If We Are Running Deeply Into Debt…

There is a somewhat mundane matter which calls for comment because it concerns most of us at times, and concerns character and conscience, and certainly self-respect. We are referring to the down-drag of an overdue debt, and the self-respect of solvency. This in turn concerns some basic relationships of life.

Many marriages run into trouble because of matters of money. Many people run out on responsibilities because of matters of money. Many people avoid other people because of matters of money. Many are worried, unhappy, deeply concerned because of matters of money. Many are worried, unhappy, deeply concerned because of matters of money. And if we are running deeply into debt, unless we change direction we shall run more deeply into debt.

Good management in money matters involves thrift, working, saving; and remembering, before we promise to pay for something, that we shall do our best to see it through, and not incur a needless obligation without some reasonable assurance of being able to meet it when the debt comes due.

There is this searching question from the Master of mankind: “For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it? Lest haply, after he hath laid the foundation, and is not able to finish it, all that behold it, begin to mock him, saying, this man began to build, and was not able to finish.”¹

The money we woe represents someone else’s work, someone else’s effort, someone’s saving, someone’s giving up something he might have had. And whenever we don’t pay a debt we somehow take something from someone⎯and so should always consider the ability to pay back before borrowing. Sometimes situations appear impossible, and the law gives relief; but we shouldn’t use it lightly to escape our commitments.

We ought to keep our word, to keep our credit, to keep the confidence of others in us, to the best of our ability. Credit is a precious privilege⎯and always has to be earned.