GUIDE TO BORROWING OR LOANING IN TODAY’S ECONOMY

 

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If you find yourselves in situations where you have the responsibility to care for family members and business and there is necessity to borrow. As stewards of God's resources, these are biblically-based steps to follow to help you determine if borrowing money is right for you.

• Why do I want to borrow? Family, business, ministry, academics or what?

 

• Who and what is motivating me to do?

 

• Can this need or want wait for now? If not, what is the repercussion?
• Does it make economic sense or to save life?
• Do my spouse and I have unity about taking on this debt?
• Do I have the spiritual peace of mind or freedom to enter into this debt? In other words, am I living in consistency with biblical principles?
• What personal goals and values am I meeting with this debt that can be met in no other way? (R. Blue & M. Blue, 2016).
• How and when will I pay back?

 

• What will I do differently to stop borrowing?

 

• What is my relationship with lender?

 

• Do you understand the contract you will sign and can you bear the interest?

 

• You have heard people advise that you should not start business on borrowing. Good! But that is not a one way answer! It depends on many other factors which will be treated soon.

 

• Always think and explore alternative to borrowing if you can.

 

• The Bible does not forbid borrowing or legal financial transactions that involve interest. Sometimes, you need to take advantage of times and opportunities in business.

 

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It is unwise to make borrowing for family or business reasons a lifestyle. It leads to cycle of bondage and possibly bankruptcy (even though this is not popular in Nigeria). Don’t mortgage your future and prosperous plan of God for your life. Also, if there are capital intensive businesses or enterprises to do and God is leading you to borrow, don't be afraid to do so, just put your brain to work on realistic ways to pay back immediately based on the economic reality of the country. To be candid, your network affects your net-worth. If when you need money, God and people are not coming to help you, then you need to watch your character, the reason for the borrowing and your economic power to repay.

 

©Abiodun Fadare. 28th August 2020.

Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

  

 

Kindly put your likes, comments, questions and testimonies.

 

Note: These are financial advice; do contact your financial advisor for your own decision.

 

DEBTOMETER TO HELP YOUR FINANCIAL FREEDOM AGAINST DEBT OR BORROWING DECISION

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Debt is a Latin word “Debitum” which means to owe something to someone. Financial debt is owing someone or some people or organization some amount of money as agreed on conditions between the parties involved whether formally or informally, within a scheduled period of time with required interest on the time value of money borrowed. It is a liability not an asset. It is an obligation which must be settled.

 

13 Reasons Why People Are In Debt:

1. To meet basic needs like food, clothing, housing and health challenges.
2. To meet household needs like payment for household equipment
3. To do ceremonies like birthdays, child naming, burials, wedding, friend’s party etc.
4. To finance family project like housing project or business projects.
5. To pay for business expenses or operational expenses like salaries
6. To travel abroad for different reasons.
7. To pay tithes, offerings, donations, vows and gifts in churches and other places.
8. To leverage on other people’s money (OPM)
9. To borrow as a duty or obligation or free offer. e.g. cooperative loans, staff loan, bank loans marketed to be given freely without stress and later to be deducted from salary
10. To invest like buy real estate or stock and other investment strings.
11. To live it as an inheritance for some people. I reject this for you in Jesus name.
12. To use it as a revenge instrument on spouses, colleagues, company, church members and so on.
13. To compete with friends, colleagues, neighbors and family members.

 

BIBLICAL THINGS TO KNOW ABOUT DEBT

 

Debt is a form of slavery. Debt compromises income stream. The sooner you can get out of it and pay your debt, the better. "The rich rules over the poor, and the borrower is the slave of the lender." Proverbs 22:7. When you have your own debt you cannot serve one another. Every cent you owe to a lender, plus interest, handicaps both your ability to survive now and your ability to save for the future. "She came and told the man of God, and he said, 'Go, sell the oil and pay your debts, and you and your sons can live on the rest.’"2 Kings 4:7.

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Debt prevents rest. The Sabbath is a very important concept to God. He instituted it for himself when he created the world. And he institutes it for humans who work. Debt removes our ability to rest. When we are in debt, we are forced to work extra hours, take a second job or side hustle and spend more emotional energy on getting out of debt. This makes it harder for Christians to rest at all. Without debt, rest comes a little easier. Sabbath becomes much easier to practice with a clear mind and heart. “At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed." Deuteronomy 15:1-2. "When you vow a vow to God, do not delay paying it, for he has no pleasure in fools. Pay what you vow." Ecclesiastes 5:4.

 

 

Which of these reasons is not acceptable to you and which one is acceptable? Check and adjust. Think about it. Is it God’s will for you to borrow? Is it needful? How and when will you pay back? Are your assets more than your debts? The decision you want to make now for how long will you bear the consequences? Weigh your options and makes sure you are faithful to repay the loans. Trust God for your needs and understand times and seasons of life.

 

May you not live ungodly inheritance for children in Jesus’ name. The power of debt is broken in your life. There shall be divine provision to meet your needs in Jesus name.

 

 

 

©Abiodun Fadare.17th August, 2020. 

 Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

 

 

 

 Kindly put your likes, comments, questions and testimonies as you are blessed.

GOD’S FACE - WHAT YOU NEED IS NOT BLESSING! (2)

 

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What You Need Is Not Blessing! It is God’s face. When you see God face to face you will live and be changed. So, dare to behold Jesus for change. The grace of God to us is so elastic that it accommodates all of our failures and problems. But you must stop struggling or adding to Jesus. Jesus is enough. Whatever change or transition you desire, start with yourself by asking Him to help you. Do you see that Jacob did not invite God to come and wrestle with him? It was God who chose to do it. So Jacob was left alone, and a man wrestled with him till daybreak. Gen 32:24 (NIV). That’s grace intervention in the affairs of a man. Some of the areas you may need changes that trigger blessings may be:

 

1. Spiritual Change. This is right and correct knowledge of God and Jesus not about God. This should come with right believing. Don't be surprised that there are things in the Bible that you believed are true and correct in your own way but they are not because of wrong interpretation and inability to personally study the scriptures yourself. Has Jesus had a personal and progressive encounter with you? Since you have accepted Jesus as your Lord and Saviour, are you growing in the knowledge of Jesus? Your heart desires and appetites should agree with God’s. 

 

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2. Mental Change: It easier for a child to learn new thing than an experienced or a mature person. And the more you correctly learn, read, study the right thing with appropriate understanding and actions and unlearn the wrong things, the better chance of experiencing increase in blessing. How many of things and secrets you know have you put into practice and continue in it? Be flexible to learn. Stop assuming things. Assumption is the lowest level of intelligence. Put your brain to work. Learn new language of money. 

 3 Attitudinal Change: This affects our temperamental disposition, cultural and social values beliefs, character, upbringing and many more. Who you are determines where you are. Each of us is the reason for our prosperity or poverty.  Money, marriage, job, ministry or social relationships, success in life has to do with our attitude. If you're satisfied with where you're, it will only take you alone except divine intervention to change your position. Some have defensive attitude, some is nonchalant attitude, some offensive, some I don't care attitude, some it must be me alone at all cost, some have "what will be will be" attitude, some over confidence, some fearful attitude and many more. Which one do you need to work on? 

 

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4. Technological Change: Most aspects of our lives are being affected by technology. Things are now been done digitally. You cannot be operating typewriter now when there are mobile phones that can do its job. Child bearing today is being helped with technology. Businesses can change digitally. Use technology to your good advantage to be blessed. Businesses can change digitally.

Positive change is the mother that gives birth to blessings. The way Jacob gets his own is by divine encounter with God and his glory. How will you get your own? Possibly you need to settle on a fervent prayer altar, practice listening to the Holy Spirit yourself, read books, study the Bible, go for mentoring, forgive someone, go for vacation or excursion, take that risks or control your tongue and start speaking word of grace and believe right. Just don't wait until you're dislocated like Jacob.

If you don't change, things will change but only God remains the same.

Shalom!

 

 

@Abiodun Fadare. 16th August 2020.

Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

 

 

Kindly put your comments or questions or testimonies as you read through.

 

 

 

 

WHAT YOU NEED IS NOT BLESSING!

 

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There is a popularly musician today in Nigeria who wouldn't have been known and blessed as he is today if there was not a change in his life. Even though, the change was caused by a motor accident in which no one prays for such but it has turned to a real blessing to him and his family.

Most times, what you need first is not "blessings" it is "Changing or Changes". Real change that transforms and improve you. The scriptures say “Then the man said, "Let me go, for it is daybreak." But Jacob replied, "I will not let you go unless you bless me." The man asked him, "What is your name?" "Jacob," he answered. Then the man said, "Your name will no longer be Jacob, but Israel, because you have struggled with God and with humans and have overcome." Jacob said, "Please tell me your name." But he replied, "Why do you ask my name?" Then he blessed him there. Genesis 32:26-29.

From those scriptures, you see that the first thing that took place in the life of crooked Jacob was  dislocation of his hip when he wrestled with God and won and now he needed help of God to deliver him from his fears despite his wealth. The rich and wealthy also have their fears friend.  The second is not a blessing but a change of name through an encounter with the Living God. Jacob's name means deceiver, a cheat, a yahoo plus guy, a manipulator who thinks you must manipulate people to do and stay in businesses, ministry or investment but God changed his name to Israel, which means a prince with God (someone who rule with God), the one who fought God and man and win. God wants to bless you but he needs to change your heart or view or taste for some things.

A change of lifestyle, work ethics and integrity, faith in God, attitude or behavior or character and a change of name that reflect or matches the original intention or destiny which God has for him. The true change is discovery or you align all your life to how God wants it to be - his way not your way. That authentic discovery can take place by seeing Jesus. Everyone who hungered for Jesus was changed. 

 

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After the change of name from Jacob to Israel, was when God blessed him. Blessing is God's favour on a man to help him or a provision for your inadequacies or insufficiency by God which the end result brings joy, peace, happiness and wellbeing to the receiver. The aim of it is to worship God better and be a blessing but not a trouble, burden or curse to people around you. It manifests in different form according to individual experiences and belief. The scripture talks about a blessing that makes rich and does not add sorrow. The blessing of the LORD brings wealth, without painful toil for it. Proverbs 10:22 (NIV). The blessing seals the changes in Jacob’s life, gave him peace and power instead of fear of death from his brother Esau.

Maybe you and I need some changes in some areas of our lives to allow the full manifestation of the blessings we have been praying for. Until there are some changes in our live maybe mentally, emotionally, spiritually, physically, career wise, marital wise and so on, we may not experience the enduring and overflowing blessing we need. May you encounter the correct change you need now for a genuine fulfillment of destiny in Jesus name. What are the areas you may need changes?  See and read through the next article. 

 

©Abiodun Fadare

16th August, 2020.

 

Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

 

 

Kindly put your comments or questions or testimonies as you read through.

 

THE POWER OF UNDERSTANDING IN FAMILY FINANCE.

Since the earth is spherical according to scientists, there will be many sides and vews to family finances but God always has his standard regardless of our views.

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Mrs. Lawson is a trained nurse who has worked with a private hospital in Nigeria but didn't achieve much financially. She decided to resign and start nursing home or health centre of her own. When she told the husband about her decision, the husband felt there was no need for that and there was nothing she wanted that he would not give her.

The woman begged the husband that she should be allowed to start the health centre using one of the three bedroom bungalows they built for rent. The husband gave in with much begging and supported his wife. Some years later, the man's business was not making much profit and ladened with debts.

But thank for God their health centre which has increased with another branch, where in they could sustain themselves and revive the husband's business. Do we say what goes around comes around? Understanding works.

Every year Jesus’ parents went to Jerusalem for the Festival of the Passover.When he was twelve years old, they went up to the festival, according to the custom. Luke 2:41-42 (NIV).From the scriptures above, another thing we can see in Mary and Joseph's lives is:

The Power of Understanding in finance. Despite the financial status of Joseph, Mary followed him to the Temple to worship God. They possibly trekked. When there is unity, understanding should follow.

You need to understand your spouse job or business and sit together to plan like the story of Mr Lawson and his wife. Husbands should ask for their wives opinions of their jobs or businesses to know where or how to assist and likewise wives should do the same.The scriptures say "If either of them falls down, one can help the other up. But pity anyone who falls and has no one to help them up". Eccl 4:10. When you're asked about financial issues in the family be ready to provide honest answer.

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Forbearing with each other your present financial status and making plans of how to go forward will help along way. When there is understanding, no spouse will bring unnecessary expenses or budget that is not needful for your present financial status.These are the days that wife don't know anything about her husband's job or businesses and likewise husband too. Many spouses have business and house projects going on without telling the other parties.I hear you say it is because of the irresponsibility of the husband or wife. You may be right but it all start from the recognising God together and purpose of marriage.

In family finance, understand your spouse strengths and weaknesses. Encourage the strengths and build the weaknesses so that they become strength too. You may not be right all time in your perception of things. When you realise that, humble yourselves, admit your mistakes, forgive each other and move forward.

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There may be offences, work on it quickly to prevent devil in taking advantage of your peace and prosperity. Many families are fighting the battle of ignorance. The day they know the truth of God about each other, they will be set free. Stop living and fighting like strangers to each other under the same roof on money matters. Understanding from will help you.

Devil is not happy that you are happy financially in your marriage or family but God is not happy that you're not doing well either. Devil always work on disunity, party spirit, ignorance of couples to hinder their financial success because he knows if you succeed you will use your finances to expand God's kingdom and God's wills.

Therefore, sit and think on this and change your thoughts and strategies. If the life of anyone will change it begins with the ways you start to think. Allow Jesus to work in and through you! God bless you!

©Abiodun Fadare. 3rd August, 2020.

Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

Kindly put your likes, comments, questions, prayer and testimonies as you're blessed.

THE POWER OF UNITY AND COMMITMENT

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During Covid-19 palaver, a man was relieved of his job because the company felt it couldn't cope with more expenses without making much profit. The man got home, told his wife, who was a full housewife and after some days, the woman thought how will they be surviving since the husband has lost his job? So she packed her bag and left with the childre for her parents' house for survival. She left the husband alone. Hmm! You say is there a friend like Jesus?

From the story, has the husband done well? Has the wife done well the way she acted? What could have been the missing link in that family? One of the things we can see is the level of their unity.

Every year Jesus’ parents went to Jerusalem for the Festival of the Passover.When he was twelve years old, they went up to the festival, according to the custom. Luke 2:41-42 (NIV).

The Bible says, Jesus' parents went to Jerusalem for the feast of Passover and they took Jesus along at age 12. Passover celebration is one of the three major celebrations the Jew celebrate every year. During that time they go to Jerusalem where the Temple is, to worship God. Family can go there but it is not compulsory for a woman to follow the husband because of distance and if they don't have financial means to travel down there. This was the case of Mary and Joseph. They were not financially buoyant but both of them with Jesus went to Jerusalem to worship Yahweh. This shows unity and commitment in their family to worship God and achieve godly purpose together.

So, the first point of family financial breakthrough is that you must have unity in knowing, serving and being devoted to God. This will help you have inspirations of what to do concerning your financial life. Ask yourself, am I truly united with my husband or wife in knowing and serving God? Rather, do you know The Lord that provides together? Are you and your spouse serving the same God? What measure of maturity in faith do two of you have?

You need to find out because when there is any challenge in a family, it is the God you know that will help you and if two of you know the same God and have unity of faith, you will ask God for help and directions to help your finances, and it wil be done.

The power of unity in knowing and serving the same God will help you succeed financially and raise children that will succeed too. God is the force behind any financial breakthrough. Do you know people can get marry and may not be one or united even under the same roof?

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Today, some spouses are afraid of telling each other their jobs', businesses' or investments' secrets. Fear, insecurity and distrust control their days and relationship. One is apprehensive of the other.The Bible says, "How could one man chase a thousand, or two put ten thousand to flight, unless their Rock had sold them, unless the LORD had given them up?". Deuteronomy 32:30.

Unity in family faith, finance, business and investment fortify you against losses and vulnerabilities. If possibly only Joseph or Mary took Jesus to Jerusalem, in our contemporary days, people might say he or she intentionally did that to sacrifice the boy for money or child abuse and carelessness would have being the blame on either party.Friends, do you want to experience peace in your finances, businesses or investment? Check the unity level in your marriage.

There are risks in jobs, businesses and investments, when you're not united you may be be deceived and fall into unnecessary risk. Like the family previously described in the story above, they just need to come together at their time of need to find solution to their challenge. Separating from each other will make them vulnerable to the enemy, which is the devil. The scripture says though one may be overpowered, two can defend themselves. A cord of three strands is not quickly broken. Eccl 4:12.

Unity in family finances makes God to cover you. If you start little business or investment, it wil grow up fast with peace and rest of mind in such a manner that it will draw you near to God rather than taking you away from God.

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The power of unity and commitment in a family is very important for every family that wants to experience God's prosperity in their finances and other areas of life, even the supposedly Christian family.Once there is no unity in the spirit, soul and body and commitment between couples in whatever they do or want to do, it will affect their finances and slow down their progress. Two are better than one, because they have a good return for their labor. Eccl 4:9.

Togetherness of Mary and Joseph in their devotion to their God shows in other areas of their lives. I admonish you to sit, think and work on the unity and commitment with God and your spouse your in family finance. It is time to stop thinking and labouring alone. You're not created by God to work that way.

Submit your family finance to Jesus Christ today to help you wherever there are issues. He is the Master of over any storm or disgrace.I pray a positive and prosperous new dawn start in your family finance today. Your peace in relationship is restored in Jesus name.

Shalom!

©Abiodun Fadare.30th July,2020.

Adewale Abiodun Fadare is a Pastor, Bible Teacher, Finance Expert and Writer. He lives happily with his wife and children in Lagos, Nigera. 

Kindly put your likes, comments, questions and testimonies as you're blessed.