3 Biblical Principles for Debt With Sharon Epps

Proverbs 22:7 reminds us of the dangers of debt, urging us to escape its grip as soon as possible. Carrying debt limits our freedom and creates unnecessary burdens.

Practical Steps for Tackling Debt

If you’re struggling with debt, here are three actionable steps Sharon recommends:

Begin by committing your financial challenges to God. Align your heart with His will and ask for His guidance and provision.

It might seem counterintuitive to focus on debt, but it’s essential to build an emergency fund—at least $1,000. This "debt insurance" prevents you from falling back into debt when unexpected expenses arise.

Managing debt wisely is about more than just financial health; it’s about aligning our lives with God’s principles. By following biblical guidance, we can experience the freedom to live, give, and serve as God intended.

On Today’s Program, Rob Answers Listener Questions:

• I'm wondering how I can ensure I'm working with a financial advisor who is a fiduciary and puts my needs first rather than just pushing their own products and limited options.
• I have a 13-year-old son who has been making money doing yard work and lawn care. He now has over $2,000 saved and keeps asking me where he should invest this money. What would be the best place for a young teen to start investing and saving this money?
• I'm in the process of selling a half-interest in a farm that I inherited from my mother, who passed away about a year ago. I don't know how the capital gains tax works in this situation. Since the farm has been in the family for 40 years, how does that affect the capital gains tax I'll owe when I sell it?
• I drive a charter bus for a living, and I'm concerned about personal liability if I get into an accident on the job. What kind of insurance coverage should I seek to protect my assets in such a situation?

Resources Mentioned:

• Charles Schwab | Fidelity | Betterment | Acorns | Stash
• Christian Credit Counselors
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App