Sunday School
TOPIC – DEBT MANAGEMENT
Memory Verse
“A certain woman of the wives of the sons of the prophets cried out to Elisha, saying,
Your servant my husband is dead, and you know that your servant feared the LORD. And the creditor is coming to take my two sons to be his slaves! ” 2 Kings 4:1
Lesson Text
2 King 41-7
LESSON INTRODUCTION
Debt occurs when something, usually money, is owed by one part fe borrower or debtor) to a second party (the lender or creditor, especially when it becomes difficult to pay back what is owed. Debt is a common problem and has a way of growing faster than expected. Although the Bible neither expressly forbids nor condones the borrowing of money, we must, however, be wise. Prov. 22:7
LESSON OUTLINES
A. CAUSES AND EFFECTS OF DEBT
B. AVOID DEBT
A. CAUSES AND EFFECTS OF DEBT
Debt can occur through different means. Some of the likely causes are poor money management skills (Lk. 15:11-13), lack of employment underemployment (Prov. 20:4), health challenges (Lk. 8:43), failed business/reduction in income, living outside one’s means (1 Tim. 6:8-
10), gambling, divorce/widowhood/single parenthood (2 Kings 4il), uncontrolled child-bearing, unexpected emergencies, unfavorable economic factors/inflation (2 Kings 6:25), impulse buying (Lk. 15:13-14), poor investment skill (Prov. 23:5), a misunderstanding of needs Versus wants (Lk, 15:13), laziness (2 Thess. 3:10b), education cost, fraud, etc. Anyone who comes to the realization that he or she has taken on too much debt becomes uncomfortable (2 Kings 4:1). The lender or emotional breakdown.
can torment the borrower (Prov. 22:7). It can also lead to psychological
B. AVOID DEBT
To forestall going into debt, believers should do the following:
- Develop a savings culture. Prov. 21:20
expenses. Lk. 14:28 - Prepare a budget based on your actual income and actual
- Avoid unnecessary spending (Prov. 21:20). Do not spend impulsively on what is not your primary need
Do not be lazy; find something to do. 1 Thess. 4:11, Prov. 6:9-11
- Be satisfied with what you have. Prov. 15:16; 1 Tim. 6:6
- Seek financial counsel and invest wisely. Prov. 15:22
- Honor God with your substance -tithe, offerings, first fruits.Prov. 3:9-10
- Help the needy. Prov. 19:17; 28:27
Any believer who is already in debt should do the following in addition to the points raised above;
- Pray for divine intervention, then seek wise and godly
counsel. Prov. 24:6 - Drastically reduce high lifestyle expenses. Philippians 4:5
- Negotiate with your creditors for a possible review of the
repayment plan. Lk 16:5-8 - Be committed to paying back what you owe. Rom. 13:8a
- Maintain discipline in financial matters. Prov. 22:26-27
CONCLUSION
Borrowing should be avoided as much as possible. It should only be considered in the case of a profitable venture.
QUESTIONS
- Mention five likely causes of debt.
- State four ways debt can be avoided.
FURTHER READINGS – SUN: 2 Kings 4:3-36; MON: Matt. 6:12; TUE:Rom. 4:4; WED:Lk.7:42-43; THUR: Col 2:14; FRI: Ex, 22:14; SAT: Deut. 15:6
“The Weight we Carry”
Are you a Believer or a Disciple of Jesus Christ?
There is “Freedom from” external interference and there’s also” Freedom to” act based on your abilities .
Being committed to a religious doctrine without any real understanding of what the religion is about is a form of bondage.
To be loyal to a religion doctrine without investigating its core doctrines and substance is ignorance masquerading as faithfulness.