Further Thought:

 The three-step process of debt elimination is actually found on one page of Ellen G. White’s writings. Emphasis has been added to highlight the points.

“Be determined never to incur another debt. Deny yourself a thousand things rather than run in debt.

Image © Stan Myers from GoodSalt.com

This has been the curse of your life, getting into debt. Avoid it as you would the smallpox.

Make a solemn covenant with God that by His blessing you will pay your debts and then owe no man anything if you live on porridge and bread. … Do not falter, be discouraged, or turn back. Deny your taste, deny the indulgence of appetite, save your pence and pay your debts.

Work them off as fast as possible. When you can stand forth a free man again, owing no man anything, you will have achieved a great victory.” — Counsels on Stewardship, p. 257.

If you need additional help to become debt-free, try these points:

Establish a budget. Make a simple budget by keeping a record of all your income and expenses/purchases over a period of three months. Many are surprised to learn how much money they spend on unnecessary items.

Destroy credit cards. Credit cards are one of the major causes of family indebtedness. They are so easy to use and so hard to pay off. If you find that you aren’t paying off the cards in total each month, or that you are using them to purchase items that you would not otherwise have bought, you should destroy your credit cards before they destroy you or your marriage or both.

Begin economic measures. Sometimes we aren’t aware of how much we could save on our monthly expenses just by being careful about some of the small things that we purchase. They quickly add up.

Discussion Questions:

<–Thursday

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Source: https://ssnet.org/blog/friday-further-thought-dealing-with-debt/

Join It Is Written Sabbath School host Eric Flickinger and this quarter’s author, G. Edward Reid, as they provide additional insights into this Quarter’s Sabbath School lessons, “Managing for the Master, Till He Comes”
[youtube https://www.youtube.com/watch?v=rPLsYgSpVdM&w=560&h=315]

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Key Thought: Today a much larger number of the people are in debt. We will consider the reasons for debt and how to deal with it.
February 4, 2023

1. Have a volunteer read Deuteronomy 28:1,2,12

1. Ask class members to share a short thought on what the most important point is in this passage.
2. What is God’s ideal for His children regarding debt?
3. Personal Application: How can we attain to this ideal concerning debt What principles can we apply to ourselves today? Share your thoughts.
4. Case Study: One of your relatives states, “Everybody’s in debt. The government’s in debt so far, they’ll never be able to pay it back. In order to buy a house, a car, things for the house, and recreation; you have to go into debt. I think it is okay as long as you don’t go overboard.” How would you respond to your relative?

2. Have a volunteer read Matthew 6:24, I John 2:15, Psalm 50:14,15.

1. Ask class members to share a thought on what the most important point in this text is.
2. What is the common theme found in these verses? What attitude should people live with?
3. Personal Application: What does it mean to “pay your vows”? Are there examples of paying or not paying vows in the Scripture? Share your thoughts.
4. Case Study: One of your friends states, “Working hard to earn a good living doesn’t seem to me to be the same thing as making money or wealth an idol. What do you think? Is it the same, or is there a difference?.” How would you respond to your friend?

3. Have a volunteer read Proverbs 6:1-5, 17:18, 22:26.

1. Ask class members to share a short thought on what the main idea of this passage is.
2. What is the message in these passages?
   (Note: Studies show that 75% of cosigners end up making the payments on the loans,)
3. Personal Application: In what ways are those who borrow under bondage to the lender? Share your thoughts.
4. Case Study: One of your neighbors states: “Nobody’s going to take advantage of me, If anyone borrows from me; I charge them interest and double it if they don’t pay on time. That way I make money and insure that I get paid on time.” How would you respond to your relative?

4. Have a volunteer read Deuteronomy 15:1-5.

1. Ask class members to share a thought on what the most important point in this text is.
2. What challenges do you see in lending money to someone, or in borrowing money from someone, especially a friend or relative
3. Personal Application: Have you ever lent money to someone? How fair and kind were you in your dealings with them? How responsible were they? Share your thoughts.
4. Case Study: Think of one person who needs to hear a message from this week’s lesson. Tell the class what you plan to do this week to share with them.

(Truth that is not lived, that is not imparted, loses its life-giving power, its healing virtue. Its blessings can be retained only as it is shared.”Ministry of Healing, p. 148).

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Read Deuteronomy 15:1-5. What did the Lord require of His people as revealed in these verses?

In harmony with other seven-year statutes (Exodus 21:2; Leviticus 25:3-4), not only the slaves or servants and the land were regulated, but also the lenders. Because the lenders did not want to forgive any debts, the longest anyone could be in debt was seven years. Whatever else we can take from these verses, they do show that the Lord cares about these kinds of financial issues, especially whenever it concerned fellow Israelites. These verses do show also that the Lord acknowledged the reality of debt, no matter how bad it generally was. He also emphasized that it was to be avoided as much as possible.

Image © Krieg Barrie from GoodSalt.com

Today, by contrast, many parts of the world have loans for 30 and 40 years for home purchases. It seems that one reason houses cost so much is that credit is available to provide loans to purchase them.

Meanwhile, many people, parents, and students wonder about borrowing money for an education. As a rule, getting a college degree will enhance a person’s income capability for the rest of his or her life. Some people might have to borrow some money to pay for their education, but keep in mind these factors. You have to pay it back with interest. Try to get all of the grants and scholarships that you can qualify for. Work and save all you can for school. Take only courses that will lead to a job. Have parents help. In Bible times, parents gave their children farmland so that they could make a living. Today that “inheritance” should likely be an education so that they can become independent adults.

In an ideal world, there would be no borrowing and no debt. But because we don’t live in an ideal world, there might be times when it is necessary to borrow. Just make sure that you have the best deal possible, and the best interest rate available. Then borrow the very minimum that you need, and pay it off as quickly as possible to save on interest costs. In principle, however, to whatever degree humanly possible, we should seek to avoid debt, and by following biblical financial principles in our everyday lives, we can go a long way toward avoiding unnecessary debt and the terrible strain it can put on us and our families.

<–Wednesday Friday–>

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You can view an in-depth discussion of Dealing with Debt in the Hope Sabbath School class led by Pastor Derek Morris. Click on the image to view: [youtube https://www.youtube.com/watch?v=ku3NaXYjHlM&w=560&h=315]

With thanks to

Hope Channel – Television that will change your life.

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