Don’t Cosign!

Guaranteeing a loan for a stranger is dangerous;it is better to refuse than to suffer later.

Proverbs 11:15

In the late sixties, the hippy movement sang about peace and love. It was seen as a great virtue to give and to share. That was definitely the good side. Unfortunately, there was not necessarily much respect for the virtues of stewardship and responsibility. Because of this, new terms came into the hippie vocabulary: terms like “being burned” or being “ripped off.”

Our proverb today tells you that you do need to be cautious when you lend to someone you don’t know much about. You might find later that the very reason they needed the loan is because they were careless and foolish with money when they did have it.

Okay. I really can’t help saying it, but it seems kind of crazy for our government to be bailing out companies who we already know overspent. We already know they made bad decisions with the massive amount of money that they did have. In Missouri they say, “This is throwing money down a rat hole.” Lending money with no accountability is throwing good money after bad, wouldn’t you say?

Okay. I can’t help saying one more thing about this. Our country was founded on principles, wise principles as found in the Word of God, principles of morality, principles of financial soundness, principles of right and wrong. When we disregard these, someone is going to eventually have to pick up the tab.

Make It Personal . . . Live It Out!

It’s easy to decline cosigning for your cousin’s brother-in-law or the bum down the street, but when it comes to close family it is a lot tougher. I know it seems unsympathetic, but when you cosign for anyone, you enable them to take a risk they might not be ready for and might suffer for later. Moms, when your kids ask you to help them start a business or loan them money, be wise. It’s risky. Even though it’s inconvenient, I have seen wise parents allow grown children to move back home while they save for their dreams. Then when they launch out, they can stand on their own feet.

One Year Bible Reading

Numbers 26:1-51; Luke 2:36-52; Psalm 60:1-12; Proverbs 11:15