Dear Reader,

The offers abound, and many of us are probably bombarded with offers for credit cards and plastic money. Those who already have accounts often find that their credit limits are increased, and the capability for an individual to be drowned in red ink is very real. What does God have to say about debt, and our responsibility to pay our bills?

For many people, the temptation to buy now and pay later lures them into financial situations that they cannot keep up with. The offers proposed may contain clauses that denote low interest rates for a short period of time, then the rate increases dramatically for the balance of the account. As an example, a person with a credit balance of $10,000 with an annual percentage rate of 18%, and making only minimum payments, will be paying on the account for 33 years! For many people, the amount owed is more than $10,000, and the interest rate is higher, so the problem only increases. When I run into financial problems like the one mentioned above, the Bible warns me that I should be a good steward of what I have, and that I should owe no man anything, which implies that I must pay my due bills.

Perhaps you will say, “But I’m already in debt so far I’ll never get out!” Unfortunately, some are in that position, so something needs to be done to help them right away. In every case, measures must be taken to bring the financial program back under control. There are various organizations who offer help to persons who have overspent their income by helping to set up budgets, track spending, and by working with credit card companies in order to develop a working budget.

Again, for many , it is not possible to pay in cash for large items such as a car, or home, or college education, so assuming a debt load is the only way to handle items of this nature. The careful person will shop around for the best rates and best payment plans for their particular situation. That person will also realize that one item needs to be cared for before another debt load is assumed, if at all possible. In all, the Christian has the privilege of asking God for His help in making financial decisions, and in caring for those areas that have gotten out of hand.

Christian Financial Concepts: www.cfcministry.org

Thanks for reading,
Pastor Ritchey