DIVINE INSTRUCTIONS to live by
(By: Pastor Taiwo Iredele Odubiyi)
( 220) Avoid foolish and unnecessary financial risks.
Don’t agree to guarantee another person’s debt or put up security for someone else’s loan.
If you can’t pay it, even your bed will be snatched from under you.
(Proverbs 22:26 NLT)
This part of the scripture is a warning against foolish financial risks or financial choices that can create financial crisis for you and your family. It is okay to help those in need and you should be generous to the needy but you should be careful to guarantee their debts unless it’s a liability you can easily pay off if you have to.
In the novel THE FOREVER KIND OF LOVE, Dayo told Mercy, “Thanks but I can’t take commission on this particular one. Joshua is my very good friend. Actually, I have three very close friends … The four of us move together and do things together. We are like brothers from different mothers. I can’t make profit from any of these three guys. We are close to the extent that assuming Joshua is not able to pay you the money, one of us or all of us will have to cough it out.”
Dayo was able to say this because the three friends were good friends, committed Christians, and reliable.
And so, other things to consider before guaranteeing a debt are:
1) your relationship with the person. Who is the person to you? There are people you will need to help but make sure that your family’s needs are covered.
2) the amount of the loan,
3) will the person be able to hold on to his/her end of the arrangement?
4) is the person prudent? Don’t guarantee the loan of a financially reckless person because you can get pulled down along with the person.
Overcommiting yourself can wipe you out financially.
As a child of God, be careful about taking risks, and stay away from unnecessary risks that can result in losses to you unless you’re willing to bear them. God doesn’t expect you to lose the blessings He is giving you through carelessness or foolish decisions. He wants to guide you so you can sense danger or trouble ahead and avoid it.
Scriptures:
One who has no sense shakes hands in pledge and puts up security for a neighbor.
Proverbs 17:18 NIV
Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe.
Proverbs 11:15 NIV
My son, if you become surety for your friend, If you have shaken hands in pledge for a stranger, You are snared by the words of your mouth; You are taken by the words of your mouth. So do this, my son, and deliver yourself; For you have come into the hand of your friend: Go and humble yourself; Plead with your friend. Give no sleep to your eyes, Nor slumber to your eyelids. Deliver yourself like a gazelle from the hand of the hunter, And like a bird from the hand of the fowler.
Proverbs 6:1-5 NKJV
I pray this year brings everything that will make you smile in Jesus name.
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