“And you, who were dead in your trespasses and the uncircumcision of your flesh, God made alive together with him, having forgiven us all our trespasses, by canceling the record of debt that stood against us with its legal demands. This he set aside, nailing it to the cross.” Colossians 2:13-14 ESV
Reflection: what is the benefit of being debt free?
If you follow any news feed, you probably heard that the federal reserve decided to raise interest rates again. Which means it is more expensive to borrow money, to buy a house, a car or whatever large purchase we would like to make but don’t have the money to pay for it all at once. This rate increase is of course on top of very high prices for transportation, for food, for almost anything we need to live. And, interestingly, the high and increasing cost of living is not just in one country, but seems like another global issue. One could start theorizing whether this is by design?
Regardless, our societies work on certain principles, one of which is debt. Basically borrowed money. And it makes one wonder, where is all this money coming from? And the debt is not just accumulated by individuals, but also by companies, by cities, even countries. If you look further into this, the picture that starts forming is that the entire system is set up to function
“without the intent, or beyond ability, to pay it back”.
That debt becomes part of the equation, part of how we live and function, something most carry for life. Speaking of this idea of “carrying debt”, we all know that in fact debt is truly a burden. A weight. Because in it, we know we owe someone money which is typically a bank. And, if we start missing the payments to whom we owe money, we will lose the privilege of using what we borrowed money for. We may even lose our house. But what if suddenly the bank told us that someone had used all their savings to paid your debt in full? That you no longer owed anything? What a feeling of freedom that would be!
Now, in light of our focus verses today, which is perhaps one of the most profound and powerful statements in the Bible, I am sure you can see where I am going with this. Because, the debt that we each have accumulated, that is owed by each of us by our own sin, we can never repay. Even with the best of intentions, best of efforts, it is so great that we can never make up for it, nor pay it back. It separates us from God who is holy and pure. And, that without paying for this debt, we are dead because God cannot dwell with us.
Do you believe that?
It is very important that we first understand and acknowledge our own situation, without Jesus. The knowledge of truth starts with our own predicament. But, that also opens up for why Jesus came. Why that always was God’s plan. Let’s read again what Paul wrote “And you, who were dead in your trespasses and the uncircumcision of your flesh, God made alive together with him, having forgiven us all our trespasses, by canceling the record of debt that stood against us with its legal demands. This he set aside, nailing it to the cross.” Colossians 2:13-14 ESV. Our debt was paid in full. Even the record of our debt, was nailed to the cross with Christ.
Do you receive that?
There is no more debt to be collected, if you receive the payment done by Christ, receive His atonement for your sin. A few years ago, we had the opportunity to pay off all our debts, including our house. It was an amazing feeling to not have that monthly house payment hanging over us, except from taxes and insurance, of course. A different conversation. But not feeling indebted to a bank, knowing that a bank could not take our house away from us, was very freeing feeling. A very imperfect example, but I am wondering since Jesus paid it all,
Do you live like you are debt free?
The hymn called “Since Christ my soul from sin set free”, written by Charles Butler around 1900, was translated to Norwegian and became one of the most beloved hymns even to today. The refrain, translated from Norwegian back to English goes like this “Hallelujah, my soul is free! My bondage now has ceased to be! On land and sea, my case is clear; where Jesus is, I have heaven near.”
