Finances: Stay out of Debt
There is much about the economic context in which our families live and work that we cannot control, but there are others which we can and should take in hand.
Doing so can bring our family into financial health and bring unity in an area where many marriages struggle to find agreement on basic practices.
Here are a few lessons we've learned, principles we've taught our children and suggestions which you may find valuable.... in PowerPoint or PDF

Art Birch on Debt: (in PDF)

What if I could wave a wand and all would have same amount of money?

Soon the rich would have it again and those in debt would be in debt again.


The Bible doesn't say "don't lend" - but only "don't be the borrower"


The Good: borrowing can enable large projects - purchase of a home, the building of schools and roads


The Bad: borrowing can encourage bad financial management, e.g.:

We may come to believe the lie that "I can afford it if I can only make the payments..."

Borrowing makes us have to work harder than otherwise because we have to pay interest on top of repayments. (If we save money however, we gain the interest saved and do not have payments which limit our options.)

Debt changes relationships - some relationships become strained, even ruined.

The Ugly: sometimes you simply can't pay. By any means..

You loose your house, car - whatever you borrowed for...

You can't save for retirement.

Debt can destroy your reputation, your marriage, almost everything.

The Way Out:

1. Surrender all you have to God

2. Love God, use money

3. Learn contentment

4. Work a plan. Budget and stay with it. Boundaries provide safety. Keep a page for each budget line. Or an envelop with cash in it for each budget line.

5. Give generously. Faithfully, joyfully, to the Lord's work. Start small. Go to a tithe.

6. Avoid paying interest - say "no" to cash advances.

7. Refuse to spend money you don't have

8. Replace loan payments with payments to your savings account

9. Methodically pay off debt.

10. Ask for help - advice of wise friends and of God in prayer.

11. Start now.