Are you so wealthy you want to pay off another person’s debt? If so, send me an e-mail and we can arrange something. Keep that idea in mind as you read this post.
Proverbs is full of a lot of wisdom that can applied to everyday life. It can also lead to a debt free life and freedom, if you only pay attention and do some simple things. In Proverbs 6 in reads:
Proverbs 6:1-5 My son, if you become surety for your friend, If you have shaken hands in pledge for a stranger, You are snared by the words of your mouth, You are taken by the words of your mouth. So do this, my son, and deliver yourself; For you have come into the hand of your friend: Go and humble yourself; plead with your friend. Give no sleep to your eyes, Nor slumber to your eyelids. Deliver yourself like a gazelle from the hand of the hunter, and like a bird from the hand of the fowler.
Not only should you run for your lives when are in debt. You should also act like a gazelle when you have “become surety for your friend”. (Check out the video in this post for a quick laugh).
Why you should not be as sure as the deodorant
Are you familiar with the deodorant commercial for Sure. If not, take a look:
Ah, the good ole days of simply sing along commercials. But I digress. Back to the subject at hand.
Surety, as defined at thefreedictionary.com, is 4 things as follows:
The only thing you can be sure about
Don’t do it!
Give it to them!
Chime in
Let us know what you think on this subject. Have you co-signed a loan for someone? Did it work out or did you end up paying the loan off? I would love to hear what you have to say.
Good advice
Comment by Jim — April 14, 2010 @ 7:38 pm
I agree that surety is not a good thing. I remember my Dad cosigning my first car loan. That loan helped me to not want to be in debt. I paid 18% interest on the loan and I paid it off as fast as I could. Thanks for your post.
.-= Mr. Not Made of Money´s last blog ..How to Save Money When Buying Plane Tickets =-.
Comment by Mr. Not Made of Money — April 14, 2010 @ 7:49 pm
@Jim – Thanks for visiting!
@Mr Not Made of Money – Sounds like you were gazelle intense to get out from under that crazy interest rate!
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