What impulse buys tempt you the most? #BSFLre-finance QUESTION 1 BIBLE STUDIES FOR LIFE LifeWay

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1 What impulse buys tempt you the most? QUESTION 1 #BSFLre-finance BIBLE STUDIES FOR LIFE 75

2 THE POINT Avoid financial obligations that could sink you. THE BIBLE MEETS LIFE Impulse buying. Must-have purchases. A good deal. Surely we ve all given in to one or more of these only to experience buyer s remorse. And unfortunately, a lot of us have put ourselves in debt in the process. A young adult sees a sports car he s just got to have. A few months later, his job changes and he needs a more practical car but he s stuck making car payments four more years. An investor convinces his friend to put a large sum of money into a sure-fire real estate venture. The friend takes out a loan, thinking he can pay it off quickly with the return. Five years later, he hasn t seen a dime. At 1:00 a.m., a purchase from a home shopping channel seemed smart, but weeks later, she wonders, What was I thinking? Meanwhile, she still has four easy payments to make. Impulse buys and unfortunate financial choices are nothing new. The writer of Proverbs warned about risky financial agreements or obligations that lead to our own long-term detriment. We must be cautious and careful that our present happiness doesn t result in our future despair. 76 SESSION 2

3 WHAT DOES THE BIBLE SAY? Proverbs 6:1-5; 22:7 (HCSB) 6:1 My son, if you have put up security for your neighbor or entered into an agreement with a stranger, 2 you have been trapped by the words of your lips ensnared by the words of your mouth. 3 Do this, then, my son, and free yourself, for you have put yourself in your neighbor s power: Go, humble yourself, and plead with your neighbor. 4 Don t give sleep to your eyes or slumber to your eyelids. Security (6:1) The individual who put up the security for the loan became responsible for the debt and could have his assets seized to repay the debt if the debtor defaulted. An agreement (6:1) The Hebrew for entered into an agreement can be literally translated struck your palm. This was probably a custom used to make a transaction between two people official. 5 Escape like a gazelle from a hunter, like a bird from a fowler s trap. 22:7 The rich rule over the poor, and the borrower is a slave to the lender. BIBLE STUDIES FOR LIFE 77

4 THE POINT Avoid financial obligations that could sink you. Proverbs 22:7 How much slavery are you carrying? It may sound like a strange question, but it s a biblical one. Look at Proverbs 22:7. When we borrow money, we become a slave to the lender. In 2015, the average debt-ridden U.S. household carries $15,863 in credit card debt, $156,584 in mortgage debt, and $33,090 in student loan debt. Americans collectively owe $11.86 trillion in debt, with $901 billion alone tied up in credit card debt. These numbers are staggering and they depict a nation enslaved. 5 How does debt enslave the borrower? Debt restricts the freedom to give. When debt governs the checkbook, we are limited in our ability to give spontaneously as needs arise. Debt inhibits the ability to save and invest. Debt focuses all of our finances on the present. As a result, we sacrifice future goals, projects, and opportunities on the altar of instant gratification and that momentary pleasure chokes future savings and investments. Debt distorts an understanding of value. Debt feeds our culture s I can have it now mentality. A line of credit allows us to have what we want when we want it. We can feed our hunger with a $1 cheeseburger with the same line of credit we use to pay for a $2,000 vacation. The concept of value is eliminated in the face of instant indulgence. Debt prevents progress. If we begin to accumulate debt, we are in bondage to a vicious cycle. Instead of moving forward when we receive a raise, a bonus, or an unexpected windfall, we are forced to pay down debt rather than progressing in, say, owning a home. Debt feeds a false self-image. Easy credit has fed the lie that you have to keep up with the Joneses. Rather than representing who you really are to the world, you may prop up your imaginary facade with accumulating debt. Why are so many people willing to accept debt in today s culture? 78 SESSION 2 QUESTION 2

5 Proverbs 6:1-2 In Proverbs 6, Solomon gave wise words of warning against financial arrangements that can entangle us in circumstances beyond our control. The idea of putting up security or surety for someone could be described in modern terms as cosigning a loan and taking on the responsibility of repayment, should the other party default. It is wise to avoid entering legal and financial agreements that depend on someone else s faithfulness and risk the ability to make a living for our families and ourselves. Certainly, when examining the whole counsel of Scripture, we recognize that God calls us to support the ministry of the church (Malachi 3:10) and to help people in need (Proverbs 19:17; 28:27) through generous giving. But even if we are making a loan or financial arrangement in the name of ministry, we are not to put the well-being of our personal finances, families, or livelihoods on the line without caution and discretion. Debt puts us in bondage, and we trap ourselves by our own words when we make these types of agreements. The picture Solomon painted was of a fowler setting a trap to catch a bird (6:5). The psalmist warned that our enemies seek to ensnare us (Psalm 141:9), but Solomon admonished that we can also be ensnared by the words of your mouth (v. 2). We shouldn t follow our emotions regarding money. People can twist words and tug at our hearts in order to manipulate situations to their advantage. Do not fall prey to agreements made out of pity or guilt. Our primary obligation is to walk wisely and honorably under the lordship of Christ, trusting His Word and His will to direct our steps. What modern circumstances would connect with these verses? QUESTION 3 BIBLE STUDIES FOR LIFE 79

6 THE POINT Avoid financial obligations that could sink you. "On ly those who try to resist temptation know What can we learn from the imagery in these verses? how strong it is." C.S. LEWIS CHART YOUR COURSE QUESTION 4 James received his first personal credit card in the mail six months ago. He s now spent the maximum amount and is struggling to pay even the minimum payment each month. Based on today s study, how would you encourage James with truth from God s Word? 80 SESSION 2

7 Proverbs 6:3-5 What do I do if I ve made a risky financial agreement? With intense language, Solomon implored us to get out of the arrangement as quickly as possible. Don t hesitate; don t waver; don t think about it too much. Get out! A college student in our church is putting himself through school and struggles to make ends meet. Unfortunately, he fell prey to the deception and cosigned a loan without full knowledge of the details of the contract. Thankfully, the leader of his Bible study group uncovered the specifics of the arrangement and walked the young man through the steps outlined in Proverbs 6. He didn t delay but attacked the issue head-on. He carefully untangled the snare he had set for himself. Here are some wise steps for anyone in just such an entanglement. 1. Act quickly. Don t delay when it comes to getting out of a cosigner agreement. Solomon said we shouldn t even sleep. No bird or animal caught in a trap is going to take a quick nap before he tries to free himself. 2. Work diligently. Push through until a resolution is reached. Every story may not end perfectly, but it should not be because of a lack of effort and persistence on our part. 3. Plead humbly. A humble and gentle spirit will serve better than issuing harsh ultimatums. We should honestly state our regret and humbly ask to be absolved of the arrangement. 4. Learn gratefully. Regardless of the outcome, we should gratefully acknowledge the Lord s goodness in our lives. We re to honor our commitments, learn from our past mistakes, and not repeat them in the future. Let s allow the Lord to use our circumstances to shape us more into the image of His Son. How can obeying the principles in these passages empower us to serve and honor God? QUESTION 5 BIBLE STUDIES FOR LIFE 81

8 THE POINT Avoid financial obligations that could sink you. LIVE IT OUT How will you live out these biblical principles? Practice patience. If you simply can t wait to own the next best thing, spend some time this week praying for patience and contentment. Ask the Holy Spirit to reveal ways you may use your money to honor God instead. Evaluate your financial situation and make a list of all your debt. Identify changes you can make to whittle away the debt so you ll be free to be generous with the resources God has given you. Create and follow a monthly budget. Having a clear plan for your money gives you a realistic view of where your income goes each month, which can curb those impulse buys. Debt has an insatiable appetite; don t fall prey to its allure. Exercising wisdom when it comes to financial obligations allows you to remain in control of your finances and avoid future despair. Learn to make wise decisions as a young adult and you ll establish a firm foundation of money management that ll pay off for years to come. My thoughts 82 SESSION 2