As Christians, the Bible admonishes us to live a life that is free of debts. In Proverbs 22:7 the writer says “The rich rules over the poor, and a borrower is a slave of the lender”. That is the bible urging us to steer out of debts as debts in their nature are enslaving. When we appreciate debts as enslaving, then it becomes our responsibility to do live in such a way that we safeguard ourselves from amassing debts and not only that, but that we remain financially independent.

In this article, we will discuss a four-course action plan to steer out of debt.

  1. Spend less than you make.

This is an obvious thing that is stated in almost all financial literacy publications, but few understand the implication of the statement. Living within our means implies that at no time do we spend more than we earn. While it might not be within our control to dictate what we earn, we can take control of what leaves our hands once we earn. When we spend less than we earn, the surplus is what overflows to be the saving for tomorrow, the resource for doing things we have wanted to do, and seed capital for business.

  1. Develop a habit of preparing budget and sticking to it.

We, humans, are by nature creatures of habit. Good habits like preparing a budget unlike bad habits are hard to form, and they therefore require time and will-power. But the benefits that accrue from “habitual budgeting” are enormous. Make it a habit of doing your shopping form your budget. For our family, we found out that blind shopping always blow away the budget, and to counter this we developed a monthly grocery shopping list that goes with our budget, and any add-ons are factored into the budget.  While it might appear odd at first, once you develop the habit you will never find yourself going out for binge shopping.

  1. Learn to be frugal when managing our finances.

One concept that people who keep fit are reminded is that if you take a jog in the morning, you are very likely to come across slim and fit people running. People who in your opinion shouldn’t be striving to keep fit. But then it strikes you that it is their discipline and dedication that makes them keep fit, unlike those other people who didn’t develop the discipline and dedication to keep working out. The same applies to our finances that those people that are independent are so because they have kept the good habits that put them there first.

  1. Consider investing in financial literacy.

A story goes that one day a man approached, one of America’s richest men to know the secret of how he had managed to beat up the market and end up with a great portfolio. The rich man who was advanced in years had pointed out to a stack of books that were piled in his library and said, “those, my friend, they help a lot.” As Christians, we are called upon to be good stewards and while being the world richest people might not be our motivation, we ought to be knowledgeable in areas of personal finance. The fact that you are reading this article shows your quest for knowledge and we commend you for that. In Hosea 4:6 ESV The Bible speaks “my people are destroyed for lack ow knowledge”. So, friends invest in knowledge, so that we may not be ensnared and hampered in our service to God.

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