The Land of Not Enough

“Just as the rich rule the poor, so the borrower is servant (slave) to the lender.”
-Proverbs 22:7

The basic questions before going into debt:

  • Is the money I will be obligated to repay, and the bondage it will create, worth the value I’ll receive by getting the money or possessions now?
  • Have I prayed about this?  Have I sought godly counsel?  What is the wise thing?

Rules in using credit cards:

  • Never use your card for anything except budgeted purchases.
  • Pay off your cards each month.
  • The first month you have a credit card bill you can’t afford to pay in full – destroy the card and don’t get another.

How to get out of debt:

  1. Repent – unlearn the world’s values and learn God’s.  Turn around!
  2. Give God the “first-fruits.”  Recognize God ownership of all by giving to Him first.
  3. Incur no new debt.  Stop the bleeding!
  4. Systematically eliminate existing debts.  Have a plan and work it.
  5. Perform plastic surgery on your credit cards.  Cut them up.
  6. Stop rationalizing your debt habit.  Be honest.
  7. If debt seems like the best or a necessary choice, go slowly and prayerfully.
  8. Learn the difference between saving and spending.
  9. List your debts and, if necessary, contact your creditors.  Tell them your plan.
  10. If you’ve done everything else and it still seems insufficient, consider ways to  increase your income, or sell things, to eliminate your debts.

Financial Principles to live by:

  • Nothing is a good deal unless you can afford it.
  • Before you take matters into your own hands, God wants an opportunity to either provide for your needs or show you that they aren’t really needs.
  • Just because you can afford something doesn’t mean God wants you to get it.
  • Increased income doesn’t necessarily mean that God is saying spend more.  More often, His real message is give more.

What’s your next step?