When God designed His system for the Israelites, once every seven years a beautiful forgiveness of debts took place. Slaves were set free and generosity was encouraged because it was a shemitah year.
The word shemitah is Hebrew for release and describes a year of financial shaking, where wealth transfers hands. There were three important features of a shemitah year.
The Cancellation of Debts
“Every seven years you must announce, ‘The Lord says loans do not need to be paid back.’ Then if you have loaned money to another Israelite, you can no longer ask for payment.” Deuteronomy 15:1-2
The Freedom of Slaves
“If any of you buy Israelites as slaves, you must set them free after six years…. I am commanding you to obey the Lord as a reminder that you were slaves in Egypt before he set you free.” Deuteronomy 15:12, 15
The Encouragement of Generosity
“There may be poor Israelites in the town where you live. If there are, then don’t be mean and selfish with your money. Instead, be kind and lend them what they need. Be careful! Don’t say to yourself, ‘Soon it will be the seventh year, and then I won’t be able to get my money back.’ It would be horrible for you to think that way and to be so selfish that you refuse to help the poor.” Deuteronomy 15:7-8
“And don’t just tell them (the slaves) they are free to leave- give them sheep and goats and a good supply of grain and wine. The more the Lord has given you, the more you should give them.” Deuteronomy 15:13
But what does this have to do with us?
Shemitah years still exist, but they are involuntary. Modern economists have noticed this seven year economic cycle even today. The last 5 serious economic declines all occurred in shemitah years, 2008 being the last. Involuntary shemitah is forgiveness of debts but slaves are not freed and generosity is not encouraged. People default on payments while individuals and governments go bankrupt.
Proverbs 13:22 says “A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous.” But who is the righteous and how can we become one? Psalm 37:21 gives us a great definition. “The wicked borrow and do not repay, but the righteous give generously.”
So… “A person who borrows and does not repay, his wealth will be stored up for this who give generously.”
This places many of us on the wrong side of the equation. It is time to get your own financial house in order. We are in a shemitah year, a year of shaking. With all the economic uncertainty it is important to be the righteous, one who gives generously. Yet, it is difficult to give when we are bound by debt.
Don’t wait. This is the moment, the day to begin your journey to financial freedom. Craig Hill’s Five Wealth Secrets 96% of Us Don’t Know is a great resource. If you haven’t attended our Financial Fitness Seminar register now by emailing info@morethanenough.ca.
More than Enough is a team of financial fitness coaches and trained mortgage agents working together to help you live free of debt, find joy in giving and experience a life of abundance. If you are looking for a Christian mortgage agent or financial advice, please visit our “Contact Us” page.