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Respond to each classmate 100 words a piece
Classmate 1
The bible talks about all kinds of debt. It talks about business, personal, and more. When the bible talks about debt, Jesus is well aware that we may not purchase everything in cash. We have mortgages and car notes for a reason. However we should not be careless with our finances. We should not have a room full of wants when our obligations have not be fulfilled. When doing business, what the consumer pays needs to match the quality of what they will receive. Lastly, debt is not always financial. In the Lord’s prayer it says, “..forgive our debts as we forgive our debtors…” Debt can be our sins, our dishonesty, our failure to prioritize God and so much more. Its is very important that we recognize God in our finances both for business and for our personal lives. He wants us to be cheerful givers but we cannot do that if we are irresponsible. The Bible also speaks about reaping what it is you sew. We will not have a successful financial status until we show God that we are financially responsible and handle our debt accordingly.
Classmate 2
Owing money to a person or institution is referred to as debt. Debt creates challenges in the flow of cash which affects one’s way of life. The Bible provides insight into how to avoid debt, manage it, and the consequences associated with accrued debt. This paper aims to highlight both business and personal debt addressed in the Bible.
According to Proverbs 22.7, the borrower is a slave to the lender, with the rich ruling over the poor. This verse refers to both personal and business debt. Even if a business fails, one is still forced to pay the loan that one they took. It forces them to be at the mercy of the lender since an institution may repossess their possession at any time. Similarly, in personal debt, whoever one owes money to will hold it over their head can be compelled to do anything to repay the debt. Proverbs 6.10 also reiterates that debt results from a lack of proper planning, which results in living beyond one’s means.
In Psalms 37.21, being in debt compromises, one’s living ability since they do not repay what they borrow. Consequently, as seen in businesses financed by loans, they eventually shut down because they cannot manage the cost of operations. Personal debt also results in an individual being unable to sustain their basic needs. Debt is a rabbit hole that leads to a cycle of borrowing and spending.
The Bible highlights that the means of freeing oneself from debt is living within one’s means and when paying back everything that one owes (Romans 13.8). Having an outstanding debt is unbeneficial for both businesses and personal growth. In the end, the loans that one takes out will be repaid in disadvantageous ways, and those which cannot be repaid will render the borrower a slave to his lender.
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