114. Debt: The Dirty Word That Impacts Your Peace and Purpose

In this episode of Wisdom's Table, I dive deep into a topic that many of us may shy away from discussing: debt. Often viewed as a dirty word, debt is something that can significantly impact not just our finances, but our freedom, peace, and ability to fulfill God's assignments in our lives. I aim to shed light on what the Bible truly says about debt, emphasizing that it is more than just a financial issue; it is a spiritual one as well. We start by acknowledging that not all debt is created equal, but all debt requires discernment. I explain how debt, in biblical terms, is essentially borrowing from tomorrow's resources to pay for yesterday's expenses, which can lead us out of alignment with God's provision. Drawing from scripture, I highlight the biblical perspective that encourages us to be lenders rather than borrowers, and I share insights from my Money Mandate e-course, where we explore the implications of debt in greater detail. Want to access the full Money Mandate e-course? It is available inside my KINGDOM LEADERS COMMUNITY. (click here)   00:00:00 - Welcome to Wisdom's Table Introduction to the podcast and its purpose. 00:00:25 - Podcast Refresh and Growth Discussion about new podcast art and the desire to grow the podcast's reach. 00:01:07 - The Dirty Word: Debt Introduction to the topic of debt and its implications in the Christian life. 00:01:38 - Understanding Debt in the Bible Exploration of what the Bible says about debt and its different forms. 00:02:52 - Comfort with Debt How family money stories influence our comfort level with debt. 00:04:27 - The Why Behind Borrowing Emphasis on understanding the reasons for borrowing rather than just the act itself. 00:05:48 - Good Debt vs. Bad Debt Explanation of the differences between beneficial and harmful types of debt. 00:07:57 - The Cost of Debt Importance of understanding what debt is costing you beyond monthly payments. 00:08:18 - Breaking the Cycle of Debt Discussion on the need for more than budgeting to get out of debt. 00:09:41 - The Burden of Student Debt A rant on the challenges posed by student loans in America. 00:10:52 - Codependency on Debt Exploration of how some individuals become reliant on debt. 00:12:10 - Partnering with God to Pay Off Debt Encouragement to seek God's guidance in managing and paying off debt. 00:13:45 - Steps to Pay Off Debt Introduction to practical steps for addressing debt. 00:14:06 - Step 1: Understand Your Debt Costs The first step in managing debt is to know its true cost. 00:14:59 - Step 2: Repent if Necessary The importance of repentance in the context of debt. 00:15:51 - Step 3: Align with God's System Deciding how to align your financial practices with God's principles. 00:16:32 - Step 4: Present Your Plan to the Lord Encouragement to bring your financial plans and debts to God. 00:18:06 - Step 5: Obey God's Guidance The necessity of following through on God's instructions regarding debt. 00:19:23 - Personal Story of Debt Rachel shares a personal experience related to credit card debt. 00:22:05 - Conclusion and Next Episode Preview Wrap-up of the episode and a teaser for the next topic on investing. 00:23:28 - Join the Kingdom Leaders Community Invitation to join the community for support in breaking free from debt.   Not ready to say goodbye? Grab the link you need below: Kingdom Leaders Community Get on my email list Find me on Instagram THE MONEY MANDATE BOOK THE EXPANSION MANDATE BOOK