In Season 1 Episode 6 of ‘Where Your Treasure Is…’, Simon and Bex consider the topic of ‘Negative Money’, a term used by Simon to prompt us to think about various kinds of debt and borrowing that can be part of our financial experience these days.

A key theme running through the show is the importance of being able to distinguish between “what we need” and “what we want”.

Some key points of interest covered in this episode include the following:

• In response to a question from Bex, Simon explains why he has chosen to call the episode ‘Negative Money’ rather than ‘Debt’. [00:48]
• Bex asks Simon what kinds of financial transaction he would include under the heading of ‘Negative Money’. [01:48]
• As his starting point for opening up a discussion about debt and borrowing, Simon comments on the Shakespearean quotation: “Neither a borrower nor a lender be”. [02:50]
• Simon highlights the following verses from the Bible which mention debt and borrowing: Deuteronomy 15.1-15; Proverbs 22.7 (“The rich rule over the poor, and the borrower is slave to the lender”); Romans 13.8 (“Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.”) [04:55]
• Three key principles arising from biblical teaching on debt are identified: try to avoid getting into debt; if you are in debt, try to get out of it as soon as possible; if you can make a payment to reduce or remove debt, do so. [06:44]
• Bex comments that it is virtually impossible to avoid debt in contemporary society and asks Simon whether all debt is bad. [08:19]
• Simon talks about mortgages as a means of considering issues raised by a couple of key questions: Does God want me to borrow money in certain circumstances? Can there be such a thing as a “good debt”? [09:43]
• Bex asks Simon to apply the “good debt” principles that he has identified to another significant purchase: buying a car. [13:54] As part of his response, he highlights the importance of recognising the difference between “what we need” and “what we want”. [14:59]
• Affordability (in this case, of a debt rather than of an item being purchased) is identified as another key point that needs to be taken into account in this area, along with the associated “risk and reward” considerations. [18:44]
• However, even if careful decision making has taken place, with the aim of managing any possible risks, financial shocks can still happen. In such instances, Christians Against Poverty and Citizens Advice can be invaluable sources of information and advice. [22:09]
• The next episode of ‘Where Your Treasure Is…’ will continue the theme of ‘Negative Money’, including some thoughts on how to get out, and then stay out, of debt. [23:53]