What does it take to live debt free.

[Usernametaken]

In other words. No credit card or loan debt.

With the possible exception of your house?

 

[Blueberrymuffin09]

a good paying job

 

[Simon Peter]

Give generously, and spend less than you earn.

 

[Svt4Him]

If your outflow
is greater than your income
then your upkeep
will be your downfall.

 

[Tobias]

As a missionary kid I have seen people around the world live on the smallest of incomes. It never ceases to amaze me to watch Americans, with some of the highest incomes on the planet, unable to live within their means. Even the poorest of the poor in this country, are many times richer than the wealthy person elsewhere that the entire village looks up to in envy.

I have never had a problem living debt free, and am grateful for the many things I do own. It has been difficult for me to take on a house payment, but I realized that it is more financially sound than renting. I've even tried buying a few cars that I needed loans for; but that has been more for the sake of fitting in and living more like an American than what I'm generally comfortable with. Also, a good car is useful for many years, so why stress over paying for it all up front?


So how do we live debt free? And a bonus question, how do fat people loose weight? One solution would be to go live for a while in another country, and watch a few people starve to death because they truly have nothing. Then we would see just what our priorities are in life, and realize that it is possible to live within our means no matter what our income may be!

We just have to spend less, and eat a little bit less; and two of our major worries will completely go away! (Now, back to my stupid New Year's diet... )

 

[Deba]

For me to live debt free for the last decade, it took faith that God will always provide what He wants me to have. Some seasons have been uncomfortable, but He always brings me through to a good season.

If I had not been debt free 7 years ago, I could not have obeyed God's call to come to Laos. Sad to think that debt could have kept me from living such a fulfilling life.

 

[New_Wineskin]

In other words. No credit card or loan debt.

With the possible exception of your house?

The house should not be an exception . What has taken place in the last few years shows this .

Watch what you spend . Save what you can . Make a budget . If , after saving and having money ready for the next bills you happen to have some money left , use it to splurge or give it to the needy or save that , as well .

 

[parsley]

Someone taught me years ago that keys on the keyring are good for one's pride, but create more work.

We like to collect more vehicles, more rental properties, more storage boxes, access to clubs... we even collect more jobs. But each one of those creates new things to attend to, more complexity in taxes to report, more people to buy gifts for, more seminars for improvement.

We shouldn't be a slave to our possessions. If we see them starting to own us, instead of us owning them, then there's room for improvement.

We can fight the temptation to look approvable, and to define ourselves by what people see surrounding us. Many of our motivations come from a need to impress others or prove our worth. Sometimes we just like to show we are trendy or innovative or environmentally conscious, or have proper taste. But if everyone is competing, then we create our own keep-up-with-the-Joneses nightmare.

Think of some simple ways we compare with friends: "Did you see that movie?" "I just got the game release," "You're still using a b&w e-reader?" "just use your gps" ... these innocent statements can appear as jabs if we're working too hard to compete.

If Americans are as guilty as we appear in this area, then when we fast, our best plan might not be about food. It might be a narrowing of what we imagine we need to get through our day.

- Drive-through coffee
- Another pair of earrings
- Music download
- Specially scented hand lotion
- A ribeye steak instead of a lower-fat choice
- Gas and time to see a concert out of town
- A house purchase that fits our goals instead of our current needs

 

[tturt]

There are thousands of suggestions on line, also. Some topics such as purchasing a new vehicle have pros and cons while to incorporate some suggestions just requires discipline, determination, and awareness.

It was proposed as a forum at http://www.christianforums.com/t7598392/

 

[Faulty]

I discovered the way not to have credit card debt is to not have a credit card. If I don't have the money, I don't buy it. Life goes on.

 

[parsley]

"Life goes on" is such a workable motto. I look through my house at some of the things I don't use, and remember how compelled I was to make sure I had it. Trying new skills, making sure I had supplies and tools I would need. But the more we have, the harder it is to find the object when we need it.

 

[parsley]

For me to live debt free for the last decade, it took faith that God will always provide what He wants me to have. Some seasons have been uncomfortable, but He always brings me through to a good season.

If I had not been debt free 7 years ago, I could not have obeyed God's call to come to Laos. Sad to think that debt could have kept me from living such a fulfilling life.

Deba, your testimony is a great example in action. You are living in an area where standards and values are different, and even though you had moments of lack, you were not immersed in the old expectations for appearances.

A step in this direction could even be a solution -- to place ourselves where standards are different. When I was young I remember my parents considering moving to the other side of the county so we could get into a better school district before college applications.

It seemed absurd to uproot for that reason, so I held that awareness with me through adult life. I like to be surrounded by people who are both higher and lower in social status and income, and have so much of a mix that I don't get stuck into feeling obligated to perform a certain way.

I knew that my kids could have grown up in a better district too, but then they would have come home asking for better sneakers and label jeans, money for better presents at parties, ski trips... the demand would never end.

Living quietly can also lead to peace. Contentment comes when we have calmed ourselves down enough to appreciate our lives and what we have.

 

[lismore]

Spend less than you earn.

In a nutshell.

 

[Optimax]

Tithe.

1. Self Control
Most lose it here. The inability to control ones own desires for things is a 24/7 onslaught of temptations to BUY everything from popcorn, movies, the newest electronic gadget, to a house one cannot really afford.

2. Diligence
Diligence is also necessary to maintain constant, consistent self control.
However also expands to using the finances one has to pay the necessary first.

3. If one has a spouse.
Agreement.

4. Show up at work, on time, everyday, and DO the work assigned as unto the Lord.

Most won't get this far.

 

[huskmc]

Acts 4:33-35 NKJV

And with great power the apostles gave witness to the resurrection of the Lord Jesus. And great grace was upon them all. Nor was there anyone among them who lacked; for all who were possessors of lands or houses sold them, and brought the proceeds of the things that were sold, and laid them at the apostles feet; and they distributed to each as anyone had need.

I believe we have become a people who live a life of greed for over abundance and wealth, when in fact all you need in life is the basics. Being content with what you have is wise.

 

[Deba]

Several times I have read through just the words of Jesus. And I am always struck by how many times He tells us to care for others, but not to worry about our physical needs. So instead of not always helping others and saying, "God will provide for them." Jesus is asking us to say, "God will provide for me and I will provide for all the others He puts in my path for me to help."

 

[parsley]

3. If one has a spouse.
Agreement.

ROFL!
I have watched some couples retaliate with spending, and it's scary. The husband will buy a new truck, so the woman will take a trip to Vegas with friends. The husband will buy a jetski, and the wife will declare a room for scrapbooking and stock up. The wife will spend a lot on kids' Christmas presents, and the husband will feel like it's not from him so will spend more on additional presents.

It can get SO out of control, and accomplish nothing.

 

[New_Wineskin]

ROFL!
I have watched some couples retaliate with spending, and it's scary. The husband will buy a new truck, so the woman will take a trip to Vegas with friends. The husband will buy a jetski, and the wife will declare a room for scrapbooking and stock up. The wife will spend a lot on kids' Christmas presents, and the husband will feel like it's not from him so will spend more on additional presents.

It can get SO out of control, and accomplish nothing.

It would be better if they didn't have money if they don't know how to keep it .

 

[huskmc]

ROFL!
I have watched some couples retaliate with spending, and it's scary. The husband will buy a new truck, so the woman will take a trip to Vegas with friends. The husband will buy a jetski, and the wife will declare a room for scrapbooking and stock up. The wife will spend a lot on kids' Christmas presents, and the husband will feel like it's not from him so will spend more on additional presents.

It can get SO out of control, and accomplish nothing.

Hate to hear it.

 

[stelow]

Trust in God, instead of trusting in the world.

Learn to be content with what you have.

Is going in debt always avoidable, of course it is not.