Incurring Personal and Corporate Debt

Debt is stated many times throughout the Bible, and it really pushes the point that you should avoid incurring debt at all cost. Being in debt is a common thing most people and companies face at some point, and sometimes the debt you have incurred can be a good thing or a bad thing. As defined by the Oxford Dictionary, debt is “something, typically money, that is owed or due” (Oxford, 2012). Debt, in the finance world, is directly correlated to how much risk a company has. Some risk or debt is acceptable, until it gets out of control. However, if no risk is presented in a company, not many people will invest. Proverbs 22:7 says, "The rich rule over the poor, and the borrower is slave to the lender." This is a great example of how we should be living our lives and running our companies. When dealing with the issue of debt, one must consider the risk and return on accumulating and eliminating debt. The verse from Proverbs is a great example of how risk affects our own personal and corporate lives. Whenever a loan or debt is taken out, one becomes a slave to the lender. We must be wise and careful as to whom we accept loans from and how much we take out. We must also be good stewards in who we, as a company, will lend money to. Ecclesiastes 5:11 says “As goods increases, so do those who consume them. And what benefit are they to the owner except to feast his eyes on them?” As more items are manufactured, marketed, and sold in this world, more people will be enticed to purchase them. These items are usually just for pleasure. Like the verse stated, these possessions are only of value to the owner, but what good will it be to help with spreading the Gospel and God’s love to others if ones time, focus and energy is in purchasing x, y, and z for ones’ own gain. Often times, people do not have the sufficient funds readily