DOLLARS AND SENSE, Part 2: The Debt Factor

The Bible doesn’t prohibit debt but does provide cautions.

It is not a sin to borrow money.

Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed.VOwe no one anything, except to love each other, for the one who loves another has fulfilled the law. Romans 13:7-8 ESV

It is not sin to loan money.

Some Cautions about Debt

[1] Calculate the cost 

For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Luke 14:28 ESV

Types of Debt

How Much Does It Cost

[2] Demonstrate and fulfill your obligation to the lender. 

The wicked borrows but does not pay back, but the righteous is generous and gives; Psalm 37:21 ESV 

[3] Does the debt own you are do you own the debt? 

The rich rules over the poor, and the borrower is the slave of the lender.

Debt Burden

[4] Beware of cosigning for another individual.

Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure. Proverbs 11:15 

[5] Does debt diminish my generosity? 

[6] Practice thoughtfulness before entering into debt.

Be not one of those who give pledges, who put up security for debts. 27 If you have nothing with which to pay, why should your bed be taken from under you? Proverbs 22:26-27 ESV

Loan Agreement

[7] Have and live a plan 

 Financial Plan

Speaker: Brad Hoffmann
February 9, 2020

Proverbs 22:7'>Proverbs 22:7


Brad Hoffmann

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