{"id":916,"date":"2019-10-03T00:37:43","date_gmt":"2019-10-02T15:37:43","guid":{"rendered":"https:\/\/bluebook.mylifehouse.com\/financial-freedom-step-3\/"},"modified":"2022-10-24T15:43:26","modified_gmt":"2022-10-24T06:43:26","slug":"7-steps-to-financial-freedom-step-3","status":"publish","type":"post","link":"https:\/\/bluebook.mylifehouse.com\/ko\/7-steps-to-financial-freedom-step-3\/","title":{"rendered":"Step 3: Get Out Of Debt"},"content":{"rendered":"<h3>Get Out of Debt &#8211; The Borrower Is Slave To The Lender<\/h3>\n<p>&nbsp;<\/p>\n<p><strong>Debt is a Weight Around Your Neck that Holds You Back<\/strong><br \/>\nYou will never be able to move into financial freedom as long as you have the weight of debt holding your back.<br \/>\nWhatever you save or invest is reversed by your debt.<br \/>\nIt is better to remove the debt first, then move onto building wealth.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Is Debt A Sin?<\/strong><br \/>\nIn the Bible, there is nothing positive written about debt.<br \/>\nIt is not mentioned as sin, but there are many cases where it is mentioned as not wise.<br \/>\nIn fact God sent Jesus to pay our debt of sin, not to give us a debt!<\/p>\n<div  class=\"x-accordion-group\" ><div class=\"x-accordion-heading\"><a id=\"tab-662cafe119915\" class=\"x-accordion-toggle collapsed\" role=\"tab\" data-x-toggle=\"collapse-b\" data-x-toggleable=\"662cafe119915\" aria-selected=\"false\" aria-expanded=\"false\" aria-controls=\"panel-662cafe119915\"><i class='x-framework-icon x-shortcode-accordion-icon' data-x-icon-s='&#x2b;' aria-hidden=true><\/i><span>Proverbs 22:7<\/span><\/a><\/div><div id=\"panel-662cafe119915\" class=\"x-accordion-body x-collapsed\" role=\"tabpanel\" data-x-toggle-collapse=\"1\" data-x-toggleable=\"662cafe119915\" aria-hidden=\"true\" aria-labelledby=\"tab-662cafe119915\"><div class=\"x-accordion-inner\">The rich rule over the poor, and the borrower is slave to the lender.<\/div><\/div><\/div>\n<p>What power does the lender have over the borrower?<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Attack Your Debt<\/strong><br \/>\nThe only way to get out of debt, is to get mad at your debt and attack it.<br \/>\nYou do not need to save, eat out, or go on holidays, instead use any extra money you have to clear your debts.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>What Is Debt?<\/strong><br \/>\nAnything that you did not pay for in full is a form of debt.<\/p>\n<p>&nbsp;<\/p>\n<p>This may include:<\/p>\n<p>-Credit Cards<br \/>\n-Student Loans<br \/>\nIn Japan 40% of graduates have $30,000 or more in student loans or so called \u201cscholarships\u201d that must be repaid.<br \/>\nIn the USA 70% of graduates have an average student debt of $30,000 or more.<br \/>\nOther countries are also similar.<br \/>\n-Family loans<br \/>\n-Personal loans<br \/>\n-Car loans<br \/>\n-Housing loans<\/p>\n<p>&nbsp;<\/p>\n<div  class=\"x-accordion-group\" ><div class=\"x-accordion-heading\"><a id=\"tab-662cafe11998c\" class=\"x-accordion-toggle collapsed\" role=\"tab\" data-x-toggle=\"collapse-b\" data-x-toggleable=\"662cafe11998c\" aria-selected=\"false\" aria-expanded=\"false\" aria-controls=\"panel-662cafe11998c\"><i class='x-framework-icon x-shortcode-accordion-icon' data-x-icon-s='&#x2b;' aria-hidden=true><\/i><span>Proverbs 6:1-5 (NIV)<\/span><\/a><\/div><div id=\"panel-662cafe11998c\" class=\"x-accordion-body x-collapsed\" role=\"tabpanel\" data-x-toggle-collapse=\"1\" data-x-toggleable=\"662cafe11998c\" aria-hidden=\"true\" aria-labelledby=\"tab-662cafe11998c\"><div class=\"x-accordion-inner\">(1) My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger,<br \/>\n(2) you have been trapped by what you said, ensnared by the words of your mouth.<br \/>\n(3) So do this, my son, to free yourself, since you have fallen into your neighbor\u2019s hands: Go\u2014to the point of exhaustion\u2014and give your neighbor no rest!<br \/>\n(4) Allow no sleep to your eyes, no slumber to your eyelids.<br \/>\n(5) Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.<\/div><\/div><\/div>\n<p>What does God say we should do with our debt?<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Debt Snowball<\/strong><br \/>\nList your debts smallest to largest by amount owed, without worrying about interest rates.<br \/>\nPay minimum payments on all of the debts and put any extra money you can squeeze from your budget onto the smallest one.<br \/>\nOnce that first debt is paid, you can take the extra payment you were putting toward that debt and attack the next debt on the list.<br \/>\nOnce the next one is paid, take that extra payment and start paying extra on the next debt.<br \/>\nYou can knock out all your debts one by one with a great sense of momentum like a snowball growing.<br \/>\nThe debt snowball is less about math, and more about getting mad at your debt, starting with small victories that lead to great momentum.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>When Can I Be Debt Free?<\/strong><br \/>\nTo calculate how long until you are debt free, simply divide the total debt amount by your monthly savings.<br \/>\nIf you don\u2019t have any extra money or the timeline is too long, you will need to adjust your budget or get a second job.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get Out of Debt &#8211; The Borrower Is Slave To The Lender &nbsp; Debt is a Weight Around Your Neck that Holds You Back You will never be able to move into financial freedom as long as you have the weight of debt holding your back. Whatever you save or invest is reversed by your debt. It is better to &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[65],"tags":[555],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Step 3: Get Out Of Debt - | The Blue Book<\/title>\n<meta name=\"description\" content=\"Debt is a Weight Around Your Neck that Holds You Back. 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