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In my previous articles about what the Bible says about debt, we looked at the signs you have a debt problem. In this article we'll talk about what to do about it.
The first step you have to take is to admit that you have a problem and commit yourself to getting out of debt. Psalm 37:21 says, "The wicked borrow and do not repay." (NIV) It is interesting that God doesn't just say it is wrong, or a bad idea, He says it is "wicked." There is another consideration here because of the context of this passage. Is God saying the wicked borrow and not repay because they can't since they are wicked and have been cursed and cut off? Or are they wicked because they borrow and then choose not to repay? It kind of makes me think that if you have to borrow for something, maybe it isn't God's will for you to pursue that something. It certainly is a curse to risk a loss where you would be left unable to pay a debt, and then actually experience that loss. This also implies that filing bankruptcy would be wicked as well, since bankruptcy forgives debt you are unable to pay. So to avoid this, while you are in debt, is to do what is necessary to pay your debts.
This means a change in lifestyle in spending and in your spiritual life. Practicing the spiritual disciplines such as prayer and Bible intake, worship, generosity, quiet times, etc., will help you live within your means. In Gal 5:22-23 it says, "the fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness, gentleness and self-control. Against such things there is no law." (NIV) With these fruits you will have the power to make the commitment to get out of debt successfully and never have to borrow because your spending will decrease.
The second thing to do is to realize that it is all God's money, so commit to giving 10% to your church and take it out of your check first, like the IRS does in payroll taxes. It says in 2 Chronicles 31:5, "As soon as the order went out, the Israelites generously gave the firstfruits of their grain, new wine, oil and honey and all that the fields produced. They brought a great amount, a tithe of everything." (NIV) Then take some and save it before you do anything else. This is because it tells us in Proverbs 21:20, "Wise people live in wealth and luxury, but stupid people spend their money as fast as they get it." (TEV), or "Be sensible and store up precious treasures- don't waste them like a fool." (CEV) Before you save it, it should be allocated to paying off your debts. Debts take priority, because of what it says in Proverbs 6:1-5, that you should "deliver yourself like a gazelle from the hand of the hunter, and like the bird from the hand of the fowler" (NKJV) when it comes to debt. It makes no sense to save while you are in debt, except to put aside at least $1000 for handling emergencies. Cut up your credit cards and stop using them altogether. Close the accounts. Live on cash.
Next in the series is "Biblical Steps You Can Take To Get Out Of Debt Part 2" or you might also be interested in reading about Christian debt solutions on my website.
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