It’s not by accident that these two Scriptures are back-to-back: ‘Start children off on the way they should go, and even when they are old they will not turn from it. The rich rule over the poor, and the borrower is slave to the lender’ (vv. 6-7 NIV). Your child’s college university education, an affordable home, and a reliable car are okay to borrow money for. Otherwise, unless you can pay for something – learn to wait!

Jesus said, ‘If any man would be my disciple, he must deny himself’ (see Luke 9:23). We’re not very good at denying ourselves the things we want. But unless you want your kids to inherit your debt, end up getting into debt themselves, and passing the principle of instant gratification on to their children, break the cycle now. Get out of debt and stay out of debt!

Say: ‘Lord, I’m through making excuses. I take responsibility for the mess I’m in. I gave in to my impulses, overspent, ignored Your principles of good stewardship, and I repent. Give me the courage to face my debts and take an honest look at where I stand. Don’t let me live in denial. You warned us not to be ignorant of Satan’s tactics (see 2 Corinthians 2:11). He is attempting to keep me in financial bondage, and, as a result, I am unable to respond when it’s time to sow and finance Your work. Direct me to a trustworthy source that can help me develop a debt-eliminating strategy. Help me to stop having to make additional interest charges. Deliver me from emotional spending. Please, help me to get out of debt. In Jesus’ name I pray. Amen.’