Should I Borrow Money?

 "Borrowing is like a wedding; repaying is like mourning." -A Swahili proverb.

THIS saying is well-known to people in East Africa, and it undoubtedly reflects the sentiment of many lands around the world. Is that how you feel about borrowing money from a friend or other sources? Though it might seem advisable at times, is it a good idea? What are the dangers and pitfalls of borrowing?

Another Swahili saying gets  to the heart of the matter. It says:  "Borrowing and lending spoil a friendship."  Indeed, debts can put friendships and relationships in jeopardy. Even with the best of plans and the most sincere intentions, things do not always turn out as expected. For example, if time passes and due repayments between the lender and the borrower-and even between their families-may become strained. Since loans  are a potential  source of friction, we might view them as a last resort rather than an easy solution to money problems. 

Borrowing money can also endanger a person's relationship with God. How?  First of all, the Bible says that it is a wicked person who deliberately and knowingly refuses to repay his debts.  (Psalm 37:21) It also makes clear that "the borrower is a slave to the lender." (Proverbs 22:7) The borrower must realize that until the money is paid back, he is under obligation to the lender. True is another African saying:  "If you borrow a man's legs, you will go where he directs you. The idea is that one who is heavily in debt is no longer at liberty to do what he would like.

Repaying what one borrows, therefore, must be given high priority.  Otherwise, difficulties will likely arise. Mounting debts  can result in much distress, as well as sleepless nights, overwork, bickering between husband and wife, and even family breakups, not to mention possible lawsuits or imprisonment. There is wisdom  in the words found at Roman 13:8:  "Do not owe anything to anyone except to love one anther." 

Next time: IS IT NECESSARY?

From the Watchtower magazine, 2014