There is a lot of talk about good debt versus bad debt.
Generally, the folks who say there is good debt are the ones who think any debt tied to an appreciating asset is a good debt because your net worth is increasing.
They also say that any debt tied to a depreciating asset, like a car, is a bad debt.
Then you have the “anti-debt at all costs folks” who say that no debt is a good debt because you are in bondage and slavery to your debt.
I’m not going to add to the good debt, bad debt debate.
What I’m going to suggest is there is one kind of debt that is the best debt to have and one that you should never pay off. It should always remain outstanding.
I know you’re thinking I must be smokin’ something, but let me explain:
The Best Debt According to the Bible
Let’s look at what Scripture has to say about this debt that you should never seek rid yourself from:
Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law. Romans 13:8 (NIV).
Ok, I know you anti-debt folks are going to jump up and down because it says, “let NO debt remain outstanding”, but I don’t want you to focus on that.
The Apostle Paul says in this passage that we should leave the debt to love one another.
Have you ever thought of loving your neighbor as a debt? It doesn’t sound too appealing at first does it. In fact, it’s almost a turn off, but think about it:
How many of you are paying off your debt with gazelle like intensity (to quote Dave Ramsey) so that you can be free?
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Now, what if you used that same intensity to love your neighbor, love your coworkers, love your friends, love your family and those in need?
Could you imagine the impact you’d have on this world if you selflessly served others rather than pursued everything for your own sake? Could you imagine the difference you’d make in your own life – how much happier you’d be !
Love is a Continuing Debt
The Apostle Paul makes a great point about love, that it is to continue. You should never pay off this debt. In fact, you should seek to get yourself in more and more of it every chance you have.
For many of us (myself included) we think that if we’ve done something nice for someone or served our spouse we can check it off our list, move on and feel pretty good about ourselves.
But that’s not how we should view it. We should view love as an opportunity to demonstrate Christ’s love without seeking our own selfish desires or doing it from our own selfish motives.
Easier said than done – believe me, I know.
But the point is we should continue serving, continue loving, continue seeking out opportunities to be a help to other people!
The Debt That Defines You
Does your money define you? Does your debt define you? Some of us are so consumed with being debt-free that we are defined by our quest for freedom.
But, the continuing debt of love is one that should define us. Here’s the reason Jesus gives:
By this all people will know that you are my disciples, if you have love for one another. John 13:35 (ESV) emphasis added.
Jesus tells us that people will know we are Christians by our love. So Christian, let me ask you – how are you doing with getting deeper in debt and demonstrating your discipleship through love?
What Are Your Thoughts?
Readers, what are some practical ways that you’ve shown love for others with the use of your money?
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{ 24 comments… read them below or add one }
Great article Jason… we can all use this type of reminder. As far as use of money, I would say the giving we do that is above our normal monthly offering.
.-= Matt Jabs´s last blog ..DFA Link Rally: Living in America Still Ain’t Half Bad Folks =-.
Unfortunately, I do not have enough debt in that area. I am almost debt free in all areas. I guess adding additional love debt is ok with me! I really enjoyed your article.
On a side note, I officially joined the Yakezie Challenge and look forward to helping the whole group meet their goals!
Very interesting article Jason. We certainly are here to love one another. It is funny how hard of a task that can be at times.
.-= TheDebtHawk.com´s last blog ..Opening a Simplified Employee Pension Plan (SEP) To Lower My Taxes =-.
I thought this was where you were going! This is one debt I’ll carry and can actually take on some more of!
Thanks for the awesome insight!
Kita
.-= Lakita (PFJourney)´s last blog ..Will You Take Advantage of the Homebuyer’s Tax Credit? =-.
Nice article. I really liked this:
“Now, what if you used that same intensity to love your neighbor, love your coworkers, love your friends, love your family and those in need?” Very good point, kinda like “live everyday as if it were your last”. Can you imagine how much different the world would be if this were the case?!? 10,080 degree change!
We’re all worried about monetary debt, and this is the one we should be worried about first and foremost!
A Sunday school teacher I had a few years back admitted to the realization that the Bible is counterintuitive–what ever we think is right in the normal course, is countered by the Bible.
This is another example.
.-= Kevin@OutOfYourRut´s last blog ..7 Reasons Everyone Needs to Have a Blog =-.
Great article Jason! With that title, one just HAS to read it. Yes, this is one debt that I could use more of. Thanks for the insightful reminder.
.-= Joe Plemon´s last blog ..Four Ways to Cope With Rising Gasoline Prices =-.
Thanks Matt, yes we all need this reminder more often than we care to admit I’m sure. I know that’s the case for me anyways.
Thanks Bible Debt – congrats on joining the challenge! The more the merrier. Let’s make a commitment to load up on this debt!
Debt Hawk – thanks…it is funny how it’s hard to rack up this debt, all other debt is pretty easy to get into, but this one requires some major work on our parts!
Thanks Kita!
MFO – It would be amazing if we all started loving others more in our own sphere of influence – it starts with one person at a time so let’s go for it!
Kevin – yeah we pretty much don’t worry too much about this debt unfortunately, but we’re so consumed with the other debt. It is counterintuitive, which is why it’s so hard to live out – it takes work!
Thanks Joe! I was hoping to catch a few readers with that title!
Jason, I clicked through prepared to argue there is no good debt. You fooled me and I’m glad to be reminded of this good debt.
.-= Bucksome Boomer´s last blog ..Kroger Gift Card Winner! =-.
Straight from the anti-debt HQ…. I’ll take more of this debt any day!
.-= LeanLifeCoach´s last blog ..Financial Intervention With Aging Parents =-.
Great article, fooled me on the title as well
.-= Derek Clark´s last blog ..Never Loan Money To Friends and Family =-.
Jason, great post. I recently heard in my men’s Bible study that God wants us to be always growing in our love for Him and for others.
.-= Jason @ One Money Design´s last blog ..Budget Busters Series: Save Money on Food, Housing & Transportation =-.
Bucksome – glad I caught your eye with this! Thanks for checkin’ in!
Thanks Derek, Thanks Coach – let’s do our best to get deeper and deeper into this kind of debt!
Thanks J – That’s a good goal to aim for – more love for God and others!
A nice lesson, and very well stated. Certainly, we should always remember our obligations to the less fortunate around us. (Also, nice use of a title to draw me in; I just had to read and see what you were talking about.)
.-= Roger, the Amateur Financier´s last blog ..Lessons from NCECA and My Family =-.
Thanks Roger! I’m glad the title brought you in too!
I was wondering where you were going with this when I clicked this. How true. I agree with owing a debt of love and the loving your neighbor principle!
Haha, thanks Mark – I got you to click the title right?
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