Warning...warning...you are not going to like this.

WARNING: THIS WILL BE A LITTLE MINI-SERIES POSTED OVER SEVERAL DAYS. IT HAS BEEN A THREE DAY STUDY FOR ME, SO IF IT TOOK ME THAT LONG, I SHOULDN'T THROW IT AT YOU ALL AT ONCE. HOPE IT HELPS SOMEONE.

Part I

Jamie & I started Financial Peace University by Dave Ramsey. I’m telling you this stuff SHOULD be taught in high schools. How drastically different our lives could have been had we understood at a younger age the principles he teaches. He makes reference to Proverbs 6: 1-11 and I wanted to dig a little deeper in it. So here is the passage:

¹My son, if you have put up security for your neighbor, if you have struck hands in pledge for another, ²if you have been trapped by what you said, ensnared by the words of your mouth, ³ then do this, my son, to free yourself, since you have fallen into your neighbor’s hands: go & humble yourself; press your plea with your neighbor’s! ⁴Allow no sleep to your eyes, no slumber to your eyelids.⁵ Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler. ⁶Go to the ant, you sluggard, consider its ways and be wise! ⁷It has no commander, no overseer or ruler, ⁸yet it stores its provisions in summer and gathers its food at harvest. ⁹How long will you lie there, you sluggard? When will you get up from your sleep? ¹⁰A little sleep, a little slumber, a little folding of the hands to rest and ¹¹poverty will come on you like an armed man.

My bible titles this passage “Warning against laziness”; I think it should be titled “Warning against debt!” and my interpretation will explain why. So let’s dig in.

 “If you have put up security for your neighbor, if you have struck hands in pledge for another”: Security is anything deposited or given as assurance of the fulfillment of an obligation that makes you bound to another’s financial burdens. This can be in the form of money, your signature, a handshake or even just your ‘word’.  This could be cosigning a home or car loan for your children or signing an agreement for a credit card. “Your neighbor” is any fellow human: friends, family, creditors, banks, etc. So rather you are agreeing to cover someone else should they default on a loan or you are agreeing to pay creditor’s money your borrowed to buy the car you couldn't afford to pay for with cash, you have placed yourself in a position to be bound to another’s financial burdens. Not only have you bound yourself to them, you have agreed to keep your “pledge” according to the terms you “shook on”.

Verse 2: “²if you have been trapped by what you said”: to be trapped is to be in an undesirable circumstance from which escape or relief is difficult. Have you ever been upside down on a car loan? Have you ever used a credit card with 21% interest and spent three years paying off $300? Have you cosigned for someone that defaulted and you were left paying the bill? Have you ever …(you fill in the blank)? I’m sure we all have our own personal situation that we can use as reference to this verse. “Ensnared by the words of your mouth”: to be ensnared is to give someone else power over you. That is exactly what we do when we buy things on credit. This makes me think of the ‘payday’ loans. I have personally never used them, but Jamie & I paused a commercial once to read the fine print they showed for about 30 seconds and the interest on the borrowed money was 300%. Yes! I meant to put two zero’s behind the three. Talk about giving someone else power over you. One more thing: have you ever noticed how payday loan companies are usually close to places such as Dollar General, or Dollar Tree? Think it is a coincidence???

Stay tuned for Part II tomorrow.