Do you want to travel? How about change jobs, move or start a home business? Do you feel a calling to ministry, evangelism or aid work? Do you want more time with your family or be able to start a family? Do you want to get more involved with you local community or have a hobby you have always wanted to try?
Is your debt keeping you from doing these things?
The Serious Issue of Debt
Are you in debt? If so, how much debt?
I am sure, like most people, you don’t really want to be in debt. Maybe you aren’t even sure how you got into debt.
Maybe, during the course of growing up, you came to believe that it was your right to own a home, a nice car, and all the furniture and clothing you want.
Or maybe you went through a trial of a lost job or an illness or accident that took everything you had.
Our Debt Story
Unfortunately, we were the first scenario. We thought it was our right to have everything we wanted – NOW.
We were in nearly $220,000 worth of debt when we had a radical change of heart in our lives. We wanted to start a family. But I, the woman of the house, was the primary (actually, only) wage earner. We not only wanted me to stay home with the children while they were little, but we wanted to homeschool them right though to college age. And we did not just want to have two children, but as many as God willed.
So we prayed and asked God what to do. And He answered and directed us to do two very radical things.
1 – Sell All That We Have
We put our house up for sale. At that time, the market in our area was still pretty good, so we were able to sell our house, which we had for five years, for enough to payoff the mortgage, our line of credit, and most of our credit cards. We sold some other things that we did not need for basic survival, including some music equipment and furniture. We also tried to sell our car, but we owed more than it was worth. More on that later.
Yes, we rent at the moment. To some people, this does not make sense. But people are loosing their homes or their homes are not worth as much as they owe. Many are not free to do what they really want in their life.
I understand, that for some people, their house is what they want for their life and others have plenty of money and their payment is of no consequence. If God is not leading you to sell your home, but you are in debt, He is trying to show you what you do need to get rid of.
2 – Return What We Can’t Sell
When we could not sell our car, a Jeep that we were paying about $535 a month for, we returned it to the dealership we purchased it from. Yes, we were without a car for the moment. Yes, we still owed $3100 after they sold it. And yes, this does sound pretty radical.
But God convicted and God provided.
Just a week or two after we received our bill for the balance of the Jeep, we received $3200 in the mail from something from our past that we weren’t sure we were ever going to get. We paid the auto financing company and we were almost debt free.
Then God brought us a car. A long term loan from a friend named Hezekiah. Hezekiah was a Honda with 300,000 miles on it. It ran and we were grateful. Eventually, we were given two cars from family (again, quite used, but running, they each had an 80 Gallon air compressor) and then after awhile, the doors opened to make payments to a lady for her van. We still own the van and the lady was grateful – she never ACTUALLY had anyone finish paying her off for something like that before.
We are now 95% debt free. We actually made the choice to purchase something, partially on debt for our health and to build up a little credit. We are diligent and it will be paid for soon.
Now we have three lovely children and counting. We are homeschooling them. We are serving God, our community and our family. Money worries and stress are significantly lower than they were. Being free of debt has only been a blessing.
What are your radical getting out of debt stories? Do you need some help getting out of debt? Feel free to ask questions, I would love to be of help.
Disclosure: Some links in this post are affiliate links.
If you are looking for a gentler way to reduce your debt and manage your budget, you should check out – You Need a Budget!