In 1992, we had over $135K in debt including a $76K mortgage. We were strapped and searching for a way to avoid financial troubles ahead. The Holy Spirit helped us see that a person will perish (suffer lack and other consequences) when (a) he/she does not have God’s vision for his/her life, (b) gain appropriate spiritual and practical knowledge, and (c) by faith walk in godly wisdom with regard to lifestyle and finances.
We accepted Christ into our lives and learned that God desires His people to be debt-free and abundant givers. We started tithing, offering, and budgeting so within the next few years we could get to a point of living on less than 50% of our pay. We made painful choices to cut spending and used newly found disposable income to eliminate our debts. The LORD helped us get out of debt quicker than we thought possible by supernaturally orchestrating a few promotions and raises that increased our income.
We have not had car notes since 1996, have not paid interest on consumer debts since 1997, and paid off our mortgage in January 2004. We experienced terrible economic periods during 2000-2002 and 2008-2010. We refused to cut tithing and offering and continued to utilize a giving, saving, spending plan (budget) that helped us keep outgoing expenses below take-home pay so our upkeep (lifestyle cost) would not be our downfall. By the grace and wisdom of God we cut unnecessary expenses so we could continue to give over 25% of our gross income and save over 25% of it. Aiming for a debt-free lifestyle and deciding in our heart that we would remain that way throughout our lives is the key to being able to live very comfortably on one-third of our gross income. We agreed with the word that being in love with the world was to be at enmity with the LORD and that the abundance of life does not consist in the material things one could get.
We know people can overcome severe economic problems and avoid giving all their would-be-wealth to creditors when they engage the debt-free lifestyle the bible speaks of as available to everyone. In order to embrace it you must stop believing society’s lie that everyone must have debts and continue to seek more debt as they move through life in order for their lives to be worthwhile. The devil is a lie!
Please pray for this ministry, email me with any questions, and contact me to speak at your business/ministry’s conference/workshop. May the LORD bless you richly as you follow His plan!
Genesis 14:20, Psalm 75:6-7, Proverbs 22:6, Matthew 23:23, Romans 13:8, Hebrews 7:8
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