In the Bible, we find that people were poor for a variety of reasons. The same holds true for us today. Thus far, I have noted that sin can cause poverty. Situational poverty and injustice are two additional reasons for this malady.
Notice now, poor financial management.
I remember counseling a lady a few years ago that needed help with her personal finances. She came to me with the issue. As I explored her situation, I found that she owed better than $12,000 in credit card debt and, to be honest, she had nothing to show for it. She had a cracker box house, no vehicle, used furniture, and a poor wardrobe. This little widow lady had spent nearly everything that she had to try to get ahead of the mounting debt but was unable to do it. She was sunk.
How did it happen? She hardly made enough to keep body and soul together. Therefore, she ended up having to charge her food and her prescriptions on her cards. Then too, the credit card companies were more than willing to continue to send her a seemingly endless stream of credit card applications.
As the debt grew, she applied for more plastic. The cycle was endless. As her credit rating slowly sent south, her interest rates went up until her interest payments were literally higher than her minimum payments. In other words, the lady was actually going farther in the hole each month whether she charged anything or not. Tragic!
Notice these Scriptures:
The Redeemed Team
Notice now, poor financial management.
I remember counseling a lady a few years ago that needed help with her personal finances. She came to me with the issue. As I explored her situation, I found that she owed better than $12,000 in credit card debt and, to be honest, she had nothing to show for it. She had a cracker box house, no vehicle, used furniture, and a poor wardrobe. This little widow lady had spent nearly everything that she had to try to get ahead of the mounting debt but was unable to do it. She was sunk.
How did it happen? She hardly made enough to keep body and soul together. Therefore, she ended up having to charge her food and her prescriptions on her cards. Then too, the credit card companies were more than willing to continue to send her a seemingly endless stream of credit card applications.
As the debt grew, she applied for more plastic. The cycle was endless. As her credit rating slowly sent south, her interest rates went up until her interest payments were literally higher than her minimum payments. In other words, the lady was actually going farther in the hole each month whether she charged anything or not. Tragic!
Notice these Scriptures:
- Proverbs 21:5, “The plans of the diligent lead to profit as surely as haste leads to poverty.”
- Proverbs 11:15, “He who puts up security for another will surely suffer, but whoever refuses to strike hands in pledge is safe.”
- Proverbs 22:26, “Do not be a man who strikes hands in pledge or puts up security for debts….”
- Proverbs 22:7, “The rich rule over the poor, and the borrower is servant to the lender.”
The Redeemed Team
