As I often do, I was surfing through some fellow blogger posts. I came across a question posed on Debt Free Adventure
Should one pay off their 20 year remaining student loan, fixed rate below 3%, or use the money to aggressively pay a higher interest mortgage? There is no correct answer, just more questions. That’s about the cheapest fixed rate money one will even see, and with inflation likely to return in the next few years, I’d bet that one could do better than 3% on average over the next 20 years. One could buy a mix of stocks or corporate bonds with a higher dividend than 3% and take any increase in price as a profit.
The turn that caught me by surprise was one comment suggesting that the borrower should have never taken on a mortgage while the student loan was still outstanding. That God’s word says we should avoid debt and therefore not have both those debts at the same time. Specifically, the comment said “Christians have an obligation to repay debts, and to be debt free.” I am curious about the mix of religion and money. The more I blog and read others, the more I run into this. Not that I’m uncomfortable with God or religion, I’ve just never viewed God and finance as being related at all let alone as closely related as others are suggesting. I recently read a book review in which the reviewer discussed the book in a positive light, but commented that he felt the author should has injected some discussion of God or faith in the review. No, I don’t think the reviewer was at all crazy, I’m just trying to keep an open mind. When I see Star Wars (The original, 1977 release) I see good and evil, the Force and the Dark Side. A discussion of God might naturally follow. When I am talking about debt, money, mortgages, etc, I just don’t see where the injection of religion adds to the dialog.
It happens that both the book reviewer and the debt discussion were referencing Christian views of money. Are Christians more debt adverse than other religions? Is is all Christians or just certain denominations? Do blog authors lose their non-Christian readers by tailoring their discussions to that approach to money? Am I a bad person for really liking the 2% cash back credit card I use? Just my thought for the day.