Talk

The Chain of Debt: Attacking Debt

Louie Giglio

October, 14, 2018

“God wants to cultivate in us a new mindset of stewardship instead of ownership.”

God wants us to live fearless and free, and one of those things is living free from debt. By shifting our mindset away from ownership of our finances, and towards the reality that God has entrusted us to be good stewards over it, we’ll begin to see Him working through our lives in ways we didn’t know was possible.

Key Takeaway

Attacking debt takes time. It may take years, but don't let that deter you. The right seed in good soil, and patience in a season of time for that seed to grow, will grow into a harvest that produces more good seeds to be planted. Debt takes time to pay off, but stick with it and you'll be able to live a generous life.

It's hard to live life to the full if you have no margin and constantly have to look over your shoulder at the banks, creditors, and institutions coming after you.

In 2018, the average American personal debt was: $15,000+ in credit cards, $181,000 in home mortgage, $27,000 in car loans, $46,950 in student loans, and $134,000 in all other debt.

God wants you to live fearless and free, especially free from debt.

The world's mindset: Me, Live, Save, Give.

God's mindset for you: God, Give, Save, Live.

Give- test God in it. Malachi 3:10 says that He will open the floodgates of Heaven and bring you into a lifestyle and mentality of freedom if you trust Him.

Save- the goal isn't to save all you can to live the last 20 yrs of your life doing nothing. Saving allows you to live freely without being a burden, giving you maximum flexibility with a wake of generosity.

You give, save, and live off the rest.

It's all predicated on work. Before there was sin, there was work. It's a gift and giving you something to do! He's given you an ability and skill: it's so God can get the glory.

The reality of the Cross changes everything. When you were dead, He didn't give you just 10% and a few more years to wreck your life. He isn't trying to take your 10% when He already gave you 100%. He saved us eternally, so we could live life to the full while on earth. This should inform your life, as well as your finances. He gave to save me, so I could live. So, I give, I save to have flexibility, so I can live on what's left over. The "leftover" gets bigger and bigger, it works this way in God's economy. You'll be able to give more and more. Eventually, you can give 100%. This is gospel-informed, cross-transformed thinking.

The world doesn't want you in on this! It's spending billions to get you to "buy it" right now and keep you in debt because it benefits them, not you. They are not doing you a favor by offering 6 months interest-free.

How do we attack debt? (See Dave Ramsey)

1) Survey Debt- write out on one sheet of paper all your debt. Large, medium, and small, with interest rates and monthly minimum payments.

2) Budget- this looks at your income over your expenses (including minimum monthly payments for debt).

3) Debt Attack Plan- Snowball Effect (Dave Ramsey). Start after the small debt first, and put all extra money towards that, once that is paid off, you put all of that towards the medium debt, and once that's paid off, you put all of that toward the largest debt.

4) Reduce spending- this is a stewardship vs. ownership mentality.

Ownership says whatever I have, I own. Stewardship says it's all God's anyway, how can I use it to glorify Him?

5) Resist Debt- stay away from credit cards as much as possible.

All of this takes time. It may take years, but don't let it deter you from the life of freedom God wants you to live. 2 Corinthians 9:6-11 talks about sowing and reaping. There is such a thing as a seed in good soil. It takes a season to do its thing, but it produces a harvest that's far greater than what you started with. This is what God is inviting you into. The right seed in good soil, patience, a harvest that produces more good seeds, repeat. Do you believe God can do this in your life? Do you believe that generosity can be the story of your life? It all starts with the Cross where He cancelled your ultimate debt. Before He wants to talk to you about your finances, He wants to address your heart. He's not taking from you, He is offering you brand new life and eternity with Him.

“

"This should inform your life, as well as your finances. He gave to save me, so I could live. So, I give, I save to have flexibility, so I can live on what's left over... Eventually, you can give 100%."

”

Louie Giglio

Discussion Questions

Have you been able to create a financial margin? If not, how could you start?
Recap from last week, what is the world's mindset vs. God's mindset on finances?
What does God want you to do and how will He respond according to Malachi 3:10?
Louie brought up that work was created before the Fall of Man. What is the whole point of work?
How does the Cross change our view of finances?
What are the five steps to attacking debt that Louie gave? How have you implemented them?
Read 2 Corinthians 9:6-11. What are the principles of sowing and reaping?
Does it discourage you that getting out of debt can take so long? How does 2 Corinthians 6:6-11 encourage you?
God does not want to take from us. What is He offering? Why is it a Godly pursuit to be debt-free?
How can you honor God in your finances this week?

Scripture References

1If you fully obey the

Lord

your God and carefully follow all his commands I give you today, the

Lord

your God will set you high above all the nations on earth.

2All these blessings will come on you and accompany you if you obey the

Lord

your God:

3You will be blessed in the city and blessed in the country.

4The fruit of your womb will be blessed, and the crops of your land and the young of your livestock—the calves of your herds and the lambs of your flocks.

5Your basket and your kneading trough will be blessed.

6You will be blessed when you come in and blessed when you go out.

7The

Lord

will grant that the enemies who rise up against you will be defeated before you. They will come at you from one direction but flee from you in seven.

8The

Lord

will send a blessing on your barns and on everything you put your hand to. The

Lord

your God will bless you in the land he is giving you.

9The

Lord

will establish you as his holy people, as he promised you on oath, if you keep the commands of the

Lord

your God and walk in obedience to him.

10Then all the peoples on earth will see that you are called by the name of the

Lord

, and they will fear you.

11The

Lord

will grant you abundant prosperity—in the fruit of your womb, the young of your livestock and the crops of your ground—in the land he swore to your ancestors to give you.

12The

Lord

will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none.

13The

Lord

will make you the head, not the tail. If you pay attention to the commands of the

Lord

your God that I give you this day and carefully follow them, you will always be at the top, never at the bottom.

14Do not turn aside from any of the commands I give you today, to the right or to the left, following other gods and serving them.

15However, if you do not obey the

Lord

your God and do not carefully follow all his commands and decrees I am giving you today, all these curses will come on you and overtake you:

16You will be cursed in the city and cursed in the country.

17Your basket and your kneading trough will be cursed.

18The fruit of your womb will be cursed, and the crops of your land, and the calves of your herds and the lambs of your flocks.

19You will be cursed when you come in and cursed when you go out.

20The

Lord

will send on you curses, confusion and rebuke in everything you put your hand to, until you are destroyed and come to sudden ruin because of the evil you have done in forsaking him.

21The

Lord

will plague you with diseases until he has destroyed you from the land you are entering to possess.

22The

Lord

will strike you with wasting disease, with fever and inflammation, with scorching heat and drought, with blight and mildew, which will plague you until you perish.

23The sky over your head will be bronze, the ground beneath you iron.

24The

Lord

will turn the rain of your country into dust and powder; it will come down from the skies until you are destroyed.

25The

Lord

will cause you to be defeated before your enemies. You will come at them from one direction but flee from them in seven, and you will become a thing of horror to all the kingdoms on earth.

26Your carcasses will be food for all the birds and the wild animals, and there will be no one to frighten them away.

27The

Lord

will afflict you with the boils of Egypt and with tumors, festering sores and the itch, from which you cannot be cured.

28The

Lord

will afflict you with madness, blindness and confusion of mind.

29At midday you will grope about like a blind person in the dark. You will be unsuccessful in everything you do; day after day you will be oppressed and robbed, with no one to rescue you.

30You will be pledged to be married to a woman, but another will take her and rape her. You will build a house, but you will not live in it. You will plant a vineyard, but you will not even begin to enjoy its fruit.

31Your ox will be slaughtered before your eyes, but you will eat none of it. Your donkey will be forcibly taken from you and will not be returned. Your sheep will be given to your enemies, and no one will rescue them.

32Your sons and daughters will be given to another nation, and you will wear out your eyes watching for them day after day, powerless to lift a hand.

33A people that you do not know will eat what your land and labor produce, and you will have nothing but cruel oppression all your days.

34The sights you see will drive you mad.

35The

Lord

will afflict your knees and legs with painful boils that cannot be cured, spreading from the soles of your feet to the top of your head.

36The

Lord

will drive you and the king you set over you to a nation unknown to you or your ancestors. There you will worship other gods, gods of wood and stone.

37You will become a thing of horror, a byword and an object of ridicule among all the peoples where the

Lord

will drive you.

38You will sow much seed in the field but you will harvest little, because locusts will devour it.

39You will plant vineyards and cultivate them but you will not drink the wine or gather the grapes, because worms will eat them.

40You will have olive trees throughout your country but you will not use the oil, because the olives will drop off.

41You will have sons and daughters but you will not keep them, because they will go into captivity.

42Swarms of locusts will take over all your trees and the crops of your land.

43The foreigners who reside among you will rise above you higher and higher, but you will sink lower and lower.

44They will lend to you, but you will not lend to them. They will be the head, but you will be the tail.

45All these curses will come on you. They will pursue you and overtake you until you are destroyed, because you did not obey the

Lord

your God and observe the commands and decrees he gave you.

46They will be a sign and a wonder to you and your descendants forever.

47Because you did not serve the

Lord

your God joyfully and gladly in the time of prosperity,

48therefore in hunger and thirst, in nakedness and dire poverty, you will serve the enemies the

Lord

sends against you. He will put an iron yoke on your neck until he has destroyed you.

49The

Lord

will bring a nation against you from far away, from the ends of the earth, like an eagle swooping down, a nation whose language you will not understand,

50a fierce-looking nation without respect for the old or pity for the young.

51They will devour the young of your livestock and the crops of your land until you are destroyed. They will leave you no grain, new wine or olive oil, nor any calves of your herds or lambs of your flocks until you are ruined.

52They will lay siege to all the cities throughout your land until the high fortified walls in which you trust fall down. They will besiege all the cities throughout the land the

Lord

your God is giving you.

53Because of the suffering your enemy will inflict on you during the siege, you will eat the fruit of the womb, the flesh of the sons and daughters the

Lord

your God has given you.

54Even the most gentle and sensitive man among you will have no compassion on his own brother or the wife he loves or his surviving children,

55and he will not give to one of them any of the flesh of his children that he is eating. It will be all he has left because of the suffering your enemy will inflict on you during the siege of all your cities.

56The most gentle and sensitive woman among you—so sensitive and gentle that she would not venture to touch the ground with the sole of her foot—will begrudge the husband she loves and her own son or daughter

57the afterbirth from her womb and the children she bears. For in her dire need she intends to eat them secretly because of the suffering your enemy will inflict on you during the siege of your cities.

58If you do not carefully follow all the words of this law, which are written in this book, and do not revere this glorious and awesome name—the

Lord

your God—

59the

Lord

will send fearful plagues on you and your descendants, harsh and prolonged disasters, and severe and lingering illnesses.

60He will bring on you all the diseases of Egypt that you dreaded, and they will cling to you.

61The

Lord

will also bring on you every kind of sickness and disaster not recorded in this Book of the Law, until you are destroyed.

62You who were as numerous as the stars in the sky will be left but few in number, because you did not obey the

Lord

your God.

63Just as it pleased the

Lord

to make you prosper and increase in number, so it will please him to ruin and destroy you. You will be uprooted from the land you are entering to possess.

64Then the

Lord

will scatter you among all nations, from one end of the earth to the other. There you will worship other gods—gods of wood and stone, which neither you nor your ancestors have known.

65Among those nations you will find no repose, no resting place for the sole of your foot. There the

Lord

will give you an anxious mind, eyes weary with longing, and a despairing heart.

66You will live in constant suspense, filled with dread both night and day, never sure of your life.

67In the morning you will say, “If only it were evening!” and in the evening, “If only it were morning!”—because of the terror that will fill your hearts and the sights that your eyes will see.

68The

Lord

will send you back in ships to Egypt on a journey I said you should never make again. There you will offer yourselves for sale to your enemies as male and female slaves, but no one will buy you.

6Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.

7Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.

8And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work.

9As it is written:

“They have freely scattered their gifts to the poor;

their righteousness endures forever.”

10Now he who supplies seed to the sower and bread for food will also supply and increase your store of seed and will enlarge the harvest of your righteousness.

11You will be enriched in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God.

Louie Giglio

Louie Giglio is the Visionary Architect and Director of the Passion Movement, comprised of Passion Conferences, Passion City Church, Passion Publishing and sixstepsrecords, and the founder of Passion Institute.