Day 16: Dealing with Debt, Part 2
Just as the rich rule the poor, so the borrower is servant to the lender. - Proverbs 22:7
Read the text again. Note that it is not saying that you should never borrow money. It is often said by well-meaning Christians that the Bible tells us not to borrow money. That is not true. Jesus himself said in Matthew 5:42 that we are to give to anyone who asks and not to turn away anyone who wants to borrow from you.
Throughout the Bible you find instances where money is borrowed. Borrowing is not the issue. The problem for many lies in the fact that they have borrowed more than they can pay back. What is needed is discipline – the discipline to borrow only what you can afford to pay back. Otherwise, you will put yourself under the power of the lender.
Ask God to reveal any instances of ego spending, buying stuff to soothe our self-esteem. Ego spending is often the basis for borrowing (think credit cards) more than we can afford to pay back.
Credit cards can be the source of where we “borrow” more than we can pay back. Discipline yourself to always pay off the balance every month. If that is difficult for you, then take out a pair of scissors and cut the card in half!