Debt has the potential to ruin your reputation.
“The wicked borrow and do not repay…” Ps 37:21.
While working for one of the world’s largest banks, I often heard bankers refer to people with poor credit as “flakes.” In some cases, I’m sure this was an accurate description; however, not in every case. Some people ran into trouble like a head on collision. Sometimes, it was not their fault.
Unfortunately, when we cannot pay our debts, it reflects poorly on our name. As Christians, our name is an extension of God. Our name matters as the book of Proverbs declares:
“A good name is more desirable than great riches; to be esteemed is better than silver or gold” (Proverbs 22:1).
Not all of the time but much of the time, excessive debt reveals immaturity. I know this statement hurts but also know I have been guilty myself. We cannot change until we call things what they are. We either want, so we take or we trust in Visa instead of God. The key to defeating financial immaturity is to cultivate more contentment. The Apostle Paul said, “But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that” (1 Timothy 6:6-8).
You want to go on the mission field but your debt locks you into your job. You want to move to a new city but your debt locks you down. You want to go back to school but your debt says you need to make more money. You want to start a new business but your debt says you’re not financially ready. You want to help someone but your debt is eating up all of your compassion money. You have become a slave to debt.
The rich rule over the poor, and the borrower is servant to the lender (Proverbs 22:7).
“How do I get out of this mess? I guess I need to work more or get a second job. Now I have more stress because God did not make me to work every waking hour of the day. My relationships are hurting and my body is showing wear and tear.”
Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income (Eccl 5:10).
The Bible tells us that the only debt worthy of our effort is to love one another.
“Let no debt remain outstanding, except the continuing debt to love one another…” Romans 13:8.
By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures.
A wise man has great power, and a man of knowledge increases strength; for waging war you need guidance, and for victory many advisers. Proverbs 24:3-6
Christian Financial Concepts- www.cfcministry.org Ronald Blue and Company- www.ronblue.com Sound Mind Investing- www.soundmindinvesting.com Dave Ramsey- www.daveramsey.com
