Introductory Sermon:
Faith in the Midst of Financial Crisis
Outline
The people who walked in darkness
have seen a great light;
those who lived in a land of deep darkness—
on them light has shined. (Isaiah 9:2)
I lift up my eyes to the hills—
from where will my help come?
My help comes from the LORD,
who made heaven and earth. (Psalm 121:1-2)
Command them not . . . to set their hope on the uncertainty of riches, but rather on God. (1 Timothy 6:17)
This is a remarkable and frightening time for our economy. The current economic crisis is also a crisis of faith. When we can’t trust our financial institutions, the stock market, our banks, or our government we find ourselves afraid, and that fear often leads to either cynicism or panic. This may be the most potent enemy we’re facing today. When the nation was in the midst of the depression in 1933, Franklin Delano Roosevelt spoke these famous words in his first inaugural address:
. . . Let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory.
(For full inaugural address: http://www.bartleby.com/124/pres49.html.)
It’s not a question of “if” but “when” the stock market will recover. When we look at past market trends and identify those years when there was a significant drop, there always was a significant rise within a few years. (Suggestion: Show the video clip “The Stock Market.”) While we wait for that rise, the economic reality is that some people may lose their jobs and others may lose their homes. Some may need to sell their cars because they can no longer afford the payments. Some may need help and support. Others will not feel the effects of the financial crisis at all. But we must not allow ourselves to be controlled by fear, because the scriptures and our faith in God reassure us that we are going to be all right.
At the center of the economic crisis is the extension and abuse of credit. Credit comes from the Latin word credo, which means, “I believe” or “I trust.” To extend credit to someone is to believe or trust that he or she will repay. As Christians, our credo or trust is in God. The Apostle’s Creed begins, “I believe (credo)in God the Father Almighty, maker of heaven and earth.” Throughout the Bible we find words of hope and promise that remind us we have no reason to fear, for God is our refuge and strength:
The current economic crisis is a spiritual issue stemming from at least five of the seven deadly sins: gluttony, greed, sloth, envy, and pride. People are anxious all around us. We are to be beacons of hope and light. The church, the body of Christ, is to be a beacon of light inviting people to find deliverance, redemption, salvation, hope, and a new way of life.
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Sermon Series: #2
When Dreams Become Nightmares – “Enough”
16 Just then a man came up to Jesus and asked, “Teacher, what good thing must I do to get eternal life?”
17 “Why do you ask me about what is good?” Jesus replied. “There is only One who is good. If you want to enter life, keep the commandments.”
18 “Which ones?” he inquired.
Jesus replied, “‘You shall not murder, you shall not commit adultery, you shall not steal, you shall not give false testimony, 19 honor your father and mother,’ and ‘love your neighbor as yourself.’]”
20 “All these I have kept,” the young man said. “What do I still lack?”
21 Jesus answered, “If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me.”
22 When the young man heard this, he went away sad, because he had great wealth.
23 Then Jesus said to his disciples, “Truly I tell you, it is hard for someone who is rich to enter the kingdom of heaven. 24 Again I tell you, it is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.”
25 When the disciples heard this, they were greatly astonished and asked, “Who then can be saved?”
26 Jesus looked at them and said, “With man this is impossible, but with God all things are possible.”
It’s not one of those stories that needs any cultural or contextual explanations. It could very easily be a modern story. We aren’t that different from the young men. In our faith journey we, too, tend to focus our attention and concern on following the commandments or other moral behavior, and yet one of the most significant spiritual issues facing us is our relationship with money. In fact, if one was to go through the Bible, cutting out every passage related to money, there would be very little left holding the Bible together. Money has been influencing people’s relationship with God for years, and as churches today we are beginning to recognize that again. Rather than staying silent and considering it a private matter, churches are offering more and more financial classes, not because we want to build up the church budget, but because we know too many of us might also be walking away from Jesus sad.
Last week we begin a sermon series called “Enough” on Wisdom and Finances, where we reflect on the power money has in our lives, both to do good and to bring great stress in our lives. It is not a sermon series meant to pass judgment on anyone. We don’t know how much anyone makes or how much they give away. We can only answer these questions for ourselves. We are the only ones who can say if our life is in balance, if we can afford to splurge. But what we can do as a faith community is offer an opportunity to reflect and talk with one another. That is our hope with this series, that it will invite us to see in ourselves the places where we might need to make some changes or where we are doing okay. It is a time for us to ask if we would be like the rich man, walking away from Jesus, or if we would stay. It is a time for us to see what changes we would need to make in our own lives so that we can stay by Jesus’ side, and begin to experience the gift of eternal life.
The man asks Jesus, “What must I do to receive eternal life?” Jesus’ answer, and Paul’s word to Timothy, tells us that life is not found in wealth or the possessions we have, and yet in so many times and in so many ways it feels like it does. We grow up, for example, being shaped by the American Dream. It’s the dream of equality, freedom, pursuit of happiness, but it is also that desire to succeed, to have more than what we have, to do better than our parents. Just by appearances we are making that dream a reality. It used to be a novelty to have a TV. Some of you can probably tell stories about the first families to have a TV in the neighborhood, but today it’s not uncommon to have at least 2 if not more TVs in each house. Or what about our garages? We’ve gone from single car garages to two car garages to now seeing more and more houses with three car garages. That can’t be all together surprising since the average American home has gone from 1,660 sq. ft. in 1973 to 2,400 sq. ft. in 2004. We want more and we need more space to put it all in.
After recent studies, the desire for the American Dream, has been labeled AFFLUENZA. The official definition is – 1. The bloated, sluggish, and unfulfilled feeling that results from the effort to keep up with the Joneses. 2. An epidemic of stress, overwork, waste and indebtedness caused by the dogged pursuit of the American Dream. 3. An unsustainable addition to economic growth.
Our current economy really started during WWII and is built on economic spending. We heard that call to go out after 9/11 that for our economy to rebound, American needed to go out and spend. “Go shopping” we were told.
Now spending is easy form. It comes easy to me. And some of you are right with me. If shopping was a spiritual gift it would be your number one gift. In a Dave Ramsey survey, shopping is listed as the #1 recreational activity among all American. All you have to do is turn on a TV, open up a newspaper, turn on a free app on your cell phone and sure enough an advertisement will pop up encouraging you to find new ways to spend your money. Here in America we foster it at an early age by targeting our advertising to children and particular cartoons or movie franchises. All this advertising, and consumerism, and shopping simply creates a desire for more.
And if we’re not careful our AFFLUENZA and our desire for more leads to CREDIT-ITIS. Credit-itis is what happens when we try to live out our desire for more and we find that we are living beyond our means.
CREDIT-ITIS—Living beyond our means because of our desire for more.
We can just buy it now…and pay for it later. These days, we can put anything on our credit cards. Other cultures are very different than us. An old custom in the Middle East is that you can’t marry until you can properly afford to live, pay for the wedding and have a home all with ready money. If that was the case, Robbie and I would have never gotten married.
In America, our credit cards have replaced layaway. You can still layaway at Kmart or the furniture store, but very few other businesses. Our credit cards have even replaced our cash and the planning it takes to manage cash. Some younger people, such as myself, don’t carry cash and do most of their banking online.
Average credit card debt in 1990 = $3,000
Average credit card debt in 2009 = $15,700 (www.hoffmanbrinkler.com)
The interest rates on our cards are out of control. And our minimum payments have gone down from 5% a decade ago, to only 2% of our balance today. We forget that what we buy on our credit card will actually cost us about 125% of the actual cost by the time you are done with interest and fees. The problem with credit cards is that the spending doesn’t actually feel real and it makes it so easy for us to spend more than we should.
But it isn’t just our credit cards where we fall victim to the buy now pay for it later mentality. Our car loans have increased from a standard 24 to 36 month payment now to a 60 month/5 year loan. But if you want, you can even finance your new car for 8 years. That means if you financed a brand new car it would be nearly worthless by the time you made your last payment.
And today, I think we are all aware about how our Credit-it is has gotten us into trouble with our home mortgages. It’s easy to point to those people in Las Vegas, or Florida, or here in Los Angeles that caused the mortgage crisis, but we all struggle with our monthly payments on houses that can be twice as large as the ones we grew up in. All this desire for more, buying what we want has led to a real crunch in our proverbial check books. In 1982, the average American saved 10% of their monthly income. These days, that percentage is right around 1%. We are living beyond our means. And where does it go?
Jesus talked exactly about this situation Matthew 6:33 when he says to: “Seek the Kingdom of God above all else, and live righteously, and He will give you everything you need.” It is so easy for us to go after those things that we see, our purchases, finding the perfect gift, the new big screen TV, or simply the large latte instead of a small regular coffee. We fill our lives with everything but the love of God and God’s desires for our heart. And it seems like we were never really fully satisfied with what we have.
Adam Hamilton in his book, Enough, on which this series is based, made an interesting observation. He notes that the “Seven Deadly Sins” 3 of the 7 have to do with money and possessions. Think about it…Envy (of what someone else has), Gluttony (having more than what we need), Greed (wanting more). The desire for more, or un-satisfaction for what we have is a major human characteristic that each and every one of us struggles with and ultimately what God calls us to fight against. The Old Testament people talked about it, Paul talked about it in the New Testament when he said that he has learned to be content in Philippians 4. In Hebrews 13 we’re reminded that, “Don’t love money; be satisfied with what you have. For God has said, ‘I will never fail you. I will never abandon you.’” We are called to learn the joy of contentment. But we’re bombarded with so much we can buy. Where does it end?
Adam Hamilton wrote it beautifully in the book that I just have to quote him. “Here’s what the devil knows: If he can can get you into debt, he can make you a slave. If he can convince you to spend all you have, you’ll never offer your tithes to God, never help the poor as you could have, and never use what you do have to accomplish God’s purposes. If he can tempt you to become a slave to creditors, you will not know simplicity, generosity, or joy. He will neutralize your effectiveness for the Kingdom and choke the gospel out of your life.”
What a brand new way of looking at what we consume. It’s so true, when I’m afraid of the end of the month coming, I know that I will put less in the food pantry box for El Rescate. When I buy that extra cup of coffee, or a combo meal, I’m not going to have any allowance left to help pay for education and food for the Compassion Child we sponsor. And if I’m worried about the grocery bill, I’m not going to give money towards wells in Africa. Jesus said it so clearly in Mark 8:36, “And what do you benefit if you gain the whole world but lose your soul?”
And that’s where Jesus offers us something else in our lives, the peace and life and light. Look at John 10:10 “My purpose it to give them a rich and satisfying life.” That what Jesus wants for you…are you there? In the next few weeks we are going to talk about how scripture can help us live in God’s simplicity and also some practical ways of living out God’s generosity.
Jesus provides us with guidance on how to live in Matthew 6:33 “Seek the Kingdom of God above all else, and live righteously, and He will give you everything you need.” In striving for God’s Kingdom, we can free ourselves financially and live simply. Now I’m not saying that doesn’t mean we can never spend or buy anything for ourselves, or that you have to cancel your vacation before you even put down the deposit. Rather, Jesus is telling us to put our lives in order first. Strive after Him and then let everything else fall into place. Pursue Jesus desire for our lives; He will help us simplify, and even silence the other voice in our heads telling us we need more. In putting Christ at the top of our lists, then we can build our lives and our budgets around Him.
Here are practical things you can do this week. Whenever you go to spend anything this week, ask yourself WHY?
Pull out your wallet. Now go ahead and pull out all your credit cards. Now imagine taking that stack of cards and putting them on your kitchen table or top shelf for an entire week. Does that make you afraid? Does that send a chill up your spine? Are you a slave to those cards?
Stay with us through this series as we talk about practical ways we can live in God’s Kingdom, how we can get our entire lives in order with God’s ways. Because we will discover God’s joy when we live with having ENOUGH, through SIMPLICITY and GENEROSITY.
Prayer – I invite you to put your hands on your lap, palms upright. And I invite you to say this prayer with me, just quietly under your breath: “Change my heart, oh God. Clean me out inside. Make me new. Heal my desires. Help me to hold my possessions loosely. Help me to love you. Teach me simplicity. Teach me generosity and help me have joy. I offer my life to you. In Jesus’ name. Amen.
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Wisdom and Finance
Outline
The plans of the diligent lead surely to abundance,
but everyone who is hasty comes only to want. (Proverbs 21:5)
Precious treasure remains in the house of the wise,
but the fool devours it. (Proverbs 21:20)
Where Did All Our Money Go?
The More We Make, the More We Waste
Impulse buying
Tips for avoiding impulse buying:
Eating out
The issue is frequency. The average American eats out an average of four times a week.3 By eating out less frequently, we will have more money to save, spend on something more important, or give away.
Clarifying Our Relationship With Money and Possessions
We do not exist simply to consume as much as we can and get as much pleasure as we can while we are here on this earth. We have a higher purpose. We need to know and understand our life purpose—our vision or mission or calling—and then spend our money in ways that are consistent with this purpose or calling.
Be Clear About Your Purpose and Calling
Our society tells us that our life purpose is to consume—to make as much money as possible and to blow as much money as possible. The Bible tells us that we were created to care for God’s creation. We were created to love God and to love our neighbors as ourselves. We were created to care for our families and those in need. We were created to glorify God, to seek justice, and to do mercy. Our money and possessions should be devoted to helping us fulfill this calling. We are to use our resources to help care for our families and others—to serve Christ and the world through the church, missions, and everyday opportunities. We have a life purpose that is greater than our own self-interests, and how we spend our God-given resources reflects our understanding and commitment to this life purpose or mission.
Set Worthy Goals
Being able to accomplish the greater purposes God has for our lives requires some measure of planning. Taking the time to set goals related to our lives and our finances is crucial if we are to become wise stewards of our God-given resources. Each of us should think about our life purpose and goals and then identify two short-term financial goals, two mid-range financial goals, and two long-term financial goals that are aimed at helping us to accomplish our broader life goals. At least one goal in each category should relate specifically to our faith. (Suggestion: Use the bulletin insert “My Life and Financial Goals Worksheet.”)
The Discipline of Managing Your Money
The Necessity of a Budget/Spending Plan
Once we have set some financial goals, we need to develop a plan to meet those goals. A budget is a spending plan that enables us to accomplish our goals. Some people use an envelope system to help them manage their saving and spending and stay on budget. Others use a variety of different approaches. Many people find it helpful to seek the advice of a financial advisor. For those who find themselves in the midst of a financial crisis, a financial counselor can help to work out terms with creditors and develop a workable financial plan. Whatever approach you choose, the important thing is simply to have a plan. (Suggestion: Show the video clip “Finding Financial Stability.”)
Six Financial Planning Principles
The following financial planning principles can help us to manage our money with wisdom and faith:
Pay your tithe and offering first.
Put God first in your living and your giving. Give your tithe and offering from the “top” of your paycheck, and then live on whatever remains.
Creating a budget is simply developing a plan in which you tell your money what you want it to do. Tracking your expenses with a budget is like getting on the scales: It allows you to see how you are doing and motivates you to be more careful with your expenditures. (Suggestion: Use the bulletin insert “Basic Budget Worksheet.”)
Because this discipline is critical to the success of any financial plan, next Sunday’s sermon will be devoted to this topic.
An emergency fund is an account separate from checking or long-term savings that is set aside specifically for emergencies. Dave Ramsey recommends beginning with $1,000 and building that to three months’ worth of income.4 When you have this amount, you won’t need to use your credit cards anymore.
As you are building your emergency fund, begin to pay off your credit card debt and start using cash or debit cards for purchases. Some experts suggest starting with the credit card that has the highest interest rate. Others suggest paying down the smallest debt first, experiencing that victory, and applying your payments from the first card to the second, and so on, creating a snowball effect to pay off the cards as soon as possible. Cut up your cards as you pay them down so that you are not trapped or leveraged by your future for present-day pleasure, as the prodigal son was. If you must use a credit card, such as when traveling or making purchases online, be sure to pay off the debt monthly. If you are unable to do this, then it is better for you to cut up your cards and stop using them altogether.
Saving money is the number-one wise money management principle everyone should practice. We do not save merely for the sake of saving. There is a word for that: hoarding. Hoarding is frowned upon in the Bible as the practice of fools and those who fail to understand the purpose of life. Saving, on the other hand, is meant to be purposeful. There are three types of savings we should have: 1) emergency savings, 2) savings for wants and goals, and 3) retirement savings.
Resources for Developing a Budget
http://www.crown.org/Tools/Calculators/Budgeting_SpendingPlan.asp
This is a fun and helpful budgeting calculator that automatically generates a suggested budget based upon the user’s inputs and Crown’s recommended expenditures.
http://crowncanada.ca/resources/CrownSpendingPlan2.pdf
This is another Crown resources site focused on budgeting and financial freedom. There is good information here.
Getting Out of Debt
Dave Ramsey’s Financial Peace University offers a great deal of online information including his approach to reducing debt found at this site: www.daveramsey.com/the_truth_about/get_out_of_debt_4055.html.cfm.
3 “Statistics About Eating Dinner Out,” by Magali Rheault, Kiplinger’s Personal Finance Magazine, October 2000; http://findarticles.com/p/articles/mi_m1318/is_10_54/ai_65368848?tag=content;col1.
4 The Total Money Makeover, by Dave Ramsey (Thomas Nelson, 2007); pp. 102–08.
Bulletin Insert/Sermon #2
My Life and Financial Goals Worksheet
How would you define or describe your life purpose?
What are three goals that can help you to achieve this life purpose?
What are some financial goals that can help to support your life goals and purpose?
Short-term financial goals (next 12 months):
1.
2.
Mid-range financial goals (2–5 years):
1.
2.
Long-term financial goals (5 years to retirement):
1.
2.
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Bulletin Insert/Sermon #2
Basic Budget Worksheet
Item Actual % Suggested %* Plan for next 12 months
Housing 25–35% ____________________
Transportation 10–15% ____________________
Charitable Gifts 10–12% ____________________
Food 5–15% ____________________
Saving 5–10% ____________________
Utilities 5–10% ____________________
Medical/Health 5–10% ____________________
Debt 5–10% ____________________
Clothing 2–7% ____________________
Miscellaneous 12–23% ____________________
*These percentages are adapted from Dave Ramsey’s The Total Money Makeover (Thomas Nelson, 2007).