Avoid Living The American Debt

While the economy may be seeing some signs of improvement, personal debt is stressing out a lot of Americans - according to a recent poll. In fact, according to the new Associated Press poll, about half of all Americans say they suffer from debt-related stress. With the nation's unemployment at 10 percent, many Americans say it's tough to find work to pay off their credit cards and other bills.

Restaurants and shopping can burn a hole in your pocket. Spending is an expensive business for the average American. Movies, dinner dates, gifts etc. etc. These are costly items. Try creative ways to limit your spending. Watching the stars. Buying a cheap meal to the seaside or bring along a candlestick goes a long way in keeping your budget healthy.

Needless to say, the Bible discourages debt because it presumes upon the future - and on God. If you are concerned about economic uncertainty, the last thing you want to do is to take anything about the future for granted.

Debt has two primary dangers.

First, debt always presumes upon the future. If you go into debt, you are obligated to repay - yet you take on that obligation without knowing for certain whether you will be able to repay or not. You may enter a relationship in debt!

Second, debt may deny Him an opportunity to work. If you are already in debt before starting a relationship, it becomes very difficult to move on.

Action Item:

If the financial forecast calls for difficult times ahead, you should work to get rid of all debt. To do otherwise is to presume on the future - and that of your future spouse.

Today's Bottom Line

Debt - the flip side of compounding - works against you financially.

The Bible does show many ways to overcome any financial crisis. Many of these principles are laid out in our successful course, the Scriptural Financial Freedom series. To learn more, you can download the Small Groups kit from our estore.

Calculate your mortgage, credit card repayment, loan interest as well as your compounding interest and more with our 25 calculators!

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