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15 WAYS TO GET OUT OF DEBT
- Pray and work hard – Note that pray without work is dead, and work without pray is labour. So, to stay out of debt you must run to the right source (GOD) as your author and the finisher of your faith, who alone can crown work with success. 2 Kings 4 : 1 – 7; ask God to open your door. You can pray yourself of indebtedness.
- Accumulate no new debt – Many persons borrow money on top of another in order to pay the previous loan owned. We should try our best as possible to avoid accumulation of new debt. Just pay what you owned, not accumulating it.
- List all your debt – It is proper to list your debts to determine your current financial situation. Then decide how to pay your debts.
- Have a written plan or budget – your focus is your budget, and your thought is your plan. Develop those thoughts into written plan. Know how you will spend your money to avoid spending above your income.
- Establish a repayment plan for each debt you owned – Most creditors are willing to work with people who honestly want to pay back the money they borrowed; those who reply their debt communicate regularly and follow through.
- Consider earning additional income from other sources – Many people had jobs that simply do not produce enough income to meet the need of their family, talk more of catering for other extended family even if they spend wisely.
- Reduce spending ¬– Learn how to prioritize your priorities. Do what is called scale of preference to know which and which come urgent, and which to be done later if more income comes.
- Pay your debt – The bible says in the book of Malacha, that you should bring all the full tithes (the one tenth of your income) to HIS house, so, that there may be meat in HIS house; but if you rub HIM in your tithes and offering, then, there shall be curse on you. The curse of indebtedness.
- Avoid surety or cosigning – Surety or cosigning simply means you are legally responsible for the debt to another if he/she does not pay back the money he/she borrowed or owned. If you must stand as a surety for someone, trust the person upto about 90 -100% that he/she will not fail to pay back, or you have enough to pay back if he/she fails.
- Divine connection ¬– For you to achieve the abundance you need you must be divinely connected.
- Value want you have whether good or bad
- Divine Opinion
- Divine work
- Divine seed
- Obedience
Conclusion
It is crystal clear from the bible that God discharges the use of debt. God wants us to work in financial abundance. Thereafter, we must follow biblical principles to avoid debts, obey God, invest in God’s business, spend wisely and live in abundance.
Note:
This wiil only be of help if you can follow the principle above.
THIS IS THE SECOND SECTION; SEE MY OTHER POST FOR FIRST AND THIRTD SECTION IF YOU HAVE NOT DONE SO. I LOVE YOU BUT GOD LOVE YOU MORE.
THANKS.