Money Management: Declare War on Your Debt

Are you in debt? If so, I want to encourage you to declare war on your debt and break the debt cycle. You can do it! With a little planning and a bit of work, you can turn your financial affairs around for the better.

A habit is something that if practiced, and regularly repeated, becomes a way of life.

Good habits usually lead to success, while bad habits lead to destruction.

Let’s face it, debt leads to a lot of unnecessary stress. When you add up all your debts (your home mortgage loan, car loan, your store cards, and a few credit card repayments), it can leave you with that sinking feeling. 

When debt levels rise, it seems to eat up your cash flow. Spare cash seems to vanish, which makes it increasingly difficult to even make ends meet, let alone break the debt cycle. When you are in debt it can feel like there is no way out.

“The rich rule over the poor, and the borrower is slave to the lender.” (Proverbs 22:7)

If you are battling to make ends meet and are regularly needing to use your credit card to cover your monthly expenses, without being able to settle the debt in full the following month, interest is going to eat up a lot of your income.

Surely your hard-earned money could be better utilized to save for a new home, your children’s education, your retirement, or even for holidays to make good memories.

But, no matter how bad things are today, there is a way out.

You can get out of debt and get back on your financial feet. You can exchange poor financial habits for good new habits. You can change your financial priorities. You can turn things around. It is your time to break the debt cycle.

If you to declare war on your debt, you need to know what you are up against. 

Most people do not actually know how much debt they have. You therefore need to face your debt, even if it scares you. You need to get a clear picture of what debt you have. Don’t bury your head in the sand and pretend your debt doesn’t exist. Be honest about your current financial situation. 

Where are you now? How bad is your debt? 

Once you know what your enemy looks like, you can come up with a plan to attack your debt and set up a strategy to be debt-free by a certain date. With a plan, you can turn your financial affairs around. 

And please do not try to face your debt alone. Ask God for wisdom, guidance, and for his supernatural breakthrough. Commit your debt plan to God. He will help you.  

“Commit your actions to the Lord, and your plans will succeed.” (Proverbs 16:3)

Once you have a plan and have committed it to God, you need to get disciplined.

Form some good habits and follow through on your plans. You can break the cycle! Be weird and say no to debt!

“I can do all things through Jesus Christ who strengthens me” (Philippians 4:13)