5 Simple Tips to be Debt Free

We’ve played the game “would you rather?” as a family for years, and I’m always amazed how differently we each view what we consider to be the best choice.

When considering a major purchase, would you rather have it now but go into debt to get it, or wait 10 years and pay for it in cash?  

Our human nature is to want things now.  And our society feeds into the idea we can (and should) have it now. 

Biblically speaking, however, debt is a no-no.

Why is debt such a problem? It gets in the way of God’s bigger and better plan for us. 

God wants us to live free from debt, so that we are free to serve Him.

When we choose God over money and debt, we put our trust in Him to provide what we need, in His perfect timing. And we find strength through the Holy Spirit to turn from coveting to a simpler life of moderation and humility, where we can prioritize things of eternity.

Solomon tells us in Proverbs 22:7 the borrower is slave to the lender. Paul tells us in Romans 13:8 to let no debt remain outstanding, except the continuing debt to love one another. 

It’s easy to rationalize debt as the way to relieve burdens or realize dreams.  However, that rarely turns out to be the case.  

The good news is, God always provides a way. If you’re already debt free, well done.  Help someone you know find that freedom you now experience. 

If you’re saddled with debt and don’t know what to do, here are five actions you can take:
  1. Work out a plan with God – Pray for direction, and make debt elimination a priority.
  2. Cut your spending wherever able – For example, stop eating out until you’re debt free.
  3. Do the unordinary – Downsize your house, car, lifestyle; whatever it takes to turn the tide.
  4. Just do it – The debt snowball is a common way many pay off debt. If you have similar debt amounts, pay off high-rate debt with every freed-up dollar you have first, then attack the rest.
  5. View debt reduction as a Kingdom investment – Your prize is living free to serve Him.

A friend told me the other day, “Steady plodding over a long period of time wins.”  He’s right…  The best antidote to debt is to take on the persona of the tortoise, not the hare ?.  

(The Set Your House In Order financial discipleship study teaches how to organize your finances, including debts, by completing a simple financial statement, listing what and whom you owe, income and assets.)

Be disciplined to avoid debt or determined to reduce it. Stay focused on God’s long-term plan for you. Be patient and wait on the Lord. And keep your eye on the prize. You can do it!

Keep charging for Christ,

Brandon Sieben

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