You can't borrow your way to prosperity

The Bible, which I cherish, states, "Give to everyone what you owe them: taxes to whom taxes are due, customs to whom customs are due, respect to whom respect is due, honor to whom honor is due. Let no debt remain outstanding, except the continuing debt to love one another." Romans 13:7-8.

I'll begin from the part that states "owe no man anything". How many of us are indebted to a person, a bank, or a creditor? We have accepted this mindset and lifestyle as normal.

Debt is a challenging companion. It robs us of our hard work and our future aspirations. It disrupts our peace during the most valuable nighttime hours. It's a factor in those intense arguments that result in an uneaten dinner.

For men, it leads to intense feelings of failure and anger. For women, it results in a pervasive fear that undermines their sense of safety and security. This is why financial problems, particularly those related to debt and its associated challenges, are the leading cause of divorce worldwide.

Remember the verse, "Owe no man anything." Keep this thought in mind when you're at the mall and a store proposes their credit card to you, or when you're thinking about upgrading to a new car that is unnecessary and beyond your financial reach. Although debt can be a tool to buy time and take advantage of investment opportunities, even when it seems appealing, keep in mind that you're trading it for possible stress and the lost opportunity to save for the future. Be wise and deliberate about the types of debt you incur.

By borrowing, you become beholden to the lender, who can claim your hard-earned money that should have been invested in your future. Instead, it disappears each month. Choose the road less traveled.

Do this in place of going into debt:

• Save up in cash for the things you want.

• If you can't afford it, don't allow yourself to be pressured into getting it.

• Move at the speed of cash. You don't have to buy it now!

• Quit trying to keep up with the Joneses! They are broke.

• Be content. Consume less in the present and save more for the future.

Recognize that incurring debt for investments that can appreciate, such as real estate or acquiring a business, is often essential, but it requires wise management.