30 May Sunday School Notes: November 25, 2018
SIX DANGERS SIGNS THAT YOU ARE IN A DEBT TRAP
I. LIVING ON CREDIT INSTEAD OF PAYING CASH.
- Delaying payments or only paying the minimum payment.
III. UNABLE TO TITHE AND SAVE MONEY.
IV. UNABLE TO PAY TAXES
- EXTRAVAGANT SPENDING.
- ALWAYS LOOKING FOR GET RICH QUICK IDEAS.
1 Tim. 6:9, “But people who long to be rich soon begin to do all kinds of wrong things to get money, things that hurt them…” (TLB)
GOD’S STEPS FOR GETTING OUT OF THE DEBT TRAP
1. COMMIT TO BECOMING DEBT FREE NOW.
Ps. 37:21, “Evil men borrow and ‘cannot pay it back!’ But the good man returns what he owes with some extra besides.” (TLB)
Luke 16:12, “And if you are not faithful with other people’s money, why should you be entrusted with money of your own?” (TLB)
- START PAYING GOD AND YOURSELF FIRST.
The 10/10/80 principle.
- LIST ALL YOU OWN AND ALL YOU OWE.
Prov. 18:13, “What a shame‑‑ yes, how stupid!‑‑ to decide before knowing the facts!” (TLB)
- HAVE A SALE.
- SET UP A REPAYMENT PLAN.
- ADD NO NEW DEBT.
- SHARE YOUR PLAN WITH YOUR CREDITORS.
Prov. 16:7, “When a man is trying to please God, God makes even his worst enemies to be at peace with him.” (TLB)
8. STICK WITH THE PLAN
Gal. 6:9, “And let us not get tired of doing what is right, for after a while we will reap a harvest of blessing if we don’t get discouraged and give up.” (TLB)