Helpful Steps for Getting Out of Debt
Money is tied intrinsically into every facet of our lives. We need it to feed, clothe, and entertain ourselves and our loved ones, and we can use it to support the causes closest to our hearts. Of the many things Jesus spoke about, money is one of the areas where we need to get our priorities right, as Jesus said these words, No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money – Matthew 6:24, NIV Money can become so all-consuming and god-like precisely because of how it can seemingly meet all of our needs. Loving money can end up leading you away from the faith and piercing your soul with many griefs (1 Timothy 6:10). When it comes to the topic of debt, it is helpful to understand the practicalities of handling money well, and it is also helpful to adjust our attitudes and mindset toward money that can often contribute to issues. Understanding debt Debt is when you owe a sum of money that you may have borrowed and need to pay back later. Usually, when a debt is paid back, you pay back the amount you owe, and an extra amount called interest on top of that. Debt is usually how people make large purchases that they couldn’t otherwise because most of us do not have large amounts of cash lying around to use. Thus, we use debt to buy a house, fund our education, buy a car, etc. Not all debt is the same, as some debt can help you meet significant needs. Few people could outright make purchases such as a home or a car, and to some extent, it [...]