Debt: Volunteering for Slavery

One proverb states,

The rich rule over the poor, and the borrower is servant to the lender.

When one person borrows from another, more than a financial transaction has occurred--a relationship has been created. And according to the proverb, this relationship does not benefit the borrower.

When a person takes on a debt, the borrower makes an agreement with the lender. "I'll take the money (or merchandise) now, and I'll pay you later." This agreement connects the two parties, essentially forming a relationship.

Beneath the immediate gratification of having what they want NOW, the borrower has really given up quite a bit.

Essentially what the borrower has done is agreed to work and have his/her income go to the lender. In other words, when a person borrows, they are forfeiting their future income. The lender doesn't have to work, because the borrower is working for him. (Sounds like slavery to me!)

It gets worse...Not only does the borrower pay the amount borrowed, or what the item was worth, but they also have to work to pay off the interest.

Doesn't sound like a good deal to me!

So, every time you swipe your those credit cards, keep in mind--you are just volunteering for slavery.

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