My child, if you co-sign a loan for a friend or guarantee the debt of someone you hardly know— if you have trapped yourself by your agreement and 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. Save yourself like a deer escaping from a hunter, like a bird fleeing from a net.
Proverbs 6:1-5 (NLT)
In this lesson, we are going to discuss a tidbit of wisdom on responsible money management. Prudent money management causes me, a Certified Public Accountant, to perk my ears up and listen. So let’s get ready to learn.
Today’s selection of verses, warns us against entering into financial contracts guaranteeing the debts of strangers. We should not guarantee that which we cannot control. If we have no control over it and cannot afford to lose it, then we should not guarantee it.
The money management skill of a stranger is usually beyond our control. Therefore, wisdom tells us not to vouch for a stranger’s debt at the risk of overextending our financial resources. If we do, we might find ourselves at the mercy of an irresponsible debtor.
Too often, we allow inner pride to lead us into making boastful promises. Foolishly, we lend our personal names as a guarantee for a stranger’s behavior. We cannot force people to be wise, nor can we control their actions. Furthermore, we should never be an enabler of sinful, irresponsible behaviors.
Please don’t misinterpret these verses to justify hard-hearted stinginess, because God encourages us to help people in need. In fact, love dictates that we do what we can to ease the sufferings of other people, especially those who are in the household of faith (Galatians 6:10).
Paul spoke up and he became surety for Onesimus’ debt in Philemon 1:18-19. “If he has harmed you in any way or stolen anything from you, charge me for it. I, Paul, write this in my own handwriting: ‘I will repay it’” (NLT).
Although we are not to be tight-fisted, we are to be good stewards of God’s money. Yes, everything that we have belongs to God. Thus, we should avoid putting our foot in our mouths by making prideful promises that will waste the gifts that God has bestowed upon us. We need to behave in a financial responsible manner, practicing good stewardship of God’s money.
If you personally have promised to cover a stranger’s debt, humble yourself, go to that individual, and beg to be released you from that obligation. Do not procrastinate; rather, swallow your pride and do it quickly. Like a bird that flees a net, swiftly fly to be free from the prison of your prideful tongue.
…Do not participate in the sins of others. Keep yourself pure.
1 Timothy 5:22 (NLT)
Three Key Concepts:
1. Allow no inner pride to lead you into boastful promises.
2. Do not fall into a trap created by a slip of your lips.
3. Keep yourself pure and never enable sinful behavior.
