Have you asked yourself, “Why be debt-free?” If yes, then you need to ensure that you are wanting to be debt-free for the right reason. God does not want you to be burdened by debt. He wants you to be debt-free, so you will not be a slave to the lenders. He wants to be able to use you to do His will. If you are debt, you are financial bondage. You are unable to pass on God’s blessings to other. God wants to have give to His people what He has supplied to you.
You are to bless those in need. If you are in need yourself, then you are unable to help others. You want to be debt-free to stop the endless stream of bills coming in with the words “PAST DUE” stamped all over. You want to be able to not have to think twice about helping others. You want the stress about not having enough money to end. You want to be able to provide for your children’s needs and maybe even some of their desires. You want the bill collectors to stop calling you. Basically, you want it to end.
Being debt-free is wonderful. Once you start telling your money where to go, you will be able stop wondering why you don’t have enough to pay your bills. I’m not saying that when you first create a budget, you are going to be debt-free. Of course you won’t. However, the budget allows you to see where you are spending your money. The debt snowball allows you to pay down your debt.
If you are not making enough money at your current job to pay your bills, then it’s time to look for a higher paying job or even a second job. You want to put the extra money to pay down and pay off that debt. You want to be able to let God give through you what He gives to you. A closed fist is only good for punching. Whereas, open hand allows you to give and to receive.