Psalm 37:21, "The borrower is servant to the lender."

It is one thing to get out of debt. It is quite another thing to stay out of debt. Though the principles regarding each overlap, the application of the principles is somewhat different.

This listing of principles is not designed to be exhaustive; although, it is a setting forth of those things most fundamental to a consistently stable and responsible economic life.

I PRINCIPLE NUMBER ONE: LIVE WITHIN YOUR MEANS.

1. Budget.

1. Lay it out on paper. Don’t show your pride and ego by telling yourself that you don’t need a budget and that you will "just figure it in your head." Be systematic. Do not assume. Look at the facts and figures. Do not assume you can do what is clearly not possible.

2. Calculate realistic anticipated income.

3. Figure expenses.

4. Do not let expenses exceed income.

5. Determine what must be paid or purchased and in what sequence.

6. Allow for miscellaneous items.

7. Live by your budget religiously. Let nothing short of a trumping by the Lord (providence) get you off your budget.

B. Prioritize.

1. Pay bills and make essential purchases first.

2. Do not allow yourself to purchase what you do not have the money to afford. (It is easy to play "mind games" with yourself by saying "I’ll buy it now and pay myself back later.")

3. Develop sales resistance. Wait until you have the money and can afford it without hurting yourself financially.

A. The Bible warns against debt.

1. "The rich ruleth over the poor, and the borrower is servant to the lender," Proverbs 22:7.

2. Though Romans 13:8 is specifically referring to the obligation of each believer to share the gospel message of Christ with all men, it does have financial overtones when it says, "Owe no man anything."

B. Borrowing has many hazards.

1. One hazard of borrowing is its presumption on the future. James warns, "Go to now, ye that say, To day or to morrow we will go into such a city, and continue there a year, and buy and sell, and get gain: Whereas ye know not what shall be on the morrow. For what is your life? It is even a vapour, that appeareth for a little time, and then vanisheth away. For that ye ought to say, If the Lord will, we shall live, and do this, or that," James 4:13-15.

2. Borrowing is especially hazardous when it is for depreciable items and void of collateral.

C. Borrow only when absolutely necessary.

I. Learn to wait. (Isaiah 40:3 1)

2. One may have to borrow in a financial plan to get out of debt, such as in the case of a consolidation loan; but debt freedom should always be the systematic goal.

3. As a precaution, be kind and tolerant of others on this point. They may not have yet learned what you know along these line and their financial activities may involve purposes and designs of which your are unaware.

A. Cash is dangerous.

1. Cash lends itself to impulsive buying. It is so much easier to waste money, violate your budget and ignore sound judgment when you have cash on hand.

2. If you force yourself to go get money for your unplanned purchases, and obligate yourself to discussing potential purchases with your mate before making the purchase, you will be far less likely to make an unwise move and hurt yourself financially.

3. Though pride makes many think they are, very few people are sufficiently disciplined to handle much cash.

4. Cash is also much easier to lose in robberies, thefts and other type of losses.

B. Credit cards are more dangerous than cash.

1. Credit cards are almost as negotiable as cash; and in some cases, more so.

2. A credit card enables the holder to spend far more than he actually has. With cash, the transactions must end when the cash is gone. With a credit card, spending can continue long beyond the end of real money. Furthermore, when one has "maxed out" one card, he can introduce another card and keep spending.

3. Credit cards are built-in, pre-approved credit. They have been one of the chief sources of economic ruin and financial bondage for multitudes of people.

4. Most people should destroy their credit cards, and those who keep them should use them only when funds are on hand to pay the card bill upon receipt.

IV. PRINCIPLE NUMBER FOUR: PREPARE FOR THE FUTURE.

A. Save.

1. If mortal life continues, future needs are a certainty. Periodically, renewable items such as automobiles and appliances will require replacement. Those who do not save will have to go into debt to secure these. No one can reasonably expect to keep from going back into debt, if he does not save for future needs.

2. Paying off indebtedness is only half of the equation. The other half is saving for future necessities. It is very easy to use all the money you have for current uses. Quite often, one will pay off a car or some other item. Instead of saving the freed-up funds to replace the paid-off item once it wears out, the individual uses the newly available funds to elevate his standard of living or to purchase new things. After a while, the car (or other item) wears out. The individual has no money saved up for replacement. Thus, he goes into debt to get the needed item. He really lied to himself in thinking the money freed up by a debt paid off was no longer obligated. It really was obligated; not to a lender, but to himself for the replacement of the consumable item. He should have been saving that money for future replacement rather than stealing from himself by using it elsewhere. Failure here means debt and often economic bondage.

3. The story of the ant in Proverbs 6:6-8 is an undeniable illustration of this truth.

B. Invest.

1. The Bible clearly teaches sound, profit-making investments.

a. "Be not deceived; God is not mocked:for whatsoever a man soweth, that shall he also reap," Galatians 6:7. This passage advocates investment with the idea of an increase in mind.

b. James spoke of "buy and sell, and get gain" James 4:13. In so doing, he was speaking of a Biblically-accepted practice of life; not condemning it. What he did condemn was presumption upon God. He warned of economic activity which forgets God, of those who "buy and sell, and get gain " without remembering that 0it is God who makes it all possible. The process of economic increase works only as a result of the providence of Almighty God. It is not "chance", "luck" or human finesse which does it. God could stop or reverse the process at any time. As Deuteronomy 8:18 reminds, "But thou shalt remember the LORD thy God. for it is he that giveth thee power to get wealth..."

The fact from James is that investing is a Biblically-accepted practice, providing one’s dependence remains on the Lord; not self or fate, and one continues to acknowledge the Lord in all of his prosperity. When James says "if the Lord will" (James 4:14), he brings up he possibility that the Lord may not see fit to prosper every investment. One should be aware that losses can occur and one should not condemn God when such things do occur. God has not promised 100% success in all investments.

c. The story of the talents in Matthew 25:14- 30 is very strong Bible support for investing.

2. Three very important investment considerations.

a. Systematic investing works better for most people than helter-skelter, erratic investments. .

b. Time is a very important ingredient in most investments. A smaller amount invested for a long time generally yields far more than a bigger, short-term investment.

c. Beware of "get-rich-quick" schemes. Occasionally a great, legitimate opportunity for quick and large returns may occur. Be careful; These are very rare and seldom legitimate.

A. Pay your tithes and give offerings.

1. No believer can rob God of His rightful portion and still legitimately expect God’s favor in his finances and long-term prosperity.

2. Malachi 3:8-11 says, "Will a man rob God? Yet ye have robbed me. But ye say, Wherein have we robbed thee? In tithes and offerings. Ye are cursed with a curse: for ye have robbed me, even this whole nation. Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the LORD of hosts, if I will not open you the windows of heaven, and pour you out a blessing, that there shall not be room enough to receive it. And I will rebuke the devourer for your sakes, and he shall not destroy the fruits of your ground; neither shall your vine cast her fruit before the time in the field, saith the LORD hosts."

B. Give to the poor.

I. The Bible says, "He that hath pity upon the poor lendeth unto the LORD; and that which he hath given will he pay him again," Proverbs 19:17.

2. Many poor people are not lazy, nor "deadbeats" They need help.

C. Be a giving person.

1. "There is that scattereth, and yet increaseth; and there is that withholdeth more than is meet, but it tendeth to poverty," Proverbs 11:24.

2. "Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom. For with the same measure that ye mete withal it shall be measured to you again. " Luke 6:38.

D. Don’t be greedy.

1. "Not that I speak in respect of want: for I have learned, in whatsoever state I am, therewith to be content," Philippians 4:11.

2. "And having food and raiment let us be therewith content," I Timothy 6:8.

3. Jesus told the soldiers of Luke 3:14, "Be content with your wages.

4. Greed and covetousness are nasty blights on any person. The 10th Commandment says, "Thou shalt not covet" (Exodus 20:17). Hebrews 13:5 admonishes, "Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee."

VI. PRINCIPLE NUMBER SIX: TRUST GOD.

A. It is a certain fact that no one can maintain financial freedom or strength without Him.

1. "Except the LORD build the house, they labour in vain that build it: except the LORD keep the city, the watchman waketh but in vain," Psalm 127:1.

2. Remember Deuteronomy 8:17-18. "And thou say in thine heart, My power and the might of mine hand hath gotten me this wealth. But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth...."

3. Our prideful hearts make us forget how really dependent upon God we are. We begin thinking we are prospering of ourselves. Self-sufficiency sets in and we trust ourselves and not God.

B. Do not misunderstand what trusting God in financial matters Is.

1. Trusting God is not merely wanting something, shutting your financial eyes and "taking a flying leap" to get it. "Faith" or trusting God is not just believing strongly that somehow God will provide the money for whatever it is that you want.

2. True faith or trust in God is dependence on Him to work through sound, Biblical economic principles. It is a firm belief that He will honor His word and sustain you only so long as there is strict adherence to His instructions on money management.

3. Handle money like He says and He will take care of you one way or another. Ignore what He says about money and you will get into financial trouble, regardless of how much "faith" you have.

4. Real trust in God means living by His economic guidelines always depending on Him to make things work out right.

C. God can and sometimes does trump normal procedures

1. For purposes all His own, He may "bust" you. He may do it to temper and strengthen you. He may do it in order to use you as an object lesson of His grace which sustains in the hour of need. He may use you as an example of how to properly respond under adversity.

2. If God sees fit to bring you through a serious economic trial, He will give you grace to bear it. God gave Paul a "thorn in the flesh" and refused to remove it. But He also told Paul, "My grace is sufficient for thee: for my strength is made perfect in weakness," II Corinthians 12:7-9.

3. If you find yourself in financial trouble, examine the situation carefully. Be sure it is God who put you there; not yourself through violation of sound, Biblical economic principles. It appears that the vast majority of economic woes are self- inflicted by violation of God’s financial principles.