It is better that you should not vow than that you should vow and not pay – Ecclesiastes 5:5
In this day and age it seems to have become more and more common for people to live above their means, and to use credit and debt to increase their lifestyle. Instead of saving up for things and paying cash, they buy today and pay the consequences tomorrow. In fact, many people buy things knowing full well that they won’t be able to pay, or that they will most likely will default.
This verse speaks to me about the importance of living up to your obligations. Whether it is continuing to pay the mortgage on a house that you’re underwater in (because you signed that contract saying you would pay), or paying off the credit card debt you racked up on your last vacation, it is important to live up to the promises that you’ve made to others.
Have the integrity to follow through on what you’ve said you would do. If you know you aren’t able to afford something, it is better that you never take out the loan in the first place. Don’t fall vicitim to the mentality that it’s ok to wrack up debt, and then not pay.
Are there times that you wished you had heeded this advice, and not have taken out a loan you shouldn’t have? What did you learn from that experience? Tell us about it in the comments!
After we bought our house, a moment of great clarity hit me, and I thought “Oh boy. I have to make this payment EVERY month!” If I could have, I’d have backed out of it right there. But I’ve always lived up to my obligations, and found a way to make the payments. But it was a load off of my back when we finally paid off the mortgage early.
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We’ve always paid our debts. But there are sure some things I wish I hadn’t spent the money on! The credit card debt I ran up during college is prominent in my mind.
I really wish that I hadn’t gotten my first credit card because now I have three and $6800.00 worth of credit card debt to pay. I first justified my credit card because I had gotten pregnant with out first child and I wanted to make sure that we’d have the money to take care of her but it was so easy to use it on everything else. If I could go back, I would never had gotten one. Now I’m up to my ears in credit card payments with two children and I really don’t know what to do to pay them off.
I’d suggest cutting up the cards, setting up a family budget, cutting expenses where you can, and getting on a plan like Dave Ramsey’s 7 Baby Steps. Getting into debt takes a while, and so does getting out – but you can do it. Good luck and God bless!
A few years ago my my wife and I took out a loan for her to go back to school, and become a nurse. After being in school for a few months, she left me, and even though, she is supposed to pay it off, from the divorce judge, I a cosigned and am liable and currently paying it off .
About three years ago, I signed a $5000 contract with a “film and fashion” talent scout for our two daughters.It included headshots, training sessions and 2 talent showcases. The girls did get an agent out of the deal, booked for a commercial and a few other small paying jobs. Great experience with great financial consequences.
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For me since my credit card debt started to be up,I decided to pay it ,then stop using it ,as a financial solution.Being patient and a controller of my consumer habits.
We’ve only been in debt three times. A small student loan for my husband’s master’s degree, the medical costs for a premie, and a car. If there’s anyway we could have avoided these, it would have been so much better. I hate paying interest. We’ve been able to anticipate expenses or hold back on purchases by making do on the rest. Whew.
I let someone borrow some money because they were being evicted. We signed a contract regarding the amount and the time to be paid ,which was sixty days. When the date came due and I asked her for my money she became angry and passed the responsibility to her boyfriend.
What Biblical passage can help me deal with this appropriately?
Here is one:
Do not be one who shakes 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. Proverbs 22:26-27
And here is a larger discusssion about lending money:
Should A Christian Lend Money And Earn Interest?