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13 STEPS TO BREAKING THE CYCLE OF DEBT

There is good news today for your finances! The Lord wants to speak to you through His Word to encourage you, build your faith and let you know that He is right there to walk with you through whatever you are facing financially.

No matter if you are deeply in debt or if you purely want to increase your wealth to further the Kingdom, applying God’s promises and principles can lead you out of debt and into financial freedom!

You may be thinking, “But my situation is so bad that financial health is impossible.” To you, Jesus says, “With men this is impossible, but with God all things are possible” (Matt. 19:26). As you dig into the Word of God to uncover treasures of truth in the following pages, the Bible gives you a vital key to positioning your heart and life to receive the abundant blessings of God.

“Now it shall come to pass, if you diligently obey the voice of the LORD your God, to observe carefully all His commandments which I command you today, that the LORD your God will set you high above all nations of the earth. And all these blessings shall come upon you and overtake you, because you obey the voice of the LORD your God” (Deut. 28:1-2).

Following God’s direction in the Bible is key to financial turnaround.

This study is neither a “how-to” manual about budgets nor an in-depth study. Rather, it contains a wealth of wisdom from the Word of God. It is filled with God’s promises, His principles and His thoughts about your financial wellbeing. God desires to bless you! I invite you to step into His abundance and be transformed by the renewing of your mind through the Word of God.

Breaking the Cycle of Debt

1. Submit yourself to the Lordship of Jesus Christ: No one can serve two masters. For you will hate one and love the other; you will be devoted to one and despise the other. You cannot serve both God and money. Matt. 6:24 NLT

2. Commit yourself to be a person of integrity: By this I know that You are well pleased with me, because my enemy does not triumph over me. As for me, You uphold me in my integrity, and set me before Your face forever. Ps. 41:11-12

3. Give yourself to study the Bible - to live according to God’s ways: This Book of the Law shall not depart from your mouth, but you shall meditate in it day and night, that you may observe to do according to all that is written in it. For then you will make your way prosperous, and then you will have good success. Josh. 1:8

4. Diligently and faithfully work to provide for your family: But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever. 1 Tim. 5:8

5. Determine to be faithful with the little things to be entrusted with more: If you are faithful in little things, you will be faithful in large ones. But if you are dishonest in little things, you won’t be honest with greater responsibilities. And if you are untrustworthy about worldly wealth, who will trust you with the true riches of heaven? And if you are not faithful with other people’s things, why should you be trusted with things of your own? Luke 16:10-12 NLT

6. Be diligent to leave an inheritance for your children and grandchildren: Good people leave an inheritance to their grandchildren, but the sinner’s wealth passes to the godly. Prov. 13:22 NLT

7. Learn to be content with what you have: Yet true godliness with contentment is itself great wealth. After all, we brought nothing with us when we came into the world, and we can’t take anything with us when we leave it. So if we have enough food and clothing, let us be content. 1 Tim. 6:6-8 NLT

8. Recognise that you are blessed to be a blessing: And it shall come to pass that just as you were a curse among the nations, O house of Judah and house of Israel, so I will save you, and you shall be a blessing. Do not fear, let your hands be strong. Zech. 8:13

9. Work hard at the job you’ve been given: He who works his land will have abundant food, but he who chases fantasies lacks judgement. Prov. 12:11 NIV

10. Be diligent and disciplined to save over time: Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time Prov. 13:11 NLT

11. Follow the Apostle Paul’s example: I have never coveted anyone’s silver or gold or fine clothes. You know that these hands of mine have worked to supply my own needs and even the needs of those who were with me. And I have been a constant example of how you can help those in need by working hard. You should remember the words of the Lord Jesus: “It is more blessed to give than to receive.” Acts 20:33-35 NLT

12. Remember that God can provide miraculously: When they had come to Capernaum, those who received the temple tax came to Peter and said, “Does your Teacher not pay the temple tax?” He said, “Yes.” And when he had come into the house, Jesus anticipated him, saying, “What do you think, Simon? From whom do the kings of the earth take customs or taxes, from their sons or from strangers?” Peter said to Him, “From strangers.” Jesus said to him, “Then the sons are free. Nevertheless, lest we offend them, go to the sea, cast in a hook, and take the fish that comes up first. And when you have opened its mouth, you will find a piece of money; take that and give it to them for Me and you.” Matt. 17:24-27

13. Look at this provision: A certain woman of the wives of the sons of the prophets cried out to Elisha, saying, “Your servant my husband is dead, and you know that your servant feared the Lord. And the creditor is coming to take my two sons to be his slaves.” So Elisha said to her, “What shall I do for you? Tell me, what do you have in the house?” And she said, “Your maidservant has nothing in the house but a jar of oil.” Then he said, “Go, borrow vessels from everywhere, from all your neighbours—empty vessels; do not gather just a few. And when you have come in, you shall shut the door.

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