Should Christians take Loans? Romans 13:8 Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law. Does this mean that, it is a sin to take a Loan or Mortgage? Not exactly, it means we should not become a habitual or chronic Debtor, which is very different from taking Productive Loans. A habitual or Chronic Debtor, is one that takes or sign up for Credit/Loans that he or she cannot afford, and sometimes find his or her self in a situation that his/her income cannot service the commitments! Then before you know it, such a person is taking a Loan to pay a Loan! A lot of times, this situation is fueled by greed or lusting for what you cannot afford! Refusing to delay gratification. While Credit is very good when used productively, it can also be dangerous and drive an individual to ruins or to do despicable things! Hence, do not become a Chronic Debtor. However, there is Credit that is good, and I call them Productive Debts; Debts that enable you to move forward, to change levels or achieve bigger objectives in life. For example, when you borrow money to buy a car, within the limit of your income. You have done your calculation and you know that you can afford the installment, insurance and running expenses of that particular car. You allow yourself, to grow into it as against jumping into it. Meaning, based on my income today, I can afford a Toyota Corolla, as The Lord blesses me and I progress in life, I will at a later date be able to afford a Mercedes. If I insist on that Mercedes today, when all I can afford is a Corolla, then I am doing something wrong! Likewise, I could take a Mortgage to buy a home for myself and family and stop paying rent. This is Productive, and moves me forward, but the same principle as a Car applies, it has to be based on what I can afford and not what I lust for! I cannot decide to buy in a neighborhood or a big house that I cannot afford and I need prayer and fasting every month to pay my bond/mortgage! Also, when you get into the area of Business, you cannot really do big things without borrowing money! The banks are there for that purpose. If you are doing business that does not require you to borrow money, you are not doing anything big yet! As you expand the vision, and conquer new markets with products and services you will need to borrow. However, the same principle of affordability always applies. Lastly, their are debts that I am completely against. I do not like Store cards, by which I borrow money to wear the latest clothes or shoes! Or borrowing money to go for a Dream holiday, or to throw a party! Or anything that amounts to borrowing money to sustain a false lifestyle, I call them consumption debt! I will rather delay the gratification until I can afford it! In conclusion, affordable debts that are productive and moves you forward towards your life objectives are acceptable and they help you win in life! Think win! supposing, you are already over borrowed, what can you do? I will write again about that!
Posted on: Wed, 17 Sep 2014 12:52:58 +0000
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