Debts do not go away automatically. They will be around till we die, if we do not pay them off. Our lives can be extremely exciting without debt. Satan has told several lies and one of those is to live on things that we have not paid fully. Dictionary defines debt as, "Money that a person is obligated to pay to another".

Debt is usually costs higher than we think. For example, a $5,560 in credit card debt at 18% interest rate, would cost $1000 in interest annually. In 40 years, it would cost you $40,000. However the lender, using compound interest will be earning $4 million, if you pay $1000 to the lender for 40 years, with 18% on your payment.

A 30 year home mortgage, at 10% interest rate, will require you to pay more than three times the amount originally borrowed, as shown below.

e.g. Original Amount = $100,000
Monthly mortgage at 10% interest = $877.57
Months paid in 30 years = 360 (months)
Total payments = $315, 925.20 (Crown, 2003)

In all cases, the debt will only cost us more. God never intended us to live on borrowed money. The promise for God's people is, "You shall lend to many nations and you shall not borrow" (Deu 28:12b).

In this lesson, we shall take few but sure steps to eliminate debt.

1. Life without debt will be free from stress both emotionally and physically.
   1. Rom 13:8. xUtuplj;jpnyhUtu; md;G$Ufpw flNday;yhky;> kw;nwhd;wpYk; xUtDf;Fk; fld;glhjpUq;fs;; gpwdplj;jpy; md;G$Ufpwtd; epahag;gpukhzj;ij epiwNtw;Wfpwhd;.
      Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.
2. Life without debt depicts a lifestyle of obedience
   1. Deu 28:12. Vw;wfhyj;jpy; cd; Njrj;jpNy kio nga;aTk;> eP ifapl;Lr;nra;Ak; Ntiyfisnay;yhk; MrPu;tjpf;fTk;> fu;j;ju; cdf;Fj; jkJ ey;y nghf;fp\rhiyahfpa thdj;ijj; jpwg;ghu;; eP mNefk; [hjpfSf;Ff; fld;nfhLg;gha;. ePNah fld; thq;fhjpUg;gha;.
      The LORD shall open unto thee his good treasure, the heaven to give the rain unto thy land in his season, and to bless all the work of thine hand: and thou shalt lend unto many nations, and thou shalt not borrow.

1. We can pray to God, to give us strategies to overcome debt. There is always a way even when circumstances seem impossible. A widow, with an impossible situation got deliverance when she pleaded to the prophet. We will also receive ideas when we pray to God about our situation.
   1. 2 Kings 4:1. jPu;f;fjuprpfSila Gj;jpuupy; xUtDf;F kidtpahapUe;j xU ];jpuP vyprhitg; ghu;j;J: ckJ mbahdhfpa vd; GU\d; ,we;J Nghdhd;; ckJ mbahd; fu;j;jUf;Fg; gae;J ele;jhd; vd;gij mwptPu;; fld;nfhLj;jtd; ,g;NghJ vd; ,uz;L FkhuiuAk; jdf;F mbikfshf;fpf; nfhs;s te;jhd; vd;whd;.
      Now there cried a certain woman of the wives of the sons of the prophets unto Elisha, saying, Thy servant my husband is dead; and thou knowest that thy servant did fear the LORD: and the creditor is come to take unto him my two sons to be bondmen.

1. In most families, there is only one source of income and there are innumerable expenses that come on the way. The first thing to come out of debt is to list all sources of income and all expenses (that draw money away). Writing the budget is a sure way to stay on track and helps to eliminate instinct spending.
   1. Habakkuk 2:2.mg;nghOJ fu;j;ju; vdf;Fg; gpujpAj;jukhf: eP juprdj;ij vOjp> mijf; fle;NjhLfpwtd; thrpf;Fk;gbg; gyiffspNy jPu;f;fkhf tiu.
      And the LORD answered me, and said, Write the vision, and make it plain upon tables, that he may run that readeth it.

1. There are things that might be in our possession, that are no longer necessary. There might be books that are no longer needed and clothes no longer used. Is there anything in our possession that can be sold to pay of some portion of debt?
   1. 2 Kings 4:7.mts; Ngha; NjtDila kD\Df;F mij mwptpj;jhs;. mg;nghOJ mtd;: eP Ngha; me;j vz;nzia tpw;W> cd; flidj; jPu;j;J> kPe;jijf;nfhz;L ePAk; cd; gps;isfSk; [Ptdk;gz;Zq;fs; vd;whd;.
      Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest.

1. There may be many credit cards and loans that we might be paying interest on even without our knowledge. There might be unpaid insurance policies that might need to be closed. It is good to take inventory of all things that you need to pay off. Every time, we sign up for new cards or new subscriptions, we might be signing up for a long term commitment to pay them off. No debt will be forgiven by the wicket people as Job describes below.
   1. Job 24:9.mtu;fNsh jfg;gdpy;yhj gps;isia Kiyiatpl;Lg; gwpj;J> jupj;jpud; Nghu;j;Jf;nfhz;bUf;fpwij mlFthq;Ffpwhu;fs;.
      The fatherless child is snatched from the breast; the infant of the poor is seized for a debt

1. No debt will vanish automatically. It is imperative to draft a plan to pay off the each loan or debt
2. "Snowball effect" focuses on paying of the smaller debt first. After the first debt is paid off, the same payment is now applied to the second debt. After the second debt is paid off, the amount of payment on first and second debt is now used to pay off the third debt.
3. "Highest interest rate first" focuses on paying off the debt with highest interest rate
   1. Matthew 18:30. mtNdh rk;kjpahky;> Ngha;> mtd; gl;l flidf; nfhLj;Jj; jPu;f;FksTk; mtidf; fhtypy; NghLtpj;jhd;.
      And he would not: but went and cast him into prison, till he should pay the debt.

1. When additional income arrives, we should not increase our expenses, but rather focus on paying the debt first. Sometimes one job may not be sufficient to pay off the debt, in which case, one should consider additional source of income.
   1. Matthew 25:16. Ie;J jhye;ij thq;fpdtd; Ngha;> mitfisf;nfhz;L tpahghuk; gz;zp> NtW Ie;J jhye;ijr; rk;ghjpj;jhd;.
      Then he that had received the five talents went and traded with the same, and made them other five talents.

1. Credit card spending, if not controlled, could easily lend itself to uncontrolled debt. Unless one is self-controlled enough to pay off the expenses at the end of each month, one should not rely on credit cards to meet our livelihood. Research shows that only 40% of the credit card holders pay them in full each month. If you are not able to pay off the balance at the end of each month, a plastic surgery would help.
   1. Matthew 18:25. flidj;jPu;f;f mtDf;F epu;thfk; ,y;yhjgbahy;> mtDila Mz;ltd; mtidAk; mtd; ngz;[hjp gps;isfisAk;> mtDf;F cz;lhd vy;yhtw;iwAk; tpw;W> flidj; jPu;f;Fk;gbf; fl;lisapl;lhd;.
      But forasmuch as he had not to pay, his lord commanded him to be sold, and his wife, and children, and all that he had, and payment to be made.

1. To live a life of happiness, we need only few things. Expensive televisions, cameras and gadgets are only wants and they are not the needs. If we live within the means, and focus on the needs and not on what we want, we can overcome debt-lifestyle and be free to serve the Lord.
   1. Luke 12:15. gpd;G mtu; mtu;fis Nehf;fp: nghUshiriaf;Fwpj;J vr;rupf;ifahapUq;fs;; Vnddpy; xUtDf;F vt;tsT jpushd M];jp ,Ue;jhYk; mJ mtDf;F [Ptd; my;y vd;whu;.
      And he said unto them, Take heed, and beware of covetousness: for a man's life consisteth not in the abundance of the things which he possesseth.

1. God wants us to live simple, and to be content with what we have without being too much greedy for a great lifestyle. Having food and clothes with a house to live, we should be content. An extra flow of money should motivate us to give more to God.
   1. 1 Timothy 6:6. NghJnkd;fpw kdJlNd $ba Njtgf;jpNa kpFe;j Mjhak;.
      But godliness with contentment is great gain.
   2. 7. cyfj;jpNy ehk; xd;Wk; nfhz;Lte;jJkpy;iy> ,jpypUe;J ehk; xd;Wk; nfhz;LNghtJkpy;iy vd;gJ epr;rak;.
      For we brought nothing into this world, and it is certain we can carry nothing out.
   3. 8. cz;zTk; cLf;fTk; ekf;F cz;lhapUe;jhy; mJ NghJnkd;wpUf;ff;flNthk;.
      And having food and raiment let us be therewith content.
   4. 9. IRtupathd;fshf tpUk;Gfpwtu;fs; NrhjidapYk; fz;zpapYk;> kD\iuf; Nfl;bYk; moptpYk; mkpo;j;Jfpw kjpNfLk; NrjKkhd gytpj ,r;irfspYk; tpOfpwhu;fs;.
      But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.
   5. 10. gz Mir vy;yhj; jPikf;Fk; NtuhapUf;fpwJ; rpyu; mij ,r;rpj;J> tpRthrj;ijtpl;L tOtp> mNef NtjidfshNy jq;fis cUtf; Fj;jpf;nfhz;bUf;fpwhu;fs;.
      For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

1. We should be ready to make a radical change in lifestyle, in order to come out of debt. Sacrifices are required, to make a life of Joy. For example, one can eat in inexpensive restaurants rather than expensive ones. One might sell the expensive cars and buy used ones. One might move to a different home if required. One might find a night job and a day job, making sacrifices to come out of debt in a shorter period of time.
   1. 2 Thessalonians 3:8. xUtdplj;jpYk; ,ytrkha;r; rhg;gplhkYk;> cq;fspy; xUtDf;Fk; ghukhapuhjgbf;F ,uTk; gfYk; gpuahrj;NjhLk; tUj;jj;NjhLk; Ntiynra;J rhg;gpl;Nlhk;.
      Neither did we eat any man's bread for nought; but wrought with labour and travail night and day, that we might not be chargeable to any of you:

1. It is Journey that will cost. But it will surely pay off. We should not give up. Winston Churchill said, "Never give in. never give in. Never, never, Never - in nothing, great or small, large or petty - never give in except to convictions of honor and good sense". It might be long and hard, but the freedom is worth the struggle (Crown, 2003)
   1. Prov 20:13. J}f;fj;ij tpUk;ghNj> tpUk;gpdhy; jupj;jpudhtha;; fz; tpopj;jpU> mg;nghOJ Mfhuj;jpdhy; jpUg;jpahtha;.
      Love not sleep, lest thou come to poverty; open thine eyes, and thou shalt be satisfied with bread.
2. Diligence brings riches
   1. Prov 10:4. Nrhk;gw;ifahy; Ntiynra;fpwtd; Vioahthd;; RWRWg;Gs;std; ifNah nry;tj;ij cz;lhf;Fk;.
      He becometh poor that dealeth with a slack hand: but the hand of the diligent maketh rich.