WEBVTT 00:00:00.160 --> 00:00:02.319 Welcome to the Awakening Church podcast. 00:00:02.479 --> 00:00:07.040 We pray this message encourages you and provides the hope and light of Jesus Christ. 00:00:07.200 --> 00:00:08.640 Thanks for tuning in. 00:00:19.839 --> 00:00:26.000 Last week we asked this question: how do you get unstuck in the significant areas of life? 00:00:26.320 --> 00:00:28.480 Just a forecast a little bit ahead. 00:00:28.800 --> 00:00:31.920 Week four, we're going to talk about loneliness and friendship. 00:00:32.159 --> 00:00:35.600 Week five, how to get unstuck in relational conflict. 00:00:35.759 --> 00:00:42.000 Week six, unstuck when it comes to work and stress, work-life balance and demands. 00:00:42.159 --> 00:00:46.159 Today and next week, we're going to spend two weeks on this subject. 00:00:46.320 --> 00:00:50.880 We did a survey in the fall asking what's been most difficult for you this year. 00:00:51.039 --> 00:00:53.679 The number one answer was anxiety. 00:00:53.840 --> 00:00:57.920 We're going to do a whole series around that later on in the spring. 00:00:58.159 --> 00:01:04.079 The second thing that came up, the pressures and the demand, was this area of finances. 00:01:04.560 --> 00:01:09.519 Just financial pressures, stress, overwhelm. 00:01:09.920 --> 00:01:12.239 And we want to wrestle with this today. 00:01:12.480 --> 00:01:15.519 How do you get unstuck financially? 00:01:15.760 --> 00:01:26.719 We live, it's uh there's economic uncertainty, inflation, so just rising interest rate, housing market, just it's just still crazy. 00:01:27.040 --> 00:01:28.560 And tech layoffs. 00:01:28.719 --> 00:01:32.159 How do you get unstuck financially? 00:01:32.319 --> 00:01:38.959 And really, this question can you really experience financial freedom in the Silicon Valley? 00:01:39.680 --> 00:01:46.640 Like in the midst of all of that, can you really experience freedom financially? 00:01:46.959 --> 00:02:00.400 Now, before we dive into this conversation, or as we do, uh it's important to like uh build this one kind of fundamental idea when it comes to our finances. 00:02:00.719 --> 00:02:06.560 And it's simply this personal finances are more personal than financial. 00:02:07.280 --> 00:02:12.960 Your personal finances are far more personal than they are financial. 00:02:13.039 --> 00:02:19.840 And this is what makes it actually really difficult for us to talk about, to be open about, to get help in. 00:02:20.400 --> 00:02:23.759 Because it it feels so very personal. 00:02:23.919 --> 00:02:26.240 It feels exposing, doesn't it? 00:02:26.319 --> 00:02:27.120 Feels threatening. 00:02:27.199 --> 00:02:30.879 There's things that we go like, no, no, no, I'll just kind of hide that. 00:02:31.039 --> 00:02:34.400 Personal finance are deeply emotional, aren't they? 00:02:34.639 --> 00:02:49.919 Even as we begin to talk about uh finances today, it's like that comes with this feeling of stress for some walked-in pressure, feeling maybe discouraged, defeated, overwhelmed. 00:02:50.080 --> 00:02:54.319 Uh, it brings, can bring deep anxiety, right? 00:02:54.479 --> 00:03:00.159 Personal finances are more personal than they are financial. 00:03:00.560 --> 00:03:13.360 And so, as we dive into this, I want you just to simply go, okay, acknowledge that reality and go, okay, Heavenly Father, would you speak to me? 00:03:14.719 --> 00:03:18.479 Would you break down some of my defenses and my barriers? 00:03:18.639 --> 00:03:21.439 Because I really need some help. 00:03:21.680 --> 00:03:26.319 Today we're going to dive into the subject I'm calling the debt trap. 00:03:26.560 --> 00:03:27.759 The debt trap. 00:03:28.639 --> 00:03:31.599 America is a nation in debt. 00:03:31.840 --> 00:03:36.960 You've heard of doom scrolling, but what we've begun doing is doom spending. 00:03:37.360 --> 00:03:44.800 96% of Americans are concerned with the state of the economy, but continue to spend more and save less. 00:03:45.199 --> 00:03:51.680 73% of Gen Z would rather live in the moment than cut spending. 00:03:51.919 --> 00:03:56.719 What the result is we're ultimately undercutting our future. 00:03:58.159 --> 00:04:03.039 And there's this feeling of stress and anxiousness and discouragement. 00:04:03.439 --> 00:04:05.840 Total credit card debt in the U.S. 00:04:06.080 --> 00:04:08.719 has risen to$1.2 trillion. 00:04:09.199 --> 00:04:14.960 Average per household, not per person, per household, is$20,000 of credit card debt. 00:04:15.199 --> 00:04:20.560 49% of Americans carry debt month to month on at least one card. 00:04:20.800 --> 00:04:24.560 Now, to understand the impact of that, think about this. 00:04:24.720 --> 00:04:27.040 Interest rates right now have skyrocketed. 00:04:27.120 --> 00:04:35.759 They're at 20.74%, making the minimum payments on an average credit card balance, which is around$6,000 per credit card. 00:04:36.000 --> 00:04:46.480 It would take more than 17 years to pay off the debt and cost more than$9,000 in interest on that$6,000 loan. 00:04:47.839 --> 00:04:50.160 Anybody's stress starting to go up already? 00:04:50.639 --> 00:04:50.959 Okay. 00:04:51.199 --> 00:04:52.160 All right, yeah. 00:04:52.480 --> 00:04:56.319 Total student loan debt$1.6 trillion. 00:04:56.480 --> 00:04:59.680 Average student loans is about$55,000. 00:04:59.920 --> 00:05:02.800 Total auto loan debt is$1.6 trillion. 00:05:02.959 --> 00:05:08.399 Average household uh has uh spends about$35,000 in debt. 00:05:08.560 --> 00:05:13.519 Uh, Fortune magazine said consumers have been propping up the U.S. 00:05:13.680 --> 00:05:15.759 economy when no one else could. 00:05:16.000 --> 00:05:22.079 Now the debts are being called and they can't pay their bills. 00:05:23.040 --> 00:05:26.800 Now here's the incredibly good news. 00:05:27.600 --> 00:05:40.079 If you walked in stuck financially, if you walked in stressed financially, if you if you walked in and um, well, there's more months at the end of your paycheck. 00:05:40.399 --> 00:05:47.839 You've run to the end of your paycheck, but there's still days and you're trying to figure out how to get through it, and you live under this pressure. 00:05:48.160 --> 00:06:00.399 If there is this sense that your financial pressure is impacting the relationships that matter most, it's becoming arguments and fights maybe with your spouse or uh with your friends. 00:06:00.879 --> 00:06:03.360 The good news is God wants to help you. 00:06:03.680 --> 00:06:08.800 The good news is God wants to help you get unstuck. 00:06:09.439 --> 00:06:17.439 In fact, did you know in the book of Proverbs, somewhere around 130 Proverbs are all on finances? 00:06:18.000 --> 00:06:23.279 That's roughly about 14% of the entire book of Proverbs. 00:06:23.360 --> 00:06:34.000 And even the entire, well, the Bible, about a little over 2,500 verses on finances alone. 00:06:34.879 --> 00:06:41.040 Jesus is teaching the parables, roughly 40% of his parables were on finances. 00:06:41.439 --> 00:06:56.399 And here's the thing: God knows that finances, your personal finances, are more personal than it is financial, and it impacts you personally, and he wants to help you. 00:06:57.519 --> 00:07:03.519 And there's hope today to get out of the debt trap. 00:07:04.160 --> 00:07:24.959 And uh when I was uh newly married, uh, we were living in Chicago, I was finishing up school, and then I was part-time at a church, and Jenny and I were part of this small group, it was right downtown, as part of our um church, and they did this financial series, and I remember this still to this day. 00:07:25.120 --> 00:07:43.600 This set us up so well as we started off our marriage, and then they had us memorize this verse, and so we're like in our small group reciting it to each other and learning more about God's wisdom for our finances and how to steward our finances well. 00:07:43.759 --> 00:07:45.920 And this was the verse they had us memorize. 00:07:46.160 --> 00:07:50.720 The rich rule over the poor, and the borrower is slave to the lender. 00:07:50.879 --> 00:07:52.560 Will you go ahead and say that with me? 00:07:52.800 --> 00:07:58.480 The rich rule over the poor, and the borrower is slave to the lender. 00:07:59.120 --> 00:08:02.079 In fact, we're gonna be memorizing this together. 00:08:02.240 --> 00:08:08.160 I'm asking you to, you can do this just today during our time, you know, the few minutes we're together, right? 00:08:08.319 --> 00:08:12.639 But would you review it daily, keep it in front of you? 00:08:12.800 --> 00:08:15.519 Now, here's what the wisdom of God says. 00:08:15.759 --> 00:08:24.560 Because in our day, the way we think about debt, consumer debt and even credit card debt, is this idea that it is a pathway to freedom. 00:08:25.040 --> 00:08:32.559 It's the pathway and opens doors and unlocks things that we were unable previously to get, to have. 00:08:33.200 --> 00:08:44.000 And what he's saying here is not that debt is necessarily prohibited or wrong, but we ought to be very cautious in accumulating or acquiring debt. 00:08:44.240 --> 00:08:44.639 Why? 00:08:44.799 --> 00:08:57.279 Because debt fundamentally, at some point, isn't necessarily this pathway per se to freedom, but it can very, in very reality, become a chain to bondage, can't it? 00:08:58.000 --> 00:09:02.000 And that's where I think many of us have walked in. 00:09:02.799 --> 00:09:04.480 Why is it, by the way? 00:09:04.720 --> 00:09:08.720 Why is it that smart people get stuck in the debt trap? 00:09:09.039 --> 00:09:14.960 Silicon Valley is filled with some of the smartest and the brightest, above average people. 00:09:15.279 --> 00:09:18.720 You're an above-average church. 00:09:19.200 --> 00:09:24.080 But why is it so many of us get caught in this debt trap? 00:09:24.240 --> 00:09:36.320 I mean, we just read the stat that roughly uh$1.2 trillion in just credit card debt alone. 00:09:37.600 --> 00:09:46.720 Well, I want to give us four big reasons we get into this trap and then applications along the way to help us break free. 00:09:47.200 --> 00:09:52.559 The first big reason for we get stuck in the debt trap is stinking thinking. 00:09:52.960 --> 00:09:53.840 Stinkin' thinking. 00:09:54.000 --> 00:09:56.720 Go ahead, turn to your neighbor, say that's some stinking thinking. 00:09:59.279 --> 00:10:10.559 The reality when it comes to our finances is um we've either either received bad advice or we never got any good direction to begin with. 00:10:10.720 --> 00:10:17.679 And most of us, many of us, didn't have family that taught us how to steward our finances well. 00:10:17.919 --> 00:10:21.679 Let me give you some examples of some stinking thinking. 00:10:21.840 --> 00:10:27.360 Well, well, one one might be um, I apologize, but this is what it's called. 00:10:27.519 --> 00:10:29.039 Um, girl math. 00:10:29.120 --> 00:10:29.840 Have you heard? 00:10:34.559 --> 00:10:42.799 If something is a hundred dollars and it's thirty percent off, let me ask you a question. 00:10:44.240 --> 00:10:46.639 Did you save money? 00:10:47.360 --> 00:10:51.440 Did you make I heard a yes, did you make money? 00:10:52.799 --> 00:10:54.799 Or did you spend money? 00:10:56.320 --> 00:11:00.000 See, there's there's thinking thinking that like, hey, you know what? 00:11:00.080 --> 00:11:01.440 It's 30% off. 00:11:01.679 --> 00:11:03.360 I saved money. 00:11:03.679 --> 00:11:05.120 I saved$30. 00:11:05.600 --> 00:11:06.399 Here's the other thing. 00:11:06.480 --> 00:11:07.600 This is crazy though. 00:11:07.840 --> 00:11:10.559 Some of you are like, I made money. 00:11:11.120 --> 00:11:12.559 I did, I made it. 00:11:12.799 --> 00:11:16.399 Because this this this is$100, I got it for$70. 00:11:18.080 --> 00:11:19.519 It's stinking thinking. 00:11:19.600 --> 00:11:22.879 The reality is, is you spent$70. 00:11:23.440 --> 00:11:25.919 You didn't save money, you spent money. 00:11:26.000 --> 00:11:27.120 They're stinking thinking. 00:11:27.279 --> 00:11:29.039 Let me give you a few others. 00:11:29.200 --> 00:11:32.639 Uh, there is a popular way to purchase things now. 00:11:32.720 --> 00:11:38.320 Uh, the acronym or the initials is BNPL. 00:11:39.440 --> 00:11:42.639 Buy now, pay later. 00:11:43.279 --> 00:12:04.000 This is now being called Phantom Debt because it's actually not uh regulated right now by uh the overarching credit bureaus, so they really have no idea how much uh there is out there, and so it's not being regulated for your own sake, whether you can get this or not. 00:12:04.399 --> 00:12:10.080 It's roughly experts think it's growing about 14% annually in our nation. 00:12:10.639 --> 00:12:12.000 Buy now, pay later. 00:12:12.080 --> 00:12:12.720 What a great idea. 00:12:12.879 --> 00:12:15.440 By the way, in the old days they had layaway. 00:12:15.840 --> 00:12:23.200 Layaway, you just didn't get it and you paid for it, and you just added to it until you could pay for it and bring it home. 00:12:23.360 --> 00:12:26.799 Now it's by now, I'm gonna take it home and then I'll pay later. 00:12:26.879 --> 00:12:28.879 And the problem is we're paying. 00:12:29.519 --> 00:12:34.720 We're paying later far more, and it's killing us. 00:12:34.960 --> 00:12:48.639 Uh, another one when it comes to stinking thinking is uh for some, when it comes to building your credit, you thought carrying a balance on your credit card actually builds credit. 00:12:49.440 --> 00:12:51.039 It doesn't. 00:12:51.759 --> 00:12:55.279 It doesn't, it just makes you pay interest. 00:12:55.679 --> 00:12:56.000 Okay? 00:12:56.559 --> 00:12:58.320 There's just things along this line. 00:12:58.639 --> 00:12:59.679 Paying the minimum. 00:12:59.840 --> 00:13:02.080 Like, well, all I need to do is pay the minimum. 00:13:02.240 --> 00:13:02.720 Look at this. 00:13:02.879 --> 00:13:05.759 I can buy all these sort of things, and the minimum is only$20. 00:13:06.080 --> 00:13:07.200 The minimum's only$40. 00:13:07.679 --> 00:13:13.120 Yes, I got$2,000, and you don't realize 20% charge there. 00:13:13.200 --> 00:13:16.720 It's stinking, thinking, and it's killing us. 00:13:16.960 --> 00:13:27.279 Proverbs 3, 13 through 15 says this blessed are those who find wisdom, those who gain understanding, for she is more profitable than silver and yields a better return than gold. 00:13:27.440 --> 00:13:30.000 She is more precious than rubies. 00:13:30.159 --> 00:13:33.440 Nothing you desire can compare with her. 00:13:34.720 --> 00:13:42.320 Now, here's what the Proverbs saying and telling us wisdom is more valuable than wealth. 00:13:43.279 --> 00:13:51.600 In fact, for many of us where we're stuck financially, the answer and the solution often isn't making more. 00:13:52.559 --> 00:13:53.840 Or like when I make more. 00:13:53.919 --> 00:13:59.519 The problem is when you make more, you spend more because you didn't change any of your habits. 00:13:59.759 --> 00:14:04.480 Smart people know the right things to do, wise people do the right things. 00:14:04.720 --> 00:14:08.240 Wisdom is far more valuable than wealth. 00:14:08.399 --> 00:14:19.039 And so instead of trying to wear yourself out to make more, would you spend your energy, your effort into becoming wiser? 00:14:19.840 --> 00:14:23.759 Because it will pay off in the end. 00:14:24.159 --> 00:14:25.440 And so here's the application. 00:14:25.679 --> 00:14:29.919 Would you be an avid learner and then get into awakening small group? 00:14:30.879 --> 00:14:35.200 And yes, this is gonna be a commercial right now for an awakening small group. 00:14:35.279 --> 00:14:36.240 Here we go. 00:14:36.559 --> 00:14:46.159 Just like when my wife and I we started off, we got in a small group, we began to talk finances, and it set us up. 00:14:47.200 --> 00:14:57.440 And here's what I'm excited about is as we do this together as a church, we actually invested in a curriculum for us to grow as a church. 00:14:57.519 --> 00:15:02.720 Because you said this is one of the big areas, this is one of the big pain points, this is the big stressor. 00:15:02.799 --> 00:15:04.879 And I get it, the Silicon Valley. 00:15:05.200 --> 00:15:06.879 It cost a lot here. 00:15:07.679 --> 00:15:10.799 And so we invested uh in this curriculum freed up. 00:15:11.120 --> 00:15:16.399 It comes with an incredible app, and it's app driven, and then it has this workbook. 00:15:16.559 --> 00:15:21.440 And what's beautiful about the curriculum is it's not a one size fits all. 00:15:21.600 --> 00:15:29.279 So some of you walked in and you're just you have a lot of consumer debt, and you're needing some help in how to get out of that. 00:15:29.440 --> 00:15:31.039 Well, it's got to track for that. 00:15:31.200 --> 00:15:38.480 Some of you are in the place where you know what, we have pretty good practices, but we want to learn and grow how to become better stewards and investors. 00:15:38.639 --> 00:15:40.000 It's got a track for that. 00:15:40.159 --> 00:15:48.639 Some of you are in a different stage where, wow, you've done really well in life and you have extra, you know, uh discretionary funds. 00:15:48.720 --> 00:15:49.919 It's got a track for that. 00:15:50.000 --> 00:15:58.480 In fact, it takes through the app this this great um assessment to help uh tailor the content to you. 00:15:59.039 --> 00:16:00.799 Would you get in a small group? 00:16:01.120 --> 00:16:02.960 Would you grow in community? 00:16:03.440 --> 00:16:04.080 Yes. 00:16:04.720 --> 00:16:08.159 Personal finances far more personal than financial. 00:16:08.960 --> 00:16:16.000 Would you personally get in a freed up community and grow this year? 00:16:16.159 --> 00:16:16.480 Why? 00:16:16.639 --> 00:16:20.080 Because wisdom is far more valuable than wealth. 00:16:20.240 --> 00:16:24.799 Uh, the first thing that's keeping us stuck in the debt trap is stinking thinking. 00:16:24.879 --> 00:16:27.200 The second is unexpected storms. 00:16:28.240 --> 00:16:29.679 Life happens. 00:16:30.240 --> 00:16:34.720 And life happens at the most unconvenient worst times, doesn't it? 00:16:35.200 --> 00:16:40.559 It's the hospital bills, the health crisis, the car breaks down, the loss of your job. 00:16:41.120 --> 00:16:44.639 64% of Americans live paycheck to paycheck. 00:16:45.039 --> 00:16:49.440 58% bridge the gap of making ends meet with their credit card. 00:16:49.759 --> 00:16:54.960 57% of Americans can't afford a thousand dollar emergency. 00:16:55.600 --> 00:17:00.080 If that emergency costs$1,000, they're gonna have to put it on a credit card. 00:17:00.320 --> 00:17:05.920 68% are worried they couldn't cover expenses for one month. 00:17:06.240 --> 00:17:15.680 Gen Z, by the way, 85% of Gen Z very concerned that they about covering a financial emergency expense. 00:17:15.920 --> 00:17:18.480 Millennials, 79% are. 00:17:18.799 --> 00:17:23.119 Proverbs 22, 23 says, be sure to know the condition of your flocks. 00:17:23.359 --> 00:17:25.440 Give careful attention to your herds. 00:17:25.599 --> 00:17:29.680 Now, this isn't talking like pastorally flocks, well, past different pastoral. 00:17:29.759 --> 00:17:30.559 Yeah, you know what I mean. 00:17:30.720 --> 00:17:32.000 This is talking financially. 00:17:32.079 --> 00:17:35.119 That was the basis of your wealth in the ancient day. 00:17:35.279 --> 00:17:39.440 For riches do not endure forever, and a crown is not secure for all generations. 00:17:39.680 --> 00:17:43.359 You don't just assume because you have it, you always always have it. 00:17:44.000 --> 00:17:46.559 You make plans, you make preparation. 00:17:48.400 --> 00:17:50.880 Unexpected storms happen. 00:17:51.119 --> 00:17:52.640 And so, application. 00:17:52.960 --> 00:17:57.359 Before you spend on your wants, save for a rainy day. 00:17:58.000 --> 00:18:01.599 Before you spend on your wants, save for a rainy day. 00:18:01.759 --> 00:18:06.000 Now that begs the question: what is the difference between a want and a need? 00:18:06.160 --> 00:18:08.319 I'm so glad you asked. 00:18:09.680 --> 00:18:18.000 Because we are going into debt, we are becoming slaves of debt. 00:18:18.960 --> 00:18:20.640 Because of our wants. 00:18:21.599 --> 00:18:22.960 Because of our wants. 00:18:23.119 --> 00:18:25.039 Now let me tell you how this gets confused. 00:18:25.200 --> 00:18:28.640 A year ago, um, I needed to buy a new TV. 00:18:33.680 --> 00:18:35.359 You don't even flinch. 00:18:37.680 --> 00:18:41.519 Does anyone need to buy a new TV? 00:18:42.240 --> 00:18:45.039 Does anyone need to buy a TV? 00:18:46.000 --> 00:18:49.119 Does anyone need a new phone? 00:18:51.759 --> 00:18:54.079 Someone said that begrudgingly, by the way. 00:18:54.400 --> 00:18:54.720 No. 00:19:00.640 --> 00:19:02.799 We confuse our needs and our wants. 00:19:02.880 --> 00:19:05.759 Our needs are our basic necessities. 00:19:06.240 --> 00:19:08.799 Food, water, shelter. 00:19:10.160 --> 00:19:14.240 But then we're like, okay, well, I want to look this way. 00:19:14.480 --> 00:19:16.319 I want to drive this. 00:19:18.480 --> 00:19:21.519 I want to, you know, be able to go out to eat here. 00:19:21.680 --> 00:19:22.880 And those are all fine. 00:19:23.039 --> 00:19:23.920 Those are all good things. 00:19:24.079 --> 00:19:25.680 There's nothing bad or wrong with that. 00:19:26.000 --> 00:19:32.720 But when we're caught in the debt trap before you spend on your wants, save for a rainy day. 00:19:32.880 --> 00:19:34.960 Now, here's what I want you to do. 00:19:35.200 --> 00:19:39.920 I want you to save$1,000 as quickly as you can. 00:19:40.960 --> 00:19:42.720 Some of you that you already have this. 00:19:42.799 --> 00:19:43.200 Wonderful. 00:19:43.359 --> 00:19:44.960 Give yourself a pat on the back. 00:19:45.200 --> 00:19:49.039 Many of us in this room, you don't have$1,000 saved up. 00:19:49.200 --> 00:19:53.279 Now, you don't save it up and then you have something that you really want and you spend it. 00:19:53.440 --> 00:19:55.200 No, you just hold it there. 00:19:55.920 --> 00:19:57.599 It's an emergency fund. 00:19:57.839 --> 00:19:59.119 It's for a rainy day. 00:19:59.200 --> 00:20:01.279 It's for when the car breaks down. 00:20:01.599 --> 00:20:04.880 It's for when there's a medical bill. 00:20:05.279 --> 00:20:10.559 And you can get to a hundred or a thousand dollars really quickly. 00:20:10.799 --> 00:20:18.000 I mean, even if you can only do a hundred dollars a month, how long will it take you to get a thousand dollars? 00:20:18.880 --> 00:20:21.200 Not a trick question. 00:20:22.079 --> 00:20:23.440 Ten months. 00:20:24.079 --> 00:20:28.319 So by the end of the year, you feel strapped, you could figure this out. 00:20:28.880 --> 00:20:32.640 The second thing I want you to do is build a three-month emergency fund. 00:20:33.599 --> 00:20:35.519 This is gonna take much longer. 00:20:36.640 --> 00:20:44.400 But do this because many people, and then we had this in this uh the tech layoff, what is that had been happening? 00:20:45.039 --> 00:20:47.680 And then there's this uncertainty, concern. 00:20:48.480 --> 00:20:52.480 You just begin to put this away and save for a rainy day. 00:20:52.559 --> 00:21:00.480 Uh the first reason we get stuck in the debt trap is stinking thinking, the second is unexpected storms, the third is the imposter syndrome. 00:21:00.720 --> 00:21:02.000 The imposter syndrome. 00:21:02.079 --> 00:21:04.240 This is the high cost of looking good. 00:21:04.559 --> 00:21:07.039 This is keeping up with the Joneses. 00:21:07.359 --> 00:21:09.839 And by the way, this is fascinating. 00:21:10.079 --> 00:21:13.839 This is a human thing, not a modern thing. 00:21:14.079 --> 00:21:17.119 Notice what the proverbs 13, 7 says. 00:21:17.359 --> 00:21:21.200 One person pretends to be rich yet has nothing. 00:21:21.599 --> 00:21:26.960 Another pretends to be poor, yet has great wealth. 00:21:27.200 --> 00:21:36.640 And today, this generation at 20 wants to live at a level that it took the previous generations 20 years to get to. 00:21:36.880 --> 00:21:43.200 We want to be able to travel, we want to be able to go to these uh dining, you know, find dining. 00:21:43.519 --> 00:21:48.160 Jeez, man, the Instagram blowing up on the food scene is incredible. 00:21:48.480 --> 00:21:51.440 And where you're traveling is unbelievable. 00:21:52.400 --> 00:21:59.440 But if it's going on the credit card, it's under ultimately undermining your financial future. 00:22:00.160 --> 00:22:09.920 Another proverb says, Proverbs 21:17 says, Whoever loves pleasure will become poor, whoever loves wine and oil will never be rich. 00:22:10.880 --> 00:22:12.079 There's this great book. 00:22:12.160 --> 00:22:13.279 It's an older book. 00:22:13.359 --> 00:22:16.720 It's been uh uh reproduced. 00:22:16.799 --> 00:22:18.880 What is it when you reproduce reprint? 00:22:19.279 --> 00:22:20.480 Anyways, forget it. 00:22:20.640 --> 00:22:24.880 Uh it's called The Millennium The Millionaire Next Door. 00:22:25.359 --> 00:22:28.240 I encourage you, if you're interested in what we're talking about, just read. 00:22:28.319 --> 00:22:29.759 It's not a Christian book by any means. 00:22:29.839 --> 00:22:40.960 Um, The Millionaire Next Door and his premises is that those who are actually have wealth, who are millionaires, they often don't look like your typical millionaire. 00:22:41.200 --> 00:22:53.200 And the people who look at, they they drive the G-Wagon, they they wear the fit, they're traveling, they're posting, they're actually quite poor. 00:22:54.720 --> 00:22:56.400 They're overextended. 00:22:56.640 --> 00:23:14.640 The millionaire next door wears pretty plain clothes, drives a generally a beat-up old car, uh, lives in a modest house, owns all of these things, and ultimately, fundamentally, uh lives below their means, saves regularly, and invests wisely. 00:23:14.720 --> 00:23:17.440 We'll talk more about that next week. 00:23:17.759 --> 00:23:19.440 The imposter syndrome. 00:23:19.599 --> 00:23:21.839 It's keeping up with the Joneses. 00:23:22.319 --> 00:23:27.279 It's I have to, you know, drive this, go here, eat there. 00:23:28.400 --> 00:23:32.559 I mean, just I I'm amazed, okay, I'm getting on a little soapbox. 00:23:32.640 --> 00:23:34.480 I'm amazed about the shoe game. 00:23:36.160 --> 00:23:38.000 This is crazy. 00:23:38.799 --> 00:23:43.680 I my I have some boys that are really into shoes, one in particular, so I'm learning about it. 00:23:43.759 --> 00:23:46.400 And like the shoe game is crazy. 00:23:47.119 --> 00:23:47.759 Right? 00:23:48.960 --> 00:23:49.759 Some of you don't know. 00:23:49.839 --> 00:23:55.599 I mean, the Nikes and like uh the the what is it, the Jeezy? 00:23:55.920 --> 00:23:58.240 No, no, uh huh? 00:23:58.880 --> 00:23:59.759 Yeezys, thank you. 00:23:59.839 --> 00:24:07.839 The Yeezys and Miles, he he'll point these out. 00:24:07.920 --> 00:24:10.720 We'll be walking around, he's like, that's a$700 pair of shoes. 00:24:10.799 --> 00:24:12.240 That's a$1,000 pair of shoes. 00:24:12.400 --> 00:24:17.440 He's got he knows all these things, and looking at it, and I'm like, why are you wearing that out? 00:24:20.640 --> 00:24:25.359 Go invest it somewhere, stop wearing it on your feet. 00:24:26.960 --> 00:24:36.640 But here's what happens we earn and consume, and we earn and consume, and so we're stuck on this earn-consume treadmill. 00:24:36.960 --> 00:24:38.960 And we can never get ahead. 00:24:39.119 --> 00:24:44.400 Is the problem the high cost of living or the cost of high living? 00:24:45.200 --> 00:24:46.400 Is it right? 00:24:46.799 --> 00:24:51.440 So the application, stop buying things you can't afford. 00:24:53.119 --> 00:25:00.160 I know it's simple, it's so obvious, but just stop buying things you can't afford. 00:25:00.480 --> 00:25:04.799 What if you before you bought it, you asked, can I afford it? 00:25:06.319 --> 00:25:12.319 Not can I put it on credit, not can I pay little installments over the course of time. 00:25:12.640 --> 00:25:15.039 Can I actually afford this? 00:25:15.200 --> 00:25:20.079 All right, what keeps us stuck in the debt traps, stinking thinking, unexpected storms, imposter syndrome? 00:25:20.319 --> 00:25:26.400 Finally, if imposter syndrome wasn't enough, death by subscription. 00:25:29.119 --> 00:25:31.200 Death by subscription. 00:25:32.400 --> 00:25:36.559 Uh the subscription economy has become the new way uh in our day. 00:25:36.720 --> 00:25:41.119 In 2021, it was a$72 billion industry globally. 00:25:41.920 --> 00:25:45.200 Last year, 2023, is$165 billion. 00:25:45.359 --> 00:25:49.920 Experts are estimating by 2026 it will be$902 billion industry. 00:25:50.000 --> 00:26:00.720 This is the way uh industry is moving, and and it makes sense because if I tell you the full cost of something up front and you have to pay for it, then you have to actually count the cost. 00:26:00.880 --> 00:26:16.240 But if I can tell you for$999, and then what experts are telling us is not only is it advantageous, but it takes advantage of the um inattentive uh consumer. 00:26:16.480 --> 00:26:20.079 And how many of you okay, let's get personal. 00:26:20.240 --> 00:26:25.839 Uh, yesterday the NFL um I heard an oomph, right? 00:26:25.920 --> 00:26:32.400 Because Peacock, Peacock, they they showed the NFL uh playoff game, and some of you don't even care. 00:26:32.480 --> 00:26:34.720 That's wonderful, good for you, you're more godly. 00:26:34.799 --> 00:26:41.200 Uh, they showed the NFL game on Peacock, and how many were like, I'm I'm I'm gonna subscribe. 00:26:41.359 --> 00:26:42.400 I'm gonna subscribe. 00:26:42.480 --> 00:26:47.200 They're gonna give me a free month, and they give you that free month or the free three months, and what do you do? 00:26:47.519 --> 00:26:48.480 You forget. 00:26:49.359 --> 00:26:51.759 And then there's this death by subscription. 00:26:52.000 --> 00:27:02.319 We have so many subscriptions that are ongoing that you totally forgot about, and that you are being nickel and dimed to death. 00:27:03.519 --> 00:27:11.759 Uh Proverbs 13, 11 says, dishonest money dwindles away, but whoever gathers it little by little makes it grow. 00:27:12.000 --> 00:27:16.319 The problem is we tend to overvalue the big and undervalue the little. 00:27:17.039 --> 00:27:18.880 It's just a little thing. 00:27:20.640 --> 00:27:24.960 Uh, when we were first married, you know, you're in the honeymoon phase and we came back. 00:27:25.119 --> 00:27:28.720 We uh one day, many of you know the story of we had the honeymoon from hell. 00:27:28.799 --> 00:27:29.519 That's a fun story. 00:27:29.599 --> 00:27:30.720 This is for another day. 00:27:30.960 --> 00:27:43.039 Um, but we get back from our honeymoon and you're still kind of in the honeymoon, you know, glow, and I I like mochas, and so I was having a mocha from Starbucks every day. 00:27:43.599 --> 00:27:45.039 Yeah, wow. 00:27:46.720 --> 00:27:49.440 Talk about a way to get poor quick. 00:27:50.559 --> 00:27:52.480 But we don't think about it. 00:27:52.799 --> 00:27:54.400 I I did the quick math. 00:27:54.559 --> 00:28:04.319 Um so if you have a coffee, daily coffee habit, anywhere between five and ten dollars uh at the five dollar rate, uh, that's eighteen hundred doll annually. 00:28:04.480 --> 00:28:09.119 At the ten dollar rate, that's thirty, six hundred dollars in change annually. 00:28:10.079 --> 00:28:11.680 It just adds up. 00:28:12.000 --> 00:28:17.680 And we don't pay attention to it, and it just gets leaked out of our wallet. 00:28:17.839 --> 00:28:20.400 We tend to overvalue the big and undervalue the little. 00:28:20.480 --> 00:28:24.319 We'll talk more about that when it comes to investing next week. 00:28:24.640 --> 00:28:28.079 Application, sweat the small stuff. 00:28:28.480 --> 00:28:30.319 Sweat the small stuff. 00:28:30.640 --> 00:28:33.920 Application, go through your subscriptions. 00:28:35.359 --> 00:28:42.400 Especially, by the way, if you are in consumer credit debt and you're going like, I'm just paying the minimum. 00:28:42.880 --> 00:28:44.160 Go through your subscription. 00:28:44.240 --> 00:28:52.000 By the way, uh, you don't need an Apple account, Netflix account, a YouTube account, um, a Peacock account, Disney, thank you. 00:28:52.160 --> 00:28:54.000 Um anyway, come on, come on. 00:28:54.960 --> 00:29:00.400 Hulu, Cinemark, Cinemark, whatever, Cinemark, Spotify. 00:29:02.720 --> 00:29:03.279 Yeah. 00:29:05.119 --> 00:29:07.759 I mean, think about how many there are. 00:29:09.920 --> 00:29:18.160 And on average, when you spend with a credit card instead of cash, you spend 10 to 15% more than you would. 00:29:18.559 --> 00:29:20.400 So we just automatically are spending more. 00:29:20.559 --> 00:29:27.039 When it's one quick away, when it's one swipe away, when Amazon says just swipe your finger that way, I'm like, hello, yeah, deliver tomorrow. 00:29:27.119 --> 00:29:28.160 Thank you very much. 00:29:29.680 --> 00:29:31.759 And we just get caught up in this. 00:29:32.079 --> 00:29:32.400 Okay? 00:29:33.599 --> 00:29:36.720 Why do smart people get stuck in the debt trap? 00:29:36.880 --> 00:29:38.559 Well, there's four big reasons. 00:29:38.720 --> 00:29:45.200 One, stinking thinking, unexpected storms, imposter syndrome, and then death by subscription. 00:29:45.440 --> 00:29:47.519 Here's what I want us to do this week, all right? 00:29:47.759 --> 00:29:49.839 Memorize Proverbs 22, 7. 00:29:50.000 --> 00:29:53.759 The rich rule over the poor, the borrower is slave to the lender. 00:29:54.160 --> 00:29:58.640 Get in a group, get in a group, sign up today. 00:29:58.880 --> 00:30:08.640 And then if you are in the debt trap, would you make getting out of destructive debt your number one priority this year? 00:30:10.400 --> 00:30:15.279 Man, I know some of you are just you you walked in heavy. 00:30:16.160 --> 00:30:29.440 It's the stress living paycheck to paycheck, like not knowing if you're gonna be able to cover if something happens. 00:30:30.240 --> 00:30:31.359 It's a lot. 00:30:32.880 --> 00:30:35.039 And here's what I just want to close with you. 00:30:35.119 --> 00:30:36.240 There's hope. 00:30:36.880 --> 00:30:45.519 Because I one of the big emotions that we feel when we're caught in the debt trap is discouragement and defeatedness. 00:30:46.880 --> 00:30:48.480 I'll never get out. 00:30:48.799 --> 00:30:50.000 I'm stuck. 00:30:50.319 --> 00:30:52.160 This is just the way it is. 00:30:52.319 --> 00:31:10.799 I remember years ago, I was meeting with a uh a young man, he was in his mid-20s, and I'm not even sure how the subject of finances got up, but we started talking about it and uh talk about like he just had never been told, and you know, he didn't know kind of some of the financial things. 00:31:10.880 --> 00:31:11.920 No one ever taught him. 00:31:12.000 --> 00:31:23.599 And and uh he had recently got some money, some not quite inheritance, but a sum of money, and he he had you know three or so credit cards, and then he had a car payment. 00:31:23.759 --> 00:31:26.960 Well, he's like the car payment's bigger, I'm gonna pay that all off. 00:31:27.119 --> 00:31:27.920 And he did. 00:31:28.079 --> 00:31:29.839 And then we had that conversation. 00:31:30.000 --> 00:31:39.119 I said, Well, actually, the percentage that you have to pay on your car payment is so much lower, and your credit card's charging you 20%. 00:31:40.079 --> 00:31:42.400 Let's pay that off first. 00:31:43.119 --> 00:31:50.880 Well, then we began to work on that, you know, and honestly, I asked him, like, how long do you think it'll take you to get out of credit card debt? 00:31:51.039 --> 00:31:52.960 And he's like, I don't know, long time. 00:31:53.359 --> 00:31:55.119 And said, Okay, well, let's just start. 00:31:55.279 --> 00:31:57.359 And we did something called the debt snowball. 00:31:57.440 --> 00:32:11.839 And actually, if you're going through Freed Up, they'll talk through it where you take the smallest uh debt that you have, the smallest credit card, you attack it, you get it done first, and then you take whatever you're spending on that and roll that into your next credit card, and you just build some good momentum. 00:32:11.920 --> 00:32:12.960 So we're doing that. 00:32:13.039 --> 00:32:24.319 But but it was interesting as I remember walking in seeing him, uh, and we're working on getting out credit card debt, and I noticed he had a brand new uh iPhone and then and then brand new shoes. 00:32:24.640 --> 00:32:30.640 And I'm like, man, why wait, you have a brand new iPhone and brand new shoes. 00:32:30.720 --> 00:32:32.240 How did you pay for that? 00:32:33.039 --> 00:32:35.599 Well, on my credit card. 00:32:36.720 --> 00:32:45.680 And here's the reality is those are just habits that we have, and we live in a culture that says you need what's new. 00:32:46.640 --> 00:32:48.559 You gotta have what's new. 00:32:48.799 --> 00:32:50.960 What's old is obsolete. 00:32:52.000 --> 00:32:54.240 You need the next new thing. 00:32:54.319 --> 00:32:57.119 And so I said, God, God, you gotta stop that. 00:32:58.480 --> 00:33:00.240 Okay, and he got it. 00:33:00.960 --> 00:33:07.920 And what felt overwhelming, impossible, like this is just a way of life. 00:33:08.079 --> 00:33:08.720 It was incredible. 00:33:08.880 --> 00:33:10.480 Six months later, he was dead free. 00:33:12.400 --> 00:33:15.440 And for some of you, that's the word of hope you need. 00:33:16.960 --> 00:33:20.480 Because just getting started feels like a lot, doesn't it? 00:33:20.799 --> 00:33:21.920 And I get it. 00:33:23.119 --> 00:33:24.400 But get started. 00:33:25.119 --> 00:33:29.839 What I like to say is don't delay what you can do today. 00:33:30.480 --> 00:33:31.119 Get started. 00:33:31.440 --> 00:33:35.680 There's hope and you can get free of the dead trap. 00:33:35.920 --> 00:33:37.519 Won't you stand and we'll pray? 00:33:40.480 --> 00:33:51.759 Oh Jesus, thank you that you do not leave us on our own to figure things out and actually you want us to flourish. 00:33:53.039 --> 00:33:59.759 And when it comes to this deeply personal issue of our finances, you want us to flourish. 00:34:03.599 --> 00:34:17.519 God, I just pray for my friends today, especially that walked in, just under that weight, the pressure, it feels maybe insurmountable, but breathe hope, breathe life. 00:34:18.639 --> 00:34:20.960 And would you give them the wisdom to know what to do? 00:34:21.039 --> 00:34:24.800 That means doing the right thing and the courage to do it. 00:34:25.119 --> 00:34:26.400 In Jesus' name. 00:34:27.360 --> 00:34:28.000 Amen. 00:34:29.920 --> 00:34:32.239 We hope you are blessed by this message. 00:34:32.400 --> 00:34:36.880 Please subscribe to our podcast for access to every episode as they're uploaded. 00:34:37.039 --> 00:34:39.119 And hey, we'd love to connect with you. 00:34:39.280 --> 00:34:45.039 Take a next step by filling out our virtual connection card at awakening church.com slash card.