How to Live Debt Free (Episode 8)“A Biblical Perspective on Debt” by Focus on the Family:The Bible doesn’t say it’s a sin to borrow.It doesn’t say it’s wise to borrow.It doesn’t say God will bail you out of debt.It doesn’t say debt is an exercise in faith.It doesn’t say it’s a sin to loan money.What does the Bible have to say about debt?It’s wrong not to repay debts.It’s foolish to put yourself in a surety situation.Debt may violate biblical principles that directly affect our relationship with God.What do you do if you find yourself in any kind of consumer debt?Pray and wait on the Lord for an answer.Follow a proven debt elimination plan (See: Financial Peace Revisited for more information.)Baby Step 1: Make every effort to get $1,000 in your emergency savings fund.Baby Step 2: Pay off all personal debt except your home.Baby Step 3: Save 3-6 months of worth of expenses in your emergency fund.How to keep from getting back into debt:Be content with what you have.Pray before any major purchaseMaintain a zero balance on all credit cards, or don’t use them at all.Recommended Course: Financial Peace UniversityThis was a financial life-changer for us as we raised our five children. To this day, we have no consumer debt, no student loans, and no car loans--just our mortgage.Recommended Book: Financial Peace RevisitedPurchase this book if you are unable to attend the course.All 7 “baby steps” are in chapter 21, then you’ll find some financial management forms in the back of the book.Other Financial Articles by Stewardship and RomanceFinancial Freedom God's WayThe Blessing of GivingHousehold BudgetingHow to Live Debt Free (detailed notes)To leave a testimonial or ask a question: Contact Us