Living A Debt Free Life

By Gilton HD Chakhaza
Before you begin your journey to get out of debt, it is important to know what the Bible says about debt. You can then use these truths to build your faith since faith comes by hearing the word. Once you have a solid understanding of what God has to say about the issue, then you can boldly pray about your debt in faith.

 LIVING A DEBT FREE LIFE by Gilton HD Chakhaza

The Bible And Debt Before you begin your journey to get out of debt, it is important to know what the Bible says about debt. You can then use these truths to build your faith since faith comes by hearing the word. Once you have a solid understanding of what God has to say about the issue, then you can boldly pray about your debt in faith. What does the Bible say about Debt? The borrower is slave to the lender. When you are in debt to another, you enter into a slave/master relationship with your creditor. (Proverbs 22:7) God wants us to lend to others. Obviously, this is difficult if you dont have anything to lend. (Deuteronomy 15:6, 28:12, Matthew 5:42) We are required to pay back what we borrowed. It is easy to take this lightly, but if we borrowed it, we should pay it back. (Psalm 37:21, Ecclesiastes 5:4). What the Bible does NOT say about debt That it is a sin to be in debt. Like mentioned above, it is not Gods best for us, but the Bible does not say that it is a sin. There are no instances in the Bible where God provides through a loan. He provided for His people in many ways but loans were not one of them. That is something to think about next time you get tempted to reach for the credit card.
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. What are the Biblical promises about debt The way I look at it, Jesus came to set us free from the bondage of sin. We were slaves to sin, until He set us free. If He wanted to set us free in one area, why would He want us to be slaves in another? I also love Deuteronomy 28:12: The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow. This verse is one of the promises that I stand on when praying about my debt. The prerequisite listed in Deuteronomy 28:1 is that we diligently obey the Lord your God. God can NOT keep us out of debt I believe God would love to see His children living debt-free lives. But, as stewards of the money that He has entrusted to us we have a free will to do what we wish with it. We can choose to give it, save it, spend it, or even spend more than we have. I also believe that God will work on our behalf to help get us out of debt, but we have a big part to play to stop spending more than we have! It doesnt matter how much God provides as long as we are spending more money than we have, we will always be in debt. Its bigger than us As Christians we have the opportunity to use our finances to build Gods Kingdom. Every decision we make with our money may be much larger than we realize. Speaking for myself, I know it is easy to get caught up in trying to store up treasures on earth, when I know I should be storing them up in heaven. Every time I do, I get a gentle nudge back on to the narrow path that I am so thankful for. Storing up treasures in heaven is the way to live!
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Five Biblical Principles about Borrowing and Debt

1. The Bible does not prohibit debt. However, everywhere that debt is mentioned, it is discussed in a negative light. The main reason for this it makes you a servant to someone other than God. Proverbs 22:7 says: The rich rule over the poor, and the borrower is servant to the lender. When you borrow, you become a servant to a bank, a business, a family member, a friend whoever you borrowed from. When you borrowed, they put conditions on the loan what you can do and what you cant do. This makes you a servant to them. We are to be servants to God and to him alone. Thats why the Bible counsels us to avoid debt. 2. If you do borrow, you must pay back all of the debt. It is a sin to borrow and not repay. Psalm 37:21 says: The wicked borrow and do not repay, but the righteous give generously. If we dont want to be counted among the wicked, we must repay any debt we owe. It really doesnt matter if the circumstances are beyond our control. If we make a debt, were stuck with it. Ecclesiastes 5:5 says: It is better not to vow than to make a vow and not fulfill it. This is reason #2 why the Bible discourages borrowing. 3. If you do borrow, you should do so only if you have a guaranteed way to pay it back. For instance, if you borrow to buy a car for your business, arrange the loan so that if you cant pay for some reason, the lender can take back the car and you will be free from your debt. If you don't do this, you're signing surety. By signing surety, we're presuming on the future. If everything goes as we expect, well be able to pay the loans back. If things go wrong, as they often do, we may be left in debt. If Christians would observe this one caution associated with borrowing, the most they could lose is the security they had pledged against a loan. This is especially true of co-signing a loan for another person. Do not do it unless you are willing and able to pay the whole amount for the person.

Proverbs 17:18 says: A man lacking in judgment strikes hands in pledge and puts up security for his neighbor. 4. Do not accumulate long-term debt. The longest term of debt Gods people took on in the Bible was about seven years. During the year of remission, the seventh year, the Jews were instructed to release their brothers from any indebtedness. Deuteronomy 15:1-2 says: At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORDs time for canceling debts has been proclaimed. Thus, the only debts that could exceed seven years were those made to non-Jews or from non-Jews. However, Id encourage you to use this as the maximum length of time youd borrow from anyone. Even if you have to take a 15-year loan, have a plan to pay it off in 7 years or less. 5. The best way not to have to borrow is to follow Gods laws and commands totally. Deuteronomy 28:1, 12 says: If you fully obey the LORD your God and carefully follow all his commands I give you today, the LORD your God will set you high above all the nations on earth. The LORD will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none. Borrowing is never Gods best for His people. However, if you do not follow Gods commands, borrowing will be a curse upon you: Deuteronomy 28:43-45 says: The alien who lives among you will rise above you higher and higher, but you will sink lower and lower. He will lend to you, but you will not lend to him. He will be the head, but you will be the tail. All these curses will come upon you. They will pursue you and overtake you until you are destroyed, because you did not obey the LORD your God and observe the commands and decrees he gave you. Therefore, follow God and his commands and your need for borrowing will be minimized, if not eliminated.

LIVING DEBT FREE LIFE 5 Biblical Financial Principles to Live By

With our economy in the tank, people borrowing from their retirement, and so many mortgage defaults youd think we as a nation have given up on fundamentally sound financial principles. But maybe not. Maybe, just maybe, we have strayed from Biblical principles that made this country great in the first place. I want to share with you five core financial principles that I have built my personal finances around. All five principles come straight out of the Bible. I really believe that if you follow these, God will bless you. Lets get started: 1. God is not a fan of debt No one likes debt, not even God. Want to see amazing things happen in your spiritual life? Get out of debt and watch things happen. The Bible is clear on the topic of debt. Check out Proverbs 22:7, The rich rule over the poor, and the borrower is servant to the lender. I dont know about you, but this does not sound like a fun situation to be in. Dont get into the habit of buying now and paying later. Not only will it get you into trouble but its flat out unbiblical. 2. Contentment is key Contentment is huge for anyones personal financial life. The moment you start coveting, you get yourself into trouble. Take someone who purchase an older model BMW and can clearly afford it. Theyre driving down the road one day and see a brand new model of their car. They covet, take out an even bigger loan and get the newer model. This is such an unhealthy way of living your life! I see this all too much in Malawi. God was onto something when He said You shall not covet your neighbors house; you shall not covet your neighbors wife, or male or female slave, or ox, or donkey, or anything that belongs to your neighbor. 3. Start saving, it makes God smile God loves it when His children save their money instead of squandering it. I love how Proverbs 21:20 puts it, There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. Dont get caught up in buying the latest gadgets or incessantly upgrading things unnecessarily. Start to think in terms of saving instead of spending. Above all, you need to start thinking about your
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money as Gods money. At the end of the day its all His anyway so spend wisely, and save often. 4. Create a budget and follow it This seems like a simple concept, but the average person (myself included) cant stand budgets. Once you get used to budgeting and setting limits on your spending, it becomes second nature and everything else takes of itself. Living life without a budget is stupid. Its just not a wise use of the Lords resources. It sounds harsh, but I think God wants us to keep accurate records so we can see where we stand each month. Foolishly living without a budget is a lose-lose situation. 5. Work hard, really hard Believe it or not, work is a good and holy thing! Its part of Gods amazing plan for our lives. Check out any work related verse in Proverbs and youll notice that people who work have bread on the table and those who choose to be lazy often live a life of poverty. Its hard to keep this black and white during the current recession, but Im a firm believer that if you are willing to work hard, there will always be a job for you. It just might not be your first pick! At the end of the day, working hard glorifies God. Center your finances around these Biblical principles and you will save yourself from a world of hurt. Remember to give your best to God first, live within your means, and save your money. Part of this journey is trusting in God with everything, including your finances. Once you get a taste of the joy that is to come, you will never go back to your old ways.

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Debt Free Christian

Wise Stewardship & Debt Free Christian Living Would you like to become a debt free Christian and figure out why some people just seem to have it all go their way? Life just seems "charmed" for these that can attract and retain wealth while others struggle just to make ends meet. Find out what they do differently that can make a difference in your personal finances starting with the 5 steps below:
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1) Study Those That Have Been Successful Great men and women throughout history have painted extraordinary life examples for us to emulate characteristics such as leadership, salesmanship, ingenuity, and selflessness. But what about ultimate wisdom? In his book The Richest Man Who Ever Lived, Steven K. Scott details the wisdom of King Solomon and the ultimate wealth he achieved by following the principles from the Biblical book of Proverbs. Find your examples and study the successful characteristics of those men and women that you wish to emulate in your own life as a debt free Christian. 2) Make Small Changes Over Time Establish a baseline for your personal finances and see where you are as a first step. Write down your goals for the year and the next 5 years and then list several things that you know will need to change in order for that to happen. You may say that in the next year you want to earn 20% more as a goal so in order to accomplish that you may need to get a raise at work, take on a second job, or figure out how to cut costs from your current expenditures to accomplish a 20% higher income. Write it down. Start small by taking a lunch to work instead of eating out every day. You may take a part time job doing something you enjoy, but the point is to slowly work toward your goal in small chunks over time. Your goal could be anything but break it down into small action steps that you can implement right away and that you can build on over time. 3) Seek Out Wise Advice Friends and family unfortunately don't always lend sound advice when it comes to personal finance matters. Look for people that are already successful but that are down to earth. Many millionaires live their life in such a way that you wouldn't know what they are worth but these people understand the principles of finance and living. Find a mentor and ask questions and listen for advice. Choose someone that you would like to have similar results and then open your mind to the new ideas they may share. Often financial wisdom runs counter to basic logic so if something sounds strange or like the opposite of what you would normally do then test it. Debt free Christian principles are never based on rapid wealth accumulation or get rich quick schemes.

4) Earn More or Spend Less As mentioned previously if you desire to become a debt free Christian or if you simply have financial goals you want to achieve focus on earning more through multiple areas. Take on a part time job cleaning houses or delivering pizzas. Turn off the lights in the house and regulate your water usage. Perhaps you don't need the premium cable package and you could downgrade to the basic package to save some money. There are a million ways to make more and spend less that are way more simple than people realize. Come up with your own list of 5 ways to save more and 5 ways to earn more. After a year is up you will be amazed what this strategy can yield. 5) Pay Off All Debt Have a plan for the extra revenue you create. One solid technique is called the "debt snowball" method of debt repayment where you take your smallest debt and focus the extra revenue on it until it is wiped out, then go to the next smallest debt and focus the payment from the first debt that you paid off plus your extra revenue until that debt is wiped out. As you move toward the larger and larger debts you have more momentum as the "snowball" is getting bigger and bigger the more you pay off. Use a debt snowball calculator to project your debt / savings. This method has been proven to decrease debt repayment time, which equates to fewer interest payments and more money saved. If you are a Christian strive to be a debt free Christian, if you aren't then use the wisdom and financial principles of the time tested Bible in Proverbs to propel you to achievements that only seem to be out of reach.

Living Debt-free Biblically Luke 16:1. JESUS ALSO said to the disciples, "There was a rich man who had a steward, and charges were brought to him that this man was wasting his goods. 2. And he called him and said to him, 'What is this that I hear about you? Turn in the account of your stewardship, for you can no longer be steward.' 3. And the steward said to himself, 'What shall I do, since my master is taking the stewardship away from me? I am not strong enough to dig, and I am ashamed to beg."

Biblical Principles of Borrowing and Debt Proverbs 22:7 The rich rules over the poor, and the borrower is the slave of the lender. This is because the lender has the biblical right to confiscate what has been pledged for the debt. Not long ago, failure to repay debts meant prison terms. The current attitudes toward debt are based on greed and indulgence a) on the part of elected officials who wish to expand the economy through indebtedness, b) as exemplified in laws enacted to make borrowing less risky and credit more available, c) the government itself provides a standard by borrowing massive amounts. Romans 13:7,8 Pay to all what is due them-taxes to whom taxes are due, revenue to whom revenue is due, respect to whom respect is due, honor to whom honor is due. Owe no one anything, except to love one another; for the one who loves another has fulfilled the law. Scripture does permit borrowing. If one is instructed by scripture to repay, then borrowing is tacitly permitted. Borrowing not promoted, but not prohibited. Biblical Principles of Borrowing The reader is reminded that the following are principles, not laws. 1) Debt is not normal. Deuteronomy 28:12 Yahweh will open for you his rich storehouse, the heavens, to give the rain of your land in its season and to bless all your undertakings. You will lend to many nations, but you will not borrow. 2) Do not accumulate debts with terms longer than seven years (no longdebt). term

Deuteronomy 15:1-2 Every seventh year you shall grant a remission of debts. {2} And this is the manner of the remission; every creditor shall remit the claim that is held against a neighbor, not exacting it of a neighbor who is a member of the community, because Yahweh's remission has been proclaimed. 3) Avoid surety (co-signed) loans - Do not borrow without adequate collateral. This includes any unsecured debt - credit cards, line of credit, etc.

4) The borrower is morally committed to repayment. Ecclesiastes 5:5 It is better that you should not vow than that you should vow and not fulfill it. Errors That Lead to Debt 1) A get-rich-quick mentality that governs financial decisions will lead to poor, impulsive investments. a) One of the most common instances of poor investing is using unsecured credit (other peoples money) to pay for staples, such as food and clothing or extravagances (vacations). Risk mentality leads to greater and greater risks, and eventual "wipe out." Proverbs 21:5 The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to want. b) Involvement in "things you don't understand" is characteristic of get-rich-quick mentality. Many Christians have been tricked by "special revelations" or the schemes of so-called Christian businessmen. Hasty and impulsive financial decisions lead to debt. Proverbs 28:20 The faithful will abound with blessing's, but one who is in a hurry to be rich will not go unpunished. One must pray diligently and receive an answer before obligating one's self financially. Allow no one to pressure you to invest. 2) The Father has provided every married Christian with an advisor - their spouse. The husband / wife relationship should include a mutual decision on investment and finance. 1 Peter 3:7 You husbands live considerately with your wives, bestowing- honor on the woman as the weaker sex, since you are joint heirs of the grace of life, in order that your prayers not be hindered.

Principles For Getting Out of Debt 1) Sell whatever you do not need and give the money to creditors. Proverbs 3:27-28 Do not withhold good from those to whom it is due, when it is in your power to do it. {28} Do not say to your neighbor, "Go, and come again, tomorrow I wi11 give it"--when you have it with you. 2) Ask creditors for forgiveness and work out repayment.
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Matthew 5:25 Come to terms quickly with your accuser while you are on the way to court with him, or your accuser may hand you over to the judge, and the judge to the guard, and you will be thrown into prison. 3) Think and plan things out before acting. Luke 14:28-29 For which of you, intending to build a tower, does not first sit down and estimate the cost, to see whether he has enough to complete it? {29} Otherwise, when he has laid a foundation and is not able to finish, all who see it will begin to ridicule him.... 4) Make a budget and do not ever violate it -- this means do not use any credit or credit cards. Dealing with Creditors The main thing to remember is to always run toward the creditor, never away (Matthew 5:25). Even if the debtor can't pay the entire debt, he can pay something. Ecclesiastes 5:5 It is better that you should not vow than that you should vow and not fulfill it. Finding Help The first question is, "How severe is the problem?" If monthly payments exceed available income, then a financial counselor is probably needed. A volunteer counselor can negotiate lesser payments or a moratorium on assets until the collateral or assets are sold. Proverbs 15:22 Without counsel, plans go wrong; but with many advisers they succeed. Counsel is needed! Only the exceptional may be able to handle small claims court! Proverbs 14:15 The simple believe everything, but the clever consider their steps. Avoid direct counsel from unsaved persons! This limits Yahweh's ability to work in the situation supernaturally. Proverbs 3:5-6 {5} Trust in Yahweh with all your heart, and do not rely on your own insight. {6} In all your ways acknowledge him, and he will make straight your paths. Unsaved financial counselors' primary goals is to protect the assets of the debtor. But the Christian must focus on the rights of the other party first!

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The answer in most cases is not more money, but more personal discipline. If there are urgent needs, such as judgments, evictions, and foreclosures, these must be dealt with immediately. Burying one's head in the sand will not make these types of serious financial problems go away. They must be dealt with head on. One must not expect unrealistic results. Getting out of debt means discipline and, in some cases, years of work. Christian Financial Concepts include the following:1) determining actual spending by executing a monthly income / expense report, 2) keeping a record of every expense for the entire next month, using pocket notebooks -- then develop a budget from this. Budget necessities first, then see what is left over for payment of debt, 3) maintaining the budget - in all cases there is a need for accurate records and control over spending.

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