Why we are Debt Free Catholics

Debt freedom is not a new concept, but what I don’t see others talk about is being debt free Catholics

So today, I’m cracking open the box on Catholic flavored debt freedom.

Why I’m sharing our Catholic debt freedom

I’ve hesitated to share our debt freedom with you all as it is a somewhat personal and private subject, but I also have wanted to encourage you that it is possible even on a single modest income.

Don’t think we are privileged. We aren’t.

Or rich. We aren’t.

Or from wealthy backgrounds. We aren’t

Or that we’ve side hustled our way here. We haven’t.

Instead, I want to share in hopes that that our story might inspire your own Catholic debt free journey.

What do you mean Catholic and debt free?

Have you ever noticed the only people who talk about debt freedom seem to be protestant? But why isn’t this a Catholic thing too?

I’m going to give our debt freedom a bit of a Catholic flavor as I share and I hope you can see this gift is a Catholic gift too!

What do I mean by debt free?

Debt freedom means different things to different people.

CONSUMER DEBT FREE – this means being free of credit card debt, car loans, or any borrowed money on consumable or non-appreciable goods

EVERYTHING-BUT-THE-MORTGAGE-DEBT-FREE – This means just what it says, everything but the mortgage on your live-in home is paid off.

100% DEBT FREE – You fall in this category if you have absolutely NO debt.

So which category does our family fall into? We are 100% debt free and have been for the past 4 years.

If you want the nitty gritty details of HOW we accomplished debt freedom, let me know and I’ll make another post.

Instead, I want to focus on WHY we are debt free Catholics.

Why we are debt free Catholics

#1 It’s biblical wisdom

Who said Catholics are biblical? The Bible is one of the greatest gifts the Catholic Church has given to the world!

Here are just a couple verses:

“Owe no one anything, except to love each other” Romans 13:8

“The rich rules over the poor, and the borrower is the slave of the lender.“ Proverbs 22:7

#2 It’s old-fashioned wisdom

Debt freedom is the wisdom that has been handed down for generations in both my husband and my own family.

My father-in-law told me that people used to be looked down upon who carried debt whereas now it it almost assumed you will be in debt your entire life.

#3 It’s a way we hear and heed God’s voice

Debt freedom doesn’t mean our inner ear is better tuned to God’s still small voice. Hearing that whisper is something I struggle with on a daily basis.

Instead debt freedom means we have a measure for determining if a decision is God’s will.

Here is the simple question we ask when we want to know if a purchase or decision is God’s will: “Can we afford it?”

That new family vehicle? The long dreamed for land in the country? The complete renovation of our home?

We don’t measure these decisions based on the monthly payment but on the balance in our bank account.

If we can’t afford something, it means to us that it is not currently God’s will.

#4 Extravagant generosity

Not only did our family hand on debt freedom, but they also extravagant generousity.

We’ve given away an old car that had previously been given to us, written anonymous checks, given things we would not buy for ourselves, and found other ways to give extravagantly.

I’ve learned to turn my eyes when we are being generous. Sometimes it doesn’t seem like the money will all balance out in the end. But somehow it always does.

The old saying is you can’t outdo God in generosity, and I’ve found this to be true.

#5 Detachment from worldy things

It may seem that becoming debt free on one income meant we were hyper-focused on money, and maybe we were while we focused on paying our mortgage.

But now that we are 100% debt free we aren’t quite so attached to monetary gain.

I can’t say we are completely free from worldy cares. While we could live for some amount of time without income, I wouldn’t necessarily want to go down that road!

#6 Brings peace during crisis

What is crazy about our debt journey is that we wrote our last mortgage check on our 10th anniversary, only 2 months before our son developed epilepsy.

But in the past 4 years it hasn’t just been epilepsy. Our family has had a string of MAJOR health concerns since writing that last mortgage check.

So now, instead of paying a mortgage, we max out our health care expenses every year.

BUT our debt freedom has allowed us to focus on healing instead of stressing over our finances in the midst of already very stressful crises.

We have been so grateful that we don’t have to worry about monthly debt payments in our monthly budget!