The Godly Gazette

Generosity and Debt

3) Be generous; give to the poor.

Proverbs 11:24-25 teaches: “There is one who scatters, yet increases more; and there is one who withholds more than is right, but it leads to poverty. The generous soul will be made rich, and He who waters will also be watered.”

Don’t have an arrogant attitude or be greedy. God will bless you when you love people and are generous with those who have less than you.

4) Be careful of debt, and don’t co-sign.

Proverbs 22:7 reveals a very important truth. “The rich rules over the poor, and the borrower is servant to the lender.”

When you take out a loan, you become someone’s servant. Until it’s paid off, you spend part of your time each week working to pay the lender instead of enjoying what God wanted you to have.

What about credit cards? They aren’t evil; just make sure you use them as a convenience, not as an alternative to saving. And always pay them off 100% each month so you don’t end up paying outlandish interest on them.

A debt mentality will prompt you to borrow for things like VCRs and TVs, or for vacations and going out to eat. Here’s a good rule of thumb: if an item depreciates in value the minute you take it out of the store, don’t borrow money to purchase it. There are some exceptions - like borrowing to get a car if you don’t have any other way to get to work. Generally, though, you will be much better off waiting and saving.

Proverbs 22:26-27 (NLT) says, “Do not co-sign another person's note or put up a guarantee for someone else's loan. If you can't pay it, even your bed will be snatched from under you.”

What a shame it would be to lose something vital to your family as a result of co-signing for someone else’s loan. The spiritual principle involved is that you should never assume responsibility for something you have no authority over. Since the Bible says that it is unwise to co-sign, don’t do it!

Counsel and Faith

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