchases.
Consider This: Why is having what one wants now not worth the anxiety over repayment? What did Solomon mean by his warning that borrowers are slaves of the lenders?
II. Instant Gratification (Review Genesis 3:6, 25:34, Matthew 4:3–10, 2 Samuel 11:2–4, 1 John 2:16, and Romans 8:8 with the class.)
How many, in the spirit of Esau, satisfy immediate cravings by sacrificing their spiritual birthrights? We live in the age of instant gratification. In many countries, there are instant meals, microwave ovens, overnight loans, easy credit, and fast-food restaurants. There is instant communication. Whereas generations past waited anxiously for months to receive letters from around the world, today’s communicators use Skype, FaceTime®, and other technological advances to connect instantly with people globally.
These modern miracles are not necessarily bad in and of themselves, but they do contribute to an atmosphere of instant gratification that fosters an attitude of “I want it now, and I’ll find a way to get it now.”With unscrupulous lenders all too willing to capitalize on the desires of consumers to have it all right now, the culture of instant gratification has become widespread. Spiritually, this ravenous hunger displays an absence of trust that God will take care of things in the long run. Thus, in the Bible we read, tragically, that Ahab wants Naboth’s vineyard—and gets it now. Saul becomes impatient with Samuel’s delay—and acts now. Where is the trust that God will supply the things needed when they are needed the most?
Consider This: How can believers differentiate between needs and wants, between things that can wait and things that are immediately essential?
III. Living Contentedly (Review 1 Timothy 6:6–10, Matthew 6:33, and Luke 14:27– 33 with the class.)
Writing to Timothy, his young protégé, Paul extolled the value of godliness coupled with contentment. His reasoning runs against contemporary trends that strongly advocate entitlement. Coupled with this atmosphere of entitlement is human covetousness. Asaph confessed, “I was envious of the arrogant; I saw the prosperity of the wicked” (Ps. 73:3, NRSV). “We deserve better” and “Everyone else is getting theirs” are the dangerous mottos of the spendthrift generation.
Against this selfish tendency, Jesus reminded His Jewish hearers that even pagans count the cost before building. Today we call this budgeting. Budgeting can provide a practical barrier against overspending, borrowing, abusing credit, and other dangerous practices. Budgeting enables believers to live within their means and plan wisely for future expenditures. Desiring nicer things is not wrong, but coveting them is sinful. Money is not the problem; loving money is. Living contentedly (1) demonstrates appreciation for God’s generous provision, (2) demonstrates confidence about His ongoing watchfulness, and (3) provides personal tranquility. Worrying about our futures changes nothing anyway.
Consider This: Paul makes a distinction between money and the love of it when he says that the love of money—not money itself—is the root of many evils. Why is this distinction important, and what does Paul mean? How might living contentedly improve our overall health?
IV. Saving and Investing (Review Proverbs 6:6–8; 13:11, 18; 15:22; 21:5; 24:27; and Deuteronomy 8:18 with the class.)
So often we spend so much time on the negative consequences of debt that we neglect the positive value of investment. Solomon championed the ant’s example of preparing for future needs. Proper budgeting sets aside God’s portion first (tithe and offerings), then it takes care of current demands, and finally it sets aside savings for investment and preparation for future needs. Knowledgeable investors are not tricked by get-rich-quick schemes. They invest not only for personal gain but also for the benefit of those with whom they invest.
God bestows the intelligence with which to build wealth. He wants to multiply our financial resources. He finds trustworthy stewards such as Robert LeTourneau and entrusts them with wealth. With his wealth, LeTourneau founded a Christian college and, by the end of his life, was reportedly living on 10 percent and returning 90 percent to God.
Consider This: What are the keys to successful Christian budgeting?
STEP 3—Apply
Just for Teachers: Successful life management requires restraint and wisdom. Through God’s Spirit, we obtain both. Contentment demonstrates that we have both.
Application Questions:
STEP 4—Create
Just for Teachers: The action steps that members take from this point forward depend largely on the positions in life the individual members hold. Some have made good choices and investments, while others have succumbed to worldliness and instant gratification. We should also remember that some may be impoverished through no fault of their own. Some, because of accidents or illnesses they themselves have experienced, are poor. Others have family members who have suffered, thus draining family finances. Some grew up in homes in which these principles were not taught, and, thus, they never developed management skills. God, however, takes us from wherever we are to wherever He wants us to be, as long as we trust and obey Him completely.
Activities: