by Bryon Swanson

The ads are slick and tantalizing. They effectively attract our eyes and create a sense of need: I deserve that candy apple red convertible. I can't live without that surround sound system and DVD player. I need that designer suit to reflect my stature and position.

We are smacked in the face with temptation every time we go to the mall, pick up the newspaper, drive by the car dealership or see a commercial on television. Marketers do an excellent job creating the need. The trouble is our needs today can be fulfilled on the spot. How? If you don't have the cash, debt is quick and easy to come by.

I found these notices in Sunday's newspaper:

• No Interest Until January...
• Take advantage of 0.9% financing for 48 months on any new vehicle.
• Open an account through Instant Credit and start shopping in minutes!
• Get 10% Off your first day's purchases!
• Zero Interest & Payments 'til January...

On top of these opportunities, three or four times a week the mailbox holds at least one special offer to apply for a credit card. You can get your plastic in a variety of shades and with increasingly improved features. "Gold" cards and "Platinum" cards get swiped through the checkout lanes everyday. My wife and I even received an offer for a new "Titanium" card with "a credit limit of up to $100,000 for those who qualify." Are they serious?!? They expect that we will go out and buy a house on a credit card?

Sometimes this world seems a little too fast and out of control. The stores and credit card companies are only trying to do their jobs. They have bills to pay and families to feed, too. Even debt is not the ultimate problem. It is a legitimate tool that is to be used wisely and sparingly. The problem with credit cards and debt is the ease of use and our own discontent with the here and now. How easy it is to get distracted and torn away from the Lord.

Let me share some of the ugly facts about debt. How many people do you know that have maxed out three, four or five credit cards? How many of those people only pay the suggested minimum monthly payment found on the statement? The following examples reflect the effect of varying interest rates.

Read that Years to Pay line again. At $20 a month, it would take 10 years to pay off a balance of $1,000 and all of the interest for the 21.0% annual percentage rate card. This debt is going to be a problem for a very long time and becomes worse if more than one credit card is involved. They don't explain these facts when you fill out the application. This is why debt and credit cards are to be used wisely and sparingly.

If the card holder gets spread too thin, and can pay only the minimum amount each month to stay "current," the grip of the choke hold just gets tighter. More and more of the budget gets tied up, and what's worse is the lack of flexibility to save for car repairs, clothes and other legitimate needs. It becomes tougher and tougher to break out of the cycle of debt.

What are the solutions? There are many things that can be done, but there is no easy fix to this problem.

1. Ask the Lord to give you a spirit of contentment and gratefulness to Him. Study and pray through Psalm 16. Ask Him to help you establish a plan to get out of debt and stick to it.
   
2. Sit down and work out a realistic budget that includes all of your monthly commitments. For helpful tips on setting up a budget, read Simple Things About a Budget.
   
3. Look at your statements and determine which card or loan has the highest interest rate.
   
4. Pay as much as you can on that high-rate card each month until the balance is paid off. Resist the temptation to use gift money or a pay increase at work for new purchases until the debt problem is under control. Any gifts or bonuses that you receive should be applied to that card's balance. Also, resist the temptation to cut or stop your giving to your local church—God deserves your continued worship and commitment to Him through regular giving.
   
5. Do the monthly bills have you spread too thin to make much of a difference? Make some hard decisions and get back to the basics of life. Sacrifice "pleasures" to find the money to increase debt reduction payments.
   
6. Give up something as simple as that daily can (or cans) of pop and apply the money to the card balance.
   
7. Discontinue cable TV or Internet access and apply the amount to the card balance.
   
8. Sell the bike, boat, sound system or TV that caused part of the debt problem.
   
9. If your spouse works, commit as much of that salary to the debt.
   
10. Find a night or weekend job to generate more earnings to use for debt reduction.
    
11. Don't take a vacation—stay at home and enjoy free local sites and activities. If you were saving toward it, use those savings to apply to debt. If you weren't saving, then at least no new debt was created.
    
12. When that high-rate card or loan is paid off, commit all of the money paid to it each month to the next high-rate card or loan.
    
13. Do your best to not generate any new debt or card balances.
    
14. Consider transferring the balance of a high interest rate card to a "special offer" card with a low introductory rate (especially if that rate is good for 6 to 12 months).
    
15. Bankruptcy is not an option. You made a commitment and you must fulfill that responsibility. Your "yes" needs to mean "yes" and your "no" must mean "no."

If you have filed for bankruptcy, then use this time as a fresh start and stay away from credit cards and other debt. I believe that you should still try to do everything within your power to honor God and pay the debts that were accumulated prior to filing. It wont be easy, but consider the testimony and witness it will be to those who extended you credit.

For more reading on living within your means, read the article Simple Things About a Budget.