GET OUT OF DEBT. Who wants to be in slavery? No one, but when we become borrowers, we become a slave to the lender. If already in debt, how can we be released from bondage? Pay your debtors. Here is a practical guide to help you get out of debt.

In the Bible, God has provided us with practical guidance on how to live above the stresses of life, and we are given instructions on how to manage the resources He has given us.

In this series,

From a biblical perspective, we are looking at how to manage effectively the resources God has given us while prioritizing What Really Matters. (Split)

Review any of our previous lessons @ SabbathSchoolDaily.com. (Split)

Also, you can obtain the study guide to these lessons @ Sabbath.School or ssnet.org (Split)

Talking to the Father

Holy Father, Many of us have become servants to the lender. Help free us from bondage by giving us the discipline to do without when we do not have the money to pay for it. And give us the willpower to pay our debtors. In Jesus’ Name, Amen

Owing money is the same as slavery, according to Proverbs 22:7

7 The rich rules over the poor, And the borrower is servant to the lender. (Proverbs 22:7) (Split)

In what way are we under bondage when we are in debt to the lender?

One writer says:

The practice of borrowing money to relieve some pressing necessity and making no calculation for canceling the indebtedness, however common, is demoralizing. —Colporter Ministry, pp. 93, 96.

 

And for those who own businesses, the following advice is given in Counsels on Stewardship. 

Those who might have done well if they had consecrated themselves to God, if they had been willing to work in a humble way, enlarging their business slowly, and refusing to go into debt, have made a failure because they have not worked on the right lines. And after getting into difficulty, they have sold out, as men incompetent to manage. Because of their desired relief from financial pressure, they did not stop to think of the after-results.

Moreover, those who help such ones out of difficulty are tempted to bind them with such strong cords in the shape of pledges that ever after, they feel that they are bondslaves. They seldom outgrow the reputation of poor management and failure.

To those who thus become involved in debt, I am instructed to say: Do not give up if you are moving in right lines. Work with all your power to relieve the situation yourselves. —Counsels on Stewardship, pp. 273, 274. 

And how can we escape from bondage?

The intent of this video is to help to place you, from a Biblical perspective, on the road to financial freedom.  If you are in debt, this plan will help you to begin the process of eliminating your debt. The plan is not complicated. It contains three simple steps. These simple steps can be applied to individuals that are in debt, families that are in debt, and even businesses that are in debt.

However, before we began taking the three steps to financial freedom. We must be fully committed to God. Because he is the one who provides all the resources we need, and he is the one who gives us the power and the will to be free from debt. 

Thus for these three steps to be successful and we remain out of debt require that we make the commitment to return to God that which he has asked us to return to him.

We must give God all that we owe Him. Then as a faithful and obedient manager of his resources, He will make us wise and pour out blessings as expressed in Malachi 3:10, in which we will not have room enough to receive.

10 Bring all the tithes into the storehouse, that there may be food in My house, and try Me now in this,” says the Lord of hosts, “If I will not open for you the windows of heaven And pour out for you such blessing That there will not be room enough to receive it. (Malachi 3:10)

This is a promise from God, but this promise of blessings is conditional. He asks that we return 10% of whatever money we get back to him. If we get $100.00, God expects us to return $10.00 to him and give in addition to the $10.00 out of the $90 that remains, give a liberal offering base on your financial ability.

Once you have made the commitment to do as God has asked, then you are ready to take the walk to financial freedom.

Step 1. Stop borrowing money. Declare a moratorium on going into additional debt. Avoid spending money that you don’t have. If you don’t borrow money, you can’t get further into debt.

Step 2. Make a covenant (a promise) to God that you will pay off your debt as quickly as possible. When God blesses you with extra money, use that money to reduce debt. Don’t use it to buy more things.

This is most crucial. It is perhaps the most important part of the plan. When most people get extra money, they tend to spend it.

But Don’t! instead, use that extra money to help you pay off what you owe. 

Finally, Step 3. Some may find this step difficult but do not neglect it. Make a list of everyone you owe. List all your debts, from the biggest amount to the smallest amount. For many families, their home loan or their car loan is at the top of the list, followed by credit card bills, for some, it may be payday loans or family members.

But, start by paying just the minimum payment due each month.  Next, when you can afford to, double the amount or increase the amount you pay on the smallest debt you owe at the bottom of your list.

You will be happy and surprised to discover how fast you can get rid of the smallest debt. When you pay it off, then use the money that you were paying on the bottom debt and add it to the amount of payment on the next debt as you work your way up the list.

Continue to follow this plan until you work your way up to the top of the list and pay everything off.

As you pay off your smaller loans or debts, you will free up more money. Then you can use this money to pay off the other loans or creditors.

This method has been tried and has been found to be successful for many families. When they followed these three simple steps they became debt free. 

You see, God doesn’t want us to be in debt. God blessed them in ways that they didn’t expect. And He can do the same for you too! Put God first, and you’ll receive His wisdom, guidance, and blessing for effectively managing what He has entrusted to you.

In your process of becoming debt free, you may encounter opportunities to quickly eliminate your debt, and still, others may ask you to become a surety for them. How should you handle situations like this? Day 5: Surety and Get-Rich-Quick Schemes

If you don’t have a church home and wish to return tithe or give an offering, consider giving online,

@ Adventistgiving.org

my local Church:

Hebron Seventh-day Adventist Church 7902 Wheatly Street Houston, TX 77088

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