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Three Rules for Borrowing

Did you know that Scripture does NOT prohibit borrowing?

The Bible doesn’t prohibit borrowing, but not one positive reference can be found. In fact, most of the references are warnings about the dangers of debt. Credit card debt is surging as Americans struggle to keep up with inflation and the rising cost of living. Besides rising balances, the number of new credit card accounts has increased dramatically. It’s a costly form of debt. We’re the only generation in history to borrow significant amounts of money to purchase consumables like food, clothes, vacations, or repairs. Our grandparents could never imagine this. They lived on what they earned and saved in anticipation of hard times, and you can too, but it requires a different mindset than our ‘buy now, pay later’ culture. 

Educate and discipline yourself to experience the freedom that comes from paying your bills on time – in full – every month. Try my 3 rules when it comes to borrowing. First, only use credit cards for items that you’ve budgeted for. If it’s not in your budget for the month, don’t buy it. Second, pay your credit cards off every month. This prevents you from getting in the cycle of paying outrageous interest charges. Finally, if there’s a month where you can’t pay your bill in full, lock the credit cards away. Only use cash until your bill is paid. Yes, you can borrow, but ONLY what you can repay on time.

If credit card debt is stressing you out I recommend Christian Credit Counselors. They’ll create a debt management plan works for you. Call the Crown Helpline at 800-722-1976 or visit online at