Is it Wrong to be in Debt?

Continuing on the subject of debt, I've heard some Christians teach that it is a sin to borrow money and go into debt. One primary verse used in the argument against debt is Prov 22:7, as we discussed in the last post: "The rich rule over the poor, and the borrower is slave to the lender."

Romans 13:8 is also frequently used to argue that Christians should not be in debt: "Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law."

Note that the preceding verse, 13:7, states "Give everyone what you owe him: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor." Paul's focus is that we must pay what we owe, and not necessarily to stay out of debt. This emphasis on the importance of paying your debts is seen in other verses throughout the Bible:

Proverbs 22:26-27 "Do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you."

Psalms 37:21 "The wicked borrow and do not repay, but the righteous give generously"

If it was a sin to borrow and become indebted, Jesus wouldn't have said, "Do not turn away from the one who wants to borrow from you." (Matt 5:42) or "Forgive us our debts, as we also have forgiven our debtors." (Matt 6:12)

It is really easy to pick a verse here and there, and create a black and white doctrine out of it. But, we often miss the point entirely. So I would like to ask: what does Bible as a whole teach about this subject?

The moral question
The most important question is: Why are we borrowing money? Is it for materialism, for the appearance of prosperity (i.e. Mammon ), OR for basic needs, or for the purpose of growing wealth to enable others? Jesus talked profusely about the condition of the heart, which therefore must be the primary consideration in borrowing money. If we are going into debt so we can live beyond our means, this creates a moral problem. And, it will make it increasingly difficult to pay back our debts - which is unacceptable as seen in the verses above.

"One man pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth" (Prov 13:7). Jesus condemns the servant who buried the talent, rather than use it to gain interest. If Jesus is so hard on people who simply bury their money, how hard would He be on people who negatively go in to debt to buy frivolous things?!?

Yet, if someone uses debt wisely, they may be able to actually create wealth and provide for their basic needs as well as for others.

For those that see debt as a black and white issue: I'd like to know what is the difference between leasing your home from a landlord or loaning money to "buy" your home from a bank? Would Jesus get caught up in this argument?

We are already indebted to God. Everything is essentially on loan to us. God is the Creator and rightfully owns everything. As He is the provider, we are all called to be His stewards or property managers of all that He has given. Our Creator's generosity benefits all of us, in the same way that the under- privileged can benefit from the ability to borrow money (i.e. start a business, invest, etc).

"Wealth and honor come from you; you are the ruler of all things. In your hands are strength and power to exalt and give strength to all." (1 Chr 29:12)

"His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!" (Matt 25:21)

Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches? And if you have not been trustworthy with someone else's property, who will give you property of your own." (Luke 16:10-12).

So, I believe that debt in and of itself is not necessarily right or wrong, nor does the Bible actually forbid the borrowing of money. The Bible does clearly warn about the danger of becoming indebted, and cautions us not to borrow more than we can repay. What matters most is WHY an individual goes into debt and how they decide to USE the debt.

One final thought to consider: "Finish your outdoor work and get your fields ready; after that, build your house." Proverbs 24:27

Borrower is Slave to the Lender

"The rich rule over the poor, and the borrower is slave to the lender." (Proverbs 22:7)

The above verse seems so pertinent to current events in the U.S economy and the average American consumer right now. Here are some thoughts:

Proverbs 22:7 is direct and self explanatory. Whether we are living in 8th century B.C. Judea or in modern America, the lender will most likely charge interest or demand some sort of compensation. If we borrow something, we are now subject to the will of the lender and are forced to comply with their terms.

Every time we pay interest, we are WORKING for the lender - in effect becoming their slave. We must work just to support that debt. Not only has the lender become the master in this regard, he/she is becoming wealthier at the same time.

This is one important way that the rich become richer, and the poor become poorer. (See Matthew 25:29 - "For everyone who has will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken from him.")

The "rich" put money to work for themselves in the form of lending and investments. They earn money from their loans, just as Jesus encourages in the parable of the talents. (Matthew 25:14 - 30 ) The "rich" are masters of their money, not servants to it, as it works and multiplies for them.

Those that are "poor" not only fail to make money work for them (lend/invest), but they are losing money/net-worth by paying out interest. One borrows when they want to spend more than they actually have. The price, according to Proverbs, is servitude.

The rich, who are wise with their earnings, just keep getting richer as they continually master their use of money.

On a side note:
Its interesting that the Hebrew word translated as 'borrow' is lavah which, in addition to referring to borrowing/lending, is often used throughout the Bible to mean "to cleave" or to "entwine" or "join." For example, in Genesis 29:34 Leah desires Jacob to be "joined" with her - as an intimate lover. Hmmm...

Do we want to be joined with the lender?! Being cleaved to or entwined is the opposite of being independent. We lose our freedom at the moment we allow debt to make us the servant.
(By the way, I am not saying that all debt is bad...just trying to make observations based on Proverbs)

SO, what does this mean for Americans?

Personal spending on credit is at record levels. The average American household, has $6,000 to $15,000 in credit card debt alone (according to various statistics - who knows which to believe?) Keep in mind that this is not including mortgage debt - only consumer spending. The banks, and their investors, are getting rich by lending us money to fulfill our consumeristic desires. Are we serving Mammon?

Have we been living beyond our means????
The United States certainly has. Today, the US total government debt is over $9 Trillion Dollars. Most of the US National Debt is foreign financed, with China holding a large percentage. Is our economy becoming a slave to foreign countries? With this much debt, the lenders have the power to affect the value of our currency/markets.

Does anyone have any further thoughts on this?

Top picture is from the Culture of Life blog. The second is from Blognetnews.com. The Thirds is from The Dip Shtick, Fragments from a Cluttered Mind.

Good Samaritans in Business

The September 3, 2007 issue of Forbes Magazine has a great little article on the Good Samaritan, and what it means for the rich businessman in today's world. Check it out below:

One of the New Testament's key texts is about the good Samaritan, and its lessons can be applied to business and businessmen. In telling this tale Jesus had two objectives. The first was to condemn sectarianism. At the time, Jews were taught to regard Samaritans as heretics and enemies, but Jesus showed the Samaritan behaving better than the Jewish priest and the learned and pious Levite. The second and more important objective was to stress the importance of charity. Here was an innocent victim of thieves, robbed and left half dead by the roadside. The priest and Levite "passed by on the other side." But the Samaritan stopped, "bound up his wounds," put the injured man on his donkey and took him to an inn. There the Samaritan paid for the care of the poor man and told the owner of the inn to look after him until he was better and "whatsoever thou spendest more, when I come again, I will repay thee."

Prime Minister Margaret Thatcher quoted this text often while in office. She thought it a first-class example of practical compassion in action. The Samaritan was a businessman--a merchant, a commercial traveler--who regularly traveled a certain route and knew the inns and their owners along the way. When he found the man in distress, he acted immediately. He didn't go around making speeches, setting up a fund and using the clichés of the aid industry. He simply tended to the man, pulled out his purse and left him in good hands, personally financing any other assistance that might prove necessary. Mrs. Thatcher cited this as the best way to help an unfortunate neighbor--direct, person to person, with no bureaucracy, no elaborate rules.

But there was another point to which Mrs. Thatcher always drew attention--the reason the Samaritan was able to render such aid. He was a man of substance, a successful businessman who plied his trade industriously, lived within his income and was therefore able to provide money without hesitation when it was needed. There is, she added, a lot to be said for a society that allows people to accumulate wealth so they are able to spend it charitably.

All very well, you may say, but what about the other biblical text in which Jesus says: "It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God"? This harsh analogy "amazed" the disciples and led them to ask: "Who then can be saved?" The answer concerns not the accumulation of wealth but its disposition. It serves as a warning to the person still encumbered by his riches when he seeks entry to heaven.

Andrew Carnegie, one of the greatest of American entrepreneurs, took this particular text to heart and lived by it. He was a child immigrant, the son of a penniless Scots hand-loom weaver. Carnegie made one of the greatest fortunes in history by discovering how to produce high-quality steel cheaply--thus enormously benefiting society, as well as himself. But as he grew richer, Carnegie reflected deeply on the morality of becoming and remaining rich. He set out his conclusions in a remarkable essay that came to be known as "The Gospel of Wealth" and was published in the North American Review in June 1889. In it Carnegie argued that the honest accumulation of wealth was morally permissible, especially if in the process the interests of the public were served. What was wrong was to hang on to the wealth. He concluded: "[The] man who dies rich dies disgraced."

By the time Carnegie died in his sleep at age 83, he had given away almost all that he possessed. The canny old Scots-American had acquired his money in a businesslike fashion. And it's clear he gave it away in the same manner--and while he was still around to supervise the process (an important point).

A Better Way

More has been given in the last half-century than in all the previous ages put together. But most of it has been through transactions between governments. Immense sums have simply been transferred from one public treasury to another, with all the decisions regarding the funds--on the part of both donor and recipient--made by politicians and civil servants. The whole process takes place within a context of politics, not business, and correspondingly has been inefficient and wasteful. The big international aid organizations, though less politicized and therefore more effective, are still bedeviled by bureaucracy.

What is common to both kinds of donor, whether they're government-financed through taxes or big charities that raise their income worldwide, is that none of those making the decisions are spending their own money. It is a fundamental fact of human nature that someone who opens his own purse to give to those in need is likely to take a close interest in the ways in which and how effectively the money is spent. As a result, it is more likely to be spent wisely.

Many of the vast government aid schemes have done more harm than good, and despite all the money spent there is as much poverty and distress today as there ever has been. However, there is one consoling factor: More money is being made by the efforts of individuals than ever before. And in the U.S., where the number of such private fortunes is greatest, the culture of personal charity is stronger than ever. The parable of the Good Samaritan is remembered and heeded. The example of Andrew Carnegie is understood and followed.

We should rejoice that we have a system that allows men and women to accumulate riches--one that produces so many who voluntarily use the fruits of their industry and acumen to benefit the unfortunate. They do not, in their thousands--indeed, in their millions--"pass by on the other side."

by Paul Johnson, eminent British historian and author for Forbes Magazine.

Business Lessons from the 'Wife of Noble Character'

The final passage of Proverbs describes this "Wife of Noble Character":
Proverbs 31:10 A wife of noble character who can find? She is worth far more than rubies. 11 Her husband has full confidence in her and lacks nothing of value. 12 She brings him good, not harm, all the days of her life. 13 She selects wool and flax and works with eager hands. 14 She is like the merchant ships, bringing her food from afar. 15 She gets up while it is still dark; she provides food for her family and portions for her servant girls. 16 She considers a field and buys it; out of her earnings she plants a vineyard. 17 She sets about her work vigorously; her arms are strong for her tasks. 18 She senses that her trading is profitable, and her lamp does not go out at night. 19 In her hand she holds the distaff and grasps the spindle with her fingers. 20 She opens her arms to the poor and extends her hands to the needy. 21 When it snows, she has no fear for her household; for all of them are clothed in scarlet. 22 She makes coverings for her bed; she is clothed in fine linen and purple. 23 Her husband is respected at the city gate, where he takes his seat among the elders of the land. 24 She makes linen garments and sells them, and supplies the merchants with sashes. 25 She is clothed with strength and dignity; she can laugh at the days to come. 26 She speaks with wisdom, and faithful instruction is on her tongue. 27 She watches over the affairs of her household and does not eat the bread of idleness...

Women in Business
Contrary to many Christian stereotypes of proper female behavior, this passage does not depict the virtuous and praiseworthy wife as a submissive homebody whose sole purpose in life is to raise children and do dishes. No, this noble wife is a shrewd and profiting businesswoman! Even the Hebrew word for "noble character," often translated as "excellent" or "virtuous" literally means "power" or "strength." Of the 244 times this word is used in the Bible, it almost always means "strength", "army", or "wealth." The woman in Proverbs 31 is described in this manner, as is the Queen of Sheba in 1 Kings (10:2) and 2 Chronicles (9:1). Her strength is mentioned several more times throughout this passage.

So what makes her so strong and noble?
As is obvious from the passage, women engaged in business as well as men in Biblical times. This particular woman profits from her skills (19), selective buying of imported raw materials (13), wise trading (24), hard work (15,17,27), managing of servants (15, 26) and money sense (18). As an effective businesswoman, this wife has a successful business plan. She creates her own wealth, not by taking advantage of the poor, but out her smart choices and hard work. After buying cheap raw materials, she sews them into linen garmets and belts and then sells them to merchants for a profit. But that' not all! After accumulating wealth with the work of her hands, she spends her seed money on an asset: land. She then proceeds to improve this asset by planting a vineyard, and she continually expands her money-making enterprise. She is "like the merchant ships" and brings riches to her household. Because she is so diligent and trustworthy in managing these affairs, the husband is free to serve in the political and judicial affairs at the court in the city gate (23,31), as is customary in those times .

Her noble use of money.
Part of what makes this virtuous wife so praiseworthy is what she does with her wealth. She provides for her family and servants, but then she helps the poor and needy out of her excess. Her wise use of time and money enables her to be charitable, just like Lydia in the New Testament.

After she has provided for the needs of many, she still has the means for a little luxury. She clothes her entire household with the finest scarlet linens and purple bed coverings. She is in a position of confidence, and doesn't need to stress about the future (25). Her household is prepared for variable conditions and disasters, such as a blizzard hitting Judea (21). While "she can laugh at the days to come," she wont let her wealth make her too comfortable. The wife of noble character will never "eat the bread of idleness" and she "fears the Lord."

Because of these characteristics, this wife gains the praise of her husband and those at the city gate (28,31). Even her children called her blessed (28).

Pictures above: 1. A depiction of business women traveling in the ancient Near East 2.The Queen of Sheba conducts business with King Solomon 3. A coin from New Testament Judea, under the reign of Vespasian.

Sowing & Reaping (and Sovereignty)

I was just thinking about the next topic i plan to write on, 'Sowing and Reaping', and found that it relates well to my last post, Slack Hands and God's Sovereignty. The farming concept of 'Sowing and Reaping' is a great metaphor that displays BOTH the importance of
diligence and man's responsibilities, AND divine sovereignty. There's a ton of verses on the topic. Here's a couple:

"Do not be deceived: God cannot be mocked. A man reaps what he sows. The one who sows to please his sinful nature, from that nature will reap destruction; the one who sows to please the Spirit, from the Spirit will reap eternal life. Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up." (Gal 6:7-9)

"Whoever watches the wind will not plant; whoever looks at the clouds will not reap. As you do not know the path of the wind, or how the body is formed in a mother's womb, so you cannot understand the work of God, the Maker of all things. Sow your seed in the morning, and at evening let not your hands be idle, for you do not know which will succeed, whether this or that, or whether both will do equally well." (Eccl 11:4-6)

As in the last post, these verses stress action and the responsibilities of man ("sow," "let not your hands be idle" and "doing good"). There is a strong emphasis on what we are to DO. The farmers spreads the seed, works the field and harvest the grain. HOWEVER, the farmer did not create the seed or grain. The farmer does all that he can, BUT not everything is under his control. He can only hope and pray for good growing conditions. As it says in the Ecclesiastes verse (11:4-6), it is God who sovereignty directs the wind and sends the clouds. While we may not "understand the work of God," He is always ultimately in control. So, the metaphor of 'Sowing and Reaping' is a great depiction of the intersection of God's Sovereignty and the life and work of mankind.

Much more coming on 'Sowing and Reaping,' culture, and money on the next post!

The above picture of the oil painting is called "Sower with the setting Sun" by Van Gogh, 1888. Another version is depicted below.

Slack Hands and God's Sovereignty

In church we sometimes hear that wealth and riches are a result of God's sovereignty. Whether we are rich or poor, it is God's Will. I won't debate or elaborate on this point right now, but some of the implications of this statement are concerning.

When we place TOO MUCH emphasis on God's "sovereignty," we can disregard personal responsibility. There is automatically an excuse built into this line of reasoning. We are just WAITING on God's blessings and opportunities instead of helping bring them into fruition. After all, the reasoning goes, God is Sovereign and His Will will be done regardless. But, I believe this doctrine borders on a philosophy of Fatalism, which is not supported by the Bible.

The Bible is clear about the responsibility of righteous people as their lives intersect with God's sovereignty. Proverbs emphasises the importance of both hard work and the gaining of wisdom and knowledge to gain physical wealth, as well as spiritual, in this world. Action is required of people who want to excel.

Even Job declares that his great wealth and fortune were gained by his hands (Job 31:24-28), while also making the point that it would be sin to put his trust and base his security in this wealth.

Both diligence and understanding are emphasized in Proverbs. Verses 10:4-6 say "He who has a slack hand becomes poor, But the hand of the diligent makes rich. He who gathers in summer is a wise son; He who sleeps in harvest is a son who causes shame. Blessings are on the head of the righteous..." The righteous are those with the diligent hands. They not only work hard, but intelligently. They understand how their business works, and harvest at the right time (after planning ahead and planting seed earlier).

Proverbs 3:13-18 also depicts the importance of education (finding wisdom and gaining understanding) as leading to monetary blessings, peace, long life, and the ability to bless others:

"Blessed is the man who finds wisdom, the man who gains understanding, for she is more profitable than silver and yields better returns than gold. She is more precious than rubies; nothing you desire can compare with her. Long life is in her right hand; in her left hand are riches and honor. Her ways are pleasant ways, and all her paths are peace. She is a tree of life to those who embrace her; those who lay hold of her will be blessed."

God praises hard work that is based on wisdom and understanding (which also require diligence). If we simply "wait on God" we may miss opportunities that we never knew existed because of our lack of understanding. Being proactive and possessing the discipline that God desires, will certainly up the chances of material blessings.

See next post on Sowing, Reaping, and God's Sovereignty.

Pics of Davinci's Creation, King Solomon the Wise, and cartoon from www.missionary-blogs.com.

Welcome to God & Mammon

Some people read the Bible and transform into lonely monks hiding from all the dangerous earthly riches out in some dark cave in eastern Turkey. In other parts of the world, like Oklahoma, some hyper-emotional preachers use Jesus' words to propagate the 'gospel of prosperity', creating an eager audience who pay for every book, tape, sermon, and smile along the way.

Everybody seems to have a strong opinion about money. But, what does the Bible say? In church we hear a lot of these types of verses: "The love of money is the root of all evil," "You cant serve 2 masters, either God or Mammon," "build up treasures in heaven." But what's the rest of the story? Didnt Jesus praise the sneaky and dishonest money manager? And after increasing his money tenfold, Jesus extolled a 'faithful' servant, while treating the one who hid his money 'harshly'.

Since I dont believe Jesus was a schizophrenic, I conclude that there's some conflict in the interpretation of wealth-related issues in the Bible. This blog will attempt to strip away some of this confusion, while searching for the Biblical truth about money. We'll look at various theologians' opinions, but focus on the historical, literary, and cultural context that the Biblical text was written in. If you have any thoughts, insights, criticizisms, jokes; please share your comments!

By the way, at top is a Renaissance oil painting of Jerome, one of the most famous desert monks, by Bassano in Venice. While Jerome was hiding from Mammon, he translated the Bible into Latin Vulgate, which has been used in some form by the Catholic Church until recently. Of course the next picture is that hyper-emotional prosperity preacher man!