Sam and Erica's Marriage Podcast

Money in your marriage Part 2 of 4: Money - How do you see it?

Episode 002

January 21, 2019

1. Who we are

1. Money is a tool.

Money is not bad or evil.

1 Timothy 6:10 - For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.

Hebrews 13:5 - Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.

Ecclesiastes 5:10 - He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity.

You use it to build or destroy

Build wealth

Bless others

Buy more comforts

Do you want money to:

Live a certain lifestyle, buy nice things, a nice home, nice cars, etc.

Luxuries

Provide security

Emergency fund, college fund, retirement savings.

Debt

The Bible warns against debt

Proverbs 22:7 - The rich rules over the poor, and the borrower is the slave of the lender.

Proverbs 22:26 - Be not one of those who give pledges, who put up security for debts.

Hebrews 13:5 - Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.”

But we still use debt, why?

What is your attitude about debt?

Some people hate it

Some people love it

Some people accept it as “that’s just a part of life”

The normal American has $38,000 in debt, not including their mortgage.(CNBC)

Is all debt created equal? Good or bad:

Credit cards

Mortgage

Payday loans

Student loans

The Bible doesn’t discriminate

So should you use debt?

The amount of debt you have, as  a couple, coupled with the risk tolerance of each of you creates the formula for catastrophe in your marriage.

That’s a decision that should be made jointly.

Debt will impact other decisions. You may not be able to do things the way you would like to because of your debt and the obligation to make those payments.

Payments affect:

How you spend

How you save

How you give

I would sponsor a family at Christmas or help my children but...

So what do we do?

Discuss all debts

Only add new debt if both of you consider it and agree

Develop a plan to get out of debt that you agree on

No one would argue that the God’s perfect will is that we, his people, not be borrowers.

1. Plan a day to discuss all of your debt-may require getting a copy of your credit reports. Hear each other’s hearts about debt and develop a strategy to address what you uncover.

Budget - Excel spreadsheet http://www.christianswithambition.com/wp-content/uploads/2016/05/glbl-budget-template_v1_1.xls

Dave Ramsey - Total Money Makeover

The Total Money Makeover on Amazon

Money and Marriage God’s Way

Money and Marriage God's Way on Amazon

Next week we'll discuss how to save it.