What the Bible Says About Debt & BudgetingSubmitted by Miller Premier Investment Planning, LLC on September 1st, 2016
Like many fellow Christians, you might be wondering what does the Bible say about debt and budgeting. Proverbs 22:7 says "the rich rule over the poor and the borrower is servant to the lender. The Bible is warning us not to fall into the debt trap!
However, there is such a thing as good debt and bad debt and there are instances in the Bible where borrowing is good. What's the difference?
- Good debt is utilized for needs such as an affordable home or car to get to work.
- It can be used to increase future earnings capacity such as paying for college or a technical skill.
- It should not be used for discretionary items or items that will get depleted or disappear such as groceries.
The key is it must be affordable! Bad debt is debt that cannot easily be repaid and can prevent us from living the life that God wants us to live. So if you find yourself struggling to make payments and/or your debt seems overwhelming you should get help.
In order to avoid falling into the debt trap you must first get a grip on your cash flow. I can help you get your financial house in order, eliminate debt, generate positive cash flow, and build a rainy day fund with my very successful financial coaching and accountability program. However it is up to you to take that first step if you are ready to achieve financial peace and gain maximum return on your life! If you are serious about getting your financial house in order don't put it off any longer. Give me a call today at 817-680-8198 or click on the orange button to schedule your free 30 minute strategy session online or in person.