“Can You Pay My Bills”: 4 Ways to Financial Freedom

That is a quote from Destiny’s Child. Bonus stars to you for noticing.

My husband and I are starting a new bible study that focuses on money and debt. The video series is called, “Life, Money, and Hope” by Dave Ramsey. We hadn’t been doing a study on our own, and this felt like a tangible way to honor God and discuss practical next steps in this phase of life as we transition out of college.

I also have a lot of school debt.

To recap the first video of the three part series, Ramsey, experienced debtor, gives us a few main points to take home with us:

  1. Get out of debt. Debt is a kind of slavery. And that is bad and that is not freedom.
  2. Save money while you get out of debt, 3-6 months of salary is ideal for when the world turns ugly on you. Because it will turn ugly.
  3. Make a plan and stick to it. Know where each dollar is going. Act like money is real.
  4. Give generously and have fun doing it.

The video had me wondering where I, we, could be more mindful about our spending habits, where our money goes, where it’s invested.

  1. We could turn the lights off before we leave the room. We could use natural light for as long as it’s given to us.
  2. We could start spending money on groceries more wisely, planning our meals and lunches to take to work; we can say no to that random ingredient that costs more than $10 and we’ll only use once. I’ve created a practical Pinterest board to help me plan simple meals I can actually make. (Send me pins/ideas there if you have a good recipe!)
  3. We’ve made a list of every monthly and annual expense that we should keep in mind as we plan to pay off our debt and save, from car registration renewals to our Spotify subscription. This is also an ideal time to slash items that are really quite unnecessary.
  4. And I know this may be small, but we can buy a drying rack for our clothes. Drying clothes can cost more than a few quarters when we’re doing laundry. If drying clothes costs us a $1.50 per load, assuming we don’t have to dry it twice because our clothes are still wet, for twice a month, then that’s like $36 a year. Just to dry your clothes. That’s like three new paperback books! Need I say more?

I’m also thankful that my husband knows finance and what an IRA and mutual fund are, because I do not. And I’m excited to see the numbers fall of my five-digit debt tally.

What a way to experience freedom in Christ, watching our debt turn to nothing.

See my thoughts on the second and third installments of this bible study series here.

 

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