Spiritual guidance powered by AI and grounded in Scripture
Your Question:
What's the best way to handle my business debt?
Answer:
As a pastor and a Christian, I believe that getting out of debt is a crucial step in living a responsible and God-honoring life. When a person buys something on credit terms, it's not necessarily a debt, but when the terms of that contract are violated, scriptural debt occurs. This is why Christians must get out of debt when any of the following conditions apply: you owe money for goods or services, the value of your unsecured liabilities exceeds total assets, or your spending habits are preventing your family's well-being. In my experience, getting out of debt requires a commitment to change and a willingness to take responsibility for one's finances. It's not just about paying off debts, but also about making wise financial decisions in the future. As the Bible says, "Render all due obedience to the civil authorities" (Romans 13:1), which means being responsible stewards of the resources God has given us. This includes being mindful of our spending habits and making sure we have a plan in place to manage our finances effectively. To handle business debt, I would recommend taking a proactive approach. Make a decision to get out of debt and make it impossible to go back. This might involve creating a budget, cutting back on unnecessary expenses, and making regular payments towards your debts. It's also essential to communicate with your creditors and come up with a plan to pay off your debts in a timely manner. By taking control of your finances and making wise decisions, you can break free from the burden of debt and live a more peaceful and secure life.
Sources:
introduction biblical ethics
robertson mcquilkin
power of a praying wife
stormie omartian
romans
f f bruce
my utmost for his highest
oswald chambers
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