Here are three steps you can take to deal effectively with debt.
1. Start digging yourself out. It’s disheartening to find bills piling up on your doormat every day, but you need to know the bottom line. List your debts from the highest interest rate to the lowest. Try to pay as much as possible towards the highest and the minimum towards the rest. Make a start, no matter how long it takes; there’s too much at stake not to.
2. Model sound financial principles for your children. Be open with them and explain that electricity, food, toys and clothes cost money, and that the reason you’re not driving the latest car is because you can’t afford it. Your children are making money memories now, so teach them diligently.
3. Give, and it will be given to you…’ (Luke 6:38 NAS)
Suze Orman says, ‘One day I was in a terrible funk. I turned on the TV and happened to catch a fundraiser. I picked up the phone and pledged as much as I could. Those people needed money more than me. Immediately I felt like a burden had been lifted. From then on whenever I felt down, I’d give… and I’d feel better. Amazingly in every instance the amount was showered back on me tenfold.’
The rewards of giving aren’t always financial; sometimes it’s the sense of freedom and purpose that comes from doing it. Plus, money should never be so important that you can’t let it go. Remember, by helping others you’re paving the way for God to ‘supply all your needs’, and His shovel is much bigger than yours!