Count the Cost

I have been reading a devotional based on the book of Ruth. As I got to the last day and the devotional was focused on Ruth chapter 4, I noticed something interesting. 

As Boaz explains to the Kinsman Redeemer that is next in line to redeem Naomi’s family and possessions, he seemingly provides a cursory explanation of what is available to him. Before that, Boaz took ten of the elders of the town and sat at the gates where important conversations were held. He wanted to ensure there were witnesses of stature present. 

Boaz, upon explaining to the Kinsman Redeemer that he was first in line for the property of Elimelech, the original Kinsman Redeemer agreed. But, Boaz then goes on to explain, in verse five, "On the day you buy the land from Naomi, you also acquire Ruth the Moabite, the dead man’s widow, in order to maintain the name of the dead with his property.” 

Verse six says: “At this, the Kinsman Redeemer said ‘then I cannot redeem it because I might endanger my own estate. You redeem it yourself. I cannot do it.’”

I know we typically look at this passage in a romantic light, but I want to look at it from a financial planning perspective.

It remains curious to me why Boaz did not give all the details upfront. My guess is, he wanted to make a clear point. Upon offering that the next in line Kinsman Redeemer would get the land, he withheld the information that he would also gain a wife, a mother-in-law and possibly additional children (based on the customs at the time).

Once this became clear and the Kinsman Redeemer considered the potential impact to his own legacy and inheritance for his own family, he declined. I think he considered that the land was no longer worth the possible headache it would cost to his family.     

As I read it, it reminded me of two other messages in the Bible: the first one in Luke 14:28-30: “Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? For if he lays the foundation and is not able to finish it, everyone who sees it will laugh at him, saying, ‘this fellow began to build and was not able to finish.’”

The next message shows up in different scriptural evidence in Proverbs.

Proverbs 6:1:2: “My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, you have been trapped by what you said, ensnared by the words of your mouth.”  

Proverbs 11:15 “Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe.” 

Proverbs 17:18 “One who has no sense shakes hands in pledge and puts up security for a neighbor.”

Proverbs 22: 26-27 “Do not be one who shakes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you.'“

They all say essentially the same thing in various ways: do not sign a pledge on behalf of your neighbor, or you could lose what you have

I’ll let you decide who in your life falls into the “neighbor” category.

I do have to add a caveat, the Bible in 1 Timothy 5:8 states, “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” 

I would encourage you to consider wisely who is a relative, and especially of your household, and I would also encourage you to consider this: are you encouraging the person by cosigning or are you enabling bad habits to continue. The Bible gives us so many rich passages of scripture, that we must then process and ask God for guidance on how to implement them in our lives.

As financial planners, we help our clients to sit down and plan not just for themselves, but for their legacies as well. Helping them to count the costs before any major financial decision is made. In my opinion, part of that is taking on the financial responsibility of someone else.

We saw in Ruth four, where the original Kinsman redeemer took the time to consider the implications not just of himself, but for his family. We help and encourage our clients to do the same first before they start planning for major undertakings and even for the potential implication of cosigning a loan, and the potential impact to themselves and their families.

As you can see by the scriptures in Proverbs, this is spoken against strongly.  If you do determine that you would still like to cosign for someone’s loan, then it would be prudent to count the costs, both to yourself and your long-term financial well-being.

If you’re looking for a Christian financial advisor to help you navigate your stewardship journey, our advisors here at Christian Financial Advisors Network are here to help!

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