"The rich ruleth over the poor, and the borrower is servant to the lender."

- Proverbs 22:7

My grandfather, Lloyd Thompson, grew up during the depression. I remember him telling me at a very early age, that one should not buy something unless he could pay for it. Back then, that applied to everything. Cars....houses....everything! Fast forward to today, and the stigma of being a debtor has disappeared. After all, everybody is doing it! The traditional American Dream, especially for those who grew up in families that survived the depression of the 1930s, was to have a home "free and clear" of any mortgages. The security of a debt-free home was the goal of every family in the 20th-century United States, however that is changing. Being in debt has become a way of life for many Americans. Recent economic data shows that consumer debt, particularly credit card debt, is on the rise. The stigma once associated with debt is gone, and it has become the norm to borrow money even for every day items like gasoline and groceries.

My grandfather never graduated from high school. In those days, one went to work as soon as you were old enough to hold a job. Yet, he became a very wise man. He served as an elder and a role model for me. I watched how he and grandmother lived frugally; but, were generous to many. He helped me buy my first car, a 1969 Volkswagen beetle for $2,250. I was never so proud as the day I payed him back in full for that first loan.

When I look around today, I observe that the United States has become a nation of debtors. In recent years the level of household debt in America has surpassed the level of household income, so for the first time in our collective history we owe more money than we make. Consumer debt in America has risen to a record high of more than 2.5 trillion dollars. Today the average US household has more than $9,000 in credit card debt and spends more than $1,300 a year in interest payments. Meanwhile, the national debt (the amount of money owed by the US government) has surpassed 9 trillion dollars – and is increasing at a rate of about $1.40 billion per day. Debt is so ingrained into our culture today that most Americans can't even envision a car without a payment, a house without a mortgage, a student without a loan, and credit without a card. We've been sold debt with such repetition and with such fervor that most folks can't conceive of what it would be like to have no payments.

While many Americans have become accustomed to making monthly payments, the truth is that debt is contrary to God's plan for our lives. The scripture clearly says the borrower is slave to the lender - God would have us free of that kind of bondage.

In recent years the value of the US dollar has dropped significantly, inflation has increased, consumer debt has reached an all-time high, and the US housing market has become dangerously unstable. Anyone who thinks that the next few years are going to be smooth sailing is living in a dream world. For the first time in the history of our country, the next generation may find themselves at a lesser standard of living than their parents. While that, in and of itself, may not be an important spiritual concern, what does the Bible tell us about being a steward of our material goods? How does one prepare for times of economic uncertainty? These are some of the topics that the Elders have been addressing on Sunday mornings during our Bible Class hour in our town hall meetings on the 4th level this past month at the McKnight Road Church of Christ. The Bible has much to say about how we use our talents and our worldly possessions. The principles we discuss are, in my opinion, the secrets to how to live life at a high level of joy and gratitude. Being a slave to anyone, except our Lord and Savior, is a bad thing. Come and join us at 9:00 a.m. and feel free to join in the discussion next Sunday.