As of February, 2013, the average credit card debt for Americans who carry a monthly balance was a whopping $15,257. This staggeringly high number means that many Americans have a big problem with debt.
And the Bible says that debt is a very bad problem to have.
That fifteen grand is just credit card debt, though. Additionally, the typical mortgage for families is $149,782. Throw in an average student loan debt of $34,703 and it’s easy to see why American consumers are $11.31 trillion in debt!
Americans are almost as indebted as their government….
Granted, a few Americans are trapped in debt because of devastating illnesses or other unforeseen, costly emergencies. But the overwhelming majority of Americans are in debt because of their misuse of a few pieces of plastic known as MasterCard, Discover, American Express, and Visa. Too many have swiped themselves into slavery.
Don’t you mean debt?
No, slavery is the right word…and it happens to be the biblical word, too. Proverbs 22:7 provides some unsettling insight on the issue of debt.
The rich rules over the poor, and the borrower is the slave of the lender.
That’s a haunting reality for too many Americans. Unfortunately, the price they pay isn’t just in interest, but in their joy and their peace, as well.
Click here for the online report.
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(Resource cataloged by David R Smith)