Don’t Give Up

Debt can be overwhelming! Sometimes the burden can be so heavy, you want to give up. But don’t!! There are simple, practical steps you can take TODAY.

Proverbs 22:7 . “The rich rule the poor and the borrower is slave to the lender.”

But you don’t have to live in this bondage forever!

First, you’ve got to acknowledge the problem. Humble yourself, confess the issue, and ask for help. The Lord is near the brokenhearted and hears the prayers of the righteous.

Second, get organized! Make a list of how much you owe, and to whom. Include all the details, like your current balances, interest rate, minimum monthly payments, and what day your payments are due.  

Part of being organized and disciplined is keeping a budget. I want you to start tracking every dollar you spend TODAY. Figure out how much it costs to survive: I’m talking housing, car, utilities and food. Netflix and cable TV are NOT required for survival. 

Now start paying down the loans  beginning with the smallest balance first. You’ll eliminate the smallest debt and free up those minimum payments to go towards the next debt

This is called the Debt Snowball Method…. We even have a calculator at crown.org that will do all the hard work for you.

Look for ways to increase your income with side jobs, or by selling anything you can. Put any extra income, like bonuses, gifts, raises, or refunds, towards attacking that debt.  

Finally, thank God daily and give with joy. His mercies are new every morning; great is His faithfulness!

And the good news is, you don’t have to do this journey alone! If your credit card debt is overwhelming you, our friends at Christian Credit Counselors specialize in helping people pay off their credit cards the right way. Start your free debt analysis by visiting Crown.org/ccc