Give Your way out of Debt and into Wealth | HealthWealthVictory
Do you feel like you’re drowning in debts? You can drown in God’s blessing instead. Just give your way out of debt and into wealth.
1 He brought me back to the entrance of the Temple, where a stream flowed eastwards from under the Temple threshold, for the Temple faced east. The water flowed from under the right side of the Temple, south of the altar.
2 He took me out by the north gate and led me right round outside as far as the outer east gate where the water flowed out on the right-hand side.
3 The man went off to the east holding his measuring line and measured off a thousand cubits; he then made me wade across the stream; the water reached my ankles.
4 He measured off another thousand and made me wade across the stream again; the water reached my knees. He measured off another thousand and made me wade across the stream again; the water reached my waist.
5 He measured off another thousand; it was now a river which I could not cross; the stream had swollen and was now deep water, a river impossible to cross.
6 He then said, ‘Do you see, son of man?’ He then took me and brought me back to the bank on the river.
7 Now, when I reached it, I saw an enormous number of trees on each bank of the river.
8 He said, ‘This water flows east down to the Arabah and to the sea; and flowing into the sea it makes its waters wholesome.
9 Wherever the river flows, all living creatures teeming in it will live. Fish will be very plentiful, for wherever the water goes it brings health, and life teems wherever the river flows.
12 Along the river, on either bank, will grow every kind of fruit tree with leaves that never wither and fruit that never fails; they will bear new fruit every month, because this water comes from the sanctuary. And their fruit will be good to eat and the leaves medicinal.’
Giving my way out of debt
I was watching this 700 club financial miracles playlist on YouTube and one woman said this that struck a chord with me:
The Lord told me to give my way out of debt.
She did and God gave her blessing after blessing that she not only got her way out of debt, she became wealthy.
Financially and in all areas of her life.
I want that. I want God’s blessing that spills through all areas of my life.
I tried once giving to CBN and the 700 club.
But I didn’t think I can become a partner just yet which means I’ll give monthly.
It only takes $20. But that’s 1000 Philippine pesos.
I really want to give to CBN. I see how much work they’re doing for the Kingdom of God in the world.
I always knew for a long time, I will become a billionaire, earn billions so I can give 90% to fund the work of God in the world while still living well off with the remaining 10%.
I’ve always desired that.
And one preacher said desires come from God. It comes from “Dei”and “Sire” which literally means “of God” – birthed of God.
So I’m so confident now that this desire is from God and that I must take steps to let God fulfill His desire in me/
For this reason, I’ve taken steps towards that ultimate financial goal.
Tithing on my Income
First, I’ve started faithfully tithing on my primary job. Whether my numbers say I don’t or do have enough money, that tithe, 10% of my income, comes out first not last.
I still have to tithe on the second, though.
With my second job, I share it with both my sisters and I only get a portion of the income, the lowest of us three.
But I heard this testimony of one woman from a 700 club video who tithed on the gross revenue (even before they take out 1 cent) of their law firm. By doing so, she can effectively tithe the income of all her 30 employees.
God told me to do the same for my second income so I can effectively tithe on behalf of my sisters’ which cuts my portion in half.
That portion I’ve designated to pay for my online business.
Tough choice, but I will obey God and will tithe on it this month.
Living within a budget
Second, I started living within a budget.
Since I started tithing, there isn’t so much left financially.
So I started not only tracking every cent that comes in and out, but I started making a budget before I get my income and assigning every cent its purpose.
Then I keep them separately on different pouches or envelopes.
You might be familiar with it: it’s called the envelope system.
Before, I only track how much of my money comes in and how much goes out so I’ll have an idea but not religiously and I was not living within a budget.
So I always find myself in the red, delays in paying bills and consequently paying penalties.
And then yes, of course, the pandemic happened.
My debts were mostly incurred to pay 7 months of delayed housing mortgage and 3 months of electricity bills.
Giving beyond the Tithe
So now that I know my numbers:
- Income
- Expense
- Cashflow (income minus expense)
- Debts
I think I don’t have enough cash extra to give monthly like those testimonies, on top of my tithe.
My goal this year, on the way to giving 90% by age 50, is to give 18%-20% as tithe and offering.
And then God gave me this verse above that really spoke to me:
1 He brought me back to the entrance of the Temple, where a stream flowed eastwards from under the Temple threshold, for the Temple faced east. The water flowed from under the right side of the Temple, south of the altar.
2 He took me out by the north gate and led me right round outside as far as the outer east gate where the water flowed out on the right-hand side.
3 The man went off to the east holding his measuring line and measured off a thousand cubits; he then made me wade across the stream; the water reached my ankles.
4 He measured off another thousand and made me wade across the stream again; the water reached my knees. He measured off another thousand and made me wade across the stream again; the water reached my waist.
5 He measured off another thousand; it was now a river which I could not cross; the stream had swollen and was now deep water, a river impossible to cross.
6 He then said, ‘Do you see, son of man?’ He then took me and brought me back to the bank on the river.
7 Now, when I reached it, I saw an enormous number of trees on each bank of the river.
8 He said, ‘This water flows east down to the Arabah and to the sea; and flowing into the sea it makes its waters wholesome.
9 Wherever the river flows, all living creatures teeming in it will live. Fish will be very plentiful, for wherever the water goes it brings health, and life teems wherever the river flows.
12 Along the river, on either bank, will grow every kind of fruit tree with leaves that never wither and fruit that never fails; they will bear new fruit every month, because this water comes from the sanctuary.
The angel measured a “1000” then made the prophet Ezekiel wade into the stream. The water was around his ankles at first. Then for every succeeding “1000” the water rose up until it became a Life-giving source of living water.
Wow, if I step out in faith and become a CBN partner starting with $20, which means giving Php 1000 every month, I will see this trickling stream grow into rivers of living water blessing many.
My ultimate dream.
Reclaiming my cashflow
So because I want to give more yet I don’t want to lower my style of living in any way, I have to find a way to reclaim my cashflow, and not feel like I’m drowning, always worried whenever bills arrive. Not knowing where to get the money to pay off bills and debts.
But God is really true to His word:
Thus says the Lord, your Redeemer, The Holy One of Israel: “I am the Lord your God, Who teaches you to profit, Who leads you by the way you should go. Isaiah 48:17 NKJV
I stumbled upon this financial concept that may be God’s answer to help me manage my finances better so I can have more to give.
Enter Velocity Banking.
It’s a responsible way of using debt to work for you and not against you.
Debt Snowball with Velocity Banking
Have you heard of Dave Ramsey’s Debt snowball?
It’s where you focus with gazelle intensity to tackle and pay off, soonest you can, your smallest debt, regardless of the interest, while at the same time paying the minimum payment for your other debts.
This way, when you pay off that smallest debt first, you not only have a sense of winning, but you effectively eliminated that debt burden and freed up cash.
Then you use that newly freed up cash to add on to your payments for the next debt on the list, paying more.
Soon, you’ll pay that too and use that extra money to add on to the next until with this debt snowball, you pay all off your debts one by one except your home mortgage.
That’s the Debt Snowball.
Well, Velocity Banking is like the debt snowball but using not your own money but a Line of Credit so that your own money remains with you, on an account that you own.
My Velocity Banking Strategy
Velocity Banking: Do or do not? is what I asked the Lord when I was convinced of the merits of Velocity banking.
But is it God’s will for me?
So here’s how the Lord led me to do Velocity banking, in answer.
Using a Credit Cooperative or a Credit Union
I take the 20k that is sitting useless in my 2 checking accounts and save it in a time deposit with a Credit Cooperative that I’m a member of, which allows me to take a loan with that money in my time deposit as collateral.
That’s a secured loan. If I fail to pay my loan, the Coop will just take my 20k.
That’s my principal or capital.
So Day 1 of the month I take out a 20k loan. Minus service fee 2%, 3.5% to go to my Share capital (because it’s a coop), and a few more. I get a clean 18K +.
Then because it’s a secured loan they let me make my own schedule when to pay it but I have to follow that schedule or else I pay penalty.
So I take that 18k and pay all my bills and debts due on week1 and week 2 of that month.
I receive my income weekly. As soon as I get my week1 income, I pay 10k into that Credit account and then another 10k on week 2, completely paying off my 20k loan or debt.
You know what’s amazing?
The coop allows me to reloan as soon as I finish paying up a loan.
So on the 15th of the month, I take another 20k loan and use the net amount 18k to pay off all bills and debts on week 3 and week 4.
Then soon as my income in week 3 comes in, I pay 10k, then in week 4 another 10k, paying off the 20k loan at the end of that month.
So I only pay 2 months’ worth of interest for the whole 40k loan that month and I can do it again month after month.
This way, it’s like I have created a whole new cashflow and I’m able to pay all my debts and bills on time without penalties and with lesser interest.
And I’m not worried where I’ll get the money to pay this and that.
Cause you know what’s the best thing?
My original 20k capital is still on my time deposit account, sitting pretty and earning interest for me.
I think around 4% per annum.
Yes, I pay the Coop 3% interest per annum and 2% service fee but it’s a small price to pay to lessen interest and avoid penalties that I used to pay by thousands, not hundreds.
And on top of that, my shares capital with my Coop increases which I can also use to borrow regular loans with greater amounts.
Using a Bank: Certificate of Deposit
I researched for something like this with a bank. It turns out, yes you can do this with a certificate of deposit or time deposit.
So I asked my bank and yes they have that with a minimum of 20k. But since I know the bank manager, he’ll allow me to just keep my money in an ordinary savings account.
They issue me a credit card and the initial 20k on my savings account or maybe in your CD or cash deposit.
Then I can take a loan from them called “call for cash”or “convert to cash”. Just ask your bank about it.
This will allow you to borrow 80% of your total money in your account, payable in 3 or 10 months, I think it’s up to you, for a minimal interest – less than 1% per month I think.
Only thing is, you can’t pay it faster and reloan again. You have to go by schedule and finish the loan term exactly as set up before you can reloan again.
Then you can do Velocity banking with it, use it to pay off your smallest debt and so on and so forth while your money sits on that account. Or pay your bills.
Just be responsible in paying this loan with the income you regularly receive monthly so you can have interest working for you and not against you.
Using a Pawnshop and pawning your Gold jewelry
Another thing I found out you can use as a Line of Credit for those who can’t have it with a bank is a pawnshop.
But of course, you need to have gold jewelry to pawn. They charge 3% per month but it’s simple interest loan which means the more you pay, the lesser your debt becomes and the sooner you’ll pay it off.
See that? How amazing.
God really teaches us to profit.
Now Your turn
Are you feeling overwhelmed and drowning in debts and bills?
First, give your tithe to God through your local church.
Pray to God regarding your situation. Trust Him.
Then you show your trust by giving God 10% of all your income no matter how small.
Remember, a blessed 90% income will go a looooong way than an unblessed 100%.
2nd, know your financial numbers and live on a budget.
Write all your numbers in a spreadsheet. Or you can get an app. Or you can just write it down in a notebook.
I have mine in a Google sheet cause I like that I can customize it according to my needs and I can easily subtract or add on the sheet.
Then use the envelope system to separate your cash.
3rd, Learn and apply proven effective financial strategies that could help like velocity banking.
It’s a new concept for me and it might be for you too.
But learn. I just stumbled upon it on YouTube and spent 2 days binging on videos about it.
You can watch Denzel Napoleon Rodriguez and Velocity Channel and learn.
If you know of a credit coop like mine, join up, know their products and use that. Just make sure you’re paying less in interest on the coop loans than what you pay with your debts.
At first, you may have to work on Dave Ramsey’s baby step 1: Save at least 1k emergency.
I’d say, do all you can to save at least 10k (at least, here in the Philippines, maybe in the US or Europe 1k is big enough). Because this is the minimum balance usually to open a time or certificate of deposit account.
So put this initial capital in these vehicles: coop or CD or wherever the Lord leads you.
This way, you can have both your initial emergency fund and a rolling line of secured credit to pay off debt and bills on time, using the velocity banking method.
But don’t forget, honor God first and foremost in your tithe and offering, no matter how small.
Then you’ll see your trickle increase until it becomes a life-giving living water not only for your family but for others around you.
Because God, our Father, is always a God of overflow.
So don’t forget: give your way out of debt and into wealth.
With God, you can do it. More than you can ever ask or imagine.
Ask the LORD to bless your plans, and you will be successful in carrying them out. Proverbs 16:3 GNBDK
- Honor God with your first fruits: tithe and offering.
- Pray to God regarding your financial situation and get His wisdom.
- Responsibly handle your finances and learn strategies, like Velocity Banking that can help you out.
Dear Lord,
Thank You that I’m able to receive and act with love on God-inspired ideas so that I can better manage my finances and give my way out of debt and into wealth. In Jesus’ Name. Amen.
This is it for now. Till next time.
To our health, wealth, and victory – GODSPEED!
