Debt Help Ideas

As a Christian, one of my top goals is to eliminate debt. I take Romans 13:8, “Owe nothing to anyone except to love one another; for he who loves his neighbor has fulfilled the law,” very seriously.

I have heard a couple of pastors, who I trust and respect, explain that passage refers to unsecured debt such as credit cards. They believe that careful debt on real estate property is acceptable as it is a business transaction. I pretty much agree with them, however in light of the current economic turmoil I am seriously rethinking that policy!

Unsecured debt is definitely one of the worst types of debt to have, though. Credit cards can be great tools if used wisely, with much self-control. You can actually save money with a free, frequent-flyer credit card if you pay off the debt each month.

If you don’t pay it off monthly and instead have to pay interest charges on the monthly balance, I would encourage you to put the card in a plastic container full of water and pop it into the freezer. You’ll still have it for emergencies but it will make you slow down and think through whether you really need what you want to buy.

This is one of many great tips that can help you eliminate debt!