U.S. National Debt now stands at $39 trillion dollars. This is the total outstanding amount of money borrowed by the Federal government. In 2016, the debt was $26.27 trillion. In other words, the U.S. government has added $13 trillion in debt in the last 10 years[1].

To put this in perspective, it took 220 years for our country to accumulate the first $13 trillion in debt, from 1790 to 2010[2]. We’ve added that amount in just the last decade! Yikes!

Unfortunately, the government has not shown much resolve at cutting or reducing programs, so the situation seems unlikely to change without something extraordinary happening.

Our struggles with debt at the national level often reflect similar challenges many of us face in our personal finances. Non-housing consumer debt stands at $5 trillion, including $1.25 trillion in credit card debt and $1.6 trillion in auto loans.[3]

Whether as a government or as individual citizens, we seem to struggle with spending less than our income.

This is not a uniquely American problem, nor is it a uniquely modern problem. The Bible speaks to this very issue. The maxim “spend less than you earn” isn’t just common sense but is actually a biblical principle of wise stewardship.

Proverbs 21:20 says “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.”

This Proverbs speaks to the wisdom of saving some of what you have and not using everything up. Easy credit and a culture bent toward consumerism and instant gratification have enabled many to not only spend all that they earn but to actually spend more than they earn.

Knowing that many aspects of our culture are positioning us to fail should put us on our guard and we need to realize that spending less than you earn is as much a heart decision as it is a financial one.

We need to build up and strengthen the godly traits that will help us resist consumerism: namely thankfulness and contentment.

If we actively remember and give thanks to God for what we’ve already been given, we take a critical step towards godly stewardship and a step towards contentment. If we train ourselves in contentment we will be able to face good and bad financial times.

Paul shares this secret with the Philippians in chapter 4 of his letter to them:

“11 Not that I am speaking of being in need, for I have learned, in whatever situation I am, to be content. 12 I know how to be brought low, and I know how to abound. In any and every circumstance, I have learned the secret of facing plenty and hunger, abundance and need. 13 I can do all things through him who strengthens me.”

Paul also instructs Timothy in 1 Timothy 6:6-8 that:

“Godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.”

Contentment then is not our natural inclination but something we need to learn. The upshot is that learning it is a great gain to us!

On a practical note, it’s hard to know if you’re spending more than you earn if you don’t have a budget. A budget is simply a spending plan where you decide how you will allocate each dollar that comes in: spending, saving, giving, etc. It empowers you to take control of your cash flow. So if you don’t have a budget or if it’s been a while since you’ve reviewed it, that is a great first step.

Let’s work to balance our budgets and also work on our hearts to grow in thankfulness and contentment. Whether we have a lot or a little, what we have is from God and He gives us everything we need.

By God’s grace, if individual Christians can change in this area then maybe there is hope they can bring better stewardship to the national level too.

[1] https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/

[2] https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding

[3] https://www.newyorkfed.org/microeconomics/hhdc.html