Is Debt a Moral issue? I wrote this a while ago, but, morality and debt might actually be closer related than you think. I am not talking about a prayer for debt free life.
Is debt a moral issue?
Let’s go over a few points here:
- I am not saying anyone who is in debt is of questionable morality. That would include me, or imply a “sinful living” of some kind.
- Remember Greed is one of the Seven Deadly Sins. Is gaining wealth and reducing debt immoral? If you want to think of the converse of this question, which would be, “Is Debt Reduction immoral, as it is a type of Greed”.
- Let’s stick with Morality as your “code of conduct”Â for those who question or say there is no God.
If the way you live is what is getting you into debt, then yes, Debt is a Moral issue. Your lack of control of your spending is a Moral issue for you and you need to change that pattern in your life (I won’t use the trite term Lifestyle Change for this).
If you don’t view your debt as being a problem, yet it is affecting how you live then most definitely debt is a Moral Issue, and it must be dealt with in that way, as well.
In some ways debt build up can be a sign of Greed. If you don’t worry about whether you can pay for something, you simply want it, that is a moral issue. If you are building up debt to better yourself (i.e. education) then that is not a moral issue, but if you must buy a new car every year, simply to keep up appearances, that is a moral issue.
Is there a prayer for debt free life ?