Are you a slave?

What a question, right? Of course if you are a United States citizen, you are a free person. Or are you really? Are you a slave? If you have debt, then you are a slave. You are slave to your lender.

Proverbs 22:7-The rich rules over the poor, and the borrower is the slave of the lender.

Biblically speaking, you are undoubtedly a slave because of debt. Do you want to remain a slave or do you want to break free from debt? If you want to stop being a slave and become free, you need to start today to change your life. Here are your steps to freedom:

  1. The first thing you need to do is to stop using credit cards.
  2. The second thing to do is to start living below your means.
  3. The third thing is to start an emergency fund.
  4. The fourth thing is to start using cash for all your purchases
  5. Fifth, create a budget.
  6. Sixth, track your expenses for 30 to 60 days.
  7. Seventh, use the debt snowball to pay down your debt.
  8. Eighth, stop avoiding your creditors. Get together with them and negotiate a reasonable payback schedule. When you show them your budget, you can show them how much you can afford to pay them each month. Negotiate a lower interest rate.
  9. Avoid wasteful spending. Budget for expenses that do not occur monthly, such as insurance, property taxes, etc. Include a portion of them in your monthly budget, so when the bill comes due you’ll be able to pay it. Do this for gifts as well.

Follow these steps and you will be free. For more in depth information on how to achieve these steps, check out the posts in this site related to these topics to help you.

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