“It is my money, I worked for it, and I’ll spend it as I want.” Have you ever spoken such words? Or heard someone else say them? This attitude shows that the person does not have a proper biblical understanding of finances. They need to be taught: “The earth is the LORD’S, and the fullness thereof; the world, and they that dwell therein.” Psalm 24:1. How we earn and spend our money tells a lot about who we are and what we consider important in life. How we manage money also affects our relationship with God and the people around us. We need a good understanding so that we may be able to put money in its proper place, where it serves as a tool for God’s purposes, not as a god that rules us. Thus we can be a good support for each other as we put God first in our lives, worshipping Him alone.

In part one we studied about the power of money and how God owns everything.  In article number two, the wisdom in earning, using and investing was written about.

Part three will bring it all together, showing the importance of a good Christian’s attitude regarding money, what to do about debts, why and how to avoid debts.

DEBTS AND LOANS

“It is not wisdom to become involved in debt. You are a wise man, and do not need this reminder. A debt is a yoke,—a binding, galling yoke.” —Christian Service, p. 274

The dictionary defines “debt” as “money that a person is obligated to pay to another.” This includes money owed to credit card companies, bank loans, money borrowed from relatives or friends, the house mortgage, and past due bills. Scripture does not say that debt is a sin, but it discourages the use of debt. The first part of Romans 13:8 says, “Owe no man any thing.” The Amplified Version says, “Keep out of debt and owe no man anything.”

“Debt” can be defined as “Borrowing to buy now, with intent to pay later at prescribed times.” It is a promise to make payments until the debt is paid off. Generally, borrowing involves also paying interest on the money. The problem arises when people purchase items they covet, but do not need, and are unable to pay at the moment, hoping to pay at a later date.

“Many, very many, have not so educated themselves that they can keep their expenditures within the limit of their income. They do not learn to adapt themselves to circumstances, and they borrow and borrow again and again, and become overwhelmed in debt, and consequently they become discouraged and disheartened.” –The Review and Herald, December 19, 1893

Bible verses regarding debt:

“The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth.” Psalm 37:21. “Say not unto thy neighbor, Go, and come again, and to morrow I will give; when thou hast it by thee.” Proverbs 3:28. “The rich ruleth over the poor, and the borrower is servant to the lender.” Proverbs 22:7. “Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth.” Luke 12:15

Many people are in debt above what they are able to repay. The home and the church are affected by this.

  • Debt compared to slavery. Proverbs 22:7
  • Commanded not to be slaves of others. 1 Corinthians 7:23
  • Examples of hardship of debt. 1 Samuel 22:1–2; 2 Kings 4:1; Nehemiah 5:1–5; Psalm 109:11; Isaiah 50:1
  • Being debt-free was positive. Jeremiah 15:10
  • Debt was considered a curse. Deuteronomy 28:15, 43–45
  • Being debt-free was considered a blessing. Deuteronomy 15:4-6; 28:1–2, 12
  • Godly people repay debts. Proverbs 3:27–28
  • Wicked people do not repay debts. Psalm 37:21
  • The Lord can supernaturally provide resources to get out of debt. 2 Kings 4:1–7
  • Forgiveness of debts every seventh year—a law for Old Testament believers. Deuteronomy 15:1-11; 31:10–11; Nehemiah 10:31

Let us examine this “debt is considered slavery”. When we are in debt, we are in a position of servitude to the lender. And the deeper we are in debt, the more like servants we become. We do not have the freedom to decide where to spend our income, because our money is already obligated to meet these debts. The warning of the Apostle Paul to the Romans is applicable to us today: “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. Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.” Romans 13:7–8 (ESV). Two things stand out regarding debt: Paying your debts and avoiding debt of any kind except the debt of love. God Himself does not want you to be burdened with debt.

“The eighth commandment condemns manstealing and slave dealing, and forbids wars of conquest. It condemns theft and robbery. It demands strict integrity in the minutest details of the affairs of life. . . . and requires the payment of just debts or wages.” –Patriarchs and Prophets, p. 309

None “should manage his affairs in a way to incur debt. . . .  When one voluntarily becomes involved in debt, he is entangling himself in one of Satan’s nets which he sets for souls.” –Counsels on Stewardship p. 254

Do not cooperate with “A Demoralizing Practice. The practice of borrowing money to relieve some pressing necessity, and making no calculation for canceling the indebtedness, however common, is demoralizing. The Lord would have all who believe the truth converted from these self-deceiving practices. They should choose rather to suffer want than to commit a dishonest act.” –Ibid., p. 255

“Counsel to a Colporteur. In your letter you complain of the yoke of debt. But there is no excuse for your being in debt.. . . . Your freedom in borrowing, with no reason to suppose that you will be in a position to repay it, is doing great injustice to others, robbing them of their little all, and bringing reproach upon the cause of God. If you realized what you were doing at the time of your action, you would stop. You would see the sinfulness of robbing men, believers or unbelievers, and bringing them into strait places in order to relieve your present necessities.” –Ibid., p. 256

Going into debt—why?

It is true that many people may have debts in their lives, but their reasons for going into debt may differ. “Through lack of experience, and miscalculation, we may be entrapped into the incurring of large debts, because the buildings and improvements cost two or three times as much as was estimated.” –Manuscript Releases, vol. 10, p. 210

Here are some reasons why people may be in debt:

Lack of Discipline. They see, they want, and they buy. Their idea is: “I must have it, and have it now.” So, they run up their debt beyond safe limits. This is simply, “Unwise spending.” The Bible says that the foolish squander their money (Proverbs 21:20). It is to over-spend and not feel responsible. It implies the failure to think things through.

Selfishness and Greed. These two are at the root of many unwise debts. They spend more than they make for greed, not caring about future repayment. Then, unfortunately, they are unwilling to accept the blame for their decisions.  To buy indiscriminately is to fail to plan for future needs and expenses. No real control is placed on spending.

Unfortunate Circumstances. Some debt may be beyond our control such as a prolonged sickness, .a loss through the forces of nature or loss of a job

WISDOM AND FREEDOM FROM DEBT

“Ye are bought with a price; be not ye the servants of men.” 1 Corinthians 7:23. Our Heavenly Father made the ultimate sacrifice by giving His Son to die for us and pay the debt for our sins. And now He wants His children to be free to serve Him, not burdened down with debt. Getting out of debt requires commitment and hard work.

We must accept responsibility for dealing with our debts. If we made the debts then we are responsible before God for them (Romans 13:8). We need to humbly and penitently seek God’s help, His wisdom, and His strength (James 4:6). Everyone should want to have the joy of being free of debt.

For some, it will be fairly simple and quick to be free of debt. But for others, it will be a real challenge. But the feeling of joy at the end is worth the price to be paid. Budget your spending. Commit to get out of debt. It is possible for a person to be free of debt.

Be generous in giving. “I have showed you all things, how that so labouring ye ought to support the weak, and to remember the words of the Lord Jesus, how He said, It is more blessed to give than to receive.” Acts 20:35

Although you may be overburdened with debt, consider this. God said that those who are faithful in paying their tithes will have more than enough. He will protect their work so that it will not be unprofitable or fail. The enemy who devours their money and their labour will be rebuked by the Lord Himself (Malachi 3:8–13). However, if you are not faithful with your tithes and offerings, the enemy will be permitted to steal from you. If God made all these promises to you upon your faithfulness in tithe paying what do you have to lose?

“Those who are selfishly withholding their means need not be surprised if God’s hand scatters. That which should have been devoted to the advancement of the work and cause of God, but which has been withheld, may be entrusted to a reckless son, and he may squander it. A fine horse, the pride of a vain heart, may be found dead in the stable. Occasionally a cow may die. Losses of fruit or other crops may come. God can scatter the means He has lent to His stewards, if they refuse to use it to His glory. Some, I saw, may have none of these losses to remind them of their remissness in duty, but their cases may be the more hopeless.” –Testimonies, vol. 2, p. 661–662

I encourage you to be generous and give more than just your tithes. Jesus says that you will receive according to what you give (Luke 6:38; 2 Corinthians 9:6–8).

Sometimes all you may have is the “widow’s mite” but that “little” is a large amount in the eyes of God because you are giving sacrificially and not from a great abundance.

The key to remember is that giving leads to increase (“good measure, pressed down, shaken together, and running over”) to help you do good works. Therefore if you have not been faithful with your tithes, start now. If you are a grudging giver, ask God to change your heart so that you become a cheerful giver. As you use your finances to help fulfill the Great Commission, God will honour your obedience and faith and provide help to get you out of debt.

Lower your standard of living to the necessities of life. Evaluate everything you have and cut out all unnecessary foods and material things and learn to live simply. (1 Corinthians 15:58; 2 Peter 1:6; James 1:2–4).  A quiet, simple life is the safest environment for us to be able to invest enough time to nurture our relationships with others and with the Lord. “Study strive to be quiet, and to do your own business, and to work with your own hands.” 1 Thessalonians 4:11

Get counsel “The way of a fool is right in his own eyes: but he that hearkeneth unto counsel is wise.” Proverbs 12:15. “Without counsel purposes are disappointed: but in the multitude of counsellors they are established.” Proverbs 15:22

Learn financial knowledge. “By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures.” Proverbs 24:3–4. None of us are perfect at making decisions, but we all can learn by experience and we can profit by our mistakes, unless we are too wise in our own eyes (Proverbs 3:7, 13).

Be responsible with whatever you have. Do not ignore the little things. “He that is faithful in that which is least is faithful also in much: and he that is unjust in the least is unjust also in much.” Luke 16:10

Understand what your true needs are. Be patient. “Remove far from me vanity and lies: give me neither poverty nor riches; feed me with food convenient for me: Lest I be full, and deny Thee, and say, Who is the LORD? or lest I be poor, and steal, and take the name of my God in vain.” Proverbs 30:8–9. “But that on the good ground are they, which in an honest and good heart, having heard the word, keep it, and bring forth fruit

with patience.” Luke 8:15

Be organized. “Let all things be done decently and in order.” 1 Corinthians 14:40

Carefully follow a budget. “For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?  Lest haply, after he hath laid the foundation, and is not able to finish it, all that behold it begin to mock him.” Luke 14:28–29. Know well the condition of your life (Proverbs 27:23–27).

Do not borrow. Eliminate Debt. “Be determined never to incur another debt. Deny yourself a thousand things rather than run in debt. . . . Avoid it as you would the smallpox. Make a solemn covenant with God that by His blessing you will pay your debts and then owe no man anything if you live on porridge and bread. It is so easy in preparing your table to throw out of your pocket twenty-five cents for extras. Take care of the pennies, and the dollars will take care of themselves. It is the mites here and the mites there that are spent for this, that, and the other, that soon run up into dollars. Deny self at least while you are walled in with debts…. Do not falter, be discouraged, or turn back. Deny your taste, deny the indulgence of appetite, save your pence and pay your debts. Work them off as fast as possible. When you can stand forth a free man again, owing no man anything, you will have achieved a great victory.” –Christian Service, p. 257

Do not co‐sign for someone else’s loan. “A man void of understanding striketh hands, and becometh surety in the presence of his friend.” Proverbs 17:18

Do not strive to get rich. “But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.  For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” 1 Timothy 6:9–10

God has a plan for your life. “For I know the thoughts that I think toward you, saith the LORD, thoughts of peace, and not of evil, to give you an expected end.” Jeremiah 29:11

There are legitimate reasons for debt when used wisely. But there are questions that we should ask before going into debt: Are we (married couple) in agreement regarding the debt? Can we have spiritual peace of mind over this debt? Am I meeting my financial goals with this debt? Why am I going into debt? Is it a wise or an unwise debt? Is it a sinful debt? A sinful debt is when we make a debt having no intentions of paying it off. This is dishonesty and lying.

There are many consequences to unwise debts. It will create psychological issues such as family arguments, and physical and mental abuse. It is one of the five major causes of breakups of marriages. It leads to many crimes, mental breakdowns, and suicide. It causes neglect of caring for one’s family (read 1 Timothy 5:8).  It can bring financial bondage. It can cause us to lose our desire to work. It can destroy our self-worth. It can cause our income to be insufficient to do what it should be able to do. As debt increases, we can become easily irritated with our family. We become angry with our “successful” friends and our self-esteem can be destroyed.

CHRISTIAN LIFESTYLE IN MONEY MANAGEMENT AND PRINCIPLES FOR TRUE HAPPINESS

The Christian should be more concerned about his attitude towards money, how he acquires it, how he manages it, and how he fulfills God’s will in his use of it. When financial wisdom is lacking, it is hard for Christians to be faithful servants. Things do not go well at home, and often, they do not go well at church either. The lost will not be reached. God will not be glorified with you. Your soul can be in jeopardy and Satan wins the battle, not God.

Those who wisely manage the money given to them will hear one day: “Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy Lord.” Matthew 25:21. The one who did not manage the money well will be surely condemned: “Thou wicked and slothful servant,…” Matthew 25:26. Therefore, this Bible principle should be followed: “Cease to do evil; Learn to do well.”  Isaiah 1:16–17

Learn to be content. Contentment is mentioned often in Scripture, usually in reference to possessions. Paul wrote to Timothy, “And having food and raiment let us be therewith content.” 1 Timothy 6:8. To the Philippians he wrote: “Not that I speak in respect of want: for I have learned, in whatsoever state I am, therewith to be content.” Philippians 4:11

The path to contentment has three steps: 1) “learning” what God requires of us in handling money and possessions; 2) “doing” those requirements, and; 3) “trusting” God to provide exactly what He knows is best for us. True Christian contentment is an inner peace that accepts what God has chosen for our financial situation.

Do not Covet. Coveting means to crave another’s property, and it is prohibited throughout Scripture. The tenth commandment begins with, “Thou shalt not covet . . .” and ends with, “any thing that is thy neighbour’s.” Exodus 20:17

A covetous person is an idolater. If you find yourself in this position of coveting others, ask the Lord to change your heart. “Wherefore, if God so clothe the grass of the field, which to day is, and to morrow is cast into the oven, shall He not much more clothe you, O ye of little faith?  Therefore take no thought, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed?  (For after all these things do the Gentiles seek:) for your heavenly Father knoweth that ye have need of all these things. But seek ye first the kingdom of God, and His righteousness; and all these things shall be added unto you.” Matthew 6:30–33

“Mind not high things.” Romans 12:16. Do not determine your lifestyle by comparing it to others. Some use comparison to justify spending more than they should. Paul warned the Corinthians, “but they measuring themselves by themselves, and comparing themselves among themselves, are not wise.” 2 Corinthians 10:12

Prayerfully submit spending decisions to the Lord.

Success is meaningless apart from serving the Lord. Nothing can replace the value of our relationship with the Lord. Ask yourself this question: Am I sacrificing a close relationship with Christ in the pursuit of wealth? “For what shall it profit a man, if he shall gain the whole world, and lose his own soul?” Mark 8:36

Have courage to make a difference. If you are seeing some things that need to change, have courage and do not delay making the change.

“Be not conformed to this world.” Romans 12:2. In the most affluent countries in the world, people are constantly bombarded with advertising to encourage them to spend money. Advertisers strive to send a very clear message—the happy, beautiful, life can be yours if you are willing to buy it. Author George Fooshee states it so well, “People buy things they do not need with money they do not have to impress people they do not even like.” An expensive lifestyle claims to satisfy some people’s deepest needs. When they want to live this counterfeit dream but cannot afford it, they suffer discontentment. If you seek the Lord’s guidance and godly counsel when making a spending decision you will not find yourself in this dilemma.

Covetousness, or the love of money causes evil in the lives of many. How many have robbed God of what should have been given to His Cause and Kingdom (Malachi 3:8–10)? How many have robbed the lost of hearing the gospel because they did not give liberally to help spread it throughout the world (Romans 10:14–15)? How many have been led from the faith by the love of money (1 Timothy 6:10)?

Money cannot solve all problems, or buy happiness (Luke 12:15), but it is unwise use can destroy friendships and isolate families. The apostle Paul stated that covetousness is idolatry. When we have an unhealthy desire for possessions, we let money become our god (Colossians 3:5; Matthew 6:24).

You  love money too much when you become insensitive to the needs of those about you. The apostle John says that God’s love does not abide in us when we do not show compassion to the needy about us (1 John 3:17).

“For what shall it profit a man, if he shall gain the whole world, and lose his own soul?” Mark 8:36. Our failure to view our present lives through the lens of eternity is one of the biggest hindrances to seeing our lives and assets in their true light. Yet, Scripture states that the reality of our eternal future should determine the character of our present lives and the use of our money and possessions. People who do not know the Lord look at life as a brief interval that begins at birth and ends at death. With no eternal perspective, they think, “If this life is all there is, why deny myself any pleasure or possession?” But those who know Christ have an entirely different perspective. We know that life is short, and it is the testing time that will determine our fitness for heaven. “The days of our years are threescore and ten; and if by reason of strength they be fourscore years . . . for it is soon cut off, and we fly away. . . . So teach us to number our days, that we may apply our hearts unto wisdom.” Psalm 90:10, 12

May the Lord give us wisdom as we humbly submit our will to His. “Cease to do evil;  Learn to do well.” Isaiah 1:16–17. God knows what your basic needs are—food, clothing, shelter, health, education, transportation, etc. and He promises to provide for those who put their trust in Him and make service to Him first in their lives.

Victor Shumbusho, DR Congo