Financial Foolishness

My child, if you co-sign a loan for a friendor guarantee the debt of someone you hardly know—if you have trapped yourself by your agreementand are caught by what you said—quick, get out of it if you possibly can!You have placed yourself at your friend’s mercy.Now swallow your pride;go and beg to have your name erased.Don’t put it off. Do it now!Don’t rest until you do.

Proverbs 6:1-4

The topic of today’s Wisdom for Women is the danger of getting entangled in other people’s financial dealings. If we can learn any lessons from the financial crisis we are currently in, both publicly and personally, we can see that we have not been wise. It’s risky business to back up someone else when they are involved in risky business and can’t stand on their own. Oh, if Capitol Hill and Wall Street and those who live on our street would listen and heed God’s wisdom as stated in today’s proverb!

So, ladies, what can we learn? We need to be less dependent on credit for ourselves, our kids, and others. If we can’t save up for something we want, we need to truly assess if we really need it.

When my husband and I bought our first home, we had no one who could give us a down payment or cosign for us. The first house we tried to buy fell through because we didn’t qualify. In retrospect, it was a blessing. It was a house in an area that wasn’t good for us, and it was a payment we really couldn’t afford. So even though at the time it felt like a bad thing, it was a good thing. It taught us to be realistic. We spent the next year and a half saving. Then when we did buy, it was a victory and a blessing.

Make It Personal . . . Live It Out!

Does God really care about our finances? Yes, actually he does. Foolishness and carelessness with money has been the ruin of many marriages. Loaning money to someone who isn’t wise with money and doesn’t pay you back has soured many friendships. Let’s be wise savers and frugal spenders.

One Year Bible Reading

Exodus 8:1–9:35; Matthew 19:13-30; Psalm 24:1-10; Proverbs 6:1-5