When considering buying a house, the best situation would be to own a house that is not burdened by a mortgage. However, when this possibility is mentioned, most people think it is impossible. How could a young couple in their twenties afford to buy a house outright? Alone, it’s impossible. But, I don’t believe that God ever intended for us to go through life on our own. I believe God intended for financial blessings to be passed from one generation to the next.

Proverbs 13:22 states that a good man leaves an inheritance to his grandchildren. A man I know found an interesting way to leave an inheritance to his children and grandchildren. He was very successful in business and decided, when his eldest daughter was about to get married, to buy a house for the young couple. Thanks to the abundance with which God blessed him in his personal life, he managed to buy the house outright. He then proposed to his son-in-law and daughter to pay him monthly an amount equivalent to a standard loan repayment, which he would invest in an interest-bearing account. They were to make these payments for twenty years, after which the father would transfer the house title to them.

The money accumulated in an interest-bearing account could then be used to buy a house for the grandchildren, who, twenty years later, would be of marrying age and in need of a house. The same condition would then be made to the grandchildren, who would deposit money into an interest-bearing account to create the possibility of buying a house for the great-grandchildren, after another twenty years. In this way, the father established a perpetual system to bless each generation with a house without ever paying interest or being burdened by a mortgage. In modern society, inheritance is generally passed on to children rather than grandchildren, contrary to what Proverbs 13:22 suggests.

Think about it, though. What is usually the age of children when their parents pass away? Perhaps fifty or sixty. What is the age of grandchildren? Between twenty and thirty. Do most people need a financial inheritance more at fifty or at twenty? Obviously at twenty. If we followed the biblical pattern of passing an inheritance to grandchildren rather than children, each generation could avoid the interest paid by most people in their twenties or thirties when they are starting out in life. God revealed Himself as the God of Abraham, Isaac, and Jacob. It’s a three-generation principle.

In his book, “Doing Business God’s Way,” Dennis Peacocke explains that God wants to instill in each of His children a faithful stewardship of wealth and responsibilities, both physical and spiritual, to preserve the link between generations. He identifies three elements:

  1. Receiving an inheritance,
  2. Preserving and building upon that inheritance, and
  3. Passing that inheritance to future generations.

According to George Guilder: “In America, the vast majority of fortunes are squandered within two generations.” The curse of poverty is revealed by wealth that is limited to a single generation. It’s selfishness versus inheritance, consumption versus savings. We believe it is important to recognize that debts affect not only the natural realm but also the spiritual realm. We believe there is literally a spirit of debt that associates with the spirit of Mammon to create incredible emotional and spiritual pressures in the lives of those it afflicts.

Debts often generate an overwhelming sense of despair, shame, and fear. The feeling many people describe is like drowning or suffocating. Many people are emotionally paralyzed by debts. These emotional pressures often lead to physical illnesses, mental distress, and marital breakdowns in families.

Because of such pressures, many people in their emotional paralysis hide from their creditors and do not act with integrity by simply communicating with them. Consequently, the situation worsens, causing creditors to pursue debtors more aggressively. Often, in a couple, the husband takes on three jobs trying to be a good provider for his family and meet debt obligations.

As a result, the wife is left alone to deal with creditors who call or come to the home to try to collect their dues. This often places pressure on the wife, which does not align with God’s intentions for her. Marital conflicts, anger, and breakdowns between husband and wife grow as this pressure increases. We believe that, in such cases, the husband is shirking his responsibilities as the priest of his household; he is not present to face the debts and personally communicate with each creditor, so the burden does not fall on his wife.

For many people, incurring destructive debt is a hereditary pattern. Where did they get the idea of using credit cards for immediate gratification or desire? Often, they learned it from their parents.

Train up a child in the way he should go; and when he is old, he will not depart from it. The rich rule over the poor, and the borrower is servant to the lender.” PROVERBS 22:6-7 (NKJV)

Many people do not connect verse 7 of Proverbs 22 with the preceding one. I believe understanding this master/servant relationship, linked to debts, is one of the first principles a wise father will teach his sons and daughters. Yet, often the opposite is shown. Children learn to use debts to instantly satisfy their desires instead of waiting for God’s provision and timing. Their parents trained them in the way they should go, and when they are grown, they do not depart from it.

Now, is it fundamentally wrong to take on credit? Is it something you should never resort to? No, …

This text is an excerpt from the book “Wealth, Riches, Money” written by Craig Hill, Earl Pitts.

We invite you to read the next article FACING DEBTS 2.

Comments (0)


Leave a Reply

Your email address will not be published. Required fields are marked *

EUREuro