If only the effects of credit card debt occurred in a vacuum. But this is not the case. The effects of credit card debt are not limited to a husband and wife. The entire household feels it. The high interest payments can create stress for everyone, including the kids. The kids of debt-ridden parents can feel like kids of debt-ridden parents. And whether or not they are able to articulate their desire, they want you to get out of debt.
Here are six reasons why your kids want you to get rid of your credit card debt:
- Because they don’t like to see their mom and dad fight so much. Financial stress creates tension between husband and wife. Small disagreements can quickly be blown out of proportion. And, unfortunately, the kids often get a front row seat to the action.
- Because they hate being one unexpected expense away from dramatic life changes. They hear you talk about being on the verge of collapse. And this scares them. Kids like stability. They need stability. They hate the thought of a dramatic change created by debt.
- Because they are tired of being stressed. It is not just the parents who feel the burden of credit card debt. They feel it as well. Your concern concerns them. Your stress becomes their stress.
- Because stuff was never what they wanted most anyway. That which is most important to kids cannot be bought. They like the big house, but they would trade it for a dad who doesn’t snap so often. They like the nice car, but they would trade it for a mom who laughs. The stuff surrounding them means little compared to what the debt has taken away from them.
- Because they can’t see your generosity. Every extra dollar must go toward paying a high interest debt. So they don’t see you giving to others. They don’t see your generosity because it doesn’t exist.
- Because it is a symptom of a larger problem. Often, credit card debt is the consequence, not the beginning, of an issue. It may be the result of trying to keep up with the Joneses. It may result from attempting to achieve life satisfaction through stuff. It may be the result of an addiction. Or it may simply be the result of a lack of discipline and planning. And more than likely, the consequences of this issue find itself in other areas beyond the bank account.
Credit card debt is a challenge for any person’s financial and personal well-being. And if you are a parent, the effect of credit card debt may not be limited to you and your spouse. Credit card debt is not just a financial issue, but a family issue. The consequences can be felt by all of those in your household, including your kids. For your family’s sake, let’s get serious about paying down credit card debt today.
Written by Art Rainer, member of the Summit Stewardship and Generosity Ministry Leadership Team.
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