For the Lord your God will bless you, as he promised you, and you shall lend to many nations, but you shall not borrow, and you shall rule over many nations, but they shall not rule over you.
“…but you shall not borrow…”
I believe God is advising Israel on how to stay wealthy and self-sufficient, as a nation and a people. I believe God is advising us, on a personal level, on how to stay in control of your life.
I’m not going to get into the amount of debt we have as a country, nor the amount that other countries owe our country. I guess I just wanted to write about another example of advice and wisdom that has transcended through the ages.
Debt has certainly become a way of life for most people. The average household credit card debt is an astounding $16,425. That may not be astounding to you but to me it’s insane.
Take that category of debt and add in mortgages, car loans, student loans and you have an average household debt of $135,924.
The really sad part of this is the households that have the highest average credit card debt are the households that have zero or negative net worth.
King Solomon knew the pitfalls of debt when he wrote:
The rich rules over the poor, and the borrower is the slave to the lender.
We’ve all fall prey to the Madison Avenue messages of having to have the latest and greatest. And we fall prey to the money lenders who can make this all possible for a “nominal” fee. But at some point in your life you have to mature, financially and personally, and realize these toys aren’t necessary. These toys that are thrust in our faces everyday are simply vanity and striving after wind.
Debt is a way of life for many. Debt allows other to rule over you. So it was true in the times of Moses and so it is true today.
You will never get rich accumulating debt. You won’t even become self-sufficient accumulating debt.
(I did read an article by what I would consider a rather unscrupulous individual who was, you guessed it, selling a book on how to borrow money to invest and get rich. I guess he never heard of the Great Depression, or maybe I should say those who whip out the old credit card to go into debt to make this guy rich, they never heard of the Great Depression.)
Know this, through debt you will only remain a slave to the lender. You will be chasing vanity the rest of your life.
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