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Saving Your Way Out of Debt

It may not make a whole lot of sense when you first hear it, but if you have debt, you need to save your way out of it!

The Bible warns against becoming a slave to lenders. If you’re not in the habit of spending less than you earn, you can easily find yourself in that kind of financial bondage.

That’s why everyone should include an emergency saving category in their budget!! Without one, the use of credit becomes a lifelong necessity and debt becomes a way of life. If you have enough money saved, you can pay for big purchases or surprise expenses with cash. You can shop for the best buys when needed instead of always using a credit card.

God’s word teaches the need to sacrifice in the short-term to attain long-term goals.

Solomon said, Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it. (Proverbs 21:20)

A Christian should practice saving money on a regular basis, even if you have debt. You may start out saving $10 a month, but the habit of saving will have long-term benefits.

Begin by saving a portion of your annual income while making minimum monthly payments on all your debts. Aim to build an emergency fund of at least $1,000 if you don’t already have one.

Make sure you have a separate savings account and transfer money via automatic deductions from your paycheck. If you don’t see the money, you’ll be less tempted to spend it!

Once you have $1,000 saved, then attack your debt. Use the debt snowball method to pay it off faster. Find free resources to get you started at

And once you’re debt-free, you can reallocate the money to really grow your savings and work towards achieving short- and long-term goals.  

So, be wise and save while paying down your debt!

For more helpful resources or encouragement, call the Crown Helpline at 800-722-1976 or find resources online at