Thursday August 25, 2011

Read 1 Corinthians 16:2, 2 Corinthians 8:3; 9:6-11

 

HOW to Give

Using 1 Corinthians 16:2 and 2 Corinthians 8:3; 9:6-11, the New Testament teaching on sharing can be summarized with seven p's:

 

1. Periodic. "On the first day of every week" (1 Corinthians 16:2).

2. Personal. "Let each one of you" (1 Cor. 16:2); "let each one" (2 Cor. 9:7).

3. Planned. "Put aside and save" (1 Corinthians 16:2); "do just as he has purposed in his heart" (2 Corinthians 9:7).

4. Proportionate. "As he may prosper" (1 Corinthians 16:2)

5. Plentiful. "He who sows sparingly shall also reap sparingly; and he who sows bountifully shall also reap bountifully" (2 Corinthians 9:6); "you will be enriched in everything for all liberality" (2 Corinthians 9:11).

6. Painful. "Beyond their ability they gave of their own accord" (2 Cor. 8:3).

7. Positive. "Not grudgingly or under compulsion; for God loves a cheerful giver" (2 Cor. 9:7).

Exercise: Go through this list of seven p's and evaluate your program of

sharing in the light of each. Where do changes need to be made?

 

Debt

The Problem of Enslavement

The world and national economies are plagued by the twin problems of inflation and instability. In the ten-year period from 1974 to 1984, government debt increased 190%, business debt increased 188% , and individual debt increased 173%. On every level, individuals and institutions are borrowing money at unprecedented rates and becoming enslaved to burdens of debt they cannot pay back. With national and corporate debt at approximately one trillion dollars each and private debt at the three-trillion dollar level, interest payments are intolerable.

It has been said that "The modern American is a person who drives a bank-financed car over a bond-financed highway on credit-card gas on his way to a open a charge account at a department store so he can fill his savings-and-loan financed home with instalment-purchased furniture." The bondage of debt produces personal stress and interpersonal tension, and it is not surprising that financial problems are a major contributing factor to divorce. It is as though the wedding vows have been changed to "till debt do us part."

Wants Versus Needs

Borrowing has become a way of life in America. Our culture is riddled with materialism, and it is a rare Christian who is not tempted to live beyond his means. If like everyone else, we succumb to the value system that tells us that more is better; our expenditures will rise to meet our income and tend to surpass it. The whole system of commercials and advertisements is designed to create a sense of dissatisfaction with what we have. As a result, contentment is replaced by covetousness as we fail to distinguish our wants from our needs (Phil. 4:19) or rationalize our wants into needs.

Because of these attitudes and the unparalleled ease of getting credit (Americans have over 600 million credit cards); we allow debt to gradually accumulate by buying now and paying later. Instant gratification is so readily available that many Christians find it easier to trust credit than God in the area of material things. They put themselves in impossible financial positions and then ask God to bail them out when they are on the brink of disaster.

 

As someone put it, "It's not the high cost of living; it's the cost of high living." The average family's ambition is to make as much money as it is spending. With interest rates as they are, those "easy monthly payments" are not so easy.

Old Testament Principles

The Scriptures consistently tell us to avoid the debt trap. "The rich rules over the poor, and the borrower becomes the lender's slave" (Proverbs 22:7).  "The wicked borrows and does not pay back, but the righteous is gracious and gives" (Psalm 37:21). Borrowing and lending were allowed but controlled by the Mosaic law (Exodus 22:25; Deuteronomy 15:7-8). Interest could be charged from foreigners, but not from fellow Israelites (Leviticus 25:35-37; Deuteronomy 23:19-20). Collateral could be taken as a pledge of repayment, but this was strictly limited (Exodus 22:26-27; Deut. 24:6, 10-13, 17). To prevent excessive indebtedness, all debts incurred by Israelites were remitted on the seventh (sabbatical) year (Deuteronomy 15:1-3).

The wisdom of Proverbs is strongly opposed to co-signing loans by pledging one's assets against another's debt. "A man lacking in sense pledges, and becomes surety in the presence of his neighbour" (Proverbs 17:18). "Do not be among those who give pledges, among those who become sureties for debts. If you have nothing with which to pay, why should he take your bed from under you?" (Proverbs 22:26-27).  Few co-signers plan to pay another's debt, but about 50% are forced to do just that. See Proverbs 6:1-5; 11:15; 27:13.

New Testament Principles

The New Testament teaches that we are not to become enslaved to debt.  "Owe nothing to anyone except to love one another; for he who loves his neighbour has fulfilled the law" (Romans 13:8). God wants us to be free to serve Him first, but to the extent that we are indebted to men, to that extent we are under their dominion and entangled "in the affairs of everyday life" (2 Timothy 2:4). "You were bought with a price; do not become slaves of men" (1 Corinthians 7:23; cf. Matthew 18:23-34).

When We Can Owe Money

This is a debatable issue, but most Christian investment counsellors believe that there are certain circumstances in which it is legitimate to borrow money.  Some limit this to appreciating assets or assets which produce an income.  Another common criterion is that the value of the asset should equal or exceed the amount borrowed to obtain it.  The clearest criterion is the ability to repay without straining one's budget.  Loans for a house, business, and education usually meet the first two criteria, but not always the third. And even if all three conditions are fulfilled, this does not mean that a loan is appropriate in every case.

Getting Out of Debt

When you are unable to pay an entire billing on an account or if the amount you owe on an item exceeds its asset value, you have joined the debt set. In his book, Your Money: Frustration or Freedom? Howard L. Dayton, Jr. has suggested eight steps for getting out of the entrapment of debt:

1. Establish a written budget. A budget allows you to analyse where you are, to

plan where you want to go, and to control impulse spending. Few people who follow a written budget get into financial trouble.

2. Make a list of all your assets, including cash and assets easily convertible to cash, real estate, automobiles and other personal property, investments, and receivables. Evaluate each of these to see if there are any you can sell to cut your indebtedness.

3. Make a list of all your debts. Most people do not know what they owe.  Write down the monthly payment, the interest rate, and the balance due. The goal is to pay off the items that have the highest interest rate first.

4. Establish a repayment schedule for each debt you have. Include the creditor, monthly payment, months remaining, and balance due. This requires discipline and effort, but it's worth it. It is encouraging when you can tear one of these schedules up.

5. Consider possible sources of additional income to get out of debt more quickly. The only ways to get out of debt are to reduce spending and/or increase income. If you find a way to supplement your income, be sure to use it to retire debt and not to spend more.

6. Accumulate no new debt. You might consider doing "plastic surgery" on your credit cards.

7. Be content with what you have. Since advertising is designed to create a lack of contentment, try to expose yourself less to the temptations caused by television commercials (about 26 an hour), newspaper and magazine advertisements, catalogues, and window shopping.

8. Don't give up. It may be a long and hard road to "D" day (debtless day)--perhaps 3, 5, or 10 years. You will often want to quit or delay your program because of the major reversals of lowering your standard of living and paying off the principal and interest that you owe. But the joy and freedom when you arrive is worth the struggle.

Prayer:

> Pray that God will bring healing and wholeness to those in the congregation who are suffering.

> Pray for opportunities for you to spread God’s Word among your community, ie your neighbours.

> Pray that you are open and willing to carry out God’s will in your life.