a nation of debt. us national debt 1/31/13 16,433,791,850,294.04 314 million people $52,000 per...
TRANSCRIPT
A Nation of Debt
A Nation of Debt
•US National Debt 1/31/1316,433,791,850,294.04• 314 million people• $52,000 per person• $146,000 per taxpayer
US Personal Debt
•Average consumer credit card debt $5-15k depending on source cited• Student Loan debt outstanding• $956 billion
US Personal Debt
•Average student loan debt 2011• $23,300• 10% owe $54,000+• 3% owe $100,000+
•Other personal debt
What does Bible say about debt?
• Is it a sin?• Proverbs 21:20•Romans 13:8• Proverbs 22:7• Proverbs 22: 26-27
Does the Bible say that lending is
bad?
• Luke 6:35•Deuteronomy 15, 28
My Debt Story
• $14,000 student loans• $20,000 credit cards• $6,000 engagement ring
Our Debt Story
• $10,000 student loans• $6,000 credit cards• $20,000 in car loans• $150,000 mortgage•We were approved for $310,000 mortgage and over $50,000 in credit cards
How does the Bible say to avoid
debt?
• 1 Timothy 5:8• In order to provide for our own and others we must live within our means and budget
Repayment of Debt
• Psalm 37:21• 2 Kings 4
Review
•Debt is not a sin, but is discouraged• Lending is a sign of strength•Repayment is expected
•Colossians 2:14
God’s Provision for Debt
•God made a provision to pay for our debt to Him