[callout]Having been in ministry as a pastor for over twenty years and being a former accountant for Fortune 500 companies, I have seen what money can do to people. When money conflicts with our Christian life and values, the results can be heart breaking and devastating. I have had to deal with more marriages that suffer over money rather than infidelity It is a simple case of spending money you don't have to impress people you don't like on things you don't need. So how do Christians go about getting out of debt once and for all?[/callout]
Give back to God
One man gives freely, yet gains even more; another withholds unduly, but comes to poverty. Proverbs 11:24 NLT
• Giving is the best way to combat materialism and “me-ism”
• Save $1,000 as fast you can for an emergency fund
Stop spending more than you have
The wise have wealth and luxury, but fools spend whatever they get. Proverbs 21:20 NLT • Cancel your credit cards.
• Use cash only.
• Reduce monthly commitments (cable, internet, cell phones, magazine subscriptions are NOT necessary for most of us)
Sell assets
When she told the man of God what had happened, he said to her, "Now sell the olive oil and pay your debts, and there will be enough money left over to support you and your sons." 2 Kings 4:7 NLT
• Ditch the expensive car with the oppressive payment and get a quality used car.
• Sell assets that you don’t really and use money to pay off debt
Pay off debts systematically
• Pay off credit cards lowest balance to highest balance
• Don’t put money in savings when you are in debt – get out of debt first.
• Be creative in finding sources of extra income.
Once the debt is paid off use that money for savings
• Once one debt is paid, lump that payment in with other payments until all debts are retired.
• Then start SAVING the money you had been paying out.
For some of you it’s time right now to take the first step. That you’re done with trying to rely on “Happy Meals” to make you happy. And that you want to be free of the bondage of materialism that threatens to ruin your future – or at the very least rob you of the true joy the Holy Spirit will give you when there is nothing else in your life you’re trying to find joy from.
