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Are you in debt?
So many of us are. Getting out now should be priority one.
While there is no shame in borrowing to live, debt can weigh you down like an anchor on a sinking ship. And trust me. You will sink if you cannot get out of or at least control debt.
Although I’m tempted to think that trying to control debt is like having a pet tiger. Sooner or later it's going to bite you where it… Click To Tweet
Here are my 3 reasons for wanting to get out of and stay out of debt.
- Freedom From Many Masters.
Proverbs 22:7 says: the rich rule over the poor and the borrower is slave to the lender.
If we want real freedom. Then the path to that freedom is to live debt free. And, it is not just financial freedom. Being debt free gives one the ability to live a life filled with joy and abundance. It is freedom to serve your family and others. Freedom to be at peace with yourself and those you deal with on a daily basis.
Freedom to answer your phone when you want.
- Freedom to serve others.
If my money is going to all these masters(card), then there is none left after basic necessities to give. And that’s if I can still take care of basic necessities. When I live above my means, there is nothing left to share. I’m too busy playing catch up to care about others.
It’s understandable if money is just in short supply. Which is why it is important to spend less than we earn.
- Leaving a Legacy.
When we serve others we have the opportunity to leave a legacy.
We can learn some lessons from Theodore Johnson, the former UPS worker. Even though his highest weekly wage was just $270 per week he managed to leave millions to fund scholarships for underserved communities. Further, despite retiring with about $70 million, he continued to live modestly while still ensuring his legacy of funding college funds lived on after his death.
We can leave this earth knowing that we mattered to someone. At the very least, our children will have a roof over their heads. The courts will not have to sell all your belongings to cover your debt after you are gone.
So how do you desire to live? Will you choose to free yourself to live a joyful, giving life? Or will you remain powerless. Haunted and hunted by the creditors you unwillingly serve?
Free Useful Resource: Every Dollar Budgeting Tool (not an affiliate link).