What is “good debt” vs. “bad debt?”

In this short video (3:30), Ron shares the criteria for determining whether a debt decision is wise or unwise. He reminds us of several basic, biblical economic principles that can help as we make those decisions.

As always, Ron’s encouragement to you is to go back to God’s Word to restore your faith. Take a moment to consider the following Scriptures, and meditate on their Truth and their application.

Proverbs 22:7 (NIV)
“The rich rule over the poor, and the borrower is servant to the lender.”

Proverbs 11:15 (NASB)
“He who is guarantor for a stranger will surely suffer for it, but he who hates being a guarantor is secure.”

Ecclesiastes 5:5 (NASB)
“It is better that you should not vow than that you should vow and not pay.”

Luke 14:28 (NASB)
"For which one of you, when he wants to build a tower, does not first sit down and calculate the cost to see if he has enough to complete it?”