The Privileged Life: Faith and Your Money

“Do not be one of those who shakes hands in a pledge, one of those who is surety for debts; if you have nothing with which to pay, why should he take away your bed from under you?” (Proverbs 22:26 NKJV)

Who doesn’t love Dave Ramsey?!? 

Well, maybe folks who don’t want to make the effort to get their finances in order. But they certainly can’t argue with Dave’s results—he’s the go-to guy for getting out of debt.

I recently listened to a podcast interview featuring Dave, and I was shocked at the statistics he calmly announced. According to his website, the average credit card debt for households is almost $20,000. Student loan debt is an average of $58,000. Car loan debt is almost $37,000. That’s beyond mortgages, utilities, food, etc. Let all that sink in for a moment.*

Does that apply to you? Have the costs of living soared beyond your income?

If you’re carrying a backlog of credit card debt, I sympathize. I remember the days when it seemed I always had a little “debt trailer” attached to my regular monthly bills. 

It started with a college tuition loan. Later, it was a car payment. Then, I bought a house at 10 percent interest. Ouch. And, I had to take out a second mortgage immediately for a new heating system in the middle of subzero temperatures in Memphis, of all places. I paid credit card bills with minimum payments for a while, to get me through those days.

Praise God, I married a squirrel-like saver. After our wedding, my beloved and I were on the same page about getting out of debt and saving for the future. He is far more disciplined than I am, and his encouragement has helped me tremendously. 

We tackled debts and lived lean. Over six to seven years, we scrimped on virtually all expenses. No eating out. Meals were made from coupon shopping at the grocery store and cooking at home. Ordering pizza was a once-a-year splurge. Clothing? It’s a good thing we had tiny closets because we only bought clothes when we needed to replace ragged ones. Vacations were drives to visit with extended family or go camping.

The result was elimination of all debt except for our house payment. We closed our mortgage early. In the decades since, we’ve been debt-free and solvent. 

One of Dave’s primary objectives is to help people see that debt and financial management are spiritual issues. He has observed too many families living in abject fear and under huge amounts of stress because of the debt burden and how they got there in the first place. 

Dave also notes that money problems are among the primary issues that break marriages apart. He should know. His marriage nearly fell apart when he and his wife found themselves chained to more than a million dollars in debt. But they survived and now teach others how to get a grip on budgeting.

As I’ve pondered the spiritual aspects of money, I’ve found myself on both sides of the coin (pun intended). Either I’ve languished in overwhelming debt of my own making…or I’ve been prideful in my money management. 

How can you and I avoid both of those unrighteous attitudes?

My best suggestion is grateful prayer to God. 

If you’re alarmed about your debt, fall on your knees in humility before Your Lord. Thank Him for bringing you to the point where you absolutely must do something about it and must rely on His strength. It’s always difficult to thank God for hardship, to rejoice in fearful days, to accept that there are no easy ways out of it. Ask Him to give you wisdom and opportunities to endure the painful consequences and to resolve your budget woes…especially if you need to cut up your credit cards. If you’re married, pray that you and your spouse can be united in this effort.

If you’re debt-free, fall on your knees in humility and thank God for providing all things. Rejoice in how He has led you through your struggles, for giving you discipline and resources, for blessing you beyond your needs so you can help others. Never trust in wealth or its fleeting satisfaction. Avoid letting money become the purpose of your life. Instead, honor God by acknowledging that everything you have belongs to Him.

Come in thanksgiving before our loving Father, the source of all gifts, and ask Him for His wisdom in all money management. Before you make any major financial decisions, take your requests before Him to get His guidance. Search among the hundreds of Bible verses on money to gain His knowledge. Understand His laws about tithing, and seek counsel from godly financial advisors.

Let gratitude to God be your guiding star to get you through budgeting. We are debtors who have received His unmerited favor through the sacrifice of His Son, Jesus Christ, on the cross. He has paid for all of our sin debts! By faith alone, His gift of eternal life is ours. How could we doubt His purposes for us? How could we hold anything back from Him?

Friends, let’s take our money and material things to God and lay them daily at His feet. May He guide you in the coming days—especially as Christmas expenses approach—to be the very best financial manager you can be with what He has provided. By the grace of Jesus Christ, we will shout with other Dave Ramsey devotees, “We’re debt-free!”

Heavenly Father, I come before you on my knees, praising You in humility for all You have provided for me. I praise You when financial storms arise because they turn me back to You. You are my strength when I am weak and need to set things right. Let me always trust in Your good commandments for money management—they are fountains of life and peace. Everything is a gift from You. Make me wise, prudent, and generous in stewardship of what You’ve given me. Thank You for Your precious gift of salvation. In Jesus’ name, Amen.

* https://www.ramseysolutions.com/debt/average-american-debt

If you’re struggling with debt, you’ll find lots of encouraging solutions on Dave’s website, including his program called “Financial Peace University”: https://www.ramseysolutions.com Check around your area, too, for churches who are hosting classes.

Nancy C. Williams is a Christian wife/mom with a writing career spanning more than 40 years in business and journalism. Williams is the author of the novel To Love a Falcon and the devotional book A Crocus in the Desert: Devotions, Stories, and Prayers for Women Experiencing Infertility. Her blogs are featured on Crossmap.com and AriseDaily. To follow Nancy’s posts and news, go to her home page at NancyCWilliams.com and subscribe at the bottom. 

© Copyright 2024 Nancy C. Williams (text and photography). Unless otherwise noted, Scripture verses are taken from the New King James Version®, Copyright © 1982 by Thomas Nelson. Used by permission. All rights reserved. #daveramsey #financialpeace #overcomedebt #creditcarddebt #studentloan #mortgage #Christianstewardship #budgeting #moneymanagement #ramseysolutions