debt?

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It’s something to avoid or to escape from as soon as possible.
Proverbs 22:7 “The rich rules over the poor, and the borrower is servant to the lender.”
For anyone wanting to get out of debt, I recommend Dave Ramsey’s book The Total Money Makeover.
There are a lot of other good books out there too. Main ideas: get a small cushion for emergencies, cut up the credit cards, then live frugally until you pay off all debt.
 
Sometimes debt is impossible to avoid especially if you’re poor to begin with or have a car. :rolleyes:
 
there is no moral prohibition in encountering debt for a necessary purpose–car for transport to your job, education, home etc.-- if your income can support it, if that is what you are asking.
 
Sierrah said:
Sometimes debt is impossible to avoid especially if you’re poor to begin with or have a car. :rolleyes:
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True. I guess in today’s world, the Christian viewpoint would be “don’t take on debt that you haven’t a hope of paying back”.
 
I don’t have debt. No CC, no car payment and I am currently renting an apt while I save money. It’s just this bail out proposal in congress got me wondering about the Catholic view point.

Oh, and I know Dave Ramsey’s philosphy very well. I listen to him every day on the local AM station.
 
It’s the only way I can get through college. However, I’m very careful about it. I only have government loans, almost all subsidized. I’m paying interest on the unsubsidized loan to prevent it from compounding. Also, as I will be teaching in a high needs field I’ll have the chance of getting 1/4-1/2 of my loans payed off after five years of teaching. I see no problem with loans, as long as one is very prudent about them.
 
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