Advice To Help Christians Get Out Of Debt And Stay Out Of Debt

In these tough economic times, everyone has felt the effects of the recession to one degree or another, including those in the Christian community. The fact is, money is a necessary evil that is essential to our well-being on this earth. However, its improper management is inconsistent with Christian teachings, which is a fact that many good people either forget or neglect.

The concept of "stewardship" is an important part of the Gospel: Christians are taught and expected by the Lord to exercise stewardship over their families, their neighbors, their communities, and the earth as a whole to the extent of their abilities. However, proper stewardship is also expected of Christians in the area of money management: after all, if all we have is the Lord's, then is it not our ultimate responsibility to manage our assets by following correct principles? Here is a little bit of advice to help Christians get out of debt and stay out of debt.

Budgeting

Too many in the Christian community live paycheck to paycheck when, in effect, they only do so because they don't keep proper track of their funds and allocate them properly. If you have not done so before, now is the time to be realistic about your finances. Determine exactly how much after-tax income is coming into the home each month and then make a firm commitment to live within your means.

Sacrifice

Living within your means often involves sacrifice: you may not be able to indulge yourself with little extras or even luxuries as you once chose to. You may need to cut back on eating out or you may choose to vacation close to home instead of going to an expensive theme park or exotic locale. You may worry about denying your children the "things" they have been accustomed to receive: don't be. Make budgeting and sacrifice a family affair: kids who grow up learning self-denial due to economic reality will make better decisions later when they are adults themselves.

Get Out of Debt

Get out of debt as much as possible and by any means that is legal as well as ethical. This may take many years of effort, but it will be well worth it. In Proverbs we are taught that: "the slave is a borrower to the lender." Now is the time to break the shackles of debt once and for all and become more responsible stewards for the gifts we receive: cut up your credit cards if necessary.

Save

Every family should build up a $2,000 emergency fund that they never touch under any other circumstances. Over and above that, save as much each month as you can to prepare for leaner times that will inevitably come again.

Proper stewardship of our money is a fundamental part of Christian teaching that many have chosen not to follow, and the current economy has brought the consequences of unwise spending into sharp focus. It's never too late to change our ways: now is the time.