Paying off debt isn't just wise financial advice, it goes to the heart of ethical Christian living, says Ed Reid, stewardship director for the Seventh-day Adventist Church in North America.
In light of a dramatic leap in the number of bankruptcies in the United States, the director of stewardship for the Seventh-day Adventist Church in America has called for a greater awareness of the dangers of personal debt.
Paying off debt isn’t just wise financial advice—it goes to the heart of ethical Christian living, says Pastor Ed Reid. “Debt is probably the largest single frustration for families—living outside their means. It’s high stress. More than 80 percent of people who divorce say money matters was one of the biggest factors in the dissolution of their marriage.”
Last year the American Bankruptcy Institute reported nearly 1.5 million non-business filings for bankruptcy—a more than 50 percent increase in the past eight years. “By now that’s 29,000 families declaring bankruptcy each week,” says Reid. And the number is growing. The Federal Reserve says that household debt is at a record high relative to disposable income.
“From a biblical perspective if we incur a debt, we are duty-bound before God to pay it back,” says Reid. “We can’t just lightly say ‘Sorry I’ve gone bankrupt,’ and write it off.”
He points out that two-thirds of Jesus’ parables deal with money: “There are more than 2,000 references in the Bible dealing with money, possessions, and our attitude toward them.
“The Bible says in Proverbs 22 that a good name is chosen rather than great riches,” he adds. “The whole point is that our character, our name, our signature, our handshake should mean something to people. Wouldn’t it be awesome for people to know that if you’re an Adventist, you’re going to pay your debts on time and you’re not going to try to cheat people out of what you owe them?
Reid says that principles of financial management need to be taught to young people, giving them a solid foundation that “will be a benefit to them their whole life.”
For more information about the stewardship department of the church in North America, go to:
http://nadadventist.org/adventiststewardship/
