Biblical Debt Free Living | Best Tips

Living A Debt Free Life

Biblical Debt Free Living | Best Tips – Everyone wishes to have wealth, to be wealthy and live a comfortable life. We live in a society which dictates our achievement and future by how wealthy people are.

We strive hard to work smart, spend and create positive progress in lifestyle that can lead us into the right path because we fulfill all our goals and aims in life. We occasionally request soft loans from friends, family members or Sacco group and sometimes use for loans from banks.

How a lot of you are now fighting debt? Perhaps it’s from student loans maybe it’s because of credit cards. No matter the reason may be, this should be the year which the debt free living becomes a priority. This must be the year which you let debt goodbye permanently.

We can chat about how we need living, however, it requires more than just speak. It requires action. Kicking debt from your life is not as difficult as you might think. It simply takes a good strategy and a great deal of dedication.

Debts can seriously break your financial progress and cause you to wallow in the swimming of doubts and concealing from your friends or cooperatives that you are owned. So what do you really need to do in order to start your trip to debt free living? It’s easy, you have to follow these eight measures.

Step 1. Know that you have invoices to repay and pay them

As long as you live in the modern world, you will have bills to settle. When you get your bills, kindly choose a bold step and pay enthusiastically. You need to be eager to settle that which you’re owned.

It’s a matter of fact that you should not pay painfully. If you cover unnecessarily, you are simply dance to the song that the cash is tough to get and you are not happy with the turnout of items.

Step 2. List all your debts

Begin by listing out all those debts by their own interest rate. The maximum rate is going to be on very top of your list. Why? Since it’s the debt costing you the cash each month.

Now that you have everything on paper, you now have a visual concept of what is ahead of you. You can see that debt you’re likely to focus on first, next, and so on down the record.

Step 3. Start establishing an emergency fund

Have you got an emergency fund set up for yourself? Otherwise, it is time to find a savings account.

Emergencies are bound to happen to all people. It might be dental function that insurance will not cover. Perhaps your car decided not to startout. By having a rainy day fund, all these surprise expenses won’t cause a significant setback to your financial plan.

How much should you have in your emergency fund? Some folks will tell you which you need three to six weeks worth of costs. Though this is a great long-term aim to get, it isn’t reasonable when paying off debt.

Instead, start off small putting away money each month until you have $1,000. This is an excellent place to begin. Once you’ve become debt free you can begin adding additional money for this.

Step 4. Put your bills on autopilot

We’re all searching for ways to simplify our lives. Automatic payments are one of those ways. Instead of making a payment every month on every bill which you have, you can set it and forget it.

There are several advantages to automating your lifetime. Not only will you make things considerably easier on your own, but you’ll decrease the probability of having a late payment. The last thing that you need as you’re working so hard to repay debt will be a wasteful charge.

Step 5. Downsize your own life — temporarily or permanently

The last thing many people need to do is remove the things we like. But, there are times when it’s the ideal thing to do.

Begin with taking a look at the funding you’ve made earlier. Are there things you might do without, even if it’s just while you’re paying off debt?

What on your cable television? Did you know the normal cost for DirectTV is almost $101 a month? With alternatives like Sling TV or Netflix, you may cut the cord and never go back.

The average American will pay $232 a month ingesting a meal beyond the home. Imagine if you cut this in half? The additional $116 monthly could be very useful for your debt payoff plan.

Step 6. Move your credit card balances

Many of you have probably ditched your credit cards at this point. However, you might be amazed to know that a credit card might actually be to your advantage.

In case you have several high-interest balances, you can use a balance transfer to transfer everything to one card. Most balance transfer credit cards may have an introductory 0% APR offer. This can help you pay down your debt without accruing finance charges on the way.

Step 7. Track your spending

The key to living a debt free existence will be to clearly understand how much you spend and the amount you save in precisely the same time. You must monitor your cash flow and in the end of the day that you will get to understand and have assurance of all your financial spending.

Step 8. Have a look at your own insurance and examine it

Financially and debt advisers always tell their clients to be keen on their insurance and examine its strategies consistently. You want to look at your life insurance needs. You have to follow it to check it covers more than 10 occasions of your earnings. When you have children over ten decades, then your life insurance must also pay on debts incurred by the larger family.


These are the most proven ways that will easily assist you get out of debts. You will need to come up with a strategy and understand that bills are there to be settled. Whatever money you borrowed, so be ready to pay as per the order of arrangement rather than about pilling debts because they’ll come to affect you later in life.