Recent studies have shown more and more Americans are paying off their credit card debt. However, conflicting reports are showing Americans averaging several thousands of dollars in debt; many of these people spending more in a year than they actually make. My husband and I stayed on the rollercoaster of credit card debt for more than ten years until we took the plunge and paid them off. I recall several times we charged our groceries and years ago, even charging our rent. God has not intended for us to live beyond our means. He has promised, as with the birds of the air that He would provide for us. I suppose the temptation to have the latest and greatest is all around us. I don’t even what to know how much we actually paid charging even one grocery trip. I’m scared to know what our vehicles or home will eventually have cost us!
Here is some Scriptural food for thought:
- Psalms 37:21, “The wicked borrows and does not repay, but the righteous shows mercy and gives.”
- Proverbs 22:7, “The rich rules over the poor, and the borrower is servant to the lender.”
- Proverbs 22:26-27, “Do not be one of those who shakes hands in a pledge, one of those who is surety for debts; if you should have nothing with which to pay, why should he take away your bed from under you?”
- Romans 13:8, “Owe no one anything except to love one another…”
I found it tempting to make a charge knowing our monthly payment would only go up a dollar or two. Though personally, I don’t believe debt to be a sin in and of itself, I do see the potential for debt to become the root of sinful behavior. For example:
- A spouse becoming dishonest about their spending habits while racking up family debt.
- An available credit balance or line of credit can become a temptation for a compulsive spender to buy.
- One may find themselves spending more money than they have selfishly on frivolous things, or a fancier car or home they can’t afford, leaving the credit card as the last means for their family to purchase food.
- When a person’s lack of self-control in spending puts them in a position to where they don’t have the means to pay the promised payments, therefore reaping creditor’s consequences.
I understand there are emergencies that may arise in people’s lives that are not planned leaving families unable to pay their debts. It’s our goal in our home to put away money now so should something come up, that money is there and we don’t have to borrow.
There are a couple financial radio hosts that I really enjoy listening to. One is Clark Howard and the other is Dave Ramsey. They are full of helpful suggestions for getting back on track financially, spending tips, and avoiding scams.
Families.com also has a library of helpful blogs in their Money, Deals and Frugal sections as well as a Deals Forum.
Please visit these related blogs:
Tithing: Does God Really Expect Me To Give Ten Percent?
Hi, I’m Michelle and I’m an Overspender