Debt - Help Yourself Get Out of It

Here is one plan that could get you out of debt:

1. Make the commitment to get out. Decide that you are going to persevere and do what it takes. James 1:12 tells us we will be rewarded for it.
2. Set priorities according to your values, and put your money toward what you value most first. This doesn't mean that you decide to become materialistic and buy all kinds of things. What this means is that you pay yourself first. Remember that God provides for you. He gives you the talents to be productive. Once you have provided for your basic NEEDS (food, clothing, and shelter) then put some away in savings. Putting 10% of it into savings is a good guideline. First for emergencies, up to 6 months or a year of expenses, then for years that you may not be able to be productive. Then tithe or give to the poor. Give to God. It is His money to start with, He simply entrusted it to you. (Matthew 25:14-30) He instructs us to use it to endear others to us with money so that when we have none, we might get help from them. (Luke 16:9)
3. Do an inventory of what you have and what you owe. Proverbs 18:13 tells us that we can't make decisions without knowing the facts first. One of the best helps I have found to do this is a book titled Smart Couples Finish Rich, it works if you're single too, by the way. He has wonderful simple methods of establishing a financial recordkeeping system so you have all the information you need at your fingertips, and can take this inventory quickly. Another book for this is The Automatic Millionaire.

More tomorrow....