SLIDE 1
1) Lending and borrowing is allowed (Deuteronomy 15:7-8; Psalm - - PowerPoint PPT Presentation
1) Lending and borrowing is allowed (Deuteronomy 15:7-8; Psalm - - PowerPoint PPT Presentation
What does the Bible say about debt? 1) Lending and borrowing is allowed (Deuteronomy 15:7-8; Psalm 112:5; Matthew 5:42) 2) Repayment of debt is required (Psalm 37:21, Romans 13:8) 3) Be cautious about getting into debt (Proverbs 22:7)
SLIDE 2
SLIDE 3
Appropriate debt
- house
- business
- medical bills
- vehicles?
- student loans?
Inappropriate debt
- vehicles?
- student loans?
SLIDE 4
Appropriate debt
- house
- business
- medical bills
- vehicles?
- student loans?
Inappropriate debt
- debt that keeps you
from saving and giving
- consumer debt
(i.e., credit cards)
- vehicles?
- student loans?
SLIDE 5
U.S. Consumer Debt
Definition: Credit card or line of credit debt which is used to fund consumption rather than investment; debt for the purchase of goods/services that are consumable and/or do not appreciate. Consumer debt (March, 2014): $3.4 trillion
SLIDE 6
WHAT SHOULD I DO? Get out of consumer debt (and then all debt) as fast as possible!
SLIDE 7
WHAT SHOULD I DO? Get out of consumer debt (and then all debt) as fast as possible! WHY SHOULD I DO IT? Getting out of debt will set you free! It is an automatic pay raise. It allows you to save more, give more, deal better with “emergencies”…and even spend more.
SLIDE 8
(Besides trying to get out of debt as quickly as possible…)
- 1. Spend less than you earn and keep asking,
“Do I really need this now?”
- 2. If you’re facing financial difficulties, ask for