credit, with interest on repayments, is a good idea?
2007-02-16 07:15:55 · 10 answers · asked by Good Egg 6 in Society & Culture ➔ Religion & Spirituality
The reason I asked this in R&S is if heard that a Muslim does not use a mortgage (death debt) cause it is against the rules to pay interest, and just wondered what peoples thoughts on the matter were
2007-02-16 07:29:48 · update #1
God has a lot to say in the Bible about our finances. I would suggest looking for some books that have compiled biblical principles of finances, such as at this Website: http://www.presenttruth.org/alcc/bookstore/wealth_riches_money.htm
BEWARE: You will have to discern if these principles truly do fall in with God's plan by testing what you read against the Scriptures in the Bible. Make sure it all lines up with God's Word. Just because someone claims to be a Christian and writes a book doesn't mean it is true.
2007-02-16 07:32:08 · answer #1 · answered by Christian93 5 · 0⤊ 0⤋
For the lendor or lendee?
Lendor... It's a GREAT idea, the higher the interest as far as they are concerned the better...
Lendee... Absolutely not, unless you need the cash immediately... For example, if you can pay cash for it, it is a good idea. Unfortunately, for a huge purchase like land or a home, you have to borrow money in order to have a home. Not many people can plop down $300,000...
Buying dinner for $15... That's better to use cash...
2007-02-16 15:23:15 · answer #2 · answered by James B 5 · 0⤊ 0⤋
If you buy a house, yes because you would lose more money paying rent. It is also sometimes possible to borrow money to invest and make more than the interest and that would be a yes also.
Most of the rest of the time, no.
2007-02-16 15:24:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
For centuries, Christians condemned the sin of usury and the charging of interest on loans. Capitalism taught them a different tune.
2007-02-16 15:46:49 · answer #4 · answered by skepsis 7 · 0⤊ 0⤋
Debit Card = Bad credit (anagram)
2007-02-16 15:19:26 · answer #5 · answered by Anonymous · 1⤊ 0⤋
If you can avoid it, avoid it. But I have a mortgage on my house. Otherwise I would be pouring money into an apartment that wouldn't be mine, and I would be the loser.
2007-02-16 15:21:54 · answer #6 · answered by Mr Ed 7 · 0⤊ 0⤋
No I've tried it-it's the reason my hair turned grey.
2007-02-16 15:18:14 · answer #7 · answered by Anonymous · 1⤊ 0⤋
been there done it ... got the grey hair
now if i cant pay , i dont buy
2007-02-16 15:18:56 · answer #8 · answered by Peace 7 · 1⤊ 0⤋
yes
2007-02-16 15:18:50 · answer #9 · answered by Kdog 3 · 0⤊ 1⤋
it's a good idea for the lender.
2007-02-16 15:18:50 · answer #10 · answered by Anonymous · 1⤊ 0⤋