7 Steps to Get Out of Debt

Last week, we explored the real cost of debt—not just the dollars and cents, but the emotional, spiritual, and physical weight it often carries. Debt doesn’t just slow your progress—it can cloud your peace, limit your generosity, and keep you from fully walking in the freedom God desires for you.

This week, we move from awareness to action. Because freedom from debt isn’t about luck, income level, or waiting for the perfect time. It’s about choosing to take intentional, prayerful steps—one decision at a time.

The journey won’t always be easy. It requires commitment, discipline, and faith. But it’s absolutely possible. These seven steps have helped thousands of individuals and families break free from debt—and they can work for you too.

Whether you’re facing a mountain of debt or just a few lingering balances, this is your invitation to begin. Let’s walk this out together—with wisdom, grace, and hope.

This Week’s Focus: From Bondage to Breakthrough

Freedom doesn’t come from wishing or waiting—it comes from walking in obedience, one step at a time.

These seven steps are your roadmap from debt to dignity, from fear to faithfulness, from financial bondage to biblical stewardship. Whether your debt feels like a mountain or a molehill, this process will help you regain clarity, confidence, and control.

Each step is practical. Each one is powerful. But most importantly, each one invites you to partner with God as you rebuild not just your finances—but your faith, your habits, and your future.

Verse of the Week

Philippians 4:13 (NKJV): “I can do all things through Christ who strengthens me.”

This includes your finances. Getting out of debt may feel overwhelming at times, but you’re not doing it alone. God is your source—not your paycheck, not your credit card, and not your own strength. He equips you for the journey, step by step.

The 7 Steps to Get Out of Debt

1. Pray for Wisdom and Strength

Before you touch your numbers, start by touching heaven. Getting out of debt isn’t just a financial decision—it’s a spiritual one. Invite God into the process. Ask for wisdom to make the right choices, strength to stay the course, and peace in the midst of pressure.

In 2 Kings 4:1–7, we meet a widow whose late husband left behind debt so great that creditors were coming to take her sons as slaves. Her pain wasn’t just financial—it was deeply personal. His debt became her crisis. And it threatened to steal the future of the next generation.

But when she turned to the prophet Elisha, he didn’t offer her a loan—he pointed her to what she already had. God multiplied her small jar of oil until every borrowed jar was full. She sold the oil, paid off the debt, and had enough left to live on.

This story reminds us of two important truths:
First, debt doesn’t just affect us—it affects everyone around us: our spouses, our children, our families.
Second, the same God who provided for that widow still provides for His people today.

Sometimes He works a miracle. Other times, He gives us wisdom, discipline, and a clear plan. Either way, we’re not alone in this journey.

Let prayer be your first step—not your last resort. God sees. He cares. And He’s ready to walk with you from burden to breakthrough.

2. Stop Using Credit Cards

If you’re serious about getting out of debt, you have to stop adding to it.

Using credit cards while trying to pay off debt is like bailing water out of a sinking boat while still drilling holes in the bottom. You may be working hard—but you’re not getting anywhere.

Put the credit cards away—literally.

• Remove them from your wallet

• Freeze them (yes, in the freezer if you have to)

• Delete them from online shopping accounts

Don’t close the accounts (that can hurt your credit score), but make them inaccessible. If you don’t have the cash for something, it’s a sign that you can’t afford it right now. That’s not failure—it’s wisdom. Wait until you can buy it without borrowing.

Credit is a crutch that keeps you stuck.
Every time you swipe, you’re making it harder to break free. So start saying this to yourself:
“I’m working toward freedom, not another bill.”

If you need to make a purchase, use a debit card or cash. This keeps you grounded—spending only what you actually have, and helping you live within your means. If a true emergency comes up, lean on your emergency fund—not a credit card.

Here’s the bottom line: You can’t get out of debt if you keep adding to it.
You must stop borrowing so you can finally start moving forward.

We pray, “Lord, make me debt-free! Lord, bless my finances!”
But then we keep swiping the card, we don’t budget, we don’t save.
We’re asking God to move, but we’re doing the opposite of what He’s already told us to do in His Word.

Scripture tells us to make a plan. To save for the unexpected. To owe no man anything.

So the question is: How can we expect God to move if we’re not being obedient to what He’s already said?
If we want to see change, we have to align our habits with His principles.

This is where it starts: stop digging the hole. Set your intention. Choose obedience. That’s how you begin the climb out.

🎯 Weekly Challenge: Start with Prayer and Pause the Plastic

This week, set aside intentional time to take action on the first two steps:

• Pray over your financial situation. Invite God into the process and ask for wisdom, strength, and direction.

• Remove all credit cards from your wallet, online accounts, and mobile devices. Make borrowing harder and discipline easier.

• Write a personal declaration: “I’m choosing to stop borrowing so I can start building.”

This isn’t about perfection—it’s about obedience. Take the step.

💬 Reflection Questions

• Who in my life is affected by my debt—directly or indirectly?

• What fears or habits make it hard for me to stop using credit cards?

• How would it feel to live with freedom, margin, and peace instead of pressure?

📢 What’s Coming Next

Next week, we’ll take the next steps toward financial freedom by getting clear on what you have—and building a plan for where you’re going.

🔁 New here or missed a few? You can read all the previous newsletters right here: financebyfaith.beehiiv.com

Blessings and financial peace to you!