Grace Moments Devotions - March 4, 2018

Pay your debts ASAP
Pastor Mark Jeske

Have you ever heard of the generational theory? The concept is that there are very different cultures, including money cultures, depending on how old you are. People from the Depression/World War II generation (the “Builders”) hate debt, whereas people from the iPod generation (the “Millennials”) tend not to worry about borrowing. Builders pay cash; Millennials just get another credit card.

When it comes to borrowing, the Builders are wiser. Every financial planner worth a dime will tell you to pay down debt as rapidly as possible. Interest payments just eat cash, and if you string out your payments too long you will end up buying something twice. Out-of-control debt also destroys your credit rating and makes it harder to get a decent loan on really important things like a home.

If you struggle with debt, ask somebody you know who is a good money manager how to set up a plan. Don’t get overwhelmed to the point where you just stop trying. Start the discipline of spending less than you take in, even if it’s just a little at first. Cut up those cards.

Paying down debt ASAP also applies to personal loans from relatives or friends: “Do not say to your neighbor, ‘Come back later; I’ll give it tomorrow’—when you now have it with you” (Proverbs 3:28). That’s not only good financial advice. It may also save a friendship.


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