EXODUS = departure or exit
I want to use this story as a metaphor to journey out of financial slavery
I want to see the people of God depart & exit from financial bondage
Egypt = limited – narrow place
Exit out of stinking thinking
o Not asset / it’s attitude
While we are waiting for streets of gold
o Praying; Lord help me pay this bill
Versus
o Praying; Lord help me be prosperous
The lie of the enemy / through the systems of this world
o Is to stay a slave
o And become satisfied
o With just getting by
Let’s determine we’re not going out empty handed.
The enemy stole my family’s wealth
o Now I am ready to exit poverty thinking
o And I am not leaving empty handed
Because we can’t finance the Gospel or build our platform broke!
Matthew 28:12
When the chief priests had met with the elders and devised a plan, they gave the soldiers a large sum of money
The world will spend a large sum of money to tell a lie
o Because they will finance their platform
Spending billions of dollars looking for life on other planets
While we won’t spend money on saving lives on this planet!
A. SLAVING
The story starts with them as slaves
Exodus 1:8-11 (READ)
The people of God
o Were more powerful
o Yet
o The enemy oppressed them
We love the fact that we are New Testament believers and are free
Yet, in the arena of finances, many of us are still in Egypt
Letting Pharaoh’s Visa get rich off of our money
o It is our money because of Joseph (Jesus)
We have become slaves to the Pharaohs of this age called financial institutions.
We can’t get away to go worship God for a three day conference
Proverbs 22:7
The rich rule over the poor, and the borrower is servant to the lender.
We’ve become slaves to debt
Debt isn’t the problem – it’s the symptom
o Greed
o Self-indulgence
o Impatience
o Fear
o Self image
o Lack of self worth
o Lack of self discipline
Different Kinds of debt:
1. Credit Card
2. Consumer debt
a. Cars
b. Furniture
c. Consumption of depreciating items
3. Mortgage debt
4. Investment debt
a. There’s always a ‘good deal’
b. No one ever wants to sell you a bad deal
5. Business debt
6. National Debt
$20,000 for every man, woman and child
1 million per day
It would take 13,500 years to pay back
Assuming there is no interest
o Which there is
Example 1 – New Car
New Car $10,000.00
Monthly Pay 12.5% $265.80
Amount Paid 4 years $12,758.40
Dealers make more if financed
Now, if you purchase another car in four years and again finance it
And continue to do this over a working life of 40 years…
You will have purchased ten cars
And paid in car payments:
$12,758.40 x 10 = $127,584.00
The bank received $265.80 per month for 480 months and never had at risk any more than $10,000
They in turn reinvested that $265.80 in other loans yielding 12.5%
So that they accumulated $3,641,550.00 on your total payments of $127,584.00!
What if, instead of making car payments…
You paid yourself $265.80 per month…
And were able to invest that payment at 12.5%
Then you would have the $3,641,550.00
o Not the lending institution!
The true cost of driving those cars is $3,641,550.00 not $127,584.00!
Questions to Ask:
1. Does it make economic sense?
• Pay off mortgages or invest
• Buy a business – home
2. Do my spouse and I have unity about it?
3. Do I have spiritual freedom?
4. What personal goals am I meeting?
• School
• Business
• Etc.
5. Do I have the money to pay it back now?
I want to address three traps that we can fall into in indebtedness:
1. Can’t Wait Trap
2. The Comparison Trap
3. The Accommodation Trap
1. CAN’T WAIT TRAP
• I must have it now. Instant gratification.
• We’re used to getting dinner in 5 minutes.
Microwave
Drive through windows
• We have restaurants inside of our shopping centers where while you’re shopping you can be served your food.
• You can get a discount if you use your credit.
• Today, we can shop by internet, we don’t even need a store, or money, or a car.
• All we need is a catalog, a telephone and a credit card.
• Internet purchases have gone into the billions of dollars
Once patience was considered a virtue, but in our present buying heaven, it’s a vice.
We have got to have the Fruit of the Spirit, self discipline, self-control
Many people need to have plastic surgery.
Get rid of their plastic, throw away their credit cards.
Some say, well, we can’t live in this society without credit cards.
Try what one couple tried, called frozen assets.
o It kept their credit cards in a freezer
o Frozen in a bowl of water.
o Whenever they wanted to use it
o They would melt it
o And if by the time it was melted
o They decided whether they still wanted it or not
Studies show that people who make cash purchases spend about 30% less than those who don’t.
2. THE COMPARISON TRAP
• Everybody else has one.
• Studies show that buying patterns of those around us determine what we buy.
• What our neighbors and co-workers have, we want. Even if we can’t afford it.
• Keeping up with the Jones’ is more than with keeping up with the neighbor next door.
• For the media exposes millions of us to common life styles of the affluent and fashion – clothes.
• Madison Avenue sells colors, glamour, modern trends.
• None of us can afford these kind of lifestyles, but credit is a great equalizer.
• As long as there is room on the credit line, we can emulate almost whatever we want.
• We forget once again –
Exodus 20:17
You shall not covet anything that belongs to your neighbor.
• I believe it’s a commandment given to us by God for our protection to the comparison trap
• He knew that this trap leads to the bondage of debt.
3. THE ACCOMMODATION TRAP
• It’s when we see advertisements, huge savings on everything you’ve always wanted.
• If you don’t deserve it, who does?
• Now you can afford to be good to yourself.
• You can’t afford to miss this sale!
• The “I deserve it” thought has been a national extravaganza.
• We work hard for our money so we spend money.
• This deals more with an attitude than an amount.
• It’s an attitude that says I’m not satisfied with my possessions, it’s easy to buy.
• When we’re not satisfied with what we have, we will be compelled to give ourselves something else.
• King Solomon said a lot about the accommodation trap.
• After he cried the meaningless of riches, Solomon wrote,
Ecclesiastes 5:18
It is good and proper for a man to eat and
Drink and to find satisfaction in his toilsome
Labor under the sun during the few days of
Life God has given him, but this is his lot.
• The cause of the accommodation trap is dissatisfaction.
• A refusal to accept our basic lot in life. When we’re not thankful for what we have we look for reasons to deserve something better.
Each of these traps has one common denominator. It’s the letter “I”.
o I trouble
o I want
o I deserve
o I need.
o Like a loaded gun, money is a very dangerous thing when it is used improperly.
o But can be awesome and powerful when used properly.
o I trouble can be dealt with spiritually.
B. SAVING
The gold that they had been taking care of was because Joseph made a decision to save for 430 years before
We live in one of the wealthiest countries in the world
Yet, the average American doesn’t have $1,000 in the bank
The typical home saves less than 4% of their income
The Census Bureau says that
o 65% of Americans retire on less than $10,000 per year
Remember:
o Pay God 10%
o Pay yourself 10%
o Pay bills
o Live on the rest
Three Reasons to Save Money…
1. Emergencies
• You should have 3-6 months money at hand
• Money Magazine states that 75% of all families have a financial tragedy in any 10 year period
• Cars break down
• Women get pregnant
• Furnaces go out in January
2. Paying Cash
• Having cash gives you options
3. For Wealth
• I know Christians aren’t interested in wealth
• So, if you’re not - you can give it to me
EXAMPLE: At 20 saved until 60 = 40 years
Only %65 per month at 12% in 40 years = $1,394,555.00
• Everyone knowing this information ought to retire a millionaire
• Who wants to be a millionaire?
See Chart
10% Annual Compounding Interest
Age Ben's Investment Ben's Interest Arthur's Investment Arthur's Interest
22 1,000 1,100 0 0
23 1,000 2,310 0 0
24 1,000 3,641 0 0
25 1,000 5,105 0 0
26 1,000 6,716 0 0
27 1,000 8,487 0 0
28 1,000 10,436 0 0
29 1,000 12,579 0 0
30 0 13,837 1,000 1,100
31 0 15,221 1,000 2,310
32 0 16,743 1,000 3,641
33 0 18,418 1,000 5,105
34 0 20,259 1,000 6,716
35 0 22,285 1,000 8,487
36 0 24,514 1,000 10,436
37 0 26,965 1,000 12,579
38 0 29,662 1,000 14,937
39 0 32,628 1,000 17,531
40 0 35,891 1,000 20,384
41 0 39,480 1,000 23,523
42 0 43,428 1,000 26,975
43 0 47,771 1,000 30,772
44 0 52,548 1,000 34,950
45 0 57,802 1,000 39,545
46 0 63,583 1,000 44,599
47 0 69,941 1,000 50,159
48 0 76,935 1,000 56,275
49 0 84,628 1,000 63,002
50 0 93,091 1,000 70,403
51 0 102,400 1,000 78,543
52 0 112,640 1,000 87,497
53 0 123,904 1,000 97,347
54 0 136,295 1,000 108,182
55 0 149,924 1,000 120,100
56 0 164,917 1,000 133,210
57 0 181,409 1,000 147,631
58 0 199,549 1,000 163,494
59 0 219,504 1,000 180,943
60 0 241,455 1,000 200,138
61 0 265,600 1,000 221,252
62 0 292,160 1,000 244,477
63 0 321,376 1,000 270,024
64 0 353,514 1,000 298,127
65 0 388,865 1,000 329,039
Proverbs 21:20
In the house of the wise are stores of choice food and oil,
but a foolish man devours all he has.
C. SHIFTING
Let’s make a shift in wealth
Be the lenders not the borrowers
EXAMPLE: Hands up
Hands down
Let me talk to you about getting out of debt – a spiritual approach
1. Get God
We need to get God involved in our money. Tithing. Remember
Psalms 24:1
The earth is the Lord’s and everything that is in it.
The problem is that people think money is too worldly.
That it’s tainted, well money is tainted…
o …taint yours and it taint mine!
Money issues are important to God. Jesus spoke of them 16 out of the 38 parables.
And God does desire for us to be good stewards as we’ve already learned
2. Get Wisdom
-what do I do with what I got?
Solomon made it clear that we need wisdom before we need money.
For without wisdom we will not properly manage our money.
Proverbs 17:16
Of what use is money in the hand of a fool since he has no desire to get wisdom.
More money is never the solution to a financial problem.
If you can’t handle what you already have, what makes you think you can handle more?
Proverbs has three key statements about wisdom with money:
1. Wisdom is better than your investments - - Proverbs 3:13-14
2. Wisdom is the best thing to buy - - Proverbs 3:15
3. Wisdom is worth buying even if you have to spend all your money to get it - - Proverbs 4:7
3. Get Real
Debt is serious business
Admit to yourself that you have a problem with spending.
Get rid of credit cards
Having a big credit line is not financial freedom, it’s bondage.
Get out! Once you get real and admit you’re in debt…
Proverbs 27:12 says that:
The prudent see danger and take refuge. But the simple keep on going and suffer for it.
Seven Step Debt Reduction Plan:
1. Try to determine the source of the problem
• Figure out the source of the problem.
• See where you you’ve gone wrong.
• See if you have wrong disciplines, if you’re impulsive
2. Find support
• If you’re married (talking with your wife) have a family discussion and discuss the sacrifices that need to be made.
• Create a spirit of teamwork between husband and wife.
• Stop using credit cards unless in an emergency
3. Create a spending plan
• Predetermine where you want your money to go.
• It’s a little different than a budget
• A budget says what you can’t spend.
• A spending plan says what you can spend.
• Know the difference between needs, wants and desires.
• Needs are those things that are essential to living.
• Wants are the choice about the quality of the needs and
• Desire is everything else.
• A spending plan is more active than reactive.
• You spend on the things that are the most important to you.
4. List all your debts
• Define the problem
• List each one of your loans
o How much you owe
o The minimum monthly payment and
o The interest rates for each loan
5. Be ready for a lifestyle change
• Try to create a spending plan that has no more than 70% of your take home income going into daily living expenses
EXAMPLE: Don’t let what you can’t do stop you from what you can do.
On a practical level, even $25 a month can make a difference.
If you have a $5,000 credit at 21% even $25 can make a difference.
Paying an extra $25 each month will pay the loan off in less than 9 years instead of 25 and will cost $8,800 instead of $13,000
• In the lifestyle change, you have three choices:
o Reduce your debt
o Increase your income
o Or spend less on your present lifestyle
6. Consolidate several debts
• Now there is a danger to this, but bill consolidation can help you keep things a little more manageable, more focused
• But remember, you can’t borrow your way out of debt.
• It makes you feel like you have more money,
• But you need to make sure you don’t use your extra money to get more in debt.
• Unfortunately, about 80% of people that consolidate loans wind up deeper in debt.
7. Use special money to pay off debt
• Bonuses
• Overtime
• Birthday money
• Garage sale money
• Side job
• Whatever – use those toward debt retirement.
