Personal
Finance Workbook
The
Debt Trap
For most people, debt is a way of life. From the time we’re old enough to
get our first credit card to the day we die, most of us are in debt. There
are two preconceived notions that Christians have about debt:
1) Debt is not a sin
2) Debt is never the real
problem
What is debt? A simple
definition is: Any money that is owed to anyone for anything. That covers
a great many types of debt including credit cards, consumer debt, mortgages,
investment debt, and business debt.
How harmful is debt? Take
a look at the following charts and decide for yourself.
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