Get Free From Debt
To get free from debt:
(1) Write down your financial goals. Decide what’s truly important—how much you’ll save, how much you’ll spend, and how much debt you can handle without jeopardising your future. One reason we never reach our goals is because we don’t set any. You must know where you’re going and how to get there.
(2) Start small. Tackle one bill at a time. It’s amazing what you accomplish when you’re serious and stick with it. The Bible says, ‘At the proper time we will reap a harvest if we do not give up.’ (Galatians 6:9 NIV)
(3) Don’t buy things you haven’t saved for. Borrowing money (even so-called ‘interest free’ deals) always come with fees and they add to your burden. When you borrow, your intentions may be good, but unforeseen circumstances can pop up meaning you need to extend the length of your loan, putting your further into debt. And it might be a good idea to stay away from any credit cards—they are a debt magnet!
(4) Give. This may sound foolish and counter-intuitive when you’re in debt. But Jesus said: ‘Your gift will return to you in full—pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.’ (Luke 6:38 NLT)
(5) Expect disapproval. When you begin to practise financial discipline, some people may not be too happy, especially if it affects them personally. But if you only do things in life that nobody can find fault with, you’ll never accomplish much. Starting today, God wants you to be free from debt—and stay free (see John 8:36).