Some of the types of debt that you will encounter on your journey through life are: Home mortgages; Second mortgages; Home Equity loans; Vehicle loans; Student loans; Credit card loans; Store charge card loans; and Business loans. Most debt is bad and all types of debt can put you in financial harm’s way when you do not quickly seek to get yourself out of it. Yet, here are a few examples of debt that scripture may support:
1. Loans to provide necessary food and shelter for your family when you are in deep poverty and cannot earn enough at the present time to take care of the need (not desire).
2. Loans to pay for life saving surgery when you are in deep poverty and cannot earn enough at the present time to take care of the life-saving need.
3. Very low-interest rate loans to put into guaranteed-interest investments offered by the most reputable firms that will pay much higher interest on the money than you are paying out to the bank in finance charges. For example; borrowing $10,000 @ 3% annually to invest the money in a vehicle guaranteed to earn 7% annually.
With regard to items 1 and 2, I believe 99.9% of United States and developed countries citizens are not in this position because they have a skill or ability that can bring them income so they never experience such deep poverty. Also, many medical providers and hospitals will often provide pro bono or low cost ways to get life-saving surgery. In addition, businesses and charities provide huge amounts of usable goods that they leave in the field that citizen’s hard work could harvest to provide necessary food, shelter, and clothing.
With regard to item 3, this is a situation that 99.9% of the people will never experience and would get into deep financial trouble trying to find. You’ve already been worshipping at the altar of debt / maintaining good credit scores by continually taking on more debt and refusing to negotiate with your creditors to eliminate debt or a portion of it. How is that working out for you?
The absolute best approach you can take to obtain financial freedom is to employ a singular focus and stop spraying in numerous directions trying to do a whole lot of other things that are not needful right now. It is futile to think you’re going to be a good investor earning high returns when you cannot manage the current income entrusted to you, shown by having no emergency fund cushion and barely being able to pay your bills if you’re able to pay them at all. It is likewise futile to believe you can maintain a high credit score by taking on more debt or when you are entertaining deficit spending in your monthly budgets. Need I say, like the Robot to Will Robinson, while frantically waving my arms so you get the point, “Danger Will Robinson, Danger, Danger, Danger Will Robinson!”
Intense focus on taking out no additional debt along with total debt elimination and obtaining a debt-free life is the process / good stewardship lifestyle that make it possible for you to be what God said He wants His people to be:
Debt-free, in a financially sound and asset rich position of a lender instead of the poverty-stricken position of a borrower, released from slavery (bondage) to lenders, owing no man anything but love, able to carry out His call and purpose for you to evangelize and disciple others and have greater monetary means to help meet the needs of the widows, orphans, oppressed, and enslaved.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Deuteronomy 15:7 and 28:12, Proverbs 22:7, Romans 13:8, 1Timothy 6:6-10
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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