• Debt can limit our options, forcing us to work in jobs that we hate or work long hours that keep us from spending precious time with our families – “I owe, I owe, so off to work I go”.
• Strain of debt often leads to breakup of marriages – money is often cited as the #1 cause of divorce
• Because of interest compounding at high rates, we can get stuck in a spiraling debt cycle that is difficult to escape
• Debt assumes that we know what will happen tomorrow; Because there are no guarantees in life, this is a dangerous assumption.
• Debt increases our stress level, which can lead to a variety of health issues – depression, heart attacks, etc. Furthermore, the additional time spent at work can cause people to neglect their health by eating unhealthy foods and spending less time exercising
• Practices of collection agencies is borderline criminal and can lead some people to suicide (see the movie “Maxed Out”)

In later posts, we will examine debt further, including what the Bible says about debt, good debt vs. bad debt, and more.