Eccle.10v19: A feast is made for laughter, and wine makes merry; but money answers everything.

I believe you are enjoying this series of teachings on the subject of financial freedom. Your financial Freedom is crucial to living a stress-free life financially speaking. And besides, God wants you to have dominion in your finances. It’s possible to achieve financial Freedom if you pay close attention to the principles I have been sharing with you in these lessons. If it worked for others, I am sure it will work for you also because God is no respecter of persons but of faith. In today’s lesson by his Grace, I will be sharing with you another powerful principle for achieving financial independence. Are you ready for this? I am sure you are, so off we go!

ACHIEVING FINANCIAL FREEDOM:

1. Avoid the Debt Trap. Living a life of indebtedness will never allow you to become financially free. This is one of the major reasons why a lot of people are financially broke or in a mess financially speaking. There is nothing more peaceful and relieving than living a debt free life. My dear brothers and sisters, you need to avoid the debt trap as much as possible if you really want to be free financially speaking. In fact, God does not want to be indebted financially (Rom.13v8; Deut.28v12-13). I know it’s very easy to get in to the debt trap that’s why you need to be financially disciplined if you are to achieve this goal.

On the other hand, there are two kinds of debts i.e. good and bad debt. So not all debts are bad therefore but most people find themselves entangled with the bad kind of Debt. So what’s the difference between the two?

– A good debt is the type that is getting more money into your account, pocket, or portfolio than it’s taking money away from you. It’s adding to you instead of deducting from you. On the other hand, a bad debt takes money from you.

– A good debt is the type that you are forgiven of or the owner or creditor forfeits or relieves you of. Whereas a bad debt is one that the interest continues to climb up or multiply (Exo.11v2-3).

– A good debt is the type that you can easily pay off without much hassles, conditions, or interest. A bad debt on the other hand is the opposite of this (2Ki.6v5).

So how would you classify the kind of debt that you are in? In any case, the best proposition is for you to live a debt-free life. So how can this be done? And is this really possible? The answer is a definite YES. So what are the things that can help you live a debt-free life?

HOW TO AVOID THE DEBT TRAP?

1. Don’t spend more than you earn. This is so simple yet many people miss it outrightly. Live within your means but don’t stay there. This is one of best advice you can ever hear on financial Freedom.
2. Stop living on credit or buying things on credit. All this buy now, pay later offers although has some advantages but not everyone can do this effectively. So as a general rule, if you don’t have money now wait until you can afford it. This will give you financial peace of mind that passes all understanding.

3. Stop trying to impress people. Many people have gotten themselves into financial troubles because of peer or class pressure. Stop trying to show off or outdo others. The fact that everyone has it does not mean you need to have it. Stop acting Big and living little. Be yourself and be Truthful to yourself. This will save you a lot of hassles that a lot of people put themselves into. And you are better off if being yourself.

4. Live by faith. This is another way of avoiding the debt trap. Living by Faith gives you leverage over those who are doing so and also gives you access to supernatural supplies. In fact, as a child of God, you are expected to live by faith, so to what extent are you trusting God to meet your needs? (Gal.3v11). So it’s time to start depending on God to meet your needs. One thing I have learnt from this is that God knows how to meet your needs and he does not put to shame those who truly trust him (Ps.125v1: 34v10).

I see you by his wisdom gaining victory over financial indebtedness in Jesus name, amen.

Other Scriptural References: (Pro.13v24: Pro.22v7; 2ki.4v2-3; Exo.12v35; Deut.15v16).

Prayer for Today: Heavenly Father, I receive your grace and help in living a debt-free life in Jesus name, amen.

CONFESSION: By the wisdom and help of God, I am gaining mastery over my finances. I am no longer a slave of financial indebtedness. I say no also to a life of financial pressure. I enter into the Dimension of financial harmony and peace. Glory be to God, for my days of living from hand to mouth is over. My days of financial freedom are here!

Pastor Yemi Adeoti

Yemi Adeoti is a pastor, teacher, life coach and mentor & also a prolific writer.