Financial Freedom

Linda Financial Freedom
September 8, 2002

Some of you might remember our friend Linda from the Larry Burkett class Susan and I led here a couple of years ago. Linda came to that even though she regularly attends a different church. She's been a good friend of ours for years and even lived in our basement for awhile. We've gone on lots of adventures with her. In 1998, we hiked over the Chilkoot Pass. Several people were supposed to go, including a guy who went walking with me months in advance to get in shape for the hike. Well, at the last minute he backed out and it ended up being me and five women. I could have choked him!

Several years ago, a friend invited Susan and me to attend a class he was teaching on Christian financial principles. We knew the friend had taken the class himself a few years before and had gotten out of debt as a result of what he learned. I thought that was quite an accomplishment considering he supported his wife and three kids on a teacher's salary. Susan really wanted me to go. She had been encouraging me to get out of debt, and though that if I realized that God agreed with her, I might be more motivated.

As a result of that class, I finally made the commitment to do what it took. I was surprised that it didn't take as long as I thought it would. The rewards have been well worth the trouble, and I have to admit, on this Susan was right.

In 2000, we gave the same class here. Some of you were there. Linda decided back then it was time to get out of debt. She's moving to Hawaii in a couple of weeks, so I've asked her to come and share what's happened in her life the past couple of years.

Linda:

Albert Einstein once said that the greatest force in the world is that of compound interest.

I am living a new life of freedom in Christ as a debt free person. It has been a long, painful process but after three years, I'm there. God has been in the center of this process and I've had solid support from some friends.

I began thinking about getting out of debt months before the class, but the process really began when I attended the Larry Burkett class on money management. It was like a slap in the face, shock reality. It was painful. I became depressed to the point of tears. I hurt. I moved through that knowing I wanted to get out of debt. I was a slave to my credit cards. Not just one or two but four. So I sat down and began the painful experience of totalling up all my debt. I was $40,000 in debt.

The next step was to sit down with a friend and make a plan. We created a budget. For the past three years, I've accounted for every dollar I've spent. That is one of the things that helped me the most. It helped me focus on getting out of debt. It made me realize that I didn't really know where my money was going; it just disappeared every month. Writing down what I spent my money on checked my spending. I didn't impulse buy anymore.

I played the lowest-rate credit card swap game. I jockeyed them around several times. I focused on paying off the ones with the highest interest rates. When one credit card was paid off, I'd take that amount and snowball it into the next highest interest rate until the second card was paid off. When I got the first two cards paid off, I'd roll both of those payments into the amount I was paying on the third card and so on. It's called the snowball effect and it was very effective.

Once I began seeing the cards paid off, my heart was encouraged. The numbers on the amounts I owed continued to get smaller. The light at the end of the tunnel continued to get brighter and larger. And now I'm there. Part of my blessing has been friends who have loaned me money at a lower interest rate, 8%, instead of the 17% I was paying the credit card company. My friends made more money than in some investments they could have made, so it was a win-win for everyone.

I am just learning what it feels like to be debt free. I know I won't be a slave to debt again. It will take this next year to set myself up to have a slush fund and some fun funds. Now I know it's doable. I would encourage you to take a class if it's offered here at the church, or talk with Sue and Dennis and they'll help you begin the process. And don't give up. It all begins with a thought and a prayer.

I want to leave you with this verse, "Trust in the Lord with all your heart and lean not on your own understanding; in all your ways acknowledge him and he shall direct your paths."

Proverbs 22:7 says, "The rich rule over the poor, and the borrower is slave to the lender." I want to congratulate Linda on her emancipation. One of the things she did early on to control her spending was to store her credit cards in our safe so she wouldn't be tempted to use them unless there was an emergency. Not that she has her finances under control, I'm giving them back. I also brought a little gift to celebrate the occasion. I tried to find an old-fashioned piggy bank but instead ended up with this Cinderella bank. This might help you start saving money to come back to Alaska to see us. Congratulations, Linda!

Let's pray:

Father, give us the strength to commit our whole lives, including our financial lives, to you. We realize that all we own and all we are is a gift from you. Even the health and capacity to work to make money and support our families is a gift. Help us learn to appreciate all that we have and be responsible and faithful stewards of whatever you give us, using it for your glory. Give us joy as we contribute to your work on earth, so that we can store up treasure in heaven, where moth and rust do not destroy and thieves do not break in and steal.

Lord, we thank you for Linda's success in turning her finances around. We pray that you will encourage and support anyone else here today who wishes to do the same. It can be a difficult battle, but the freedom it brings is one of your greatest gifts. May we use that freedom to serve you better.

We pray for the offering today. We pray for Pastor Steve and his family, for the Sunday School teachers, the elders, and for everyone who gives of their time and money to further your work in this church. We ask your guidance as we look for a building of our own.

In Jesus' name, Amen.