To continue the project select the play button below.
To begin the project as a new participant click here.
Debt has become basic to the fabric of our culture. Our government is in deep debt and many people are in debt. If you have the courage, check out the real time debt situation http://www.usdebtclock.org. Many people have bought the concepts “To drive a nice vehicle I must lease or have an installment loan” and “To live in a nice house I must have a mortgage.” Those beliefs have led many down the path of endless debt.
There are several problems with entering into debt. I will mention two. First, it is presuming upon an unknown future. People enter into debt “today” with the presumption that the future will be the same if not brighter. When future events beyond their control change, they regret they entered into the debt. This gives the enemy much room to put stress, grief, and depression in the heart. As we find in Proverbs 12:25, “Anxiety in the heart causes depression.” This tells us when we worry we will be depressed. Many people worry themselves into deep depression and physical illness over debt.
Second, it puts us under the lordship of another person. Proverbs 22:7 reminds us, “The rich rules over the poor, and the borrower is servant to the lender.” We are to be servants of God not man. In 1 Corinthians 7:23, Paul reminds us “You were bought at a price; do not become slaves of men.” In Romans 13:8 he wrote, “Owe no one anything except to love one another, for he who loves another has fulfilled the law.”
Here are a few other verses on debt: Luke 16:5; 2KI 4:1; Neh 5:3; Deut 28:1-2; 12, 15, 43-45; Psa 37:21a; Prov 3:27.
Being debt free is associated with paying vows. When enter into indebtedness we vow or promise someone or an entity we will wipe out the debt at a point in the future; whether those days are a few or many. When we sign our name to a credit situation, small or large, we are making a vow, a promise, to pay the debt.
In Deuteronomy 15, we read about the principle of the forgiveness of debts after seven years. That would be nice. Could this be our Lord’s perspective? Should all debts be paid-off within a seven-year period? In our day, too many times the plan is “How long can I stretch out this debt to make the payment as small as possible?” The problem here is, we could be saddling others (children, grandchildren, and those who come behind us) to pay off a debt we vowed to pay.
To be financially free, one must desire and strive to be debt free. It will take time, sacrifice, and determination. It could require us to eliminate some outgo so we can do more with our income toward eliminating debt. As one man put it, “My outgo has exceeded my income and my upkeep has caused my downfall.” Being debt free is possible. Strive to be free of debt. That is a huge step toward financial freedom.
“Therefore, brethren, we are debtors—not to the flesh, to live according to the flesh. For if you live according to the flesh you will die; but if by the Spirit you put to death the deeds of the body, you will live. For as many as are led by the Spirit of God, these are sons of God. For you did not receive the spirit of bondage again to fear, but you received the Spirit of adoption by whom we cry out, “Abba, Father.” The Spirit Himself bears witness with our spirit that we are children of God, and if children, then heirs—heirs of God and joint heirs with Christ, if indeed we suffer with Him, that we may also be glorified together.” (Romans 8:12-17)
“Who shall separate us from the love of Christ? Shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword? As it is written: ‘For Your sake we are killed all day long; we are accounted as sheep for the slaughter.’ Yet in all these things we are more than conquerors through Him who loved us. For I am persuaded that neither death nor life, nor angels nor principalities nor powers, nor things present nor things to come, nor height nor depth, nor any other created thing, shall be able to separate us from the love of God which is in Christ Jesus our Lord.” (Romans 8:35-39)
For whatever things were written before were written for our learning, that we through the patience and comfort of the Scriptures might have hope. Now may the God of patience and comfort grant you to be like-minded toward one another, according to Christ Jesus, that you may with one mind and one mouth glorify the God and Father of our Lord Jesus Christ.
Romans 3:3; Various