Debt is an unfortunate fact of our current economy. To scare you a bit with statistics, it is reported that student loan debt is averaged at $32,264, mortgage debt at $155,192, and credit card debt at $15,611. To scare you even more, it is reported that since 1999, student loan debt has increased by %500, while the average salary for these students has decreased by %10, meaning my generation is on the path to not making enough to pay off our debt.
These numbers scare me. I feel the devil prodding at my mind, laughing, “You shouldn’t have gotten that Religion degree!”
As a result, I’m tempted to buckle down and conquer my student debt, like many of my peers are already doing. I’m tempted to not spend, to create plans, and to hyper-focus on the goal of financial freedom.
Yet, this is troubling to the Christian wanting to live selflessly like Jesus.
The problem with all the strategies and methods of eliminating our obscene amounts of debt today is that it centers us on ourselves.
In other words, all the strategies available to get us out of debt sooner include habits that don’t foster the selfless life.
It’s easier to live for ourselves when we make financial freedom such a high priority.
It’s no wonder Millennials are described as being one of the most vain generations out there! We need to focus on ourselves if we ever want to climb out of the mounds of debt we’ve accumulated.
But here’s the rub: as Christians, we know we should make a difference and live for others more than ourselves.
How do we navigate the tension of increasing debt and selfless living? Does one have to give?
I honestly struggle with these questions daily. I want to live a life that’s centered more on serving others. But my debt keeps me complacent, unwilling to give gifts or take action in ways that would hurt my wallet.
I haven’t perfected this, but I do believe there’s a way to live selflessly during this time. Maybe, there’s a way to intersect our desire for financial freedom with our desire for selfless living.
Consider the following strategies I’ve been pondering over:
1. View time in terms of people, not money wasted.
You’ll never want to spend time with loved ones if you consistently think of time in terms of money wasted. Though you have work to do and money to make, choose not to deprive yourself of meaningful relationships. Financial freedom should never cost you your relationships.
Remember: it’s never money vs. people. People should always triumph profit.
2. If you can’t give money, give time.
If you feel you can’t tithe at church, offer your time instead. Just be giving something. It shows you are not ruled by your debt—and that is true financial freedom.
3. Don’t order anything out with friends if you don’t have money.
If you want to be intentional about your finances while also being committed to people, don’t feel compelled to buy things when you are out with your friends. It’s o.k. if they spend money and you don’t. What’s really important is that you’re spending quality time with them, not that you’re spending with them.
4. Follow the need, not the money.
When we’re in debt, it’s easy to follow the path with the most money. It’s great when this path is also the most selfless one, but typically, it’s not—the dollars signs prove it. When you’re caught in this fork, I suggest doing something pretty radical: follow wherever the need is. Investing yourself in a worthy project that’s impacting lives is far more valuable than escaping your debt. Do this because you’ll remember the times you felt meaning more than you will the times you made money.
5. Work a job in tandem with a larger mission.
Paul did tent-making to support his ministry. In other words, he was bi-vocational—a tent maker and an apostle. Being an apostle was his true calling, but he coupled that calling with a job that made money. We can do the same thing. Work a job, but be sure to also be invested in something larger. This larger purpose will drive you to be more selfless in this time of making money.
6. Consider entrepreneurial pursuits.
Entrepreneurship ensures you build a business that makes a difference and also makes money. It’s a way of intersecting your God-given talents with a larger purpose. Discover what you were born to do and throw yourself in that direction. The more you do what you’re called to, the more you’ll start benefitting others with your talents.
Debt can either force us to be more self-centered, or compel us to work harder with our passions so we can save the world and make money with them. The trick is to never let debt master us. Jesus didn’t die and rise again so we could get trapped in money. He gave us new life so we could live freely and benefit others.
Never let that truth escape you, even when debt makes it difficult.
If you liked this article, check out:
9 Ways Jesus Would Run a Business the Right Way
4 Ways to Start Being Intentional with Your Finances
How to Be Debt-Free without Earning More Money
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