Alliance Global Local Agents

Don't even know what to say about this. It's a mix of a lot, but definitely not a laughing matter. ______________ Follow @ichrisgh, The Premier Hub of Pop Culture, Urban Entertainment, and Lifestyle. #JackieAppiah #TheGoodDoctor #SupportiveMother #onuashowtime #unitedshowbiz #UTVGhana #TV3GH

WHAT THE BIBLE TEACHES ABOUT BEING IN DEBT. ~ July 27

Proverbs 22:26-27 “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?”

The Bible talks about debt a lot, and none of it is good. While Scripture doesn’t teach that going into debt is a sin, it’s clear about one thing: Borrowing money without a certain and imminent source to pay back is a bad idea. Always. The Bible does not not speak positively of it. It acknowledges that debt is a part of life but has several warnings that we need to pay attention to.

Probably the most well-known scripture about money management that deals with debt is Proverbs 22:7, which says, “The rich rule over the poor, and the borrower is slave to the lender.” Translation: If you owe someone money, they’ll control your life until you pay it back. In fact, the Apostle Paul teaches in Romans 13:8 that we shouldn’t owe anything to anyone aside from love. He wrote, “Owe no one anything except to love one another, for he who loves another has fulfilled the law.”

The Bible doesn’t just warn about you going into debt either. It also tells us that helping a friend or relative go into debt by cosigning is a terrible idea. Proverbs 17:18 says, “One who has no sense shakes hands in pledge and puts up security for a neighbor.” If that’s too complicated to understand, the Contemporary English Version’s translation makes it crystal clear: “It’s stupid to guarantee someone else’s loan.” Scripture couldn’t be more straightforward: ‘Debt is dumb’.

Here are some principles that can help guide your decisions about debt:
1. If you need to go into debt, do so only when absolutely necessary and borrow only what is needed.
2. If you go into debt, do so to procure an asset that can increase in value.
3. Repay your debt as quickly as possible. When God has provided the funds to pay off the debt, pay it off. It reduces the amount of interest owed, but also the bo***ge that debt brings.
4. Not paying back what you owe is a poor testimony of God’s grace upon your life.

Living debt free requires you to make unpopular choices in our culture, such as living simply or sacrificing the nice things that you may want. But the end result of being able to serve the Lord without the bo***ge of debt is well worth it.