I haven’t blogged at all about the current global financial crisis. I do feel sorry for those who’ve lost much of their life savings as a result of this crisis. What’s worse, many of those who lost money were victims of the poor judgment and immoral actions of others.
I will say that I think there are a lot of lessons to be learned from this crisis, but I don’t have the time or the expertise to even begin to address most of them. So I’ll confine my comments to one simple principle. It’s this. It is in the best interest of individuals, as well as nations, to drastically reduce debt, with the goal of completely eliminating it.
That, of course, is easier said than done. Jim Elliff has written a good article outlining the biblical principles of debt-free living, and his website strongly recommends it in light of the current financial crisis.
In the light of the recent bad news economically, we felt Jim’s article on debt would be important to make available. Please give this to friends and family, classes and church members. (Here’s the article.)
The principles are fairly simple. In fact, the crew of Saturday Night Live succinctly distilled them down to just one: Don’t Buy Stuff.
(HT Renee Ann)