How Important Is It for Believers to Be Debt Free?

Those pursuing the “good life” routinely incur debt, yet psychologists attest that a debt-funded lifestyle leads to depression, anxiety, resentment, stress, denial, anger, frustration, regret, shame, embarrassment, and fear. (That doesn’t sound like a very good life after all.)

In rare cases—for instance, when we buy a reasonably priced house that may be a good long-term investment—we should borrow only enough to allow us to make affordable payments and pay off the debt as early as possible. Countless people end up spending more on a house than they can afford, and then for years regret that they “can’t afford to give.”

We must learn to say no to many of our wants in order to say yes to obedience, freedom, and generosity—and the happiness God brings to us through them.

Though staying out of debt to begin with is preferable, I’m all in favor of people working to get out of debt. My one concern is that I see some believers whose whole purpose in doing so is to have more money to spend on themselves. It’s not that making plans for the future and going on vacations are inherently wrong. The problem arises when the end result is these debt-free believers becoming more efficient materialists rather than devoted hearts sold out to the kingdom of God.

I’ve even heard teaching within the Christian community, including personal finance counseling, that encourages people not to give before they get out of debt. That’s not eternity-minded, kingdom-centered advice!

Let’s get out of debt so we can give more money to God’s kingdom, and be financially free, not centering our lives around our debt. Our goal should be a life that mirrors Jesus’ generosity, not a money and possessions-driven life.