Give, Save or Pay Off Debt?

You have an extra $10,000. What is the most spiritual decision?

A. Give the money to a charitable organization
B. Save/Invest the money for future needs
C. Pay down debt
D. Any of the above

I believe the answer is D. We should commit the matter to prayer. But you can find Scriptural support for any of these three options.

The Christian is told to give generously with a cheerful heart: "The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully. Each one must give as he has made up in his mind, not reluctantly or under compulsion, for God loves a cheerful giver," 2 Corinthians 9:6-7.

I have seen truly generous people continue to attract resources. This allows them to be even more generous. It is a spiritual law that God has set in His universe. It doesn't make sense to the rational mind. A false generosity that only gives to get may experience the rewards of "you scratch my back and I will scratch yours." But the true blessings are never fully enjoyed unless generosity comes from a heart that has been changed by Christ.

The Christian has biblical examples of why it is important to save. I read one example this morning. God instructed Joseph to tell Pharaoh to save seven years worth of grain for a famine was coming on the earth. Joseph tells his brothers, "And do not be distressed or angry with yourselves that you sold me here, for God sent me before you to preserve life. For the famine has been in the land these two years, and there are yet five years in which there will be neither plowing or harvest. And God sent me before you to preserve for you a remnant on earth, and to keep alive for you many survivors." Genesis 45:5-7.

I believe there are times when God puts the desire in our hearts to save. The reasons may not seem clear at the time. But then the economy turns down and you lose a job. A friend or family member has a crisis. A giving opportunity comes that you didn't expect. How could you help in a tangible, financial way unless you had savings?

Finally, I believe the Scriptures are clear that paying down debt is a worthwhile goal. Debt is a way of life for most American families. I carry debt on my home- although I am striving to pay it off quickly. Debt on a potentially appreciable asset can be argued for- home, business, education. But debt on depreciable assets- clothes, furniture, cars- doesn't make good financial sense. We are told by Paul, "Owe no one anything, except to love one another..." Romans 13:8.

The point is that we should not be manipulated to think that any one of the above uses of money- give, save, pay off debt- is better than another. The biblical Christian should work towards all three objectives and pray for the Spirit's leading. A commitment to strategic living that properly balances spending, giving, saving and paying off debts helps us to be in a position where God can use us for His purposes.

"A wise man saves for the future, but a foolish man spends whatever he gets," Proverbs 21:20.

For His Glory,

Ashley Hodge