One of the principles on finances that my parents drilled into me throughout my childhood was "Never, ever co-sign a loan with anyone."
Hubby and I have followed that advice to our benefit.
In my teen years their admonitions of "Don't co-sign on loans" also included examples of the tribulations of friends and relatives who struggled financially when the individual they "helped out" couldn't make their monthly payments.
Those examples stayed with me.
But only when I was an adult did I realize that their financial principle passed down to me was from the Bible.
Eventually two verses related to my parents' financial admonitions caught my attention.
Proverbs 11:15 NIV Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe. Proverbs 11:15 NIV
As I started reading the Bible through each year, I found more of my parents' pithy sayings that came from the Bible.
Another verse of wisdom that has guided our decisions:
Romans 13:8 ESV Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. Romans 13:8 ESV
And our parents' stance on co-signing did not mean they ignored the financial or health challenges that friends and relatives faced.They found other ways of helping rather than totally assuming someone else's debt.
I am thankful for the firm foundation that our parents gave us.
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