Managing Debt

A few years ago I wrote a blog titled, “The American Dream Is a Trap,” which raised a few eyebrows, I’m sure. Nonetheless, I stand by my convictions (said blog is now a part of my book titled, Diary Of a Journeyman – Volume I,” which is free for download on the North Christian Church website). The gist of the blog was to challenge mainstream American thinking regarding home ownership (and debt in general). While politicians entice citizens of our beloved country with dream-fulfilling promises, I challenge if said dreams are even viable or just a ploy to garner votes in upcoming elections. The simple truth is that not everyone has been ordained by God to own a home. To be honest, unless a person has no lien against their home, do they really own it, or does the bank (I speak in practical terms)?

If a person unwittingly buys the lie that every citizen of America “deserves” to own their own home, they are much more likely to follow in the footsteps of their neighbors, who previously devoured the same lie and now find themselves “house poor” (a term used to describe someone who works hard to pay their mortgage but has very little money left over to enjoy other things in life). In pursuit of this lie, people have gone so far as to abandon traditional, biblical family values, when both parents work full-time while someone else raises their kids (what are these parents teaching their children about values???). No matter how beat up the parents are at the end of the month, though, the mortgage payments arrive like clockwork, as faithful as ever to their singular purpose. To a person who has overextended themselves, this drudgery becomes a form of slavery.

Debt may just be one of the most common forms of slavery today. It is a cruel taskmaster with unerring precision. The Bible warns us against finding ourselves in debt for this very reason and provides us with a better perspective.

Render to all what is due them: tax to whom tax is due; custom to whom custom; fear to whom fear; honor to whom honor. Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law.

— Romans 13:7-8


What’s the one debt that God encourages? “Owe nothing to anyone except to love one another” (v8a). I’m not making unnecessary blanket statements here regarding a “zero-debt” existence, for in its rightful place, debt is a useful financial vehicle. However, most people that I know do not have the financial acumen to capitalize on said advantages, so they are better off avoiding debt altogether. It’s best for most people to simply abide in the wisdom we see in the Bible. Stay away from debt that enslaves you. Focus on what God says you owe others, namely, to love them!

It’s wise to live within your immediate means. If this requires that you drive a jalopy for a car, then so be it. If it means you avoid all impractical spending, then so be it. Too many Americans have debt that has got them in a real jam. The pressure becomes so great that depression often sets in and a real sense of giving up results. All because they bought a lie about a life they thought they were born entitled to. God never says that we are entitled to any form of prosperity in this life, other than in the spiritual sense for us believers. In fact, His Word teaches us to keep our wits about us, to be smart about managing our households, and never become a slave again to the world system.

If we incur a short-term debt (e.g., we owe a plumber for some work he completed recently), then we ought to make it a priority to pay it. After all, in this example, he earned his wages, right?

Now to the one who works, his wage is not credited as a favor, but as what is due.

— Romans 4:4


The Bible teaches us that a person who works is worthy of their wages. Well, if we are the one paying said wages, then it is a good thing to pay what is due. This is fair to the worker and smart for us, the client. It’s also a show of integrity that brings glory to God.

Debt is oppressive by nature (except for those financial wizards that are so astute that they manage to make money in the minutest margins of our financial system – it’s their profession). Few things are more debilitating than oppression. Have you ever really felt it? It’s asphyxiating when it becomes seemingly too large to escape. Over time, it makes life increasingly less enjoyable.

Anything that robs us of the blessing of freedom should be earmarked for extinction. Debt is a killer. It’s kill or be killed for us. As I’ve taught my two sons growing up, “Stay in front of the wave!” What I mean by this is that it is a good thing to spend your early years ensuring that any looming debt (e.g., school loans, car liens, etc.) is paid off as soon as possible. Better yet, whenever possible, avoid such debt altogether by considering “less prestigious” routes that end in the same place, land the same job, etc.

A wise person once said that television programs are nothing more than the space between commercials, implying that television programs exist as a decoy for product marketing. Think about that for a moment and I’m sure you’ll agree. So, I say, “Turn your TV off before you begin buying the lies!” The truth is that you really don’t need to go into debt just to get the latest HDTV, diamond earrings, automobile, etc. You might say, “But I need it!” The reality is that you just want it. Are you going to die without it? Nope. But, since you eventually have to pay for it, you’ve not only purchased fleeting joy, but its ugly cousin, long-term suffering.

Shiny new things guarantee one thing; you have to pay for them, one way or another. As my high school freshman political science teacher once stated, “There’s no such thing as a free lunch.” If your only option is to exercise a line of credit in order to purchase something, your best option is to avoid the temptation and move on. No one needs so-called “nice things.” In fact, nice things are often wolves in sheep’s clothing, posing as blessings, but are nothing more than evil devices designed to keep you distracted by debt. That’s right, the kingdom of darkness has an investment strategy, too; only in its case, the return on investment is your misery.

And [Jesus] said to His disciples, “For this reason I say to you, do not worry about your life, as to what you will eat; nor for your body, as to what you will put on. For life is more than food, and the body more than clothing.

“Consider the ravens, for they neither sow nor reap; they have no storeroom nor barn, and yet God feeds them; how much more valuable you are than the birds! And which of you by worrying can add a single hour to his life’s span? If then you cannot do even a very little thing, why do you worry about other matters?

“Consider the lilies, how they grow: they neither toil nor spin; but I tell you, not even Solomon in all his glory clothed himself like one of these. But if God so clothes the grass in the field, which is alive today and tomorrow is thrown into the furnace, how much more will He clothe you? You men of little faith! And do not seek what you will eat and what you will drink, and do not keep worrying. For all these things the nations of the world eagerly seek; but your Father knows that you need these things.

“But seek His kingdom, and these things will be added to you.”

— Luke 12:22-31


Owe nothing to anyone in this world but to love them.

Love in Christ,

Ed Collins