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Dr. Robert Jeffress

Robert Jeffress - The ABCs To Be Financially Free (Part 1)

July 16, 2026 | 27:30

Robert Jeffress - The ABCs To Be Financially Free (Part 1)
Pathway to Victory provides practical application of God’s Word to everyday life through clear, Biblical teaching.
#Finances #Money #Culture #Debt-Free #Sin #Love #Honor #RobertJeffress

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Dr. Robert Jeffress | Robert Jeffress - The ABCs To Be Financially Free (Part 1) | July 16, 2026
  • ...
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  • ♪♪♪
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  • Male announcer: from the pulpit of the first baptist
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  • Church of dallas, texas, this is "pathway to victory"
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  • With dr. robert jeffress.
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  • Dr. robert jeffress: hi, i'm robert jeffress,
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  • And welcome again to "pathway to victory."
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  • Car payments, a mortgage, keeping the lights on and the
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  • Refrigerator stocked; when you add up all the normal expenses,
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  • Many families are left with very little financial margin.
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  • So what's the solution, the never-ending pursuit to earn
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  • More money or finding ways to make do with what you have?
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  • Well, today i'm going to share solomon's wisdom for managing
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  • Finances on a tight budget.
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  • My message is titled "the abcs to be financially free" as we
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  • Continue our series "the solomon secrets" here on
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  • "pathway to victory."
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  • Announcer: god wants you to experience his best in every
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  • Area of life, and the wisdom to get there is found in his word.
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  • In "the solomon's secrets," dr. robert jeffress draws on the
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  • Life of the wisest and most successful man who ever lived to
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  • Bring you ten life-changing principles from proverbs.
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  • You'll discover practical biblical wisdom for your
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  • Marriage, finances, your career, your purpose, and so much more.
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  • Request "the solomon secrets" when you give a generous
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  • Ministry gift to "pathway to victory."
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  • ♪♪♪
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  • Jeffress: vicki robins and joe dominguez wrote a
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  • Best-selling book a few years ago entitled "your money or your
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  • Life," and in the book they recounted their own personal
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  • Story of how they decided to get out the rat race, to quit their
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  • Jobs, and live on $6,000 a year of investment income so that
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  • They could pursue their real passion of participating in
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  • Charitable work.
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  • They wanted to be free from having to earn a living so that
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  • They could give themselves to volunteer service.
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  • Now, it's not a christian book per se, but there's a compelling
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  • Message in that book for every christian.
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  • The fact is there are many christians who are working at
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  • Jobs they cannot stand to buy things they do not need in order
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  • To impress people they really don't like.
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  • Maybe you're one of those people.
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  • But, you know, god has a purpose for your life, we saw a couple
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  • Of weeks ago, a purpose that extends beyond mere consumerism.
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  • God has a unique purpose for your life and for my life, and
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  • That means money is not the end.
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  • Consumerism is not the end.
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  • Money is simply the means to the end to give us the freedom we
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  • Need to fulfill god's will for our life.
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  • The goal of every christians, we saw last week, should be simply
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  • To have enough money to help us do what god has called us to do.
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  • In fact, that word enough is a great goal for every christian.
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  • Turn over to proverbs chapter 30 for just a moment.
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  • The writer gives us very clearly what should be the financial
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  • Goal for every christian.
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  • The writer says, "two things i asked of thee.
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  • Do not refuse me before i die.
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  • Keep deception and lies far from me," and here it is, "give me
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  • Neither poverty nor riches, but feed me with the food that is my
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  • Portion, lest i be full and deny thee and say, 'who is the lord?'
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  • Or lest i be in want and steal, and profane the name of my god."
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  • Do you hear what he's saying?
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  • He's saying, "god, don't give me so much money that i forget my
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  • Need for you, but don't give me too little money that i'd be
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  • Tempted to do something that would profane your name.
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  • Give me just what i need."
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  • That's the goal for every christian.
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  • On sunday mornings we're studying the book of proverbs in
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  • The series i'm calling "the solomon secrets," ten keys for
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  • Extraordinary success in life.
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  • We're looking at what the word of god, specifically proverbs,
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  • Says about how to be successful in your work and in your
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  • Relationships in every area of life.
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  • And last time we began looking at the solomon secret for
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  • Success in our financial life, and the secret for success in
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  • Finances, solomon says, is spending your way to wealth.
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  • In other words, solomon has said if you want to have enough money
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  • In your life to do what god has called you to do, the key to
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  • Having enough, listen to this, is not through earning; it's not
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  • Through saving, it's not through investing.
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  • The way to have financial freedom in your life is through
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  • Your spending, specifically adjusting your spending
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  • Below your income.
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  • Here's the proverbs that speaks to that.
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  • Proverbs 21, verse 20 solomon said, "there is precious
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  • Treasure and oil in the dwelling of the wise, but a foolish
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  • Person swallows it up."
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  • The fool, solomon says, is the person who spends every resource
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  • That he has, who lives from paycheck to paycheck.
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  • Only a fool would do that.
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  • The wise man doesn't consume everything he has, and by
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  • Obeying this proverb you're able to create what we called last
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  • Time margin in your life.
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  • Financial margin is that difference between where you are
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  • And your boundaries.
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  • It's that buffer zone, that comfort zone in your finances
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  • That gives you freedom.
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  • Remember, last time we talked about the three benefits
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  • Of margin.
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  • Write them down again in case you forgot them.
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  • What are the benefits of obeying proverbs 21, verse 20 and having
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  • This cushion between your spending and your income?
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  • First of all, margin--financial margin offers us the freedom to
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  • Do what we should do.
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  • Financial margin gives us the freedom to do what we should do.
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  • Remember the story i told about the woman whose father was dying
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  • From cancer in another state and she wanted to go see him but she
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  • Couldn't afford the plane ticket and couldn't take 2 weeks off
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  • From work?
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  • And so she had a choice, either financial insolvency and go see
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  • Her dad or a lifetime of regrets for not having seen him.
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  • That's what happens when you don't have financial margin.
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  • You have no freedom to do the things that you need to do.
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  • Secondly, financial margin provides the security we need
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  • To meet future needs.
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  • It provides the security for future needs.
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  • You say, "well, shouldn't we be trusting god to take care of our
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  • Future needs?"
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  • Absolutely.
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  • God can take care of your needs.
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  • The question is, how is god going to take care of your
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  • Financial needs?
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  • And we saw on the story of pharaoh in genesis 41 that god
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  • Said to pharaoh and to joseph, "there is a financial famine
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  • Coming in the land when your need is going to be greater
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  • Than your resources.
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  • So this is what you're to do.
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  • In the 7 years of plentiful harvest, set aside 20% of the
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  • Grain so that when the time of famine comes you will have grain
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  • That you need to exist."
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  • God says the same thing to us.
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  • The way to prepare for future needs is by taking some of our
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  • Income now and setting aside for the future.
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  • That's not a lack of faith, that's a sign of obedience.
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  • That's following god's will for preparing for the future.
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  • Number three, financial margin allows us to experience the joy
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  • Of supporting god's work.
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  • You know, the reason god left you and me here was not to build
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  • Our kingdom but to build god's kingdom.
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  • That's why we're here, and many times in god's work there comes
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  • A special need.
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  • It may be a need for a mission project, it may be a need for a
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  • New campus like this and the only way we can meet those great
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  • Opportunities for ministry that we have is if we have set aside
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  • Some money to take care of those needs.
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  • I said last week this campus wouldn't be here today if it
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  • Were not for the many of you who instead of consuming everything
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  • You had had not set aside some money for the future so that you
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  • Could take opportune--advantage of the opportunities to spread
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  • God's word and to invest in god's project.
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  • God wants us to be able to do that, and that's why we're to
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  • Have financial margin to be able to experience the joy of
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  • Supporting god's work.
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  • Maybe you're saying, "pastor, you just don't understand what
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  • It is like around our house.
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  • There is no extra money.
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  • There is no way we can do what you're talking about."
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  • Oh yes, there is and we're going to discover that way, but first
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  • Let me just say i know there are some of you who are saying,
  • 00:08:40.142 --> 00:08:42.612
  • "wait a minute.
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  • Shouldn't you be talking about something more spiritual like
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  • The holy spirit, or the rapture, or sanctification?
  • 00:08:45.648 --> 00:08:49.285
  • Why are we talking so much about money?"
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  • You know the reason we talk so much about money?
  • 00:08:52.355 --> 00:08:54.590
  • It's because the bible talks so much about money.
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  • Do you know if you look through the bible you'll find a wealth,
  • 00:08:57.693 --> 00:09:01.731
  • Pardon the pun, of information about money in the bible?
  • 00:09:01.731 --> 00:09:04.667
  • In fact, 16 out of jesus's 38 parables dealt with the subject
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  • Of finances.
  • 00:09:08.504 --> 00:09:09.839
  • Did you know that one-sixth of the gospels matthew, mark, and
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  • Luke deal with the issues of money?
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  • You can hardly turn through a page of proverbs and not find
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  • Some word about money.
  • 00:09:19.382 --> 00:09:23.019
  • Why is money such a prominent theme in the bible?
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  • Write this down.
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  • I don't think i put it on your outlines,
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  • But i want you to jot this down.
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  • How we handle our money is important to god
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  • For three reasons.
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  • First of all, how we handle money is a measure of our
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  • Faithfulness to god.
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  • It's a measure of our faithfulness to god.
  • 00:09:40.770 --> 00:09:42.872
  • In luke 16 jesus said, "if you cannot handle money wisely, who
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  • In the world is going to entrust true riches to you?"
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  • God says, "if i can't trust you in this little thing called
  • 00:09:53.916 --> 00:09:56.652
  • Money that one day you're going to leave behind, do you think
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  • I'm going to entrust to you true riches for all eternity?"
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  • How we handle our money is a test of our faithfulness to god.
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  • Number two, handling our money well is a powerful witness to
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  • Unbelievers, handling our money well is a powerful witness
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  • To unbelievers.
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  • You know, a christian who's always delinquent in paying his
  • 00:10:17.006 --> 00:10:18.708
  • Bills or wondering--running around worrying about where his
  • 00:10:18.708 --> 00:10:20.643
  • Next meal is going to come from, do you think that's a positive
  • 00:10:20.643 --> 00:10:23.746
  • Witness for god?
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  • Do you think that makes people want to worship a god who
  • 00:10:26.248 --> 00:10:28.217
  • Promises to take care of all of our needs if his children are
  • 00:10:28.217 --> 00:10:31.087
  • Running around worrying about tomorrow?
  • 00:10:31.087 --> 00:10:33.389
  • No, handling our money well is a positive witness to unbelievers.
  • 00:10:33.389 --> 00:10:37.727
  • And thirdly, handling our money well frees us to serve christ.
  • 00:10:37.727 --> 00:10:43.365
  • Handling our money well frees us to serve christ.
  • 00:10:43.365 --> 00:10:46.435
  • Remember, the goal of money is not to have too much or too
  • 00:10:46.435 --> 00:10:49.004
  • Little but to have enough.
  • 00:10:49.004 --> 00:10:50.973
  • God wants us to have enough so that we are free from having to
  • 00:10:50.973 --> 00:10:55.778
  • Think about it and free to serve him.
  • 00:10:55.778 --> 00:10:59.115
  • How can you have enough?
  • 00:10:59.115 --> 00:11:00.783
  • How can you have that financial margin in your life?
  • 00:11:00.783 --> 00:11:03.452
  • Today i have what i call the abcs to be financially free.
  • 00:11:03.452 --> 00:11:09.492
  • Here are the four principles for creating margin in your life.
  • 00:11:09.492 --> 00:11:13.662
  • The a stands for adjust your spending below your income.
  • 00:11:13.662 --> 00:11:19.935
  • If you want to have margin, first of all adjust your
  • 00:11:19.935 --> 00:11:22.805
  • Spending below your income.
  • 00:11:22.805 --> 00:11:26.275
  • When i was in my last church, christian financial consultant,
  • 00:11:26.275 --> 00:11:30.146
  • Ron blue, came to talk to our congregation.
  • 00:11:30.146 --> 00:11:33.582
  • And i remember he told a story about going into a jewelry store
  • 00:11:33.582 --> 00:11:37.052
  • One day and at the counter was a man who was trying on rolex
  • 00:11:37.052 --> 00:11:41.390
  • Watches, and ron said he just stood by and kind of watched all
  • 00:11:41.390 --> 00:11:44.727
  • The goings on there and finally the man decided he wanted
  • 00:11:44.727 --> 00:11:47.663
  • The new rolex.
  • 00:11:47.663 --> 00:11:49.465
  • And so the guy said, "well, how--" the counter guy said,
  • 00:11:49.465 --> 00:11:52.635
  • "how are you going to pay for it?"
  • 00:11:52.635 --> 00:11:54.403
  • Well, he didn't have the money to pay for it, so he signed up
  • 00:11:54.403 --> 00:11:56.472
  • For payments.
  • 00:11:56.472 --> 00:11:57.807
  • He put down $200 and then signed up for payments for $200 a month
  • 00:11:57.807 --> 00:12:02.945
  • For the rest of his life, i guess, and his
  • 00:12:02.945 --> 00:12:05.581
  • Children's lives as well.
  • 00:12:05.581 --> 00:12:08.150
  • Now, could that man afford a rolex watch?
  • 00:12:08.150 --> 00:12:11.220
  • No.
  • 00:12:11.220 --> 00:12:12.655
  • But he wanted to look like he could, and there are people like
  • 00:12:12.655 --> 00:12:16.625
  • That who want to look like and act like they have more money
  • 00:12:16.625 --> 00:12:20.362
  • Than they really do.
  • 00:12:20.362 --> 00:12:22.698
  • Here in texas, those of you watching, we have an expression
  • 00:12:22.698 --> 00:12:25.668
  • For people like that, people who pretend to be wealthy when
  • 00:12:25.668 --> 00:12:28.904
  • They're not.
  • 00:12:28.904 --> 00:12:30.439
  • We say such people are all hat and no cattle.
  • 00:12:30.439 --> 00:12:36.011
  • You understand what we're talking about.
  • 00:12:36.011 --> 00:12:39.281
  • Solomon had a similar word about that.
  • 00:12:39.281 --> 00:12:41.417
  • In proverbs 13, verse 7 he said, "there is one who pretends to be
  • 00:12:41.417 --> 00:12:45.888
  • Rich but has nothing, but another who pretends to be poor
  • 00:12:45.888 --> 00:12:50.860
  • And has great wealth."
  • 00:12:50.860 --> 00:12:53.395
  • Solomon understood the way to accumulate financial margin was
  • 00:12:53.395 --> 00:12:56.732
  • Not spending everything you could afford to spend or
  • 00:12:56.732 --> 00:13:00.336
  • Certainly not spending more than you could afford to spend, but
  • 00:13:00.336 --> 00:13:03.205
  • Spending less than you're able to afford to spend.
  • 00:13:03.205 --> 00:13:07.042
  • Now, i don't want to get in trouble with all of our
  • 00:13:07.042 --> 00:13:09.979
  • Wonderful christian realtors here in our church; but, you
  • 00:13:09.979 --> 00:13:13.182
  • Know, our culture wars against that, against spending below
  • 00:13:13.182 --> 00:13:17.453
  • Your income.
  • 00:13:17.453 --> 00:13:19.488
  • If you've ever gone to purchase a home, you've seen that happen.
  • 00:13:19.488 --> 00:13:22.758
  • Many times you're a real estate agent.
  • 00:13:22.758 --> 00:13:25.027
  • Certainly not mine or those here in the church.
  • 00:13:25.027 --> 00:13:28.797
  • But sometimes the real estate agent will ask a prospective
  • 00:13:28.797 --> 00:13:31.600
  • Homebuyer, "now, exactly what is your income?"
  • 00:13:31.600 --> 00:13:34.603
  • And you tell them your income.
  • 00:13:34.603 --> 00:13:36.272
  • And then what do they do?
  • 00:13:36.272 --> 00:13:37.773
  • They double it or they triple it and they say, "well, that's how
  • 00:13:37.773 --> 00:13:39.909
  • Much house you can afford."
  • 00:13:39.909 --> 00:13:42.144
  • The idea is you ought to spend the maximum.
  • 00:13:42.144 --> 00:13:45.147
  • Whatever your salary is, double or triple it and that's how much
  • 00:13:45.147 --> 00:13:48.250
  • You can afford.
  • 00:13:48.250 --> 00:13:49.785
  • But just because you can afford that size house, should you
  • 00:13:49.785 --> 00:13:52.354
  • Purchase that size of a house?
  • 00:13:52.354 --> 00:13:54.623
  • I mean, just because your income allows you to have a larger
  • 00:13:54.623 --> 00:13:56.959
  • House, a nicer automobile, to travel on more exotic vacations,
  • 00:13:56.959 --> 00:14:00.562
  • Does that mean that's the wisest use of your money?
  • 00:14:00.562 --> 00:14:03.999
  • Solomon says the wise person who is the one who adjusts his
  • 00:14:03.999 --> 00:14:07.836
  • Spending below his income.
  • 00:14:07.836 --> 00:14:12.274
  • By the way, did you know that's the secret that millionaires
  • 00:14:12.274 --> 00:14:15.778
  • Have already discovered, that the way to accumulate wealth
  • 00:14:15.778 --> 00:14:18.781
  • Over a long period of time is to spend less than you earn over
  • 00:14:18.781 --> 00:14:22.685
  • The long haul?
  • 00:14:22.685 --> 00:14:24.219
  • That's how most millionaires have accumulated their wealth.
  • 00:14:24.219 --> 00:14:27.790
  • That's not just my imagination.
  • 00:14:27.790 --> 00:14:29.825
  • A few years ago thomas stanley and william danko wrote a
  • 00:14:29.825 --> 00:14:32.995
  • Best-selling book called "the millionaire next door," and in
  • 00:14:32.995 --> 00:14:36.665
  • That book they surveyed the spending habits of thousands of
  • 00:14:36.665 --> 00:14:40.669
  • Millionaires in the united states and they found out some
  • 00:14:40.669 --> 00:14:43.639
  • Very interesting thing about--things about the spending
  • 00:14:43.639 --> 00:14:46.942
  • Habits of millionaires.
  • 00:14:46.942 --> 00:14:48.744
  • Listen to this.
  • 00:14:48.744 --> 00:14:50.245
  • "fifty percent of millionaires surveyed had never spent more
  • 00:14:50.245 --> 00:14:53.782
  • Than $399 for a suit, $140 for a pair of shoes,
  • 00:14:53.782 --> 00:14:58.988
  • Or $235 for a watch.
  • 00:14:58.988 --> 00:15:02.458
  • Fifty percent had never spent more than $29,000
  • 00:15:02.458 --> 00:15:05.427
  • For an automobile.
  • 00:15:05.427 --> 00:15:07.363
  • Seven times as mil--as many millionaires had a sears card
  • 00:15:07.363 --> 00:15:12.167
  • Than had an american express platinum card.
  • 00:15:12.167 --> 00:15:15.804
  • More than 36% of millionaires surveyed owned cars that were
  • 00:15:15.804 --> 00:15:20.342
  • More than 3 years old, 25% had never spent more than $24 for a
  • 00:15:20.342 --> 00:15:25.280
  • Haircut, 70% of millionaires had their shoes resold and repaired,
  • 00:15:25.280 --> 00:15:31.520
  • 48% had their furniture reupholstered or refinished
  • 00:15:31.520 --> 00:15:37.493
  • Instead of buying new, and nearly 50% of millionaires buy
  • 00:15:37.493 --> 00:15:40.095
  • Their household supplies in bulk at warehouse stores like sam's
  • 00:15:40.095 --> 00:15:44.133
  • Or costco."
  • 00:15:44.133 --> 00:15:46.402
  • You see, in our culture people are encouraged to spend
  • 00:15:46.402 --> 00:15:50.372
  • Everything that they have; but the millionaire has learned the
  • 00:15:50.372 --> 00:15:53.509
  • Secret to accumulating margin in life, and that is to spend less
  • 00:15:53.509 --> 00:15:57.513
  • Than you earn over a long period of time.
  • 00:15:57.513 --> 00:16:00.549
  • Again, proverbs 21, verse 20, "there is precious treasure and
  • 00:16:00.549 --> 00:16:03.886
  • Oil in the dwelling of the wise, but a foolish person
  • 00:16:03.886 --> 00:16:07.389
  • Swallows it up."
  • 00:16:07.389 --> 00:16:09.792
  • Now the b in this outline stands for be careful of debt,
  • 00:16:09.792 --> 00:16:16.031
  • Be careful of debt.
  • 00:16:16.031 --> 00:16:18.767
  • Debt will devour.
  • 00:16:18.767 --> 00:16:21.003
  • It will erase your financial margin.
  • 00:16:21.003 --> 00:16:24.206
  • Now, we need to be balanced in what we say about debt.
  • 00:16:24.206 --> 00:16:27.376
  • Some people--some christians are very legalistic about this.
  • 00:16:27.376 --> 00:16:30.446
  • They say, "oh, it's a sin to ever borrow money for any reason
  • 00:16:30.446 --> 00:16:33.315
  • At any time."
  • 00:16:33.315 --> 00:16:34.983
  • The bible doesn't teach that, and yet to support that thinking
  • 00:16:34.983 --> 00:16:38.087
  • Sometimes people quote romans 13, verse 8 in which paul says,
  • 00:16:38.087 --> 00:16:41.790
  • "owe no man anything except a debt of love."
  • 00:16:41.790 --> 00:16:47.262
  • And yet if you look at that verse in context, you discover
  • 00:16:47.262 --> 00:16:50.899
  • What paul is talking about literally is paying your taxes.
  • 00:16:50.899 --> 00:16:54.670
  • He's saying don't be delinquent in paying your taxes.
  • 00:16:54.670 --> 00:16:59.541
  • Don't be delinquent in giving honor to people
  • 00:16:59.541 --> 00:17:01.577
  • To whom honor is due.
  • 00:17:01.577 --> 00:17:03.278
  • Don't be delinquent in paying anything you owe.
  • 00:17:03.278 --> 00:17:05.914
  • The only thing you want to owe people is the debt of love.
  • 00:17:05.914 --> 00:17:09.685
  • It's not an absolute prohibition against debt.
  • 00:17:09.685 --> 00:17:12.554
  • Nevertheless, the bible does warn about the dangers of debt,
  • 00:17:12.554 --> 00:17:17.559
  • Especially excessive debt.
  • 00:17:17.559 --> 00:17:19.928
  • In the book of proverbs, solomon refers to debt as a surety.
  • 00:17:19.928 --> 00:17:24.533
  • In solomon's day, if you wanted to borrow money to purchase
  • 00:17:24.533 --> 00:17:27.703
  • Something, you would sign a pledge like a promissory note
  • 00:17:27.703 --> 00:17:31.740
  • Today and you would have to have collateral to back it up.
  • 00:17:31.740 --> 00:17:35.344
  • Now, solomon said before you go into debt and you make a pledge,
  • 00:17:35.344 --> 00:17:40.115
  • You better make sure you've got the means to repay it.
  • 00:17:40.115 --> 00:17:43.118
  • In fact, in proverbs 22, verses 26 and 27 this is how he words
  • 00:17:43.118 --> 00:17:47.189
  • It: "do not be among those who give pledges, among those who
  • 00:17:47.189 --> 00:17:50.259
  • Become sureties for debts, for if you have nothing with which
  • 00:17:50.259 --> 00:17:54.530
  • To pay, why should he take your bed from under you?"
  • 00:17:54.530 --> 00:17:58.934
  • Can you imagine being asleep and in the middle of the night the
  • 00:17:58.934 --> 00:18:01.069
  • Debt collector comes and your bed is gone?
  • 00:18:01.069 --> 00:18:04.406
  • That's what solomon is talking about.
  • 00:18:04.406 --> 00:18:06.175
  • He said before you enter into debt, ask yourself, "what's the
  • 00:18:06.175 --> 00:18:08.510
  • Worst thing that could happen to me if i cannot repay this debt?"
  • 00:18:08.510 --> 00:18:14.116
  • Solomon, again, doesn't prohibit debt completely; but he says be
  • 00:18:14.116 --> 00:18:18.253
  • Very careful of it, and there's a reason for that.
  • 00:18:18.253 --> 00:18:21.423
  • In proverbs 22, verse 7 he says, "the rich rules over the poor,
  • 00:18:21.423 --> 00:18:26.562
  • And the borrower becomes the lender's slave."
  • 00:18:26.562 --> 00:18:32.768
  • If you borrow money from somebody you are that person's
  • 00:18:32.768 --> 00:18:35.470
  • Slave, and today there are millions of americans who are
  • 00:18:35.470 --> 00:18:39.174
  • Slaves to mastercard, to visa, to american express.
  • 00:18:39.174 --> 00:18:44.746
  • Thank you for that amen.
  • 00:18:44.746 --> 00:18:46.181
  • I appreciate that.
  • 00:18:46.181 --> 00:18:49.017
  • I read some statistics just this week, some very interesting
  • 00:18:49.017 --> 00:18:52.421
  • Statistics; and that is, and you've probably heard this
  • 00:18:52.421 --> 00:18:55.190
  • Before, that the average american own $7,000 in credit
  • 00:18:55.190 --> 00:19:00.495
  • Card debt, $7,000.
  • 00:19:00.495 --> 00:19:03.232
  • But as i probed further in that research, i found that is the
  • 00:19:03.232 --> 00:19:06.401
  • Average of all american households everywhere.
  • 00:19:06.401 --> 00:19:10.105
  • But of those american households that actually have debt, the
  • 00:19:10.105 --> 00:19:13.709
  • Average doubles to more than $15,000.
  • 00:19:13.709 --> 00:19:17.579
  • Those american families that have debt have an average of
  • 00:19:17.579 --> 00:19:20.649
  • $15,000 on their credit card, and the average
  • 00:19:20.649 --> 00:19:23.485
  • Interest rate is 17%.
  • 00:19:23.485 --> 00:19:27.489
  • Now, to give you some perspective of what that means,
  • 00:19:27.489 --> 00:19:30.892
  • If you have a $2,000 credit card balance and you make just the
  • 00:19:30.892 --> 00:19:35.631
  • Minimum payment every month at 17% interest, you know how long
  • 00:19:35.631 --> 00:19:40.168
  • It will take you to pay off that debt?
  • 00:19:40.168 --> 00:19:42.404
  • Thirteen and a half years, thirteen and a half years.
  • 00:19:42.404 --> 00:19:46.308
  • After 13 1/2 years, you will have paid over $1,700 of
  • 00:19:46.308 --> 00:19:51.146
  • Interest, almost double what you originally owed.
  • 00:19:51.146 --> 00:19:55.183
  • Now you understand why your mailbox is full of those credit
  • 00:19:55.183 --> 00:19:57.653
  • Card applications all the time.
  • 00:19:57.653 --> 00:19:59.588
  • They are making lots of money off of you.
  • 00:19:59.588 --> 00:20:02.457
  • I read one study this week that said 25% of all household income
  • 00:20:02.457 --> 00:20:06.528
  • Every month is spent on consumer debt.
  • 00:20:06.528 --> 00:20:11.099
  • Not mortgage payments, just consumer debt.
  • 00:20:11.099 --> 00:20:13.068
  • When you put on top of that mortgage payments, car payments,
  • 00:20:13.068 --> 00:20:15.103
  • Food, and all the other necessities of life, no wonder
  • 00:20:15.103 --> 00:20:18.173
  • So few people have any margin in their finances.
  • 00:20:18.173 --> 00:20:22.477
  • Are you borrowing too much money?
  • 00:20:22.477 --> 00:20:24.046
  • Are you enslaved to debt?
  • 00:20:24.046 --> 00:20:26.081
  • How do you know if you are?
  • 00:20:26.081 --> 00:20:27.683
  • Well, one way is to do a calculation.
  • 00:20:27.683 --> 00:20:30.018
  • Many financial consultants say that we should spend no more
  • 00:20:30.018 --> 00:20:33.388
  • Than 30 to 35% of our income every month on all of our debt:
  • 00:20:33.388 --> 00:20:38.327
  • House payments, car payments, credit card payment.
  • 00:20:38.327 --> 00:20:41.697
  • If you are spending more than 30 to 35%, you may be in trouble.
  • 00:20:41.697 --> 00:20:46.501
  • Here's another way to find out if you're a slave to debt.
  • 00:20:46.501 --> 00:20:49.504
  • Here are some questions you might want to jot down.
  • 00:20:49.504 --> 00:20:51.873
  • Are you borrowing to pay for items that you used
  • 00:20:51.873 --> 00:20:54.643
  • To buy with cash?
  • 00:20:54.643 --> 00:20:57.079
  • Are you taking out new loans before paying off
  • 00:20:57.079 --> 00:20:59.414
  • Previous loans?
  • 00:20:59.414 --> 00:21:01.683
  • Are your expenses growing faster than your income?
  • 00:21:01.683 --> 00:21:05.587
  • Do you dip into savings to pay regular bills?
  • 00:21:05.587 --> 00:21:09.257
  • Are you approaching the limits of your credit lines?
  • 00:21:09.257 --> 00:21:12.327
  • Do you make only the minimum payments each month?
  • 00:21:12.327 --> 00:21:16.732
  • Here's the basic problem, ladies and gentlemen, with debt.
  • 00:21:16.732 --> 00:21:20.469
  • Debt allows us to artificially live beyond our means,
  • 00:21:20.469 --> 00:21:27.142
  • And debt erases any financial margin that we have.
  • 00:21:27.142 --> 00:21:31.646
  • Here's a good illustration of that.
  • 00:21:31.646 --> 00:21:33.749
  • Let's say you decide it's time for your family to
  • 00:21:33.749 --> 00:21:35.317
  • Have a new car.
  • 00:21:35.317 --> 00:21:37.185
  • Your old one has given up the ghost and you need a new car.
  • 00:21:37.185 --> 00:21:40.555
  • And so you go out and you find one that will meet yours and
  • 00:21:40.555 --> 00:21:43.258
  • Your family's need, but you look at the car and you realize, you
  • 00:21:43.258 --> 00:21:47.062
  • Know, for about $500 a month you could buy a used one a year
  • 00:21:47.062 --> 00:21:51.233
  • Or 2 years old but for $800 you could buy it brand new.
  • 00:21:51.233 --> 00:21:56.271
  • And you kind of like the smell of the new car, and you reason
  • 00:21:56.271 --> 00:21:59.374
  • To yourself that it might cut down on car repair bills if you
  • 00:21:59.374 --> 00:22:02.110
  • Got the new one and you reason to yourself, "well, if i really
  • 00:22:02.110 --> 00:22:05.280
  • Stretch and everything goes okay, i can probably fit that
  • 00:22:05.280 --> 00:22:08.016
  • $800 a month payment into my budget just as long
  • 00:22:08.016 --> 00:22:12.053
  • As there are no problems."
  • 00:22:12.053 --> 00:22:14.156
  • Well, after the first couple of months, you run into
  • 00:22:14.156 --> 00:22:16.024
  • Some problems.
  • 00:22:16.024 --> 00:22:17.526
  • Your son breaks his arm at football practice.
  • 00:22:17.526 --> 00:22:19.528
  • You have an expensive emergency room treatment.
  • 00:22:19.528 --> 00:22:21.963
  • Or maybe your accountant tells you that you owe more income tax
  • 00:22:21.963 --> 00:22:25.567
  • Than you thought was going to be due, or maybe your transmission
  • 00:22:25.567 --> 00:22:28.837
  • In your other car drops out and suddenly what has happened is
  • 00:22:28.837 --> 00:22:33.408
  • You have no margin in your finances because you're using
  • 00:22:33.408 --> 00:22:36.845
  • Every available dollar you had to buy that new car instead
  • 00:22:36.845 --> 00:22:40.549
  • Of that used car.
  • 00:22:40.549 --> 00:22:42.384
  • You see, that's what debt does.
  • 00:22:42.384 --> 00:22:44.519
  • Debt allows us to artificially buy more than we're really
  • 00:22:44.519 --> 00:22:48.323
  • Capable of buying and to erase the margin in our life, and
  • 00:22:48.323 --> 00:22:51.927
  • That's why i say consumer debt is enemy number
  • 00:22:51.927 --> 00:22:56.698
  • One of financial margin.
  • 00:22:56.698 --> 00:23:00.035
  • Remember, god doesn't want us to be a slave to anyone except
  • 00:23:00.035 --> 00:23:03.805
  • To himself.
  • 00:23:03.805 --> 00:23:05.474
  • Be careful of debt.
  • 00:23:05.474 --> 00:23:08.443
  • Jeffress: there's profound wisdom found in the book of
  • 00:23:12.581 --> 00:23:14.816
  • Proverbs, and we're praying that these daily studies will help
  • 00:23:14.816 --> 00:23:18.487
  • Liberate you from the tyranny of overspending and the pressure
  • 00:23:18.487 --> 00:23:22.824
  • That it places on your life.
  • 00:23:22.824 --> 00:23:25.760
  • Now, in the time remaining today, i want to invite you to
  • 00:23:25.760 --> 00:23:28.630
  • Become one of our loyal, generous givers.
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  • Automate your monthly giving.
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  • Our way, but those who give every month will have 12 times
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  • The impact over the course of 1 year.
  • 00:23:47.315 --> 00:23:50.252
  • So please get in touch with us right away and join our team of
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  • Generous supporters we call pathway partners.
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  • Stay right there now.
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  • I'll be back with more "pathway to victory" in just a moment.
  • 00:23:59.327 --> 00:24:02.731
  • Announcer: all around us, people are struggling in their
  • 00:24:03.965 --> 00:24:05.967
  • Finances, their marriages, and their careers,
  • 00:24:05.967 --> 00:24:08.670
  • Not because they don't want to live well, but because no one
  • 00:24:08.670 --> 00:24:11.506
  • Has given them the wisdom to do it.
  • 00:24:11.506 --> 00:24:13.708
  • That wisdom is found in god's word, and it's exactly what
  • 00:24:13.708 --> 00:24:17.045
  • Dr. robert jeffress unpacks in his best selling book,
  • 00:24:17.045 --> 00:24:19.981
  • "the solomon secrets."
  • 00:24:19.981 --> 00:24:21.650
  • In this practical biblical guide, you'll discover
  • 00:24:21.650 --> 00:24:24.386
  • Ten principles from the book of proverbs for success in every
  • 00:24:24.386 --> 00:24:27.422
  • Area of your life.
  • 00:24:27.422 --> 00:24:29.124
  • Jeffress: solomon had more wealth and opportunity than
  • 00:24:29.124 --> 00:24:31.359
  • Anyone of his era.
  • 00:24:31.359 --> 00:24:33.261
  • And he discovered that real success only comes when you
  • 00:24:33.261 --> 00:24:36.865
  • Build your life on the wisdom god provides.
  • 00:24:36.865 --> 00:24:40.201
  • In my book, "the solomon secrets," i'll show you how to
  • 00:24:40.201 --> 00:24:43.405
  • Apply that wisdom to your marriage, your parenting,
  • 00:24:43.405 --> 00:24:46.641
  • Your career, your finances, and so much more.
  • 00:24:46.641 --> 00:24:50.245
  • Announcer: request your copy of "the solomon secrets" when you
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  • Give a generous gift to "pathway to victory."
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  • And when your ministry gift is $75 or more, we'll also send you
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  • Jeffress: god wants you and me to be prosperous, successful.
  • 00:25:04.960 --> 00:25:10.031
  • The key is defining what god means when he uses the word
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  • Prosperous and success.
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  • Announcer: thank you for partnering
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  • With "pathway to victory."
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  • 00:25:19.741 --> 00:25:22.677
  • Moment they need it most, bringing life-changing hope of
  • 00:25:22.677 --> 00:25:25.814
  • The gospel to a world that's searching for truth.
  • 00:25:25.814 --> 00:25:28.717
  • Together, we're piercing the darkness
  • 00:25:28.717 --> 00:25:30.685
  • With the light of god's word.
  • 00:25:30.685 --> 00:25:33.822
  • Jeffress: the goal of every christian should be to have just
  • 00:25:35.457 --> 00:25:38.226
  • Enough money to help us do what god has called us to do, and
  • 00:25:38.226 --> 00:25:42.964
  • Enough is a lot less than many of us would expect.
  • 00:25:42.964 --> 00:25:46.801
  • In fact, you would likely discover that you already have
  • 00:25:46.801 --> 00:25:49.971
  • Enough right now if you start putting the biblical wisdom into
  • 00:25:49.971 --> 00:25:54.242
  • Practice we've discovered in the book of proverbs.
  • 00:25:54.242 --> 00:25:57.879
  • Today we looked at the first two of solomon's abcs
  • 00:25:57.879 --> 00:26:01.750
  • To be financially free.
  • 00:26:01.750 --> 00:26:03.818
  • Adjust your spending below your income, that's a; and b,
  • 00:26:03.818 --> 00:26:08.156
  • Be careful of debt.
  • 00:26:08.156 --> 00:26:10.291
  • But there are two more important points that we need to cover,
  • 00:26:10.291 --> 00:26:13.528
  • And we'll do that next time.
  • 00:26:13.528 --> 00:26:15.830
  • Stay tuned for a preview of what's coming up next in our
  • 00:26:15.830 --> 00:26:18.700
  • Series "the solomon secrets" here on "pathway to victory."
  • 00:26:18.700 --> 00:26:22.937
  • Jeffress: the primary focus of our giving is to be the
  • 00:26:24.572 --> 00:26:27.575
  • Storehouse, and in the new testament that storehouse
  • 00:26:27.575 --> 00:26:31.246
  • Is the local church.
  • 00:26:31.246 --> 00:26:33.314
  • Bring the whole tithe into the storehouse,
  • 00:26:33.314 --> 00:26:36.718
  • Says the lord of hosts.
  • 00:26:36.718 --> 00:26:38.586
  • Announcer: set your dvr and join us next time for part two
  • 00:26:38.653 --> 00:26:41.423
  • Of the message "the abcs to be financially free"
  • 00:26:41.423 --> 00:26:45.794
  • Here on "pathway to victory."
  • 00:26:45.794 --> 00:26:48.329
  • Announcer: what if your next vacation changed the way you
  • 00:26:52.500 --> 00:26:54.736
  • Read your bible forever?
  • 00:26:54.736 --> 00:26:56.638
  • Jeffress: join me for nine nights sailing the mediterranean
  • 00:26:56.638 --> 00:26:59.574
  • With every detail taken care of.
  • 00:26:59.574 --> 00:27:02.243
  • When you stand where paul stood, your bible comes alive in ways
  • 00:27:02.243 --> 00:27:06.648
  • It never has before.
  • 00:27:06.648 --> 00:27:08.383
  • Announcer: sail with us on the "pathway to victory" journeys of
  • 00:27:08.383 --> 00:27:10.685
  • Paul cruise, may 2027.
  • 00:27:10.685 --> 00:27:13.188
  • The early bird discount ends july 31, so act now.
  • 00:27:13.188 --> 00:27:16.524
  • Call ... or visit ptv.org.
  • 00:27:16.524 --> 00:27:16.524