• Biblical Finance Class Debt - Part 5

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    We have been talking about debt, counting the cost, and God's plan for your life as it applies to financing as a method to obtain possessions. In the video Biblical Finance Class Debt - Part 5 it is the last installment about debt for this class. I hope that you have a different mind toward debt and see it is counterproductive to constantly use debt to obtain wealth.

    I want to be clear I am not saying debt is a sin or implying Heaven or Hell depends on your debt ratio. I am asking is debt a wise choice? Are material items such as cars, TVs, furniture, etc. so important that instant gratification, by way of debt, is worth it? And is working, saving, and hoping for something the wrong way to approach buying something you want?

    You may still be on the fence about using debt so please pray through your decisions, as I believe (and an still learning) prayer is a foundational aspect of decision making. Don't just take it from me, below are some biblical truths about debt, with some layman's terms translations done by me. These scriptures were not cover in parts 1-4 but I mentioned them in the video. Ask the Holy Spirit what they are saying to you!

    • "One who lacks sense gives a pledge and puts up security in the presence of his neighbor." - Proverbs 17:18 ESV Translation: if you agree to take a loan and put up collateral in case you can't pay it back, you lack sense.
    • "Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure." -Proverbs 11:15 ESV Translation: it will hurt you if you put up collateral for/with a stranger but staying away from loans & promises keep you safe.
    • "Be not one of those who give pledges, who put up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?"-Proverbs 22:26-27 Translation: don't go into debt, if you do and can't pay what you have can be taken from you!
    • "The wicked borrows but does not pay back, but the righteous is generous and gives"-Psalm 37:21 ESV Translation: borrowing money such as a student loan with no intention on paying it back is wrong (flat out), instead be giving. 
    • "It is better that you should not vow than that you should vow and not pay"-Ecclesiastes 5:5 ESV Translation: it's better not to enter into debt but if you do pay what you owe! 
    • "Whoever multiplies his wealth by interest and profit gathers it for him who is generous to the poor."-Proverbs 28:8 ESV Translation: self explanatory 
    • "Go to the ant, O sluggard; consider her ways, and be wise." -Proverbs 6:6 ESV Translation: ants work hard, diligently, and don't use everything they have; they store up some of it. So, save some of your money for a rainy day, big purchases, and investing. It may take more time but you'll get there.

    I hope you all enjoyed this series on debt! On to the next and remember... choose faith over fear for your finances!

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    "Where you choose Faith over Fear for your Finances"

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