Daily Reading
Return to Blog
July 27 - Summary
27 Jul, 2016
"Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you” - Hebrews 13:5 NIV
"And my God will meet all your needs according to the riches of his glory in Christ Jesus" - Philippians 4:19 NIV
![]()
Goal number 2 was to be debt free.
In this materialistic, money-oriented society, men and women place a high priority on possessions, earning power, and lifestyle. Those who cannot afford to live as they would like to will borrow or go into debt to secure those things that they feel they must have.
A person or a family living in debt – on borrowed money – is really living today on funds expected to be earned in the future. If any life changes occurs, then serious financial embarrassment can result.
There are several ways to establish debt freedom.
1. Establish a family budget.
Aspire to live below your means:
“Then she came and told the man of God. And he said, “Go, sell the oil and pay your debt; and you and your sons live on the rest.””
II Kings 4:7 NKJV
2. Set goals for your family. Treat your family finances as a business. Establish debt-reduction goals.![]()
3. Destroy your credit cards if you are not able to discipline yourself to pay them off every month or if you find yourself using them to buy items that would not be a part of your regular budget.
4. Purchase depreciating items with cash.
Brand-new cars, second-hand cars and gadgets such as iPhones, iPads, computers are depreciating assets. Use cash to buy these. Use your savings as your source of cash.
5. Begin economy measures. Don't go grocery shopping when you are hungry. Save electricity when you can. Don't eat out as often.
6. Have a sale. Have a yard sale or go to a car boot sale. Sell 'stuff' items in your house that you don't need and you don't use, then use the money generated to pay off your debt.
7. Read good money management books. The Bible is a good money management book. It directs you to your source of hope and power."And my God will meet all your needs according to the riches of his glory in Christ Jesus" - Philippians 4:19 NIV
Goal number 2 was to be debt free.
In this materialistic, money-oriented society, men and women place a high priority on possessions, earning power, and lifestyle. Those who cannot afford to live as they would like to will borrow or go into debt to secure those things that they feel they must have.
A person or a family living in debt – on borrowed money – is really living today on funds expected to be earned in the future. If any life changes occurs, then serious financial embarrassment can result.
There are several ways to establish debt freedom.
1. Establish a family budget.
Aspire to live below your means:
“Then she came and told the man of God. And he said, “Go, sell the oil and pay your debt; and you and your sons live on the rest.””
II Kings 4:7 NKJV
2. Set goals for your family. Treat your family finances as a business. Establish debt-reduction goals.
3. Destroy your credit cards if you are not able to discipline yourself to pay them off every month or if you find yourself using them to buy items that would not be a part of your regular budget.
4. Purchase depreciating items with cash.
Brand-new cars, second-hand cars and gadgets such as iPhones, iPads, computers are depreciating assets. Use cash to buy these. Use your savings as your source of cash.
5. Begin economy measures. Don't go grocery shopping when you are hungry. Save electricity when you can. Don't eat out as often.
6. Have a sale. Have a yard sale or go to a car boot sale. Sell 'stuff' items in your house that you don't need and you don't use, then use the money generated to pay off your debt.
This is a slightly modified excerpt from the book "It's your Money! Isn't it?"
By Pastor and Christian Attorney G. Edward Reid
I thought this music fitted just right - "My Life is in Your Hands" - Kirk Franklin. Click on the picture to listen.
0 Comments
Add CommentAdd your comment
To add a comment you need to login or register.