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How to Get Out of Debt 2

How to Get Out of Debt

Step 2. Have a Written plan 

A written plan is absolute necessity for everyone who is in financial bondage.  Use a written plan of all expenditures and their order of importance. The order of importance is crucial because we have lost the point of reference between needs, wants, and desires. Let's examine the difference between a need, a want, and a desireNeeds. These are the purchases necessary to provide your basic requirements such as food, clothing, a job, home, medical coverage, and others. "And if we have food and covering, with these we shall be content" (1 Timothy 6:8).  Wants. Wants involve choices about the quality of goods to be used: dress clothes versus work clothes, steak versus hamburger, a new car versus a used car, etc. a point of reference for determining wants in a Christian's life is given in 1 Peter 3:3,4: "And let not your adornment be merely external - braiding the hair, and wearing gold jewelry, or putting on dresses: but let it be the hidden person of the heart, with the imperishable quality of a gentle and quiet spirit, which is precious in the sight of God."  We have developed a prayer Guide for Financial Peace.  Click Here to get your copy. 


Desires. These are choices according to God's plan which can be made only out of surplus funds after all other obligations have been met.  We read in 1 John 2:15,16, "Do not love the world, nor the things of the world. If anyone loves the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh and the lust of the eyes and the boastful pride of life, is not from the Father, but is from the world."

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