In part 2, we learned that we need to honor God in everything we do which includes 100% of our finances.
The ironic thing about doing that is it will then help us. The bible has a lot to say about money. In fact, a quick search through the NIV translation on BibleGateway.com yielded 113 different verses about money, and 21 verses about debt!
With that many verses, it’s safe to say that the bible considers money an important topic. If we flashback to part 1 for a moment we remember that the bible states:
For where your treasure is, there your heart will be also.”
– Matt. 6:21
Let’s Talk About Debt
Today, we will be talking more about debt as that is the topic of this 3rd part of the Andy Stanley “Balanced” series. Andy Stanley states that there are two main ways to increase your standard of living:
- Save money, invest properly, and work hard.
- or, use debt.
Then Andy offers one of his signature quotes:
One system is fast, one is slow, one brings peace, and the other brings woe.”
– Andy Stanley
Andy does a fantastic job of putting our use of debt into perspective. He does this by reminiscing about an ancient thing called “lay-away.” The biggest point he makes is that once something on lay-away is paid off, it is still brand new!
With our current use of consumer debt, by the time the item is paid off (plus tons of interest) we need to go out and buy a new one! What a vicious and costly cycle that is. He follows it up with another great quote:
The shiny wore off, but I’m still paying for it!”
– Andy Stanley
Debt’s Role In Your Life
What is debt’s role in your life? Is it as necessary as water, or do you barely ever use it? Do you ever want to help someone financially, but can’t because of the debt burden on your shoulders?
7 The rich rule over the poor,
and the borrower is slave to the lender.”
– Proverbs 22:7
As Andy Stanley puts it: if you have debt, and you are faced with the choice of helping someone or paying off debt, your master will always win. Who is your master? If debt is your master, then what do you plan to do?
I’ll Eliminate Debt!
This is a bold but necessary goal to accomplish. The sad truth though, is many people attempt to accomplish this but fail miserably. What can you do to achieve this goal? Andy Stanley suggests having friend and family hold you accountable.
It might be embarrassing to let them know how deeply in debt you are, but don’t let pride send you into bankruptcy. Having outside people hold you accountable is a proven method to help you. Many organizations use this method to great success and you should try it too.
With that said, I will leave you with two additional biblical verses relating to debt:
28 Like a city whose walls are broken through
is a person who lacks self-control.
– Proverbs 25:28
12 The LORD will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none.
– Deuteronomy 28:12