Implications and Responsibilities of Financing with Debt

Topic:

Thread: The world of finance teaches that borrowing money can be a high-risk, high-reward option. Scripture has some passages that seem to clearly warn people to be cautious about getting into debt. Read the following Scriptures and write a thread of at least 250 words discussing what the Bible does and does not teach about debt. At minimum, address the following questions:

  1. What are some of the natural consequences of borrowing money?
  2. What is “co-signing” a loan? What advice does the writer of Proverbs have about the wisdom of co-signing a loan?
  3. What are the obligations of anyone who borrows money?

Be sure to reference any Scriptures you use to answer questions. In addition to Scripture, you must cite at least 1 article that addresses the topic.

Scriptures to read (minimum…feel free to find more!): Psalm 37:21; Proverbs 11:15; 17:18; 22:7, 22–27