Debt...the American Way?

[RU OX Alum]

yeah, my card was maxed out cuz of holidays, I bought a computer and a car, but I worked hard and got good commision and paid off everything. Except the car.

[shinerbock]

Not in the same situation, but don't worry, its not just the American way.

[LouisaMay]

I've been following the Money Map from Crown Financial Ministries. They call it the "Road to Financial Freedom." It's Christian-based, and I love it! They have a radio show, too, and I've learned so much.

Good job with getting that debt down!

[Kevin]

What is Christian about being smart with money?

Oh, I see. Call it Christian and you have instant access to an audience who will instantly recognize you as credible if you throw in a few Bible verses.

[MysticCat]

Originally Posted by Kevin

What is Christian about being smart with money?

Well, while I would not say that being smart with money is a uniquely Christian principle by any means, I would say that being a good steward of one's possessions, including money, is a practice and a perspective that is firmly rooted in the Christian tradition. That is certainly the religious perspective that we are trying to teach our children.

That said, I tend to have the same kind of reaction as you to enterprises that peddle things like financial planning or money management based on "Biblical principles" to churches and church members. LouisaMay, I'm glad Crown working for you, but unless part of the Road Map includes things like "give away all you have," "it's easier for a camel to enter the eye of the needle," "blessed are the poor," and "woe unto you who are rich," I'm afraid I'd have to question just how Biblical the principles are.

But perhaps I am judging it unfairly -- admitedly I know little about it. I suppose I have just become jaded by all the "preachers" who have assured their flocks that God wants us all to be prosperous.

Congrats, AOX81 and Billy.

[shinerbock]

I agree with Mystic. I think living relatively debt-free fits in well with the ideal of Christian stewardship.

I think there are many faith-based companies who try to exploit people. However, I think there are many who provide a service by Christians, for Christians. A lot of Christians tackle problems in their life from a faith perspective, and companies like this allow them to do so. I think it also helps to instill trust between consumer and service. Now, this may be at times misplaced depending on the company, but its like anything else. If you're in the auto repair business and you're a UGA grad living in a place with a mix of other school alums, you might emphasize (got called on in class at this point) that to form a common bond and indicate that a consumer with a similar background can trust you. Of course this can mislead consumers and induce fraud, but it can also be valuable in a society filled with consumer fraud.

[LouisaMay]

Wow...I had no idea my little comment would produce such interest...

Crown isn't a debt consolidation company or anything like that. They teach good stewardship as other posters have suggested. Their use of scripture is sound. The Bible actually has a lot to say about finances, and Crown applies those principle to contemporary financial issues (such as getting loans, giving loans, charitable donations, saving, retiring, co-signing, etc.). They certainly do not teach that all believers will be financially prosperous.
It's very practical. It's helped me anyway...