Debt

“I’ve tried more than once to get out of debt and it never seems to work. How do I develop the discipline and stay motivated to get out of debt?”

One of the first things you should realize is that climbing your way out of a debt hole is not always a piece of cake.

When you finally decide to take the step of getting yourself out of debt, it’s easy to be intimidated by the huge goal you’ve presented for yourself.

Part of living life as a modern adult includes making important financial decisions, some of which can have long-term ramifications for an individual. The choice to take on debt can have positive and negative ramifications in an individual’s life.Debt is a financial situation where someone borrows money in order to make a purchase in the present because they cannot currently afford it without assistance; the money has to be paid back later to the lender, usually with interest, or additional cost, added to the total borrowed.Modern life puts people in a place where many feel they must take on debt, but the Bible cautions people about this. Debt means an individual is not free to make all their decisions autonomously, because they owe money to someone else. It also means people have difficulty saving, and much of their money is not their own while they pay off the debt. While biblically, there is no overt ban of taking on debt, it is discouraged so the believer can make decisions based on God’s will, and not on owing another person money.Photo credit: ©Getty Images/Stas_V

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