Major Mistakes We Make With Our MONEY
A man in a bar sees a friend at a table drinking by him self. Approaching the friend he comments, “You look terrible, what’s the problem?”
“My mother died in June,” he said, “and left my $15,000.”
“Wow, I am sorry to hear that,” the friend replied.
“Then in July, my father died leaving my $50,000,” the man said.
“Wow, Double tragedy, I can see why you are really hurting,” the friend mentioned.
“And last month my aunt died and left me $10,000,” the man said in tears.
“I don’t know what to say, three tragedies so close together,” the friend said as he put his arm around the man’s shoulders.
“Then this month,” continued the man, “NOTHING!”
INTRODUCTION
Malcom Forbes
Failure is success if we learn from it
My idea of a good education is learning from someone else’s mistakes!
I have heard about my Grandfather’s mistakes, I talked to my dad about his mistakes. I have made some myself. We all will make mistakes with money. The goal in talking about mistakes with our money is to spare you from making them. If I spare you from making just one or possible two mistakes – that would be awesome! That’s my goal.
Messages from the pulpit need to lift us in our understanding of spiritual principles. They also need to address the issues of life. I have never impressed an unbeliever with my understanding of justification or atonement, but they are all ears when you tell them you can help them dump 10,000 dollars of debt in a year.
Money is a huge deal in everyone’s life. And God’s Word teaches us a lot on this subject. I learned more in church about how to handle my personal finances than I did in 4 years of accounting in college.
I learned that God’s Word will only work if I work it. But that His Word will work against me if I don’t.
My desire is to see you walking in victory in every area of your life. There are so many who are really struggling and hurting because of money today – I want to throw a life preserver to those who are drowning.
In a survey in a Worth Magazine poll, couples surveyed said the number one thing they fight about is money and 56% think more often about money than sex. Whoa you know that is serious. I wonder if they surveyed any guys?
1. Instead of Russian Roulette you Play American Too Much Debt
(Illustrate with Chains - wrap around wrist)
a. A young man graduates from high school and there now comes his inalienable rights. He has to have stuff. So he goes out and starts his stuff quest.
i. The first addition to his life is music. We know that’s what makes the world go round and it has to be loud. So off he goes to some discount store looking for bass galore and he comes home with packages in hand and a contract he really doesn’t understand. (Wrap around one arm)
ii. His next area of his life that is very incomplete is his transportation. All he can afford is a shake, rattle and roll, but he really looked good in a Nissan Patrol. He was well on his way to being complete. Completely tied up that is. (Wrap chain around other wrist)
iii. His job wasn’t helping meet his daily needs so off to college he goes with greed. Money is not a problem, Student loans are offered to him. (Wrap chain around one leg)
iv. All I now he needs a house. He is making $50,000 thousand so he can afford that $200,000 house with little to no money down. (Put chain over the back of your neck)
b. I don’t know about you, but it is a little hard to get around like this. Debt is not freedom it is bondage.
c. 52 % of marriages end in divorce and 90% say the main reason is $$
d. Romans 13:8 (MsgB) Don’t run up debts, except for the huge debt of love you owe each other…
e. Proverbs 22:7 The rich rule over the poor, and the borrower is servant to the lender. NIV
f. A man often walked through a cemetery on his way home. One night, though, unaware that a new grave had been dug in his path, he tumbled in. For some time he struggled to get out of the 7 foot deep grave, but finally gave up and settled down for the night.
An hour later, a farmer out possum hunting came walking through the cemetery and he too fell into the grave. He began a desperate attempt to get out, unaware that there was anyone else in the grave. The first man listened to him for a few minutes, then reached over in the pitch darkness and laid a hand on his shoulder. "You can’t get out of here," he said... but he did.
2. Get Rich Quick
a. Thinking a “system” will work for you - If you don’t know what I am talking about – good for you. But some do. They have devised or learned a system to get rich. Many times this terminology is used for gambling. Playing Blackjack, poker, or any other game to get rich is a major mistake. Why do you think Casinos are in business? Because they win – not you!
b. You don’t do this, but you buy lottery tickets. 82 percent have – Henry Fielding said, “A lottery is a tax on all fools in creation.” He was right. You don’t see wealthy people playing the lottery – why? Because they know it is a terrible waste of money. Lotteries literally play on the lower income. Don’t be their sucker. A little murder is not ok, a little adultery is not ok, why it a little gambling ok? If you want a better deal, give it to me and at the end of the year I will give you $200. That’s stupid, why would you give me $365 to have me give you only $200? Exactly!
c. It’s not the 11th commandment and I can’t give you a scripture that says thou shalt not gamble. But the itch to get rich is wrong. To believe in luck is to disbelieve in God. I heard of a woman who brought her can of tuna fish every time she played the slots. We have reduced our God to a dead fish. Talk about a bad bet. God controls - not luck.
d. Isaiah 65:11-12 What will I, the Lord, do if any of you reject me and my holy mountain? What will happen to you for offering food and wine to the gods you call “Good Luck” and “Fate”? Your luck will end! I will see to it that you are slaughtered with swords. You refused to answer when I called out; you paid no attention to my instructions. Instead, you did what I hated, knowing it was wrong.
e. Day Trading – I believe Dave Ramsey said over 90% lose money and not just a little – but a lot. When we want to short circuit the process of earning wealth, we usually end up paying for it.
f. I have seen so many people lose money over the idea of getting rich quick. If it sounds too good to be true – it is.
g. 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 and make them evil-minded and finally send them to hell itself. TLB
h. Give us this day our daily bread and bless this roll of the dice so I don’t have to pray for the next 10 years.
3. Don’t Save
a. The world can be divided into those who believe in saving for retirement and those who believe in the Retirement Fairy.
b. We will not be able to do the same kind of work at 65 that we did at 25, but that doesn’t mean we have a right to lay on the beach for the rest of our lives. Our society is way out of balance – 62-65 year-olds is too early for retirement. We need to save for our later days to make up for lower income, but don’t stop working – transfer. If you have enough saved that you don’t need to work, do what Joanne’s parents do. They volunteer for different ministries. Oh, by the way, I hope you aren’t just depending on social security.
1937 – 17 pay in for each 1 drawing out
1967 – 13 pay in for each 1 drawing out
1997 – 5 pay in for each 1 drawing out
2007 - 2 pay in for each 1 drawing out
A better name for it is social insecurity.
c. Proverbs 13:22 A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous. NIV
d. I have good news and bad news. Which do you want first? The good news is you have a great chance of living until you are 75. The bad news is you have a great chance of living until you are 75. The only difference is what you are doing today for that fact. Are you saving?
e. Let’s see how this work – if you put 50 a month and get 6% and you do this for 20 years. You will have put in 12,000 and have 23,000 to take out. Now if you up that to $100 and you find a better return of 9% - you will put in $24,000 and have $66,000 in 20 years. Now let’s say you are 40 today and you put in $200 a month you decide to wait for 30 years at 9% you will have $363,225 – combine that with paying off your home and social insecurity and you may be ok
f. If you are 40 today and you don’t save – pray that Jesus comes back soon. And if he doesn’t, you may want to move to Florida because living out of a cardboard box is a little warmer.
g. Don’t squander your future for a stereo, tv, and other non-essentials today.
h. Are you saving money today or do you believe in the retirement fairy. Remember the world can be divided into these two categories.
4. Being Lazy
a. The hands of the diligent shall produce wealth, while the lazy shall pay taxes. (Jewish Rabbi’s translation of Proverbs 12:24)
b. Wealth is 10% inspiration and 90% perspiration
c. Proverbs 10:4 Lazy men are soon poor; hard workers get rich. TLB
d. 2 Thessalonians 3:6-10 (MsgB)
i. Our orders—backed up by the Master, Jesus—are to refuse to have anything to do with those among you who are lazy and refuse to work the way we taught you. Don’t permit them to freeload on the rest. [7] We showed you how to pull your weight when we were with you, so get on with it. [8] We didn’t sit around on our hands expecting others to take care of us. In fact, we worked our fingers to the bone, up half the night moonlighting so you wouldn’t be burdened with taking care of us. [9] And it wasn’t because we didn’t have a right to your support; we did. We simply wanted to provide an example of diligence, hoping it would prove contagious. [10] Don’t you remember the rule we had when we lived with you? "If you don’t work, you don’t eat."
e. The Merriam-Webster Dictionary says that Lazy is disliking activity or exertion. Maybe you were blessed to go to college, but you lost your job. You are waiting for that right job to come along but can’t pay your bills. If you will not consider flipping hamburgers or delivering pizza because you dislike that activity – the Dictionary definition is your lazy.
f. My grand father’s generation would do whatever it took to put food on the table. Laziness can be a form of pride.
g. Gen 3:19 By the sweat of your brow you will eat your food… NIV
h. People who never do any more than they get paid for, never get paid for any more that they do. Elbert Hubbard
For More - see part 2
(Much of this material was taken from the books of Dave Ramsey: Financial Peace, More Than Enough, & Total Money Makeover)
