It's easy to say, "Get out of debt," but that is the quick answer. To actually do so will take determination, sacrifice, and time.
What should a Christian who is in debt do?
First, pray for wisdom. The Bible says to ask for wisdom from God and He will provide it (James 1:5). Then determine to trust God for help and be ready to obey His leading.
Then, get to work.
The first step to take is to create a budget. Know how much money you have each pay period, what your bills and responsibilities are, what needs you have, and what you can apply toward debt. You must make sacrifices at this step to eliminate as many expenses as possible. Cut down on your entertainment, your TV or streaming bill, and any other bills you can remove or reduce. Your focus and priority must be on paying down your debt. Most debt counselors say to focus on your smallest debt and try to eliminate it quickly, then focus on your next smallest debt.
Commit to following your budget, and address these issues as well:
Continue to tithe or contribute to your local church and ministries. Determine what amounts and organizations to support. "Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver" (2 Corinthians 9:7).
If you don't know how to go about aggressively eliminating debt, seek wise, godly advice. Your church may be able to refer you to a godly financial counselor or someone trained to help you. You might also look at ministries such as Crown Financial Ministries for assistance.
Contact everyone you owe money to and ask them to plan with you to eliminate the debt. Ask for lower rates or payment reductions. Get some help to negotiate your debt.
Exercise discipline in spending and in eliminating your debt. You might ask fellow believers to join with you in prayer and also help keep you accountable to your plan. Continually ask the Holy Spirit to produce the fruit of self-control within you (Galatians 5:22–23) and ask God to bless your plans to honor Him (Proverbs 16:3).
Remember to continually go to God when you begin to waiver or worry. "Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God" (Philippians 4:6). And remember to continue to give thanks to God, even in this difficult circumstance. "Rejoice always, pray without ceasing, give thanks in all circumstances; for this is the will of God in Christ Jesus for you" (1 Thessalonians 5:16–18).
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