The spiritual cost of personal debt

by Terry Van Keulen,

DCCW Community Concerns Coordinator

Council of Catholic Women members are always concerned with stewardship. We are aware that everything we have is a gift from God. That also means our talents and our ability to earn a living. The National Council of Catholic Women mission statement says that the function of the organization is to “support, empower and educate all Catholic women.” Although it's not often addressed in our organizations, that would include education in money management.

Both consumer credit and mortgage debt are at higher percentages than ever before, according to the Federal Reserve Board. The New York Times reported that the typical American household has eight credit cards with $7,500 of debt on them. Less than 25% of credit card holders pay off their monthly credit card debt in full every month according to Credit Web.com.

Debt is a money problem, but as creditors call, stress levels escalate bringing on health problems. Loss of jobs or divorce contribute to depression. Debt can make people feel isolated, alone and embarrassed.

Financial experts tell us that debt affects professional people as well as blue collar workers. These people seem to be getting younger and younger in age. Some people with good incomes just don't pay any attention to what they spend

because they have credit available. Relationships between family members deteriorate because of the stress. This makes for a spiritual problem because it's hard to pray when you're stressed out.

“Pope John Paul II, in a homily, described consumerism as a false antidote to spiritual emptiness. Christ alone can free us from what enslaves us to evil and selfishness, from the frantic search for material possessions .... from the illusion of easy success, from the frenzy of consumerism, which ultimately destroy the human being.”

Kristin Johnson Ingrain, author of Devotions for Debtors, thinks it means that we don't trust God. "If we trust God, then we don't need all that stuff." Consumerism can be an addiction and can dominate our lives.

Tom Beaudain, professor of religious studies at Santa Clara University in California, writes "The way we spend our money, is an expression of our faith. Beware of globalization and the working conditions under which goods are produced. This is part of the Christian responsibility of being part of the body of Christ. It is not wrong to have nice things, or that spending is bad, but how much you spend, depends on how much you can afford. However, if you're trying to ‘keep up with the Jones's’, then you have a problem. We should truly look at everything we have, including our income, as God's, not ours. With that attitude, comes generosity towards those in need. There is an understanding that God will provide in good times and in bad.”

This will produce a decrease in our desire to have more and more.

For more information on how to solve problems with debt, look for resources on the internet. However, be cautious about sources that offer quick fixes to money problems. Examples of reputable Web sites are www.daveramsey.com. Here, Dave Ramsey offers a free "Financial Reality Check"; www.crown. org (Crown Financial Ministries) lists many resources from an affordable vacation to reducing the cost of clutter, and www.catholiccharitiesusa.org (Catholic Charities) offers financial counseling.

(Material taken from U.S. Catholic -- Sept.2005)