Are Credit Cards Hurting the Lord's Work?

By John Brummitt

The recession that ended almost six years ago continues to have a lasting effect on Americans’ personal finances. Many workers lost jobs during the recession. Because most were unprepared, they ended up with more debt, which continues to impact their lives. A recent study by the National Endowment for Financial Education discovered that 63% of Americans incurred a major unexpected expense in the last year. These numbers are consistent with previous surveys, and should come as no surprise. Accidents, illnesses, and lost jobs are simply part of life. The problem comes, however, when people rely on credit cards to survive a financial crisis and end up with a heavy load of debt.

How does credit card debt hurt the Lord’s work? Let’s answer this question with a question. What is the first area you cut from your budget when financial need arises? Really think about that. Many families cut the area that has the least effect on daily lifestyle. Those areas most commonly include savings, retirement, and church tithes (although not necessarily in that order).

Currently, just over 24% of the American population has more credit card debt than savings in an emergency fund. This is a frightening statistic. If 24% of church members stop giving because of financial difficulties, how does that affect church ministry?

Realistically, we know not all members tithe on their income. That is a topic for another article, but for the sake of illustration, imagine your church loses 24% due to financial difficulty. How would that play out in your local congregation? Could you keep paying church employees? Would you have enough to pay utilities? Would it affect the church’s outreach ministry? Would missionary accounts suffer? Would your church have to close its doors?

It doesn’t take long to understand how credit card debt and lack of savings can have major effects on local congregations. And it doesn’t stop at the local church. When local congregations struggle, “outside” ministries funded primarily by local churches also begin to struggle, and their ministries may have to downsize or even close. Financial hardship on a few eventually can have a major effect on the Lord’s ministry as a whole.

Sometimes we forget that our personal finances affect more than just our lives and ministry. Misuse of credit cards and failing to establish an emergency fund can have a ripple effect on everything in our lives. We also forget we are not the only ones dealing with financial challenges. A strong, personal financial outlook not only helps our congregations in their home lives, but it also impacts God’s ministries.

What could your local church congregation do if everyone gave something to help support the Lord’s work? Again, I am not necessarily talking about tithing, but giving something to further the gospel. Could you start new ministry opportunities in your local community? Could you open a soup kitchen or a free after school facility? Could you finally make needed repairs to the church facilities? Could your congregation become a brighter light in the community? Could you bring more people to the Lord?

If we are truly about the Lord’s work here on this earth, a strong personal finance plan is a must. Struggling with debt and financial setbacks are part of life, and no “magic bullet” can protect us. But with a little forethought, we can prepare ourselves to handle financial challenges when they do arise.

About the Writer: John Brummitt graduated in 2011 with an MBA from Tennessee Tech University. A 2004 graduate of Welch College, he has been with the Board of Retirement since the spring of 2006. John was recently selected by the board to replace outgoing General Director Ray Lewis.