Thoughts from daily Bible reading for today – July 12, 2015
My son, if you have put up security for your neighbor … Go and humble yourself; press your plea with your neighbor! Allow no sleep to your eyes, no slumber to your eyelids. Free yourself. Proverbs 6:1, 3–5
It is hard to manage our own debt obligations, much less the debt commitment of another. Therefore, wisdom says to free yourself from financial surety so you are free to serve. It is not smart to cosign credit on behalf of another. If you do, make plans to pay what is due. Or in bold humility, go to the one for whom you partnered or cosigned, and ask if you can get out from under the financial obligation.
Even if you pay a penalty for backing out, what price would you pay for your newfound peace of mind? Financial overextension is unwise. Perhaps you should consolidate your credit and make a bold plan to pay down your personal debt. Debt reduction is smart, especially during recessionary times. The “borrower is servant to the lender” (Proverbs 22:7); so in humility and boldness you can break the chain of financial servitude.
“You were bought with a price; do not become slaves of men” (1 Corinthians 7:23 nasb).
It is countercultural to limit credit or abolish it completely. Why make credit convenient to a spender who struggles to stay within a budget? Therefore, apply discipline and sacrifice. You can experience the peaceful result of debt-free living. Perhaps in bold humility, ask your parents to match every dollar you pay toward debt reduction.
There is one other word related to cosigning. There may be a young person who needs someone to vouch for his or her character and credit. Like the apostle Paul guaranteed the servant Onesimus’s repayment, you may be led to do the same for someone. Perhaps you ultimately see your assistance as a gift. If you are paid back, it is an unexpected bonus. Relationships are much more valuable than cash. Regardless of the stressful situation, make sure you manage expectations with prayerful prudence and bold humility.
“If then you consider me a partner and a comrade in fellowship, welcome and receive him as you would [welcome and receive] me. And if he has done you any wrong in any way or owes anything [to you], charge that to my account. I, Paul, write it with my own hand, I promise to repay it [in full]” (Philemon 1:17–19 ab).
Prayer: Whom do I need to boldly, but humbly approach about dissolving a financial arrangement?
Related Readings: Proverbs 22:7; 1 Corinthians 7:23; Philemon 1:1–25
Post/Tweet this today: Wisdom: consolidate your credit and make a bold plan to pay down your personal debt. #financial humility #wisdomhunters
Taken from Two Minutes in the Bible Through Proverbs: You’ll soon be enjoying the benefits of a storehouse of wisdom in your heart. Pre-order Boyd’s newest devotional book coming August 1st! (Learn more about our friends at Harvest House Publishers)
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