If you believe in sin – either against God, Self, a Higher Power or Humanity – then read this article to see if any of the “Debtly Sins” resonates with you. Next, save ALL your receipts for a week. After saving your receipts, set aside 30 minutes for quiet self reflection and analyze each purchase through the lens of the Seven Debtly Sins.

Regardless of your religious affiliations, the Seven Deadly Sins, as viewed through your spending decisions, have a great deal to teach about living happily and reaching your fullest potential as a human being. They may even be digging you deeper into unwanted, destructive debt.

• 1st Debtly Sin ==>> Pride
• 2nd Debtly Sin ==>> Wrath
• 3rd Debtly Sin ==>> Sloth
• 4th Debtly Sin ==>> Greed
• 5th Debtly Sin ==>> Lust
• 6th Debtly Sin ==>> Gluttony
• 7th Debtly Sin ==>> Envy

1st Debtly Sin ==>> Pride

Pride, considered the deadliest of sins, is the desire to be perceived as more important or attractive than others. It also occurs at the unacknowledged, unrecognized and *unfounded* belief that you are better than others, making this a very tricky sin to determine on your own.

What pride-driven spending looks like:

• Spending to “BE the Joneses,” the ones that everyone else tries to keep up with.
• Spending that puts your WANTS before the needs of your household or your own longterm financial freedom.
• Failure to recognize how your psychological need to be most important or most attractive drives your spending.
• Spending – to the point of destructive debt – to acquire “flauntable” houses, cars, clothing and other lifestyle indicators.
• Confusing self-love with self-spending.

Penance: Cultivate the Virtue of Humility

Humility is the practice of being humble – that is, modest and self-abasing. Do be cautious of taking humility too far though. Here are some ways to develop your humility, which will in turn help you change your pride-driven spending habits.

• Compliment others for virtues and talents that surpass your own.
• Focus on and discuss the virtues and talents of others rather than their possessions.
• Spend less than you earn.

2nd Debtly Sin ==>> Wrath

Wrath is the harboring of anger, hatred and resentment towards others, towards institutions and towards yourself. When pointed outwards, wrath can drive people towards reckless revenge. When wrath is pointed inwards towards your self it can drive you towards self loathing and even suicide.

Here’s what wrath-driven spending looks like:

• Making purchases to prove a point or win an argument.
• Making purchases that result in resentment, either towards yourself or towards the recipient of those purchases.
• Spending heavily on a rage-driven lawsuit.
• Spending on addictions that distract you from your self-loathing.
• Going shopping to “cool off” when you’re feeling angry.

Penance: Cultivate the Virtue of Patience
Patience is the ability to endure difficult, anger-provoking situations that show no signs of stopping. It’s also the ability to express your anger and frustration in non-destructive ways. Here are some ways to develop your patience, which should help you reduce your wrath-driven spending.

• Decide to endure and manage your own anger, without the help of purchases.
• Decide to endure strain and provocation rather than lash out with non-constructive anger.
• Determine what it will take for you to forgive – yourself or others – completely and move forward.

3rd Debtly Sin ==>> Sloth

Sloth is the decision to be lazy and indifferent to your circumstances, despite having talents and gifts that could help you improve your life. Often you will find slothful people likely to complain but not to act.

Here’s what sloth-driven spending looks like:

• Consolidating debt only to maintain spending habits.
• Indifference to debt, and what it means to your future financial circumstances.
• Avoiding simple tasks by consistently spending money on eating out, dry cleaning, yard work, simple repairs, etcetera.
• Education debt incurred to avoid joining the work force.

Penance: Cultivate Diligence and Zeal
Diligence exhibits itself in your work ethic, how you budget your time and how well you self-monitor for laziness and working to the best of your abilities. You will find that increasing your diligence in one area of life will have a bountiful cascading affect on other areas. Here are some suggestions for addressing sloth (which can in turn increase your earning potential…).

• Personally accept the responsibility for your own boredom – in all aspects of your life.
• Continually monitor your actions to make sure you’re using your time effectively
• Remember to relax and “recreate” too! If you’re not making time for yourself, you will “steal” this time from tasks that need your full concentration.

4th Debtly Sin ==>> Greed

Greed is the consuming desire for wealth, status and power. Pursuing wealth at the expense of the ones you love can leave you emotionally, and even financially bankrupt.

Here’s what greed-driven spending looks like:

• Spending on any get-rich-quick schemes, books, website systems, ebooks, etcetera.
• Investing money in things you believe will lead to wealth and status, but not investing your effort.
• Consistently buying books about starting businesses and making money but never reading them.
• Making guilt-driven purchases that you hope will make up for your absence from your loved-ones lives.
• Confusing income with financial freedom; confusing financial freedom with happiness.

Penance: Cultivate Charity and Generosity
Charity and generosity exhibit themselves through the act of donating money, time or goods to people in need. For the greedy, charity work or donations will feel like “pulling teeth” at first. Here are some ways to grow your spirit of charity, and reduce your greed-driven spending.

• Look beyond your own pursuits and contribute to something you believe in, that’s beyond yourself.
• Reflect on what makes you genuinely happy.
• Put non-retirement, “get-rich-quick” expenses aside for charity.

5th Debtly Sin ==>> Lust

Though the word lust is most-often associated with sex, the sin itself has a broader meaning. Lust is the excessive, destructive pursuit of the love of others, whether platonic, familial or sexual.

What lust-driven spending looks like:

• Spending on gifts intended to buy the love of family and friends.
• Spending on gifts intended to earn affection within a relationship.
• Spending on items for yourself intended to earn love or acceptance of others.
• Secret spending on “adult entertainment.”

Penance: Cultivate Chastity and Self Control
Chastity is the pursuit of mental and moral purity. This will require ongoing meditations on all forms of love, and within all of your relationships. …Especially those that involve spending money. Here are some thoughts on growing your chastity and self control.

• Devote yourself to learning how your family and friends *receive* love – what is meaningful to them?
• Learn how YOU receive love, and learn how to ask for it from others.
• If you suspect you are addicted to an “adult behavior,” seek professional help immediately.

6th Debtly Sin ==>> Gluttony

Gluttony is the over-indulgence and over-consumption of ANYTHING to the point of waste. This includes any resource, from water to food to electricity.

Here’s what gluttony-driven spending looks like:

• Any spending decision that, in hindsight, makes you feel sick with yourself.
• Buying too much of anything and having it go to waste – food, heat, water, etcetera.
• Spending on things that make you feel “insulated” from the world, your own anguish, or the opinions of others.

Penance: Cultivate Temperance
Control your desires. Identify areas of waste in your budget. Financial gluttony takes many forms, but it’s always fueled by a willful ignorance of wasteful behavior.

• Restrain yourself. Decide to control yourself, know why you control yourself, and DO IT.
• Eat leftovers, insulate your home, turn the heat down, take shorter showers
• Mediate on your need to overindulge – is there something else you’ve been denying yourself?

7th Debtly Sin ==>> Envy

Envy is the resentful wish – spoken or unspoken – to deprive others of things you desire. It’s also described as the “sorrow for another’s good.” This same resentment of what others have can lead to destructive debt.

Here’s what envy-driven spending looks like:

• Buying things based on what others have, regardless of quality, your personal tastes or if you can afford it.
• Shopping binges started with feelings of anger and resentment at others for what they own.
• Decision to NOT spend money or time on gifts for family members you resent.
• Insatiable spending on items you resent others for having.

Penance: Cultivate Kindness
To reduce your envious behaviors, be nicer to people in your words, thoughts and deeds. Start with the people you love the most and work out from there. Here are some ways to start exercising your kindness.

• All that resentment takes its toll on you – reconnect with yourself by doing an activity you love.
• Volunteer your time at a charity you’re passionate about.
• Call someone you’ve been resentful towards and ask how their day is going.
• Call someone you love and ask how their day is going.
• Decide to give the gift of joy to someone random, once a day.
• Say nice things instead of buying nice things.

Others who have meditated on the connection between the seven deadly sins and personal finance:

• The 7 Deadly Sins of Personal Finance
• The 7 Deadly Sins of Personal Finance
• The 7 Deadly Sins of Personal Finance
• The 7 Deadly Sins of Personal Finance
• The Seven Deadly Sins That Lead to Debt
• The Seven Sins of Personal Finance Part 1
• The Seven Sins of Personal Finance Part 2
• 7 Deadly Sins of Personal Finance
• 7 deadly sins of personal finance
• The seven deadly sins of debt
• The seven deadly sins of consumerism (and the frugal redemption)
• Are You Guilty of These 10 Frugal Sins?
• 7 Debtly Sins
• “Debtly Sins” Undermine Marriage
• The 5 “Debtly Sins”
• My Ten Commandments of Personal Finance