Workshop on Personal Finance
Week 3

Debt and Borrowing
Biblical Position
Not prohibited but cautions are given
Prov. 22:7
No debtors prisons in U.S.
Excessive debt can still create bondage
Ps. 37:21
Intent to repay is character issue
Biblical contentment vs. Borrowing ? ? ?
Eph. 5:18 Controlled by the Holy Spirit ?
Self control also a character issue
Bankruptcy: Obligation to repay is an issue of

Biblical Budgeting

Stewardship

Debt and Borrowing

Where Do We Stand?

Dealing with Collectors

Budget Killers

Basic Budget

Debt Repayment

character Ps. 37:1
How far does God’s grace go?
Could God supernaturally provide?
God grows us through trials Rom. 5:3-5
What is God up to? Rom. 8:28

Questions to ask ourselves about current or potential debt
What is the obligation to the creditor?
Are you and your spouse at peace with the possible risks?
What relationships may be affected by this borrowing and how would they be affected?
Are there other ways of accomplishing this goal without borrowing the money?
Is there a relatively guaranteed way of repaying the loan if my situation changes?
Compare market value of the item with the loan amount
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