God desires that you be debt-free. He wants this for your personal life and business ownership. Many have ignored God's instructions and warnings about debt and others have compromised His standards not believing that it is possible to be debt-free. While a few people wind up appearing better off because they leveraged consumer debt, the vast majority of people are destroying peace and joy in their lives by taking on excessive debt.
A legitimate reason for taking on debt is when parents have no way to provide food and/or shelter during a period of poverty in which severe hardship has overtaken the family. It may also be acceptable to use debt instruments whenever you have fixed assets of an amount that covers the total loan plus interests and costs and enough stable income or cash flow to cover the monthly payments. This scenario describes many real estate purchases whether for a family’s primary home, rental property, flipping, or commercial property.
The latter type of indebtedness (real estate purchase) is considered shrewd by some people because the asset may increase in value to be far greater than the outstanding amount of the loan and because renting the property may create enough cash flow (income) to more than cover the monthly loan payment and any other expenses resulting from ownership of the assets. In such situations, you earn more on your money than you pay out in interest on the loan. Some call it using the world’s money to make a fortune for the kingdom.
Yet, you must be very careful when walking this path because many people with good intentions were not able to produce enough cash flow to cover the loan payments and/or the value of the asset dropped due to market conditions. In many such situations, people (even Christians) were forced to file bankruptcy or had the properties foreclosed on and wound up with huge amounts of debt still being pursued by bill collectors and in some cases the government.
When people compromise by taking on debt instruments without the net worth to cover the entire amount of indebtedness, they usually shortchange the kingdom of God and the church and bring financial hardship upon their families. Unfortunately, one bad choice is never enough for them, so they enter into such situations with many creditors for mortgages, car notes, visas, charge cards, etc. This eliminates disposable income that could be used to invest and grow wealth and puts them in a position where they choose to pay creditors instead of paying tithes to their local church to help lead people to Jesus Christ and teach them how to walk in His ways.
While most people want blessings and rewards from God they unfortunately make financial pacts with the devil and give his methods more allegiance than they give God's principles. Your vision should be focused on the fact that God is able to prosper you and grow great wealth for your family without you getting into debt. He wants to bring you out of debt, not further encumber your life with debt. Debt freedom is truly the best position to work yourself into. It’s wonderful to know that we have a God whose vision for you is that large and who is powerful enough to help you make it happen!
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Deuteronomy 28:12-13, Psalms 37:21-22, Proverbs 22:6-7, Romans 13:8
Please forward these bondage breaking articles to other people who can use helpful insight!!!
You can find books authored by Randy and Karen Parlor at www.Amazon.com.
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