OPEN: I have a quiz for your today (I found this at two different sermoncentral sermons and I don’t know who to it credit to):
1. Ellen is 30 years old. She has a $3,500 balance on her Citibank credit card at 18% interest. She makes the minimum payment each month. How old will she be when her credit card paid off? [70 years old]
2. Susan and Tom needed a new washing machine, so they went to Sears and found one for $299. They got a Sears charge card and made the minimum payment each month. By the time the washing machine was paid off, how much did Susan and Tom actually pay for that washing machine? [$1,199]
APPLY: Debt has become as American as apple pie.
According to one bank’s research of 1996 applicants for home loans, they found that:
· 90 % of applicants had a minimum of 4 credit cards
· 3 of the 4 cards were at the maximum allowable limit
· 82 % of the applicants had 2 car payments; the average payment was $326 for 48 months
· 70% of all applicants showed some late payments on their credit reports
· When faced with the decision to keep a new car or sell it in order to qualify for a home loan, 50% of young adult 1st time home buyers chose to keep the car and continue renting
· and 32% of the young adults applying had overdrawn their checking account less than 90 days prior to the date of application
(source: Bob Russell, preaching minister at the SouthEast Christian Church in Louisville, KY)
ILLUS: It reminds me of the true story a meat store owner told some time back:
The owner said: “one day a customer informed me she had gotten some unexpected money and wanted to fill her freezer. She picked out about $200 worth of meat and handed me her credit card."
Laughing, the owner said: "I thought you got some unexpected money."
"I did," she replied. "They raised the limit on my credit card."
Debt, it would seem, has gotten out of control in America.
I. But, some debts are not bad things.
As I was preparing for today’s sermon, I struggled with this strange reality. Some debt is not a bad thing. In our society, given the low rates of interest, buying a house is usually a better investment of our money than renting. But unless you have a sizable amount of money in your back pocket buying a house requires us to borrow money. And there’s not a thing wrong with that.
Buying a car, can also require us to borrow money. BUT if we are careful and buy a good car at a reasonable price within our budget, there’s not a thing wrong with that either.
Borrowing money sometimes makes sense.
ILLUS: Banks will only lend money to creditors who have borrowed money in the past. My dad used to borrow small amounts of money from the bank and then pay it back in a timely fashion - just to establish a credit record … so that when he really needed to borrow money, he could get it
ILLUS: Last month, our 20 year old refrigerator bit the dust. We went down to Sears and bought another one on a Sears Credit Card. Now, you might think, why is Jeff telling us all these terrible things about credit cards and then telling us he just bought a refrigerator at Sears? Well, we bought the refrigerator on a credit card, because they gave us 12 months same as cash. No interest for a year. So, Diana will make regular payments interest free till that appliance is paid off. Debt is not always a bad thing - if you handle it right.
II. But debt that isn’t handled right is a terrible thing.
ILLUS: My dad was a farmer back in the 40’s, and along with other farmers had received a government loan to help out in a bad time. However, the other farmers didn’t pay the loan off when the crops came in, like dad did – and they ended up in worse shape than they were in before.
Many Americans (including Christians) are in serious trouble with their finances partly because they don’t take debt seriously. They don’t seem to realize that debts have to be paid.
Psalm 37:21 tells us: "The wicked borrow and do not repay."
Many people struggle with debt. It affects their marriages, their health, and their ability to even function They have become slaves to their debts
Proverbs 22:7b tells us “..the borrower is the servant of the lender” and that’s what that means: our debts can make us into slaves. Forever working to pay off debts that have put us into a sort of debtor’s prison.
That’s not what God wants for our lives. And as we read through today’s story of the Prodigal Son we find several reasons why we might get into debt.
Reason #1: Debt is often the result of the desire to get what we want NOW.
Luke 15:11-12 “There was a man who had two sons. The younger one said to his father, ‘Father, give me my share of the estate.’ So he divided his property between them.”
Now, when do we usually get an inheritance? When someone dies! Right? But the Prodigal son, didn’t want to wait – he wanted his money NOW.
The problem for many people who get into debt is that they see something that pleases them and they HAVE to have it. They can’t wait. AND they won’t wait.
ILLUS: I once spoke with a water softener representative from a nearby larger city. He’d come to our community to repair one of their units. As we talked, I laughingly commented that it seemed that his company would have a smaller clientele than in that city, what with several large companies employing workers at much higher wages than our town could support. He laughed quietly and then said, no. The fact of the matter was, people in our community usually had better credit ratings than many of those who worked at those large plants.
Astonished, I asked why that would be. "Oh," he said, "when those workers have higher pay checks they feel they have to have a bigger house, expensive cars, boats in the driveway, the best toys for their children – and they go into serious debt to get those extras. Thus their credit is terrible. At times, if his company’s sales people discovered a person worked at one of those large plants - they wouldn’t even bother to go get their applications."
Did you catch that? These workers got into debt because they felt they had to have those extras NOW.
ILLUS: I have often heard commercials from banks and mortgage companies that have literally made me angry: “you can have that vacation you’ve always dreamed of, that living room suite you’ve always wanted, that new garage you’ve meant to have. We’ll lend you the money you need." Yeah, for a fee. "Don’t defer your dream," they tell you, "don’t wait until you can actually afford buy it now!!!"
That’s the kind of thinking that got the Prodigal Son into trouble!
When buying something for your family, you need to ask – do I NEED this, or do I merely WANT it? And whether you need or want something – "can I wait until I can afford it?"
Remember – the Prodigal got into debt because he wanted what he wanted NOW.
Reason #2: Debt can be the result of laziness.
Luke 15:13 “Not long after that, the younger son got together all he had, set off for a distant country and there squandered his wealth in wild living.”
This boy wasn’t there to work – he was there to play. He figured his money last forever – and that’s the way he lived. Why work if I can simply live off my inheritance?
But, God has always had a strict work ethic for His people
Paul wrote: "Make it your ambition to lead a quiet life, to mind your own business and to work with your hands" (1 Thessalonians 4:11).
In fact he told the church at Thessalonica "when we were with you, we gave you this rule: "If a man will not work, he shall not eat." (2 Thessalonians 3:10)
In Proverbs, Solomon warned his son: "Lazy hands make a man poor, but diligent hands bring wealth" Proverbs 10:4
One proverb that comes to my mind whenever I’m tempted to get a little lazy is this one:
"A little sleep, a little slumber, a little folding of the hands to rest - and poverty will come on you like a bandit and scarcity like an armed man." (Proverbs 6:10-11)
Reason #3: Debt can be the result of sinful behavior
“he squandered his wealth in wild living.” Luke 15:13b
The Bible doesn’t tell me what kind of “wild living” the Prodigal engaged in, but in our day sinful behavior is an expensive proposition. Alcohol, cigarettes, lottery tickets, not to mention drugs, sexual promiscuity - they all have price tags. They all cost something. And the money we might spend on these behaviors is money that we could have spent for paying off our debts, taking care of our families, preparing for our retirement, or (most importantly) helping with God’s work and building His kingdom.
Reason #4: What the story of the prodigal Son teaches us is that debt can come about because we are impatient, lazy or sinful. But it also teaches us that debt can come upon us even if we have done nothing wrong.
Luke 15:14 "After he had spent everything, there was a severe famine in that whole country, and he began to be in need."
You don’t have to have a Prodigal personality to get hurt by the unforeseen. Droughts and fires, a tumbling stock market, the downsizing at your place of work that costs you your job, a spouse who dies, or a divorce that destroys not only your family but your finances.
Being in debt isn’t always because you’ve done something wrong.
BUT if you’re in debt, if you’re struggling financially what can you do about it?
III. The Prodigal son did a few things that can help us in dealing with our debts.
1st – He took stock of his situation
Luke 15:17 "When he came to his senses, he said, ‘How many of my father’s hired men have food to spare, and here I am starving to death!
In order to get rid of debt’s power over us, we 1st have to realize that our financial situation needs to be fixed. Our lifestyle has to change/ our way of looking at money has to be repaired.
Up until this point in his life (even as he sat amongst the squalor of the pigs), the Prodigal son hadn’t changed his thinking about his lifestyle. If he’d lived in our day, he might have taken from his meager savings and bought lottery tickets. But, before "he came to his senses" if he’d won the daily “Powerball” jackpot, he’d have gone right back to living the way he always had and eventually (once that money ran out) he’d have wound up right back where he found himself this time.
ILLUS: There are companies out there that will help those in serious debt with a "debt restructuring loan.” What they do is help people put all of their many credit card debts and other debts into one loan at a significantly lower rate of interest. And, if their clients don’t borrow anymore money, in a short period of years, they can climb out of debt. The problem, however, is that many who take out these "restructuring loans" only go out and use more credit cards for more purchases - and they end up in worse shape than when they got the new loan.
That could have happened to the Prodigal as well, but something changed in him. Once he came to his sense and realized he HAD to change his lifestyle, he was on his way to dealing with his debts.
2nd – He swallowed his pride
"I will set out and go back to my father and say to him: Father, I have sinned against heaven and against you. I am no longer worthy to be called your son; make me like one of your hired men." Luke 15:18-19.
That took a lot of courage. AND it took a lot of humility. Many people get into debt – and stay there – because they’re too proud to get help.
o They won’t go to their family
o They won’t approach their church
o They won’t seek out public assistance
o AND they’d never consider declaring bankruptcy
Now, while that may seem noble – it’s not really Biblically sound thinking.
In the Old Testament for example, farmers were to leave some of their crops in the field for the poor to glean for their own families. That was a form of “public assistance.” It was part of God’s plan for His people to take care of the short term needs of the poor.
And bankruptcy? Did you realize that our nation’s bankruptcy laws are based upon the Old Testament Law? Every 50 years (the year of Jubilee) all debts were erased and family land that had been sold, was returned to the original families. It was a Biblical “chapter 11”.
In other words, if you need help financially – there’s not a thing wrong with asking for it. Now, granted, you don’t want to make a habit out of it, but there’s not a thing wrong with getting help when you’re down and out.
So, 1st the prodigal son took stock of his situation
2ndly he swallowed his pride and sought help…
And, lastly, the Prodigal Son returned to His father for His help.
Luke 15:18-23 “’I will set out and go back to my father and say to him: Father, I have sinned against heaven and against you. I am no longer worthy to be called your son; make me like one of your hired men.’ So he got up and went to his father.
“But while he was still a long way off, his father saw him and was filled with compassion for him; he ran to his son, threw his arms around him and kissed him.
“The son said to him, ‘Father, I have sinned against heaven and against you. I am no longer worthy to be called your son.’
“But the father said to his servants, ‘Quick! Bring the best robe and put it on him. Put a ring on his finger and sandals on his feet. Bring the fattened calf and kill it. Let’s have a feast and celebrate.’”
Now most of you probably realized that Jesus didn’t tell His parable about the Prodigal son to teach us about financial responsibility. As important as it is for us who are His children to be good stewards of they money He’s given us, we need to realize that Jesus’ parable of the Prodigal Son, was a story about people who had turned their backs on God. People who wanted to run their OWN LIVES their OWN WAY, without God’s meddlesome interference.
And thru this parable, Jesus was saying that the end result of that rejection of God’s authority in their lives would be ruin - financial and otherwise.
A repeated theme in Scripture is: If you’re going to have any hope of surviving financially in this world – you MUST turn to God. You must allow Him to have control of every part of your life. Then and only then can you relax in the knowledge that He will take care of your needs.
David said: "I was young and now I am old, yet I have never seen the righteous forsaken or their children begging bread." Psalms 37:25
Isaiah comforts us: "Even to your old age and gray hairs I am he, I am he who will sustain you. I have made you and I will carry you; I will sustain you and I will rescue you." Isaiah 46:4
The Bible isn’t promising that we will be the wealthiest people in the land
God doesn’t say that we will always have everything we WANT.
BUT He does promise that if we “seek first his kingdom and his righteousness, and all these things (food and clothing) will be given to you as well.” Matthew 6:33
The things that we NEED will always be available.
CLOSE: Commenting on this story about the Prodigal Son, Bob Russell wrote: “The 1st mistake a lot of us make on the way to financial trouble is overestimating the importance of money. We think money will solve our problems, bring us happiness, buy us friends, or make us important…
When the son ended up in the pigpen, he realized that there were things in life more important than money. I’m sure he wished he could go back and undo all the damage he’d done. Wasting his inheritance, ruining his relationship with his family, and eating with the pigs were high prices to pay for the momentary pleasures money had brought him.”
God’s people have never felt comfortable being in debt – and we never should. But we need to understand, that God never intended money to be the focus of our lives. At one point in His ministry, Jesus said: For what shall it profit a man, if he shall gain the whole world, and lose his own soul? Mark 8:36
Over the arch doorways to the Cathedral of Milan are these three mottoes:
On the left: A wreath of roses with the words “All that which pleases is but for a moment.”
On the right: A cross with the words: “All that which troubles us is but for a moment.”
On the center door: “That only is important which is eternal.”
My point? Until you realize the importance of the eternal, even if you are the richest man on the face of the earth, you will be as destitute as poorest person who has ever lived. That’s why we give a time of invitation…
SERMONS IN THIS SERIES
The Money Trap - 1 Timothy 6:6-6:19
The Envy Trap - 1 Timothy 6:6-6:10
Debtor’s Prison - Luke 15:11-15:24
We’ve Got A Secret - Philippians 4:4-4:19
