While debt is not essentially evil, unmanageable debt is, and it makes the borrower a slave to the lender (Proverbs 22:7). Our nation is drowning in unmanageable debt and so are many Americans. The major cause is not merely spending too much or not making enough, all asseverations that it is notwithstanding. Rather the genesis of both national and personal financial meltdowns is spiritual. It is easy to see that it is not merely a problem of numbers, since everyone can add and subtract, and even when spending is cut or income increases, most often this is followed by other financial meltdowns because the core of the problem is spiritual and that has not been addressed.
Consequently, until the spiritual derivation of financial bondage is recognized and acted upon, debt will be America’s taskmaster. The following lays out the spiritual basis of the problem and each requires repentance to start the process of true financial recovery and stability. God loves to forgive sin when true repentance is present. “Therefore repent and return, so that your sins may be wiped away, in order that times of refreshing may come from the presence of the Lord.” (Acts 3:19)
Your sin may be one of the following, which the Lord will make clear if you will listen.
Are there temptations to overextend, and what may be prompting the temptation?
Greed – wanting more than God has provided you. “But immorality or any impurity or greed must not even be named among you, as is proper among saints; for this you know with certainty, that no immoral or impure person or covetous man, who is an idolater, has an inheritance in the kingdom of Christ and God.” (Ephesians 5:3, 5)
Impatience – believing that God is not providing fast enough. “I wait for the Lord, my soul does wait, And in His word do I hope.” (Psalm 130:5)
Pride – believing you deserve more than God has provided. “When pride comes, then comes dishonor. But with the humble is wisdom.” “Pride goes before destruction, And a haughty spirit before stumbling.” (Proverbs 11:2, 16:8)
Lack of trust – believing God does not really love you or care about you. “Casting all your anxiety on Him, because He cares for you.” (1 Peter 5:7; John 3:16)
Presuming on the grace of God – lack of planning. “The ants are not a strong people, But they prepare their food in the summer.” (Proverbs 30:25) There are exceptions such as loss of a job, catastrophic health problems or other events, or a long-term uncontrollable drain on resources.
Discontent–tying your happiness to things rather than God. “Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, ‘I will never desert you, nor will I ever forsake you.”‘ (Hebrews 13:5)
“No one can serve two masters; for either he will hate the one and love the other, or he will be devoted to one and despise the other. You cannot serve God and wealth.” (Matthew 6:24)
