Caution!!! Debt is Looming Ahead by Malloy

By Randell Tiongson on September 28th, 2009

This is a written by my on-line friend, Malloy. He is an OFW based in the Middle East. Originally posted at his Multiply Site. Very good read!


God’s perfect plan for His people is to be debt-free. As we are serving a jealous God, He only wants His people to serve nothing else except Him only. For how can one serve only Him if one is in shackle of indebtedness.

When a Christian confess with their mouth, and believing in their heart Jesus Christ as their personal Lord and Savior, it is tantamount to accepting God’s offer of our redemption from the slavery to sin. In effect, the ownership of a Christian’s life has changed hands from the prince of darkness and sin to God. As a new master, the slave is ought to serve Him alone.

Jesus even warned us sternly when He says that we can not serve both God and mammon. For how can you spiritually worship the master and sovereign God if you are financially in trouble with indebtedness.

Nevertheless, God is not short of giving us reminders of the dangers of debts. He provided us a number of practical principles and guides, through the Bible on how and why indebtedness is dangerous.

In this article, I am herewith giving three, as I call it the 3S. Here the are:

1. Speculates the future (Prov. 27:1)
2. Synthetic Decision (Prov. 21:5)
3. Stops God’s will (wisdom and power) to work (2 Chron 16:9)

When one entered into a loan agreement, one commits himself to payments over a period of time, hence presuming that nothing untoward will happen such as loss employment and other unexpected expenses. Prov. 27:1 sternly warns us not to boast of the future for no one knows what tomorrow may bring.

A lot of expatriates in the UAE having hundreds of Dirhams of indebtedness got into trouble with banks and financial institutions because of termination from employment.

Secondly, synthetic rather than real life decisions are being made because of borrowing. This applies to installment purchases of an item. Because borrowing, one may decide to purchase based on whether he could afford the monthly installment rather than the total cost of such an item. Entering into a debt transaction makes it easy to say yes to low monthly installment s while ignoring the real cost of the item.

And lastly, debt could stop wisdom and power of God working in us. One may earnestly pray for some material blessing, but could not wait God to answer the prayers. Does not God taught us that patience is one of the virtues a Christian must posses? Resorting to debt in acquiring the item prayed for is like taking in advance the answer to your prayer, when you are not sure as yet as to how God will answer your prayer.

Presented herein are only 3 of those numerous teachings of the Bible in regards handling our finances and the dangers of debt. Read your Bible, take heed of its teachings, be obedient. For He who is obedient will not borrow, but will lend. He will be the head and not the tail, as the God promised.


9 thoughts on “Caution!!! Debt is Looming Ahead by Malloy”

  • thank you for this post. God is indeed using you to teach and share his word to people who need it. God bless you with more wisdom and understanding. Thanks again!

  • Good Day Sir,

    My father who pass 8 years go left me many poperties but no cash. How can I venture into business with only a 10,000.00 salary besides how can I pay for the real estate tax of this properties which are mostly residential but no house only lots. I’m planning of putting up a business which I think would earn so, I applied for a business loan. What do you think? thank you.

  • This is a great article! I try to buy things in cash as much as possible and although I am eligable to avail a credit card I stay away from it. 😉

  • True. Thank you for posting this. I think that its especially not adviseable to borrow or get a credit card when your salary is low and has no idea whatsoever on financial planning. It will only bury you on debts. It happened to me. It took me two years before I could finally pay up all my 4 maxed out credit cards which I defaulted to pay because my spending got uncontrollable. I’ve reached bottom low before I wisened up. With me spending much less than before, and with my salary having multiplied 8 times, I was able to build my emergency fund, and is now investing on insurances and stocks. I got a bit delayed, but with morearticles like this to encourage and motivate me, I’ll get my financial freedom. 🙂

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Caution!!! Debt is Looming Ahead by Malloy