Ten Commandments Debt Free Life Style
1. Administrators - We all must remember, acknowledge that fact that we are in living in a debt problem. Or that we do have some extra debt that we are needing to get out of. Also, the most important fact to remember is that God knows everything. We first and foremost have to be good stewards of the resourced that God has provided us for! A good reminder to keep thinking God owns all the cows in the world. With this thought in mind if He owns all the cows in the world then sure he will keep care of YOU!!
Ten Commandments Debt Free Life Style
2. Budget - Yes, we know everyone sort of hates to hear that word budget. And you get that idea in you head of sitting down and number crunching. Budget does not always have to that boring. It's more of a simple record of what you are going to give yourself for different expenses per month. Some other important thoughts on budgeting is making some simple rules in budgeting and stick to them. Do not give in, if you set a goal or a budget for $50 a month on entertainment then stick to it! Trust me you will be better off for it in the long run. Make a record of all your expenses, have and stick with shopping lists, meaning don't buy anything that is not on the list, and lastly did we mention stick to your budget plans!
Ten Commandments Debt Free Life Style
3. Cut Credit Cards - We know this sounds very very strict, but if your living debt this is probably a big problem! It's time to cut the credit cards that are leading or adding to the problem which is living in debt! Its time to buckle down and get rid of your credit cards!
Ten Commandments Debt Free Life Style
4. Debt Pay-off ASAP - That's right...payoff your debt asap, because we all know that cash basis is the best! If your budget or cash resource allows you to pay the full amount reflect on the statment of account. This practice will pay off in the end. Paying only the minimum amount required may seem light on the pocket, but heavier in the long run due to interests rates which for a credit card can run anywhere from 3.25% to 30% (depending on how late or backed up you might be on the your payments). Here are the don't in borrowing!
* don't borrow to buy anything that depreciates
* don't borrow to pay back debt
* don't borrow at high interest
* don't borrow except to buy a house (which appreciates in value)
Ten Commandments Debt Free Life Style
5. Envelopes of cash - Cash funds must be kept in envelopes distributed as follows: Monthly: rent, food, utility, gasoline, school allowance, recreational and entertainment, etc. Yearly: tuition, textbooks, and school supplies, insurance, Christmas, holidays. Contingencies: medical, emergencies. Also try to refrain from juggling funds.
Also, another way to help you put away some cash, is so many people are banking online, paying online, spending online. Then why not save online, that's right do a direct deposit of first paying yourself and leaving say $20 a month goes to first paying yourself for saving towards something maybe for a raining day, vacation, extra spending money for a later date, or even more to your retirement fund!
Ten Commandments Debt Free Life Style
6. Family Planning - More children means more mouths to feed, more bodies to clothe, more minds to educate, and that's right more family planning and budgeting for all the above. Plan a family of manageable size which you could supply as well as amply give care, love, and give full attention to. And just think of this world and how many children out there worldwide that are malnourished and out of school. And at the rate popluation is growing, in a few years, there will not be enough food to go around!
Ten Commandments Debt Free Life Style
7. Grateful and not greedy - Giving generously to others may be the most rewarding gift to ever recieve! Just think about being content of where you are, and sharing of more what you have!
Ten Commandments Debt Free Life Style
8. Hardwork, not easy money - Work hard and become a leader, be lasy and never succeed. Do not gamble. Beware of pyramid schemes. Do not lend at high interest, aiming for the easy, quick bucks could spell more disaster!
Ten Commandments Debt Free Life Style
9. 10-20-70 - The suggestion income allocation is 10% for tithes, 20% for saving and 70% for spending. This can of course be modified by spending less so that tithes to a local Church and saving increase. Yet a more important debt needs to be dealt with, first and foremost, if we are to enjoy the abundant life.
Ten Commandments Debt Free Life Style
10. Invest for the future, invest in eternity - By simple spending less than what you earn, you can save for futre needs, emergencies and retirement. But beyond this life, one can store up treasures in heave (Matt. 6:20). Live simply that others can simply live. Instead of spending on something that is not a real need, give it away to someone who has a dire need. Be a major stakeholder in church by giving much of your time, talent, energy and money to it.
