Read Deuteronomy 15:1-5. What did the Lord require of His people as revealed in these verses?

In harmony with other seven-year statutes (Exodus 21:2; Leviticus 25:3-4), not only the slaves or servants and the land were regulated, but also the lenders. Because the lenders did not want to forgive any debts, the longest anyone could be in debt was seven years. Whatever else we can take from these verses, they do show that the Lord cares about these kinds of financial issues, especially whenever it concerned fellow Israelites. These verses do show also that the Lord acknowledged the reality of debt, no matter how bad it generally was. He also emphasized that it was to be avoided as much as possible.

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Today, by contrast, many parts of the world have loans for 30 and 40 years for home purchases. It seems that one reason houses cost so much is that credit is available to provide loans to purchase them.

Meanwhile, many people, parents, and students wonder about borrowing money for an education. As a rule, getting a college degree will enhance a person’s income capability for the rest of his or her life. Some people might have to borrow some money to pay for their education, but keep in mind these factors. You have to pay it back with interest. Try to get all of the grants and scholarships that you can qualify for. Work and save all you can for school. Take only courses that will lead to a job. Have parents help. In Bible times, parents gave their children farmland so that they could make a living. Today that “inheritance” should likely be an education so that they can become independent adults.

In an ideal world, there would be no borrowing and no debt. But because we don’t live in an ideal world, there might be times when it is necessary to borrow. Just make sure that you have the best deal possible, and the best interest rate available. Then borrow the very minimum that you need, and pay it off as quickly as possible to save on interest costs. In principle, however, to whatever degree humanly possible, we should seek to avoid debt, and by following biblical financial principles in our everyday lives, we can go a long way toward avoiding unnecessary debt and the terrible strain it can put on us and our families.

<–Wednesday Friday–>

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You can view an in-depth discussion of Dealing with Debt in the Hope Sabbath School class led by Pastor Derek Morris. Click on the image to view: [youtube https://www.youtube.com/watch?v=ku3NaXYjHlM&w=560&h=315]

With thanks to

Hope Channel – Television that will change your life.

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Render therefore to all their due: taxes to whom taxes are due, customs to whom customs, fear to whom fear, honor to whom honor. Owe no one anything except to love one another, for he who loves another has fulfilled the law. Romans 13:7-8 NKJV

When we think of debt, I know I usually think about money. However, I have come to realize there are things we owe besides money. It is staggering to think that over half of Americans have less than a thousand dollars in the bank. But it is also staggering to realize that over half the American population feels lonely and unloved. When it comes to money, the poor feel like they are being oppressed by the rich. Instead of being oppressed by the rich, the poor want the rich to pay higher taxes and share more. After all, don’t the rich already have enough? Why can’t they give more?

Should we ask the same questions when it comes to love? Shouldn’t those who know they are loved share more of their love and time with the lonely?

Years ago, in the first district I worked in as a Bible worker, a man I was studying with brought his 14-year-old step-daughter to church for the first time. I went to the women in the church, who had teenage daughters, and asked them to encourage their daughters to befriend our teenage visitor. Do you know what  one of the mothers told me? She shrugged her shoulders and said, “Our daughters already have friends.” Thirty-some odd years later, I have never been able to forget that. They left a 14-year-old girl starving, not for food or money, but for love! I actually met the stepfather years later at another Adventist church, where he got baptized. I never saw or heard from the stepdaughter again. She never came back to the church that snubbed her, and the sad thing is, the church does not care that she never returned. Their own emotional needs were being met, and that is simply all that mattered to them. 

Isaiah 58:1-14 talks about a people who love to go to church and debate theology with their best friends, but forget to care for those who are left out. Isaiah goes on to say that they are breaking the Sabbath by debating theology in Sabbath School class with their best friends. Yes, they are in Sabbath School talking theology on the Sabbath, but they are still breaking the Sabbath by doing their own pleasure. In this case, their own pleasure is not going to a football game or shopping mall on the Sabbath; it’s going to church! They are breaking the Sabbath because they are not reaching out to those who are unloved. 

The poor don’t like it when the rich are stingy with their money, but can the poor be just as stingy with their time, love, forgiveness and mercy?  While the poor feel oppressed financially, do we oppress even the rich by not giving them mercy and forgiveness? God has been so rich and generous with us by showering us with grace and mercy! Do we share this grace and mercy with others, or do we hold grudges and oppress them emotionally by not being gracious and forgiving toward them?  

There is such a thing as debtor’s prison, but there are other prisons as well. We put people in prison when we hold a grudge, and when we refuse to let them into our circle. We oppress people when we withhold our love and friendship. 

Money debts are more tangible, and so maybe that’s why they stick out in our mind more than other debts. But are there other debts we need to pay back that may not be monetary? Do you owe someone a “thank you? “A compliment? A hug? A pardon? How about your time? Is there someone who just needs you to lend them your ear for a while? You may have paid off all your bill collectors, but are you really debt free? Is there someone you still owe love to? Can you begin paying them back today? And tomorrow, and the day after that, and the day after that…

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Is this True or False? Deuteronomy 28:12 – “You shall lend to many nations, but you shall not borrow”, is a promise to the nation, not to individuals. Join us as we discuss this in Lesson 5, Dealing With Debt. 

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The Bible is very clear that God does not want His children to become responsible for the debt obligations of others. In the book of Proverbs, the Lord has warned us against surety — that is, cosigning or being guarantor for another person.

Read Proverbs 6:1-5, Proverbs 17:18, and Proverbs 22:26. What is the message here?

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Surety usually occurs when a person with poor credit seeks a loan from a lending institution and does not qualify for the loan. The loan officer will tell the unqualified person that if he or she will get a friend with good credit to cosign with him or her, then the bank will grant the loan and hold the cosigner responsible in the event of a default.

Sometimes a fellow church member will come to you and ask you to cosign. Your response should be: “The Bible says I should never do that.” Please understand that the Bible encourages us to be helpful to those in need, but we should not become responsible for their debts.

Parents are sometimes asked by teenagers to cosign for the purchase of their first car. Or older adult children will ask parents to cosign for a business loan. The same answer applies. It is appropriate to help others if there is a real need, but do not become surety for the debts of others. Studies show that 75 percent of those who cosigned end up making the payments!

Read Proverbs 28:20 and 1 Timothy 6:9-10. What’s the warning here?

Get-rich-quick schemes are another financial trap; they are almost guaranteed to lead to financial ruin for those who get caught up in them. When it sounds too good to be true, it surely is. Many people are hurt emotionally and financially. An additional tragedy with these devious plans is that, in many cases, individuals have had to borrow money to become involved in them in the first place. Many lives and families have been ruined by get-rich-quick schemes that end up enriching only the con artists who devise them, at the expense of those who fall into their trap. When a friend, or even a loved one, tries to pull you into one of these schemes, run. Not walk. Run — as fast as you can.

<–Tuesday Thursday–>

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