What Romans 13:8 Teaches About Financial Debt

Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law. (Romans 13:8 NIV) This week someone very kindly, politely, and respectfully challenged me to rethink my position on debt and credit cards.  Her belief is that when one uses a credit card (even if it is paid off every month), she is in debt.  Romans 13:8 was one of … [Read more...]

How Good Debt Can Go Bad

Have you heard someone say, “debt is fine as long as it’s ‘good’ debt?”  The idea of good debt is defined as using debt to purchase something that will appreciate in value.  Some view it as a tool that helps you meet your goals faster and more easily.  Here are four common sources of ‘good’ debt and how these debts can actually turn bad. Home Mortgages Paying cash for a home is very difficult, … [Read more...]

4 Debts You Should Try to Avoid

Excessive use of debt can be a major hindrance to your financial independence. Although sometimes unavoidable, here are four debts you should try to avoid as much as you can. Credit Card Debt Most of our debt problems come from the overuse or misuse of credit cards. Here are some interesting stats from the Federal Reserve's latest Survey of Consumer Finances for 2007. 46% of families have a … [Read more...]

How to Invest at Lending Club | A Guide for New Investors

I recently had a reader email with a follow-up question regarding p2p lending at Lending Club.  He essentially wanted to know how to invest at Lending Club. Here’s the question: Could you explain to me how lending club works as an investor? What type of initial investment is needed? Do you fund individuals or across the board? I thought the question would be good to address in this … [Read more...]

How to Graduate from College without Student Loan Debt

There is something called the ‘student loan myth’.  The student loan myth is the assumption that it is impossible to graduate from college without student loans.  Those who believe this myth think that if they are going to go to college, they MUST get student loans.  This type of default thinking is financially dangerous. The Danger of Default Thinking Default - a : a selection made usu. … [Read more...]

Student Loan Debt Forgiveness | For Ministers & Non-Profit Workers

The following is a guest post by Cary McCall.  While reading a post at One In Jesus I saw Cary made a comment about debt forgiveness for ministers.  I asked him to explain more and he sent me this post.  I read it and even got permission from the website owner, Jay Guin to use this post that he also has on his website.  If you have any questions either Cary or I could try and answer them in the … [Read more...]

Credit Card Consolidation & 0% Balance Transfers | Does It Really Help?

On a recent post telling how to deal with credit card debt problems, I shared some advice and resources for getting out of debt.  In that same post, Darren (from More Than Finances) asked what I thought about 0% credit card transfers.  I gave a quick answer and thought I’d deal with it in more detail today. From a purely mathematical standpoint, there is no denying that taking advantage of 0% … [Read more...]

Christian Lenders | Should Lending Be Abolished?

This week I’m continuing to think through the implications of the statement: the borrower is slave to the lender.  How does this impact Christian loans and Christian lenders? Perhaps, I’m wrong, but taken at face value, this passage (Prov. 22:7) seems to indicate that any Christian who lends would then be a master.  Since the Bible says we have only one master, then it seems as if it would be … [Read more...]

Borrower is Slave to the Lender | The Point

If I had one follow-up question on my original article that asked the question is the borrower slave to the lender, my question would have been – what’s the point?  Craig, what are you trying to say?  What is the application?  Honestly, until I read all the comments, I don’t know if I could have answered that question.  I was just thinking on paper.  However, I’m slowly starting to develop a … [Read more...]

Is the Borrower Really Slave to the Lender?

It’s been a while since I had a good ol’ fashioned accusation of being a heretic, so I thought I’d stir up a little trouble today. “The Bible says it, that settles it”. This is a great statement to live by as long as you’ve done at least a little bit of work to confirm that the Bible says it. I’ve been growing more and more uncomfortable with the common usage of Prov. 22:7.  The passage was … [Read more...]