Debt is a shortcut to the lifestyle you think you want but you can't afford.
Talking Points:
- Debt is a shortcut to the lifestyle you think you want. But in the end it always leads to bondage, not freedom. Luke 12:15, Proverbs 22:7, Matthew 6:24
- Attacking your debt will require a new skill: telling yourself “no”. Sacrifice now; benefit later.
- The simplest way to get out of debt is to use the “debt snowball”. Attack your smallest debts first, and then roll that debt payment to the next one.
Discussion:
- Initial reactions to this topic? What jumped out at you?
- What did your parents model for you about budgeting and debt? How has that influenced you as an adult?
- Read Luke 12:15 and Proverbs 22:7. Define greed in your own words. How has greed fueled your decisions regarding money? How has your debt limited you in other areas of your life?
- Share an impulsive purchase you made in the past and later regretted. What did you learn from that experience?
- Share a time you sacrificed or showed patience with a financial decision. What did you learn from that experience?
- What are some safeguards you could put in place before making a purchase that encourages patience and discourages impulsivity?
- Take a few minutes to identify your debts-small to big. How could you start saving to pay off the smallest debt? How will the “debt snowball” free you in every area of your life?
- Is there a step you need to take based on today’s topic?
