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Saying No to Debt

Read Deuteronomy 28:12. What does this teach us about getting into too much debt? What principle do we see at work here?

It’s just common sense to avoid debt as much as you can. Scripture discourages us from cosigning other people’s debts as well (Prov. 17:18, 22:26). Debt leverages the future and obligates us to submit to its demands from our position of financial weakness. It is a smooth elixir that Christians find difficult to decline and manage. Debt may not be immoral, but it does not strengthen our spiritual life.

“There must be a strict regard to economy or a heavy debt will be incurred. Keep within bounds. Shun the incurring of debt as you would shun leprosy.” - Ellen G. White, Counsels on Stewardship, p. 272.

Debt can become financial bondage that makes us a “servant to the lender” (Prov. 22:7). Because debt is so intertwined with the fabric of our economic world, we think of it as just the norm. After all, whole nations exist on debt; why shouldn’t individuals do the same thing? This is a wrong attitude to have.

“Make a solemn covenant with God that by His blessing you will pay your debts and then owe no man anything if you live on porridge and bread. It is so easy in preparing your table to throw out of your pocket twenty-five cents for extras. Take care of the pennies, and the dollars will take care of themselves. It is the mites here and the mites there that are spent for this, that, and the other, that soon run up into dollars. Deny self at least while you are walled in with debts. . . . Do not falter, be discouraged, or turn back. Deny your taste, deny the indulgence of appetite, save your pence and pay your debts. Work them off as fast as possible. When you can stand forth a free man again, owing no man anything, you will have achieved a great victory.” - Ellen G. White, Counsels on Stewardship, p. 257.

Debt is a weak foundation for Christians to stand on. It can do damage to our spiritual experience and impact our ability to fund God’s work. It robs us of our ability to give to others with confidence and steals opportunities for God’s blessings.

What are some choices you can make right now that could help you avoid any unnecessary debt? What might you need to deny yourself of in order to stay out of debt?