“The rich ruleth over the poor, and the borrower is servant to the lender.”ÂProverbs 22:7
My that is a very topical quote for a Personal Finance Blog isn’t it?
The bible says that the Rich rule over the poor, that is your thought for Labor Day, since the rich do as they please and the poor work for their lives (OK, trite and over simplification, but still pretty true). I’m sure the bible is not speaking solely on a Financial angle, but this is something to keep in mind.
The borrower is the servant to the lender is very correct. If you are in debt to someone or an institution, they call the shots, and you have no control of the situation (or very little). The only way to get back control if you are a debtor is by paying off the debt, and then you are free.
Tired of me bludgeoning you with Bible quotes on debt? How about this one then?
Neither a borrower nor a lender be;
For loan oft loses both itself and friend…
In life, in the bible and in literature, debt is a bad thing. I am pretty sure the Qur’an also does not view usury in a favorable fashion either.