Christian Financial Advice

Cliff Sabroe

• About 43% of American families spend more than they earn each year.
• Average households carry some $8,000 in credit card debt.
• Personal bankruptcies have doubled in the past decade.
• American consumers owed a grand total of $1.9773 trillion in October 2003, according to the latest statistics on consumer credit from the Federal Reserve. That is about $18,654 per household, a figure that doesn’t include mortgage debt. The number is up more than 41% from the $1.3999 trillion consumers owed in 1998.
• The majority of consumer borrowing, about 63%, is represented by so-called "non-revolving" debt such as automobile loans. But "revolving" credit, which most typically involves credit cards, is an increasingly significant part of the equation. Revolving debt currently totals $735.3 billion; that's about 31% higher than it was only five years ago. The figure has more than doubled in a decade. (www.moneycentral.msn.com)

Most Americans would admit that they struggle with debt. How should a Christian view debt?  What are some biblical principles that a Christian can apply to his or her life to prevent and overcome financial turmoil? I am not an expert on money management and I have made my fair share of financial mistakes. This being said, there is a place that I can look for financial advice. It is not a paid financial counselor, but the inspired word of our all wise Creator. Let’s note a few Bible passages that give financial advice to the believer.

What is the financial counsel of Solomon, the wisest and richest man who ever lived?

        He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity. When goods increase, they increase who eat them, and what advantage has their owner but to see them with his eyes? Sweet is the sleep of a laborer, whether he eats little or much, but the full stomach of the rich will not let him sleep. There is a grievous evil that I have seen under the sun: riches were kept by their owner to his hurt, and those riches were lost in a bad venture. And he is father of a son, but he has nothing in his hand. As he came from his mother's womb he shall go again, naked as he came, and shall take nothing for his toil that he may carry away in his hand. This also is a grievous evil: just as he came, so shall he go, and what gain is there to him who toils for the wind? (Ecc 5:10ff) (ESV)

Be cautious about countersigning loan notes.

        Be not one of those who give pledges, who put up security for debts. If you have nothing with which to pay, why should your bed be taken from under you? (Pro. 22:26f)

What does the Scripture say about my monthly bills?

        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 (Rom. 13:7-8)

What reminder are we given about borrowing money from someone and acquiring debt?

        … the borrower is the slave of the lender. (Pro. 22:7)

God expects fairness in business dealings.

        A just balance and scales are the LORD's; all the weights in the bag are his work. (Pro. 16:12)

Honesty and fairness are expected of those who wish to please God.

        He who walks righteously and speaks uprightly, who despises the gain of oppressions, who shakes his hands, lest they hold a bribe, who stops his ears from hearing of bloodshed and shuts his eyes from looking on evil. (Isa. 33:15)

Sometimes we convince ourselves that we know what it takes to be successful. God has the answers, let us always look to his word for guidance in every area of our lives.