Debt Free by 40: Escaping the Debt Monster

How Did I Get Here?

If you are in debt it is likely that you have wondered to yourself, how in the world did I get here? What happened? Where did I go wrong? Sometimes there is a sense of guilt and shame over your financials. You don’t want anyone to know. Everyone on social media seems to be living their best life, what about me? This was me.

One morning I woke up and was overwhelmed by the weight of my debt. It felt like I couldn’t breathe. In most people’s eyes I was a successful young eye doctor. In my eyes I was a fraud. Broker than a joke, with a lower net worth than a homeless person (zero was more hopeful than -$500K!).  I had every kind of debt: student loan, business, mortgage, car loan, and credit cards. The only debt it seemed like I didn’t have was a payday loan! Where did I go wrong? Had I missed God’s voice or direction? Was this the life I was destined to live?

Making the Decision to Change

There comes a time in your life when you come to a crossroad. You have the choice to continue along the path that you are on or go in a different direction. It takes courage to change course. It takes courage to believe that your current situation is not your ultimate destination. Sometimes you are just  so tired that you are forced to do something else.

The LORD your God will bless you as he has promised. You will lend money to many nations but will never need to borrow. You will rule many nations, but they will not rule over you. -Deuteronomy 15:6 (New Living Translation)

Well this is what happened to me. I was working so hard to try and keep all the balls in the air and all the bills paid. I knew something had to give. I had been reading the Bible and I knew I was supposed to be the lender and not the borrower. However, the debt was so heavy I didn’t see how that statement could ever apply to me. I can say I am a pro at mustard seed faith. I always seem to have way more doubt than faith. However, I realize that just a little pinch of real faith can somehow be enough to get me to take the 1^st step. Fortunately for all of us, that’s all God needs!

Doing the Work

It takes a lot of work to get out of debt. It requires self-sacrifice, self-discipline, budgeting, endurance, and prayer. There will be temptations, critics, and “haters.” There will also be the battle in your mind. You will question if it’s worth it and is it attainable.

My husband and I prayed, and I read finance books continuously to try to stay on focus. I started a small Facebook group and even started teaching finance classes at my church to keep my eye on the prize.  I did anything I could do to keep focused and not give up, or even worse encounter more debt. The method we used was the debt snowball and added any extra we could help it out. The Lord blessed our business and it started to prosper we put all extra toward the debt.  Before we knew it, the credit cards and car loans were paid. Then the business debt was paid. Next the student loan was paid and finally our mortgage was gone!!!!!!  Wow what a little pinch of faith can do!

The Fruit is So Sweet

If being debt free is your desire I encourage to walk out on faith, trust the Lord, and watch him go to work on your behalf. When the debt is gone, the freedom you feel is indescribable. You really don’t realize how much debt weighed, until it is gone.  The fruit you receive is called peace. It is ripe, sweet, and oh so delicious.   

My goal was to be debt free by 40 but God chose 38. As I soon approach my 40^th birthday I am still amazed at the grace I have been shown. There is no other explanation other than Faith plus Divine intervention to explain the miracle that happened in my life. It was mathematically impossible. Fortunately, God specializes in impossible situations.  I want you to understand that there is nothing special about me. The good news is that if He can do it for me with all my doubts, He can do it for you.

My mission is to teach you how to manage money using biblical principles so that you can build generational wealth.

Join me on future blogs as we walk through this finance journey together. Like many I didn’t have family that knew about finances to teach me. My mission is to teach you how to manage money using biblical principles so that you can build generational wealth.