MILLIONS OF AMERICANS TODAY ARE IN BONDAGE! THE BONDAGE OF FINANCIAL CHAINS AND FOR THEM, THE HOPE OF BEING RELEASED IS ALMOST NON-EXISTENT!

 I’m Dennis Finnan, host and speaker on the World, the Word & You! Broadcast and in a moment we’ll talk about the dangers of bondage to the American credit system we all use to some extent and enjoy …

…Let's take a test! I know some of you hate tests, but this one no one will know your answer, except YOU! Are you ready? Here are seven questions. DO YOU….

1.      Pay only monthly minimums or miss or make late payments on your charge accounts?

2.      Consolidate debts by borrowing from other high-interest credit card lenders?

3.      Depend on overtime or moonlighting jobs to cover monthly credit bills?

4.      Find it impossible to save money, or give a tithe of your income to God and His work?

5.      Panic when faced with unexpected expenses, such as car replacement, big ticket house repairs, or emergencies?

6.      Hope that checks you've written don’t clear the bank before your next deposit and  payday?

7.      Borrow from family, friends and relatives to cover basic expenses?

IF YOU'VE ANSWERED "YES" to any of these questions, you are in financial bondage and are headed for serious trouble! So states the "American Consumer Credit Counseling Agency” of Waltham , MA .

These danger signs are rather all too common among American households these days. In fact, here are the latest statistics on credit and debt of the American people in the 21^st century. [1]

·        The average balance on a single credit card is $ 7000.00!

·        The average household has 10 credit cards.

·        Almost 50% of all American households report having difficulty paying their total minimum monthly credit payments.

·        Last year in 2004, over 1.6 MILLION Americans filed for BANKRUPTCY in 2004; Nearly doubling the annual average of 10 years ago!

·        Last year, Americans alone in the world economy, paid out approximately $ 65 BILLION in just credit interest alone!

WOW! That’s terrible, isn't it? Yet these are the facts and it tells a serious and deadly story for most American families. Now in another moment, I'll lay out a practical and biblical plan for what God has to say and what you can do about it. Stay tuned…

…Are you in debt?  Most likely the vast majority of Americans are! But in your debts, do you owe money for which you struggle to pay on a monthly basis? Are you apprehensive about how you are going to do it in future days? Is money an ongoing issue of fights and quarrelling in your home these days? Have you been held back from the best the future has to offer, because you are in bondage to the "Credit Syndrome?" Well, friend, I've got good news for you. There is an answer to this national pandemic, but to find it you'll have to go to God, your Creator and learn what He has to say about it. Moreover, then you'll have to make some tough life choices and follow the Lord and His advice. But one thing I can guarantee you ¾ if you do follow Him, you will, in time, be released from this crushing bondage and its insatiable desires that burn in your soul. So let's get on with it now.

Well first we must admit it, the vast majority of people in this nation are truly "enslaved" to their debts. Such people are in real, dangerous financial bondage. Just how bad is this for our personal and national future? Well to understand this, we should learn some facts and teaching from the Creator of all things, who has spoken on this issue of lending, borrowing and credit. You'll be amazed to hear what God has to say about it too. However, what may be more amazing is

what you must do about it, to be released and set free. So let's begin with some questions and seek some answers…

QUESTION: " What is wealth?"

The usual historical answer is ownership and control of material goods and possessions. However, wealth is also related to our “creative ability” and our “credit or borrowing ability” ¾ which is the trust others have in us to loan money. So wealth then can really be a “positive extension of our personalities”. But in God's definition, wealth is only– “what we have by His given creative ability, and what we do with it while here on earth.” Now here's a second question,

QUESTION: "What is debt or bondage to debt?"

Well, simply from God's perspective, it is when someone has delinquent and binding financial obligations. The operative word is "delinquent" for owing money is not debt, as long as you have the ample ability to repay on schedule, and if you become unable, you have tangible assets to actually pay it off. Now, one of the most common causes of financial bondage and delinquency is the ABUSE of CREDIT! Note what the Bible says here,

Prov 22:7 (NLT)  “Just as the rich rule the poor, so the borrower is servant [slave] to the lender.”

This of course sets the standard of God's attitude toward unnecessary debts as I've just described. When someone borrows beyond his tangible “assets” and normal ability to repay ¾ he has crossed the line and broken God's law for relationships between God and man. For you see, when people do this it is usually because of underlying and sinful reasons. Among them are  ¾ greed, lack of self-discipline, covetousness, get-rich-quick schemes, deceitfulness, and plain old irresponsibility. God further says,

Prov 21:17 (NLT)  “Those who love pleasure become poor; wine and luxury [materialism] are not the way to riches.”

In fact, God has much to say about debts and the wrong use of them. For instance,

Psa 37:21 (NLT)  “The wicked borrow and never repay, but the godly are generous givers.”

Luke 12:15 (NLT)  “… “Beware! Don’t be greedy for what you don’t have. Real life is not measured by how much we own.””

Luke 14:28 (NLT)  “”But don’t begin until you count the cost. For who would begin construction of a building without first getting estimates and then checking to see if there is enough money to pay the bills?”

Rom 13:8 (NLT)  “Pay all your debts, except the debt of love for others. You can never finish paying that! If you love your neighbor, you will fulfill all the requirements of God’s law.”

Indeed, there is much more God has to say, but this surely lets us know the Biblical encouragement for not getting into debt. Now, there are two primary dangers of engaging in debt these days.

1. Debt presumes upon our future which we have no control of.

The bible says in,

James 4:13-17 (NLT)  “Look here, you people who say, “Today or tomorrow we are going to a certain town and will stay there a year. We will do business there and make a profit.” 14 How do you know what will happen tomorrow? For your life is like the morning fog—it’s here a little while, then it’s gone. 15 What you ought to say is, “If the Lord wants us to, we will live and do this or that.” 16 Otherwise you will be boasting about your own plans, and all such boasting is evil. 17 Remember, it is sin to know what you ought to do and then not do it.”

2. It may deny God the opportunities He provides, to work for His glory.

Yes, money entanglements are the demonic entrapments created by Satan to keep God's children out of God's service. I must confess this was my sin before I was saved and for some time as a new believer. Like many in the early 70's, as a young family man and businessman ¾ I got entangled in the "credit syndrome." Oh yes, I was able to pay my monthly credit bills, but only as I worked overtime, and moonlighted to stay afloat. I recklessly purchased everything my heart desired. A newer and bigger home, flashy motorcycles, the latest and most expensive photography equipment, recreational toys ¾ you name it. I was enslaved to debt. 

But then God saved me from my sins and put me on the path to serve Him. However, I realized I could not serve God in ministry, until my debts were paid in full. It took me quite a few years of very hard work and struggle, but before I left for full time service to the Lord, together we paid off every debt! Now I tend to think that before I was saved, I was like most other Americans. I blamed everyone else for my problems. But when I came under God's authority, I realized it was my own greed and lust for things; my own indiscipline and self-indulgence that brought me into the bondage of financial slavery! Through the salvation experience, I came to understand that my happiness, joy and contentment was not truly to be found in the possession of things, but in the possession of God Himself, the Lord Jesus Christ, in my heart, mind and soul. The Bible says,

Prov 15:16 (NLT)  “It is better to have little with fear for the LORD than to have great treasure with turmoil.”

How true I found that to be, and many others can verify. But now, enough of my confessions. How about you? Chances are you who are listening, are either in difficult debt yourself, or you know someone close to you who is. If so, then my thoughts that follow are for both of you. Let's begin by establishing a plan on how to manage asset less debt!

The first thing we must establish is the RIGHT PERSPECTIVE. If you are a Christian listening today, you must first admit…

1. you are a sinner when it comes to the love of money and possessions.

You are either on the road to breaking God's law in such area, or you like most, have already passed that point and are in trouble! Hear God's Word to you now,

Luke 3:14 (NLT)  “…be content with your pay.””

1 Tim 6:6 (NLT)  “… true religion with contentment is great wealth.”

God says we are all to be "content" with the situations of life God has allowed us to be in. It is when we "covet" or lust for more than that we all get into trouble. Unfortunately, we live in a debt driven economy (a calculated system that favors the creditor). This is where our society encourages debt, even perpetual debt by catering to the "I must have it now," and " I deserve that.." This Hedonism has permeated most American lives, Christian or not! Thus, the debtor falls into perpetual economic slavery to the lender. Moses warned of the consequences of allowing oneself to fall into this trap,

Deu 28:43-44 (NLT)  “The foreigners living among you will become stronger and stronger, while you become weaker and weaker. 44 They will lend money to you, not you to them. They will be the head, and you will be the tail!”

Just how bad is it for most Americans? Since the average balance on a single credit card in America is $ 7000.00 here is what you will pay, making only the minimum payment to complete this debt, if you add nothing more to it during this period. Are you ready?

Paying the minimum monthly payment at the average of 12.5% interest, some pay up to 23 %. It will take you 43 YEARS, 8 MONTHS to pay off the debt. And, mind you, you will also have paid $ 15,373.31 in interest charges which is more than twice the balance! This debt has reduced your total lifetime earnings and assets by $ 22,374.00 for a $ 7000.00 loan. And, add to this that most families have an average of 10 credit cards! Do you see the terrible predicament debt causes us all?

How said it is the millions of American are in real servitude, crushing bondage and lifetime financial slavery! How does this affect them? Timothy D. Foster, Ph.D and leading family psychologist says, " of 80% of all divorces, finances are a part of the cause!"[2]

2. LIVE WITHIN YOUR MEANS & STOP BORROWING ALTOGETHER!

As I quoted from God's Word, be content with what you have and life's situations. God is in control of every life, and it is He who gives wealth and takes it away. We must trust that God only means good for us regardless of the circumstance and consequences. Of course, most often when it comes to financial crises, it is caused by us, and the only way out of it is to PAY IT BACK! If you are in debt over your head, and it has become a daily problem that is cutting into your heart and home, you need HELP! The first thing you must do is,

(1) "CUT UP ALL CREDIT CARDS!" and more "CANCEL ALL LOAN ABILITY!" Credit card debt is a national epidemic sweeping the land! I myself confess I personally discipline myself not to have any credit card!  It's too much of a temptation in our debt encouraging society for me! Rather, I maintain a debit card on my checking account so I can purchase necessary items without a paper check. It was only when I showed God I meant business, and cut up those cards, did I take the first step to get out of debt. The second step is also important.

(2) DON’t DELAY, Go get help! I suggest if you are a Christian, to go to your pastor and seek his help and guidance. Most godly servants of the Lord will direct you to a reputable credit counseling services, that will help you manage your debt and strike a plan satisfactory to your creditors and your earning power to get the debts paid off. But as a Christian, make sure they include in your budget and bills the fact that you honor God with your income and set aside a reasonable sum of your "first fruits" of your income to give back to God!

Every believer must be involved in giving "back" to God. In the Old Testament, God expected from Israel a tithe of all income, which came to over 20% of the believer’s earned assets. I believe in the New Testament, God has not established any giving ratios, but certainly the Old Testament teachings, set a principle to begin with. Remember this my friend, Jesus Himself said,

Luke 6:38 (NLT)  “If you give, you will receive. Your gift will return to you in full measure, pressed down, shaken together to make room for more, and running over. Whatever measure you use in giving—large or small—it will be used to measure what is given back to you.””

This is a major biblical principle of getting out of debt. Give back to God what is due in gratitude to Him for His love and salvation from our sins.

Now one you get your debts under financial control. Then,

3. SET LONG AND SHORT-TERM GOALS

There is an old saying "People don't plan to fail, the simply fail to plan." Here's an encouragement. If you didn't have your credit card payment of say $ 350 a month for that new car lease, big-screen digital TV entertainment system, and or RV; and instead you invested that monthly money in a 4-5% investment plan, you could retire in 25 years with $ 242,000! Your credit card payments not only cost you misery today, but YOUR FUTURE TOMORROW! So today, set long-term goals. Try to establish a saving plan and contribute to it each week or month. Yes, it will take discipline but God encourages planning for the future and savings!

Prov 16:3 (NLT)  “Commit your work to the LORD, and then your plans will succeed.”
Prov 13:11 (NLT)  “Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows.”

Mat 25:20-21 (NLT)  “The servant to whom he had entrusted the five bags of gold said, ‘Sir, you gave me five bags of gold to invest, and I have doubled the amount.’ 21 The master was full of praise… Let’s celebrate together!’”

These verses tell us that if we make long-term plans within God's permissive will for us by saving part of our earnings and income, God will make it to grow for us and for His work in future days. Then, we must to remember to  -- Stay within these bounds!

Daily I too have to confess my sinful nature is to desire to HAVE new and better things, most often unnecessary. I must ask myself when I face a purchase: " Is it necessary?  Can I do without it? Does it add to my family relationships or my future security? Will it depreciate quickly? Will it require costly upkeep? and most important  --  Do I have God's permission to buy it?"

If I can get though these stop gap measures and maze of soul reflecting - then it may be right to purchase something. In summary of this,  NEVER MAKE QUICK DECISION PURCHASES! Almost always they will be regretted. God's Word gives good advice,

Prov 21:5 (NLT)  “Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.”

In addition, I must remember God is in control of my life. If I do not see an increase in my income, I must not complain but know God has allowed it. I often remind myself,

Eph 5:5 (NLT)  “You can be sure that no … greedy person will inherit the Kingdom of Christ and of God. For a greedy person is really an idolater who worships the things of this world.”

Along with this, I must often discipline myself to SACRIFICE DESIRES! You see God equates a commitment to riches and possessions as a primary purpose of life, as sin. Now let me say it is not wrong to be wealthy. There are many wealthy people who are in God's perfect will. Poverty is not godliness either! There are many in poverty, who are lustful, greedy, and filled with a spirit of desires!  Well lastly, in how to get out of debt and stay out is to…

4. BEGIN SAVING & INVESTING FOR YOUR FUTURE 
The Bible affirms the work ethic but also the thrift ethic too! If we work hard, save well and invest prudently ¾ God will give us a measure of success!

Prov 12:11 (NLT)  “Hard work means prosperity; only fools idle away their time.”

Those Puritans who followed God were right! Remember, if you save by investment earnings today, beginning at age 25, an hour or less of your daily pay ($ 10.00 an hour a day average), you will be a millionaire 42 years later with $ 1,264,618.00!

This will provide for your old age and also an inheritance for your children.

However, in all this we must not miss what is most important. The greatest investment we can make is not in blue chip stocks, or government tax-free bonds. The greatest investment that pays the highest and most secure dividends for now and the future is to invest your life and soul in the heart of God.

Mat 6:33-34 (NIV)  “But seek first [God]s] kingdom and his righteousness, and all these things will be given to you as well. 34 Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”

God’s kingdom, friend, begins with knowing and receiving Jesus Christ into the heart and life. Remember I told you about my horrendous debts of the early 70's? My debts and the fears it brought me drove me to seek a solution. I found the beginning of that solution in Jesus Christ. I learned clearly that I was a sinner and was unable to rescue myself from present indebtedness, but also eternal indebtedness. The Bible says to all humanity,

Rom 3:23 (NLT)  “For all have sinned; all fall short of God’s glorious standard.”

Rom 6:23 (NLT)  “For the wages of sin is death, but the free gift of God is eternal life through Christ Jesus our Lord.”

We all have a sin debt, that unfortunately none of us can pay for without our soul’s damnation in eternity. Yet God solved this problem by coming to our rescue. The GOOD NEWS of the Bible is God paid the indebtedness of every sinner on the cross at Calvary . When Jesus Christ died, His very last words from the cross were "THE DEBT IS PAID!"

John 19:30 (NLT)  “When Jesus had tasted it, he said, “It is finished!” Then he bowed his head and gave up his spirit.”

The phrase often translated "it is finished," is one single Greek word "tetelastai." It was often used in the commercial marketplace and spoken when a deal was completed, a price arrived at in any purchase. God the Son, Jesus Christ our Savior said before GOD the father, The sin debt of every human being is paid for by Christ's substitutionary death as God planned. But now all that is necessary for us to receive it,  is "accept" it by believing in Jesus Christ. What does it mean to believe? Listen,

Rom 10:9-10 (NLT)  “For if you confess with your mouth that Jesus is Lord and believe in your heart that God raised him from the dead, you will be saved. 10 For it is by believing in your heart that you are made right with God, and it is by confessing with your mouth that you are saved.”

More than thirty years ago, while driving in my car I heard a message similar to this. I pulled over to the side of the road and bowed my head and cried out in my heart.

"Oh God, I'm in debt and I need help. But now I know of a greater debt than my earthy woes. I'm in debt to sin in my life. But you've said in your Word that if I take Jesus as my Savior and crown Him the Lord of my life ¾ you will forgive my sin debt and grant me a clean slate now and forever. Oh God, I accept Jesus into my life. I give Him the right and authority to rule my life from this day forward. I believe now in Jesus and accept His gift of full forgiveness, and eternal life you offer."

Friend, I still remember the inner joy, the peace, the contentment, the fullness and satisfaction of life I received that day which I had NEVER experienced before! It was mine and the good news is I've never lost it, nor has any other believer in Christ. So, time is run out. Turn your financial woes over to God, and then follow these principles and in time you too will emerge from the CREDIT SYNDROME and enjoy the peace of a godly life. May such blessing be yours today for Jesus sake. Amen.

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[1] "Consumer Information on Credit Card Stats," by the American Consumer Credit Counseling, Inc. 24 Crescent Street - Waltham , MA 02453

[2] "Handbook of Christian Counseling," by Dr. Timothy D. Foster, Ph.D. Copyright 1995,  Thomas Nelson Publishers, Nashville , TN.