Playing the Fool

August 26, 2012 — 15 Comments

Photo Credit: Flickr User Images_of_Money (Creative Commons)

According to the 2010 US Census Bureau, the average credit card debt per American cardholder was $5,100, while the average consumer debt (car loans, student loans, mortgages and credit cards) was $7,800 per person (not per family).

We are a country that lives outside our means.

We would rather have what we want, when we want it, than wait until we can afford it.
We would rather have the latest and greatest toys, than save money for an emergency.
We desire that new car, bigger house and the latest styles.
We want to keep up with the neighbors.
We want to go on that vacation, have that night out or buy that one thing that we know will make us happy.

We are obsessed with stuff.
And we are willing to take out a loan for it.

We go into debt for a new car.
We’ll take out a mortgage for a home.
We charged a combined $51 billion worth of fast food in 2006.
We take out loans for clothes, food, and toiletries.
We charge books, music, even entertainment and will be paying it off for months.

We devour everything we have, and still consume more.

“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” Proverbs 21:20

When we rack up debt, when we take out loans, when we continue to swipe our credit cards and choose to “pay for it later,” we become something no one likes.

A fool.

Living outside our means will eventually catch up with us.
Swiping our credit card will eventually cost us.
Taking out another loan will eventually wear on us.

Every bit of debt we have robs from our future to feed our present.

It leaves us unable to pursue certain opportunities.
It dictates the job we have to keep.
It exposes us to further debt when an emergency arises.
It stifles our freedom, keeps us from following our dreams and produces unneeded stress in our lives.

And if we die in our debt, it gets passed on to our children.

A wise man learns to live within his means, saves up for the future and leaves an inheritance for his children and his children’s children.

It’s time to think beyond our own desires and begin financing the futures of those who come after us.

How had debt hindered you from moving forward in life?

This post is the first in a series on debt. View more in the series.
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Jason Vana

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Jason is an imaginative leader with a heart to ignite younger generations to impact the world for Christ. He currently lives in Monmouth, Illinois, and oversees Ignite Student Ministries - a dynamic ministry to ignite youth, young adults and university students to passionately pursue Christ and transform society in high schools, work places and universities around the world.

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  • http://About.me/marcmillan Marc Millan

    The biggest and saddest thing about debt is that it robs you of living in peace. You don’t have to have much but our discontentment with what we have creates stress in our lives and families.
    Not only this, God desires to USE us to bless others…but how can we when we spend all we have on ourselves?
    Great post brother. PREACH.
    M_

    • http://www.jasonvana.com Jason Vana

      You hit a key point, Marc. Going in debt to buy things we want is the height of selfishness. Our money isn’t our own. We are stewards of what God has given us, and when we spend it all on ourselves, we aren’t being good stewards.

  • http://www.discipulus.us/ Moe

    When our own country is trillions of dollars in debt, that trickles down to the people. We like to live beyond our means. It’s embedded in our culture. Unfortunately many of our people live slaved to banks and creditors due to their irresponsible spending and lack of discernment. This affects the kingdom in a huge way.

    I’m working hard to eliminate debt. I just finished paying off my car (in 4 yrs instead of 5) and I’m now moving those moneys to savings on a monthly basis. This frees me to give when led to do so. Also, it makes a great “cushion” for the uncertain future.

    • http://www.jasonvana.com Jason Vana

      I was tempted to write about how ridiculously in debt we are as a country, but I feel if we as individuals stopped living in debt, we would be in a better place to demand the same from our politicians (by voting them out if they spend too much!).

      I’m with you, Moe. I’m trying to get my debt paid off. I don’t really have much – my mortgage and student loan, and because of my last job, I have about $2000 in credit card debt (first time in my life – I am NOT happy, but it was gas and food that my income couldn’t cover). If I play my cards right, I should be out of the credit card debt in about a year, if not sooner.

  • http://danblackonleadership.com/ Dan Black

    I have some debt and know it has brought stress and worry into my life. I’m working the Dave Ramsey plan to get free from debt so I can fully be walking toward my future and potential. I really like your statement in blue, wise words.

    • http://www.jasonvana.com Jason Vana

      I love the Dave Ramsey plan! When I had my last full time job, I was over-paying on my student loans and mortgage. I would have had the student loan paid off already and the 30 year mortgage would have turned into a 15 year mortgage. Unfortunately I haven’t worked full time in 4 years and had to incur some debt because I wasn’t making enough to buy food and gas, but with my new job, I should be back on track to get out of debt.

      • http://danblackonleadership.com/ Dan Black

        Glad to hear your job is going good and your able to start getting back on getting out of debt.

        • http://www.jasonvana.com Jason Vana

          Money is still tight, but when I can make payments towards my student loans and my credit card debt, I’m a happy camper!

          • http://danblackonleadership.com/ Dan Black

            I totally understand.

  • http://www.lincolnparks.com Lincoln Parks

    I am in the process of completely being debt free including student loans. Trust me its still a few long years away, but because of my mistakes I wont allow that to be my daughters. It does rob you of the opportunity to live life to the fullest for God if you are always having to look over your shoulder at that looming debt.

    Who told us to borrow money for student loans?
    Who told us to borrow money to buy a car?
    Who told us to borrow money to buy a home?

    Imagine if our parents would have been debt free, what kind of life that would have been for us? I think its time we start that debt free trend.

    • http://www.jasonvana.com Jason Vana

      That’s a great plan, Lincoln! Compared to most people, I have very little debt (mortgage, student loan and $2000 in credit card debt because I haven’t worked full time in 4 years), but even that bothers me. With my new job, I’m finally able to cover my bills and pay off my loans again. It’s a great feeling to be getting free!

  • http://www.endlessimpact.com jasonS

    It is definitely a mess. We have been working hard over the last years to get debt free. Progress can be slow at times, but we know what we’re fighting for like you said here. It’s a good word, Jason! Thank you.

    • http://www.jasonvana.com Jason Vana

      I’m in the same boat, Jason. The last few years took their toll on me financially – racked up some credit card debt for the first time in my life. But now that I’m actually making enough to cover my bills, I’m able to work towards getting out of debt. It’s a great feeling.

  • http://www.lifeofasteward.com Loren Pinilis

    I’ve been blessed to have a good financial upbringing, so I’ve never really been in too much debt – just mortgage debt. But I can see how even that can be a hindrance. My hope is to work to get that paid off ASAP.

    • http://www.jasonvana.com Jason Vana

      I had a great financial upbringing as well. If it wasn’t for my lack of a good paying job the last few years, I wouldn’t have any credit card debt. God did protect me from a lot – I only have $2000 for almost 3 years of not making enough to pay my bills (it really is a miracle). If it weren’t for that, all I would have is my mortgage and student loan – and I was overpaying on those incredibly. My 30 year mortgage was going to be paid off in 15 years before I lost my full time job. Working hard to get back to that place financially (still making less than I did when I first graduated college).