The Storm of Debt
Debt; n: “An ingenious substitute for the chain and whip of the slave driver.” – Ambrose Bierce, The Devil’s Dictionary, 1911
Americans love their stuff; with this, there is no argument. Since the 1950s, the nation has had a long love affair with what economists call conspicuous consumption. The website Investopedia describes this concept as “the purchase of goods or services for the specific purpose of displaying one's wealth.” It goes on to say that “conspicuous consumption is a means to show one's social status, especially when publicly displayed goods and services are too expensive for other members of a person's class. This type of consumption is typically associated with the wealthy but can also apply to any economic class.” This attitude has somewhat naturally led to a “buy now, pay later” mentality that has landed many Americans in financial peril. In this, Christians must take great caution. As with all life situations, it is important to understand the Lord’s words on the subject and put these words into application.
In this debt trap, the United States government sets a poor example. Currently, the United States has a debt of $33,750,000,000,000, with no plan or desire to pay off what is owed. Individual citizens may somewhat unconsciously rationalize that if the government can run an outlandish debt, so can its people. On a more personal level, Americans face constant bombardment with offers of credit. Advertisements promoting “90 days same as cash” or “sign up for our credit card and save 20%” often lure the financially challenged into situations that will bring economic disaster when the terms of the contract are not met. Persuasive advertisers also appeal to a sense of greed by convincing the consumer that he or she cannot live without the item at hand. This can lead individuals into feelings of pride by trying to live a life beyond one’s economic means simply to impress others. In all of these situations, the temptation to fall into debt is pervasive in every corner of society.
How does one stay in financial control in the midst of such temptations? The answer to this question is the foundational decision to glorify God in all decisions that are made. One might begin by asking, “Is the product for which I am going into debt going to be used for God’s glory?” An example of this is the purchase of a home. This is typically the most expensive purchase most Americans will make and may pay for this purchase over the course of 15-30 years. Will such a purchase be used to extend hospitality to strangers and fellow Christians? Will this house be the location of Bible studies, Christian group meetings, and other opportunities for God’s people to assemble and encourage one another? With reasoning such as this, it becomes easier for the faithful follower of God to avoid needless spending and to invest in only those things that will enhance one’s work for the Lord.
Another consideration with any debt situation is planning ahead to make sure the debt can be paid back. Debt is a commitment that must be fulfilled. Concerning this, Paul wrote to the Romans and stated, “Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed” (Romans 13:7). When one goes into debt and is so financially overcommitted that there is no hope of repayment, a sin has been committed. A creditor, who in good faith loaned the money, has been cheated by the dishonesty of the debtor. David puts this in stark terms by stating, “The wicked borrows but does not pay back, but the righteous is generous and gives” (Psalm 37:21). Before going into debt, it is good to consider the words of Jesus Christ. Though speaking on a different subject, the thought behind the words recorded in Luke 14:28-32 provide good instruction on this matter: “For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’ Or what king, going out to encounter another king in war, will not sit down first and deliberate whether he is able with ten thousand to meet him who comes against him with twenty thousand? And if not, while the other is yet a great way off, he sends a delegation and asks for terms of peace.” If there is any reason outside of unexpected life changes that a debt may not be paid back, the debt should not and must not be incurred. This means learning one’s limitations and practicing self-control in order to live within one’s financial restraints.
If one finds the storm of debt already raging, it is time to take action. This begins by seeking the Lord’s help through prayer. This may include seeking repentance for a financial lifestyle that has not practiced self-control or godliness in making decisions. This also means making life right with others. If a debt has not been paid back, the debtor must seek to find a way of making good on the promise made. Finally, one should make a plan and stick with it. This means not only paying off debt but also changing lifestyle habits to prevent the problem from growing larger.
Through the death of His Son, God has paid a debt that could not be paid by any human. Because of this, He does not want His people to spend their time and resources to find comfort in this life. He has assured them that this is only a temporary arrangement. For the faithful, treasures are laid up in Heaven. Faithful living in this life demonstrates an attitude of one who desires to find eternal treasure with the Lord.
