We are bombarded with reasons and promotions to buy now and pay later. That's why most of us are in debt and owe money. There are always interest rates or extra costs involved. Often by the time we finish paying for something, the actual cost is far higher than we had originally thought or planned for.

Benjamin Franklin noted: "I'd rather go to bed supperless than rise in debt." Having debt is like wearing shackles. It hampers our success and our progress. There may be, however, a case for a true necessity to go into debt—like to purchase a home. We either pay rent or we pay a mortgage. It is the needless debt for things we could do without that is the danger we ought to avoid like the plague.

Paul tells us to owe no one anything (except to love one another, Romans 13:8). There is much meaning behind this advice, but it also applies in the area of finances and I.O.U.s. It is simply good advice to beware of debt and concentrate on being debt-free. Remember that a man is a slave to the degree in which he is in debt.