Generally speaking, if these steps are followed, the average family will be debt free in less than five years. However, if the family is trying to exist on a low income, these five steps may be difficult to follow, especially steps (3) allow no more debt and (4) develop a spending plan.

Developing a spending plan
When a family is trying to live on a low income, they must develop a spending plan that is as non-indulgent as possible, control their spending very carefully, and live within the established spending plan guidelines. Although it might be very frustrating, wondering how to develop a spending plan when there doesn't seem to be enough money to make ends meet, a spending plan is even more important for families with low incomes. This spending plan should help to determine what kind of home you can afford, what kind of car you can drive, how much insurance you should have—even what kind of clothes you buy. This is where the practical (spending plan) merges with the spiritual (faith).

It may be very hard at first to make the spending plan work, because people with low incomes are often having to play catch-up and do not have the funds to set aside for the various spending plan categories. But, don't give up. It can take as much as a year for a low-income family to get on solid ground with a spending plan, but disciplined use of a spending plan will eventually pay off. As you chip away at it, bit by bit, God will honor your obedience.

If a family on a low income adheres to a spending plan and is still struggling, they might want to get some help and encouragement from one of Crown's Money Map Coaches. To learn more about Money Map Coaches, please click here.

If after establishing a spending plan and consulting with one of Crown's Money Map Coaches a family still cannot cover basic living expenses, they might need to share their needs with their church (see 2 Corinthians 8:14, 9:13). The family may need only temporary help from their brothers and sisters in Christ, but if they have a legitimate need they should feel free to share it with their church.

Families with inadequate incomes usually make purchase and lifestyle decisions based on two incomes, and the loss or reduction of one income throws the spending plan completely out of balance. For this reason we encourage families to develop a spending plan based on the husband's income only because all too often the wife's income is interrupted by illness, pregnancy, or a change in the husband's employment location. The wife's income should be applied to one-time purchases only, such as vacations, furniture, cars, or to savings or debt reduction. Although it is difficult to live on one income, if the husband and wife pray together and seek God's wisdom and direction, many problems usually associated with changes in income can be avoided. “The mind of man plans his way, but the Lord directs his steps” (Proverbs 16:9).

Allow no more debt
It is best for a family in debt to run toward their creditors, not away from them, especially if the family is living on a low income. It is difficult to negotiate with a creditor that has been ignored. Most creditors respond best to a specific request that is backed by a detailed plan in writing. So, the family in debt should send to each creditor a financial statement showing how much is owed to each creditor and how much income is available for debt payments, a copy of the family budget, and a detailed repayment plan, showing the creditors exactly how much the family is able to pay each month. The family then needs to be faithful to its vows and be consistent in repayments to the creditors.

This repayment plan will work only if the low-income family exercises discipline in spending. In order to establish discipline in spending, we suggest the following steps.

1. Put all spending under God's control. With God's guidance, any bad habit can be broken.
   
2. Once spending has been put under God's control, stick strictly to the established spending plan without deviating. Crown has many resources available to help create and use a spending plan. Click here to see the options.
   
3. Be accountable to someone for a period of time (at least six months) for everything that is spent. Ecclesiastes 4:9,10 says, “Two are better than one because they have a good return for their labor. For if either of them falls, the one will lift up his companion. But woe to the one who falls when there is not another to lift him up.”
   
4. Establish a “want-to-buy” list. Whenever you think you need to buy something that is not budgeted, put it on the list. Then wait seven days and find two additional prices for the same item, to be sure you are getting a good buy. If you still want the item after a week has passed and you have the money available, you will have thought about it and will be getting the best buy on it you can. Finally, you can have only one item on the list at a time, so if you find a new “want” during the week, you will have to decide between the two.

Conclusion
The financial goal of all Christian families should be to live within their means. This means that they spend no more than what the family makes on a monthly basis. Ideally this means to live on a cash basis and not use credit or borrowed money to provide for their normal living expenses. It also means the family controls spending and keeps wants, needs, and desires in their proper relationship. However, when income barely equals outgo, the family finds itself in a situation in which a decision must be made: make more money or spend less. If making more money is not a logical or attainable option, the second option, spending less, must be instituted. This option is best realized when a spending plan and disciplined spending are maintained.