My post Finances - Introduction is a short overview what it means to live according to our available finances. Today I want to talk a little about debt in general.
Honestly? We have never experienced a great debt, beside the mortgage for our apartment. Yes, we did buy a few things on credit, mainly tempted by the 0% interest deals back then. We also had a credit card which we had used in some cases of emergency and to pay what we had ordered from stores outside of Europe. True, debt has not given us sleepless nights all too often. On the other side, we did have quite a few days in our lives when money was short and we were struggling to pay off what we have owed.
Of course, it's always best to avoid the burden of more or less big loans altogether. But how? We will need to learn to be content with less and/or what we have. How much house (clothing, food, etc.) do we really need? Before buying, and especially before applying for a credit, we should always ask ourselves if it is luxury we are craving for, and, how much of our freedom we are willing to give up for it.
God's Word says: The rich rules over the poor, And the borrower is servant to the lender. (Proverb 22:7)
There is something about living debt-free, when we are no longer slaves to our creditors. No matter how small or large the amount of debt is, it's important to tackle it, to break free from it. Regardless of the reasons for our debts, we should give our best to get rid of them as quickly as possible, even after getting ourselves into debt due to unfortunate circumstances. There is something special about having more than enough so we can share and help the ones who are in need (Eph. 4:28).
How do we tackle debt? Stay tuned, I will write more on that in a future post.