Studies show that people spend more when they use credit cards, and they often don’t understand the true cost of using credit. In the U.S., the average American spends $2 interest and fees for every dollar charged on credit. Over half of Canadians who are more than $10,000 in debt have more than four credit cards.

Across North America, household debt has been growing much faster than incomes for several decades. Disagreements over use of money and debt are a major contributor to marriage breakdowns. And when debt becomes overwhelming, the effects are huge. Following bankruptcy, families disintegrate, self-confidence is shattered, depression sets in, and one’s community—even the church—withdraws. This pamphlet describes the signs of overwhelming debt, provides a biblical reflection on debt and shows steps towards wholeness.

Close to Home pamphlets help Christian caregivers support those dealing with difficult personal issues, and to lead them on a path to wholeness. Read more about this series.