Owing money to your family, friends
and financial institutions can keep you from reaching your highest potential.
Many today are facing their financial mountain with no practical information to
eliminate debt.
While I’m not a financial advisor, we
can learn certain principles from the Bible that will help us eliminate our
debt in due time. There are things you can do to put things in motion that will
allow you to be debt free sooner than you think. Let’s talk about paying off our
debt.
Be
hopeful. If you are so drowned in debt that
you can’t see the daylight, it’s time to find some hope. Be encouraged. There’s
light at the end of the tunnel. You can overcome any financial mountain. Don’t
just believe in your own strength, hope in God. It doesn’t matter how you got
into this mess, the good news is God is here to get you out.
Put
your debt on paper. It’s hard to
imagine the magnitude of our debt in plastic. Confront your fear and then
overcome it. When you put down your debt in paper, it helps you to see the big
picture. Itemize every debt line by line. For example, Visa Card $2100, Sears
$821, House $150,000, car $12,000. Writing them down will give you a reality
check of your total debt. When you write down your debt, you’re ready to create
an action plan and eliminate them.
Be
disciplined. This is one of the main causes
of debt. When we’re living without boundaries, we’re inviting troubles into our
lives. One of the greatest strength you can have is to have financial
discipline. Just like our emotions, we cannot afford to react to every financial
spending that looks attractive. Trust me, the opportunity of a life time will
come again. Not every sale that’s out there is for you and me. If you learn to
say no now, you’ll enjoy life later.
Pay
bills on time – every time. It’s amazing
to me how many people do not pay their bills on time. We’re so quick to point
our fingers at Washington but personal responsibility begins at home. I’m
saying it with a smile! Put your bills on auto pay. Having bills paid online is
another smart way to eliminate debt. First pay off your high interest rate
debts. Don’t forget to check your monthly statements. Companies make mistakes! Another
good habit of paying bills is to have bi-monthly dates on your calendar to write
your checks at one time.
Live
within your means. The scripture
teaches us to be content with what we have. This is not to say you can’t desire
for more but if you have 10 don’t spend 12. Life usually has a way of getting
worse before it gets better. Say with me, “I
can’t afford this right now.” See, it’s not too difficult. Learn to say no
to your flesh and God will make you ruler over much.
Develop
a Joseph plan. Before the famine hit in
Egypt, Joseph charged the whole nation to save 20% of the grain. Today, we call
it the emergency fund. If you put 10% or 20% from money that comes into your
hand, you’ll have plenty to pay off your mountain of debt. Putting a little
aside every month will bring your stress down immensely and give you hope.
Believe
God for supernatural provision. You must do
your part. You can’t pray every problem away. You have to develop some
character. However, after you’ve done everything you can, ask God BOLDLY for
His supernatural provision. I have a friend whose 1.2 million dollars hospital
bill was forgiven. Yes, our God is still Jehovah Jireh – God our Provider! He
loves you greatly. He is with you and He is for you. There is ALWAYS hope in
our God. You can eliminate EVERY high mountain of debt. I declare you to be
debt free, living in the
blessings of God. I’m praying for you!
“God did extraordinary miracles through
Paul” (Acts 19:11 NIV).
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