MoneyWise Live | March 13, 2019

On Jesus and Debt with Jerry Bowyer

Show Notes

The Bible has more than 2,000 verses about money and many of them are concerned with debt. The Old Testament in particular has a lot to say on the subject. But what does Jesus have to say... about debt?  We take a look at debt across the whole of the Bible. Rob West sits down with our favorite economist— yes we have a favorite economist— and he’s Jerry Bowyer. 

Rob discusses debt in the Bible with Jerry on these points:

  • You trace the origin of debt back to The Fall. How is that?
  • And from Gen. 3:13, Old Testament scripture is filled with instructions about debt— especially about charging interest. Can you tell us about that?
  • So why is it okay to charge interest today?
  • There are lots of detailed instructions about forgiving debt at specified times. What are some examples?
  • Can you tell us about how the Old Testament gave detailed instructions on the remission of debt but the Prophet Isaiah also spoke of a coming Jubilee?
  • Let’s turn to Jesus now and what He says about debt and this is more from a spiritual point of view, perhaps?
  • Of course Jesus says the most memorable words about debt in all of the Bible.
  • What is the one message we should take away from Jesus’s words about debt?

Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • If you view using "qualified charitable contributions" from an IRA as "gaming" the system are you correct or does it fit as biblical conduct?
  • If you're a single parent whose husband passed away last year and you have money to put aside for your son's college, should you follow advice to get a single deferred annuity?
  • Why shouldn't you draw Social Security at 62?
  • If your deceased mother's mortgage lender has offered the estate the option of paying her mortgage off or defaulting, what should you do?
  • If you're retired and have been told by your financial manager that you should convert your 403(b) to an IRA, should you do it?
  • If you and your husband want to prioritize saving up for your 2 boy's college, pay off your husband's student loan, should you consider refinancing your recent mortgage to include these things?

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