Bible Study

Title: The Dangers of Debt
Date: Aug 10, 2005

Scripture: Proverbs 22:7, Hebrews 13:5

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Are you a little short on cash this month? No problem; put it on plastic. Needing a little getaway but really can't afford it? Just charge it.

Are you finding that you use credit as a way to get what you want with no waiting? Many people are, and as a result the average credit cardholder has an outstanding balance of over $4,000. If you were to pay just the monthly minimum (usually two percent of the balance) and charge nothing else, the interest itself over the payoff period would more than double the original amount owed.

What Does God Say?

"The rich rules over the poor,
And the borrower is servant to the lender" (NKJV).

• What kind of a relationship exists between the borrower and the lender?
• Draw a picture that illustrates this relationship.
• How does this make you feel about debt?

If you're looking to get out of debt, the place to start is with yourself. By changing your attitudes and desires on the inside, you'll see a radical change on the outside. Let's look at what Hebrews 13:5 tells us: "Let your conduct be without covetousness; be content with such things as you have. For He Himself has said, 'I will never leave you nor forsake you.'"

• According to this verse, the opposite of contentment is ____________. (Look up in the dictionary what this word means.)
• The key to contentment is experiencing Jesus' presence in your life. List two ways in which you can increase the sense of Jesus' presence.

My Thoughts

How do you think being aware of Christ's presence in your life might change your spending habits?

My Part

Credit is not bad in itself. Some large ticket items like a home or a car can't be paid for in cash. But if you find yourself snowed under with debt, it's time to take action. Consult a reputable debt management counselor for help in dealing with past debt. Create a budget that allows you to live within your income. Allow Christ to have control of your spending on a daily basis.

Additional Scripture to read: Luke 3:14, Philippians 4:11-12, 1 Timothy 6:6-8

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