Sabbath: Dealing With Debt
Image © Pacific Press
Sabbath Afternoon
Read for This Week’s Study: Deuteronomy 28:1-2, Deuteronomy 28:12; Matthew 6:24; 1 John 2:15; Proverbs 22:7; Proverbs 6:1-5; Deuteronomy 15:1-5.
Memory Text: “The rich rules over the poor, and the borrower is servant to the lender” (Proverbs 22:7, NKJV).
One definition of debt is “living today on what you expect to earn in the future.” Today debt seems to be a way of life, but it should not be the norm for Christians. The Bible discourages debt. In the Scriptures there are at least 26 references to debt, and all are negative. It does not say that it is a sin to borrow money, but it does talk about the often-bad consequences of doing so. When considering financial obligations, Paul counseled: “Render therefore to all their due: taxes to whom taxes are due, customs to whom customs, fear to whom fear, honor to whom honor. Owe no one anything except to love one another” (Romans 13:7-8, , NKJV).
Why is debt an almost international scourge at every level — personal, corporate, and government? Every society has always had at least a small percentage who were in debt. But today a much larger portion of the people are in debt, and it’s almost never to their benefit.
This week we will consider the reasons for debt and how to deal with it. You may be debt-free, but you can share this valuable information with family and friends who could benefit from it.
Study this week’s lesson to prepare for Sabbath, February 4.
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For quite a number of years, I taught maths to first-year business students. These students were mainly just out of high school and had presumably done some work on compound interest. My job was to teach them about mortgages using spreadsheets. My biggest concern was that these students had no idea about how mortgage repayments worked. A typical example (note I am talking about 20 years ago) they were asked to work on was something like this: You borrow $100.000 at 6% per annum for 20 years. What is your monthly repayment? What is your monthly repayment, if after 2 years the interest rate rises by 2%?
While the mathematical aim of this exercise was to teach the students how to do financial calculations in Excel, the hidden agenda was to teach them the situations they needed to consider when taking out a mortgage to buy a house or business. They needed to know the commitments and risks and how to reduce those risks.
Currently, in Australia, the average home mortgage is about $500,000 and the interest rate has risen by nearly 2% in the last 12 months. You only need a minimal understanding of compound interest to realise that such a change is going to put a big repayment stress on a lot of families.
Now, this is a Sabbath School class and not Business Maths 101, but in our modern world, can I suggest that prayer and Bible study be followed up by some solid maths and risk analysis? Simply trusting the Lord to provide, when you have not done the groundwork, is presumption.
On Sunday the author says offerings can not be used as an appeasement to God. Yet on Wednesday, we see Cornelius, a generous giver, moving God into action where He sends his angels to talk to him.
One of the reasons for sending the angels was the appreciation of the alms by Cornelius. How do we reconcile the two?
Hi, Precious. To me, the starting point for resolving this question must be the bedrock Christian principle that, in and of ourselves, we have nothing to offer God. Romans 3:10-18 quotes Isaiah's description of the natural man, and it's not a pretty picture. Romans 7 expounds on the practical implications of this. In verse 18, Paul states:
When we put this together with Paul's other statements about the futility of trying to be justified by the deeds of the law, we may quickly reach the conclusion that there is no place in Christianity for anything like creature merit.
In this light, what seems to have been happening with Cornelius? His prayers and his alms giving were evidence that the Holy Spirit had been working on his heart. So, sending an angel -- and then Peter -- to talk with Cornelius would have been the next natural step for God to take in a progression toward the man's salvation.
Did God appreciate Cornelius' good works? Yes, God seems to have this wonderfully charming way of doing a work of grace in our hearts and lives, and then rewarding us for the results. But did God owe Cornelius anything? Absolutely not!
Acts 10 makes it clear that Cornelius was seeking God with all his heart, soul and mind. The prayers, alms giving, and leading his household to God were not an appeasement to God, but evidence (a result) of his total devotion to God. The Holy Spirit was writing God’s law of love on his heart.
However, he lacked one thing: he knew about Jesus, but he did not know him. The Holy Spirit was acting in this situation to bring both Cornelius and Peter to a whole new understanding of God’s love as revealed by Christ. God sent his angel (messenger) that Cornelius and his household might know the living Christ and be drawn even closer into his presence. The Spirit was poured out in evidence of this. This Gospel message was not just for them, but also for us.
Hi Precious. Greetings from PNG. It should be the other way around. The Holy Spirit impressed his heart first to give. His giving is the outward expression of the Holy Spirit working in him. God lovingly responded to His cheerful giving.
For the conscientious person, living with debt can become an extreme burden. Dealing with it effectively touches the physical as well as the emotional and spiritual aspects of life. Getting caught up in debt is a snare that restricts ones free movement of decision-making.
Debt is like a millstone hung around one’s neck possibly drowning one in misery by its weight. I agree with the lesson writer that debt represents the scourge of the world’s ‘way of life’; everyone becomes the lender's slave.
Wanting to live within one’s means is being challenged by the ‘motivators of consumption’ at every corner. Simple living has become an obstacle course trying to find the balance between one’s needs and obligations and one’s desires.
I suggest that the successful course is found right in the middle between receiving and giving, the two ‘poles’ which define the balanced course through life.
I appreciate reading Rom.13:7-8, as it speaks so broadly to that which we owe each other and offering the advise that, when having done all to meet our obligations, we ‘owe no one anything except to love one another’. And this means freedom to be an effective steward, indeed.
They say debt is a double edged sword. If used wisely and not excessively, it may bring about some release or benefit.
Maurice, I agree with your comment on having „solid maths and risk analysis“ besides prayer and God‘s counsel, before falling into debt.
As a freelancer beside working in the field of financial management & controlling, one of my contracts was also teaching business maths, including calculations of mortgages and bank loans. At that time, I myself had bought a home on mortgage and all was well planned and calculated. Within 5 years I would have been able to pay off the loan plus interest incurred.
However, after 3 years things turned differently and for more than half a year, I was not able to get a new contract, meaning, there was no income.
What to do in this case? With prayers and careful thoughts I simply sold the house incurring good profit and with God‘s help was able to find a smaller and much cheaper one, debt-free.
So confirming Maurice‘s comment: „ Trusting God to provide plus doing the groundwork“ is essential because life‘s circumstances are always changing and debt can have an adverse impact on our lives.
These texts seem very clear; God commanded His people to not borrow: