Sharon Epps is the president of <a href="https://kingdomadvisors.com/">Kingdom Advisors</a>.[1:15] WHAT ARE THE BASIC WAYS MONEY CAN BE USED?<ul><li>Money is represented by the "live, owe, grow pie.” We say “pie” as that illustrates the fact that it needs to be divided up because there are a limited number of pieces.</li><li>Debt has several dangers: it can be economically dangerous as compounding can work against you; spiritually dangerous because it may prevent opportunities for God to intervene; and psychologically dangerous as it can induce anxiety and threaten marital unity.</li><li>Proverbs 22:7 mentions that the borrower becomes a slave to the lender, indicating the spiritual caution against debt.</li></ul> WHAT CAN YOU TELL US ABOUT MATT AND LISA'S JOURNEY TO OVERCOMING DEBT?<ul><li>Matt and Lisa managed to pay off $50,000 in debt in less than two years despite living in an expensive location and having modest incomes.</li><li>Matt showed dedication by taking on jobs below his qualification level to pay off the debt.</li><li>Their community and their faith played a significant role in their journey; they received unexpected financial help from friends inspired by their commitment.</li><li>They experienced God's providence and shared their blessings with others in need once they were debt-free.</li></ul> [7:20] WHAT CAN YOU ADD TO MATT AND LISA'S STORY?<ul><li>The discussion centers on the "owing" category out of the four ways money can be used (living, giving, owing, growing).</li><li>The dangers of debt from economic, spiritual, and psychological perspectives are emphasized.</li><li>God is willing to work in our financial lives if we trust and invite Him.</li></ul>Matt and Lisa's generosity extended to helping others with their financial challenges once they were free from their own debt.<ul><li>Their journey demonstrates the spiritual adventure that unfolds when we surrender our finances to God.</li></ul> [10:15] SHOULD YOU CONTINUE GIVING WHEN YOU HAVE MASSIVE OBLIGATIONS?<ul><li>Absolutely, it’s a way we indicate to the Lord that He’s still first.   </li><li>You may need to pray about the amount, but God honors giving.</li></ul> 10:44 WHAT PRINCIPLES UNDERPIN THE TOPIC OF DEBT?<ul><li>Ensure the economic return from borrowing is greater than its cost.</li><li>Always have a concrete plan or way to repay the borrowed amount.</li><li>Spouses should be in complete agreement before taking on debt.</li><li>Borrow only when absolutely necessary to avoid preempting potential divine interventions.</li></ul> [14:20]A new "FaithFi" tool has been launched to assess and manage debt. This tool allows users to input their debts and provides strategies for repayment. Learn more at <a href="http://faithfi.com/debt">FaithFi.com/debt</a>. On today’s program, Rob also answers listener questions:   <ul><li>How can my husband and I ensure our house doesn't go through probate if something happens to him, especially since he's the only one on the deed and loan paperwork?</li><li>Should I move my $150,000 from my 401k into an Indexed Universal Life (IUL) so I can borrow against it without affecting the principal?  </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the <a href="https://www.moodyradio.org/programs/faith-and-finance/">Moody Radio Network</a> as well as <a href="https://afr.net/podcasts/faith-finance/">American Family Radio</a>. Visit our website at <a href="https://www.faithfi.com/">FaithFi.com</a>where you can join the FaithFi Community, <a href="https://faithfi.netviewshop.com/donate2">and give</a> as we expand our outreach.

FaithFi

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

Sometimes a financial problem can seem insurmountable. And it could be if you try to solve the problem alone. Sharon Epps joins us today with a wonderful story about what can happen when you surrender your finances to God.

Invite God Into Your Finances With Sharon Epps

FaithFi: Faith & Finance | Oct 25, 2023

Show Notes

Where Faith Meets Finance

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