"Somebody help me! I'm in debt up to my eyeballs!" exclaims the man on the riding lawn mower. In a television commercial for a lending institution, he shows off his beautiful home, his new car, his country club membership, and his fancy backyard barbecue. But he can barely pay his finance charges and he's crying out for help.

Slaves of Debt

Do you feel like this man? Are you a slave to your debt? The Bible story of the Exodus tells of the Israelites' escape from bondage. Getting into Egypt was easy, much like getting into debt. They came to escape famine and things were great for a while. However a new pharaoh came to power, and he chose to persecute the Israelites. Once guests, they became slaves, powerless to change their situation. Like the Israelites' slavery, our burden of slavery to debt can become heavier and heavier, robbing us of our freedom to choose how we spend our money.

The books of Exodus, Leviticus, Numbers, Deuteronomy, and Joshua tell the story of God's people and their escape from bondage. They cried out to God for help (Exodus 2:23, 24).

Could the Exodus story be a model for escaping the bondage of debt? After crying out to God, the Israelites continued in their bondage until God sent them a leader to show them the way out. Moses led them across the Red Sea, into the desert, and on to the verge of the Promised Land. It was a tough trip, and the journey was made longer by the people's refusal to trust God.

What Is Financial Freedom?

Many today seek financial freedom. Some define it as not having to worry about money. Others think financial freedom is just getting out of debt. Still others consider themselves financially free when they have a choice as to how their money will be spent. Christian financial expert Dave Ramsey says, "Debt is dumb." Once you take on debt, you are obligated to pay the interest and principal before you do any discretionary spending.

The late Larry Burkett, founder of a Christian financial ministry, has written extensively about personal finance from a Christian standpoint. He emphasizes the importance of avoiding excess debt. Mary Hunt, editor of Cheapskate Monthly and Debt-Proof Living, also takes a dim view of debt.

A common theme among these writers is the need to avoid debt or to get it paid off as soon as possible. They emphasize that, once obligated, Christians pay their debts. Not to do so is a violation of the Golden Rule (Matthew 7:12). Bankruptcy laws exist as a way to escape from debt, but should a Christian take that route without first attempting other avenues?

How to Escape

Let's imagine that we are in debt "up to our eyeballs," like the man in the TV commercial. We must turn to God for a way out. We need to pray and we need a plan. We will have to prepare for the journey and determine to follow God's lead.

First, we must identify what is keeping us in financial bondage. The most common factors are excess debt, credit problems, and spending habits. Some people end up in debt because of unavoidable situations like catastrophic illness, but for most people, their debt builds gradually until it becomes unsustainable.

Excess debt is a problem, but not all debt is bad. I don't know many people who can pay cash for a home or a car. Any financial counselor will say that it's not smart to go into debt to buy depreciating assets (items which don't hold their resale value). Where most people get into debt trouble is with credit cards and consumer loans for perishables like food, luxury items, and entertainment.

Borrowers with credit problems pay higher interest rates than those with good credit records. These days, lenders often base the interest rate on credit cards and loans on the consumer's credit rating. Everyone should check his credit record annually, because if it contains errors, one's  credit rating might be negatively affected.

Those with big debt and credit problems usually also have trouble with spending habits. Part of our plan must be controlling spending, distinguishing between what we merely want and what we really need.

Trust God

Second, to get out of financial bondage, we need to trust God for deliverance (Psalm 31: 1, 2, Exodus 6:5, 6). The trip wasn't easy for the Israelites, and it won't be easy for us. Rule Number One for the Exodus was "Let God take the lead." The pillar of fire by night and the cloud by day were guides for the wanderers (Exodus 13:21). We need to pray for courage to give up bad habits that have enslaved us. We're embarking on a journey, not knowing how long it will take or how many dangers we'll face along the way.

Turn to readily available sources of information when devising your plan.  Personal Finance for Dummies, often found in public libraries or used bookstores, is a good place to start. Books by Mary Hunt, Larry Burkett, and Dave Ramsey contain valuable guidance from a Christian perspective. Information is also available on the Internet.

In our planning, we need a leader, a Moses to help us find the way. If our time to study is limited, or if we have trouble devising a plan, we can seek counseling from a non-profit agency or financial professional. We can pray that God will show us the right advisor. We must be sure that the person or agency we choose is highly recommended by others, knowledgeable, and certified in the field. And perhaps most important, our advisor must recognize our need to follow God's lead in this journey.

Stick to It

Once we've identified our problem and developed our plan, we must start the journey and determine to stick with it. Our plan will keep us focused on the goal and headed in the right direction, like the pillar of fire in the Bible story. We'll keep our plan, in writing, close by when doing our financial chores.

Moses and the Israelites knew they were going to the Promised Land, but they didn't know they would wander for 40 years before arriving. The Israelites made many mistakes. While Moses was on the mountain receiving the Ten Commandments, the people were down below worshiping a graven image. We may make wrong turns or experience delays, but we must continue the journey. No matter what happens, we must always return to our plan or to a revised version of it.

With their backs to the Red Sea, the Israelites panicked. They weren't even out of Egypt yet, and their faith in God's deliverance was failing (Exodus 14:10-18). With prayer and patience, we must persist in the journey out of debt and toward financial freedom. Patience is difficult in today's culture of immediate gratification. We will lose courage at times, and we will have doubts about our ability to stay the course. It will be tempting to depart from the designated route for something we want or think we need. Remember that the Promised Land is ahead.

The Promised Land

Whether our journey out of debt takes 10 months or 10 years, we can be assured that God will be there for us, just a prayer away. When we call out to God for help, we must listen for his answer. Moses and the adult warriors who came out of Egypt did not cross into the Promised Land because of their disobedience to God in the wilderness (Deuteronomy 32:48-52 and Joshua 5:1-9). Their mistake? Not listening to God.

Some debt situations are so severe they seem impossible to escape. The bankruptcy laws exist for these desperate situations. Declaring bankruptcy does not mean walking away from debt. There are multiple options, one of which allows debtors to reorganize and extend payments.

The Mosaic Law provided for forgiveness of debt under certain circumstances. Deuteronomy 15 includes a description of "the Lord's remission" (New Revised Standard Version), which provides debt relief every seven years. The same chapter also contains a warning for God's people not to take advantage of one another under this arrangement.

God kept in contact with the Israelites throughout their 40-year trek in the wilderness. We can be certain that God will be with us, too. Whatever route we have chosen toward financial freedom, with God's help, we can be at peace with the result (Philippians 4:6, 7).  

Personal Finance Resources

Web sites:

http://www.crown.org/

http://www.daveramsey.com/

http://www.debtproofliving.com/

Books:

Other titles by these authors may be available in public libraries.

Debt-Free Living: How to Get Out of Debt (And Stay Out), by Larry Burkett. Moody Publishers, 2001

Mary Hunt's Debt-Proof Living: The Complete Guide to Living Financially Free, by Mary Hunt. Broadman and Holman, 1999

Financial Peace: Revisited, by Dave Ramsey. Viking Books, 2003

Personal Finance for Dummies, Fourth Edition, by Eric Tyson. Wiley, John and Sones. Inc., 2003

-EA