Why Am I in Debt?

"Quit going into debt; have a healthy fear of debt."

- Russ Crosson

Have you ever wondered why you’re in so much debt and no matter how hard you try, you keep going in deeper? In the video, Russ Crosson, President and CEO of Ronald Blue & Co., advises on managing debt.

According to Russ Crosson, there are five main things we do with our income: Giving, Taxes, Living Expenses, Debt Payment and Savings.

A Few Points to Think About When Managing Debt:
  • Have a healthy fear of debt.

He suggests spending within your means. Overspending causes you not only to fail to save but also go deeper into debt. Most of the time, the payments we make on our credit cards go toward interest payments and not the principle.

  • Attack debt.

Aggressively paying off debt leaves you more room for saving and spending. Attack the smaller bills first and work your way up and eventually, you will be debt-free. Spend less if you can, and any extra money that comes in should go towards paying the debt off.

  • God doesn’t intend us to be in debt.

He sent His Son Jesus to pay the debt we owed Him for us. Living a debt-free life gives us much freedom and enables us to give more to those in need.

Words to Live By:

“The rich ruleth over the poor, and the borrower is servant to the lender” Proverbs 22:7 (KJV).

“Owe no man anything, but to love one another” Romans 13:11a (KJV).

“Wealth gotten by vanity shall be diminished: but he that gathereth by labor shall increase” Proverbs 13:11 (KJV).


Grace Notes by Philip Yancey

” Does God guide? Yes, I believe. Most times God guides in subtle ways, by feeding ideas into our minds, speaking through a nagging sensation of dissatisfaction, inspiring us to choose better than we otherwise would have done, bringing to the surface hidden dangers of temptation, and perhaps by rearranging certain circumstances…God’s guidance will supply real help, but in ways that will not overwhelm my freedom.”


Recommended Resources:

Celebrate Recovery



8 Important Money Decisions for Every Couple- Russ Crosson




The Truth About Money Lies- Russ Crosson


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Why Am I in Debt?