September 29, 2022

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Dave Says Column: My spouse and I’ve plans to enter the mission subject as quickly as we’ve got paid off our debt

Pricey Dave,

My spouse and I’ve plans to enter the mission subject as quickly as we’ve got paid off our debt and get a full emergency fund in place. We solely have about $12,000 in bank card debt left, and we don’t personal a house, however my father doesn’t need this debt to face in our approach. He has supplied to repay the bank cards, and make it a mortgage the place we’d pay him again over time. It’s a tempting provide, however we each really feel unusual about accepting it. What do you assume we must always do?

Brandon

Pricey Brandon,

Your dad seems like a beneficiant, good-hearted man. However contemplating the purpose you and your spouse have, I need you to assume for a minute concerning the religious implications of a scenario like this.

Proverbs 22:7 says the borrower is slave to the lender. Now, the Bible doesn’t say debt is a sin, but it surely undoubtedly discourages debt, and it teaches us to dwell our lives otherwise than the remainder of the world. That’s the case relating to dealing with cash, too.

In the event you do that, you’d be turning your dad into your creditor in a really actual sense. That’s going to make household dinners style completely different, since you’ll be consuming together with your lender as an alternative of simply good previous dad. Cash has a approach of adjusting the household dynamic, and it’s virtually by no means for the nice. All of the sudden, you’re getting raised eyebrows in case you purchase one thing for your self, as a result of even the nicest, most beneficiant people have opinions.

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If it have been me, I’d say thanks, however no thanks. There’s no approach I’d be in monetary debt to my dad.

Now, if he have been to supply to make paying off your debt a present—one which was given with no strings connected that can assist you two get into the mission subject faster—I’d be okay with that and I’d be deeply grateful and honored.

However I might by no means let you know to enter debt to a guardian. Your dad might be pondering it’s higher so that you can be in debt to him relatively than some uncaring financial institution or bank card firm. However I simply wouldn’t wish to do something which may jeopardize your relationship.