Tuesday, May 10, 2011

The Bible vs Debt

The Bible vs Debt

Before you can begin your journey to get out of debt, it is important to know what the Bible has to say about debt. Once you understand what God has to say about this issue, then you can boldly pray about and formulate a plan to attack your debt.
1. What does the Bible say about Debt?
- We are Slave To The Lender!
The rich rule over the poor, and the borrower is servant to the lender. - Prov. 22:7 (NIV)
The rich rules over the poor, and the borrower becomes the lenders slave. - Prov 22:7 (NASB)
The rich rules over the poor, and the borrower is the SLAVE of the lender. - Proverbs 22:7 ESV)
When you are in debt to another person/company or yes even government, you enter into a slave/master relationship with your creditor.
Pay Back What You Owe!
The wicked borrows and does not pay back; But the righteous is gracious and gives. - Psalms 37:21 (NASB)
The wicked borrow and do not repay, but the righteous give generously. - Psalms 37:21 (NIV)
When you make a vow a vow to God, do not delay in fulfilling it. He has no pleasure in fools; fullfill your vow. It is better not to vow than to make a vow and not fulfill it. - Ecc 5:4-5 (NIV)
It is important to realize, that when we borrow or otherwise create debts for us, we MUST pay it back. Scripture is very clear on this matter.
Be a Lender
For the Lord your God will bless you as he has promised, and you will lend to many nations but will borrow from none. You will rule over many nations but none will will rule over you. - Duet 5:6 (NIV)
Give to the one who asks you, and do not turn away from the one who wants to borrow from you. - Matt. 5:42 (NIV)
- Don't overcharge for Lending
He who increases his wealth by exorbitant interest amasses it for another, who will be kind to the poor. - Prov 28:8 (NIV)
who lends his money without usury and does not accept a bribe against the innocent. He who does these things will never be shaken. - Psalms 15:5 (NIV)
2. What the Bible does NOT say about debt?

Now that we have looked at what the Bible says about debt, does that mean it is a sin? No! It is not God's best for us, but it is not a sin.
There is absolutely no instances where God provided for our needs with a loan.
3. What are the Biblical promises about debt?

The Lord will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none. - Duet. 28:12 (NIV)
God will provide for our needs (but only in the season we actually need them). He does not just give us everything we want, as this verse stated, he blesses our hard work. Again this verse tells us that we shouldn't borrow but rather we should be lenders.
It used to be that our grandparents scrimped and saved for everything they had, whether it was a new car, house or vacation. Then along came the 1950's and the very first credit card, and now people borrow without even thinking about it. We need to return to what our grandparents and the Bible said, if you don't have the money, you can't afford it.
Think about it this way, Jesus came to free us from the bondage of sin. Before he unshackled those bondage’s, we were slaves to sin, until He set us free. If He wanted to set us free in one area, why would He want us to be slaves in another?
I believe God would love to see His children living debt-free lives. But, as stewards of the money that He has entrusted to us we have a free will to do what we wish with it. We can choose to give it, save it, spend it, or even spend more than we have. You see we have a big part to play – to stop spending more than we have! It doesn’t matter how much God provides – as long as we are spending more money than we have, we will always be in debt.
Conclusion

As Christians we have the opportunity to use our finances to build God’s Kingdom. Every decision we make with our money may be much larger than we realize.
Again, it will be like a man going on a journey, who called his servants and entrusted his property to them. To one he gave five talents of money, to another two talents of money and to another one talent (almost 16.44 years wages), each according to his ability. Then he went on his journey. The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man had received the one talent went off, dug a hole in the ground and his his master's money. After a long time the master returned and settled accounts with them. The man who had received the five talents brought the other five. Master, he said you entrusted me with five talents. See I have gained five more. His master replied., Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness! The man with the two talents also came. Master, he said, you entrusted me with two talents; see, I have gained two more. His master replied, well done, good and faithful servant! You have been faithful with a few things. Come and share your masters happiness! Then the man who received one talent came. Master, he said, I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your talent in the ground. See, here is what belongs to you. His master replied, You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where where I have not scattered seed? Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest. Take the talent from him and give it to the one who has ten talents. For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him. - Matt. 25: 14-29 (NIV)
I love this scripture, because it has so many parallels to our Christian life. There is the parallel of discipleship, but there is also this parallel of money that we are discussing today. It is the perfect verse to conclude today's lesson with. Everything that we have is provided to use in one way or another by God. Our money, clothes, Bible. Absolutely everything! What we do with what God provides us is very important. We could use it to further God's kingdom and increase it, or we can hide it and lose it. It is the perfect verse to show that God doesn't want us to be in debt, because if we are in debt, we will have a harder time to do His will and increase His kingdom.
 Note:
You may have ask, what
1 Talent is equivalent to in today’s money.
1 Talent is equal to 60 Minas
1 Minas is equal to 100 Drachma
1 Drachma was about 1 days wages
Translation, 1 Talent would be worth about
6000 days (16 years 5 months 10 days) wages


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