It’s the dirty D word. Debt. Whether its school loans, bad credit card decisions, or medical bills, debt can seem paralyzing if you don’t know how to deal with it. No one wants to be in debt, yet, for many people it is inevitable. Today, I want to share 4 encouraging thoughts about debt for those who feel like their drowning.
While debt may be bad, God can use it for your good.
“All things work together for them who love the Lord.” Romans 8:28
Debt is something that biblically we should strive to stay away from, but it will never stop God from blessing us. One of the amazing ways he uses debt for our good is to develop discipline within us. Unless you win the lottery or gain an inheritance, it will require discipline to get out of debt.
Discipline takes a willing heart and an adamant no to your flesh. You have to decide to go without some of the pleasures you are used to having in order to see financial freedom.
2. You can get out of debt.
Often times, depending on how much debt you are in and your income, no snowball or avalanche is going to get you out quickly….and that’s okay. Don’t beat yourself up because getting out of debt may take you 2 or 3 years instead of 3 months. You just need to make a plan and know your debt free date based on the sacrifices that you can make now.
If that means you can be debt free in 3 months, that’s great. But if it takes you 3 years, that is okay too. This is one of the biggest ways that you can gain a breath when you feel like you are drowning in a sea of debt. Acknowledge that you will be in debt longer than you would like. Then create a plan to get out of debt based on the sacrifices you can make. Look toward that date instead of comparing your situation with others.
3. Get an Advisor
If you can afford even a 1-time meeting with a financial planner, you will reap so many benefits. But if you can’t, just find someone who is an older, well-seasoned person to help you go over your finances. Sometimes, they can see things that you can’t. They can challenge you in ways that you can't challenge yourself.
They can offer advice, and you can learn from their triumphs and mistakes in life. It requires a lot of vulnerability so make sure that you talk to someone that both you and your spouse trusts. As well as, someone who has shown great financial responsibility within their own life.
4. Don’t let Debt Stop You from Giving
Debt sucks. But, it is not the end of the world. Make a decision to give to those in need even though you may not have as much to give. Even when my husband and I were in a tight spot financially, we still gave a portion of our money to church or someone else who was in need. Satan would love to keep you from blessing others because of your debt. Choose to give regularly to your the church or others that are in need in spite of your debt. Don’t let it control how you serve others.
Debt can be such a heavy load to carry, but when you remember these 4 thoughts, you can gain a brand new perspective. You may not get out of debt this year, but it will happen. Don’t let it control your life, instead, use it to challenge yourself in areas of weakness. Create a plan, and see your path to financial peace.