Help Is Available for Debt Victims! [Main Story]
BY G. EDWARD REID, director of Stewardship, North American Division
hether from a lack of financial training, wanting more than one can afford, experiencing a family crisis, or obtaining student loans, many individuals and families today find themselves in debt. This debt load has very serious consequences. For example, studies show that problems with money management are a major factor in the dissolution of many Christian marriages. But you don’t have to live with the financial stress year after year. Help is available to deal with debt.
The first and most important step is to take God as your family business partner. Put Him first, and He will bless the rest! “Honor the Lord with your possessions, and with the firstfruits of all your increase; so your barns will be filled with plenty, and your vats will overflow with new wine” (Prov. 3:9, 10, NKJV).*
Next, research and read about the subject of personal finance. Several good books have been written by Christian authors that give good assistance in becoming debt free. I will recommend three:
Free and Clear by Howard Dayton—www.crown.org (then click on “Buy Resources”) or www.amazon.com.
Debt-Free Living by Larry Burkett—www.amazon.com.
And my book, It’s Your Money, Isn’t It?—www.adventistbookcenter.com.
Finally, integrate the following seven recommendations to develop better money-management skills:
1. Get organized—develop a budget—have a plan.
2. Spend less than you earn—determine to live within your income.
3. Save a little money every pay period in an emergency fund.
4. Avoid additional debt like the plague.
5. Be a diligent worker.
6. Be faithful to God—your family cannot afford to live without His wisdom and blessing.
7. Remember that this earth is not our final home. Be content.
Many more students and other young adults are reading and attending seminars to learn the biblical principles of money management. These seminars can provide valuable information about this important area of life—and is definitely time well spent. Check with your church pastor or other community leaders about possible seminars being held in your area.
*Texts credited to NKJV are from the New King James Version. Copyright © 1979, 1980, 1982 by Thomas Nelson, Inc. Used by permission. All rights reserved.