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Is Using Debt for Purchases an Option according to Scripture?
By admin | March 25, 2009
I want to open scripture to answer this.
Ephesians 5:15 says “Be very careful, then, how you live—not as unwise but as wise”
I honestly think scripture has some of the smartest, most practical advice you can get. It does not matter if you are a Christ Follower or not, we all want to live and make decisions wisely.
If you follow scripture according to your life we are to live as wise people. In regards to money - If you cannot pay for something, do not get it. This is a simple statement that many would agree with as wise. I don’t care what it is, if it is not a basic necessity and you cannot pay for it…don’t get it. This is what I call wisdom.
How did we come to the conclusion that using debt for things was a viable decision ?
You might be asking yourself, why I condone a home mortgage then. Here’s the difference, debt on an asset appreciating is not unwise therefore not in contradiction the above scripture. You can literally sell your house at any point and not have the mortgage any longer. When you go out to eat 3 times a week on your credit card there is nothing left to sell and nothing is appreciating. That is the important difference.
Just wanted to share some thoughts on this today.
Topics: Debt |
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