Wisdom in borrowing | Francois van Niekerk | 8 June 2014
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God promises us the ability to create wealth and also gives us the wisdom we need to borrow wisely so that we can freely serve Him.
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Wisdom in borrowing | Francois van Niekerk | 8 June 2014
- 2. ‘Just as the rich rule the poor, so the borrower is servant to the lender.’
- 3. Truth
- 6. The wiser you are with money, the freer you will be in life.
- 7. Wise debt Unwise debt Property Study loan Start-up finance Clothing Cars Furniture Appliances Luxury items Flashy lifestyle
- 8. ‘If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.’
- 10. Honesty in earning or work Responsibility in spending Wisdom in borrowing Self-control in saving Generosity in giving
- 11. Borrowing money for daily needs Using credit cards to settle debt Debt to support identity and image Borrowing at high interest rates
- 13. ‘Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.’
Editor's Notes
- Sermon: Wisdom in borrowing Theme: God and gold Date: 8 June 2014 – morning service Preacher: Pastor Francois van Niekerk Introduction God promises us the ability to create wealth (Deuteronomy 8:18). I believe this promise includes His wisdom when borrowing. This is much needed as statistics show that more than 9.5 million South Africans are over-indebted. Scores of people struggle to repay what they have borrowed and regret that they ever did. Credit and debt have long-term effects on our lives, and the Bible makes a strong statement regarding borrowing:
- Text: Proverbs 22:7 (NLT) ‘Just as the rich rule the poor, so the borrower is servant to the lender.’ (Emphasis added)
- Main points Kingdom truth: freedom to serve It was for freedom that Christ has set us free! ‘It is for freedom that Christ has set us free. Stand firm, then, and do not let yourselves be burdened again by a yoke of slavery.’ Galatians 5:1 (NIV) But this is not where it ends – it is not just a matter of being free, but being free to serve God’s purpose and will for our lives. This includes serving others. ‘You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the sinful nature; rather, serve one another humbly in love.’ Galatians 5:13 (NIV) How sad to see people who were set free by Jesus, sell themselves into slavery again by unwise borrowing. Where do we find the answer for this? I believe it is in true partnering with the Holy Spirit who is also called the Spirit of Wisdom. Partnering with Him will result in decisions that lead to true wealth and freedom.
- I encourage you to partner with God’s Spirit of Wisdom, step away from independence and ask for His guidance. Don’t make important decisions about going into debt and borrowing without consulting Him. His advice will keep you blessed and free. Value your freedom! It has a godly purpose and a reward. The purpose is to serve others and demonstrate God’s goodness and character. The reward is wonderful peace. Stay free or work toward freedom so that you can serve God and not your debt.
- 2. Value: godly wisdom
- The wiser you are with money, the freer you will live – free to pursue God and follow His purposes. Surprisingly, godly wisdom employs common sense. When it comes to borrowing money, common sense is your greatest friend. Wisdom and common sense tell you not to fall for unrealistic or empty promises such as lowest interest rates, large profit – no risk or double your money in 30 days, etc. When it sounds too good to be true, it probably is! God’s wisdom will help you discern between wise debt and unwise borrowing.
- Wise debt (borrowing that can produce long-term benefits): A bond to buy property. A study loan. Start-up finance for a well-researched business backed up with a good business plan. Unwise debt (expendable or short-term items): clothing, cars, furniture and appliances, luxury items such as jewellery, and supporting a flashy lifestyle.
- God offers us a blank cheque when it comes to wisdom, but we have to ask for it: ‘If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.’ James 1:5 (NIV) Use the wisdom God provides to make careful decisions about money matters and protect yourself from excessive debt traps.
- 3. Behaviour: borrowing A quick recap on the five values we are encouraged to pursue for true wealth creation, and the corresponding patterns of behaviour that go with them:
- Honesty in earning money or work. Responsibility in spending. Wisdom in borrowing. Self-control in saving. Generosity in giving. Let’s focus on our behaviour around borrowing or making debt. It is relatively easy to make debt in our society, resulting in many people being over-indebted or enslaved to debt.
- Any of the following are cause for concern and should be considered debt danger signs: Borrowing money for daily needs like food and transport. Using credit cards to settle other debt (cross payment – shifting money around to keep debt collectors off your back). Making debt to support your identity and image. Borrowing money at exorbitant interest rates. The question is how to get out of it. The answer is to tackle the debt giant head on! Debt relief starts with an honest assessment of how you are living – taking stock of your lifestyle and being willing to make adjustments. Cut spending and budget properly. Resist the pressure of immediate gratification. Learn to be patient and tame your wants. Buy only what you can afford, not what you can pay off at outrageous interest rates.
- That is a hole that only gets deeper and deeper. As far as you can, make your motto, ‘I don’t do debt’. Where you have no other option than to borrow (wise debt), make sure you know and understand all the repayment conditions. Borrowing must include a realistic plan to service your debt properly. Assess your debt, gain wise advice and put a plan in place to move you toward debt relief. Usually this calls for a medium to long-term plan. There is no quick fix! For practical advice on becoming debt free, don’t miss our GOD AND GOLD seminar on 22 June after the first morning service (40 minutes). Look for alternatives to borrowing money. Consider my advice in the previous message to put your spending and borrowing under God’s guidance (http://www.hatfield.co.za/1-june-responsible-spending/). Ask God’s permission before you borrow. Trust God to show you ways to increase your income. Be sure to dedicate any extra money you make to pay off your debt as quickly as possible. Let’s strive to live in line with God’s Word:
- ‘Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.’ Romans 13:8 (NIV) If you are in a crisis and can’t service your debt – borrowing more to pay what you already owe – then talk to your pastor who will refer you to a debt counsellor. It will mean that you have to engage with your debtors in a practical way, but with support. Don’t ignore it or run away, it will only make things worse. Application Have you made unwise decisions in borrowing? Are you enslaved to debt or has your debt impacted your freedom? There is hope. Not by a quick fix, but by the wisdom of the Spirit, taking corrective steps and sticking with them.