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Do you desire to have financial freedom and walk in prosperity all the days of your life?
Do you want to live a debt-free life void of insults, embarrassment and disturbances of angry creditors?
If your answer is yes, then this post is for you.
Many people are indebted to the throat, so much that no matter how much they earn and struggle in their business and career, they seem to be going nowhere because of the heavy weight of debt hanging on their head.
Right now there are millions and thousands of people around the world who are suffering from high blood pressure and heart attack as a result of the heavy load of debt hanging on their head.
Debt is not a good thing. A debtor is a servant to the creditor.
When you owe somebody, each time you see that person, you will feel somehow. There is no life sweeter than living a debt-free life.
It is possible to live a debt-free life. Not everyone is owing.
I am not owing any bank or any individual under the sun.
The 50,000-Seat Capacity Auditorium of Faith Tabernacle, Canaanland, Ota Nigeria, was built debt-free without any loan from the bank within one year.
Who says, you can’t run your business, company or ministry without borrowing?
Where did you get that mindset that you can’t accomplish great projects unless you become a debtor to someone?
In this post, I want to show you how to come out of debt and reclaim your peace of mind.
Read every line very carefully, your journey to financial freedom is about to begin.
1. Make a Decision against Borrowing
“For the Lord thy God blesseth thee, as he promised thee: and thou shall lend unto many nations, but THOU SHALT NOT BORROW; and thou shalt reign over many nations, but they shall not reign over thee” Deut 15:6
If you want to come out of debt, the first thing you must do is to hate borrowing.
Those who like to borrow will find it difficult to live a debt-free life. You must deliberately take your decision against borrowing and stand by it.
The day you make a vow against borrowing is the day you will eventually come out of debt. “THOU SHALT NOT BORROW”, is not a suggestion, it is a commandment for anyone who wants to come out of every debt.
Even if it means wearing one shirt for one year, thou shalt not borrow. No matter the circumstance and no matter who is involved, thou shalt not borrow.
Between being a lender and a borrower, make your choice. A debtor is never a king. Every debtor is a slave to his creditor.
If it means eating your food without meat, refuse to borrow. God wants to bless you according to the promise He made to your father Abraham and He wants you to lend unto many nations. "But you shall not borrow" is your own responsibility.
2. Don’t live to Impress People
Many people go as far as buying things on credit and borrowing different kinds of things to impress people.
If you want to come out of debt, you must stop living or doing anything to impress people. You can’t impress people and oppress yourself.
If you succeed, you succeed for yourself and if you fail, you fail for yourself. People’s opinion doesn’t matter, what matters is your happiness and peace of mind.
If you borrow to make people think you are rich only to put yourself into debt and poverty, how market? It’s sheer stupidity.
3. Be Content
If you want to come out of debt, you must learn to be content with who you are and what you have where you are.
Whatever you have now is the best for you. Anything you don’t have now, you don’t need it.
“Godliness with contentment is great gain” 1 Tim 6:6
Contented people are debt-free people. Lack of contentment is the reason why people borrow money to buy new shoes and clothes when there is no need for that. Contented people are satisfied with whatever they have.
4. Conquer Greed
One authentic proof that you have conquered greed is to live a debt-free life.
Greedy people will always be indebted to the throat.
Greed makes you to buy what you really don’t need.
When your expenditure is greater than your income, it’s not satanic manipulation, it’s the work of greed. To come out of debt, you must conquer greed.
5. Let Your Income Determine Your Lifestyle
No matter how little your salary or income is, there is always a shoe, clothe and bag in the market that is as the size of your income.
Your income should be a major determinant of your lifestyle, not the big boy’s syndrome.
The big boy’s syndrome has put many people into irredeemable debts.
You can’t be buying drinks for everybody you see when your income is nothing to write home about. If you continue like that, you will incur debts you cannot pay on yourself.
6. Don’t Buy anything on Credit
If you want to come out of debt, make it a habit never to buy anything on credit.
Anything that you can’t pay for now, leave it until you get the money to pay.
When you don’t buy anything on credit, you will discover that you will hardly owe anybody.
Debt is always pregnant. If you owe for one thing today, tomorrow you will owe for another thing. And your debt will keep increasing.
Anything you can’t buy today, you can buy it tomorrow. Don’t throw your peace of mind and happiness away by entering into debt just to satisfy a temporary want. Say no to buying things on credit.
“Owe no man anything, but to love one another” Rom 13:8
7. Plan and Manage well
If you want to come out of debt, you must learn to plan and manage your resources very well.
A waster will end up a debtor.
Don’t be a waster of resources. God hates wastes. Jesus after feeding the multitudes commanded them to gather the left over so that nothing was wasted.
You need wise planning and good management to live a debt free life. The scripture says,
“Through wisdom is an house builded, and by understanding it is established: and by knowledge shall the chambers be filled with all precious and pleasant riches” Prov 24:3-4
You don’t need to wait until you get all the money to manage well.
You manage well to grow big. Start with the little you have now.
Stop spending everything you have at will.
Learn to differentiate between needs and want. You need divine wisdom to become a smart planner and manager.
Wisdom will help you understand that what really puts people into debt is spending on liabilities , instead of acquiring assets.
Refuse to spend foolishly. Make every dime that enters your hand to count. If you must be a lender and not borrower, then you must cultivate the habit of savings and investing and curtail the habit of frugal and impulse spending.
Prevention they say is better than cure. The early you decide against borrowing and debt, the better for you.
If you are owing anyone, start from today to make efforts to pay. You can pay some debts installmentally. If you start paying little by little every week or month, before you know it, you are free at last.
It is a sin for you to owe someone money and refuse to pay.
If there is any debt you are owing that is bigger than you, as you desire to pay off your debt and make meaningful effort to pay it, I decree that by divine favour your debt be miraculously cancelled in Jesus name.
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Damian
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