Do You Want To Be Free?

“The rich ruleth over the poor, and the borrower is servant to the lender” - Proverbs 22:7. Are you a Christian that would like to be set free as a servant to lenders? You can be - anyone can be - if you really want to and are willing to pay the price. This price is greatest at the start of the program. Dave Ramsey makes a statement that is so true, “If you will live like no one else, later you can live like no one else”. Everyone must answer three questions: (1) Do I want to be free from debt? (2) Do I really want to be free from debt? (3) Am I willing to do whatever it takes to be debt free?

The first step in becoming debt free is forming a budget. Your budget is your guide that you will follow religiously. A budget accomplishes at least three things: (1) A budget makes you accountable for your finances. A budget reveals what you do with your money. When setting a budget it is often shocking to see where you have been spending your money! (2) A budget will keep you honest with yourself and your spouse. It is easy to fudge with money! Spending a little here and a little there is easy without a budget. (3) A budget will keep you on tract to reach your goal of being debt free, building money for financial security and preparing for retirement.

Your first budget will by nature be your most strenuous budget you will ever live by. Pay the price! It will be worth it in a shorter time than you think. After your first or second goal is accomplished, you may be able to re-establish your budget.

The first step in designing a budget is to fill out a “Household Income” sheet. This is important as it reveals the total amount of money you have to work with.

The second step is more difficult. Now it is time to list your debt and expenses. As a Christian you should first list your tithe. Then your offerings, missions giving, faith promise, bus kids LCS scholarship and all other giving. Then make your list of all expenses and debt. If you fail to list one debt it will throw off your budget! Remember all insurances, credit cards, child support, child care, auto care, entertainment, food, dining out, subscriptions, and etc.

After carefully listing your debt and expenses for a month, you are ready to set up your budget. Initially the best way to manage your budget is by the envelope system. Using cash you deposit each month in the designated envelope, you spend and pay debt and expenses from money from the envelope. This is a simple plan but it works!

Keep your plan simple! Remember your goal is to “owe no man anything” and that means debt free!

UNTHINK Money: Ways to Waste Money - Buy new instead of used.
Cars lose most of their value the first few years. Buying a two to three year old car is a better deal most always. Buy used furniture, used books, toys, exercise equipment, and yes, even Goodwill clothes!