Debt

Proverbs 22:7 says “the borrower is slave to the lender”. Slavery is not God’s heart for his people. Credit card and consumer debt can create a cycle of perpetual dependency on credit.  We think of this as a lifestyle of debt. Credit cards are often used by people to live beyond their means. A quick tip: don’t put expenses on a credit card unless you have funds available to pay that off immediately. Heaps of consumer debt often reveals a lack of contentment. Take the time to figure out “what is enough” by building your budget in Step #2. Knowing what you truly need can help you exercise self-control when it comes to wanting more.

Some types of debt can be useful as leverage to achieve an important goal, such as a college education or a low-rate mortgage. In this step, we aren’t suggesting that you pay off your house or student debt before being able to save for the future. There are cases where a shared focus on paying down debt and moving forward financially can be possible.

Break the cycle of debt in your life by committing to a payment schedule that honors the obligation you have to your lender and gets you out of the payment cycle as soon as you can. That goes for consumer debt, credit cards, mortgages, etc. Commit to staying out of additional debt so you can remain free to give, save, and spend as God leads.