Posts tagged " debt "

Is it time to go into debt?

January 14th, 2020 Posted by Ask the Rabbi 10 comments

My wife and I are out of debt except for our mortgage which we are trying to quickly payoff. My business has some opportunity to expand but I am unsure if getting a business loan goes against Biblical or ancient Jewish wisdom.

Thank you for your time.

Bob F.

Dear Bob,

We’re certain that you and your wife have practiced admirable discipline and restraint over the years to have achieved the enviable position of being debt-free other than your mortgage. Congratulations!

Now, on the threshold of expanding your business, you are naturally concerned about perhaps having to take out a business development loan.  This can feel like a step backward into debt especially after all your hard work ridding yourself of loans. 

Let’s try and understand God’s intentions with respect to money.  The very first time that God registers displeasure in the Bible is, “It is not good for man to be alone.”  (Genesis 2:18)  Because of His desire for us to connect with one another, God established two ways for strangers to become closely involved with one another and to care for one another’s welfare.  The first of these is marriage by means of which a man and woman who may not even have known one another a year or two ago now care deeply for each other and their families are interconnected as well.  

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Our daughter won’t listen to Dave Ramsey

August 27th, 2015 Posted by Ask the Rabbi 2 comments

Question:

We are Jewish. I’ve heard you endorse Dave Ramsey and vice versa. His methods have helped me greatly. However, my 34 year old daughter is at a financial crossroads and desperately needs help. When I suggested that she take a FPU course or at least listen to him or read his book, she says, “Oh, he’s that Christian guy. No, I’m not doing that.” How can I get her to open up to his message?

I listen and the Christian references don’t bother me. How can I get her to open up and help herself? She is a struggling actress in CA, in the middle of a divorce.

Thanks in advance for your answer.

∼ CKP

Answer:

Dear CKP,

Firstly, please accept our compliments and admiration for being open to Dave Ramsey’s tough but true teachings on finance.  He has helped thousands of people and we are glad you’re among them.  We are sorry about the pain you feel at your daughter’s self-destructive ways and your apparent inability to help her see the road map.  However, we do think we can help you. Without knowing your daughter, we can only make a few guesses as to what her problem with Dave Ramsey really is. Here are our top three choices:

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