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January 3, 2025 3:00 am
Money and relationships are a tricky combination. When a family member or close friend asks to borrow money, it can put you in a difficult spot. On the one hand, you want to help someone you care about, but on the other, lending money can easily lead to strained relationships or hurt feelings.
Proverbs 22:7 reads, “The borrower becomes slave to the lender.†Lending money can hurt a relationship. And that can happen whether you lend the money or not. You’re “between a rock and a hard place,†and it seems like either way, someone may end up resentful.
There are really only three things that can happen, and only one of them is good:Â
It’s only the third possibility that makes everyone happy:Â
Fortunately, God’s Word gives us guidance here.Â
What Does The Bible Say?ÂFirst, God’s Word tells us to help those in need…lending money if necessary.Â
Deuteronomy 15:8 says, “You shall open your hand to him and lend him sufficient for his need, whatever it may be.â€
Turning to the New Testament, in the Sermon on the Mount, Matthew 5:42, Jesus says, “Give to the one who asks you, and do not turn away from the one who wants to borrow from you.â€
Finally, 1 Timothy 5:8 might make you think the only proper response is to lend money to a family member. It reads, “But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.â€
Should You Always Lend Money When Asked?Not at all. The above Scriptures imply a couple of things:Â
Here, Scripture has more to say:
Proverbs 13:11 warns about one possible outcome of lending money. It reads, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.†Getting a loan is often the “easy way out.â€
Maybe the borrower tells you the loan would be a “lifelineâ€â€”which it may be. But it’s also “easy money,†and the borrower may not appreciate the effort it takes to create that wealth. When you have to work hard for something…you tend to want to hold onto it.
Hard work produces character and wisdom.Â
Proverbs 21:20 reads, “Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.â€
How Can I Discern A Real Need?So before you get out the checkbook, think carefully about whether there’s a real need.Â
You also have to be sure that lending the money will actually help the borrower. Here are some questions to ask yourself:
Finally, if you decide to lend the money, you should draft a written agreement specifying the amount, interest rate, payment structure, and collateral. This will help eliminate misunderstandings later.
FaithFi’s New Publication: Faithful StewardÂWe’ve covered this topic in our brand-new quarterly publication, Faithful Steward. Featuring insightful articles and contributions from leading voices in Christian finance, Faithful Steward will help you view money not as an end in itself but as a tool to glorify God and serve others.
You can receive this inspiring publication every quarter by becoming a FaithFi partner at $35 or more monthly or $400 a year or more. Visit FaithFi.com/Give to get started today.
On Today’s Program, Rob Answers Listener Questions:Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.