Finance Lesson #06

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Syllabus

February 12, 2010

RETURN TO THE LIST OF LESSONS

Bible Perspectives
FINANCIAL TRUTHS FROM THE BIBLE
Lesson #06
ORDER IN GOD’S FINANCIAL SYSTEM

• Memory verse: Pro 21:20

 

• God’s Order in His Economic System

 

• The kingdom of God has order. God works through order. God expects our lives to have order also. The believer should especially have order in his finances.
  • Order in finances begins with a budget. How should the believer make a budget?

 

• A guide for a budget:

 

• =1= First pray and then decide the amount that you will give to God and His kingdom.
  • Following the concept of order, the believer must give in a periodic manner. (Every week, every month, etc.)
• =2= From the quantity that remains, determine the amount that you have to pay for taxes and insurance.
• =3= With the amount that remains, consider this quantity as 100% and determine the specific quantities in the following categories.
  • 44% for everything that pertains to your house. (Include the mortgage payments, the utilities, and the maintenance.)
  • 14% for transportation. (Include the cost of your car, gasoline, etc.)
  • 20% for food.
  • 6% for clothing.
  • 6% for medical expenses.
  • 10% for savings and for use to increase the amounts of the other categories as needed from time to time.

• We are going to work toward the position of being on the positive side of compound interest. Before we can arrive at being on the positive side of compound interest, we need some principles to avoid the violation of the way the economic system of God functions.

 

• Some Basic Principles of God’s Economic System:

 

• =1= Children should not request loans from their parents and parents should not loan money to their children.
  • Read Eph 5:31
    • Maturity means that children can live independently from their parents.
    • When parents loan money to their children, it gives them the right to express their opinion about the financial decisions of their children.
  • Read Pro 22:7
  • Read Pro 28:24
• =2= The believer must not request loans from friends.
  • The request for money from a friend puts stress on that relationship and puts his friend in a very difficult position that he cannot say, “no”.
  • It puts the friendship at risk.
• =3= Do not spend more than 100% of the quantity of money that you have.
• =4= If you use credit cards, you must pay the total amount at the end of the month.
  • If you cannot make this principle an habitual practice, you must destroy all your credit cards. (You cannot advance financially from being on the wrong side of compound interest.)
• =5= A person must not co-sign for another person.
  • Read Pro 17:18
  • Read Pro 6:1-5
    • A person that cosigns a contract takes on the debt of the other person. Frequently parents do it for their children, but it is a violation of scripture.
      • When a father cosigns for his son, he teaches his son that entering into debt is legitimate for a Christian.
      • When a father cosigns for his son, he teaches his son to depend on his parents instead of depending and trusting in God.
      • If you have already cosigned for another person, you should eliminate this contract as soon as possible.
• =6= Is it legitimate for a Christian to enter into bankruptcy?
  • Generally a Christian should not enter into legal bankruptcy to avoid his debts because it demonstrates:
    • Dishonesty
    • Lack of responsibility
    • Lack of faithfulness
    • Lack of integrity
    • Read Psa 37:21
      • There are two circumstances where legal bankruptcy is permissible.
        • =1= when a creditor forces the Christian into legal bankruptcy.
        • =2= when the health of the believer is put at risk by the pressure of creditors.
      • In these cases, even after a legal bankruptcy, a Christian with character will be moved to do what is correct, and he will pay his debts eventually, and God will bless him in his efforts.
• =7= To change your position from the negative side of credit to the positive side of credit, you need to change your perspective of faith in the provision of God.
  • Read Psa 37:4
  • Read Phi 4:15-19
    • Notice that God says that He provides your needs to conform to His riches and not to conform to your needs.
    • What is the condition for receiving the provision of God?
      • Read 2Cor 9:6-7
      • Read Luk 6:38
        • This scripture is the order that Jesus Christ gave us in this age of grace.
          • Notice that the believer makes the decision about the quantity that he receives from God by the quantity that he gives to the Lord.
• =8= Do not buy or sell anything under pressure without investigation.
  • Read Pro 28:23
  • Read Pro 19:1-4
    • The wise Christian will investigate when it is the best time to buy something or to sell something. He will observe the special sales in various seasons of the year.
    • The wise Christian will know the value of an object before he buys it.
• Your Work:

• =1= Transfer your business to God’s ownership.
  • If you have a business, you should give ownership of your business to God in prayer.
  • Read Pro 16:3
    • God has the responsibility of that which belongs to Him.
  • Responsibility of the employer:
    • Serve your employees.
      • Read Mat 20:26
      • Read Eph 6:7-9
      • Read Col 4:1
    • Pay fair wages.
    • Keep your employees accountable.
• =2= The guide and the responsibilities of the employee:
  • The employee must give a full day’s work for a full day’s pay.
• Lea Pro 6:6-11
• Lea Pro 18:9
• Lea 2Tes 3:7-9
• The employee must be absolutely honest.

• Read Dan 6:4
• You must be faithful.
• You must give honor to your employer.

• Read Dan 6:21
• You must give honor to other employees.

• Read Pro 30:10
• =3= God wants to be a partner in your work whether you are the employer or the employee.

• God gives talents to Christians. God gives success to the Christians.
• God gives promotion to people.
• =4= The Christian must not be unequally yoked with a partner that is not a Christian.

• Read 2cor 6:14

HOMEWORK
This is a self-study. Please do not send homework answers to the teacher forcorrection.

• Follow the guide in this lesson to establish a budget for your personal finances.
• How much debt do you have? Make a list of the total amounts and the type of interest of each debt.
  • Arrange your list in this way: put the smallest debt as #1 on your list and then #2 etc. The largest debt is at the end of your list.
    • Next to the list of debts, put the amount of interest that you pay on each debt.

Aprenda de la memoria: Pro 22:7)