WHEN something goes wrong regarding personal finance, our mental default setting is that we need someone else to help fix the problem.
But if we stop and think about it, there is really nothing new under the sun, as Ecclesiastes says. Our guidelines for how we should live then as now, come from the Good Book and those the Holy Spirit has chosen and guided to explain and interpret its doctrine in the context of modern life.
These days, we click on Google and make it our personal adviser, our own impersonal Yoda. For anything we need to know, we’re just a click away online for mountains of information from financial experts to inundate us.
It can all be disconcerting and confusing. It’s like tackling the Library of Congress in one go. Don’t despair. There’s hope yet. We can simplify and refer to that old why and how-to manual for all times and seasons.
The sub prime mortgage mess in 2008 was a sorry and foolhardy attempt by liberals in the government power structure to democratize what was never meant to be a level playing field.
This made it possible for millions who could not afford and should not qualify for a mortgage to be approved for loans they could not carry.
A little known phrase in the Book of Proverbs for those who put up “security for debts” serves as stern warning, “… your very bed will be snatched from under you.” If only we took heed of the wisdom of the ages written in the Bible, we could have saved ourselves a lot of grief…
