Debt and the Church

Will New Day save until we have the money we need for the things we need and want to buy? Or will we use debt as a means to get the things we need and want for the ministry? That's the decision I'm facing right now. Below are some of my thoughts after reading the chapter on debt from Money Possessions and Eternity by Randy Alcorn. I'm 100% undecided at this moment (although I'm leaning towards not going into debt).

1. I teach my kids that "money comes from work." I don't teach that "money comes from borrowing." Would going into debt set a bad example for my kids? Is debt our means of short-circuiting the God-created means of acquisition - including work, saving, planning, self-discipline, patience, and waiting for divine provision.

2. I teach my church that "debt is not a sin, but it is usually unwise." Would going into debt set a bad example for my church?

3. As a Christian I believe that where God guides, God provides. If the provision isn't there, is God really guiding? Is not having enough resources to pay cash for what I want God's way of telling me it isn't his will for me to buy it?

4. Debt often results in financial pressures strong enough to break up marriages. Would borrowing create financial pressure of any kind in my life? Stress experts say that the bigger a person's mortgage (or any debt), the bigger the stress. Debt is a serious enemy of mental health.

5. I believe the government should limit spending to available revenues. Is it right to hold New Day Church to a different standard?

6. Proverbs 22:7 says "...the borrower is servant to the lender." And 1 Corinthians 7:23 says "...do not become slaves of men." Do I want to be servant to the bank or servant to the Lord? Do I want to be my creditors slave or Christ's slave?

7. Romans 13:8 says "Owe nothing to anyone except to love one another..." (NASB) Does this verse prohibit debt? The NIV reads "Let no debt remain outstanding..." which allows debt but only under conditions that it be paid off. However, if going into debt is always sin it's difficult to understand why Scripture gives guidelines about lending and even encourages it under certain circumstances. If debt is always sin, then lending is aiding and abetting sin, and God would never encourage it.

8. Because of the interest you pay when you go in debt, if New Day went into debt we would have to pay a certain amount of money in addition to what the items cost. For example, if I wanted to buy $15,000 of equipment valued at $15,000 - but had to pay 15% interest on the loan, then I would be paying an additional $2,250 for the equipment. Am I a good steward when I pay several thousand dollars more than something is worth just so that I can have it before I can afford it?

9. Being a borrower is listed among the curses that would come upon the children of Israel if they disobeyed God (Deuteronomy 28:44-45).

10. Nehemiah 5:3-5 describes being in debt as NOT a good thing. In a time of famine, the ultimate act of despair was to mortgage fields, vineyards and homes. Should such things take place under normal circumstances? According to the Bible, is debt reserved for desperate situations or everyday use?

11. The Old Testament shows a strong connection between debtors and slaves. Both debts and slavery were canceled in the year of Jubilee. More often than not, the person was a slave because he was a debtor (Deuteronomy 15:2,12). Unable to pay back debts, he was sold into slavery.

12. In the Year of Jubilee debts were cancelled. If debts were a good thing, why would God establish a time where people could become debt free? I don't know that this means debt is always wrong, but I do think it at the least puts debt in a negative light (in my opinion).

13. Is the money I will be obligated to repay, and the bondage it will create, worth the value I'll receive by getting the money or possessions now?

14. Is debt a vicious cycle? Once I pay off the debt, what new needs and wants will I have? Having used debt to get what I need and want for the church, will I be tempted to use debt again as a means to get what I want? Would this violate the principle from Nehemiah that debt is for dire circumstances?

15. Do we believe God knows best what our needs are? Debt spends money we don't have. So isn't our decision to go into debt proof that we believe we need more than God has given us?

16. If we don't have the resources to buy something, and if we feel such need for it that we're borrowing to get it, are we saying God has failed to meet our needs? Is going into debt saying "God has failed to provide for our needs, so I'll just take matters into my own hands"?

17. Is debt presuming upon the future finances of the church? It's one thing to trust God to provide for our present needs (Matthew 6:33). It's another to presume upon him by dictating (via a decision to incur debt) the terms of his future provision. Is going into debt an act of faith or presumption?

18. Is debt our way of getting around depending on God?

19. James 4:14 warns that we cannot know what will happen tomorrow. And if we don't know and cannot control all that the future holds, how can we be sure that we can pay off new debts? We can be certain that God will provide for our basic material needs if we seek first his kingdom (Matthew 6:25-34), but where does the Bible promise that God will provide for all the debts we incur through our own impatience or presumption?

20. Scripture mentions three major building programs. Each was financed directly by up-front giving. There were no tabernacle bonds, no borrowing, no pledges - just straightforward giving. People gave more than enough and had to be restrained from giving to the tabernacle (Exodus 36:6-7). In each of these three building projects (the tabernacle, the temple, the rebuilding of the temple) the work didn't begin until it was obvious that the project could be completed without borrowing.

21. In Luke 14:28-30 it wouldn't be a stretch to say that Jesus taught that a project should only be undertaken with the certainty of having sufficient funds for completion (i.e. Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it?).

22. In the Old Testament building projects, future ministry was paid for with present money. But churches that borrow pay for present ministry with future money. Which philosophy is God in favor of?

23. Would NOT borrowing create a greater dependence on God and allow God to show his faithfulness to our church?

24. If we sang hymns at New Day (we usually don't) would we be able to sing this one if we went into debt: "All I have needed Thy hand hath provided - Great is Thy faithfulness, Lord, unto me!"

25. Does debt tempt us and allow us to pursue what God hasn't provided and doesn't intend for us?

I don't have answers to all these questions, but I'll be thinking about and praying for insight as to the best path for New Day to take. Debt or no debt? Any thoughts? Please pass them along!