“Jabez cried out to the God of Israel, “Oh, that you would bless me and enlarge my territory! Let your hand be with me, and keep me from harm so that I will be free from pain.” And God granted his request”. 1 Chronicles 4:10
If you find yourself selling assets to pay off debt thinking that by getting rid of the payments you would then have more money for the rest of life, think again.
The reason people have debt is because for whatever reason, their spending has exceeded their earnings. This could be caused by a little imbalance over time or it could be the result of a temporary situation like a medical issue, unexpected bill, or slow work. The reality is that your overall financial management didn’t account for a contingency plan. If you simply pay off the debt, the habits and income shortfall that led to the debt will remain and it will only be a matter of time before you end up looking for another big cash injection to pay off bills or accumulated debt again! This pattern leads to a pattern of selling assets, chasing windfalls, or attempts to sacrifice hopes and dreams. This final attempt can also lead to searching for fulfilment in other ways like self-centered spending, entertainment or addictions. The problem won’t be solved by the same level of thinking that created the issue.
Your first strategy is to recognize that financial situations aren’t solved by decrease. Long term sustainability means looking at the situation from God’s perspective: creative, organized and increasing. This means a creative look at rearranging assets, liabilities, income and expenses. It also means creating a systematic flow for all money coming in and going out if your home. Finally, it means increasing your income to cover your ongoing lifestyle expenses including the immediate needs which include the debt payments and a contingency plan, giving and contributing to the causes God has placed on your heart to fulfill.
Begin to understand how to see personal finances from a new paradigm that increases your capacity to earn purpose-driven income today, register now for the Moneyology Course preview program at www.financialgrace.org/Moneyology