John
from Wellington had children aged 8, 10 and 12.
He was giving each of them $10 per week as pocket money.
- $5 was for spending and for their Church offering
- $5 was for saving into their bank accounts.
John was teaching his children how to wisely look after their
money. He was teaching them about work, about wise spending, saving,
stewardship, the perils of borrowing, and the cost of interest etc.
At the Parachute Music Festival John saw the Liberty Trust display and
realised that this presented a practical application of the Bible principles he
had been teaching his family.
When he got home John introduced Liberty Trust to his
children, explaining that it was a community of Christians helping one another
to buy homes without the huge cost of a bank mortgage. He offered to increase
their pocket money by $5 if they would invest $10 per week into Liberty Trust
instead of $5 into their savings account and suggested they add to this from
their after-school earnings.
They readily agreed and each commenced their own memberships.
This money will enable them to receive an interest free mortgage when they are
ready to buy a home.
By borrowing without interest John’s children can be
mortgage free within 7-12 years of purchase! - Think of that!! They will soon
have their own homes debt-free and be available for whatever God is calling them
to.
Who Is Liberty Trust?
Liberty Trust is a charitable community formed in
1989 to teach and enable New Zealanders to own their homes and churches without
debt. It is an example of the biblical storehouse in action, as Christians lend
and help each other into greater liberty. Our desire is to see God's people free
to give and go, and enable God's will to be done throughout the world.
Liberty Trust has lent $12 million to New Zealand
families, churches and missionaries, interest free, and is increasing rapidly.
Liberty Trust is an IRD-approved charity and we report to the Whakatane Baptist
and New Life churches.
How Does Liberty Trust Work?
Members contribute a minimum of $10 per week into Liberty
Trust. This is a charitable donation, building the Trust storehouse to better
assist future generations, and is eligible for the 33% IRD donations rebate.
After around 10 years they will be offered an interest free
loan of five times their donation, subject to normal lending conditions. In
practice young people may not be ready to purchase a home after just 10 years.
They are welcome to pause for a while or continue contributing to receive a
larger loan. The standard loan term of 7 years can be increased by one year for
every extra year they chose to wait to receive their loan, up to a maximum loan
term of 12 years—which is often more affordable than interest-only at a bank!
God’s answer is for parents to provide for and
teach their children by both word and example (Prov
13:22, 1 Tim 5:8). We need
to train our children in wise financial habits so they will not spend their
adult lives in debt, but have the financial liberty to fulfil their purpose in
God (Psalm 37:4).
You can learn more by viewing our website www.libertytrust.org.nz,
which includes further information and teaching, our
audited financial accounts,
endorsements from Christian leaders and scholars, and over 100 inspiring
testimonials from New Zealanders who have already received an interest free
loan.
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