Excerpts taking from Hostile Takeover – Manifetsing God’s Plan and Purpose for Your Finances
1. Compile a list of all your debts from the smallest to the largest in value so you can determine what can be paid off quickest.
2. Cut up your credit cards and keep one for an emergency. Determine which credit card you need. Most department store cards have high interest rates. Credit cards should be used for emergencies and for making reservations, such as airline tickets and hotel reservations. You should be able to pay off the balance within the credit card cycle. If you are not able to do this, you may need to switch to a debit card, which is an excellent opportunity to control spending since the payment is taken from your checking or savings account. This will really control your spending.
3. If you owe a large debt and are having a difficult time living day to day because your expenses are too great, consider selling something in your household of value to pay off that particular debt. Proverbs 10:22 states, “The blessing of the Lord, it makethrich, and he addeth no sorrow with it.”
4. Occasionally help others to pay off debt through alms. Luke 6:31 says, “And as ye would that men should do to you, do ye also to them likewise.” Allow God to direct you to pay debts for others. As I said earlier, you are not responsible for everyone, only the ones God shows to you. As you lend money to others, he will lend money to you according to Proverbs 19:17.
5. Be patient. All debt will not be paid off instantly unless God decides to do so. Patience is the key. James 1:4 tells us, “But let patience have her perfect work, that ye may be perfect and entire, wanting nothing.” Patience is perfect; patience has no timeline. God’s work is perfect because He knows the day and timing when you will come out of debt.