Surviving Debt

8 Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.

Romans 13:8 (NIV)

Living with debt is a horribly dark, oppressive cloud that lurks over every aspect of your life. The worst life and money decisions we can make are those based on fear.

So many of us end up quitting our beloved public service careers to find other jobs that pay more per check but contribute nothing to pension, healthcare, or deferred comp.

We know planning for a thirty-year retirement when you’re over your head in debt is like giving a drowning man a glass of water, but the long-term vision is a part of the process of regaining financial freedom and personal peace.

We’re not going to reinvent the wheel. Based on scriptural principles and sound financial management, there are basic steps that include a commitment to take control of your money.

Don’t be afraid of money. It will only hurt when you don’t take control of it. Money also has a way of walking away unless you are responsible with it.

This isn’t being stingy, it’s about mature money management.

You must begin by working together to create a monthly budget. It’s not hard to list what you make versus what you owe. If you owe more than you make, then killing down debt is your priority.

Adjustments in lifestyle often help free up money that can be paid toward your debt. Knocking out the small amounts and then rolling those payments to the next amount will soon show you that you can survive debt, but it takes a 2:24 Unit effort to break into financial freedom.

CALL TO ACTION:

Do you have a family budget? If not, begin the process of talking about the need to draft one. Identify your debt, live within your means, and take the fear out of finances.