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Getting Out of Debt

It can be so easy to accumulate debt, be it medical expenses, credit card debt, student loans, or other types of debt. As life goes on, interest rates compound, and so many of us get deeper and deeper into a debt hole. The only reason anyone ever even gets into debt is so they could live better and experience some level of relief or comfort. However, the process of getting out of debt is much more difficult than getting in. Getting out of debt can take several years, thousands of dollars, and an undying commitment to see financial freedom.

you’re not alone

Debt is a rising problem

If you’re struggling financially with what seems like an increasing amount of debt, you’re not alone. A recent report stated that the average American personal debt load, not including a mortgage or student loans, is a little over $40,000. Adding a home mortgage and education debt doubled the personal debt to about $90,000 per person. With the average US household income being about $70,000 a year, that means that the typical married couple in your neighborhood owes about two and half times their annual income.

move beyond

Dealing with debt is a bondage that must break

No one applies for a credit card with the idea, “I think I’ll go into debt today.” Yet, if they were to fast forward several years later, the smaller purchases made in an instant no longer matter. Debt can cause life to seem lackluster. You can watch others enjoy celebration seasons like birthdays or Christmas yet feel overwhelmed with the stress of how to make ends meet. Certain types of debt can even result in wage garnishment, a lien on your home, or levying your bank account, threatening your lifestyle and livelihood. There’s a proverb in the Bible that says that the borrower is a slave to the lender. Debt is a type of bondage that can break with intentionality, focus, and discipline. So, how do you move beyond your current season of debt and begin to experience true financial freedom?

get your finances in order

Achieving financial freedom

Getting out of debt and living without debt is truly like being set free from bondage. Your lifestyle and financial decisions begin to change as you pay down debt and increase your credibility as a good financial steward. As your debt decreases, your credit and reputation increase. Achieving financial freedom is worthy of the hard work and sacrifice that is required. If you are facing financial challenges and looking for answers to help get your finances in order. Connect with us today to get in touch with someone who can help you take your first steps to financial freedom.