“The borrower is servant to the lender.” Proverbs 22:7 NLT
ALBERT EINSTEIN believed the Rule of 72 (the compounding of interest) was a more important discovery than his theory of relativity. Here’s the rule: Divide 72 by the interest rate of your savings to discover the number of years in which your savings will double. For instance, one thousand dollars saved at 6 percent annual interest becomes two thousand dollars in twelve years. But credit card issuers also know the Rule of 72. For example, if you make a one-thousand-dollar purchase on your credit card at 18 percent interest and don’t pay it off, that balance becomes two thousand dollars in just four years. Instead of earning you money, your one thousand dollars is earning huge profits for the credit card company. The Bible says, “Just as the rich rule the poor, so the borrower is servant to the lender.” Have you any idea how many marriages are in trouble, or how many people are on medication because they’re drowning in debt? God doesn’t want you to live that way. When God made the world, He established this rule: “While the earth remains, seedtime and harvest…shall not cease” (Genesis 8:22 NKJV). If you want a harvest when you need it, you must sow—even when you don’t feel like it. When you sow a single tomato seed you’ll get back many more in return—it’s only a matter of time. So reduce your debt and be a good steward of the funds God has entrusted to you. Then you can stand on this promise: “My God shall supply all your need according to his riches in glory by Christ Jesus” (Philippians 4:19).