Captive

The rich rule over the poor, and the borrower is slave to the lender (Proverbs 22:7)

My friend, Travis, takes his faith and his money very seriously. He knows that everything belongs to Jesus. He has been a faithful steward of what has been given to him. 

His job at the local pharmaceutical company has provided for his family well over the years. His high income has allowed him to well exceed his tithe, save for retirement, and provide for his kids’ education.

Now his kids are out of the house and Travis is ready to focus on new passions. His work used to be fun, but now it is mired in red tape. He works long days and feels the constant pressure that can sometimes come along with any great career.

Sadly, no longer does Travis enjoy going to work. He’s begun to feel like he is just a cog in the system. Something must change. He cannot imagine working a few more years, let alone another decade or more until he feels like he can scale back. 

Travis is being called for something that will give him more fulfillment. He is not sure what that is yet, but he is confident that this next leg of his journey is not with his current employer.

Many times in the last few decades, advisers encouraged Travis to keep his mortgage debt because the rate was so low and because he could deduct the interest from his taxes. The “math” tells him to take out a 30-year mortgage and pay only the minimum payment.  

But the “math” did not account for the possibility that he may be called to something greater: A new career that will pay him less and give him more. This large mortgage is leaving him feeling captive to the bank and he cannot touch his retirement funds without penalty for several years. 

Travis actually wants a more fulfilling career that might pay less money. But the bank doesn’t care about that. The bank just wants to get paid every month. 

Some experts will tell you that debt is good and you should leverage it to increase your wealth. But is increasing wealth the primary goal?

Don’t be captive to the bank. When you run your math, make sure you include the cost of the lack of freedom that you will have by maintaining the debt. 

Lord Jesus, help me use debt the right way that is pleasing to You. Give me wisdom to know when debt is worthwhile and when it is bad.