Class Lesson July 24, 2016

Last week we looked at Security and Contentment - where do you find it? Many people see "Money" as a means of security and contentment, but as we saw from Proverbs, money is here today and gone tomorrow - it's temporary! The true source of security and contentment can only be found in a relationship of trust in the Lord God. And you are never going to experience that security and contentment until you surrender your will and control in all things to God.

This week we are looking at our culture of instant gratification. We don't like to wait, and we all tend to want things now. Credit cards and loans can make it easy to get something now, even if we can't afford it ... now! Debt might seem manageable now, but circumstances can quickly change and work against us. The Bible offers dire warning and shows us the consequences of foolishly going into debt or taking on financial obligations irresponsibly.

Think about it... 

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"Some people, got to have it."

THE BIBLE MEETS LIFE
Impulse buys. Must-have purchases. A good deal. Surely we’ve all given in to one or more of these only to experience buyer’s remorse.

• A young man sees a sports car he’s just got to have. Then his job changes and he needs something more practical—but he’s stuck making car payments for five more years. 

• An investor convinces his friend to put a large sum of money into a “sure-fire” real estate venture. The friend takes out a loan, thinking he can pay it off quickly with the return, but five years later, he hasn’t seen a dime. 

• At 1:00 a.m., that purchase from a home-shopping channel seemed smart. Weeks later, she wonders, What was I thinking? Meanwhile, she still has “four easy payments” to make.

As we’ll see in the following pages, the writer of Proverbs warned about risky financial obligations that harm us for the long-term. We must be careful that present happiness doesn’t result in future despair.

WHAT DOES THE BIBLE SAY?


Proverbs 6:1-5; 22:7 (ESV)

6:1My son, if you have put up security for your neighbor, have given your pledge for a stranger, 2 if you are snared in the words of your mouth, caught in the words of your mouth, 3 then do this, my son, and save yourself, for you have come into the hand of your neighbor: go, hasten, and plead urgently with your neighbor. 4 Give your eyes no sleep and your eyelids no slumber; 5 save yourself like a gazelle from the hand of the hunter, like a bird from the hand of the fowler.

22:7The rich rules over the poor, and the borrower is the slave of the lender.

Security (6:1)—The individual who put up the security for the loan became responsible for the debt and could have his assets seized to repay the debt if the debtor defaulted. 

Pledge (6:1)—The Hebrew for “given your pledge” can be literally translated “struck your palm.” This was probably a custom used to make a transaction between two people official. 

Why are so many people willing
to accept debt in today’s culture?

Proverbs 22:7

How much slavery are you carrying? That may sound like a strange question, but it’s a biblical one. Look at Proverbs 22:7. When we borrow money, we become a slave to the lender. 

In 2015, the average debt-ridden U.S. household carried $15,863 in credit card debt, $156,584 in mortgage debt, and $33,090 in student-loan debt. Americans collectively owe $11.86 trillion in debt, with $901 billion alone tied up in credit card debt. These numbers are staggering—and they depict a nation enslaved.

How does debt enslave the borrower?

1. Debt restricts the freedom to give. When debt governs the checkbook, we are limited in our ability to give spontaneously as needs arise. Cheerful giving from the overflow of God’s provision (see 2 Cor. 9:6-7; 1 John 3:17) can be wiped out by debt.
2. Debt inhibits the ability to save and invest. Debt focuses all of our finances on the present. As a result, we sacrifice future goals, projects, and opportunities on the altar of instant gratification—and that momentary pleasure chokes future savings and investments.
3. Debt distorts an understanding of value. Debt feeds our culture’s “I can have it now” mentality. A line of credit allows us to have what we want when we want it. So we can feed our hunger with a $1 cheeseburger with the same line of credit we use to pay for a $3,000 family vacation. The concept of value is eliminated in the face of instant indulgence.
4. Debt prevents progress. Accumulating debt creates a vicious cycle. Instead of moving forward when we receive a raise or an unexpected windfall, we’re forced to pay down debt. The financial blessings that could help us advance are given to our debtors instead.
5. Debt feeds a false self-image. Easy credit has fed the lie that you have to “keep up with the Joneses.” Rather than representing who they really are to the world, many choose to prop up their imaginary façade by accumulating debt.

Proverbs 6:1-2

In Proverbs 6, Solomon gives us wise words of warning against financial arrangements that can entangle us in circumstances beyond our control.

The idea of putting up security or surety for someone could be described in modern terms as co-signing a loan and taking on the responsibility of repayment should the other party default. I’ve seen many well-meaning people fall into this trap, swayed by guilt or compassion without maintaining clear judgment.
Unfortunately, they suffered serious consequences when the deal went bad or the other person took a hike. 

It’s wise to avoid entering legal and financial agreements that depend on someone else’s faithfulness and risk the ability to make a living for our families and ourselves. Certainly, when examining the whole counsel of Scripture, we recognize that God calls us to support the ministry of the church (see Mal. 3:10) and to help people in need (see Prov. 19:17; 28:27) through generous giving. But even if we are making a loan or financial arrangement in the name of ministry, we are not to put the well-being of our families, livelihoods, or personal finances on the line without caution and discretion. 

Debt puts us in bondage, and we trap ourselves by our own words when we make these types of agreements. The picture Solomon painted was of a fowler setting a trap to catch a bird (see 6:5). The psalmist warned that our enemies seek to ensnare us (see Ps. 141:9), but Solomon admonished that we can also be “caught in the words of your mouth” (Prov. 6:2).

We should not follow our emotions regarding money. People can twist words and tug at our hearts in order to manipulate situations to their advantage. Don’t fall prey to agreements made out of pity or guilt. Our primary obligation is to walk wisely and honorably under the lordship of Jesus Christ, trusting His Word and His will to direct our steps (see Prov. 3:3-6; 4:25-27).

How do we navigate the tension between avoiding entanglements and wanting to help those

in need?

What can we learn from the imagery in these verses?

Proverbs 6:3-5

A hardworking college student in our church recently fell prey to the deception of his own family members and co-signed a loan without full knowledge of the details. Thankfully, the leader of his Bible study uncovered the specifics of the arrangement and walked this young man through the steps outlined in Proverbs 6. He did not delay finding a solution, but attacked the issue head on. He humbly contacted his family to explain the situation and carefully untangled the snare he’d set for himself. 

Here are some wise steps for anyone else who finds themselves in such an entanglement:

• Act quickly. No bird or animal caught in a trap is going to take a quick nap before it tries to free itself. If you’re caught in a bad agreement or obligation, don’t hesitate. Act quickly!

• Work diligently. We should be diligent to push until a resolution is reached. Every story may not end perfectly, but that shouldn’t be because of a lack of effort and persistence on our part.

• Plead humbly. When we try to escape from an agreement we’ve made, a humble and gentle spirit will serve better than harsh ultimatums. We should honestly state our regret and humbly ask to be absolved of the arrangement.

Regardless of the outcome, we should gratefully acknowledge the Lord’s goodness in our lives. We are to honor our commitments, learn from our past mistakes, and avoid repeating them in the future.

How can obeying the principles in these passages empower us to serve and honor God?

LIVE IT OUT

 

How will you respond this week to the principles you’ve just studied? Consider the following suggestions:

• Get advice. Take some time this week to learn more about co-signing loans and other common financial agreements. Seek to gain greater confidence about which agreements are helpful and which should be avoided.

• Get out. If you are currently caught in a harmful financial obligation, prayerfully identify one step you can take this week to begin the process of rescuing yourself. Then take that step.

• Get together. Make sure your friends and family members are aware of the dangers involved with co-signing and other harmful entanglements. Make it a point to share what you’ve learned from God’s Word about making wise decisions.

We all make impulse buys that are relatively harmless, from a pack of gum to the newest summer blockbuster on DVD. But studying God’s Word will help us avoid the kind of entanglements that can drag us down for years and more.


Teacher's Notes:

The Bible includes instructions to the wise on how to manage debt.


A recent survey by Princeton Survey Research Associates International revealed that more than 50% of Americans have spent $100 or more on an impulse buy. And more than 20% of Americans have spent at least $1,000 on an impulse purchase. The majority of Americans (84%) admit to having made impulse purchases.


Maybe you can recall a time (or many times) when you have made an impulse purchase.


What is one of the dumbest things you have ever bought?

• life size cardboard cutout of Elvis
• online Russian lessons
• Couple went bankrupt spending $100,000 plus on Beanie Babies

Most of these things didn’t cost us too much.

• More serious are purchases or investments that lose us significant amounts of money
• Today we look at warnings to avoid financial obligations that could sink you. 

 

 

 

 

 

 

The writer of Proverbs is teaching us today about prudence. What does that mean?

• A prudent person is one who is capable of exercising sound judgment in practical matters. He or she is cautious and discreet in conduct, careful, and sensible. We often describe a prudent person by saying that he or she has common sense. A prudent person can foresee the consequences of possible actions and behaves accordingly. A godly and wise person can be prudent because God’s Word helps us see the usual consequences of our actions before we commit them. This is especially the case in this study.

WHAT DOES THE BIBLE SAY?

Proverbs 6:1-5; 22:7 (ESV)

6:1-5 My son, if you have put up security for your neighbor, have given your pledge for a stranger, if you are snared in the words of your mouth, caught in the words of your mouth, then do this, my son, and save yourself, for you have come into the hand of your neighbor: go, hasten, and plead urgently with your neighbor. Give your eyes no sleep and your eyelids no slumber; save yourself like a gazelle from the hand of the hunter, like a bird from the hand of the fowler.


22:7The rich rules over the poor, and the borrower is the slave of the lender.


In these two readings from Proverbs, there are two financial practices that we are called to act prudently with or cautiously.


1. Providing security (6:1-5). What is this security that’s spoken of?

Security is taking on another person’s obligations as one’s own, as when a person co-signs a note to pay another person’s loan. For example, Paul offered to pay Onesimus’ past debts, but not his future ones (Philemon 18-19). The Bible does not forbid people from providing security for someone else. The Bible and this proverb in particular warn of the possible consequences of such actions and give advice about how to avoid them in the first place.



2. Borrowing money (22:7). Is it wrong to borrow money?

Proverbs, and for that matter the whole of the Bible, does not forbid borrowing money. In Israel, the Jews borrowed from one another. The Mosaic Law permitted borrowing, but condemned charging other Jews interest, though the Israelites could charge foreigners interest. The New Testament does not forbid borrowing either, though it condemns not paying debts (Rom. 13:6-8). It may be unwise to go into debt in some situations, but it is going too far to say that the Bible condemns taking on any debt.



What is the better course of action?


Three warnings are presented like a fog horn to an approaching ship.



I. Don’t borrow money you can’t repay (22:7).

As previously mentioned, the Bible does not prohibit borrowing, but all references to borrowing are negative. Most are warnings.

“The rich rule over the poor, and the borrower is a slave to the lender” (Prov. 22:7).

• “The wicked man borrows and does not repay, but the righteous one is gracious and giving” (Psa. 37:21).
• “Do not owe anyone anything, except to love one another, for the one who loves another has fulfilled the law” (Rom. 13:8).

How is the borrower a slave to the lender?

• When you owe money, the lender has a certain amount of control over you, in essence, you work for your creditor, if you are deep in debt, you are a slave to that debt … you have very little left to spend on yourself
• If you owe that person money, the creditor can have your wages garnished. The "garnishee defendant" is your employer who is being ordered by the court to pay a portion of the wages you have earned to the creditor. Once a creditor has obtained a judgment against you, the creditor can start the garnishment proceeding.
• Debt has a way of destroying the debtor. It enslaves people. It puts them in bondage to their credit-dominated lifestyle. One debtor once said: “I feel like permanently engraving on the bumper of my car the bumper sticker that reads ‘I owe, I owe, so off to work I go.’” Debt’s real service charge is freedom—financial, spiritual, and relational. No one who is financially bound can be spiritually and emotionally free.

Debt can enslave us. If we don’t exercise caution and don’t use common sense, we may become enslaved by our indebtedness.

Is debt the real problem?

• Debt, however, is not the problem. Debt is the indication of something deeper. Debt is the symptom of overspending and under-saving, which often is brought on by greed, self-indulgence, impatience, fear, poor self-image, lack of self-worth, or a lack of self-discipline. One financial advisor stated: “Being $40,000 in debt is like being 40 pounds overweight. It is a result of over-consumptive behavior.”

So what’s the answer? Stop it. Don’t get into debt. Avoid it. Remember: “When your outgo exceeds your income, then your upkeep is your downfall.” The prudent person sees the consequences of debt and avoids it at all costs.




II. Don’t make pledges you can’t keep (6:1-2).


Proverbs 6:1-2 (HCSB) My son, if you have put up security for your neighbor or entered into an agreement with a stranger, 2 you have been trapped by the words of your lips— ensnared by the words of your mouth.


What sort of commitment do these two verses warn us about?

• Co-signing a note or being the guarantor of someone else’s debt - underwriting someone else’s loan

What are other kinds of financial traps we can get into?

• Credit card debt - taking on too much debt (house, car, school loans, etc.)
• Get-rich-quick schemes and foolish investments

If we aren’t careful, we will make financial obligations beyond our ability. This is unwise. This is a trap. Solomon warned, “You have been trapped by the words of your lips—ensnared by the words of your mouth” (Prov. 6:2). The words trapped and ensnared indicate what happens when we fail to be prudent, making commitments that are beyond our ability to repay.


What are the principles of how a mousetrap works?

• Bait - trigger set - mouse nibbles at bait, trips trigger - “snap!”

How are foolish financial decisions like being trapped or ensnared?

• there is bait (you see what looks like a good deal – easy money)
• you go for it, take the bait
• then “snap” … all of a sudden you realize you’re in trouble
• you cannot see a way out - no matter which way you turn, you’re stuck
• the harder you try to get yourself out of it, the deeper you get mired
• Another proverb reinforces this sentiment, “It is a trap for anyone to dedicate something rashly and later to reconsider his vows” (Prov. 20:25). A trap is designed to injure, impair, impale, and to kill. Regarding debt, it is making a promise without pondering the possibilities; it is making a decision without considering about the consequences.

Besides burdening a person with debt, what other problems are brought on by unwise financial decisions?

• poor credit rating - lose business partners
• could put one’s employees out of work - personal credibility
• can harm a marriage - could make ministry opportunities impossible
• Debt’s trap is attractive, easy to step into, and almost impossible to escape from. Advertisers often claim that we can purchase cars and furniture by making “36 easy payments.” It is easy to sign the paper, making the commitment. But there is nothing easy about making monthly payments, especially if they are beyond our means.

It is always easier to get into financial binds than it is to get out of them. Extracting oneself from these obligations is hard. A couple once received a credit card application that would allow them to put whatever picture they wanted on the card. The couple decided they should put a picture of someone with a leg caught in a bear trap or someone behind bars in jail or someone living in abject poverty. Any of those pictures would describe the trap of making pledges they couldn’t keep.


So what’s the solution? Don’t make commitments you can’t keep. The prudent person avoids the financial traps that are beyond their ability to repay.



III. Don’t procrastinate in getting out of financial debt (6:3-5).


Proverbs 6:3-5 (NLT) Follow my advice and save yourself, for you have placed yourself at your friend’s mercy. Now swallow your pride; go and beg to have your name erased. 4 Don’t put it off; do it now! Don’t rest until you do. 5 Save yourself like a gazelle escaping from a hunter, like a bird fleeing from a net.


What should the person do who has put up security for his or her neighbor?

• Get out of it as soon as possible - go to the person or to the creditor and make some arrangements to get out of the agreement
• The impetus of these verses is for the hearer to urgently and expediently get out of debt. Solomon is screaming for his son to act now, don’t wait; don’t put it off, when he finds himself in financial bondage. The illustrations he employed are: Run like a deer from a hunter; fly like a bird from a trapper. His point is clear: If his son finds himself in a financial obligation that is about to ensnare him, he should do everything he can to get himself out of it before he discovers that he is in even worse trouble.
• It’s been said: “The best time to plant a tree was twenty years ago; the second best time is today.” That same adage applies to financial enslavement. Begin today freeing yourself from financial bondage.

Why is this a harmful thing to do?

• you have no control over your neighbor and you are at his/her mercy
• they can run off and leave you holding the bag and they could end up ruining you

How can we avoid making unwise commitments?

• let it sit for a few days and think about it
• ask for wisdom from a financial advisor
• check the background of the person to whom you are committing
• discuss with spouse

What’s the answer? Don’t wait. Don’t waste any time. Get yourself out of financial slavery today. The prudent person sees the coming danger and flees as quickly as possible.



LIVE IT OUT


A sensible or wise person takes note of those things that are dangerous and makes every effort to avoid them.

He exercises caution to keep himself safe and secure.

These proverbs warn us against putting ourselves, our businesses, our families, and our financial well-being at risk by entering into obligatory situations that exceed our means or that may include circumstances we cannot control.

Yes, be kind and generous, but be cautious.



Prayer of Commitment

Lord, give me the wisdom to avoid financial obligations that could lead to ruin and to know how to escape with integrity those in which I am already involved. Amen.


Hope to see you on Sunday!


In His Love,


David & Susan