World-renowned evangelist Billy Graham is warning Christians to be careful about the dangers of debt, because it can be "like a millstone around your neck."

Graham writes on his website that the Bible warns people against excessive debt, quoting the Bible verse Romans 13:8: "Let no debt remain outstanding, except the continuing debt to love one another."

People might think that debt is simply a money issue, but Graham says debt is actually a sign of a deeper problem - and that is people's desire for the things money can buy.

"The Bible has a word for this: greed. That's not a very pretty word, and we even may react against labeling ourselves as greedy," he says. "But in reality isn't that what we really are, when we desire things we can't afford or spend money on pleasures that won't last? The Bible warns, 'The greedy bring ruin to their households' (Proverbs 15:27)."

How can people cure themselves of greed? Graham says the only way to do so is to turn to Jesus Christ and make Him - not things or money - the priority in our lives. Graham assures people that once they put Christ first in their lives, their desire for things or pleasures will fade away, and their need to constantly impress others with wealth will be replaced by the need to impress Christ.

For those who are still swimming in debt, Graham also has some good advice. "Open your heart and life to Him today. Then ask God to help you deal with your debts in a practical way. Get a realistic budget, and stick to it," he urges.

"Devise a plan to pay back your debts, and if necessary cut up your credit cards or lock them away. Then set a date for paying off your debts, and every payday set aside what you'll need to reach it."