Did you know that financial stress is one of the biggest contributors to depression and hopelessness? Finances play a big part in our first-world life. Everybody can’t seem to get enough of the mighty dollar. Yet, it seems we often hear of someone with great wealth settling in bankruptcy court. Debt is crushing this generation of young people. Whether school debt or consumer debt, we’ve got a financial problem.

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The Notes

[Tweet “The problem with debt isn’t in what we’re buying, but the ideas we’ve bought into. #HNRTB”]

The only way out of debt is to begin to debunk the lies we’ve bought into that debt is necessary and unavoidable. Talk to Dave Ramsey. (Actually, he’s pretty fun to follow on Twitter)

Debt is a direct attack on financial margin. If every dollar you make goes toward expenses and debt, you leave nothing for the rainy days. Here’s the kicker – if you can work, you should work – and work hard at that.

We need to re-align our investments

Yes, I know I said a big word – investments. Every dollar you earn will be invested into something. What something is that? Well, for many it’s clothes, music, entertainment, fast food, more clothes, more fast food, and more entertainment. It’s put into disposable things – stuff that won’t last through the weekend. Those things in themselves aren’t bad. You need clothes and food. Many of us need to drive a vehicle to and from our job. A movie here or there isn’t terrible. But how comfy are you with debt? How much margin does your bank account have? Are you able to give to someone in need? Or have you already assigned that dollar to some kind of need/want?

What does the Bible say about money?

Jeff’s Thoughts

Truthfully, I’d be lying to say I have no debt. Most adults have a mortgage, car payment, student loan payment along with their monthly bills. So, to jab at someone who is living with debt is hypocritical and not my intention in this week’s episode. Where I see the issue is with credit card debt. Consumer debt based on credit must be squelched early and often. One credit card is all I need. I don’t need 15 different cards for my favorite stores, nor do I need a $10,000 balance showing up every month.

A great place to go to find help for getting out from under massive debt is Dave Ramsey’s Financial Peace University.