Financially speaking, there are three kinds of people: the haves, the   have-nots, and those who have not paid for what they have! Debt has become a   way of life in the American landscape. The average American household spends   at least 20 percent of their net income on consumer debt. We must understand   that when debt rules, debt ruins. Proverbs 22:7 says: “The borrower becomes   the lender’s slave.” Debt controls your life, so it puts you in a kind of   slavery. There are several reasons for debt: ignorance, indulgence, poor   planning, and emergencies. All these things can contribute to the snowball of   debt.

But I believe that God provides a way for us to live without being   controlled by our debt. Debt is owing something you cannot pay, and that kind   of debt should be abnormal for the Christian because it is outside God’s   will. Debt is first and foremost a spiritual issue—we are in debt because we   have refused to obey God.

Psalm 37:21 says:“The wicked borrows and does not pay back.”   Ecclesiastes 5:5 says: “It is better that you should not vow than that you   should vow and not pay.”But also: “The Lord will open for you His good   storehouse, the heavens, to give rain to your land in its season and to bless   all the work of your hand; and you shall lend to many nations, but you shall   not borrow” (Deuteronomy 28:12).

We can be set free from the tyranny of debt, and there are four steps   that can help us: plant, plan, prioritize, and pray.

Knowing the truth about debt is the first step toward financial   freedom.

May God Almighty prosper Nigeria and Israel and   defend us from all their enemies in Jesus Christ Name, Amen!