Is it normal to have debt?
Doesn’t everyone have debt?
Is debt really all that bad?
The answer to these questions depends on your perspective on debt.
Proverbs 22:7b “… the borrower becomes a slave to the lender.”
Some translations say “slave”, and some say “servant.” The Hebrew word used is “ebed” and refers to slavery in the form of indentured servitude. It carries the notion that someone has a right to the time and income of another individual until the debt is repaid.
Have you ever heard anyone say they are going to work for the bank, credit card company, and student loan company? Being in debt feels about like indentured servitude. You work hard, but your company might as well send your paycheck directly to your creditors.
Before you can get relief from debt, and stay out of debt there is a debt switch that must be flipped.
The Path to Debt Relief…
Imagine an old-fashioned train rail switch. There were these huge metal levers that would be flipped from one position to another that would cause the tracks to switch to a different path. That is what happens to us when we flip the debt switch. We get to the point of saying that the credit card company can have their reward points; we’ll use being and staying debt-free as our reward. The switch may be big and make a significant difference in the course the rest of your life takes, but it needs to be flipped. Get the scissors out tonight, cut up the credit card(s), and flip the switch!
Eating the Elephant
Do you know how you eat an elephant? You eat it one bite at a time. Jason’s personality says let’s eat the whole thing and don’t stop until we are done! The truth is that getting out of debt takes discipline and faith.
Do you want to be out of debt? Great, now you have a goal. When do you want to be out of it? Put specifics around it, make an agreement with your spouse, and write it on paper. It is amazing how the act of taking the time to write a goal makes so much difference.
If your focus doesn’t drive you to change your lifestyle in order to accomplish the goal, you probably will not be successful. We’re convinced desire is 90% of success.
There is something significant to taking drastic measures and allowing God to focus your attention on a single financial goal. Do you know someone who has lost a significant amount of weight? Now that they are on the other side they are faced with the same temptations as the rest of us. They see the cupcake shop on every corner, the all you can eat, and then some buffet and the glorious flashing light indicating fresh doughnuts are available. The way they resist overindulgence is to remember how hard it was to lose the weight. They live with the “I’m never going back” mentality. This is true with getting out of debt. Read more on the “why” of being debt-free here.