Giving While In Debt

[intro]Should I give even if I am in debt or should I work to get out of debt first?[/intro]

This is a question that I get from time to time.  Typically, it is from people who have decided that they need to take aggressive action to get themselves out of debt. The logic goes something like this:

1. I owe thousands of dollars to creditors
2. The larger the payment I make, the less I pay in interest
3. The larger the payment I make, the faster I will be out of debt
4. The less I pay in interest and the faster I am out of debt, the more money I will have to give

Let me say at the outset that I think it is awesome that people want to get out of debt.  The Bible doesn’t say a ton about debt, but all that it says is pretty much bad. I love what Paul says in Romans:

Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.  Romans 13:8[1]

I also generally agree with the logic detailed above.  However, I think there is an important distinction to make.  Giving is often a spiritual barometer of our values. As a friend of mine said recently, “You make time for what is important.” I think it’s the same with money: “You find money for what is important.”  Most people who give less so they can pay off debt still find enough money to eat out, entertain, buy stuff they don’t really need, etc.  That’s where the logic breaks down for me.

Because of this, I always encourage people to continue to give even while paying off debts, even if it is a small amount.  Doing this shows a commitment to place God first in every aspect of their lives.  Additionally, it helps them to create a habit of giving.  I know people who were so excited to pay off their debts that they worked at it and worked at it until they were completely debt free.  Then, instead of becoming more generous, the pendulum of their life swung the other way and they began to hoard their money and/or spend it frivolously.

Of course, this all needs to fall under the caveat that Paul gives us: