Getting out of debt (2)

Proverbs 24:3,4 “By wisdom a house is built, and through understanding it is established; through knowledge its rooms are filled with rare and beautiful treasures.”
Since debt leads to bondage, it is important that we share suggestions given by David I.Wynns on how to get out of it into liberty. The ingredients of wisdom, understanding and knowledge are indispensable in the process of getting out of debt and achieving financial goals.

Seeking divine guidance and direction in our efforts to make, multiply and manage money as well as in controlling our expenditures is an important factor in fighting the bondage of debt. The ability to communicate openly and honestly to creditors in terms of acknowledging your debt and commitment to settle it within an agreed time is a necessary requirement in dealing with debt.

The first suggestion on how to get out of debt centres on stopping all new indebtedness going forth. The moment you realise that you are beginning to feel the pressure of being a debtor, decide to stop taking more credit. Sometimes it feels we cannot do without debt, but retrain yourself and begin to believe that you can live within your means. Instead of borrowing more money, sell all items not being used.

There are people who have a tendency to hold on tightly to their possessions even when it is wise to sell some of the things to meet their financial obligations. There is no point in keeping old and unused items when proceeds from their sale can help reduce the burden of debt. Remember, deciding not to repay debt is wickedness. Proverbs 3:28 says, “Do not withhold repayment of your debts.” You can stop incurring more credit by starting to do things yourself whenever possible, instead of paying for services.

The second suggestion on tackling debt involves setting concrete goals for paying off debts. Wise planning is required in fighting debt. If the debtor has a family it is important to solicit co-operation from the entire family. It does not help matters for a wife to work towards settling a debt while the husband is getting more credit. Make debt solving a family effort. It is also advisable to stay out of stores unless necessary. Advertisements and merchandising are powerful tools in influencing purchases, so stay away from shops to avoid impulse buying.

The third suggestion is to secure a job if you are idle or to secure a better one where possible. The Bible is against idleness but it enjoins the dignity of honest labour. Proverbs 14:23 reads, “In all labour there is profit: but the talk of the lips tendeth only to penury.” Apostle Paul declared a rule, “The one who is unwilling to work shall not eat” (2 Thessalonians 3:10).

Saving for future needs or for times beyond control is part of wise planning. Saving is a biblical principle. Joseph’s plan to preserve people from death caused by famine involved saving up part of the grain produce in the first seven years of plenty to use in the following seven lean years.
Faith in God’s supply of our needs does not mean wasting the resources we have. Pray for God to deliver you from debt supernaturally where it is naturally impossible.

For prayer and counsel call 0772889766 or e-mail mairos78@yahoo.co.uk