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‘Today, there are three kinds of people: the have's, the have-not's, and the have-not-paid-for-what-they-have's.’ Earl Wilson.
Photo: Tearfund.
We live in a culture that positively encourages getting into debt through overdrafts, loans and credit cards, in order to afford the latest stuff on the high street. We start borrowing young. First a fiver from your mate or your mum, then 50 quid from your gran, and before you know it you're best mates with your bank manager and they’ve agreed to lend you a couple of grand. But it’s ok because you’re a responsible young adult and you’ll only spend it on absolute necessities. But then there’s that new iPod, cool pair of trainers, Xbox and suddenly your room is full of gadgets with not a sausage in the fridge. Once you turn 18 your bank will provide you with an overdraft facility to live in and a montage of credit cards to decorate your wallet with. You’ll feel really grown up using them until it’s time to pay it all back with interest.
Passionate spirituality
The Bible doesn’t forbid us to borrow money but it encourages us to avoid debt (Proverbs 22:7). Once you’re in debt it is really hard to get out of it. The rush to buy and the initial excitement fades fast when you check your bank statement and discover you’re going to have to make a can of baked beans stretch to three meals a day for a term to afford repayments. Two days in and the sight of another baked bean has you running to the supermarket for pizza and the emergency budget is history. The problem is that we have a habit of repeating history. But Jesus challenges us to form good habits with our money. Walking away from the temptation of more clothes we just don’t need, or music we can’t afford, in favour of freedom from debt.
Responsible lending
Sheuly rears chicks - feeding and growing them and then selling them at the local market. The income pays for her children to go to school. Photo: Richard Hanson.
Tearfund partner HEED in Bangladesh lends money to women to start businesses, without having to pay exorbitant interest to moneylenders.
Some women have set up hatcheries, some rear chicks, some run egg production units. The result is families empowered to cope with poverty. Instead of being driven into debt, they are able to establish a livelihood for themselves and their loved ones, escaping the poverty trap and creating a better future.
What does it mean for me as a disciple?
There are going to be times when you have to borrow money e.g. to go to university, from your parents, a bank or the Student Loan Company. It can be tempting to go for the max amount offered even if we don’t need it!
What is my response?
- First budget and think about how much money you need each week to live off. Fill in our online Budget Buddy to help you work out your monthly expenses
- Borrow as little as possible for as a short a time as possible
- Keep to your Needs vs. Luxuries list
- Ask God to give you His help to stick to your budget
- Be accountable with your friends and pray about it together
- Spend in cash. Avoid using credit cards, even debit cards, because you forget what you spend
- Avoid the shops if they’ll only tempt you
- Find ways to share costs with housemates, invite friends round to hang out rather than go out
Talk2God
In the desert, the devil tempted Jesus with wealth so He knows what it feel like to feel the desire for more money. But He rejected it knowing it could never replace His relationship with God. Ask God to give you Jesus’ attitude to money.
So you've thought about your attitude to giving, saving, spending and borrowing. Why not think about your bank's attitude to how it uses the money you invest in it. Click here for questions you can ask your bank and ways you can invest your money ethically.