IS IT A SIN TO BE IN DEBT?

I have never heard a question about debt asked in a worthiness interview, and certainly this article is in no position to declare what is and what is not a sin.* But excessive debt and sin have a lot of similarities.

[Note: There are some good reasons for wise borrowing. Few of us would own a home without taking out a mortgage, for example. This article is aimed at the unwise borrowing that has reached epidemic proportions in the country and among Church members.]

WHETHER IT IS A SIN OR NOT, DEBT IS A PROBLEM IN THE CHURCH

The debt issue is not one that just affects non-members. There is evidence this problem is actually more serious among Church members than in the world at large!

The most depressing article I have ever read in the LDS Church News appeared August 3, 2002 written by Shaun D. Stahle. The headline was Irony of Leading Nation in Bankruptcy Filings. The article contained the following paragraph.

“Many Americans and members of the Church are drowning in a sea of debt. Roughly one home in 34.5 [in Utah] will file for bankruptcy this year, making Utah the insolvency capital of the nation. Nationally, one in 69 homes will file."

I must confess I truly can not understand exactly why Latter-day Saints are more likely (let alone twice as likely) to file bankruptcy than the Nation as a whole.

HAVE WE BEEN COMMANDED BY GOD TO Avoid EXCESSIVE DEBT?

God’s commandments are given to us through prophets. Prophets also give us general counsel. Not all of this counsel may be recognized as canonized commandments, the breaking of which could jeopardize our standing in the Church. However, each of us should ask how often we must hear the same counsel over and over before we should recognize it as a commandment? Shouldn’t we personally recognize it as a commandment even if it is not a question asked by priesthood leaders in a worthiness interview?

Modern prophets and apostles have repeatedly counseled members of the Church to avoid excessive debt. I do not have any statistics suggesting that the frequency of such counsel is increasing, but it is certain that President Hinckley has been clear and emphatic about warning Latter-day Saints to avoid excessive debt.

FAILURE TO LOOK AT THE LONG-TERM CONSEQUENCES

A characteristic of sin is the temptation to participate in some activity right now. The emotion of the moment causes us to ignore the long-term consequences. The immediate activity may be fun. But the long-term consequences may include lost freedom, stressed and injured relationships, anxiety and misery to name just a few.

Piling up debt is the same thing. We see something we want right now. The emotion of the moment causes us to ignore the long-term consequences. Having what we want to buy right now may be fun. But the long-term consequences will reduce our future financial freedom, it may stress and injure valued relationships, it can cause anxiety and misery, to name just a few.

BUY NOW – PAY LATER

“Buy now – pay later” is such an accepted notion in society that finance companies and retailers use it as an advertising slogan. That advertising slogan is supposed to convince people they should not wait to purchase the things they want. Unfortunately, it has worked! One of the characteristics of modern American culture is an idea that we should have whatever we want and have it right now. The idea of denying ourselves for the moment and actually working for what we want seems somehow old fashioned. In fact, another advertising slogan I have heard in recent years says something like, “Get the credit you deserve.” Or “Get the [product] you deserve with no payments until next year.” Deserve!? What does that mean? “You deserve.” Why do you or I deserve anything we haven’t worked for?

“Buy now – pay later” is not a new concept and it is not exclusive to debt. Sinners have been using this concept in one form or another for thousands of years.

And there shall also be many which shall say: Eat, drink, and be merry; nevertheless, fear God--he will justify in committing a little sin; yea, lie a little, take advantage of one because of his words, dig a pit for thy neighbor; there is no harm in this; and do all these things, for tomorrow we die; and if it so be that we are guilty, God will beat us with a few stripes, and at last we shall be saved in the kingdom of God.

2 Nephi 28:8 [Between 559 and 545 B.C.]

SMALL BEGINNINGS BECOME BINDING HABITS

No one starts with a huge life altering sin. It always starts small. For example, no drug addict started by main lining heroine. The drug addiction started with something small like an innocent sip of beer. No convicted bank robber began by holding up a bank. It started with something small like stealing lunch money at school.

It starts small. It is fun and exciting. In the early stages the pattern can be easily reversed and the activity forgotten. But soon the pattern of sin takes on a momentum of its own. The person loses control. In fact, frequently the sin becomes such a habit it requires more transgression just to support the habit.

Using debt to live beyond our means follows the exact same pattern. The first time a person uses their new credit card to buy gas does not constitute a financial crisis. Even the first time some less-than-necessary-indulgence is purchased with borrowed money does not doom the individual to a lifetime of financial self-destruction. But, for many, borrowing does become a habit. Soon more credit is necessary to support the debt that already exists. For example, if a person is making mortgage payments, car payments, entertainment center payments and credit card payments, the personal cash flow is so restricted that when a real need develops, such as an illness, the person has no choice but to plunge further into debt.

PUTTING YOURSELF AT RISK

When a person commits sin, they put themselves at risk for the pleasure of the moment. Violations of morality can destroy marriages and health. Violations of honesty can lead to loss of trust and freedom. Violations of health laws can lead to addictions and illness. There is no violation of God’s commandments that does not put the sinner at physical and emotional risk. And that is just measuring the effects that will occur in mortality.

When a person plunges into debt unwisely, they put themselves at risk for the pleasure of the moment. Excessive debt can injure just about every part of a person’s life. Many marriages have been ruined because of financial strains. Financial stress can destroy a person’s physical and emotional health. People who have heavy debts can be lead into dishonesty, gambling and addictions. Even a person’s spirituality can be affected in many ways. For example, there is a correlation between people who have excessive debts and people who quit paying tithing. (Although that is exactly the wrong thing to do.) And that is just measuring the effects that will occur in mortality. I do not know what the effects of excessive debts are in the life after. Presumably, since we can not take the toys we bought with the credit cards with us, we can’t take the debts either. But leaving your loved ones with your financial mess when you die is probably not a good way to enter the spirit world.

SIN AND EXCESSIVE BORROWING HAVE A LOT IN COMMON

Temptation to do or acquire something that will be fun for the moment.
Lack of discipline and self-control to say “No!
Future regret and enslavement.
Often a long and painful period as a direct result of giving into the temptation.

THE REPENTANCE OR RECOVERY PROCESSES ARE ALSO SIMILAR

· Recognition. Whether a sinful habit, or a borrowing habit, we must first recognize it for what it is and admit to ourselves that we must change.

· Confession. Sin must be confessed to the Lord at a minimum. For more serious sins, we must confess to those we have injured and to priesthood authorities. Confession is a more important step than we often believe. Not only does it take great humility, which is tangible proof of recognition, but it brings others who can help us into the equation. We probably need confession of our borrowing transgressions too. It never hurts to go to the Lord, of course. But in cases of severe debt we may need to go to a lot of other people too. We may need to seek the help of a credit counselor. We may need to go to the institutions from whom we have borrowed and basically confess that we have been out of control and seek to work with them more responsibly in the future. Frequently, people have a difficult time ending sinful patterns because they believe they can handle it themselves. Frequently, people have a difficult time ending unwise borrowing patterns because they believe they can handle it by themselves.

· Restitution. When we are guilty of sin we must make every effort to restore to those we have injured. With excessive borrowing we need to repay, with interest, what we have borrowed. Filing bankruptcy may be legal but it rarely satisfies the spiritual requirements for restitution.

· Refrain. This is a matter of self-control whether the issue is a sinful practice or a borrowing practice. We can help ourselves by eliminating the sources of temptation in our lives. Alcoholics should avoid meeting friends in bars. Creditoholics should cut up their credit cards.

In many ways the results of this repentance process have the same wonderful effect. We have all known people (including ourselves) who have successfully repented of some serious transgression. The peace and joy that follows is wonderful. A person freeing themselves of excessive debt also experiences a peace and joy that is wonderful. If the wages of sin is [spiritual] death, then the wages of debt is financial death.

*Missionaries must be free of debt before they leave for their missions and the Brethren want to know that people that are called to substantial leadership positions are individuals of good character and high financial integrity.

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