“I, wisdom, dwell together with prudence; I possess knowledge and discretion. Proverbs 8:12
“A man who owes a little debt can clear it off in a very little time, and if he is a prudent man will; whereas a man who by long negligence owes a great deal, despairs of ever being able to pay, and therefore never looks into his accounts at all.”
Lord Philip Dormer Stanhope Chesterfield (1694-1773) the 4th Earl of Chesterfield in Day’s Collacon, compiled and arranged by Edward Parsons Day (New York: IPPO, 1884) 166.
Lord Chesterfield describes aptly both sides of the proverbial debt coin: prudence and long negligence, also known as procrastination. Notice that the prudent clear off debt, whereas the procrastinator is swallowed by the sense of despair.
Our daughter, Sophie, has helped a few fellow college students assess their financial position and get out of debt. She’s also seen others ignore their situation and allow it to sink their lives. Perhaps you know someone who struggles with despair associated with debt?
Such people might drop out of school or drift into other sinful habits to try to drown out the despair. Sophie has learned that having a regular coffee with a debt-ridden soul, listening to them, encouraging them, and providing some accountability can make a big difference.
On a Starbucks napkin she has taught fellow students to put their income in one column and expenses in another column and make sure their cashflow remains positive. In plain terms, she says to spend less than you make, so you remain free to live, give, serve, and love like Jesus.
For those who struggle with debt, our greatest act of generosity may be to help them understand their situation and point the way out of it. That can be as easy as buying them coffee and showing them graciously how to make money their slave rather than being enslaved to money.