Clapham Community

“Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.”

- Romans 13:8 (ESV)

It would appear that debt is in vogue. Our culture is saturated with messages that encourage families and individuals to owe lots of money. To make matters worse, our federal government has bought into the debt as fashion mentality by mortgaging our future to fund its spending binges. There seems to be no negative social consequences for living way above your means. If the President says its okay for the country it must be okay for my family, right?

Wrong! Consider the following consumer debt statistics:*

• According to a recent USA Today article about debt, 78% of Baby Boomers have mortgage debt, 59% have credit card debt, and 56% have car payments.
• If you use credit cards instead of cash you will spend 12-18% more.
• The average family today carries $8,000 in credit card debt according to the American Bankers’ Association.
• 78% of the time, after someone consolidates his credit card debt, the debt grows back.

The facts don’t lie. Our nation is swimming in a wave of debt that will inevitably come ashore as a tsunami. So what can be done? Is it possible to defy convention and live within your means? A certain radio host named Dave Ramsey says yes. Watch what he suggests is our best solution:

So are you following the popular trend and pulling out the plastic? As authentic Christians it behooves us to model restraint and good stewardship in how we handle our finances. I hope that you are heeding the words of the Apostle Paul from Romans and setting a good financial example.


* statistics courtesy of Dave Ramsey’s website.

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