Managing Debt Anxiety with Faith and Determination

Debt can weigh heavily on our minds, filling us with anxiety and robbing us of peace. This is a reality for millions, especially with the crushing burden of student loans, credit card bills, or other financial obligations. Recent studies show that over 42 million Americans hold a staggering $1.71 trillion in student loans alone. The pressures of repayment are so severe that 1 in 15 borrowers have contemplated suicide due to their financial strain.

But debt doesn’t just impact our wallets; it impacts our hearts and minds. It invades every corner of life, causing stress in relationships, hindering our ability to give generously, and making everyday struggles feel like insurmountable crises. My husband and I faced this reality when we graduated with over $154,000 in student loans. Like so many others, we found ourselves trapped in the miry depths, as Psalm 69 so eloquently describes: “Save me, O God, for the waters have come up to my neck... I am worn out calling for help.”

Every unplanned expense felt like a life-shattering emergency. Anxiety lurked behind every bill, eroding our marriage and peace of mind. But this isn't the life God wants for us. In 2 Timothy 1:7, Paul reminds us that God hasn’t given us a spirit of fear, but of power, love, and self-discipline. Through this truth, we began to see our way forward through faith and small steps of discipline.

One practical strategy that worked for us was the “snowball method,” where we focused on paying off our smallest debts first. Each small victory brought a surge of motivation and hope. Instead of feeling overwhelmed by the mountain of loans, we concentrated on what we could control, trusting God for the rest. This method, paired with disciplined living, helped us pay off over $194,000 in just six years. As Hebrews 12:11 says, “No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace.”

Scripture also speaks to financial miracles, like the widow in 2 Kings whose sons were about to be sold into slavery due to her debt. She had nothing but a jar of oil, yet God used that small resource to bless her beyond measure. Our resources may seem small time, skills, or a little extra cash but God can multiply them to meet our needs.

Living debt-free doesn’t just mean financial freedom; it’s about living without the weight of constant fear and stress. It’s the joy of being able to give generously, to plan for the future without anxiety, and to breathe deeply once again. Today, my family no longer scrambles for spare change to cover groceries. Instead, we can support ministries, plant churches, and respond to God’s call to be generous.

If you find yourself buried under debt and overwhelmed by the anxiety it brings, take heart. Start by focusing on small victories, practicing discipline, and trusting God to work miracles in your financial life. It will be hard work, but the peace and freedom you’ll experience is worth every sacrifice. God calls us not just to survive but to thrive and that includes in our finances.

There is hope for every borrower. You can be free from the anxiety of debt, one faithful step at a time.

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