Debt-Proof Your Life – Talk 1 – Debt Proof

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* God is bigger than whatever you are facing right now.
Deuteronomy 28:12
“The Lord will open the heavens, the storehouse of his bounty,
 to send rain on your land in season and to bless all the work of your hands.
 You will lend to many nations but will borrow from none.”

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– Points to Ponder
1. Storehouse of blessings for you
– Do you daily walk in that storehouse? The storehouse of blessing is waiting for you
2. There is gonna be a rain of blessings on your life
– Are you able to catch the blessings?
3. There are seasons in your life
– It’s ok to have no rain — it’s part of growth
4. To bless the work of your hands
– Your blessing will come from your work
– Sometimes you are not working in the right thing.
You need discernment to be able to wrk on the right thing
5. Lend to many nations but borrow from none
– There will come a time that you have so much that you wont need to borrow from other people

* There are many good people who are prayerful, kind, but are burried with debt
* Salary does not fit the needs to many Filipinos
* You gotta earn more
* This teaching is not common specially in church
* No matter how you increase your income, if you are not disciplined
1. Commit becoming debt free now
Psalms 37:21
“The wicked borrow and do not repay,
      but the righteous give generously”
– How? Little by little, inch by inch
– Paying your debt is a commitment to God
2. List down your debt including the interest
– Setup a repayment plan for your debt
– Go through your list and look at your smallest debt
– Pay the smallest debt first – create momentum
– Scratch the small debt
– More practical way is to pay the highest interest first
– Talk to your creditors. Some wants to avoid your creditors
– Ask creditor for better terms
Proverbs 16:7
“When a man’s ways please the Lord, he maketh even his enemies to be at peace with him.”
3. Add no new debt
– Simplify – spend less from what you earn and invest the difference
– Example in Grocery shopping
– have a list and stick to it
– Dont have a long list
– Dont bring your kids
Utilities – lessen your electricity bill
Clothes – dont buy expensive clothes
* If you have a credit card and dont have the discipline, dont use them
* For credit card holders, pay the whole bill at the end of each month
Proverbs 22:7
“The rich rule over the poor,
    and the borrower is slave to the lender.”
You can borrow for your business, but dont be too aggressive in borrowing.

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