Finance Friday: Freedom from Debt in the New Year
Debt casts a long shadow, affecting everything from national policy to personal decisions. As of November 2024, the U.S. national debt has risen to a staggering $35.9 trillion, while American households collectively owe nearly $17.94 trillion, with an average of $104,215 per household. These numbers reflect not only financial challenges but also the burden that debt places on our ability to thrive.
Scripture reminds us of the weight of debt, as Proverbs 22:7 teaches, "The rich rule over the poor, and the borrower is slave to the lender." This verse calls us to recognize the limitations debt imposes on our freedom and encourages wise stewardship as a path to financial health.
As we look toward a new year, may 2025 be a time of renewed commitment to managing, reducing, and ultimately eliminating debt. The power of freedom from debt cannot be overstated. It liberates us to live more fully, serve others with joy, and give generously without hesitation. Free from the constraints of financial obligations, we can focus on what truly matters: our relationships, our purpose, and our calling to make a difference in the world.
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May 2025 be a year of greater freedom and faithful generosity as we live as stewards of all God has entrusted to us.
Florida United Methodist Foundation | December 2024 | Lakeland, FL
Pastor at First United Methodist Church of Stuart
2 个月Well put, Ed. Most things people borrow for depreciate in value (cars and anything bought with a credit card where a balance is carried) which makes zero sense. My favorite things about my family’s financial life are (1) living generously and (2) living debt free. #2 goes a long way in making #1 possible!