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DON’T BE A SLAVE!

BY: Jason Rollo

INTRODUCTION

The book of Proverbs is wonderful book. This God-breathed book deals with the practical. Like the book of James, in the New Testament the book of Proverbs cuts right to the chase and lays the issues bare. It grabs the reader by the throat and demands immediate attention. Both Proverbs and James are simple, blunt, pointed and practical in every way. Proverbs and James offer real truths for real life. Unlike numerous books of men, these books of God are not talking about some untried theory. Instead, they give instruction for the everyday person concerning everyday issues. Proverbs 22:7 provides the theme for this needed discussion. This inspired text reads, “The rich ruleth over the poor, and the borrower is servant to the lender.” Obviously, we need to keep in mind the nature of a Proverb (i.e., general truisms put in pithy and powerful statements), but nonetheless the teaching of this verse is pointed and plain—DEBT is not a desirable thing!

WHAT ABOUT DEBT & INTEREST?

2 Kings 4:1-7 discusses an event involving “a certain woman of the wives of the sons of the prophets.” This seemingly faithful lady was in debt and cried out to Elisha saying, “Thy servant my husband is dead; and thou knowest that thy servant did fear the Lord: and the creditor is come to take unto him my two sons to be bondmen.” After God works a miracle that produces valuable oil, the woman is instructed, “Go, sell the oil, and pay thy debt, and live thou and thy children of the rest.” Several things are interesting concerning this account. First, from the context it seems that this lady was faithful to God and that her late husband was also faithful to God, but for some unknown reason, she was in a debt. Second, the prophet did not rebuke her as being a heathen sinner for being in debt, but rather assisted her and worked with her in helping her to pay off her debt. Note, she had a part in fixing the problem, namely obtaining the vessels to hold the oil, marketing and selling the oil, paying the debt, et cetera. Third, it is apparent from the described event that this lady was under great stress and heartache BECAUSE OF HER DEBT. In other words, the debt was not a good thing. Another verse also shows the unpleasant experience of those in debt, namely 1 Samuel 22:2. Although this verse is describing the people who came to King David when he fled from Saul, it is interesting that it describes those in debt in the same category with those who were “in distress” and with those who were “discontented.” The point seems to be this: On this occasion, the people following David (though perhaps also kind and decent people) were people who were looking for something BETTER. In other words, their distress, discontentment and DEBT certainly were not something enjoyable. Again, anyway you slice it, “The rich ruleth over the poor, and the borrower is servant to the lender” (Pro. 22:7). Yet, as if there is no tomorrow, people all over the world willingly choose slavery over freedom by placing themselves under mountains of debt. In his excellent book, Solomon on Wealth: Modern Financial Wisdom From An Ancient King, Stan Bullington writes:

Around 70% of Americans live from paycheck to paycheck. 1.65 million personal bankruptcies were filed in the U.S. in 2003. The average credit card debt of U.S. households with at least one card rose from $2,966 in 1990 to $9,205 in 2003—a 310% increase. About 70% of divorcing couples attribute their marriage breakdown primarily to arguments over money…Surveys report that charitable giving by “Christians” has declined from about 4% of income to about 2% in the last forty years.

To understand the staggering nature/weight of debt, all one needs to do is to Google “U.S or National Debt Clock” and they can watch the numbers tick upward faster than a speeding train. The national debt of the United States alone is well over 16 trillion, with a breakdown showing $51,610 debt per citizen and $141,652 debt per taxpayer. Regarding credit card debt, one website (www.creditcards.com) declared, “Average credit card debt per household is $15,956.” It noted there were, “609.8 million credit cards held by U.S. consumers, based on a 2010 report.” Of the cards having a balance, the “average APR was 12.78 percent, as of November, 2011.” Further, it said that the “Total U.S. revolving debt (98 percent of which is made up of credit card debt) is $801 billion, as of December 2011.” This same source reported, “Approximately 74.9 percent of U.S. families surveyed in 2004 had credit cards, and 58 percent of those families carried a balance.” Interestingly, this same website revealed, “Credit cards are now the most common source of financing for America’s small-business owners, with 44 percent of small-business owners identifying credit cards as a source of financing that their company had used in the previous 12 months.” Yet, the data noted, “In 1993, only 16 percent of small-business owners identified credit cards as a source of funding they had used in the preceding 12 months.”     Needless to say, DEBT IS A REAL ISSUE in the world, in the United States and in the individual lives of men and women—including the lives of many members of the Lord’s church. While debt is not inherently wrong, it is certainly problematic and even catastrophic in nature (2 Kgs. 4:1-7, Exo. 22:25, Matt. 18:21-35, Rom. 13:8). Just as debt can be abused, so can the use of interest or usury. Consider the following:

Exodus 22:25 – If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.

Leviticus 25:36-37 – Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee. Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.

Deuteronomy 23:19-20 – Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury: Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the Lord thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to posses it.

Matthew 25:27 – Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury.

Luke 19:23 – Wherefore then gavest not thou my money into the bank, that at my coming I might have required mine own with usury?

Other verses along this same line include: Nehemiah 5:7, 10, Psalm 15:5, Proverbs 28:8, Isaiah 24:2, Jeremiah 15:10 and Ezekiel 18:8, 13, 17, 22:12. While the reader should understand that many of these verses deal with the Old Testament, as well as parables, the principles and learning factors still ring true (Romans 15:4). It seems clear after reading these verses, that: 1) God did not want His people charging interest/taking advantage of their brethren, especially as it related to taking advantage of the poor, 2) Loaning money was not inherently wrong, thus debt was not inherently wrong, 3) Charging interest in all circumstances was not wrong, 4) Certain use of interest (i.e., depositing at a bank, sound interest-yielding investments, et cetera) is a smart/proper use of money, 4) Freedom FROM debt is much preferred to slavery IN debt.

Thus, in summary, we find that while debt/loans are certainly not entirely wrong, such does typically create a servant (borrower) vs. master (lender) relationship. Likewise, interest can be used properly (i.e., gaining interest on deposited monies, making fair/reasonable interest on certain fair/reasonable loans), but it can also be used unfairly (i.e., to take advantage of people (especially the poor—who typically get charged high/unfair interest rates/fees, et cetera).

WHAT PHYSICAL & SPIRITUAL CONDITIONS OFTEN EXIST DUE TO DEBT?

A quick web search under the heading, “emotional consequences of debt,” revealed such headings/key words as: “Denial, Stress, Forecloses, Bill Collectors, Fear, Panic, Anger, Depression, Divorce and Debt, Gambling and Debt, Wedding Debt, et cetera.” In fact, the above mentioned search phrase resulted in 2,010,000 web hits. Yes, DEBT can be a killer—both physically and spiritually! Compare these terms with the thought in Philippians 4:7 about “the peace of God,” that is, the peace that the faithful child of God maintains while he or she walks in the light of truth (3 Jn. 3). Instead of having panic, worry, and heartache, the faithful saint should be joyful and blessed (Matt. 5:1-12, Phil. 4:4). His heart should be on lovely things, not grief-stricken from worry over the mundane things of this temporary world (2 Pet. 3:10).

One online article entitled, “Psychological & Physical Effects of Debt,” gives a perfect example of the psychological and physical effects of overusing a credit card (which can be applied to any debt situation). In part, the article found at www.comparedforme.com, reads:

The responsibility of paying off debt you have accumulated often feels overwhelming and insurmountable. Add the current state of the economy to the mix, and you have yourself a recipe for stress…During a study done by Drazen Prelec at the Massachusetts Institute of Technology, researchers organized a silent auction that offered sold-out tickets to a Celtics basketball game. The researchers gave half the participants in the study cash, and half of the participants a credit card. The results of the experiment found that participants using credit cards placed bids that were twice as much as those who were given cash to spend. Simply having access to credit cards gave people a false sense of security…The moral tax gets blurred with credit cards.

When you’re consuming you’re not thinking about the payments, and when you’re paying, you don’t know what you’re paying for. This ‘moral tax’ he is alluding to is the feeling of guilt consumers have when they know they are spending outside of their means. This is what usually stops people from splurging on items then cannot afford…Credit card logos have come to symbolize the ability to ‘buy now, pay later’—which communicates an ability to commit consequence-free actions. Many people, both consciously and sub-consciously, push away any feelings of guilt when they’re ‘in the moment.’ They give in to their urge to obtain the item they are staring at, only to pay the psychological and financial consequences later. After the high of getting what they want wears off, they suddenly find themselves buried in debt. When that credit card bill arrives, most people experience a feeling of guilt…a ‘moral tax.’…When the reality of receiving the bill sets in, a variety of things can happen over time. First, the emotional reactions begin. Fear, frustration, and anxiety rush through the brain. A person begins to feel uncertain about the outcome of their future. Eventually, when under enough stress, they begin to develop feelings of apathy. Immense stress causes them to feel disconnected from society, resulting in the ‘I don’t care’ mentality. The effects of debt are not limited to the emotional aspect; being in debt can have serious physical effects on a person. People often slip into a physical depression…Stress-related heart conditions can manifest themselves, along with sudden panic attacks. At the more extreme end, many people who are facing seemingly insurmountable debt turn to drugs and alcohol to escape the reality of their financial situation. Instead of taking proactive action, this vicious cycle of self-medicating causes debt to pile even higher. Unfortunately, many have turned to suicide as the ultimate escape.

On and on the articles and research could go. The evidence is clear. Debt quiet often does cause various emotional problems. These problems are real and they harm moms, dads, grandparents, widows, kids, and the like. The mental health of millions is forever influenced negatively by debt—especially when the debt is considered overwhelming. One article from www.livestrong.com notes, “Arguments about finances represent one of the greatest sources of contention between couples…Not only are the adults impacted by debt, but children can be as well…While children may not fully understand the implications of debt, they may experience stress as a result.” The same source goes on to say, “To support this claim…an Iowa State University Institute for Social and Behavioral Research [study] found that those who experience financial-related stress as children are more likely to have mental-health challenges as they mature.” A different article entitled, “Financial Stress and Its Physical Effects on Individuals and Communities,” by Laura Choi (Federal Reserve Bank of San Francisco) references such things as, “homes lost to foreclosure, job losses across almost every sector of the economy, dwindling retirement portfolios, and frozen credit markets” leading to symptoms such as, “headaches, backaches, ulcers, increased blood pressure, depression and anxiety, just to name a few.” She says, “Extended periods of stress can take their toll on physical, mental, and emotional health.” In fact she notes that, “When people are dealing with significant debt, they are much more likely to report health problems…In situations of persistent stress…chemicals can cause significant physical harm to vital bodily systems such as blood pressure, heart rate, memory, mood, and immune functioning. Quoting one poll, she declares, “Among the people reporting high debt stress in the AP poll, 27 percent had ulcers or digestive-tract problems, compared with [only] eight percent of those with low levels of debt stress, and 29 percent who suffered severe anxiety, compared with four percent of those with low debt stress.”

Spiritually speaking, Jesus forever made it clear that we are not to be anxious or worried about temporal things. While certainly the Lord does not endorse an attitude of disregard for one’s commitments and responsibilities, He does expect His followers to live in the moment and not in the regret of the past and/or the worry of the future. In Matthew 6, after telling His followers to SEEK HIM FIRST, thereby securing the general promise of food, shelter and clothing, He declares, “Take therefore no thought for the morrow: for the morrow shall take thought for the things of itself. Sufficient unto the day is the evil thereof” (vs. 34). Earlier in this same chapter, Jesus said, “…Take no thought for your life, what ye shall eat, or what ye shall drink; nor yet for your body, what ye shall put on. Is not the life more than meat, and the body than raiment?” (vs. 25). Jesus exhorts His followers, that that if God cares for and takes care of the tiny birds in the air and the lilies of the field, will he not MUCH MORE take care of His children? How powerful are the words of Jesus! He is able to put things in perspective instantly.

It is tragic and sad that even as members of the Lord’s one true body/church, we often plague ourselves physically and spiritually by not remembering the simplest of truths: 1) God is in control (Ps. 2:1-12), 2) God will provide for His own (Matt. 6:25-34, Ps. 37:25), 3) Worry/Anxiety is useless and sinful (Matt. 6:32, Phil. 4:6 (ASV)), 4) This world is only temporary and we are strangers and pilgrims (Heb. 11:13, 1 Pet. 2:11), 5) We are not taking anything material with us when we die (1 Tim. 6:6-12), 6) We should strive to learn contentment (Phil. 4:11, Heb. 13:5-6), and 7) We must have a greater trust in God (Pro. 3:5-7, Ps. 16:1). The long and short is this: Stress, worry, anxiety and the like (whether caused by debt or otherwise), are typically symptoms resulting from a lack of trust (even if momentarily) in God. It is really about perspective. Even the person who suddenly “wakes up” and finds himself neck-deep in debt, needs to realize that life is NOT about money (Matt. 6:24). True, a person in debt DOES need to pay off his or her debts. After all, God does tell us to pay on our debts (Rom. 13:8). However, the proper perspective will allow the child of God to understand the nature of the situation. One day God is going to burn it all up anyway (2 Pet. 3:10-12). This fact is true for those in serious debt, those with no debt, as well as for those with loads of money in the bank. Even Solomon, who at first (writing from the perspective of one seeking for true happiness without God), thought he could find happiness in financial stability (Eccl. 2:4-11), soon realized that he could NOT take it with him to the other side of death (Eccl. 5:9-6:2). He finally learned that true contentment/happiness only exists in true obedience and trust toward God (Eccl. 12:13-14). We should always remember the words of the prophet Zephaniah, “Neither their silver nor their gold shall be able to deliver them in the day of the Lord’s wrath….” (Zeph. 1:18). We should never strive to earn wages simply to “…put it into a bag with holes” (Hag. 1:6), rather we should use what we have in God’s service. If it is little (Lk. 21:2 – widow’s mite) or if it is much (Gen. 13:2 – Abraham’s riches), from man’s viewpoint, one thing is for sure, namely: From God’s vantage point, it is always about the HEART (coupled with actions of obedience or selfishness)!

WHAT ABOUT “NECESSARY” DEBT?

            Is there such a thing as “necessary debt?” The short answer is probably, “No.” A person does not have to have debt. In other words, a person does not NEED debt! Although most Americans probably disagree, unlike water, debt is not a “necessary” element for sustainable life. Remember again, Proverbs 22:7, “The rich ruleth over the poor, and the borrower is servant to the lender.” It is not a requirement for a person to be a SLAVE to DEBT rather the ideal situation is just the opposite—freedom from debt. One blogger even opined, “Debt is a tool of the impatient.” Ouch!

Stan Bullington, Ph.D., a professor at Mississippi State University, is on record saying, “I refer to debt as a symptom. Debt is a result of financial problems such as: (1) greed, (2) failure to plan for the future, (3) careless financial management, or (4) an unforeseeable catastrophic financial event.” Commenting on the term “servant” in Proverbs 22:7 he writes, “I have used the word ‘slave’…a search in an exhaustive concordance will show ‘slave’ and ‘bondservant’ as synonyms for this word. The idea of bondage is included in the original word…a person who borrows places himself in bondage to the lender. Yet so many of us rush to the lenders, begging to become their slaves!” The same penman goes on to say, “If I owe money to a bank, a finance company, or an individual, I am obligated scripturally to repay that debt (Psalm 37:21). Obviously, that means some portion of my labor each day is given to that lender, rather than to God, my family, others, or myself.” Additionally, he adds, “…debt is like a strait jacket, which will not allow [you] to use [your] financial resources as God would want. God wants His people to be free. Freedom from sin should be our foremost concern, of course, but the Scriptures plainly teach that God also wants us to be free from the stress, worry, and limitations that debt often brings to our lives.”

This being said, however, even the most strict of financial guys (i.e., Dave Ramsey, et cetera) use a common sense approach with reasonable debt on a house (i.e., A big down payment, 15 year note, payments not over 25% of your income, and so forth). While we do not think many will say that debt is inherently “necessary,” it also seems that most understand that common sense, proper liquidity, sensible money down (while not hurting one’s ability to function after the transaction/making sure one gives to God first, et cetera) does not deter “ALL” debt. In other words, while the prudent would encourage a person to save money and buy a decent used car, we are not willing to quote Scripture condemning a person who buys a new car on a payment plan as being “hell-bound.” Again, the key is this: Does this person properly give to God? Does this person seek God first in their life? Are they buying the house or car or whatever it is, while neglecting said duties to God? The answer to these questions will surely guide one before/during securing debt. As is noted in earlier sections and/or in the following sections, there are various Scriptures (and principles within these Scriptures) that show that debt/lending/borrowing/reasonable interest and the like, while not ideal, are not inherently sinful, either. Yet, this truth still rings true, namely: To what extent one is “in debt,” he or she is “in slavery” to the same degree (Pro. 22:7)!

WHAT STRATEGIES EXIST (BIBLICAL & SECULAR) FOR REMOVING DEBT?

            Again, while all debt (including lending, borrowing, interest) is not wrong, the ideal is certainly freedom from debt. Yet, what if a person finds himself “IN” debt? As we know from the statistics, this debt reality is the case for millions upon millions of people today. So, what is the answer? How do these people REMOVE their debt?

Various resources and websites exist to aid one in finding tools/solutions for help with this crisis. Please consider the following list of possible helpful sites/tools in dealing with overcoming a debt situation. Note, however, while these sites/tools are very helpful, everything noted within these sites is NOT fully endorsed (i.e., denominational error, all suggested financial strategies, and so forth). Yet, for the most part, the reader should find these sources extremely helpful: 1) Book – George S. Clason’s, The Richest Man in Babylon, 2) Book – Dave Ramsey, The Money Answer Book, 3) Book – Dave Ramsey, Total Money Makover, 4) Website – www.daveramsey.com 5) Book – Thomas J. Stanley, The Millionaire Next Door, 6) Other books/websites of like nature.

One blogger, (www.thedigeratilife.com/blog/get-rid-of-debt-strategies/) commenting on debt reduction strategies, gives the following:

1. Start budgeting and employ the use of effective money management or budgeting tools – Use a budgeting tool or software package like YNAB (You Need A Budget)…it’s much better rated than Quicken [Note – Quicken actually is a good tool, also. – JBR]. You can also try online budgeting tools like www.Mint.com.
2. Stop racking up any more debt and instead, start using cash – Cut up and throw out your [credit] cards and use cash. Without the tools to incur debt, you won’t…carefully track where all your money goes.
3. Don’t spend on things you don’t need – You should carefully consider each purchase…avoid impulse purchases…face the music on…shopping addiction.
4. Develop frugal habits and make cutting costs your top priorities – There is an element of sacrifice needed.
5. Consider using balance transfer credit cards – The best way to beat debt is to pay it off…ideally during the promotional period when the card interest rate is at 0% [Note – some advisors would highly recommend AGAINST this measure in that it is a danger to go deeper in debt if viewed improperly. In other words, BEWARE and use with great CAUTION! – JBR].
6. Consider reducing the amount of money you are investing and/or saving in order to pay off debts [Note – Do NOT cheat God. God always gets the first fruits, PERIOD (2 Cor. 9:7) – JBR].
7. Use your debt payment plan as an opportunity to establish a savings program – Once things are paid off, you can start routing your payments to your savings account instead of to your creditors [Note – This same concept works with giving more. In other words, you can use some of the freed-up monies to give more in God’s service, in addition to using more for yourself. When done properly, God allows/approves of both situations! – JBR].
8. Pay above the minimums on the loans you own.
9. Consolidate your debt to simplify your payments [Note – Be very skeptical of debt consolidation situations. As with all meaningful financial transactions, it is wise to consult your CPA, financial advisor and/or other trusted individuals (especially if they are members of the church and/or will guide you with the principles of Christ in mind) – JBR].
10. Find ways to increase your income – Side jobs…pursuing a high paying job or getting a raise…or side business [Note – Christians must only engage in acceptable/honorable occupations, Eph. 4:28 – JBR].
11. Have a spending AND a savings plan – Set your goals and write them down…review on a regular basis…chart…your progress.
12. Devise your debt payment program and stick with it – You can decide to pay off your loans with the smallest balance first, which is the more emotionally gratifying approach [See Debt Snowball approach, mentioned below – JBR]…Or you can pay down your most expensive loan first, which will cost you less in the long run.

In addition, to the various tools that are available for debt reduction/elimination, mentioned above, consider also, the following list:

1. It’s as simple as a budget – Stop spending more than you make. When the outflow exceeds the inflow, you have a problem. Count the cost (Luke 14:28-32)!
2. Form a plan – Use the tools mentioned above. Don’t just read the Dave Ramsey book actually “follow” it, or at least most of it [Note – I don’t agree with everything Dave Ramsey says about financial matters (i.e., I don’t agree with his views on certain life insurance products, etc.). However, most of what he writes is good stuff. – JBR].
3. Get to work – You either have to reduce spending or increase revenue (or both). It’s as simple as 2 + 2 = 4. Get a second job. Have a garage sale. Use eBay or some other online tool for selling goods. Obviously, you should never do any of this to the neglect of God’s work (Matt. 6:33), but “elbow grease” is good for the soul—and the wallet (Pro. 6:6, 13:4).
4. The debt snowball concept – In his book, “The Total Money Makeover Workbook: A Proven Plan For Financial Fitness,” under the chapter heading, “Light Your Fire: The Debt Snowball,” after reminding his readers of the need for a $1,000 emergency fund, Dave Ramsey writes, “The most powerful wealth-building tool is your INCOME…To build wealth, you have to CONTROL your income. The bottom line for becoming wealthy is this: Don’t have any payments. Debt is the enemy of your income.” He continues, “The Debt Snowball is the key to paying off your debts…Here are the basics to get the snowball rolling downhill: List all your debt except your house payment. Include loans from Mom and Dad, medical debts that have zero interest, ALL debts!.” Next, he says, “Now, relist those debts in order from smallest to largest. Put the smallest debt at the top of the list, the largest at the bottom…Make a focused and diligent effort to pay off the smallest debt…Make minimum payments to stay current on all the other accounts.” After this, Ramsey notes, “Once you have paid off the smallest debt, take on the next debt. Take the amount that is now “freed up” from paying the smallest debt and apply it toward the next debt…When the number two bill is paid off, take on the number three bill, and so forth.” Dave says, “Keep paying minimums on all the debts except the one you are concentrating on. Develop an ‘ATTACK!’ mentality…eventually…you [will] have an avalanche!” Although, some disagree with this theory (basing it upon the fact that one will likely pay more in the long run and thus should focus on attacking the highest interest account first), the successful Ramsey highlights, “…the power of small but quick wins in motivating a person to change behavior,” as the dynamite within this approach. Again, remember your priorities! Even within this method, the man of God should also remember that God’s work needs attention NOW, and not just “after the debt is gone.” In other words, God should not be neglected during this debt snowball process (Mal. 3:8, 1 Cor. 16:1-2). One should maintain proper balance as he attacks this “elephant sandwich” of debt.
5. Don’t trust in riches – When all is said and done, no person is taking even one “red cent” with them out of this world (Matt. 16:26). 1 Timothy 6:6-8 reminds us, “’But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and raiment let us be therewith content.” Trusting in riches is foolish and vain! Such was the problem with the rich young ruler. In Mark 10:21 Jesus told the misguided man to “sell whatsoever thou hast, and give to the poor, and thou shalt have treasures in heaven.” Jesus knew that the man TRUSTED in his riches! Abraham was rich, David was rich, other righteous persons have been rich, but God did not instruct them in such a fashion. Why? Because their riches were not the problem, rather TRUSTING in riches is (and has always been) the problem (1 Tim. 6:10). Note, Mark 10:24 shows Jesus’ commentary on this subject after His “disciples were astonished at His words.” He says, “Children, how hard is it for them that TRUST in riches to enter into the kingdom of God!” Do not forget. Any and all monies/riches you receive are not yours anyway—they belong to God (Ps. 50:10-12).
6. Avoid Surety/Co-Signing – Do not become a surety (co-signer) for another’s debt. Not only is this practical and wise advise from man’s standpoint, even God comments on it. Proverbs 11:15 reads, “He that is surety for a stranger shall smart [suffer – JBR] for it: and he that hateth suretyship is sure [secure – JBR].” Proverbs 22:26-27 declares, “Be not thou one of them that strike hands, or of them that are sureties for debts. If thou has nothing to pay, why should he take away thy bed from under thee?” Proverbs 17:18 forever reminds us, “A man void of understanding striketh hands, and becometh surety in the presence of his friend.” Read Proverbs 6:1-5! Note, this does not mean that a person shouldn’t give gifts or help those in need. In fact, this is among the very reasons we earn money in the first place (Eph. 4:28). But a GIFT is not the same thing as CO-SIGNING. If the ideal is to be free from debt, then why would one willing go into debt on behalf of another? Also, consider the inspired words of God in Psalm 37:21, “The wicked borroweth, and payeth not again: but the righteous showeth mercy, and giveth.”
7. Change your thinking/vocabulary – Don’t use terms/phrases like, “Necessary debt,” or, “Well, everyone has debt,” et cetera. Rather, attack debt methodically and work to FREE yourself from the SLAVERY of debt, so that you can GIVE more to God/others!

WHAT DOES GOD DESIRE—DEBT OR GIVING?

Consider the learning from the Old Testament (Rom. 15:4) as found within last part of Deuteronomy 28:12 as it related to Old Testament Israel. The text reads, “…and thou shalt lend unto many nations, and thou shalt not borrow.” After discussing the consequences of what would happen if Israel rebelled against God, Deuteronomy 28:44 says, “He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail.” Obviously God did not/does not see debt as a desirable thing. The ideal is this: Don’t have debt! However, if you do have debt, then the mandate is this: PAY (on) your debt! Romans 13:7-8 tells us, “Render therefore to all their dues: tribute to whom tribute is due; custom to whom custom; fear to whom fear; honour to whom honor. OWE NO MAN ANY THING, but to love one another: for he that loveth another hath fulfilled the law.” We do not believe this verse is prohibiting any and/or all debt (cf., principles/passages cited earlier), rather it is simply saying, “Pay what you owe.” In other words, Christians are to keep their word, pay their bills, pay their debts—meet their obligations. A faithful child of God should never run up tabs/bills and then run (away). Rather he/she should pay what is owed in a timely fashion. As discussed earlier, the ideal is freedom from debt. However, if a child of God does acquire debt, then he should gracefully and methodically pay on that debt. His reputation should never be one of, “Oh, no, there is John Doe, he never pays his bills,” or, “Old John Doe is a member of the church of Christ and you cannot get him to pay what he owes.” Instead, the comments should be, “Boy, I’ll tell you what, that John Doe is a faithful member of the church of Christ and his word is as good as gold. Not only that, he always pays his bills on time. You can bank on him!”

When a child of God approaches the use of money (and/or debt), he should ask himself severally questions, such as: What is my goal with this money/debt? Why do I want this job/career and what do I plan to do with the benefits derived there from for the Lord? How do I plan to put God first in my life with how God has blessed me (i.e., with little or with much)? How may I bless the church with what I have? What sound and good local/mission work(s) need help? How am I able to help such works? Along this same line of thought (and especially as applied to DEBT FREE living and viewing wealth as a blessing from God and as a resource to use for God), Sam Bullington, formulates the following questions:

1. Would it be a blessing if you had more money to give to God?
2. Would it be a blessing if you had more money to help a struggling single mother?
3. Would it be a blessing if you had more money to help a widow?
4. Would it be a blessing if you had more money to help support a missionary?
5. Would it be a blessing if you had more money to help send an underprivileged child to college?
6. Would it be a blessing if you had more money to expand your business and employee more people?
7. Would it be a blessing if you had more money to help pay off the mortgage on a church building?
8. Would it be a blessing if you had more money to help when a medical emergency struck a friend or relative?
9. Would it be a blessing if you had more money to contribute to a worthy charity helping victims of a natural disaster?
10. Would it be a blessing if you had more money so that you could help a needy person who asked for assistance?
11. Would it be a blessing if you had more money to comfortably care for your aged parents or grandparents?

While “more money/possessions” in and of itself means absolutely NOTHING—after all, Jesus was born poor and died poor (Lk. 2:24, 9:58), certainly money/possessions (especially when freed up from NO debt) CAN/SHOULD be used for good (1 Tim. 6:17-19). Compare the example of the faithful women “which ministered unto [Jesus] of their substance” (Lk. 8:2-3). Even the lovely brethren from Macedonia during “a great trial of affliction,” found a way to JOYFULLY give out of “their deep poverty” (2 Cor. 8:2). The key is found in 2 Corinthians 8:5. It says that they “FIRST gave their own selves to the Lord.” When we as children of God FIRST GIVE OURSELVES to God, the money will naturally flow in the right direction—both to God and to those we might owe. Dave Ramsey has well-said, “Giving is fun that doesn’t quit. I have met literally thousands of millionaires in my life, and the ones who are mentally, emotionally, and spiritually healthy all share one thing in common—a love of GIVING.”

In addition, business owners need to remember to “give along the way.” In other words, while business owners are able to “build equity” in their businesses, they must also realize that God might not want to wait 20 or 30 years to “receive His due.” A balance should be maintained, so that God is receiving “His part” over the years. Regardless, of the exact strategy employed, one thing is for sure: God MUST always receive His part! Christians must not only give properly to God, but they should DESIRE to give to God. After all, God has given everything to us (2 Cor. 8:9, 9:15, Jn. 3:16)!

CONCLUSION

When thinking about a Christian and God’s money (remember, it all belongs to God – Hag. 2:8), several words/phrases come to mind. Words likes, “Seek first, balance, planned giving, giving as one has prospered, pay what you owe, pay your bills, strive to become debt free, budget, have a plan with God in mind (short term and long term), put the Lord first, priorities matter, God sees all, et cetera.”

We need to be “wise as serpents, and harmless as doves” (Matt. 10:16). Surely, if the world understands the value of paying down debt, saving for good causes and rainy days, planning for the long term, then surely we as members of the Lord’s one true church should understand the importance of properly giving/planning with God’s money. Let us be the brethren who leave an inheritance, not only for our children, but for the church, as well. Instead of leaving millions upon millions of dollars to secular universities, why don’t brethren focus on leaving money to SOUND mission works, preaching schools, and the like? This writer once heard of an elder in the church who took out a loan in order to give money to a missionary going overseas to do the Lord’s work. The elder determined to pay on the loan, just as he would a car note. Wow!

If you are in debt, then work to get out of debt. Make sure that you give God’s part to Him “along the way.” If you are in debt, then pay (on) your bills. Make sure you are considered trustworthy and reliable by both those inside and outside of the Lord’s church (1 Pet. 2:12, Matt. 5:13-16, Tit. 2:7-8). Don’t be the problem. Be the solution. Don’t be a slave to DEBT, rather be a slave to CHRIST (Pro. 22:7, Rom. 1:1, Gal. 1:10, Jam. 1:1).

WORKS CITED

Bullington, Stan, Solomon on Wealth: Modern Financial Wisdom From An Ancient King, Bully Pulpit Press, Starksville, Mississippi, 2008.

Ramsey, Dave, The Total Money Makeover Workbook: A Proven Plan For Financial Fitness, Thomas Nelson Publishers, Nashville, Tennessee, 2003.