Page 2 - Money (2) - The Danger of Debt | Truth & Tidings
P. 2

If we view our money and material            you do not have a credible, realistic repay-
possessions as a stewardship from God (as        ment plan, do not enter into an arrange-
we should), then, in some ways, the care-        ment involving debt.
less use of debt is akin to blackmailing
God. Essentially, debt is spending money             Do not go into debt without having
that God hasn’t even entrusted to me yet.        prayed about it, possibly discussed it with
It’s committing money now that I am as-          someone more spiritually mature than
suming God will entrust to me at some            yourself, and being convinced that the
point in the future – more or less daring        purchase you are making is necessary for
God to step up and fulfill the obligations I     the furtherance of God’s purposes in your
have taken on deliberately, but too often        life. This may mean that debt is a reason-
mindlessly.                                      able course for the purchase of a home
                                                 that will be used for God’s glory, or the
    Debt should never be entered into            purchase of a vehicle that can enhance
glibly or thoughtlessly. The following           your family’s participation at assembly
guidelines are suggested for every believer,     meetings, etc. But this test will preclude
young and old, to carefully and prayerful-       ever using debt to buy that motorcycle
ly ponder before entering into a financial       you really like, upgrade to a faster jet-ski
transaction that involves credit or debt.        or waverunner, or “invest” in a more mod-
                                                 ern flat screen TV or home entertainment
    Do not go into debt for something            system.
that will be consumed before you have fin-
ished paying for it. This guideline would            Admittedly, the above guidelines may
mean that it may, under some circum-             seem somewhat radical, old fashioned,
stances, be reasonable for a believer to use     and totally out of touch with what is con-
some manageable level of debt to fund the        sidered “normal” in our society today,
purchase of a home, an education, or pos-        even by believers. But before dismissing
sibly a vehicle (although it would be fool-      them outright as being irrelevant to you
ish to use debt to get a “nicer” vehicle than    and your life choices, pray about them,
I could afford without it, if the vehicle I      compare them with Scripture, not your
could afford would be adequate to meet           peer group, and see if they do not repre-
my transportation needs and avoid debt).         sent a Biblically sound basis for you to
Debt should never be used to pay for vaca-       avoid the misuse and abuse of irresponsi-
tions, indulgences, lifestyle expenses, or       ble, credit-supported, unaffordable, bar-
other things that are long forgotten after       ren Christian living.
the bills still pile up and cry out to be paid.
                                                     The concept of “affordability” is not
    Do not go into debt unless you first sit     just old-fashioned, it is Scriptural. The
down and develop a realistic, conservative       Lord speaks in Luke 14:28 of a man plan-
plan as to how you are going to retire the       ning to build a tower. Before he starts, he
debt. This will preclude almost all impul-       will sit down first and count the cost to
sive credit card spending. If you do not         ensure that he has sufficient funds to fin-
have the money to pay for a purchase now,        ish it. Sadly, “affordability” today has been
there’s little likelihood you will just hap-     replaced with “availability,” and purchase
pen to have it when the bills come due. If       decisions are made lightly on the basis of

2 TRUTH kTidings I Debt
   1   2   3   4