A Christian's Response to Debt
"Debt is a necessary way of life." "A little debt can be a good thing." "It's impossible to live a debt free life with my income." "Certain financial plans are not realistic for me to follow." "It's easier to stay in debt than to sacrifice my lifestyle to pay it off."
Have you heard these things before? More importantly, have you said these things before? All these are reasons I gave as to why I should stay in debt. And what I have found since starting this blog and talking to more people about their financial situations, most Christians believe these things too. Here's what we need to understand; all those quotes up there...that's society's way of telling us we are okay. Can I let you in on a little secret? Our society is bonkers! Would you feel okay if your plane was crashing, but at least you had your seat belt on? Seat belts can be a "good thing," but when your plane is plummeting towards the ground...well, it's not going to do you much good. Your debt is your plane...you owe money you don't have...you are crashing. But it's okay...you're seat belt is on...bonkers!
So many Americans have convinced themselves that debt is "okay" or a "good thing" because that's what society wants us to believe. Our society also wants us to believe that a man can be a woman and cotton is a bad thing...but sure, let's take debt advice from a society that is currently in over $20 trillion in debt.
So where should we get our advice from? Well, over a year ago, I had a serious awakening about where I was getting my money advice from. Yes, I listen to and read the advice of a lot of professionals. I have used a lot of principles that these professionals suggest and I have seen a lot of success. However, as a Christian, and a lover of God's Word, I found that most of the principles that these "professionals" were teaching...came straight from the Bible.
As a Christian, how should I view debt? Is it a tool? Can it be a "good thing?" Is it okay, as long as it's just a little bit and I have control over it? Let's consider a view Bible verses:
Romans 13:8 - "Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law."
Proverbs 22:7 - "The rich rules over the poor, and the borrower is slave to the lender."
Proverbs 17:18 - "A man lacking in sense pledges and becomes guarantor in the presence of his neighbor."
Proverbs 22:26 - "Do not be among those who give pledges, among those who become guarantors for debts."
The Bible repeatedly tells us to not owe anyone anything. Owe no money. When we owe money, we become slaves to the lender. We become someone who lacks sense. Is this how we want to live our lives? Jesus came to free us from our debts of sin, but now we willingly live in debt of money? Anytime the Bible talks about debt, it's not a "good thing." That's like saying the debt of sin we had before Jesus was a "good thing." Debt = bad. It's not a tool. It's not necessary. We should run from debt. We should get away from it as fast as possible. Jesus freed us from our sinful debts so we can be free...so why are we living in financial debt? Why are we willingly becoming slaves to the lender?
Is it a sin to be in debt? No, I don't think so. Consider the verses below:
Psalm 37:21 - "The wicked borrows money and does not pay back, but the righteous is gracious and gives
Ecclesiastes 5:5 - "It's better that you should not vow than that you should vow and not pay."
It seems that the wickedness came when things were borrowed and not paid back.Which, unfortunately, there are too many people (even Christians) who are simply not paying back student loans, car loans, and even mortgages. However, the principle the Bible teaches us is that by being in debt, we are putting ourselves at a disadvantage. Proverbs 11:15 says, "He who is guarantor for a stranger will surely suffer for it, but he who hates being a guarantor is secure." To sum up what the Bible is teaching: it's not smart to owe money.
Biblical principles often go overlooked when it comes to money. Why? Because society has told us different. And society obviously knows what it's talking about (catch my sarcasm??). When I started looking into God's Word, I noticed that God was teaching us how to be wise stewards of our money. Yes, there is even saving and investment advice. There's wise spending advice. I even think there is budgeting advice. Those are all posts for the future.
For now, I want you to consider your situation. Are you in debt? Over 75% of Americans are. Are you okay with being debt? If you are a Christian, how do you feel about debt after reading what God's Word has to say? Are you ready to make some changes? Need some help? You're not alone. After reading God's advice on debt, I had to change. How could I lead my family if I was a slave to the lender? How could I teach my boys about money if I didn't know what I was doing with my own finances? How could I serve God to the best of my ability if I was living under the bondage of debt? Jesus freed my from my debt of sin...but I was willingly living in my debt of money. It just didn't add up. Change had to happen. I can thankfully say that I am on my way to living a free life. A life with no burdens and no suffering, as the Proverbs put it. I can finally be proud of what I'm doing with money, not because I'm following some "professional's" plan, but because I'm following God's plan.
Do you want to follow God's plan? I will help you get started on your goals!
~ Kevin