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Mistakes That Lead to Debt

Is your debt overwhelming? Many don’t realize just how bad their problem is until they’re drowning! So what causes debt in the first place?

One of the biggest causes of debt is the lack of thorough planning. Ignorance and indulgence amplify the issue. This means you are either stumbling through the dark not knowing where all the money is going every month or your spending is out of control. A written budget that balances income and expenses every month is essential.

Sadly, another cause of debt is falling for “get rich quick” schemes. Buying lottery tickets is not an investment! Betting on fantasy football is a bad idea! People often risk borrowed money, and usually end up losing it all. Not only is it unwise and dangerous, the Bible warns against it. Christians are particularly vulnerable, because they want to trust others. Stay with what you know and don’t invest in anything without doing your homework. It’s always best to. Wait at least one full day and pray earnestly before making a financial decision.

And one of the biggest of all, debt can be caused by having an expensive lifestyle . This could mean buying a home you can’t afford, purchasing new cars, or failing to plan for expenses like car maintenance, home repairs, and any emergencies. Remember this simple little saying: If your outgo exceeds your income, your upkeep will be your downfall.

That’s why God tells us to have a plan. Proverbs 21 says,

The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty…. The wise man saves for the future, but the foolish man spends whatever he gets.

So if you need a plan to get out of credit card debt, get in touch with Christian Credit Counselors. They have a wonderful team that can help you get started today. Learn more at