Now that we have taken the steps to be free from cosigning and rushing into contracts, we should do what it takes it get out of debt. If we get in debt with no plans to pay it back, God considers you wicked (Psalm 37:21). It may take us weeks, months, or years to pay it back. Whatever the time period may be, to get out of debt we need a plan of repayment. . We need to make a list of all our debts and pay them off from the smallest to largest. Proverbs 21:5 says the plans of the diligent leads to abundance, but hastiness leads to poverty. If we work diligently, we will build strong character and strong character will build hard work and hard work will help us to be persistent.
This week we will focus on getting out of debt and keeping out of debt. If our expenses are more than 1/3 of income, we are probably in over our head in expenses and/or debt. If we have debt, it is probably impossible for us to limit our expenses to 1/3 of income. Since many people are imprisoned by debt, we should be willing to explore other ways to live than by paycheck to paycheck to cover our expenses. Imagine the bliss of living a debt free life and on less than we make. The goal for us is to get out of debt and stay out of debt.