I've been reading a lot of blogs lately where people talk like debt is the absolute worst thing in the world...and debt should be avoided LIKE THE PLAGUE. If you have debt, you will NOT BE happy until you pay it off...and you MUST do EVERYTHING in your power to get out of debt IMMEDIATELY..even if that means sleeping in a cardboard box and working 15 jobs.
REALLY!!!???
I mean, no one is saying that debt is a good thing, but it's NOT the WORST thing in the world. It's not something to be avoided at all costs, if those costs include your sanity and your peace.
I mean, no one is saying that debt is a good thing, but it's NOT the WORST thing in the world. It's not something to be avoided at all costs, if those costs include your sanity and your peace.
Okay, first of all, while debt is not a good thing, it's not immoral either. The bible talks about debts. It talks about paying your debts. It doesn't talk about debt being TOTALLY EVIL. Debt is simply a tool that we may sometimes use when we need something and can't afford to pay for it right away. Things like oh...education or houses.
Now, clearly debt is not a good thing if you are using it to live outside your means. And anyone who reads this blog, knows that we are all about saving money and being frugal around here.
But, sometimes things come up.....like a law degree because your husband feels called to law school and is a bit burnt out by teaching. And sometimes the only way to get that is by taking out loans. And, that's okay....because if everyone listened to Dave Ramsey and no one took out student loans there would be a lot less doctors and lawyers around. And well...most people would agree that doctors are pretty necessary. Lawyers on the other hand....it's debatable how necessary they really are....but well....someone's gotta know the law.
Now...I agree that one should be hesitant about going $80,000 into debt so they can get a degrees in oh...something really obscure like Himalayan basket weaving. But, maybe what this world really needs is more Himalayan basket weavers? Or maybe someone feels a calling to a more clear career path, like nursing or education or theologian and those student loans may be just what they need.
And..sometimes even smaller things come up...like the transmission goes out or you need a new car. And, sometimes you have to go into a small amount of debt...and that's okay. It doesn't make you a bad person and it's not a moral failing. I've know good people who've had foreclosures or gone into bankruptcy or had a short sale...and you know what....they're still good people. Sometimes we make mistakes and bad choices....and sometimes bad things just happen to us. That's life. Our worth is not measured by our financial independence.
This doesn't absolve us of financial responsibility., we still have to pay our debt and be wise and prudent..but our worth and value is not measured by the size of our emergency fund or if we are solvent. Even Dave Ramsey himself goes into "debt" each month when he uses electricity before he actually pays for it!
So, definitely be frugal....save money.....pay extra on any debts if you are able. Get a second job IF it doesn't cause too much stress or anxiety. Do what you can within reason....but don't let debt or financial worries rob you of your peace. And most of all, listen to Auntie Leila...because there are things worse than debt. Pay especially close attention to her third point....because are Auntie says...you can get money later, but maybe not kids.
Trust in God, do your best, be wise and have confidence that everything will work out Because, usually sooner or later, it always does.
