This topic is adapted from the PursueGOD Video YouTube channel. This is part 3 of the Budgeting Workshop series.
The “debt monster” is wreaking havoc on families today. The average American is in a lot of debt. This may be due to a difficulty in delaying gratification, trying to look good in front of others, misidentifying “wants” as “needs,” and, more and more, student loans. It’s time to fight back.
Debt Can Lead to Severe Consequences
One consequence of debt is that it puts us into bondage.
Proverbs 22:7 Just as the rich rule the poor, so the borrower is servant to the lender.
We think that our purchases will make us happy, but when we can’t pay for them they actually lead us into bondage. This bondage can destroy families. In the Old Testament (OT), children could be sold into slavery when parents had a debt and were unable to pay. Today, our families are destroyed in different ways. The number one reason for divorce is fighting over finances. Debt causes stress and pressure in a marriage that can lead to destruction.
Another consequence of debt is that it can hurt God’s reputation. As Christians, we are to represent Christ to others. If we are not able to pay our bills, it can hurt Christ’s reputation.
Debt Needs to be Attacked
We can’t be passive when it comes to getting rid of debt. We need to be intentional about solving this problem even though it may hurt. We need to start by admitting that we have a problem. Confess the mess to God and talk to him about the debt monster. Then we need to trust God to free us and to forgive us.
1 John 1:9 But if we confess our sins to him, he is faithful and just to forgive us our sins and cleanse us from all wickedness.
If you are in debt because of uncontrollable, idolatrous spending habits, go to God, admit that you have a problem, and ask for his forgiveness and for his cleansing in your life to get out of debt. Start making a plan today.
Discussion Questions:
- Watch the video together or invite someone to summarize the topic.
- What is your initial reaction to this video? Do you disagree with any of it? What jumped out at you?
- What is your initial response when you look at your debt?
- This video listed some possible reasons that people get into debt. Can you relate to any of them? Are there other causes for your debt? List some that apply to you.
- Read Proverbs 22:7 In what ways is a borrower a slave to a lender?
- Have you ever longed for a certain possession or experience and then been disappointed once you got it? Did you go into debt to obtain it?
- What are some specific ways that your debt could hurt Christ’s reputation?
- In what ways has the stress of being in debt impacted your marriage?
- Why do you think it would be important to confess your debt to God?
- What changes do you need to make to start to deal with your debt?
- Write a personal action step based on this conversation.
