Live Debt Free – Avoid the Stress of Debt
If you’re just joining, I’m writing a 5 article series entitled, Live Debt Free. This is the third article out of four in which I discuss the four reasons why our family is pursing the debt free goal (including our house). I plan to end the series with a fifth article that will include some practical tools to help in becoming debt free.
Most of us have heard that money is one of the leading causes of divorce in our society today. I can’t help but think debt must play a large role in this cause because of the people I meet in financial counseling who are experiencing so much pain from it.
Live Debt Free – Avoid the Stress of Debt
Debt’s Weight
Debt carries a certain amount of weight with it. Some debts are smaller and more manageable within a family budget. Other debts weigh so heavily a family has difficulty in meeting monthly expenses. If adequate amounts of money are not allocated to transportation, food, entertainment and other categories, a family may find itself making unhealthy sacrifices each month.
Let’s examine the affect of such a sacrifice. Entertainment is one of the lower priority areas of a budget that usually will suffer because it’s not essential for survival. However, it’s unhealthy for a husband and wife, or family, not to have an amount of money planned for fun together each month.
Temptation
A family can be tempted to use a credit card out of frustration from the lack of entertainment or money for other areas. After the credit card has been used and debt increased as a result, the weight of debt on the minds of the husband and wife increases.
Doesn’t life sometimes require enough work and commitment as it is without adding more to the mix? Increasing worry and stress from the debt can exhaust people and put relationships at risk if not properly managed.
Avoid Debt
Personally, I would just soon not put our family through this experience and avoid debt all together going forward. In my opinion there is no immediate amount of satisfaction in buying a new car, toy or other that would cause me to want to increase debt and the work to manage it.
Financial Hope
Some have made decisions they wish they could change today, or others have unfortunately been impacted by unplanned expenses, such as healthcare, that couldn’t be avoided. Experiencing the stress associated with debt is a serious matter. Fortunately, there are steps that can be taken that provide financial hope no matter your debt situation.
- Pray about your debt. Ask God to help you and trust that he will.
- Read Biblical Financial Responsibility and learn how God plays an important part in your finances.
- Contact a financial counselor to help explore options specific to your situation.
The next article in the series will discuss living debt free to help your children.
- Live Debt Free – Biblical Advice
- Live Live Debt Free – Fulfill Your Life Purpose
- Live Debt Free – Avoid the Stress of Debt
- Live Debt Free – Help Your Children
- Tools to Live Debt Free
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Tags: Biblical Finance, Debt, Financial Counseling, Live Debt Free, Stress
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