Getting out of debt...staying out of debt

As I began to close down my computer last night, I briefly glanced at an e-mail from a friend at church. He gave a brief testimony how the Lord helped him and his wife pay off $37,000 of debt in one year! I was happy for them...and a bit jealous. My wife, Susan, and I have had some occasional victories of paying off debt and building up savings. But those occasions are often too fleeting. How quickly we go back into debt and backslide in our determination to stay within our means. We're re-modelling our den and want so badly a couch that we saw at a store this week. But we don't have the funds to pay for it in cash. Do we borrow a little and try to pay it off in a few months? Or do we wait? My friend's testimony makes me think we need to wait. Perhaps that's the Lord speaking to us through him.

Don't you find this debt-conquering and debt- resisting to be a constant battle? So do I. One thing that helps me resist the "conspicous consumption" of our cuture is reading biblically-based and practical books on viewing money from God's perspective. After all, He truly owns it all. Anything we have in the bank or in retirement or in assets all belongs to Him. It's merely on loan to us, and for us to manage well.

One such book is Dave Ramsey's Financial Peace. His website and radio show are great (see daveramsey.com). And I love the tapes based on this book. He is fun, inspiring, encouraging and yet in-your-face (in a loving sort of way) about how to go against the tide of our debt-addicted world. I love the "Baby steps" that he gives as practical ways to dig out of the hole of debt and find that financial peace (build up a minimum of $500 in savings, never get a mortgage for more than 15 years, work on the debt payoff snowball).

The other book that packs a punch in the money department is Randy Alcorn's short but powerful The Treasure Principle. His testimony is convicting -- having his wages as a pastor garnished because he had the guts to protest an abortion clinic. He offers outstanding insights from God's word and his experience about how to be freed up from debt in order to give away money for the glory of God.

Okay. It's the first of the year. Time for new year resolutions. I'm committed once more to get out of debt. I probably won't match my friend's achievement -- but by the power of the Holy Spirit can take more baby steps in getting out of debt, and staying out of debt, His way.

I'd love to hear how you resist the impulse to buy more, charge more and want more. Let's encourage each other towards financial peace.

Jim