Stress is bad
Proverbs 22:7 (NIV) The rich rule over the poor, and the borrower is slave to the lender.
What to pray when getting out of debt
1) God, give me SELF-CONTROL.
Proverbs 25:28 (NLT) A person without self-control is like a city with broken-down walls.
Learn to say “no” for a little while, so we can say “yes” for the rest of our lives.
Galatians 5:22-23 (NLT) But the Holy Spirit produces this kind of fruit in our lives: love, joy, peace, patience, kindness, goodness, faithfulness, 23 gentleness, and self-control. There is no law against these things!
2) God, give me UNDERSTANDING.
Hosea 4:6 (NIV) My people are destroyed from lack of knowledge.
Compound interest working AGAINST you:
- If you had $15k of credit card debt with an interest rate of 20% and you paid $250 a month it would take you 30 years to pay it off, and you’d pay over $75,000 in interest.
Compound interest working FOR you:
- If you invest $15,000 and leave it alone for 40 years at 10% interest, you’d have over $800k.
- If you added $250 a month to that investment you’d have $2.4 million dollars in 40 years.
3) God, give me a PLAN.
Proverbs 21:5 (NLT) Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.