3 Debt Quotes

Sun, Jul 19, 2009

Debt is an enormous burden on society today. Obviously, we can see that with the recent economic impacts on borrowers and lenders in the financial industry.

I thought it would be interesting to see what others have said about debt. Below are three quotes about debt that provide perspective on debt in our society, its impact on people, and a warning from the Bible.

Anonymous (found in Howard Dayton’s book, Your Money Map: A Proven 7-Step Guide to True Financial Freedom.

We have so much debt in our nation that the average person has been described as someone driving on a bond-financed highway, in a bank-financed car, fueled by credit-card-financed gasoline, going to purchase furniture on the installment plan to put in his mortgaged-to-the-hilt home.

I like this quote from anonymous because it gives us such a sobering view of debt in our society today. From government, to families and individuals, sadly, debt is seen as leverage or a tool to get more of what is wanted now since the money isn’t available.

Dave Ramsey

Debt is dumb. Most normal people are just plain broke because they are in debt up to their eyeballs with no hope of help. If you’re in debt, then you’re a slave because you do not have the freedom to use your money to help change your family tree.

Dave is a straight shooter and tells you like it is. I think that’s why I enjoy listening to his radio programs so much. He accurately describes debt as slavery which we can also find in the Bible. People can’t achieve financial freedom to give more of their time and money if they are hand cuffed by debt.

The rich rule over the poor, and the borrower is servant to the lender (Proverbs 22:7 NIV).

Crown Financial Ministries

God’s Word doesn’t say we can’t borrow, but it does warn us against excessive debt, and that’s called surety. Surety is the condition of being in debt without having a sure way to repay.

Surety is a Biblical principle that is often overlooked. It is taking on an obligation to pay later without a way to pay for it now.

Do you have quotes or insight you would like to share related to debt?