5 Biblical (and practical) Ways to Deal With Debt

The seed of financial problems was probably planted early in our lives when we observed the actions of our parents. Many of us were never taught the basics of how to handle money. As we grew up, we felt that we should immediately have everything that our parents took a lifetime to acquire. So as young couples we start off by paying for our wedding and honeymoon on credit, buying a house that we really couldn’t afford, purchasing two cars and now having two car notes and using credit cards to buy clothes. This type of spending sets the tone for the rest of our lives and it’s virtually impossible to recover. We gradually see our income being consumed by interest and monthly payments. Once the credit card company provides easier access to credit with higher ceilings and lower minimum payments, the cycle is almost complete. The grip of debt is tightened, and this often leads to destruction of personal integrity, bankruptcy, and even the breakup of the family.

Proverbs 22:7 says “the rich rule over the poor, and the borrower is slave to the lender.” This passage is pretty simple to understand. The person who borrows puts him or herself in servitude to debt. When we borrow we are slaves to debt; we are in bondage to the one we borrow from in both time and money. So now, we find ourselves spending all of our time working to make money, so we can pay debt. God’s plan for your financial life is quite opposite from this scenario. In Romans 13:8 it says to let no debt remain outstanding, except the continuing debt to love one another.

Dealing with debt from a biblical perspective is one could be one of the toughest challenges, but it can be done! Here are 5 simple actions items to help you break the power of debt over your life:

  1. Pray for God to break the power of debt. Matthew 7:7-8
  2. Believe that God wants you out of debt.
  3. Set a goal of living on 70% of your income. Tithe 10%, save 20%.
  4. Follow the biblical guidelines regarding debt. Romans 13:8
  5. Be a lender and not a borrower.

As we move into the holiday season, let’s remember these simple, biblical principles about dealing with our debt. If we manage our finances and our debt using these tools we can begin on the road to living victoriously in all aspects of our life – including our finances!


The Family Dollar: What is Your Family’s Financial Destiny?

Does your family, like many American families, desire a better financial future? What’s keeping you from reaching the financial destiny God has planned and promised for your family? Better yet, are you even aware of God’s promises?

The bible has over 800 scriptures about money and biblical practices on how to enjoy
God’s many blessings. Let’s face it, all of us want the best in life and I truly believe
God wants the best for us. But if we are to experience the best, then we have to commit
to making the best decisions with our money. Most of us have more than we need,
but the management, or should I say the lack of management of our finances gets us in
trouble. When we have a clear understanding of why God blesses us with money and
other material possessions, we’ll then have a different perspective on how we spend it.

Deuteronomy 8:18 says this, “But remember the Lord your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today.”

This scripture gives us the hope of a bright financial destiny and it all starts with having faith in God and His power to give us the ability to produce wealth.Faith is the key and it helps in the following ways:

1. Your faith helps you to believe God’s word about your family’s financial destiny
2. Your faith helps you to use your God-given ability to produce wealth
3. Your faith helps you to overcome a spirit of poverty

I hope you’re excited about your family’s financial destiny and all God has for you. Join
us this Sunday as we deal with the bondage of debt in our family.

Be our guest as the Family Dollar series continues, this Sunday at 10:30am, 285 Dacula Road, Dacula Ga.