198 Give, Save, Live: Live
In this series, we’ve been looking at a simple formula that will serve you well no matter your level of income. GIVE. SAVE. LIVE on the rest.
Taking our cues from God’s Word we’ve seen that we need to GIVE to God first. Then we should SAVE.
To then “LIVE ON THE REST” not only implies a prioritization of these first two actions but also a limitation of your spending. Another way to say it is “living within your means.”
Living within one’s means is not spending money you don’t have.
The issue isn’t that we don’t get that. The issue is that all too many don’t do that.
We all have a limited income. When we spend more than that we are forced to borrow, and borrowing always comes at a cost. That cost is called “interest.” Lenders get a cut of your money for letting you use their money.
If you can keep this under control and pay the lender off quickly, such borrowing is manageable. The problem comes when this is not kept under control and the lenders aren’t paid off quickly. Eventually, things begin to collapse.
If your outflow exceeds your income your upkeep will be your downfall.
The Bible speaks quite clearly about borrowing and lending. In Deuteronomy 28, Moses makes it clear that the preferred place is to be in the position of being able to lend, not in the position of having to borrow. He calls it being the head, not the tail.
In contrast, when you are in debt, you are the tail and that carries more costs than you might realize. Proverbs 22:7 puts it this way, “…the borrower is servant to the lender.”
Now, the Bible doesn’t say it’s a sin to borrow. Debt is warned against, but it is not prohibited.
Living within one’s means requires two things: conviction and planning.
If you want to climb out of the hole of debt, know this. It is possible to change your reality! It will take planning. It will require sacrifice. It will demand discipline…but it can be done.
Here are 5 keys for getting out of debt:
Learn what God has to say about the danger of debt.
Recognize the desire to acquire and determine to incur no new debts.
Pay off your credit cards and use them in the future only when necessary.
Get on a budget and follow it faithfully.
Seek counsel from a reputable advisor who has biblical convictions.
Text: Prov. 22:7; Deut. 28:12-13, 43-44
Originally recorded on January 22, 2012, at Fellowship Missionary Church, Fort Wayne, IN