Well, if enslaving the nation to high interest and massive credit lines was not enough, now it seems we will be able to own a piece of the addiction that ensnares many Americans starting in January. MasterCard is planning on selling 61.5 million shares worth as much as 2.45 Billion dollars. So, for the first time, the people in debt will benefit by getting more people in debt. Will we see a rise in referrals for credit card? Where can the credit card industry go if it is no longer part of the banking system but publicly owned companies? Who knows. All I know is if I am paying them a bill every month, it would seem kind of stupid to then pay them more money for the privilege of earning a few bucks now and then.
All this though leads to a more important issue. What are we doing in the churches about debt? To my knowledge, over half of the people I went to college with are now severely in debt. And by severely I mean over 10K. The sad part is that this is from Bible College graduates. There seems to be no difference between the Christian and the non-Christian when it comes to debt. I know we have people like Crown Financial out there, and they do wonderful work. I even know some folks who like Dave Ramsey, though he's a bit too rude for my taste. That said, beyond that, at the local level, do we discuss money enough?
I know we all talk about how much people hate it when money comes up in the church, because it's usually the church asking for money, and people are of course loathe to part with more than they "have" to. That said, I don't think I have ever heard of anything in any church I have been a part of that dealt with wise money management, beyond being beholden to money in a sinful way.
What I am looking for I guess is a Titus 2 sort of approach. This is just another area where the older saints could really help the younger generations by teaching them the principles that have helped them avoid the pitfalls of the world's money-focus. And if you are one of the younger ones who has made the mistakes so many of us have, and you are starting to get into debt, I urge you to not fall into the trap my friends have, and to get some sound advice from those who have navigated these issues.
Lastly, one other point. So much of what is bought on credit these days, is not even that necessary. Where is our sense of anti-materialism to the extent that we advocate contentment relating to possessions? I know we preach sermons about trusting God, cause he clothes the flowers and knows when a bird dies, so He'll take care of us. But what we don't talk a lot about is how easy it is to make it without lots of "stuff". I was talking to a couple last night who are retired, have 6 TV's, all over 15 years old, most of which were gifts or bought used very cheaply, who don't have cable, a computer, internet, or even, heaven forbid, anything even close to an iPod. They are perfectly happy with how things are. They have a VCR, and record some shows, and watch what they want, and are completely content. I know other people who cannot be satisfied if they have less than 100 channels. Perhaps it is time again to renew an emphasis on some sort of modified minimalism. Maybe not to the extent of the austere and severe measures taken by some in the past (like some monasteries), but perhaps it would be good to advocate slimming things down some. Maybe then if we stop focusing on keeping up with the Jones family we'll have more opportunities to witness to them.
More on MasterCard stock issues here.
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