How to Manage Debts The Bible Way

2 Kings 4:7
She went and told the man of God, and he said, “Go, sell the oil and pay your debts. You and your sons can live on what is left.”

Good News Translation
She went back to Elisha, the prophet, who said to her, “Sell the olive oil and pay all your debts, and there will be enough money left over for you and your sons to live on.”

The widow came to Elisha seeking help with an overwhelming debt left behind by her late husband. Elisha told her to collect all containers she could get from neighbors, relatives, and friends. Elisha told her to then close the door and in privacy pour her only oil remaining oil into those containers. She did that and the oil did not run out until all containers had been properly filled.

When the containers got filled with plenty of oil, the widow went to prophet Elisha to seek further instructions. Elisha’s input text today tells her that she should sell the oil and then first pay the debts. First, pay the debts. The debts were the priority to set them financially free!

Debt enslaves the mind. Therefore, freedom from an enslaving debt is the best experience one can have. Debt puts you in a financial fix and you are most likely to incur more debt. Therefore, the sooner you are free from debt, the better your mental health. That is why the prophet told her to first clear the debt and then live on the rest!

Debt used to invest should be managed well. Debts are best managed with a payment plan. Do you have a payment plan for your debts? You need a payment plan that can comfortably stretch to allow you to live as you reduce the debt towards zero. Debts can be good for investors who get money to invest and then repay the debts once they make a profit.

Do not borrow money for business before the business is ripe. If money lingers in your hands, it will influence you to make bad decisions. Only get money when it has a place to go. Get the exact money for what you need. Don’t borrow extra. The extra deepens the debt but brings back no value.

The best way to manage debts is to have a payment plan. Adjust your life to what remains for use as you pay your debts. Only borrow the exact amount and take directly where it should go.

Prophet Elisha told the widow and still speaks to us today, that we should first pay our debts. Life will not be enjoyable if we are harboring a dark cloud of debt in the back of our minds. Many families and individuals will do well to clear their debts.

May God help us to manage our debts and clear them. May God save us from oppressive debts. May God grant us wisdom never to fall back into debt slavery. May we manage our debts well, in Jesus’s name, Amen!

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