Loans are a quick way of accessing funds that would otherwise take forever. Many people get loans they don’t need. When your loans serve to gratify your urgent desires then surely you can do without the loan. Loans at high-interest rates are a sure way for you to get broke for ever. Loan sharks are not called so for nothing. Chances are you can survive and thrive without a loan. Those that borrow are always subject to their lender. Don’t be foolish to get into a cycle of loans just to meet your needs. Downsize, recycle, sell what you have, move to another city, change your diet or simply fast if you have to. Just don’t get locked into loans to meet your needs. Loans numb you to the pain of your expenditure because you are spending money you haven’t earned. Therefore, you spend it on things you can do without.
The only time loans can be justified is when you are going to make an investment with the loan. In that case find a low interest loan with a clear plan of repayment and ensure you spend the loan on that. Why should you labour to clear a heavy burden you did not really need? Liberating yourself from loans means you are in charge of your financial future. Otherwise you, who doesn’t have much, will have to work real hard to pay those that already have too much.
SCRIPTURE READING DEUTRONOMY 28:12 & PROVERBS 22:7 The LORD will open his rich treasury, the heavens, to release rain upon your land in season and bless everything you undertake so that you’ll lend to many nations but won’t borrow.The wealthy rule over the poor, and anyone who borrows is a slave to the lender.
DEDICATION PRAYER Dear God, give me the wisdom to handle my finances well. That I may avoid living beyond my means and getting into loans. Give me the discipline to pay off all outstanding debts. That I may get out of the ditch of debt and live free to serve you even with my money. May I be a lender and not a borrower in Jesus’ name. Amen