OWE NOTHING: THE BEST ADVICE
(Message by Tanny Keng)
1. Owe Nothing
a) The rule is stated in Romans 13:8, "Do not owe anything to anyone". In our modern society, it is no longer love that makes the world go round, but debt. Even in an attempt to express love, people go into debt. How many gifts are purchased on borrowed money for example? A great many people are daily spending money they don't have, and making themselves into debtors.
b) There are certain debts or borrowings that are not really debts in principle, but more like a joint ownership of property. If the property were sold in the market place, both you and the lender would receive money from the sale. You would get your equity, the portion you own, whilst the money lender would receive his entitlement, the portion you owe. This type of "debt" or liability is not really considered in this lesson.
2. The Best Advice
a) Being content and thrifty is the way to avoid getting into debt. It is also the way to get out of it. Somehow when you learn to do without and get along happily with little, money starts to accumulate. These accumulating savings are the means by which you can avoid debt or mitigate any debt you have.
b) Sometimes people incur debt through misfortune, through circumstances beyond their control. Other times people incur debt recklessly and unnecessarily. But whatever the nature of the debt, the best financial advice you can get is what we have seen in the Bible. Be content with what you have, learn to get along with humble means, and watch your debt go into reversal.
The End ...
1. Owe Nothinga) The rule is stated in Romans 13:8, "Do not owe anything to anyone". In our modern society, it is no longer love that makes the world go round, but debt. Even in an attempt to express love, people go into debt. How many gifts are purchased on borrowed money for example? A great many people are daily spending money they don't have, and making themselves into debtors.
b) There are certain debts or borrowings that are not really debts in principle, but more like a joint ownership of property. If the property were sold in the market place, both you and the lender would receive money from the sale. You would get your equity, the portion you own, whilst the money lender would receive his entitlement, the portion you owe. This type of "debt" or liability is not really considered in this lesson.
2. The Best Advice
a) Being content and thrifty is the way to avoid getting into debt. It is also the way to get out of it. Somehow when you learn to do without and get along happily with little, money starts to accumulate. These accumulating savings are the means by which you can avoid debt or mitigate any debt you have.
b) Sometimes people incur debt through misfortune, through circumstances beyond their control. Other times people incur debt recklessly and unnecessarily. But whatever the nature of the debt, the best financial advice you can get is what we have seen in the Bible. Be content with what you have, learn to get along with humble means, and watch your debt go into reversal.
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